CIFI EverSunshine Services (1995 HK) Positive profit Alert in 1H21, the non-residential business has made a breakthrough August 19, 2021 115

PSR Recommendation: BUY Status: Maintained
Target Price: HKDHKD25.87

Investment Summary
CIFI Ever Sunshine Services announced positive profit alert for 1H21. It is expected that the
company’s unaudited consolidated net profit and net profit attributable to the parent for the
six months ended June 30, 2021 will increase by more than 55% over the same period last
year. The increase in net profit was mainly due to the increase in the GFA under management;
the increase in revenue from community VAS and VAS provided to non-owners, and the
business recovery after the impact of the new crown pneumonia epidemic.
Excellent external expansion, breakthroughs were made in non-residential businesses
The company’s net profit and net profit attributable to the parent in the first half of last year
were RMB 200 million and 170 million, respectively. The company stated that it will increase
by no less than 55% from last year which is estimated to be CNY 310 million and CNY 270
million respectively. During the period, the company successively won the bids for a number
of external projects, and made breakthroughs in the school segment and public property
segment. It won the bids for 9 school property management subjects and public property
management subjects, including projects such as Hunan University of Technology and Hunan
Xiangxi Expressway Service Area.

About the author

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Timothy Chong
Analyst
Research

Timothy Chong received Bachelor’s Degree with first class honor in Banking and Finance from University of Leicester. He is currently studying Master of investment management in Hong Kong Polytechnic University. Before joining Phillip Securities, Timothy worked at BOCOM international and he is equipped with years of experience in the capital market. Timothy is now a licensed research analyst at Phillip Securities and covers Consumer / Property Management sectors.

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