MUMBAI, INDIA, Mar 13, 2025 - (ACN Newswire via SeaPRwire.com) - SRKay Consulting Group has released a groundbreaking whitepaper, “New-Shoring: The Next Evolution in Global Expansion,” providing data-driven insights into why companies are rapidly moving away from traditional offshoring models and embracing New-Shoring as a future-proof strategy.With geopolitical tensions, supply chain disruptions, and rising labour costs impacting global businesses, organizations are actively seeking new locations that offer regulatory stability, skilled talent, and operational resilience. According to the whitepaper, 76% of CEOs now see New-Shoring as a long-term transformation strategy, rather than a cost-cutting measure.Key Highlights from the WhitepaperWhy Offshoring is No Longer Sustainable:35% of executives rank political stability as the top concern when selecting new expansion locations.83% of North American and 90% of European businesses are actively diversifying their supply chains post-pandemic.China’s labor costs have surged by over 15% annually, reducing its cost-advantage.New-Shoring: The Strategic ShiftIndia (75%), Vietnam (70%), and Mexico (55%) are the top New-Shoring destinations based on workforce availability, infrastructure, and policy incentives.22% of global executives now use AI-powered site selection for risk mitigation and operational efficiency.57% of enterprises prioritize sustainability and ESG compliance in location selection.Case Studies from Industry LeadersApple – Shifting iPhone production to India to diversify its manufacturing footprint.Tesla – Expanding Gigafactories in Mexico for nearshoring closer to the U.S. market.Boeing – Investing in Mexico’s aerospace hub to improve supply chain efficiency.The Future of Global ExpansionAI-driven automation, hybrid workforce models, and geopolitical realignments will define business expansion strategies over the next five years.Companies that embrace New-Shoring will gain a competitive advantage in resilience, speed-to-market, and innovation.As per Karunjit Kumar Dhir, CEO of SRKay Consulting Group:"New-Shoring isn’t just about cutting costs—it’s about ensuring long-term stability and business resilience. Our latest whitepaper outlines a strategic framework for companies looking to make this shift effectively."Why Download the WhitepaperDiscover which global destinations offer the best opportunities for New-Shoring.✔ Gain insights into AI-driven decision-making for site selection and risk assessment.✔ Explore real-world case studies showcasing how top companies are making the shift successfully.Download the Whitepaper today and future-proof your global expansion strategy.About SRKay Consulting GroupWith operations in eight countries, SRKay Consulting Group is a trusted partner for businesses navigating global expansion, New-Shoring, and offshore transformation strategies. The firm specializes in regulatory compliance, digital transformation, and operational excellence, helping enterprises unlock growth opportunities in emerging markets.For media inquiries, partnerships, and whitepaper access:Komaldeep KaurEmail: Komal@mianext.comExplore More: www.srkay.com Copyright 2025 ACN Newswire via SeaPRwire.com.
HONG KONG, Mar 18, 2025 - (ACN Newswire via SeaPRwire.com) - China Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1234) today announced its results for the year 2024.Mr. Wang Dong Xing, Chairman and Non-Executive Director of China Lilang, said:“In 2024, amidst persistent global complexity and volatility, the prospects of geopolitical and economic environment remain complex and the impact of trade tariffs on real economy is unpredictable. As a leading player in the industry, the Group firmly promoted its strategic transformation during the year, leveraging technology to improve corporate management. It strengthened its domestic sales network and further optimized the channel layout effectively with distributors and various partners to improve operational efficiency and achieve higher quality and healthy growth."During the year, the Group’s revenue increased by 3.0% year-on-year to RMB3.65 billion. Notably, the smart casual collection grew by 27.2%, mainly benefiting from the strong increase in average single store sales and the significant results in new retail channels, continuing the positive momentum from 2023. The core collection recorded a decrease in sales of 3.0%, mainly due to the Group’s recovery of distribution rights in the three provinces of the North-Eastern China region and Jiangsu Province for the transition to a direct-to-consumer (DTC) model for operation, which resulted in a decline of sales in the distribution business. In addition, the Group paid compensation to former distributors in these four provinces, the amount of which was directly deducted from sales revenue.The gross profit margin decreased slightly by 0.5 percentage point year-on-year to 47.7%, mainly due to the one-off compensation paid to distributors and the decrease in the reversal of inventory provision. Profit Attributable to Shareholders was RMB461 million (2023: RMB530 million). Profit margin attributable to shareholders