Greentown Service Group Will Likely Post Slower Long-Term Top-Line Growth

Greentown Service Group, or GSG, was established in 1998 in Hangzhou mainly for the provision of property management services, or PMS, to Greentown China. GSG operates in three major business segments: 1) property management services; 2) community value-added services, or VAS, and 3) property consulting services and VAS to nonproperty owners. We consider GSG one of the leading property management and VAS providers in China, with business strength in the Yangtze River Delta.