Kangqiao Service Group Limited (“Kangqiao Service”, Stock Code: 02205.HK) completed its IPO and listing on the Main Board of the Hong Kong Stock Exchange on July 16, 2021, offering 175 million shares at HKD 3.68 per share, among which 52.5 million shares are under the Hong Kong Public Offering and the remaining 122.5 million shares are for International Placing.

Kangqiao Service is a renowned integrated property management service provider in China, with a leading position in Henan province. The company has been building up its presence in Henan while taking steps to expand into other key markets including Zhejiang, Jiangsu, Hubei, Hebei, Guangdong, Shandong and Shaanxi. By December 31, 2020, Kangqiao Service is managing 112 estates with an aggregate area under management of 15.70 million square meters in 17 cities across 3 provinces. Kangqiao Service’s revenues from 2018 to 2020 were RMB 228.9 million, RMB 362.8 million and RMB 575.6 million respectively, representing a YoY increase of 58.5% and 58.6%, and its net income were RMB 21.7 million, RMB 60.1 and RMB 91.8 respectively, with a YoY growth of 177.1% and 52.6%. The company has been chosen as one of the Top 100 Property Service Enterprises by China Index Academy for 6 consecutive years since 2016 and ranked 37th in 2021 in terms of the comprehensive strength.

As the Chinese legal adviser to the issuer, Jingtian & Gongcheng’s legal team provided one-stop, end-to-end legal services for the listing of Kangqiao Service, including assisting in the design of the domestic and overseas restructuring architecture, conducting thorough Chinese legal due diligence, analyzing and resolving critical legal issues, offering legal opinions and assisting in answering multiple rounds of inquiries from the regulator. The team is highly trusted and recognized by the client for its strict work attitude as well as effective and timely legal services.