Evergrande Property Services Group Limited (6666.HK) Bundle
Founded in 1997, Evergrande Property Services Group Limited has grown into a major property manager in China, overseeing roughly 3,000 projects that span over 509 million square meters and serve about 3.3 million owners, a scale that underpins its mission to 'build the brand with quality and establish the enterprise with integrity'; in 2024 the company reported a net profit of RMB 1,800 million (up 16.67% year‑on‑year), while pushing a vision to create value for customers, shareholders, employees and society through excellence in real estate services, and embedding conscientious service, heartfelt companionship, smart‑community technology and eco‑friendly initiatives into its core values even as it navigates the broader financial challenges of the Evergrande group and pursues debt restructuring and operational resilience to restore trust.
Evergrande Property Services Group Limited (6666.HK) - Intro
Evergrande Property Services Group Limited (6666.HK), a subsidiary of Evergrande Group, specializes in integrated property management across mainland China. Founded in 1997, the company provides residential and commercial property services with a focus on improving living standards through operational excellence, smart-community deployment and sustainability initiatives.
- Founded: 1997
- Projects managed: ~3,000
- Managed area: >509 million sq. m.
- Owners served: ~3.3 million
- 2024 net profit: RMB 1,800 million (↑16.67% year-on-year)
Mission
- Deliver safe, reliable, and people-centric property management services.
- Enhance community value through technology and service innovation.
- Maintain operational discipline and transparent client communication.
Vision
- To be a leading, trusted property services platform in China, recognized for quality, sustainability and digital transformation.
Core Values
- Customer-first: prioritize resident satisfaction and wellbeing.
- Integrity: transparent operations and compliance-focused governance.
- Innovation: integrate smart community tech and digital services.
- Sustainability: implement eco-friendly initiatives in operations and community planning.
- Efficiency: continuous cost and process optimization to preserve margins.
Business Scope & Service Expansion
The company's service suite spans:
- Residential property management (estate maintenance, security, cleaning, community services).
- Commercial property management and facility services.
- Value-added services: smart-home integrations, concierge, leasing management and community e-commerce.
- Green initiatives: energy-saving systems, waste reduction programs, and green building maintenance.
| Metric | 2023 | 2024 | Notes |
|---|---|---|---|
| Net Profit (RMB million) | 1,542 | 1,800 | 16.67% YoY increase |
| Projects Managed | ~2,900 | ~3,000 | Expansion through new contracts and acquisitions |
| Managed Area (sq. m.) | ~495 million | >509 million | Growth from portfolio additions |
| Owners / Residents Served | ~3.1 million | ~3.3 million | Rising service penetration |
| Smart/Eco Projects (est.) | - | ~600+ pilot communities | Integration of IoT, energy management |
Operational Focus Amid Parent-Company Challenges
- Prioritize service quality and client retention despite group-level liquidity pressures.
- Emphasize cash collection, contract renewals and cost controls to protect margins.
- Seek third-party partnerships and diversified fee-based services to reduce reliance on group development cash flows.
For deeper financial analysis and investor-focused insights, see: Breaking Down Evergrande Property Services Group Limited Financial Health: Key Insights for Investors
Evergrande Property Services Group Limited (6666.HK) Overview
Evergrande Property Services Group Limited (6666.HK) centers its corporate identity around a succinct mission: 'build the brand with quality and establish the enterprise with integrity.' This mission underpins strategic choices, service standards, and stakeholder engagement across its residential, commercial and mixed-use property portfolios.- Quality-first approach: standardized service protocols, regular quality audits and KPI-driven performance for frontline teams.
- Integrity as an operational core: compliance frameworks, third-party audits and client grievance channels to ensure ethical conduct.
- Long-term orientation: investment in technology, staff training and property maintenance to preserve asset value and resident satisfaction.
- Professionalism - certified training and competence-based promotion for staff.
- Customer-centricity - responsiveness, safety and continuous improvement in resident experience.
- Transparency - clear reporting, compliance with regulatory requirements and ethical supplier management.
- Innovation - adoption of smart management systems, IoT and digital platforms to raise service efficiency.
| Metric | Value (approx.) | Reference year / note |
|---|---|---|
| Gross floor area (GFA) under management | ~400 million sq.m. | Group reported scale across residential & commercial portfolios |
| Number of projects under management | ~2,400+ projects | Includes residential estates, commercial complexes and serviced facilities |
| Customers / Households served | ~1.5 million households | Aggregate user base across managed properties |
| Revenue (annual) | HK$8.5 billion | Approx. annual revenue level (latest fiscal disclosure) |
| Net profit (annual) | HK$1.1 billion | Approx. attributable net profit level |
| Market capitalization (HKEX: 6666.HK) | HK$6.2 billion | Indicative market cap (recent trading snapshot) |
| Employee headcount | ~60,000 employees | Operational and frontline staff across regions |
- Quality management systems: unified SOPs, third‑party property inspections and satisfaction score tracking to maintain service benchmarks.
- Integrity measures: internal compliance teams, supplier due diligence and public disclosure practices to align with governance expectations.
- Investment in digitalization: property management platforms, mobile resident apps and predictive maintenance to reduce costs and improve responsiveness.
- Community and safety programs: emergency preparedness, community activities and safety certifications to protect residents and assets.
- Customer retention and recurring revenue - high satisfaction and trust support stable fee collections and upsell of value‑added services.
- Asset preservation - quality maintenance prolongs property lifecycles and sustains property values, benefiting owners and the company's reputation.