reached 12.6% (2023: 15.0%). Earnings per share were RMB38.51 cents.During the year, the Group maintained a healthy financial position and sufficient cash flow. The Board recommends a final dividend of HK9 cents per share and a special final dividend of HK3 cents per share. Together with the interim dividend already paid, the total dividend for the year amounted to HK30 cents per share, maintaining a stable dividend payout ratio.In response to the strong development trend of new retail, the Group adopted a new strategy to transform its e-commerce platform from a channel for clearing inventory to a retail outlets for new products . The Group also continued to strengthen new retail’s platform positioning, and opened multiple online channels such as “Pinduoduo” and “Poizon” on top of the original e-commerce channels. New retail sales for the year grew by 24% year on year.In the face of ever-changing market trends, China Lilang adopted flexible strategies to steadfastly embrace transformation. Through its diversified sales channels and precise market positioning, the Group’s products and services are more closely aligned with the buying habits of Chinese menswear consumers, thereby driving sales growth. The Group advanced its channel transformation during the year. The DTC model was first implemented for the “LILANZ” core collection in North-Eastern China and Jiangsu Province, replacing the previous model operated by distributors. Within less than a year of implementation, these initiatives have already generated significant growth for the Group in North-Eastern China and Jiangsu Province and are expected to provide even greater contributions to the Group’s long-term performance. In addition, the Group has also adopted the direct-to-retail model and the direct-to-retail e-commerce model for its smart casual collection. As at the end of December 2024, the Group had a total of 2,451 core collection stores and a total of 322 smart casual collection stores, for a total of 2,773 stores, a net increase of 78 over the same period last year. In terms of brand promotion, the Group has actively explored various new marketing approaches, with a focus on “innovation, quality, and youthfulness” as key themes. Through initiatives such as brand strategy upgrades, celebrity endorsements, digital marketing, and corporate social responsibility efforts, the Group has continuously innovated its core collection and smart casual collection. These efforts have successfully reached consumers across cities of different tiers and age groups.The Group’s “Multi-brands and Internationalization” development strategy entered a substantive stage last year, and the Group started to work with international companies to enrich its product portfolio. The Group acquired the brand ownership of premier golf appareal brand “MUNSINGWEAR” within the PRC by means of a controlling joint venture structure in August last year and the related inventory take-over work is progressing smoothly. In addition, the Group’s plan to open international stores in Malaysia is well on track.In 2025, China Lilang will continue to leverage its advantages to drive reform and transformation and seize opportunities arising from market consolidation. The Group aims to achieve a net increase of 100 stores in 2025, and will prioritize the opening of new stores in premium shopping malls in provincial capitals and prefecture-level cities, locating the stores in areas with high foot traffic and high consumption potential. In addition, it will increase the scale of store openings in outlets to attract consumers with reasonable prices and effectively clear inventories. At the same time, it will flexibly close underperforming stores and strictly control costs and expenses to enhance overall store performance and ensure precise allocation of resources to the target consumer group.To sustain the strong momentum of the new retail business and seize market opportunities, the Group will increase sales of new products online during the year, targeting to raise the proportion of new product sales to 80% of total e-commerce sales. The Group also aims to achieve a growth of 15% or more in new retail business and an overall sales growth of no less than 10% in 2025.The Group will advance its “Multi-brand and Internationalization” development strategy as planned. The online sales of its joint venture company “MUNSINGWEAR” are expected to officially commence during the first half of this year, while the first physical store will be opened in the second half. In addition, the Group’s plan to open the first store in Malaysia in the first half of the year is progressing smoothly. This will enable the Group to achieve its goal of operating three brands – “LILANZ”, “LESS IS MORE” and “MUNSINGWEAR”, in the Chinese and Malaysian markets by the end of 2025, marking the official venture of Lilang brands of household words domestically, into the international market.Mr. Wang Dong Xing, concluded, “We remain cautiously optimistic as we face the challenges and opportunities that lie ahead. While persistently pursuing the established strategies and driving the growth of our new retail business, we will also strive to expand our market share and enhance brand competitiveness by advancing the ‘Multi-brand and Internationalization’ strategy. We are committed to realizing higher quality and sustainable growth, strengthening our leadership position in the menswear industry, providing consumers with premium products and services, and maximizing value for shareholders."About China LilangChina Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under brands of LILANZ LESS IS MORE across an extensive distribution network, covering 31 provinces, autonomous regions and municipalities in the PRC. Copyright 2025 ACN Newswire via SeaPRwire.com.
