What Evergrande Property does

Evergrande Property Services Group Limited (恒大物业, HKEX: 6666.HK) is a China-headquartered, Cayman-domiciled property management company founded in 1997 (originally as Guangzhou Jinbi Property Management Co., Ltd.) and listed on the Hong Kong Stock Exchange in December 2020. The company manages approximately 579 million square meters of gross floor area across more than 3,000 projects in roughly 300 Chinese cities, serving about 3.95 million owners, and operates across five service verticals: residential (Hengmei Community / 恒美社区), commercial & enterprise, industrial parks, tourism & health, and public services / urban governance. Sub-brands include wholly-owned subsidiaries Asia-Pacific Hotel Property, Futian Property, Jindu Property, Jie Baili Property, and Tianxiang Property, acquired for vertical expansion into hotel, hospital, and transportation-hub management.

The company monetizes primarily through recurring property management fees on a subscription/monthly billing basis, with community value-added services (group buying, home decoration, housekeeping, insurance brokerage, elderly care) layered on top, and non-owner value-added services (pre-project consulting, design advice, delivery inspection) sold to developers. Technology is delivered via the Weiwu Cloud (微物云) smart property platform co-developed with Tencent — integrating cloud, AI, IoT, and big data — and an AI smart-community layer co-developed with SenseTime (商汤科技), covering 31 high-sensing scenarios with reported 5-second security alerts, plus an internal AI Brain for energy conservation and CDC-based water-leak detection. Average fee pricing is quote-based and not publicly disclosed. Go-to-market is sales-led with heavy emphasis on third-party project expansion: 93% of newly added contracted area in H1 2023 came from third-party sources, and related-party revenue fell to approximately 1.1% of total revenue in H1 2023.

The company's investment profile is materially shaped by its ownership structure: parent China Evergrande Group (3333.HK) historically held approximately 51% of shares and was ordered liquidated by a Hong Kong court in January 2024 after failing to conclude a restructuring. That ~51.016% stake is now being sold by court-appointed liquidators, with Guangdong Provincial Tourism (a state-owned vehicle) entering exclusive negotiations in April 2026 alongside reported bids from China Overseas Holdings, China Resources Land, and PE firm Trustar Capital. Despite the parent crisis, Evergrande Property Services itself has continued trading, reporting H1 2023 revenue of 6.15 billion CNY (+6.2% YoY) and net profit of 790 million CNY (12.9% net margin), and remains a Top-4 ranked Chinese property service company by comprehensive strength (2023-2025).

Name

Evergrande Property

Legal name

Evergrande Property Services Group Limited

Website

https://evergrandeservice.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Evergrande Property Services (6666.HK) is a China-based property management company managing ~579M sqm across 3,000+ projects in ~300 cities, serving ~3.95 million owners across residential, commercial, industrial, tourism, and public-sector verticals using a Tencent/SenseTime-backed smart community platform.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Nonresidential Property Managers (531312)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Mixed-Use Property Management (BPAJAGAE), Association Maintenance, Vendor & Capital Project Management (BPAJAHAM), Senior & Assisted Living Residential Property Management (BPAJAFAE), Residential Maintenance & Turnover Services (Make-Ready, Inspections) (BPAJAFAM)

Keywords

• Property management services
• Residential property services
• Commercial property management
• Smart community platform
• Industrial park management

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property Management Services: Core property management services including basic services and community增值服务, accounting for approximately 99.3% of total revenue. Revenue from related parties only accounted for about 1.1% of total revenue in H1 2023, demonstrating operational independence.
2. Community Value-Added Services: 包括房产中介、保险经纪、社区团购、家装美居、养老康养等增值服务。2021年上半年社区增值服务收入11.39亿，同比增长83%，其中家居美装收入大增873%。2023年上半年社区团购收入较2022年同期增长约230.8%，到家服务收入增长约96.9%。
3. Non-owner Value-added Services: Pre-project services for developers including planning, design advice, delivery inspection, and consulting services

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Evergrande Property Services provides comprehensive property management services across five core verticals: Hengmei Community residential property management (butler, security, maintenance, cleaning, value-added services); Commercial & Enterprise Services for office buildings and commercial complexes; Industrial Parks management with smart solutions; Tourism & Health services for theme parks, tourist attractions, and elderly care facilities; and Public Services for urban governance and city-level property management. The company also delivers community value-added services (home decoration, group buying, elderly care, insurance) and non-owner value-added services (pre-project consulting for developers).

