Poly Property Development : SUPPLEMENTAL ANNOUNCEMENT TO THE 2019 ANNUAL REPORT
August 21, 2020 at 04:50 am EDT
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POLY PROPERTY SERVICES CO., LTD.
保 利 物 業 服 務 股 份 有 限 公 司
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 06049)
SUPPLEMENTAL ANNOUNCEMENT TO THE 2019 ANNUAL REPORT
Reference is made to the 2019 annual report for the year ended 31 December 2019 published by Poly Property Services Co., Ltd. (the "Company") on 22 April 2020 (the "2019 Annual Report"). Unless otherwise stated, capitalized terms used in this announcement shall have the same meanings as those defined in the 2019 Annual Report.
Reference is made to the disclosure regarding net proceeds from the Listing in the section headed "Management Discussion and Analysis - Proceeds of the Listing" in the 2019 Annual Report. The Company would like to supplement the following information regarding the expected timetable for the usage of the unutilised net proceeds.
Details of the planned use and actual use of the net proceeds from the Listing Date to 31 December 2019 are as follows:
Net proceeds
Net proceeds
Expected timetable
actually
unutilised
for the usage of
Planned use of the
Net
utilised as of
as of
the unutilised net
net proceeds as stated
Percentage of
proceeds for
31 December
31 December
proceeds as of
in the Prospectus
net proceeds
planned use
2019
2019
31 December 2019
(HK$ in
(HK$ in
(HK$ in
millions)
millions)
millions)
To pursue selective strategic
57%
2,578.4
0
2,578.4
On or before
investment and acquisition
31 December 2022
opportunities and to further
develop strategic alliances
and expand the scale of
the Group's property
management business
To further develop the Group's
15%
678.5
0
678.5
On or before
value-added services
31 December 2022
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Net proceeds
Net proceeds
Expected timetable
Planned use of the
Net
actually
unutilised
for the usage of
utilised as of
as of
the unutilised net
net proceeds as stated
Percentage of
proceeds for
31 December
31 December
proceeds as of
in the Prospectus
net proceeds
planned use
2019
2019
31 December 2019
(HK$ in
(HK$ in
(HK$ in
millions)
millions)
millions)
To upgrade the Group's systems
18%
814.2
0
814.2
On or before
for digitisation and smart
31 December 2022
management
Working capital and general
10%
452.4
0
452.4
N/A
corporate purpose
Total
100%
4,523.5
0
4,523.5
Since the Company exercised the over-allotment option in full and issued 20,000,000 H Shares on 17 January 2020, the net proceeds from the Listing increased from HK$4,523.5 million to HK$5,218.2 million, which will be allocated and used in accordance with the above purposes and proportions on or before 31 December 2022.
The supplementary information contained in this announcement does not affect other information contained in the 2019 Annual Report. Save as disclosed above, all other information in the 2019 Annual Report remains unchanged.
By Order of the Board
POLY PROPERTY SERVICES CO., LTD.
Huang Hai
Chairman of the Board and non-executive Director
Guangzhou, PRC, 21 August 2020
As at the date of this announcement, the non-executive directors of the Company are Mr. Huang Hai and Mr. Hu Zaixin; the executive directors of the Company are Mr. Li Jiahe and Ms. Wu Lanyu; and the independent non-executive directors of the Company are Mr. Wang Xiaojun, Ms. Tan Yan and Mr. Wang Peng.
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Poly Property Development Co. Ltd. published this content on 21 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2020 08:50:05 UTC
Poly Property Services Co Ltd, formerly Poly Property Development Co Ltd, is a China-based company mainly engaged in provision of property management service, community value-added services and value-added services to non-property owners. The Company's property management services are engaged in providing property management services to property owners, residents and property developers, including security, cleaning, greening, gardening and repair and maintenance. Value-added services to non-property owners engaged in the provision of services to non-property owners, including pre-delivery and other services, such as consultancy, inspection, delivery and commercial operation. Community value-added services include community living services, such as purchase assistance, turnkey furnishing and move-in services, housekeeping and other bespoken services, parking lot management services and common area value-added services. The Company conducts its businesses within the China market.
POLY PROPERTY SERVICES CO., LTD. 
