Everything is planned to raise about 5.5 billion Hong Kong dollars to HK $ 6.2 billion in Hong Kong stock property sector will be listed on the heading enterprise again

Our reporter Li Yuzheng's Hong Kong Stock Exchange will welcome another property giant. On September 19th, Vanke's all-round announcement announced the global offering announcement, which plans to offer 117 million shares worldwide, with a offer price of HK $ 47.1/share-$ 52.7/share. It is expected to raise about HK $ 5.497 billion to HK $ 6.151 billion. Listing and transaction on the 29th. This time IPO everything has attracted the more luxurious cornerstone investor lineup blessings, covering Temasek, UBS asset management, China Chengtong Holdings, and its Chinese state -owned enterprise mixed ownership reform funds, Runhui Investment, HHLR fund under Gao Yan, and Star institutions such as YHG Investment and ATHOS Capital are expected to take a "strong needle" for the company and the industry as the overall downturn of the property sector. "Poor markets make true friends." Zhu Baoquan, chairman and general manager of Wantong Yun, wrote on social media. In an interview with the Securities Daily reporter, Bo Wenxi, the chief economist of IPG, believes that the listing of everything can help improve the fundamentals of the property sector, enhance the quality and confidence of the sector, and strengthen the market's attention to the property sector. The scale is at the forefront of over 54.9 billion Hong Kong dollars in Vanke Property. It is the first property service company in China to revenue more than 10 billion yuan in annual revenue. As of the issuance, Vanke directly held 57.12%of all the clouds, and indirectly held 5.77%of the shares through wholly -owned subsidiaries, and held a total of about 62.89%of the shares of all things. After the completion of the first distribution, Vanke will hold 56.60%of the voting rights of all things, and is still the controlling shareholder of all things. According to the prospectus, everything is intending to offer 117 million shares worldwide, and it is expected that the initial fundraising is about HK $ 5.497 billion to HK $ 6.151 billion. Regardless of the two years of listed companies in China, China -free and Tianqi Lithium, will be the largest IPO of Hong Kong stocks this year. After the issuance, the total share capital of Wanxun will reach 1.167 billion shares, calculated according to the issue price of HK $ 47.1/share-52.7 Hong Kong dollars/share, and the valuation of all the clouds of clouds will approximately HK $ 54.972 billion-HK $ 61.508 billion. This market value is second only to China Resources Vientiane Life in the Hong Kong stock market. As one of the largest property management enterprises, the listing of everything will make the Hong Kong stock property management sector more complete. According to the information of Fhstana, according to the income of basic property management services, everything ranked first in the Chinese property management service market in 2021, accounting for 4.28%of the market share. "After Landing the Hong Kong Stock Exchange, only the head property management enterprises are only Jindi Property and Longhu Zhichuang's life have not yet been listed, and the latter is promoting the listing process, which also means that the capitalization of properties is basically completed." IPG China Chief of China Economist Bo Wenxi said. According to the prospectus, in 2021, the revenue of all the clouds reached RMB 23.705 billion, which was second only to Country Garden services compared to the current Hong Kong -listed property company. Among them, the three major business sectors community space residential consumption services, commercial enterprises and urban space comprehensive services, AIOT and BPAAS solutions services in 2021 were RMB 13.161 billion, 8.693 billion yuan, and 1.850 billion yuan, respectively, accounting for 55.5, respectively %, 36.7%and 7.8%. Vanke used the capital market to further develop everything. "Vanke is a peasant. Whether the weather is good or bad, we must plant the land and plant food." Yu Liang, chairman of Vanke's board of directors express. In a sense, the listing of all things happens to meet Yu Liang's conclusion of "no matter the weather is planted". Since Yu Liang's "Songkou" in June 2021, the market has witnessed the long -term low tide period of the Hong Kong stock property sector. From July 2nd, 2021 to September 19, 2022, the Chinese property management index (887811.wi) fell more than 65%. Judging from the valuation of the head enterprise, China Resources Vientiane Life P / E ratio (TTM) has decreased from about 120 times to about 35 times, and Country Garden Service P / E ratio (TTM) has fallen from about 80 times to about 10 times. For everything, it may not be the best listing window. The valuation of the IPO of all things this time is about 54.972 billion Hong Kong dollars -61.508 billion Hong Kong dollars, and the net profit of Mother's net profit at RMB 1.668 billion (HK $ 2.24 billion) in 2021 is calculated. 60, 70 times or even hundreds of times the price -earnings ratio that appeared in the same everywhere. However, as far as the current market is concerned, all things have enjoyed at least a certain faucet premium and scientific and technological attribute premium. According to Wind data, as of September 19, according to the property services and management classifications of the Hong Kong Stock Exchange, the average value -in -earnings ratio (TTM) of 60 Hong Kong stocks listed property management enterprises (TTM) was only 6.91 times. Bo Wenxi believes that although everything is a bit cost -effective to go public in the case of poor market conditions, at least it helps improve the fundamental aspects of the funds and the liquidity of Vanke, which will help alleviate Vanke's liquidity pressure. , Overall, it is better than the disadvantages. "Vanke split all things in the market is not a 'selling pigs', and sell it for a good price, but hopes to gain greater development space through listing.

"Yu Liang explained at Vanke's 2022 mid -term performance conference that the valuation of the short -term market for the listing of all things is not what Vanke cares most. Vanke is most concerned about the power through the capital market to support its further development. ZhugeGuan Rongxue, an analyst at the Housing Data Research Center, believes that in an interview with the Securities Daily reporter, although the current market sentiment is relatively low, the capital market is in a relatively rational stage, and the valuation of the enterprise is more rational.To enhance the vitality of the industry, the joining of strength competitors will also make the structure of the property management industry more stable. Picture | Site Cool Hero Bao Map Network Production | Zhang Xin Nuclear | Li Chunlian Editor | Bai Baoyu Final Appeal | Dong Shaopeng

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