Fineland Real Estate Services Group will be listed on the Main Board of SEHK on 28 May 2020.
This will further solidify its position and help to accelerate its development in the real estate agency services industry.
Fineland Real Estate Services is pleased to announce that the formal approval for the transfer of listing of its shares from GEM of the SEHK ("GEM") to the Main Board ("the Transfer of Listing") was granted by the SEHK on 27 May 2020. The shares will be traded on the Main Board under the new stock code ''9978'' and trading is expected to commence at 9:00 a.m. on Thursday, 28 May 2020.
Fineland Real Estate Services has been listed on GEM since 15 November 2017. The Group is a professional real estate agency services provider in the PRC, with a focus mainly in the Greater Bay Area and some of the surrounding provinces, providing services including real estate agency services for the primary and secondary property markets, channeling integration platform services, property research and consultancy services and one-stop Integrated Services. In recent years, the Group has constantly expanded its business, and exhibited improvements in revenue, profitability and brand recognition. In 2020, the Group was recognized as one of the Top 9 property consultancy and agencies on the China Real Estate Top 100 Enterprises list.
Since its GEM listing, the Group has seized market opportunities, expanded its customer base and increased the number of projects undertaken, resulting in growth in both revenue and profitability. For primary market real estate agency services in 2019, the Group provided agency services for 229 projects, and expanded its business to cover seven out of the nine cities of the Greater Bay Area in Guangdong. The Group also entered the Guilin market in Guangxi Province, and will continue to cultivate its business in the Greater Bay Area and expects to expand its footprint in the surrounding cities.
The board of directors is of the view that the Transfer of Listing will reinforce the Group's corporate governance and credibility, and further promote the Group's corporate profile and recognition among public investors, resulting in a larger investor base and higher trading liquidity of its shares. In addition, the Transfer of Listing will allow the Group to solidify its position in the industry and enhance its competitive strengths in retaining and attracting professional staff and customers. As a result, the Directors are of the view that the Transfer of Listing will be beneficial to the future growth, financing flexibility, and business development of the Group; bring considerable investment opportunities; and create long-term value for its shareholders.
With the coordinated regional economic development of the Greater Bay Area, more property developers have purchased land and are developing primary property projects in this region, including real estate companies that are from outside the Greater Bay Area and not historically involved in this area. This participation shows their confidence towards the real estate market in the Greater Bay Area. The Group believes that this trend is expected to continue. Looking towards the future, as a reputable professional real estate agency services provider in the Greater Bay Area, the Group will continue to strengthen its competitive advantages. With its rich experiences and resources, the Group intends to accelerate its expansion further into the Greater Bay Area market, proactively improve its market share and at the same time further integrate its upstream and downstream industry resources. The Group will endeavor to improve its core competitiveness, and exhibit continued excellent business performance to its investors.
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About Fineland Real Estate Services Group Limited
Fineland Real Estate Services Group Limited (Stock Code: 09978.hk) is an integrated real estate service provider under Fineland Group, one of the top 100 real estate enterprises in China，and was successfully listed on GEM of the Stock Exchange of Hong Kong on 15 November 2017. Fineland Real Estate Services Group Limited is one of the few listed real estate agency companies that has a controlling shareholder with an extensive background in real estate development. It owns four major brands, including Fineland Real Estate Consultant, Fineland Asset Management, Fang Yuan Bao and Hai Yuan Bao, focusing on primary real estate agency services and professional planning consultancy services, secondary real estate agency services, channel resources integration and one-stop integrated services and other value-added services.