Tokyo, London, and Frankfurt, Mar 18, 2025 - (JCN Newswire via SeaPRwire.com) - JCB, Japan’s only international payment brand, and First Cash Solution, a leading integrated payment provider as a subsidiary of Volksbank eG – Die Gestalterbank, today announced a strategic partnership to significantly expand JCB Card acceptance throughout Germany. This collaboration has streamlined e-commerce transactions and expanded payment options for all merchants with J/Secure™ since its launch in 2024.This collaboration significantly enhances the quality of service and strengthens fraud prevention for merchants accepting JCB payments, particularly for those customer transactions originating from Asia. The implementation of J/Secure™ reinforces First Cash Solution’s commitment to providing its existing merchants with the highest level of security and a seamless payment experience for their customers.JCB Cardmembers can now enjoy an even smoother payment experience thanks to this collaboration and the implementation of this European standard. J/Secure™ has been implemented for First Cash Solution merchants accepting JCB payments. This will encompass a diverse range of merchants across various sectors, including accommodation, travel, dining, sports, and lifestyle. This partnership is set to boost JCB Cardmember spending throughout Germany, whilst simultaneously introducing First Cash Solution merchants to a vast new market of 164 million JCB Cardmembers, especially benefiting from a strong cardmember base from Asia."Our collaboration with First Cash Solution marks an exciting step forward in expanding JCB's presence throughout Germany," said Ray Shinzawa, Managing Director of JCB International (Europe) Ltd. "This partnership unlocks greater convenience and security for JCB Cardmembers, who can now use their cards across a significantly larger network of European merchants. We are dedicated to providing our international cardmembers with a seamless payment experience, and this collaboration with First Cash Solution is crucial to achieving that goal."Bastian Minet, Head of Sales, First Cash Solution added, "This strategic partnership with JCB is a testament to First Cash Solution's commitment to providing our merchants with the leading payment solutions available on the market. By integrating JCB, we're not only expanding our global reach but also opening doors for our merchants to tap into the immense potential of the Asian market. We're particularly excited for our merchants who cater to an Asian clientele, as this partnership offers them a direct path to enhanced customer satisfaction and increased revenue potential."About JCB JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 53 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 164 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/About First Cash SolutionFirst Cash Solution (1cs) is an experienced, independent acquirer and payment service provider offering acceptance solutions for all major credit cards and modern payment methods. With its product portfolio solution360, 1cs tailors its offerings to meet the specific needs of its customers, providing customized solutions for every payment situation. The portfolio includes all relevant credit card acceptances, modern payment methods, payment terminals, gift card solutions, and online payment systems. 1cs supports its customers with innovative booking solutions that streamline cash flows and save real money. As a personal point of contact, the company stands for service and communication on an equal level. The team spirit – both within the company and in collaboration with partners and customers – is a top priority. As a 100% subsidiary of Volksbank eG – Die Gestalterbank, 1cs meets the expectations and needs of over 22,000 customers with expert knowledge from the German SME market – for and with the SME market.About J/Secure™JCB’s J/Secure™ authentication program for card-not-present transactions has been protecting JCB Cardmembers from identity theft. J/Secure™ makes online commerce more secure by adding an important identification step that enables cardmembers to directly authenticate their cards with the issuer.MEDIA CONTACTS: JCB International (Europe) Ltd. Diana Lee: dlee@jcbeurope.euJCB (Head Office in Japan) Anna Takeda: jcb-pr@info.jcb.co.jp Copyright 2025 JCN Newswire via SeaPRwire.com.
