Onewo Space-Tech Service Co.

What Onewo Space-Tech Service Co. does

Onewo Space-Tech Service Co. is a China-based, Hong Kong-listed (2602.HK) space management and technology services provider that originated from Vanke Group's property services segment, which began operating in 1990. Operating across three business modules (Space, Tech, and Grow), Onewo manages residential property services through the Vanke Service brand (ranked #1 in China for ten consecutive years; 2,823 properties and 660.4 million sq.m. of GFA across 120+ cities as of December 31, 2021), commercial property services through the Cushman & Wakefield Vanke Service joint venture (1,565 projects and 125 million sq.m. of commercial GFA), and urban space governance services through the City Up brand (22 cities, 47 projects). The company is publicly listed since 2022 and serves a diversified customer base spanning residents (10 million+), commercial enterprises, and government entities.

The technology backbone comprises proprietary AIoT and Digital Twin capabilities delivered via the Wanyun Stardust Spatial Digital Twin PaaS Platform (developed by subsidiary Vanrui IntelliTech), edge-deployed computer vision algorithms (seven production use cases including garbage overflow detection, illegal parking, elevator intrusion, and fire passage monitoring), the Zhuzher customer app (Version 5.0 with 95% active user migration, repositioned from tool to integrated platform), and the 'Lingshi+' AI energy management system. The computer vision capability received a bronze medal in the CVPR 2022 Image Matching Challenge, representing the first international computer vision recognition for a Chinese real estate services company. Complementary subsidiaries include Xiangying Enterprise Service (HR/BPO outsourcing with 7,000+ employees across 56 cities serving 1,000+ enterprise clients), Pulin brokerage (600+ stores in 50 cities), Onewo Yanxuan (home renovation), Wanyu Security Service, and the Onewo Growth investment platform.

Revenue is generated through a mix of recurring subscription-style property management fees across residential and commercial portfolios, managed services contracts for urban governance projects, professional services fees from enterprise outsourcing, and transaction-based fees from brokerage. Distribution relies on 18 city offices across China with localized service teams, an enterprise field sales force targeting governments and commercial clients, and channel partnerships (most notably the Cushman & Wakefield JV). As of 2018, Onewo was the first Chinese property service firm to surpass RMB 10 billion in annual sales; specific current revenue figures are not disclosed in available materials.

Name

Onewo Space-Tech Service Co.

Legal name

Onewo Space-Tech Service Co., Ltd.

Website

https://en.onewo.com

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

10,001+ employees

Short description

Onewo Space-Tech Service Co. provides AIoT-enabled space management services across residential, commercial, and urban segments in China, operating sub-brands including Vanke Service, Cushman & Wakefield Vanke Service, and City Up, serving over 120 cities.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Services to Buildings and Dwellings (5617), Facilities Support Services (5612), Facilities Support Services (56121), Other Services to Buildings and Dwellings (56179), Computer Systems Design and Related Services (5415), Computer Systems Design and Related Services (54151)

SIC

Services-Facilities Support Management Services (8744), Services-To Dwellings & Other Buildings (7340), Services-Computer Integrated Systems Design (7373), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro industry

PRIMARYBPABAAAG

Space & Occupancy (MAC, Space Planning, Move Management)

Business & Public Services/Facilities Management & Building Services/Integrated Facilities Management (IFM)

SECONDARYIMAIALAF

Space & Occupancy Services (Move/Add/Change, Seating, Wayfinding)

Industrials, Manufacturing & Construction/Industrial Services & Facility Operations/Facility Operations Support Services (Mailroom/Reception/Catering/Workplace Services)

SECONDARYHDAEAIAF

Service Mesh & Microservices Integration

Hardware, Technology & Telecom/Enterprise Platforms & Databases/Application Integration & iPaaS (API Management, ESB)

SECONDARYBPAEAMAC

Cloud Operations Outsourcing (Cloud Managed Operations)

Business & Public Services/IT & Digital Services (Managed Services, Systems Integration)/IT Outsourcing & Offshoring Services

Keywords

• Property management services
• Facility management solutions
• Smart space technology
• Urban space operations
• Enterprise outsourcing services

