Shimao Services

Name

Shimao Services

Legal name

Shimao Services Holdings Co., Ltd.

Website

https://shimaofuwu.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shimao Services is a Chinese integrated property management and community life services provider, listed on the Hong Kong Stock Exchange as 00873.HK, managing 3.46 billion sqm across 143+ cities and serving residential, university, hospital, and government clients through four business segments anchored by proprietary OCEAN X/OS technology platforms.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Services to Buildings and Dwellings (5617)

SIC

Real Estate Agents & Managers (For Others) (6531), Services-To Dwellings & Other Buildings (7340), Services-Management Services (8741)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Property management services
• Community value-added services
• Urban services
• Campus property services
• Smart home solutions

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Integrated Property Management Services: Core property management services covering residential, schools, hospitals, office buildings, industrial parks, and transportation hubs. Revenue generated from property management fees based on contracted/managed area and property fee rates. Property fee averaging 2.2 yuan/sqm/month. 2022 revenue: 50.42 billion yuan (58.4% of total), up 20.91% YoY. 2023 H1 revenue: 26.13 billion yuan, up 11.5% YoY.
2. Community Value-Added Services: Diversified community services including new retail (世茂世集), elderly care (椿熙堂), childcare (茂阅岛), group meals (浙大新宇), and other lifestyle services. Revenue from transaction fees and service fees. 2023 H1: 7.09 billion yuan. Elderly care (椿熙堂) grew 45.3% YoY to 71.94 million yuan.
3. City Services: Urban services including environmental sanitation, smart city operations, urban governance. Generated through government contracts and service fees. 2023 H1: 6.55 billion yuan, representing 16% of total revenue. Contract backlog exceeding 68 billion yuan. Covers 54 cities with 130+ projects.
4. Non-owner Value-added Services: Services provided to property developers including pre-sales management, inspection services, and consulting. Revenue declining as percentage of total (from 29% in 2018 to 3% in 2023 H1) as company reduces reliance on parent Shimao Group.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Shimao Services delivers integrated property management and community life services across 140+ Chinese cities, covering residential, education, healthcare, office, industrial, and transportation-hub properties. The company operates a four-pillar portfolio: (1) integrated property management with 3.46 billion sqm contracted area, (2) diversified value-added services including community retail, elderly care, childcare, catering, and smart home, (3) urban/city services branded 'City Big Butler' covering sanitation and smart city operations, and (4) digital technology services through subsidiary Shimao IoT. The offering is unified by the proprietary OCEAN X Service System and OCEAN OS Management System digital platforms.

Product overview

Shimao Services operates a multi-brand, multi-product service portfolio structured around four core business segments: (1) Integrated Property Management (综合物业管理) — the foundational service covering residential, commercial, and public-sector properties across 140+ cities; (2) Diversified Value-Added Services (多元增值服务) — comprising sub-brands including 耐勒思 NICELS (smart home), 世茂世集 (community retail), 椿熙堂 (elderly care), 茂阅岛 (childcare), and 浙大新宇 (campus services); (3) Urban/City Services (城市服务业务) branded as the 'City Big Butler' for government clients; and (4) Digital Technology (数字科技业务) through subsidiary Shimao IoT. The portfolio is underpinned by two proprietary platforms — the OCEAN X iBlue Service System (customer-facing service standards and technology integration) and the OCEAN OS iBlue Management System (internal digital operations, grid management, and the 茂管家/owner apps). This is a platform-plus-multiple-brands/module architecture where the OCEAN systems serve as the operational backbone and each sub-brand operates semi-independently across distinct service verticals.

Differentiator

Problem solved

Functional benefit

Brands

• 浙大新宇 (Zhejiang University New Universe): Campus property management and catering services brand, ranked TOP1 in China for school property management, serving 280+ universities and parks with over 2 million teachers and students
• 椿熙堂 (Chunxi Tang)
• 世茂物联 (Shimao IoT)
• 耐勒思 (NICELS)
• 茂阅岛 (Maoyuedao)
• 世茂世集 (Shimao Shiji)
• 吉立物业 (Jili Property)
• 星茂社区 (Xingmao Community)

Products and services

• Integrated Property Management Service (综合物业管理) Shimao Services' foundational integrated property management service covering residential, school, hospital, office, industrial park, and transportation hub property types across 140+ cities in China, managing 3.46 billion sqm of contracted area. Average property management fee is 2.2 yuan/sqm/month with 94-97% renewal rates.
• City Services / City Butler (城市大管家 / 城市服务业务) Urban services business covering citywide environmental sanitation, smart city operations, urban governance, and integrated city management for government clients. Covers 54+ cities with 130+ projects and a total contract backlog exceeding 68 billion yuan. Built through acquisitions of 金沙田科技 and 世路源环境.
• NICELS Smart Home (耐勒思) Whole-home smart home brand under Shimao IoT offering the '1+6+N' smart home ecosystem covering six smart spaces (entry, kitchen, bathroom, bedroom, balcony, living room) with smart control, lighting/sensing, smart entry, and home appliances. 20+ products, 200+ SKUs, controlled via S Home+ mobile app.
• Shimao Shiji Community Retail (世茂世集) Community new retail brand offering proximity-based e-commerce for residential communities, with 460 front warehouses nationwide enabling 15-minute delivery. Operates self-owned brand 'Shiji Core Select' (世集芯选).
• Chunxi Tang Elderly Care (椿熙堂) Elderly care service brand providing community-based, home-based, and institutional elderly care. Operates 325 community stations, 10 elderly care institutions, covering 23 cities and 300,000+ users. Integrates AI health monitoring with smart IoT devices for elderly safety and health management.
• Zhejiang University New Universe Campus Services (浙大新宇) Campus property and catering services brand serving 270-280+ university campuses with 2 million+ students and faculty. Covers property management, catering (HACCP certified), dormitory, and commercial services. Number one campus property service brand in China; 2022 National Top 100 Campus Catering Enterprise.
• Maoyuedao Childcare (茂阅岛) Community childcare and preschool education brand operating in Shanghai and Wuxi with 4 campuses. Provides early childhood education services for community families within Shimao-managed residential properties.
• Jili Property Hospital Services (吉利物业) Hospital logistics and property services with over 30% market share in Changsha Grade-A hospitals and full coverage of the Xiangya Hospital System in Hunan Province. 20+ years of dedicated hospital后勤 experience.
• Xingmao Community (Red Property / 星茂社区) Red Property (红色物业) community brand integrating Party-building with community governance. Has established 38+ red property demonstration projects, 150+ volunteer teams, and 77 party-member demonstration posts across managed communities.
• Digital Technology Solutions (Shimao IoT / 世茂物联) Shimao IoT digital technology subsidiary providing smart community, smart home, smart campus, smart hospital, smart building, and smart park solutions. A High-tech Enterprise (高新技术企业) and Double-Soft Enterprise (双软企业) offering full lifecycle services from design to operation through AI, IoT, cloud computing, big data, digital twin, and cloud-edge computing.