HONG KONG, Mar 17, 2025 - (ACN Newswire via SeaPRwire.com) - Yuexiu Real Estate Investment Trust ("Yuexiu REIT", together with Yuexiu REIT Asset Management Limited, collectively known as the “REIT”; stock code: 405) announced its annual results for the year ended 31 December 2024.Yuexiu REIT Management Team: Chairman, Chief Executive Officer and Executive Director Mr. LIN Deliang (third from the left), Deputy Chief Executive Office and Executive Director Ms. OU Haijing (second from the left), Chief Financial Officer Mr. KWAN Chi Fai (first from the left), and Investor Relations Director Mr. JIANG Yongjin (fourth from the left)2024 Annual Results Highlights:- Overall operation was stable, with total revenue of RMB2,032 million (2023: RMB2,087 million).- Net property income stood at RMB1,445 million (2023: RMB1,475 million).- As at 31 December 2024, the overall occupancy rate of the properties was 84.5%, which is well in line with the previous year.- The Manager has partially waived the manager’s fees to mitigate the impact of the economic downturn on the REIT’s performance- The final distribution to the Unitholders for the period will be approximately RMB0.0254, equivalent to HK$0.0275. Distribution per Unit for the year will be approximately RMB0.0625, equivalent to HK$0.0680. Distribution yield is 7.08% per Unit for the year.- To enhance the REIT’s financial flexibility, the distribution ratio for the period from 1 July 2024 to 31 December 2024 has been adjusted to 90%, resulting in an overall full-year distribution ratio reaching approximately 96%.Guangzhou International Finance Center (GZIFC):- Operating revenue of the GZIFC complex was RMB1,008 million, accounting for 49.6% of the REIT’s total revenue.- The office building of GZIFC successfully renewed leases with a number of quality tenants, with a renewal rate of more than 80% achieved for the year.- Newly introduced brands to the GZIFC Shopping Mall which recorded a year-on-year increase in sales of more than 15% as compared with the existing brands, leading to a 7.4% increase in annual customer flow as compared with the same period last year. GZIFC Shopping Mall recorded a high occupancy rate of 98.3% as at the end of the year, which aligns favourably with the previous year.- The average occupancy rate of Four Seasons Hotel and Ascott Serviced Apartments recorded increases of 1.6 percentage points and 0.3 percentage point, respectively, with the annual revenue of the Apartments reaching a record high.Yuexiu Financial Tower:- Yuexiu Financial Tower recorded operating revenue of approximately RMB362 million, with the occupancy rate at 83.7%.- Successfully renewed leases for more than 26,000 sq.m. for the year, achieving a renewal rate of more than 60%, which contributed to the continuous improvement in the tenant structure.Proactive Management of Financing Risk and Effective Stabilisation of Financing Cost- With regard to the 5-year bonds of HK$1.12 billion, the 3-year syndicated loan of HK$4.8 billion, and the remaining portion of the 3-year syndicated loan of HK$1.2 billion, all due in 2024, the Manager obtained a short-term loan of RMB530 million, a 3-year loan of HK$1.12 billion, a 3-year loan of RMB2.8 billion, and a 3-year HK$1,805 million equivalent HKD/RMB loan during the year, to refinance the maturing loans so as to ensure effective monitoring of liquidity risk.- Taking advantage of the position of the RMB interest rate market, the Manager continued to research various financing instruments and actively adjusted the financing structure in order to minimise the impact of the interest rate market on the operating results of Yuexiu REIT. A total of over RMB4.5 billion in loans were obtained in February and December 2024 to refinance offshore HKD floating rate loans, hence, the overall financing costs of Yuexiu REIT have been effectively reduced.- While maintaining appropriate floating rate exposure, the Manager proactively adjusted the financing structure to minimise the impact of the interest rate market. At the end of 2024, the overall interest rate of Yuexiu REIT’s financing was 4.16% per annum, representing a decrease of 58 basis points from 4.74% at the beginning of the year; the average interest payment rate for the year was 4.53%, representing a year-on-year decrease of 7 basis points from 4.60% in 2023.- The Manager adjusted the financing structure and timely used foreign exchange hedging tools at a reasonable cost to monitor foreign exchange exposure, with the proportion of RMB financing rising from 39% at the beginning of 2024 to 60% at the end of the year.Mr. LIN Deliang, Chairman, Chief Executive Officer and Executive Director of Yuexiu REIT, said, "China faced a series of macroeconomic challenges in 2024, including insufficient demand, weak consumption and an ongoing downturn in investments. In the face of operating pressure, the Manager has nonetheless remained firmly confident, strengthening risk management, formulating asset management strategies based on a thorough assessment of the actual situation, and making every effort to stabilize operating fundamentals. Specifically, for office buildings, the Manager increased the supply of furnished units to meet market demand, and successfully introduced a