Core Insights - The property service industry in China is experiencing significant growth, with the top 50 companies expanding their contract areas substantially in May 2025, totaling approximately 54.14 million square meters [1] - Leading companies such as China Resources Vientiane Life and Shanghai Yongsheng Property Management are rapidly increasing their contract areas, with additions exceeding 3.5 million square meters [1] Group 1: Market Expansion - In May 2025, the top 50 property service companies added a total of approximately 54.14 million square meters in contract area, with an average of 1.08 million square meters per company [1] - The top three companies in terms of new contract area are Shanghai Yongsheng Property Management (610,000 square meters), Jiangsu Galaxy Property Management (388,000 square meters), and China Merchants Jiyu Industrial Operation Service (373,000 square meters) [2] - The average new contract area for the top 10 companies is 1.08 million square meters, indicating a strong competitive landscape [1][8] Group 2: Third-Party Market Development - The total third-party market expansion area for the top 50 property service companies in May 2025 reached 39.91 million square meters, with an average of 800,000 square meters per company [8] - The top two companies in third-party market expansion are Shanghai Yongsheng Property Management (579,000 square meters) and Jiangsu Galaxy Property Management (388,000 square meters) [8] - The average third-party market expansion area for the top 10 companies is 2.28 million square meters, while the average for companies ranked 11 to 30 is 640,000 square meters [8] Group 3: Associated Area Management - In May 2025, the top 50 companies managed a total of approximately 16.96 million square meters of associated area, with an average of 340,000 square meters per company [1] - The top company in terms of associated area management is China Resources Vientiane Life, with 469,000 square meters, followed by Poly Property Service (121,000 square meters) and Wanwu Cloud Space Technology Service (106,000 square meters) [10] - The ongoing "guarantee delivery" efforts in China are positively impacting the conversion of sales area into contract area for property service companies [9]