Will the China Property Management Stock Recover in 2023?

China Sector Share Price Performance in 2022

2023 outlook will be righter because of soothing property,Covid beta,(after 2-years roller-coaster ride).

1.most have changed in a good way for long term,For example ,rapid move into independence, non-resi, decline of excessive profitability);

even the headwinds (less new-home GFA, slower VAS) are useful to distinguish consolidators;

2.intact biz nature: asset-light with contract-based recurring income;

3.top-down, positive externalities like social stability, pro-employment, protect asset value means stable sector-specific governance, and rides on property policy turnaround in 2023;

4.organic growth likely is achievable on brand recognition, service ability and internal strength.we

1.Consistent solid OCF to protect.DCF of profit;Account Receiveble quality;Net cash

2.Growing service radius to drive upside.New contract growth;T1/2 City% of GFA mix;Third party growth

3.Differentiation defines competitiveness and backs valuation of a company. platform,Mall,B/G service businiss,Tech.

4.Related party expoduse,revenue mix. A/R%,GFA%.