Shimao Services (00873.HK) focuses on special segmented service formats to create industry leaders in the vertical field of schools and hospitals

Gelonghui Finance ·  08/31/2023 17:23

As of June 30, 2023, Shimao Services(00873.HK)Its subsidiary, Zhejiang University Xinyu, has served a total of 270 universities and parks, covering 38 cities. The 985 colleges and universities it serves account for 23%, making it the top 1 school property management brand in China. Its subsidiary “Geely Property”, which focuses on more than 20 years of experience in hospital logistics services, has a market share of over 30% in the top three hospitals in Changsha.

In the first half of the year, Xinyu of Zhejiang University adopted a strategic focus to expand a number of high-quality projects from Party A, such as the Zhejiang University Hangzhou International Science and Technology Innovation Center project with a contract amount of 51.7 million yuan, and the service contract amount for the Liangxiang Campus of Capital Normal University was 41.34 million yuan. Furthermore, the “one heart, one axis” regional market focus layout has been clarified. Zhejiang University Xinyu has left the Zhejiang University base with Jiangsu, Zhejiang, and Shanghai as the “heart” and the eastern coast as the “axis.” During the reporting period, Xinyu of Zhejiang University accounted for 92% of the annual saturated revenue of new development projects on the “one heart, one axis”, effectively achieving regional focus on the project; at the same time, “schools and parks” accounted for 88% of the annual saturated revenue of its new development projects, effectively achieving focus on the business format.

In the field of hospital property services, in the first half of 2023, Shimao Services continued to thoroughly explore “professional public building business management” plus “segmented scenario value-added services”. In the field of hospital services, its subsidiary Geely Property explored various types of value-added services such as nursing services, nursing bed rental services, hospital staff and social canteens, etc., while expanding the judicial system and public construction business format to expand the business format. As of June 30, 2023, the contract renewal amount for Geely Properties has increased by 61% compared to the original contract amount. Up to now, Shimao Services has not only achieved full coverage of the services of Hunan Xiangya Hospital, but has also served many of Shandong's top three hospitals, such as Weihai Municipal Hospital, Yantai Hospital of Traditional Chinese Medicine, and Muping Binzhou Medical College.

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