English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 7 September 2020, 21:40 HKT/SGT
Share:
    

Source: Redsun Services Group Limited
Redsun Services Acquires Chuzhou Yurun for RMB36.7 Million
Further Expands Scope of Business Operations

HONG KONG, Sept 7, 2020 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group"), a fast-growing comprehensive community services provider focusing on the Yangtze River Delta, has today announced the acquisition of 51% equity interest in Chuzhou Yurun Property Management Company Limited ("Chuzhou Yurun") at a consideration of RMB36.7 million, the Group's first acquisition since its listing in July.

Chuzhou Yurun is principally engaged in the provision of property management services in Jiangsu Province, Anhui Province and Hunan Province in the PRC. As at 7 September 2020, the aggregate GFA of properties under management by Chuzhou Yurun is approximately 4.2 million sq.m. The latest acquisition will enable the Group to further expand its scale and business scope, thereby allowing the Group to reduce management costs, improve management efficiency and achieve economies of scales in the future. For the six months ended 30 June 2020, Chuzhou Yurun's profit reached RMB3.4 million. After the completion of the acquisition, Chuzhou Yurun will become a subsidiary of Redsun Services, hence immediately contributing to the Group's profitability.

The Group managed to complete its first acquisition project in just two months after listing in July 2020, a proof of the Group's consistently high execution ability. Redsun Services will take this acquisition as the first step, and will continue to seize strategic investments and acquisition opportunities in the future, so as to further expand the scale of business operations to enhance competitiveness.

About Redsun Services Group Limited
Established in Nanjing in 2003, Redsun Services Group Limited is a fast-growing comprehensive community service provider focusing on the Yangtze River Delta. With a vision of "making lives warmer," the Group strives to continuously "provide high-quality services for customers with sincerity." The Group has also established the regional leading position in the property management market of Jiangsu province and is well-recognized nationwide. The Group was recognized as one of the Top 100 Property Management Companies by CIA for four consecutive years since 2017 and ranked 25th among the 2020 Top 100 Property Management Companies in terms of overall strength.



Topic: Press release summary
Source: Redsun Services Group Limited

Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Redsun Services Group Limited Releated News
Mar 25, 2022 10:32 HKT/SGT
弘阳服务2021年股东应占溢利较去年经调整数据大增42.6%至人民币128.0百万元
Mar 25, 2022 10:31 HKT/SGT
弘陽服務2021年股東應佔溢利較去年經調整數據大增42.6%至人民幣128.0百萬元
Mar 25, 2022 10:30 HKT/SGT
REDSUN SERVICES's 2021 Annual Profit Attributable to Equity Shareholders Increases 42.6% to RMB128.0 million as compared with the Adjusted Figure in the Last Year
Aug 24, 2021 18:12 HKT/SGT
弘陽服務獲光銀國際給予「買入」評級
Aug 24, 2021 18:11 HKT/SGT
Redsun Services is given "Buy" Rating by CEB International
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575