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| Corporate Profile |
Principally engaged in development, lease and management of underground shopping mall in the PRC.
Business Review - For the year ended December 31, 2012
The Group currently manages 24 malls across 16 cities in China. Gross floor area (¡§GFA¡¨) under management (includes GFA sold but continue to provide management and advisory services) currently stands at 1.39 million square meters (¡§sq.m¡¨); leasable GFA stands at 0.77 million sq.m. The Group's project reserves stand at 4.98 million sq.m. This includes 12 projects under construction, equivalent to 1.45 million sq.m of construction GFA and 20 projects approved and under planning stage, equivalent to 3.54 million sq.m of approved GFA.
Throughout 2012, the Group commenced operation of three underground malls. The Group's Fushun ¡§The First Tunnel¡¨ mall was opened for operation in February 2012. This mall is located beneath Zhongyang Avenue and Dongyi Road of Fushun City, Liaoning Province. This underground shopping mall has a total GFA of approximately 10,596 sq.m. In December 2012, the Group's Yueyang ¡§The First Tunnel¡¨ mall was officially opened for operation. This mall is located beneath Dongmaoling Road and Pedestrian Street, Yueyang City of Hunan Province. This underground shopping mall has a total GFA of approximately 81,780 sq.m. The Group also commenced operation of a mall in Harbin in December 2012. This mall is an extension of the Group's Harbin Phase 6 project and is located beneath Toulong Street of Harbin City, Heilongjiang Province. This mall has a total GFA of approximately 9,534 sq.m.
Business Outlook - For the year ended December 31, 2012
The Group believes that China's positive stance and support towards the consumption sector and underground shopping centers development remains intact. Looking ahead to 2013, the Group will continue to focus its resources in consolidating its existing investment properties. The Group will be selective and be opportunistic in terms of commencing construction on new projects. On top of that, the Group will continue to search for more good projects across China; including both new cities and cities in which the Group already has a project.
Source: Renhe Comm (01387) Annual Results Announcement
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| Chairman |
DAI Yongge |
Issued Capital (shares) |
21,148M |
| Par Value |
HKD 0.01 |
Market Capitalisation (HKD) |
9,622M |
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