About Us

Parking Crisis in China

A car typically needs 2 car park lots, one at work place and one at home

Registered parking lot ratio around the world:
Europe and Japan – 1 : 2.2
America and Canada – 1 : 1.9
China – 1 : 0.3

As at end 2018, China has more than 240 million* cars (exclude motorcycles and off-road vehicles), with a modest target parking ratio of 1.3, China is still in need of 200 million parking lots

Cars population is also growing at 10% per annum or 20 million new cars a year

Objectives of the Company

Specialized on investment in carparks industry in China

Capitalizing on the market demand, to build a portfolio of 25 to 30 automated car parks over the next 3 years

To be very selective and only invest in projects with over 25% ROI

To achieve a free cash flow of over RMB300 million per annum by the fourth year

To set up a Business Trust in Singapore to offload the portfolio

Funding Requirement

RMB 500 million commitment from management and government

  • RMB 150 million from management team lead by Yang Zhenqiu –
  • RMB 350 million from Bin Hai Xin Qu Government Fund (“BHXQ”)

BHXQ is the second largest shareholder of Dayang Parking Co., Ltd (owing 17% )

AAP targets to raise another RMB 550 m, bringing the total fund to RMB 1.0 billion

Effective Fee Structure

Target fund raising: RMB 1 billion

Mgmt & Govt commitment: RMB500m

Management fee: 2% per annum

Carry interest: 20% upon divestment

Hurdle rate: 9%

Tenure of PS : 5 + 2 years

Estimated IRR: 30% per annum