ZHONG AN GROUP

What ZHONG AN GROUP does

Zhong An Group Limited (众安集团, 00672.HK) is a Chinese diversified real estate and lifestyle services conglomerate headquartered in Xiaoshan District, Hangzhou. Founded in 1997 by Shi Zhong'an, the group completed its IPO on the Hong Kong Stock Exchange in November 2007 and has been in operation for over 28 years. Headcount has been referenced at over 4,000 employees, and total assets reached approximately 496.1 billion RMB as of mid-2021. The group is structured across four primary business segments — Real Estate Development, Commercial Operations, Smart Life Services, and Capital Investment — and has expanded into adjacent verticals including hotels (Boruite/Bright Hotel Group), cinema (Cinemall 新幕影城), early childhood education (Maggie & Rose 麦琪萝丝), healthcare and rehabilitation (Taizhou Green Heart), cultural tourism, and Japan real estate (KCJ International).

The company's core technology platform integrates IoT sensors, AI-powered monitoring, and robotics into community property services, branded as the 'Well Life+ Full Lifecycle Service System' (well美好+). It includes the proprietary Zhongan Smart Inspection Platform (众安智慧验房平台), a mobile-based collaborative quality-control system spanning the property delivery lifecycle. Revenue is generated primarily through one-time residential property sales across product lines spanning high-rise apartments, garden-style courtyard residences (园系), urban elite mansions (府系), TOD mixed-use complexes (New City series), and Future Community (未来社区) developments incorporating nine future scenarios. Secondary recurring and fee-based streams include commercial property operations, hotel management, cinema admissions, smart property services via Zhongan Smart Living (众安智慧生活), capital management via Zhongan Capital Investments, and education/cultural tourism operations.

The group serves multiple customer segments: end-user homebuyers concentrated in the Yangtze River Delta (over 70% of land bank is in Zhejiang Province and nearly half is in Greater Hangzhou), commercial tenants and consumers across more than 200 commercial complexes, capital markets investors (the group operates three HKEX-listed entities: 00672.HK for real estate, 01321.HK China New City for commercial operations, and Smart Living listed July 2023), senior-living residents through the Taizhou Green Heart healthcare community, and cultural tourism visitors. Go-to-market combines direct sales at project sites across 15+ cities, digital channels including a Tmall flagship store launched September 2021, channel partner distribution, and enterprise field sales targeting institutional investors through reverse roadshows and management meetings.

Name

ZHONG AN GROUP

Legal name

众安集团有限公司

Website

https://zhonganjt.cn

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Zhong An Group is a Chinese diversified real estate developer founded in 1997 and listed on HKEX (00672.HK), primarily serving homebuyers and commercial tenants in the Yangtze River Delta through residential development, commercial operations, smart property services, and lifestyle businesses.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Residential property development
• Commercial property operations
• Smart property management
• Hospitality hotel services
• Real estate investment

Headquarters

HQ city

Xiaoshan

HQ country

China

HQ region

Asia

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. 房地产销售 (Real Estate Sales): Primary revenue stream from residential property development. Core business generating the majority of group revenue through sale of residential and commercial properties across the Yangtze River Delta. Properties include high-rise, garden villas, commercial complexes, and future community projects.
2. 商业运营 (Commercial Operations): Revenue from commercial property operations including shopping centers (众安广场, 众安中心), themed commercial streets (紫街, 快乐时光), and retail management through China New City Group (01321.HK).
3. 酒店管理 (Hotel Management): Revenue from operating Bright Hotel Group (伯瑞特酒店集团), with hotel brands including Boruite Boutique Hotel, Bright Residence serviced apartments, Boruite Resort Hotel, and Boruite Business Hotel, covering premium to five-star segments.
4. 影视产业 (Film & Cinema): Revenue from Cinemall New Mu Cinema (新幕影城) cinema chain operations across Zhejiang, Jiangsu, Anhui, Shanghai, Chongqing, and Chengdu. Cinema investment, operations, management and film investment production.
5. 智慧生活/物业服务 (Smart Living / Property Services): Property management services including traditional residential services, community增值服务 (value-added services), and non-customer增值服务. Covers housing rental, second-hand property agency services, and community commercial group buying.
6. 金融服务 (Financial Services): Zhongan Capital Investments manages investment and fund management operations in Shanghai Bund headquarters. Investment sectors include AI, healthcare, new consumption, and real estate healthcare. Revenue from PE investments, secondary market investments, real estate healthcare investments, and investment banking fees.
7. 教育产业 (Education): Revenue from Maggie & Rose (麦琪萝丝) family club operations - a UK-origin family club providing early childhood education, play areas, dining, and party services. Expansion through direct stores in London, Hong Kong, Shanghai, and Hangzhou.
8. 文旅产业 (Cultural Tourism): Revenue from cultural tourism development including rural tourism construction, agricultural cultural heritage manufacturing, intangible cultural heritage preservation, and tourism project investment/development in Fuyang Dongqiao Town.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Zhong An Group fundamentally develops and sells residential real estate properties across the Yangtze River Delta, including high-rise apartments, Chinese-style courtyard villas, garden residences, TOD mixed-use complexes, and future community projects. Beyond property sales, the group operates commercial complexes, shopping centers, themed commercial streets, hotels, cinemas, early childhood education clubs, property management services, healthcare/senior living communities, cultural tourism sites, and capital investment activities, creating an integrated "city unit development and operation services" ecosystem.

