Sunac Services Holdings Limited

Sunac Services Holdings Limited discloses its shareholder base through the substantial-shareholder notification regime under Part XV of Hong Kong’s Securities and Futures Ordinance (SFO), which requires disclosure once an interest reaches 5% of issued shares. This is a major-shareholders-only level of disclosure typical of a Hong Kong Main Board-listed company, rather than a complete shareholder register.

As at 31 December 2024, the date of the company’s most recently published substantial-shareholder table, three related interests were disclosed against a total of 3,056,844,000 shares in issue: Sunac China Holdings Limited (HKEX: 01918), recorded as interested via controlled corporations in 1,511,153,516 shares (approximately 49.44%); Sunac Services Investment Limited, a wholly-owned subsidiary of Sunac China Holdings Limited, as beneficial owner of 1,090,644,516 shares (approximately 35.68%); and Sunac Shine, also wholly owned by Sunac China Holdings Limited and acting as trustee of the Sunac Services Share Award Scheme Trust (adopted 11 June 2021), holding 420,509,000 shares (approximately 13.76%). By virtue of the SFO, Sunac China Holdings Limited is deemed interested in the shares held by both of these subsidiaries, so all three disclosed interests are aspects of a single, related shareholding rather than independent stakes.

No natural-person ultimate beneficial owner is identified for Sunac Services Holdings Limited from the available disclosures. Sunac China Holdings Limited’s own shareholding structure is not verified to a date consistent with the 31 December 2024 snapshot above, so no calculated effective indirect ownership percentage is presented for any individual behind Sunac China Holdings Limited.

The shareholder record on file for this profile separately lists a different set of small, EUR-denominated institutional holdings, including sub-1% and low single-digit percentage positions in funds such as Vanguard Total International Stock Index Fund and an Avantis emerging-markets ETF, priced at roughly EUR 0.17-0.18 per share. These do not correspond to Sunac Services Holdings Limited, which is a HKD-denominated Hong Kong listing with no reported EUR-denominated share class; this appears to be a data-quality issue in the source feed rather than a genuine shareholding in this company, and has not been relied upon here.

Availability of shareholder information for Sunac Services Holdings Limited is best described as major shareholders only: Hong Kong’s SFO disclosure regime publishes only interests at or above the 5% notification threshold, so smaller institutional and retail holdings are not individually disclosed.

Sources: Sunac Services Holdings Limited, Annual Report 2024, “Report of the Directors – Interests of Substantial Shareholders”, filed with the Stock Exchange of Hong Kong 30 April 2025 (hkexnews.hk, retrieved 10 September 2026).

Sunac Services Holdings Limited’s board, as disclosed in its Annual Report 2024 (published 30 April 2025) and its 2025 annual general meeting circular, comprised eight directors: Mr. Wang Mengde, chairman and non-executive director since August 2020; Ms. Cao Hongling, executive director and chief executive officer, a director since January 2019; Ms. Yang Man, executive director and chief financial officer since August 2020, additionally senior vice president of the group since February 2024; Mr. Lu Peng, non-executive director since November 2021; Mr. Gao Xi, non-executive director since August 2020, who also serves as chief financial officer and company secretary of the controlling shareholder, Sunac China Holdings Limited; and three independent non-executive directors appointed in October 2020, Ms. Wang Lihong, Mr. Yao Ning and Mr. Zhao Zhonghua. Mr. Zhang Xiaoming serves as company secretary. Senior management named in the same report, but not on the board, includes Mr. Huang Xiaoou and Mr. Lyu Xiaochang, both vice presidents of the group. All persons named above were shown as active in that filing, with no resignations disclosed since the prior interim report for the six months ended 30 June 2024.

Nationality is not disclosed for any of the directors or senior managers named in the company’s filings; only educational background, career history and, for some individuals, other listed-company directorships are given. No inference of nationality has been drawn from any individual’s name, employer history or the location of Sunac Services Holdings Limited’s offices.

The officer record on file for this profile names five individuals. Three of them – Ms. Cao Hongling (CEO and executive director), Ms. Yang Man (CFO and executive director) and Mr. Zhang Xiaoming (company secretary) – correspond to the roles confirmed in the 2024 Annual Report, though the on-file record adds internal titles (for example, “GM of Internal Control Audit Center” for Mr. Zhang) not found in that report. Two others on file – a “Hong Ping Chang” described as assistant to the president and CIO, and a “Mingyuan Li” described as chief science and technology strategy advisor – do not appear among the directors or named senior management in the 2024 Annual Report; they may hold other management roles within the wider group that were not independently verified for this profile, and are not asserted as current officers of Sunac Services Holdings Limited here.