number of quality tenants, thereby effectively shortening the business solicitation cycle. For retail shopping malls, the Manager introduced emerging popular brands, while at the same time boosting customer flow and consumption by organising activities with diverse themes. For hotels, the Manager formulated flexible pricing strategies to seize market share and enhance the reputation of their catering facilities. As for the specialised market, the Manager helped boost tenant sales by tapping multiple channels, which facilitated the steady recovery of both rental levels and occupancy rates. Through such effective asset management efforts, the Manager has taken full advantage of favourable policies and market opportunities, and effectively secured the operating income for Yuexiu REIT during the year, even though high interest rates weakened overall distribution”Guangzhou International Finance Center (GZIFC)GZIFC took a leading position in terms of tenant loyalty and market competitiveness among peers with its good tenant structure and supportive service system. This year, the office building component of GZIFC prioritised occupancy stability and successfully renewed leases with several quality tenants under the “one distinctive policy for each key customer” strategy, achieving a renewal rate of over 80% for the year, thus effectively securing high-quality customer resources. To match the market demand, GZIFC launched small- and medium-size furnished units with a total area of approximately 7,200 sq.m., of which more than 80% were rented out within the year. During the year, GZIFC enabled two renowned law firms and an investment company to expand their existing lease areas by more than 3,800 sq.m. in aggregate, and introduced quality new tenants to take up more than 5,000 sq.m.. The occupancy rate of the office building of GZIFC was 85.3% at the end of the period, which is well in line with the previous year.During the year, the retail shopping mall GZIFC Shopping Mall actively rationalized its brand portfolio and optimized the tenant structure, introducing new merchants such as bakeries, fast food chains, high-end cafes and trendy snack shops to address the demand for business and dining convenience. Newly introduced brands recorded a year-on-year increase in sales of more than 15% as compared with the existing brands, effectively boosting the sales of the shopping mall. GZIFC Shopping Mall also organised a series of activities which have gained tremendous popularity, including its 8th anniversary celebration event, the “Wandering Acquaintance Festival” summer programme, and the exclusive joint activities of The Phantom of the Opera - Guangzhou Station, staged at the Guangzhou Opera House. By doing so, GZIFC Shopping Mall has activated the scene atmosphere and attracted customer traffic, leading to an 7.4% year-on-year increase in annual customer flow. GZIFC Shopping Mall recorded a high occupancy rate of 98.3% at the end of the period, also well in line with the previous year.In 2024, the average occupancy rate of Four Seasons Hotel reached 81.5%, representing a year-on-year increase of 1.6 percentage points. The average room rate was RMB2,136, representing a year-on-year decrease of 4.6%. By formulating flexible pricing strategies and capitalising on the market demand from the international trade fairs and holiday economy, Four Seasons Hotel has seized a share of the high-end market. The revenue per available room (RevPAR) was RMB1,740, and the RevPAR competitive index of the hotel was 114.8, maintaining a dominant position among major hotel competitors for the eleventh consecutive year. Moreover, the Chinese restaurants of Four Seasons Hotel have won multiple Michelin awards. Yu Yue Heen retained its title of “one Michelin star” restaurant in Guangzhou, CATCH was awarded the 2024 “Michelin Guide Selected Restaurant (Plate Award)” in Guangzhou, and the Chinese Executive Chef won the 2024 “Michelin Guide Young Chef Award” in Guangzhou.In 2024, the average occupancy rate of Ascott Serviced Apartments reached 90.5%, representing a year-on-year increase of 0.3 percentage point. The average room rate was RMB1,119, representing a year-on-year increase of 0.1%. The RevPAR was RMB1,013, representing a year-on-year increase of 0.5%, and the RevPAR competitive index reached 140, maintaining a high level among competing apartments. By accurately interpreting the changing trends of its customers, and particularly the long-stay needs of its core customer groups, the Apartments’ long-term rental business has achieved a renewal rate of nearly 50%. Meanwhile, as the rise in inbound foreign tourists led to an increase in the number of short-stay customers, annual revenue has hit a record high. Moreover, the Apartments have ranked first both in operating revenue and gross operating profit (GOP) in Ascott China for nine consecutive years since 2016.Yuexiu Financial TowerYuexiu Financial Tower successfully renewed leases for more than 26,000 sq.m. for the year, achieving a renewal rate of over 60%. To enhance the attractiveness of its products, Yuexiu Financial Tower proactively analysed