Industry News ▌Nandu Property Chairman Han Fang Elected as Standing Vice President of Zhejiang Business Cooperation Association On November 18, the third membership meeting of the Zhejiang Business Cooperation Association was held in Hangzhou. The meeting reviewed and approved several key documents and elected the third council and supervisory board. Han Fang, Chairman of Nandu Property, was elected as the Standing Vice President.
Corporate Updates ▌Greentown Service Repurchases 200,000 Shares on November 19 Greentown Service announced on the Hong Kong Stock Exchange that on November 19, 2025, the company repurchased 200,000 shares via centralized bidding, totaling HK$940,500. The lowest transaction price was HK$4.66, and the highest was HK$4.71. Over the past 30 days, the company has repurchased 3.698 million shares, amounting to HK$17.1565 million.
Project Wins ▌China Construction Yipeng Property Secures Office Building Project China Construction Yipeng Property recently won the property service contract for the office building of Hongdu Planning and Architectural Design Research Institute Co., Ltd. in Beijing. Located in the core area of Shilipu, Chaoyang District, the project spans approximately 39,500 square meters and integrates office, apartment, conference, and fitness facilities into a modern complex.
New Land Projects On November 19, key cities added 158 new land projects, with a planned construction area of 7.7088 million square meters. Among these, 41 were residential projects, 38 were commercial-office projects, 65 were industrial projects, and 14 were other types. Weifang saw the highest number of new projects at 14. The largest project by planned area is located north of Lingrun Road and west of Yanming Avenue in Kaifeng, covering 316,980 square meters, with a land price of RMB 393 per square meter. The developer is Zhengzhou Top Urban Management Service Co., Ltd.
Bidding Projects On November 19, key regions such as Beijing-Tianjin-Hebei and the Greater Bay Area released 2,174 property-related bidding notices. Non-residential properties accounted for the majority at 2,055, with office properties being the most frequent at 1,033. Notably, Shaoxing issued a public tender for road cleaning, green space maintenance, and waste removal services in Ma'an Subdistrict, with a budget of RMB 80 million.
Capital Market Updates ▌Performance of Property Service Companies in Secondary Market On November 20, the Hang Seng Index rose by 4.92 points (0.02%) to close at 25,835.57. Among 61 listed property service companies in Hong Kong, 18 saw gains, with Jiayuan Service leading at a 6.67% increase.
▌Market Cap and P/E Ratios of Property Service Companies The average market cap of the 61 Hong Kong-listed property service companies was HK$4.475 billion. Seven companies exceeded HK$10 billion in market cap, with China Resources Mixc Lifestyle leading at HK$100.156 billion, followed by Onewo (HK$25.627 billion) and Country Garden Services (HK$21.030 billion). The average P/E ratio was 9.93x, with Deshang Industrial Investment Services having the highest at 69.87x.
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