- Regulatory and stakeholder trust - demonstrable integrity reduces compliance risk and enhances access to institutional clients and capital markets.
Evergrande Property Services Group Limited (6666.HK) - Mission Statement
Evergrande Property Services Group Limited (6666.HK) positions its mission around delivering consistent, measurable value across four stakeholder groups - customers, shareholders, employees and society - while driving industry-leading standards in quality, innovation and sustainability. The mission integrates operational excellence with social responsibility to sustain long-term enterprise value.- Customer-first orientation: deliver safe, reliable, convenient property services that enhance living standards and tenant satisfaction.
- Shareholder value: pursue disciplined growth, recurring-fee resilience and margin improvement to generate sustainable returns.
- Employee empowerment: cultivate career development, competitive compensation and performance-driven culture to attract and retain talent.
- Societal contribution: implement green operations, community programs and compliance practices that support urban sustainability and social welfare.
- Create value for our customers, shareholders, employees, and society as a whole through our commitment to excellence in real estate development.
- Prioritize client needs to achieve superior satisfaction and long-term service relationships.
- Drive financial performance to deliver returns and protect investor capital.
- Empower staff through training, clear career pathways and inclusive workplace policies.
- Promote sustainable development practices and community engagement to benefit broader society.
| Indicator | Most recent reported figure |
|---|---|
| Revenue (most recent fiscal year) | RMB 6,500 million |
| Net profit / attributable profit | RMB 800 million |
| Gross margin | ~25% |
| Recurring fee ratio | ~60% of total revenue |
| Managed properties (count) | 520 projects |
| Gross floor area (GFA) under management | 200 million sqm |
| Employees (group) | ~40,000 |
| Market listing | HKEX: 6666.HK |
- Quality and standardization: roll out unified SOPs and digital quality-assurance tools to lift service consistency and reduce rework.
- Revenue mix optimization: increase recurring income streams (property management, community value-added services) while controlling cost-to-serve.
- Digital transformation: deploy IoT, smart-community platforms and data analytics to improve operational efficiency and resident experience.
- Sustainability initiatives: energy-saving retrofits, waste reduction programs and green certification targets for managed properties.
- Stakeholder transparency: strengthen investor communications, ESG disclosures and governance to support shareholder confidence.
- Customer satisfaction score (CSAT) and complaint resolution time.
- Recurring revenue ratio and recurring revenue compound annual growth rate (CAGR).
- Employee retention and training hours per employee.
- Energy intensity (kWh/sqm) and carbon emission reductions at managed assets.
- Return on equity (ROE) and EBITDA margin as financial performance indicators.
Evergrande Property Services Group Limited (6666.HK) - Vision Statement
Evergrande Property Services Group Limited (6666.HK) centers its vision on becoming a leading integrated property services provider that combines conscientious services and heartfelt companionship with resilient financial stewardship. The vision marries client-focused operational excellence with renewed corporate credibility after significant market stress in 2024.- Conscientious services: delivering attentive, standardized property management across residential and commercial portfolios.
- Heartfelt companionship: building long-term resident trust through empathy-led community services and lifecycle care.
- Quality-driven brand building: prioritizing service quality to protect and restore brand equity.
- Integrity and transparency: embedding governance, compliance, and clearer stakeholder communications.
- Financial resilience: integrating risk management, liquidity planning, and debt restructuring into the organizational DNA.
| Metric | Value (approx.) | Notes |
|---|---|---|
| Evergrande Group total liabilities | ~USD 300+ billion (≈ RMB 2 trillion) | Legacy parent-group debt that materially affected subsidiary credit and market trust. |
| Industry new home sales change (China) | ≈ -25% to -35% YoY (2023-2024) | Market contraction pressuring fee collections, contract starts, and project handovers. |
| Evergrande Property Services reported contracts under management | Millions of residential units / tens of millions sqm (platform scale) | Scale provides revenue diversification but also execution obligations for project completion. |
| Debt-restructuring commitments (company & affiliates) | Hundreds of billions RMB (parent-level) | Ongoing restructuring processes in 2024-2025 that influence subsidiary liquidity and supplier confidence. |
- Service excellence KPIs: customer satisfaction targets, response-time SLAs, and retention metrics tied to management compensation.
- Project integrity: completion rate targets for handovers and rectification turnarounds measured quarterly.
- Transparent reporting: periodic disclosure of cash collection rates, receivables aging, and progress on remediation of affected projects.
- Liquidity pressures revealed weakness between stated caring commitments and operational capacity when cashflow from parent and developers tightened.
- Trust erosion occurred when delays in project completion or service delivery contradicted "heartfelt companionship."
- Brand risk rose as stakeholders equated group-level distress with service reliability at the subsidiary level.
- Embed financial resilience into core values: explicit KPIs for liquidity coverage, receivables turnover, and contingency reserves.
- Prioritize debt restructuring and stakeholder renegotiation to secure working capital and supplier confidence.
- Accelerate completion of priority projects to restore homeowner trust and unlock management-fee cashflows.
- Strengthen governance: independent oversight, improved disclosure cadence, and risk committees linked to remuneration.
- Debt restructuring: negotiated timelines, creditor consents, and staged repayments aligned with cash-generating milestones.
- Project completion targets: clear schedules, escrowed funds for handover-critical works, and third-party verification.
- Customer protection measures: expedited complaint resolution, transitional support services, and transparent homeowner communications.
- Brand rehabilitation investments: quality audits, staff training in service empathy, and marketing tied to measurable quality gains.
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