Zhong An Intelligent Living To List On HKEX On January 16, 2023

Zhong An Intelligent Living (Chinese: 众安智能生活) announced that the company expects to be listed on the Hong Kong Stock Exchange on January 16, 2023, with a proposed global offering of approximately 127 million shares at an offer price of HKD 1.38 (USD 0.18) to HKD 1.78. The Hong Kong offering will account for approximately 10%, and the global offering will account for approximately 90%.

The funds raised will be used mainly for acquisitions and expansion.

Founded in 1998, Zhong An Intelligent Living is a community living service provider offering a full range of scenario-based services to owners of all ages.

As of December 31, 2021, Zhong An Intelligent Living had a market share of approximately 0.04% in China in terms of managed floor area. in 2019, 2020, 2021 and the first half of 2022, the properties developed by Zhong An Group and joint ventures accounted for approximately 62.0%, 55.3%, 55.7% and 56.3%, respectively, of the total floor area managed by Zhong An Intelligent Living; revenue generated from property management services accounted for approximately 79.0%, 76.1%, 72.5% and 73.3%, respectively.

Li Jianjie, a senior investment advisor at Jufeng Investment (Chinese: 巨丰投顾), said, "Property management is currently at an early stage of development, dominated by small and medium-sized property companies. Property companies with a real estate background and more strength can quickly increase their market share through mergers and acquisitions, laying the foundation for long-term sustainable and sound cash flow in the future."