Quantifiable outcome

• Contracted area reached 346 million sqm with 77.6% from third-party sources
• +7 more outcomes

Named customers14 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core.

• Beijing Normal University Technology Group (北师大科技集团)coreStrategic or Co-development Partner · 29 May 2023Strategic cooperation covering property services, community education, smart campus, and vocational education. Leverages Beijing Normal University's educational research resources and Shimao Services' community service capabilities to develop industry standards, vocational education, and joint talent cultivation for the property management industry.
• 椿熙堂 (Chunxi Hall)coreStrategic or Co-development Partner · 1 January 2021Elderly care service partnership since August 2021. Developing 'property service + elderly care service' model covering home-based, community, and institutional elderly care. Shimao Services invested in and partnered with Chunxi Hall to expand into senior care services.
• 浙大新宇 (Zhejiang University New Universe)coreOthersSubsidiary specializing in campus property services. TOP1 Chinese school property management enterprise. Covers 280+ campuses and parks serving 2 million+ teachers and students across 10+ provinces. Services include property, catering, dormitory, and commercial services.
• 吉立物业 (Jili Property)coreOthersSubsidiary with 20+ years experience in hospital后勤 services. Achieved over 30% market share in Changsha's top-tier hospitals and full coverage of Xiangya Hospital System in Hunan Province.
• 世路源环境 (Shilu Yuan Environment)coreOthersAcquired in April 2021 to build city services capabilities. Combined with 金沙田科技 to provide environmental sanitation, urban governance, and comprehensive city services.
• 金沙田科技 (Jinshatian Technology)coreOthersAcquired in April 2021 to build city services capabilities. Provides sanitation equipment, smart city operations, and urban governance services. Combined with 世路源环境 to form the city services business foundation.
• Shimao IoT (世茂物联)coreOthersHigh-tech enterprise and dual-software enterprise subsidiary providing space intelligence solutions. Offers smart home, smart community, smart campus, smart hospital, smart building, and smart park solutions through AI, IoT, cloud computing, and big data technologies.

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Country Garden Services: Country Garden Services is the largest property management company in China by area under management, providing integrated property management services including residential, commercial, and city services. Directly comparable to Shimao Services in business model, customer base (residential owners and developers), and service breadth across Chinese cities.
• Greentown Service: Greentown Service is a major Chinese property management company affiliated with Greentown China, providing residential property management, school and hospital property services, and community value-added services. Directly comparable for its campus services expansion and high renewal rates, similar to Shimao's vertical specialization strategy.
• China Resources Mixc Lifestyle: China Resources Mixc Lifestyle is a leading Chinese property management and commercial operations company specializing in premium residential and commercial properties. Both target high-tier cities with industry-leading property fee rates and pursue expansion into commercial operations and value-added services.
• Longfor Smart Living: Longfor Smart Living is the property management arm of Longfor Group, providing premium residential property services and commercial operations in China. Comparable to Shimao Services in pursuing high-tier city strategy and developing diversified service portfolio beyond basic property management.
• Sunac Services: Sunac Services is the property management arm of Sunac China, providing integrated property management for residential and commercial properties. Both companies are subsidiaries of distressed Chinese developers (Sunac and Shimao Group), making them peers in navigating parent-company financial distress.
• Vanke Service (万物云): Vanke Service is the property management arm of China Vanke, one of China's largest developers, providing residential, commercial, and smart community services. Both Shimao Services and Vanke Service are developer-affiliated, publicly listed, and compete for third-party property management contracts in China's urban markets.
• CIFI Ever Sunshine Services: CIFI Ever Sunshine Services is a Hong Kong-listed Chinese property management company providing residential and commercial property services. Comparable to Shimao Services in size, business model (third-party expansion focus), and developer-affiliated structure.
• A-Living Services (雅生活): A-Living Services is a major Chinese property management company that grew rapidly through acquisitions, similar to Shimao Services' acquisition-led expansion strategy. Both are developer-affiliated, listed in Hong Kong, and have diversified into city services and value-added segments.
• KWG Living (合景悠活): KWG Living Group is a Chinese property management and commercial operations company providing residential property services and premium commercial property management. Comparable to Shimao Services in residential focus and expansion into commercial and value-added services.

Broad incumbents

• Cushman & Wakefield: Cushman & Wakefield is a global commercial real estate services firm offering property management, facilities management, and valuation services. Comparable to Shimao Services' commercial and facilities management segments, particularly for office and industrial property management, though operates at much larger scale globally with primarily B2B focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shimao Services