Dexin Services Group Limited

Dexin Services Group Limited is listed on the Hong Kong Stock Exchange (stock code: 2215), and its controlling shareholder is Shengfu International Limited, a private holding vehicle disclosed in the company’s shareholder circulars as holding a majority stake, most recently reported at approximately 56.46 percent of the company’s issued share capital, following an earlier 2025 disclosure that recorded the stake at approximately 57.65 percent before a capital increase transaction approved at an extraordinary general meeting in March 2026. Shengfu International Limited is itself held as to approximately 91.6 percent by Mr. Hu Yiping, who served as the company’s chairman and an executive director until his resignation from both roles effective 28 April 2026.

Based on this disclosed ownership chain, Mr. Hu Yiping’s calculated effective indirect ownership of Dexin Services Group Limited is approximately 51.7 percent (56.46 percent held by Shengfu International Limited, multiplied by the 91.6 percent of Shengfu International Limited held by Mr. Hu), making him the company’s ultimate beneficial owner on the basis of the most recently disclosed percentages. No other individual or entity was identified in the sources reviewed as holding a disclosed interest of 5 percent or more in the company’s shares.

On 5 May 2026, the company announced that the High Court of the British Virgin Islands had adjudged Mr. Hu Yiping personally bankrupt. The company stated that the bankruptcy order was made against Mr. Hu personally, rather than against the company, the group, or any of its assets, and that the board did not expect the order to have a material impact on the group’s financial performance or existing business operations. Trading in the company’s shares was briefly suspended and resumed the following trading day. As of the sources reviewed, no separate disclosure confirms a pledge, transfer or other disposal of Shengfu International Limited’s shares in Dexin Services Group Limited as a result of the bankruptcy order. Dexin China Holdings Company Limited, the property developer from which Dexin Services Group Limited’s business originated, is not disclosed as a direct or indirect shareholder of Dexin Services Group Limited in any source reviewed; the two companies are linked through a common ultimate individual, Mr. Hu Yiping, rather than through a corporate ownership relationship.

Shareholder disclosure for Dexin Services Group Limited should be treated as major shareholders only: Hong Kong’s disclosure regime under the Securities and Futures Ordinance requires public disclosure only of interests reaching statutory thresholds, so a complete register of all shareholders is not publicly available. The percentages above reflect the latest practicable dates stated in the company’s own circulars and announcements and may have changed since those dates.

Dexin Services Group Limited’s board comprised six directors for most of the period reviewed, including three executive directors and three independent non-executive directors, before the resignation of one executive director in April 2026 reduced the executive slate to two. As at the date of this profile, the company’s executive directors are Mr. Tang Junjie, who has served as chairman of the board since 28 April 2026 and as president since 31 December 2020, having first been appointed a director on 22 October 2020, and Ms. Zheng Peng, who serves as an executive director and chief financial officer. The three independent non-executive directors are Dr. Wong Wing Kuen Albert, Mr. Rui Meng and Mr. Yang Xi. Company data reviewed also records a company secretary and a chief human resources officer, but these roles could not be independently verified against a primary Hong Kong Stock Exchange filing in this review.

The most significant recent change is the resignation of Mr. Hu Yiping as chairman of the board and as an executive director, effective 28 April 2026, following which Mr. Tang Junjie, previously an executive director and president, was appointed chairman on the same date. The company stated that Mr. Hu resigned because of other work arrangements, had no disagreement with the board, and would remain as a consultant to the group, continuing to provide general advice on operations and management. This means that any officer data still showing Mr. Hu Yiping as an active executive chairman after 28 April 2026 is outdated. Separately, on 5 May 2026 the company disclosed that Mr. Hu, by then no longer a director, had been personally adjudged bankrupt by the High Court of the British Virgin Islands.

Nationality is not disclosed for any director in the sources reviewed; country of residence is likewise not stated, and any address shown against an officer in company data is a correspondence or service address rather than evidence of nationality or residence. Officer information for Dexin Services Group Limited should be treated as current only, based on the company’s most recent Hong Kong Stock Exchange announcements; historical appointment records beyond those described here were not independently verified in this review.

Dexin Services Group Limited is an investment holding company incorporated in the Cayman Islands, and no direct or indirect corporate parent has been identified for it in the sources reviewed. Its controlling shareholder, Shengfu International Limited, is a private holding vehicle rather than an operating company with a separate group of its own. The company’s own subsidiaries are principally engaged in property management and related value-added services in mainland China, based mainly in Hangzhou and other cities in Zhejiang province.

Verified subsidiaries identified in the sources reviewed include Dexin Shengquan Property Services Co., Ltd. and Shanghai Xuquan Trading Co., Ltd., both described in the company’s own announcements as indirect wholly-owned subsidiaries of Dexin Services Group Limited. On 31 July 2025, these two subsidiaries entered into an equity transfer agreement to acquire 95 percent and 5 percent respectively of the equity of Deqing Moganshan Ruijing Real Estate Co., Ltd. from Deqing Changzhuo Enterprise Management Co., Ltd., for a combined consideration of approximately RMB78 million; this acquisition completed on 18 March 2026.

Dexin China Holdings Company Limited, the Zhejiang residential property developer from whose property management operations Dexin Services Group Limited’s business originated before its 2021 listing, is not disclosed as a parent, subsidiary or other verified corporate group member of Dexin Services Group Limited in any source reviewed. The company has described Dexin China Holdings Company Limited only as a connected entity. The two companies’ confirmed link is a shared ultimate individual, Mr. Hu Yiping, who controlled Dexin Services Group Limited indirectly through Shengfu International Limited and separately held a substantial stake in Dexin China Holdings Company Limited, rather than any direct or indirect shareholding by one company in the other. Dexin China Holdings Company Limited was placed into liquidation by the High Court of Hong Kong on 11 June 2024, and its own Hong Kong listing (stock code 2019) was cancelled with effect from 7 January 2026. Dexin Services Group Limited stated it was assessing the impact of that liquidation on its own business; this is a relevant counterparty and reputational consideration given the historical business relationship, but it does not, on the evidence reviewed, reflect any change to a verified corporate ownership relationship, since none was established between the two companies in the first place.

Corporate-linkage information for Dexin Services Group Limited should be treated as partial: individual subsidiary transactions are disclosed as they occur through Hong Kong Stock Exchange announcements, but a complete, dated organisational chart listing every subsidiary and its ownership percentage was not identified in the sources reviewed.