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices23 records

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. Residential Property Services: Property management services for residential communities including community space services, owners committee services, cultural activities, housing preservation, and HSQ premium services. Revenue generated through property management fees.
2. Commercial Property Services (Cushman & Wakefield Vanke Service): Commercial enterprise property services including facility management, integrated facilities management, property asset management, and premium services. First commercial real estate service company in China with both Chinese and foreign genes.
3. Urban Space Integrated Services (City Up): Urban governance and city operations services including streets/built-up areas management, new area services, and transportation/parks/river management. Provides full-cycle management from planning through operation.
4. Enterprise Outsourcing Services (Xiangying): Human resources outsourcing, business process outsourcing (BPO), asset management systems (AMS), and recruitment process outsourcing for enterprise clients requiring large-scale blue-collar workforce management.
5. Home Sale and Rental Brokerage Services (Pulin): Real estate brokerage services for second-hand housing rental/sale, new housing purchase, and housing custody management. Operates through network of over 600 stores in 50 cities.
6. Home Redecoration and Furnishing Services (Onewo Yanxuan): Residential refurbishment services including kitchen/bathroom remodeling and complete home renovation for community residents.
7. Supply Chain Services: Intensive procurement services including online procurement, sourcing services, and customized procurement solutions for materials, engineering, and services across 34 territorial teams nationwide.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Onewo Space-Tech Service Co. provides integrated property management, facility management, and urban space operations services across residential, commercial, and government segments in China, delivered through a multi-brand portfolio (Vanke Service, Cushman & Wakefield Vanke Service, City Up, Xiangying, Pulin, Onewo Yanxuan, Wanyu Security Service). The offering combines on-site territorial services with proprietary technology platforms — including the Wanyun Stardust Spatial Digital Twin PaaS, computer vision systems, and the Zhuzher resident app — to manage over 660 million sq.m. of residential GFA, 125 million sq.m. of commercial GFA, and 47 urban space projects. Adjacent lines include enterprise HR/BPO outsourcing, real estate brokerage, home renovation, and centralized procurement.

Product overview

Onewo Space-Tech Service Co. operates as a comprehensive space management and technology services provider with a multi-brand portfolio. The company is organized around three business modules (Space, Tech, and Grow) and offers services across residential property (Vanke Service), commercial property (Cushman & Wakefield Vanke Service), urban space operations (City Up), smart community/smart city solutions (Vanrui IntelliTech), home services (Onewo Inhome, Pulin, Onewo Yanxuan), enterprise services (Xiangying Enterprise Service), and security/electromechanical services (Wanyu Security Service). The portfolio is anchored by technology platforms including the Zhuzher App for residential services, Wanyun Stardust Spatial Digital Twin PaaS for AIoT and digital twin capabilities, and various operational platforms. The company also maintains strategic investment and incubation platforms (Onewo Growth, Yuying Platform).

Differentiator

Problem solved

Functional benefit

Brands

• Vanke Service (万科物业): The preferred property steward for Chinese urban residents, ranked first in China's property management for ten consecutive years
• Cushman & Wakefield Vanke Service (万物梁行)
• City Up (万物云城)
• Vanrui IntelliTech (万睿科技)
• The Fifth Space (第五空间)
• Yuying Platform (誉鹰平台)
• Xiangying Enterprise Service (祥盈企服)
• Onewo Growth (万物成长)
• Onewo In-home (万物为家)
• Pulin (朴邻)
• Onewo Yanxuan (万物研选)
• Wanyu Security Service (万御安防)
• Zhuzher App (住哲)

Products and services

• Residential Property Services (Vanke Service)
• Commercial Property Services (Cushman & Wakefield Vanke Service)
• Urban Space Integrated Services (City Up)
• Enterprise Outsourcing Services (Xiangying)
• Home Sale and Rental Brokerage (Pulin)
• Home Redecoration and Furnishing (Onewo Yanxuan)
• Supply Chain Services (Intensive Procurement)
• Wanyu Security Service
• Smart Community Solution
• Smart City Solution
• Smart Construction Site Solution
• Wanyun Stardust Spatial Digital Twin PaaS
• Zhuzher App

Quantifiable outcome

• Reduced mechanization rate of municipal management from 40% to 75% in Hengqin
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and major.