Officer information for Sunac Services Holdings Limited is best described as current only, as at 30 April 2025: Hong Kong-listed issuers disclose directors and company secretary in annual reports and periodic filings rather than through a continuously updated public register, and no more recent board changes have been independently verified for this profile.

Sources: Sunac Services Holdings Limited, Annual Report 2024, “Corporate Information” and “Biographies of Directors and Senior Management”, filed with the Stock Exchange of Hong Kong 30 April 2025 (hkexnews.hk, retrieved 10 September 2026); Sunac Services Holdings Limited, Circular – Proposals for Re-election of Retiring Directors and Notice of Annual General Meeting, dated 30 April 2025 (hkexnews.hk, retrieved 10 September 2026).

Sunac Services Holdings Limited is not an independent company. Its largest disclosed shareholder is Sunac China Holdings Limited (HKEX: 01918), a Cayman Islands-incorporated residential property developer, which as at 31 December 2024 was deemed interested in an aggregate of approximately 49.44% of Sunac Services Holdings Limited’s issued shares, held through two wholly-owned subsidiaries: Sunac Services Investment Limited (35.68%, direct beneficial owner) and Sunac Shine (13.76%, held as trustee of an employee share award scheme). No single holder controls a majority of the issued shares, so Sunac China Holdings Limited is best described as the company’s largest identified shareholder and effective controlling shareholder for Hong Kong Listing Rules purposes, rather than as a majority owner.

Sunac Services Holdings Limited is itself the holding company of an operating group. Its Annual Report 2024 discloses, as directly held subsidiaries, five wholly-owned British Virgin Islands investment-holding companies (Rising Excellent, Rising Far, Rising Flourish, Rising Cosmos and Rising Luck (BVI) Investment Limited). These in turn hold, indirectly, a further layer of wholly or majority-owned operating subsidiaries incorporated in the Cayman Islands, Hong Kong and mainland China, including Sunac Property Services Group Co., Ltd. and Tianjin Rongjia Property Service Ltd. (property management, Tianjin), Chongqing Sunac Property Management Limited, Guangxi Zhangtai Property Services Group Co., Ltd. (80% owned), Chengdu Huanrong Property Services Co., Ltd. (70% owned) and Chengdu Global Century Property Services Co., Ltd. (66.5% owned), among others, providing property management, commercial operational and related consultancy services across multiple Chinese cities.

Sunac China Holdings Limited, the group’s largest shareholder, has separately been implementing an offshore debt restructuring since 2022 and, per its own filings, its auditor issued a disclaimer of opinion on its consolidated financial statements for the years ended 31 December 2024 and 31 December 2025 owing to going-concern uncertainty; in a quarterly update dated 31 March 2026, Sunac China Holdings Limited reported that it continued to implement an action plan addressing that qualification. This status relates to Sunac China Holdings Limited’s own property-development business and has not been found to extend to Sunac Services Holdings Limited’s separately audited financial statements.

Verified corporate relationships are presented below.

The company-information card accompanying this profile currently states that no parent, subsidiary or ownership linkage is available for this company; that placeholder record does not reflect the verified shareholding and subsidiary relationships confirmed in Sunac Services Holdings Limited’s own Annual Report 2024 and described above.

Corporate-linkage information for Sunac Services Holdings Limited is best described as full at the shareholder level, based on Hong Kong’s SFO substantial-shareholder disclosure, and partial at the subsidiary level, since the company’s own annual report states that it lists only subsidiaries considered to principally affect the group’s results or assets, not a complete list of all group entities.

Sources: Sunac Services Holdings Limited, Annual Report 2024, “Report of the Directors – Interests of Substantial Shareholders” and Note 12 “Subsidiaries” to the consolidated financial statements, filed with the Stock Exchange of Hong Kong 30 April 2025 (hkexnews.hk, retrieved 10 September 2026); Sunac China Holdings Limited, “Quarterly Update on Implementation of Action Plan to Resolve Auditor’s Disclaimer of Opinion”, filed with the Stock Exchange of Hong Kong 31 March 2026 (hkexnews.hk, retrieved 10 September 2026).