Product overview

Zhong An Group operates as a diversified real estate and lifestyle services conglomerate organized across four primary business segments: Real Estate Development (房产), Commercial Operations (商业), Smart Life Services (服务), and Capital Investment (资本). The real estate segment encompasses multiple residential product lines including the Garden Series (园系), Mansion Series (府系), and New City Series (新城市), along with Future Community (未来社区) smart living concepts. Commercial operations include China New City (01321.HK) listed platform, shopping centers (众安广场), hotels (伯瑞特酒店集团), cinemas (Cinemall新幕影城), education (麦琪萝丝), and cultural/tourism ventures. The service segment provides smart property management through the Smart Life (智慧生活) platform and the well美好+ lifecycle service system, leveraging IoT, AI, and robotics technologies. Capital operations manage investment portfolios including technology sector holdings. The company is evolving from traditional real estate toward integrated community development with technology-enabled lifestyle services.

Differentiator

Problem solved

Functional benefit

Brands

• 众安中心: High-end commercial complex brand integrating financial center, business offices, star-rated dining, high-end leisure, ultra-luxury hotel, and premium amenities.
• 众安广场
• 紫街
• 快乐时光
• 未来社区
• 园系
• 府系
• 新城市
• 未来系
• Bright Residence (伯瑞特酒店式服务公寓)
• 伯瑞特度假酒店
• Cinemall新幕影城

Products and services

• Residential Real Estate Development Development and sale of residential properties across the Yangtze River Delta including high-rise apartments, garden residences (园系), mansion-style residences (府系), TOD New City complexes (新城市), and Future Community projects, serving 300,000+ households.
• Commercial Property Operations (China New City, 01321.HK) Operation of shopping centers (Zhongan Plaza 众安广场, Zhongan Center 众安中心), themed commercial streets (Zijin Street 紫街, Kuaile Shiguang 快乐时光), and high-end commercial complexes covering over 2 million sqm across Hangzhou, Ningbo, Yiwu, Huaibei, and other Yangtze River Delta cities.
• Boruite Hotel Group Hospitality Hotel management and operations under Boruite (伯瑞特) brand family covering boutique, business, resort (including five-star with hot springs, villas, family IP experiences), and serviced apartment segments (Bright Residence) for travelers, corporate clients, expats, and resort guests.
• Cinemall New Mu Cinema Operations Cinema chain operations through Cinemall New Mu Cinema (新幕影城) across multiple provinces in China, providing high-end cinema experiences, alongside film investment and production activities.
• Maggie & Rose Family Clubs Family club and early childhood education services under the Maggie & Rose (麦琪萝丝) UK-origin brand, providing play areas, dining, parties, and learning services for young families with operation in London, Hong Kong, Shanghai, and Hangzhou.
• Zhongan Smart Living Property Management Services Property management services covering residential, villa, apartment, office, commercial complex, government building, industrial park, and school properties, including traditional residential services, community value-added services, non-customer value-added services, housing rental, second-hand property agency, community commercial group buying, and IoT/AI/Robotics-enabled smart community operations via the well美好+ lifecycle service system. Listed on HKEX (02316.HK) in July 2023.
• Zhongan Capital Investment Management Investment management and asset management services through Zhongan Capital Investments (众安资本投资有限公司) headquartered at the Shanghai Bund, operating private equity funds, secondary market investments, real estate healthcare investments, and investment banking businesses across AI, healthcare, new consumption, and real estate healthcare sectors.
• Healthcare and Senior Living Community Services Healthcare and senior living community services through Zhongan Healthcare Industry (众安健康产业) including the Taizhou Green Heart Healthcare Project (台州绿心康养项目), integrating rehabilitation hospitals, medical services, and senior care communities for elderly residents and healthcare-seekers in cooperation with Taizhou University.
• Cultural Tourism Development Cultural tourism development through Zhongan Cultural Tourism (众安文旅) covering rural tourism construction, agricultural cultural heritage manufacturing, intangible cultural heritage preservation, and tourism project investment and development in Fuyang Dongqiao Town and other locations.

