Jinke Service bids farewell to the Hong Kong Stock Exchange

Jinke Service recently concluded its more than five-year listing journey on the Hong Kong Stock Exchange, becoming the fourth property company to delist from Hong Kong stocks.

Jinke Service was once hailed as “Southwest Property’s No. 1 Stock,” with a market capitalization that once exceeded HKD 55 billion, making it a popular property company in the capital market. However, as its parent company Jinke Holdings faced a liquidity crisis, the company’s performance suffered losses, and industry valuation logic changed, Jinke Service’s stock price plummeted. Prior to delisting, Jinke Service’s market value was approximately HKD 5.2 billion, evaporating over 90% from its historical high. Its pre-suspension P/E ratio was less than 6, far below the average 12 times valuation level of property companies in A-shares.