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Monday, 27 July 2020, 22:10 HKT/SGT

Source: Redsun Services Group Limited
Redsun Services Group Limited Announces Positive Profit Alert for 2020 Interim
Expects to increase not less than 50% in the adjusted profit attributable to equity owners of the Company

HONG KONG, July 27, 2020 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group", stock code 1971), a fast-growing comprehensive community services provider focusing on the Yangtze River Delta, today announces the Group is expected to record an increase of not less than 50% in the adjusted profit attributable to equity owners of the Company (which is a non-HKFRS measurement and is calculated by excluding the effect of one-off listing expenses) during the six months ended 30 June 2020 as compared to that of the same period of last year.

Redsun Services recorded a substantial increase for its interim profit is mainly attributable to (i) the increase in the number of the Group's projects under management; and (ii) the increase in income from value-added services to non-property owners and community value-added services.

Despite the challenging business environment under the COVID19 pandemic, Redsun Services still recorded encouraging results, fully demonstrates its solid business foundation and excellent prospects. Shortly after the successful listing of the Group in July, the positive profit alert announced today posted another joy for the Group. In the future, the Group will continue to execute the strategy to "penetrate Jiangsu province, explore the Yangtze River Delta and expand into urban agglomerations", strengthening its leading position in Jiangsu province and expanding into selected key urban agglomerations and leveraging its current position in cities to explore neighborhood areas. It also plans to evaluate suitable acquisition opportunities in the Yangtze River Delta, Southwest China, South China and Central China.

About Redsun Services Group Limited
Established in Nanjing in 2003, Redsun Services Group Limited is a fast-growing comprehensive community service provider focusing on the Yangtze River Delta. With a vision of "making lives warmer," the Group has provided and endeavor to continue to "provide customers with high-quality services with sincerity" to serve its customers. The Group has established the regional leading position in the property management market of Jiangsu province and is well-recognised nationwide. The Group was recognized as one of the Top 100 Property Management Companies by CIA for four consecutive years since 2017 and ranked 25th among the 2020 Top 100 Property Management Companies in terms of overall strength.

July 27, 2020 22:10 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

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