Saturday, 2023 September 23

JD and invest in property management company Colour Life

China’s and online security software company have each signed an agreement to buy newly issued shares of Shenzhen-based Colour Life Service Group, which manages properties in 268 cities across China.

Volga Innovation Limited, an indirect wholly owned subsidiary of, will buy 71.1 million new shares of Colour Life at HKD 5.22 (USD 0.67) per share, said Colour Life in its filing with the Hong Kong Stock Exchange on Friday.

Qifei International Development Co, an indirect wholly owned subsidiary of online security software vendor, will subscribe nearly 23 million new shares.

When both transactions are completed, JD’s equity interests in the company will be raised from zero to 5%, while’s interests will grow from 1.54% to 3.05%.

JD’s investment will foster greater cooperation in commerce, logistics, finance and technology businesses between the two firms, according to the company’s filing.

Colour Life’s transaction with will allow both parties to collaborate on technologies such as core security capacity, big data, IoT and artificial intelligence to the community security segment. The filing says that  this will help to “effectively enhance the brand recognition and influence of in urban and community security.” has started to cooperate with Colour Life as early as 2015, the latter’s website shows.

Colour Life’s chairman said in the company’s 2018 annual report that that year was an awakening for the entire property management sector as both capital and internet companies have turned their eyes to this traditional business.

“First of all, it awakened the capital of the industry. We can see after Colour Life was listed in 2014, a total of over 10 property management enterprises were listed in 2018,” said the chairman, adding that after the “capital awakening”, the industry underwent a “value awakening” which led to innovation and business diversification besides their traditional property management business.

“Asset management, appraisal and planning, sales agency, community-based elderly services, community-based new retail and other value creation concepts among others were introduced, which kept on breaking the boundaries of the traditional property management industry value and ushered in various imaginable opportunities for the industry,” he said, and noted that almost all major internet-based platforms have explored cooperation opportunities with traditional industries, including the property management industry.

Colour Life made a revenue of RMB 3.6 billion (USD 523.3 million) in 2018, up 74.5% year-on-year, which brought in RMB 485 million as net profit, up 35.1% year-on-year.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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