(11 May 2020, Hong Kong) Aoyuan Healthy Life Group Company Limited (“Aoyuan Healthy” or the “Group”; SEHK stock code: 3662), a reputable property management service and commercial property operation service provider in the People’s Republic of China (“PRC”), is pleased to announce that the Group’s indirect wholly-owned subsidiary, Guangzhou Aoyuan Property Services Company Limited, has agreed to acquire a 65% equity interest in Ningbo Hongjian Property Services Company Limited (“Ningbo Hongjian”) for a consideration of RMB37 million. Upon completion of the acquisition, the financial results of Ningbo Hongjian will be incorporated into Aoyuan Healthy’s consolidated financial statements. 

  Ningbo Hongjian has obtained the Level One Qualification Certificate for Property Management Enterprise in the PRC and is also a member of China Property Management Institute and Ningbo Property Management Institute. It principally engages in the provision of property management services to both residential and commercial properties in Ningbo City, Zhejiang Province. Ningbo Hongjian currently manages 34 projects with a total contracted gross floor area (“GFA”) of approximately 2.413 million square meters (“sq.m.”).

  The management of Aoyuan Healthy said, “Aoyuan Healthy has been proactively seeking opportunities for investment as it pursues its business development strategy. The acquisition will further expand the Group’s property management portfolio in eastern China and create synergy with its existing property management businesses. Meanwhile, the purchase will also enhance the competitiveness and broaden the revenue source of the Group’s core business, thereby strengthening its position as an industry leader and helping it to generate encouraging returns to shareholders.”

  Previously, the Group announced on 22 April 2020 a proposal to acquire an 80% interest in Easy Life Smart Community Services Group Co., Ltd. for approximately RMB248 million. The acquisition target is managing 208 property management projects in places such as Beijing, Hebei, Henan, Tianjin, Chongqing, and Sichuan, with a total GFA of approximately 22.63 million sq.m. under its management.