Product overview

Evergrande Property Services (恒大物业, 6666.HK) is a comprehensive property management conglomerate offering five core service verticals: (1) Hengmei Community — residential property management covering basic services (gold butler, security, engineering, cleaning), supporting facilities (Platinum Clubs, commercial amenities), and value-added services (asset operations, community group-buying, home decoration, household management); (2) Commercial & Enterprise Services — full-cycle management of commercial buildings and office complexes; (3) Industrial Parks — smart management of high-end industrial parks; (4) Tourism & Health — specialized services for theme parks, tourist destinations, and elderly care facilities; and (5) Public Services — urban governance including infrastructure, greening, emergency management, and public venues. The company operates ~3,000 projects across ~300 Chinese cities serving ~4 million homeowners.

Differentiator

Problem solved

Functional benefit

Products and services

• Hengmei Community (恒美社区) Residential Property Management End-to-end residential property management covering basic services (gold butler service, security, engineering maintenance, cleaning, gardening), supporting facilities (Platinum Clubs, commercial amenities), and value-added services (community group-buying, home decoration, housekeeping, asset operations). Targeted at homeowners and residential community residents across China.
• Commercial & Enterprise Services (商企服务) Comprehensive commercial and enterprise space management covering security, environment, equipment maintenance, space asset management, event support, smart platforms, pre-project and leasing services. Targeted at office buildings, shopping malls, and business complexes such as Evergrande Plaza Chengdu, Hefei Evergrande Center, and Chongqing Evergrande Zhongyu Plaza.
• Industrial Parks (产业园区) Smart industrial park management providing customized facility management, environmental management, intelligent security, vehicle management, exhibition hall operations, catering, conference services, event planning, venue leasing, and business consulting for enterprise customers in high-end industrial parks.
• Tourism & Health Industry (旅游健康)

Quantifiable outcome

• AI security alerts within 5 seconds for fire and intrusion detection
• +4 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• SenseTime (商汤科技)coreTechnology or Integration · 1 May 2021AI technology partnership to develop smart community solutions. First AI demonstration community at Dongguan Evergrande Yujingyuan was验收 in June 2021. Developed AI-powered 31 high-sensing scenarios covering personnel access, vehicle management, security, and personalized services with 5-second security alerts capability.
• Fangche Bao (房车宝)minorStrategic or Co-development Partner · 1 May 2021Partnership for property and automotive related services including insurance brokerage and community services

Scale indicators15 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Onewo (formerly China Vanke Service): HKEX-listed (2602.HK) property services company spun off from China Vanke, providing residential property management, asset management, and smart community technology solutions across China—directly comparable to Evergrande Property Services in scale and technology positioning.
• Poly Property Services: HKEX-listed (6049.HK) state-owned property management company affiliated with Poly Group, offering residential, commercial, and public property services with similar geographic reach across China—directly comparable in business model and customer base.
• Times Neighborhood Holdings: HKEX-listed (9928.HK) property management company affiliated with Times China, focused on residential property management and community value-added services in China—comparable in scope and customer base, though smaller in scale.
• China Resources Mixc Lifestyle Services: Hong Kong-listed (1209.HK) property management and commercial operations company, state-owned enterprise backed by China Resources, providing residential and commercial property services with strong portfolio of premium shopping malls—comparable business model and scale to Evergrande Property Services.
• Powerlong Commercial Management Holdings: HKEX-listed (9909.HK) commercial property management and operational services company with a focus on shopping malls and commercial complexes—comparable to Evergrande Property Services' commercial property segment, providing a benchmark for non-residential operations.
• A-Living Smart City Services: HKEX-listed (3319.HK) property management company with significant China Vanke and Country Garden shareholder backing, providing residential, commercial, and value-added community services—directly comparable to Evergrande Property Services in scope and customer segments.
• Greentown Service Group: HKEX-listed (2869.HK) property services company affiliated with Greentown China, offering residential property management, consulting, and value-added services across China—comparable scale and business model to Evergrande Property Services.
• Sunac Service Holdings: HKEX-listed (1516.HK) property management company affiliated with Sunac China, providing residential and commercial property management services across China—direct peer with similar business model and exposure to the broader China property cycle.
• Country Garden Services Holdings: China's largest property management company by area under management, listed on HKEX (6098.HK), offering residential and commercial property services with similar vertical structure including value-added community services and tech-enabled smart community platforms.
• China Overseas Property Management: HKEX-listed (2669.HK) subsidiary of China State Construction, providing residential and commercial property management services across mainland China and Hong Kong with comparable scale and state-owned enterprise backing—reported as a potential bidder for Evergrande Property Services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 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 Evergrande Property