Middle finger research institute: The total area of new contracts for the top 50 service enterprises in January and February is approximately 111.07 million square meters.

According to the latest statistical data from China Index Research Institute, in January and February 2024, the total new contract area of the top 50 property service companies in China was approximately 111.07 million square meters, with an average new contract area of 2.22 million square meters. Among them, Yasheng Smart City Service Co., Ltd., China Resources Mixc Co., Ltd., and Dongyuan Renzhi Urban Operation Service Group Co., Ltd. expanded rapidly, with new contract areas exceeding 6.5 million square meters. Analysis of third-party market expansion of property service companies in January-February 2024 In January and February 2024, the top 50 property service companies expanded their third-party market area by a total of 91.87 million square meters, with an average of 1.84 million square meters. The top two companies in terms of third-party market expansion were Yasheng Smart City Service Co., Ltd. and Dongyuan Renzhi Urban Operation Service Group Co., Ltd., with third-party market expansion areas of 6.99 million square meters and 6.74 million square meters respectively. In terms of levels, the average third-party market expansion area of the top 10 companies was 4.82 million square meters, and the average third-party market expansion area of the 11th to 30th companies was 1.72 million square meters. Analysis of the contracted area from affiliated companies by property service companies in January-February 2024 In January and February 2024, the top 50 companies contracted a total of approximately 24.1 million square meters from affiliated companies. The average new contracted area from affiliated companies for the top 50 companies reached 480,000 square meters, with a threshold value of 940,000 square meters for the top 10 companies. Taking on projects from sister companies is an important means for property management companies to expand their scale. Leading companies such as ONEWO Space Technology Service Co., Ltd. and POLY PPT SER Service Co., Ltd. are expected to add over 2 million square meters of managed area with the support of their parent companies and affiliates. Relying on the development of affiliated real estate companies, the stability of the growth in managed area of property service companies is effectively guaranteed. Analysis of merger and acquisition market of property service companies in January-February 2024 Image: Some merger and acquisition cases in the property management industry in January-February 2024 (not a complete statistic) Source: China Index Data CREIS Property Edition Companies are diversifying into various formats and continuously strengthening their strategic layout in the direction of urban services. In January-February 2024, Yasheng Life under its subsidiary Longcheng Services acquired the newly established Baoxin City Cleaning, incorporating property management, building cleaning, professional cleaning and disinfection, and parking services. Changcheng Property transferred all shares of its wholly-owned subsidiary Taiyuan Shenchangcheng Property to Shanghai Shenchangcheng Property, which includes property management, nursing institution services (excluding medical services), and elderly care services.