According to disclosure from the Hong Kong Stock Exchange on September 30, China National Credit Service Holdings Limited (referred to as: National Credit Service) has submitted a listing application to the Hong Kong Stock Exchange's Main Board, with Fosun International Capital serving as its sole sponsor.
According to data from CIC, based on revenue in 2024, National Credit Service ranks among the top 40 in the Greater Bay Area property management and property agency services market, holding a market share of 0.08%.
The prospectus shows that National Credit Service was established in 2006 and is a comprehensive property management and agency service provider in Guangdong and Hunan provinces. Over the years, it has built an influential brand in Guangdong Province with an excellent reputation.
National Credit Service's brand and services have been recognized by multiple authoritative institutions. It has been successively rated by the China Property Management Research Institute (CPMRI) and China Index Academy (CIA) as one of China's Top 100 Property Service Enterprise Brand Value companies and China's Top 100 Property Service Enterprises, as well as a Leading Growth Enterprise among China's Top 100 Property Service Enterprises, a Leading Enterprise in China's Distinctive Property Services, and a Leading Brand Enterprise in China's Specialized Property Service Operations. Additionally, it has been recognized by the Guangdong Property Management Industry Association as a Comprehensive Strength Enterprise in Guangdong's property services.
National Credit Service's strategic focus is to provide high-quality property management services, positioned to meet the needs of both residential and non-residential properties, including shops, hotels, schools, office spaces, public and other properties such as government buildings, public facilities, industrial facilities, property sales centers, and property developer show units.
The company will continue to focus strategically on the Greater Bay Area and Central China region, both renowned for their economic potential and continuous urban development. According to CIC's analysis, National Credit Service believes that these regions' construction of economic circles centered on transportation hubs, increasingly strengthened urban industrial planning, and continuous advancement of urban redevelopment plans all contribute to the growing demand for high-quality property management services.
To capitalize on these trends, National Credit Service will provide customized services to meet specific needs of property owners and tenants in these active markets. National Credit Service believes that with increasing market recognition, comprehensive services, and steadfast support and cooperation from its controlling shareholder group companies, the company is well-positioned to capture growth opportunities in the industry.
From a financial perspective, National Credit Service's revenue increased by approximately 30.9% from approximately RMB 88.127 million for the year ended December 31, 2022, to approximately RMB 115.4 million for the year ended December 31, 2023, and further increased by approximately 69.9% to approximately RMB 196 million for the year ended December 31, 2024. Revenue increased by 8.6% from RMB 82.101 million for the six months ended June 30, 2024, to RMB 89.135 million for the same period in 2025, reflecting growth in revenue from the company's property management services, property agency services, and value-added services.
According to the prospectus, National Credit Service also faces major risks including inability to obtain new service agreements or renew existing service agreements at the planned or desired pace or price; being affected by adverse changes in government policies or business environment; and inability to control operating costs and maintain or improve profitability levels.