Community O2O Real Estate overturned

Recently, the community platform service provider Color Life (01778.HK) surged to 13.93% with a market cap of HK $ 5.56 billion, surpassing its parent company, Fantasia Holdings (01777.HK). At this moment, Color Life was listed in Hong Kong for only three days.

A community-based platform service provider born of traditional property management easily subverted the annual production of more than 10 million square meters of land by asset-light model, even in the eyes of Pan Jun, president of Fantasia Group. Things.

It is no coincidence that the asset-light community service platform is favored by the capital market. In this area of ​​the community, multi-capital has been assembled, including giants such as Ali, Tencent, Vanke and SF Express, have all laid their groundwork in community service.

"I originally expected color life stock to be able to get six bucks by the end of the year." On July 3, Pan Jun told reporters in an interview with 21st Century Business Herald that he did not expect investors to be so enthusiastic.

As of the close of July 3, the market capitalization of color life was HK $ 5.56 billion, while that of Fantasia Holdings was only HK $ 5.24 billion. The color life revenue in 2013 was 233 million yuan, and the annual revenue was over 72 billion yuan.

Comparing the tricks of the real estate business and color life platform business, Pan Jun emotion, color life was founded twelve years, there is no assets on the account, office buildings are rented. In the hands of only cash, only the management mode and the team, the typical light asset model; market value is higher than the plot year hard 15 years, raising thousands of employees, hoarding more than 10 million square meters of land, but also store hundreds Billion property, hotel, shopping malls heavy asset model.

"Why investors do not give real estate high valuations, they think you are heavy assets unsustainable, the model wrong." Pan Jun said the real estate model must be changed.

Why a traditional property management house will become the most popular capital market companies? This has benefited from the complete transformation of the model of color life through the MFA year, turning it into a community electricity supplier, namely "a bounded electricity supplier." Its profit model is no longer traditional property management fees, but community value-added services and community finance.

In Pan Jun's view, this is a profitable cross-border plucking model. Choi Life charges property owners a very low fee but feeds back through community value-added services such as online and offline integration of resources, Such as easy maintenance, Choi Yun APP and so on.

"Now APP has registered 500,000, active users is more than 200,000, the end of 100000 to be done," Pan Jun said, "Now the value-added services only 10% of the color life profit sources, but in the future it will account for 90%. "

Pan Jun is the largest trader in the market of color life. Over the past two years, he persuaded and attracted corporate investors, including 360, SouFun and E-House, to subscribe to the colorful life through continuous road shows. Why many Internet giants are willing to Invest in color life because it contains a wide range of Internet elements: free, traffic, ecommerce, O2O, smart home, etc., but the underlying platform is the community.

Recently, Tencent invested more than 7 billion yuan investment public comment and 58 city, Shun Feng Hey rapid distribution community stores, Ali together with Evergrande, Baidu and Vanke, etc., all without exception, in the community service.

Founder Securities Research Institute Chang Changxin believes that the community O2O services through the mobile Internet to promote and popularize, integrate offline resources to provide users with one-stop service and to tap the value of the user, the smart community service to subvert the traditional real estate services, is the general trend of real estate development .

Pan Jun said Cai Life has established its own moat in such a field. This year and for some time to come, it will continue to develop into a large-scale area. By 2020, the total area under management will reach 1 billion square meters.

According to Pan Jun's estimation, by 2020, the nation's residential property area will reach 30 billion square meters, and the consumption of community service will exceed one trillion yuan, that is, China's ultra-trillion domestic demand market. The localized community O2O will be the main battlefield.