Core Viewpoint - China Guoxin Service Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange, aiming to expand its property management services in Guangdong and Hunan provinces through acquisitions [2]. Industry Overview - The property management service market in China is experiencing strong growth due to increasing urbanization and rising disposable income, with the market size projected to grow from RMB 1,053.4 billion in 2019 to RMB 1,822.1 billion by 2024, reflecting a compound annual growth rate (CAGR) of 11.6% [6]. - The market is expected to further increase to RMB 2,635.5 billion from 2024 to 2029, with a CAGR of 7.7% [6]. Market Size and Growth - The total market size of the property management service industry, measured by managed area, is projected to grow from 30.2 billion square meters in 2019 to 40.7 billion square meters by 2024, with a CAGR of 6.1% [3]. - By 2029, the managed area is expected to reach 46.7 billion square meters, with a CAGR of 2.8% from 2024 to 2029 [3]. Regional Insights - The Greater Bay Area is experiencing even faster growth, with the market size projected to increase from RMB 180.7 billion in 2019 to RMB 455.6 billion by 2024, reflecting a CAGR of 20.3% [7]. - The market is expected to reach RMB 835.0 billion from 2024 to 2029, with a CAGR of 12.9% [7]. - In Hunan Province, the property management service market is projected to grow from RMB 32.2 billion in 2019 to RMB 59.2 billion by 2024, with a CAGR of 13.0% [8][10]. Service Composition - Property management services include standardized services such as security, cleaning, gardening, maintenance, and customer service, as well as non-standardized value-added services like planning and consulting [2]. - Residential properties account for a significant portion of the overall managed area, expected to reach 29.9 billion square meters by 2024 [3].