Quantifiable outcome

• 96% delivery rate for Puhe Yundu (蒲荷芸邸) project during concentrated delivery period, with multiple projects achieving 95%+ first-day delivery rate in 2023
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

16 partnerships are on record, tiered core and minor.

• 浙江省交投控股 (Zhejiang Provincial Transportation Investment Holding)coreStrategic or Co-development Partner · 3 August 2023Zhong An Group signed a strategic cooperation agreement with Zhejiang Provincial Transportation Investment Holding on August 3, 2023. The partnership focuses on comprehensive strategic cooperation in real estate development, urban development, and related business sectors, leveraging the transportation infrastructure resources and regional development capabilities of both parties.
• 台州学院 (Taizhou University)coreStrategic or Co-development Partner · 16 December 2021Zhong An Group and Taizhou University signed a comprehensive cooperation agreement covering rehabilitation medicine talent cultivation, rehabilitation medicine discipline development, rehabilitation medical service improvement, and rehabilitation hospital construction management. A high-standard Taizhou University Affiliated Rehabilitation Hospital will be built in the Taizhou Green Heart area. Zhong An also donated 12 million RMB to establish the '台州学院众安康养产业基金' (Taizhou University Zhongan Healthcare Industry Fund).
• 台州学院附属康复医院 (筹备) / 台州学院医学院 (Taizhou University Affiliated Rehabilitation Hospital (preparatory) / Taizhou University Medical School)coreStrategic or Co-development Partner · 16 December 2021As part of the Taizhou University partnership, a high-standard Level 3 rehabilitation specialty hospital will be built in the Jiaojiang District Green Heart area of Taizhou, and Taizhou University Zhongan Healthcare Industry College will be established. The partnership leverages Taizhou University's medical faculty resources including 5 teaching institutions and 5 undergraduate programs including rehabilitation therapeutics.
• 华统集团 (Huatong Group)coreStrategic or Co-development Partner · 30 March 2021Zhong An Group and Huatong Group jointly developed the Xiu Hu He Yuan (秀湖荷院) project in Yiwu. This strong partnership combines Zhong An's real estate development expertise with Huatong Group's local resources and market knowledge to create a premium residential project in the heart of Yiwu's historical district.
• 绿城管理集团 (Greentown Management Group)coreImplementation/ SI/ Consulting Partner · 12 September 2020Zhongan and Greentown Management Group jointly developed the Nanhu Mingyue (南湖明月) project, combining Greentown's extensive experience in Chinese-style courtyard development with Zhongan Group's brand philosophy of '众享美好生活'. The project brought together the best of Hangzhou craftsmanship and brand resources for a premium residential product.
• Maggie & Rose (UK)coreOEM/ Whitelabel/ Licensing Partner · 24 November 2017China New City (众安 subsidiary, 01321.HK) partnered with UK-based Maggie & Rose family club brand on November 24, 2017, for entering the parent-child and children's education sector. In 2019, China New City acquired 46.52% of issued share capital of Maggie & Rose and established a wholly-owned subsidiary - Zhongan Education - to fully develop education business.
• KCJ日本 (KCJ Japan)minorChannel Partner/ Reseller/ Distributor · 9 May 2016China New City established a joint venture with Japanese company Geno巴株式会社 in Osaka in May 2016, with KCJ Japan (a China New City subsidiary) formally registered. In March 2017, KCJ Japan successfully purchased 24 plots of land on Awaji Island covering 135,002 sqm, marking entry into the Japanese real estate market.
• 中国农业银行浙江省分行 (Agricultural Bank of China Zhejiang Branch)coreStrategic or Co-development PartnerZhong An Group signed a Merger & Acquisition Business Strategic Cooperation Agreement with Agricultural Bank of China Zhejiang Branch, establishing a long-term, stable, mutually beneficial, and win-win strategic partnership for M&A business cooperation, leveraging the financial strength and banking services of the Agricultural Bank.
• 绿城服务 (Greentown Property Service)minorImplementation/ SI/ Consulting PartnerGreentown Property Service serves as the life service manager for the Gu Yue Jun Fu project, providing E.O (Life Organizer), E.M (Engineering Manager), E.I (Environment Improver), and E.V (Security Maintainer) four butler services. Greentown brings professional property management expertise to enhance the service level of Zhongan high-end projects.
• 苏州园林发展 (Suzhou Garden Development)minorImplementation/ SI/ Consulting PartnerSuzhou Garden Development was commissioned for the landscape design of Gu Yue Jun Fu (古越郡府), drawing inspiration from classical Suzhou gardens like the Humble Administrator's Garden and Lingering Garden, applying classical Chinese landscape design techniques.
• 绿城利普设计院 (Greentown Lipu Design Institute)minorImplementation/ SI/ Consulting PartnerGreentown Lipu Design Institute was commissioned for the architectural design of Gu Yue Jun Fu (古越郡府), following traditional Chinese ceremonial principles and the concept of 'harmony between heaven and man', creating Jiangnan Fangxiang-style spatial forms and street textures.
• 香山帮匠人 (Xiangshan Gang Craftsmen)minorImplementation/ SI/ Consulting PartnerNational treasure-level craftsmen from Xiangshan Gang were invited to craft the Gu Yue Jun Fu project using traditional Chinese construction techniques including major woodwork, minor woodwork, tile work, brick decoration, and rockery construction - techniques also used in World Heritage site preservation.
• 西湖投资集团 (West Lake Investment Group)coreStrategic or Co-development PartnerWest Lake Investment Group (西湖投资集团), a Xihu District government-affiliated state-owned enterprise, partnered with Zhongan Group to develop the Zijin Lanxuan (紫金兰轩) project in the Zijin Port core area of Hangzhou. The partnership leverages the government-affiliated group's strength and city co-development expertise.
• 杭州市城建开发集团 (大家房产) (Hangzhou City Construction Development Group / Dajia Property)coreStrategic or Co-development PartnerZhongan Group partnered with Hangzhou City Construction Development Group (Dajia Property) to co-develop the Longgang Xiagon Future Community (温州龙港下涝未来社区) project, combining both companies' expertise in future community development and urban residential projects.
• 壹基金 (One Foundation)minorGTM or Marketing PartnerZhongan Charity Foundation partnered with One Foundation (壹基金) for charitable activities including warm package donations during the 23rd anniversary celebration, and the 99 Public Welfare Day activities, combining corporate charitable resources with the foundation's platform.
• 各媒体机构 (Media Organizations)minorGTM or Marketing PartnerAt the September 2021 '众享生活品牌发布会', Zhongan signed strategic media cooperation agreements with various media organizations for the future community brand promotion and public relations support.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Greentown China Holdings: Hangzhou-headquartered HK-listed residential developer with overlapping premium Chinese-style villa/courtyard product positioning and active project-level co-development partnerships with Zhong An (e.g., Nanhu Mingyue, Gu Yue Jun Fu). Both target the same Zhejiang high-end buyer segment with comparable craftsmanship-led brand positioning.
• Longfor Group: Major diversified HK-listed mainland developer combining residential development with commercial property, rental housing, and property services. Closely mirrors Zhong An's multi-segment structure across real estate, commercial operations, and ongoing property management.
• Powerlong Real Estate: Mid-tier HK-listed mainland developer combining residential development, commercial complexes, hotels, and property management in a comparable diversified-structure pattern to Zhong An, with a strong franchise in the Yangtze River Delta region.