the needs of potential customers and launched furnished units with a total area of approximately 14,000 sq.m. for the year, of which more than 90% were successfully rented out within the year, effectively shortening the business solicitation cycle and supporting rental levels. The newly introduced tenants included a major domestic law firm and four premium financial enterprises, which contributed to the ongoing improvement in tenant structure. For tenants who had significant reductions in rental costs, Yuexiu Financial Tower successfully retained six such tenants upon expiration of their leases by employing such strategies as relocating to another floor or reducing the leased area. This reflected the business solicitation team’s ability to take a pragmatic approach. Yuexiu Financial Tower recorded an occupancy rate of 83.7% at the end of the year, representing a year-on-year decline of 4.8 percentage points.White Horse BuildingDuring the year, White Horse Building continued to consolidate its position as the “China Brand Apparel International Trading Center”, and successfully renewed leases with existing customers as well as introduced several quality tenants. The occupancy rate of White Horse Building climbed to 97.1% at the end of the year, a new five-year high, while revenue grew by 12.1% year on year. Together with its 11 original premium apparel brands, White Horse Building participated in the 2024 China International Fashion Fair. It held the 2024 Guangzhou Baima Garment Market Procurement Festival, and made its debut at the 2024 China (Guangzhou) International Fashion Industry Conference, artfully incorporating elements of the 2025 National Games and inviting sports champions and elites to visit the stores. It also took the initiative to explore new digital models and promote the construction of a smart market. During the year, it officially launched the Baima Smart Selection platform, on which 276 brands have been introduced so far. At the same time, it utilised technologies such as AI fitting, VR shopping and live broadcasting to create the second performance growth curve for online transactions.Fortune Plaza and City Development PlazaFortune Plaza introduced many quality tenants during the year, including a leading daily necessities company, thus further optimising its tenant structure. The business solicitation team seamlessly introduced a technology company to take up the whole floor vacated by a tenant who did not renew its lease, and successfully renewed leases with many quality tenants, including an international investment company with a petrochemical industry background. Fortune Plaza recorded an occupancy rate of 92.4% at the end of the year, well in line with the previous year. During the year, City Development Plaza successfully introduced a government-owned sports services agency, which not only improved the occupancy rate, but also expanded its reputation in the industry. During the year, City Development Plaza renewed leases with three quality tenants for a total of approximately 2,300 sq.m., and the occupancy rate climbed to 92.7%, representing a year-on-year increase of 4 percentage points.Victory PlazaVictory Plaza actively stabilized the sales of its anchor tenant “Uniqlo” Victory Plaza Shop, with the number of customers visiting the shop increasing by 4% year-on-year, and its annual sales ranked first in China once again. The mall’s customer flow for the year increased by 5% year on year as events with diverse themes were organized jointly with IKEA, Sleep Hub, Book Center, Information Times, etc. It also introduced two branded aesthetic medicine companies to further enrich the consumption scenarios. Victory Plaza recorded a newly contracted area of more than 1,300 sq.m. and renewed leasing area exceeded 1,200 sq.m. for the year, with an occupancy rate of 96.6%, representing a year-on-year increase of 3.1 percentage points.Shanghai Yue Xiu TowerShanghai Yue Xiu Tower launched furnished products to meet tenants’ need for easy occupancy, and recorded a newly contracted area of more than 9,900 sq.m. for the year, the largest since 2020. In order to improve the risk resilience of its tenant structure, Shanghai Yue Xiu Tower actively introduced certain quality tenants from the commercial services and information technology sectors during the year, including a renowned new energy vehicle joint venture and a well-known joint venture that provides digital technology services. Owing to the lease renewal plans formulated in advance, which are based on the principle of “one distinctive policy for each key customer”, Shanghai Yue Xiu Tower achieved a renewal rate of over 70%, and the occupancy rate was 89.5% at the end of the year, corresponding well with the previous year.Wuhan PropertiesWuhan Yuexiu Fortune Centre continued to promote the renovation and adjustment of vacant units and offered more small- and medium-size products, which drove the newly contracted area to over 27,000 sq.m. for the year, and a number of quality tenants were introduced as well. More than 19,000 sq.m. of leasing area were renewed with certain outstanding enterprises during