• United Nations Global Compact (UNGC)coreOthers · 26 June 2025Onewo became a participant of UNGC, committing to support ten principles in human rights, labor, environment, and anti-corruption. Joins over 25,000 companies from more than 160 countries.
• Siming City CapitalmajorStrategic or Co-development Partner · 11 May 2021State-owned company partnership to offer digital asset management of public houses, historical buildings protection, and city-level property management on Gulangyu, a UNESCO World Cultural Heritage Site.
• Hubei United Development Investment Group Co., Ltd.coreStrategic or Co-development Partner · 19 January 2021Strategic cooperation agreement signed to lay out Hubei's provincial urban space operation. Represents expansion of urban services into provincial-level governance.
• China Xiong'an Group Urban Development InvestmentmajorStrategic or Co-development Partner · 9 September 2020Joint venture Hebei Xiong'an Urban Investment founded to provide full life circle property service along with the construction of Xiong'an New Area, a major national development project.
• Cushman & WakefieldcoreStrategic or Co-development Partner · 7 January 2020Joint venture established January 7, 2020 between Onewo and Cushman & Wakefield to form Cushman & Wakefield Vanke Service. First commercial real estate service company in China with both Chinese and foreign genes. Currently the business enterprise service in China with the highest income, surpassed top five international real estate consulting companies.
• Zhuhai Da Hengqin Investment Co., Ltd.coreStrategic or Co-development Partner · 28 May 2018State-owned enterprise collaboration to launch China's first city-level property management project in Hengqin. Pioneer of 'Property City' mode.

Scale indicators13 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• A-Living Smart City Services: Top-tier Chinese property manager spun off from Agile Group, overlapping with Onewo in residential PM scale, commercial facilities management, and a 'technology-enabled' brand narrative aimed at premium and enterprise clients.
• Country Garden Services: One of China's largest residential property managers (originally Country Garden developer affiliate); comparable to Onewo in GFA scale, third-party expansion strategy, and developer-spin-off lineage, though exposed to its own parent-developer distress.
• Greentown Service Group: Major Chinese property management and lifestyle services company (Greentown developer spin-off), directly comparable across residential PM, commercial/IFM, and community value-added services portfolios.
• Sunac Services Holdings: Property management arm of Sunac China, comparable to Onewo in residential PM scale and developer-affiliated origin, with a similar mix of community value-added services alongside base management fees.
• Longfor Foreseen (Longfor Smart Living): Property management arm of Longfor Group with both residential PM and commercial/IFM businesses, comparable to Onewo's two-wing (residential + commercial) structure and developer-affiliated customer base.
• Times China Holdings (Times Neighborhood): Property management arm of Times China, comparable to Onewo's residential PM scale, Guangdong-rooted origin, and broader community value-added service push via technology platforms.
• China Resources Mixc Lifestyle Services: A leading Chinese property management and commercial asset operator under China Resources Land, directly comparable to Onewo's Vanke Service and Cushman & Wakefield Vanke Service in residential/commercial IFM scale, premium positioning, and asset-light recurring revenue model.
• Yuexiu Property Services: Property management arm of Yuexiu Group (a major Guangzhou-based SOE developer), directly comparable in residential PM scale, commercial/IFM offerings, and urban services pursuits through a state-owned parentage.

Emerging players

• KE Holdings (Beike / Lianjia): China's largest real-estate brokerage platform; comparable to Onewo's Pulin brokerage sub-brand (600+ stores, 50 cities) and represents the dominant competitive benchmark for Onewo's home-sale/rental brokerage line of business.

Broad incumbents

• Cushman & Wakefield: Global commercial real-estate services firm and Onewo's JV partner in Cushman & Wakefield Vanke Service; comparable as a broad incumbent in commercial PM/IFM/asset management that Onewo's commercial segment competes and partners with globally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries11 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 Onewo Space-Tech Service Co.