Broad incumbents

• Yuexiu Property: State-backed HK-listed developer active in residential, commercial, and TOD projects, with a similar mix of property development and recurring income. Both emphasize disciplined balance-sheet and premium-segment positioning.
• China Vanke: One of China's largest national residential developers (A+H listed). Overlaps with Zhong An on residential development scale, diversified services (property management), and three-red-lines compliance, but operates at a much larger national footprint rather than a Zhejiang-anchored model.
• China Resources Land: State-backed HK-listed mainland developer with diversified residential, commercial, and property management operations including mixed-use complexes. Larger scale and broader geographic footprint, but directly comparable on the integrated real estate-plus-services business model.
• China Overseas Land & Investment (COLI): State-backed, financially conservative HK-listed mainland developer with similarly robust balance-sheet profile and a track record of outperforming in market downturns. Comparable as a peer benchmark for stability-oriented investors, though larger scale and broader geographic mix.

Regional players

• Greenland Hong Kong Holdings: Subsidiary of state-backed Shanghai Greenland with overlapping Yangtze River Delta exposure and mixed-use development expertise. Comparable on regional scale and product format, though anchored to Shanghai rather than Hangzhou.

Emerging players

• Country Garden Services / Greentown Service / Sunac Services: Leading listed Chinese property management companies pursuing smart living platforms with IoT/AI integration - directly comparable to Zhong An Smart Living (02316.HK) given overlap in technology-enabled property services and similar third-party expansion strategies.
• China South City Holdings (now COGO): Specialized in large-scale trade/logistics+residential mixed-use complexes in lower-tier Chinese cities, overlapping with Zhong An's TOD/New City product line that integrates residential, commercial, and lifestyle services around transportation hubs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about ZHONG AN GROUP