the year, including a top 500 liquor enterprise in China, a top 500 dairy company in China, and the Hubei branch of a global leading elevator company, leading to a renewal rate of more than 60%.Starry Victoria Shopping Centre continued to optimise different business formats for its portfolios. By tapping deeply into emerging brands that are popular among consumers, it enriched the range of children-related amenities and activated the overall retail atmosphere. The shopping mall recorded a 21% year-on-year increase in customer flow and an 8% year-on-year sales increase for the year. The business solicitation team successfully retained five merchants with large leasing areas, and engaged new tenants in advance to seamlessly take up expiring areas. The newly contracted area exceeded 6,600 sq.m., and the occupancy rate was 90% at the end of the year, which aligns favourably with the previous year.Hangzhou VictoryHangzhou Victory successfully renewed leases for more than 10,000 sq.m., including with a local internet technology company from Zhejiang, and the Zhejiang branch of a provincial state-owned enterprise from Shanxi Province. Hangzhou Victory introduced a number of quality tenants during the year, including a biotech company, an asset management company, and a Fortune 500 construction company. Hangzhou Victory maintained a high occupancy rate of 97.7% at the end of the year.ProspectsThe global environment remains complex and challenging, with increasing geopolitical uncertainties and growing trade concerns. While economic growth and inflation have slowed in the United States, a wait-and-see sentiment has prevailed toward the pace of interest rate cuts by the US Federal Reserve. Moreover, the rates on the US dollar and Hong Kong dollar are expected to remain at high levels for a certain period of time. Regarding China, it regards economic stability as its top priority, hence has adopted a moderately loose monetary policy to boost the economy, and vigorously stimulated investment and consumption to expand domestic demand. The RMB interest rates remain at a relatively low level. New quality productive forces are growing at an accelerated pace and are expected to create new industrial momentum.The Manager will maintain a prudent and optimistic stance, and implement positive and pragmatic operating strategies to manage risks proactively, in an effort to generate stable returns for the Unitholders. In terms of asset management, the Manager will keep abreast of economic developments and trends and implement proactive, reasonable and flexible leasing strategies, while at the same time integrating the concepts of low-carbon, green, intelligent, and healthy practices into all aspects of business operations. By continuously reviewing the growth potential of the asset portfolio, the Manager will be able to keenly seize potential investment opportunities that emerge, further enhance the competitiveness of the portfolio, and promote sustainable development.In terms of financing management, in light of rising foreign interest rates and the relatively low value of the RMB, the Manager will continue to examine and make reasonable adjustments to its financing structure based on expectations about market developments. It will also introduce low-cost RMB financing through various RMB financing channels to seek more favourable financing costs to offset interest rate risk.With respect to renovation projects, the Manager is planning to invest primarily in asset appreciation projects for GZIFC, Yuexiu Financial Tower, White Horse Building, Fortune Plaza, City Development Plaza, Shanghai Yue Xiu Tower, Wuhan Yuexiu Fortune Centre, and Hangzhou Victory, to preserve the value and promote the appreciation of these properties, as well as ensure their sound operation.About Yuexiu Real Estate Investment TrustYuexiu Real Estate Investment Trust ("Yuexiu REIT") was listed on the Hong Kong Stock Exchange of Hong Kong Limited on 21 December 2005 and is the first listed real estate investment trust only investing in properties in the People's Republic of China (the "PRC") in the world. The current property portfolio comprises ten high quality properties, namely Guangzhou International Finance Center, White Horse Building, Fortune Plaza, City Development Plaza, Victory Plaza, Yuexiu Financial Tower in Guangzhou, Yuexiu Tower in Shanghai, Wuhan Properties in Wuhan (including Wuhan Yuexiu Fortune Centre and Starry Victoria Shopping Centre), Victory Business Centre in Hangzhou and Yuexiu Building in Hong Kong, with a total area of ownership of approximately 1.184 million sq.m. All properties are located in the central business district of Guangzhou, Shanghai, Wuhan, Hangzhou and Hong Kong respectively. The categories of the properties include Grade-A offices, commercial complexes, retail business, hotel, serviced apartments and professional clothing market etc.For media enquiries:Strategic Financial Relations LimitedVicky LeeTel: +852 2864 4834Email:sprg_yx@sprg.com.hkPhoebe LeungTel: +852 2114 4172Lilia YangTel: +852 2864 4833Websitehttp://www.sprg.com.hk Copyright 2025 ACN Newswire via SeaPRwire.com.
