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Chairman's Speech

With China's economy and per capita GDP continue to grow in recent years, the country sees rising need for higher standard of living. Demand for housing remains strong as urbanization continues nationwide. All these present a favorable environment for the expansion of SIUD.
 
Since Shanghai Industrial Holdings Limited (“SIHL”; SEHK: 363) became the controlling shareholder, the Group has optimized capital structure and operational efficiency and created synergy by integrating resources with the parent company to expand further in the China real estate market.
 
The Group is becoming a major property platform of SIHL. With its well established foundation and the renowned “Shanghai Industrial” brand, the Group will seize opportunities in the real estate market. It will focus on the Yangtze River Delta while tapping opportunities to expand into all major cities nationwide. In addition, the Group will increase proportion of investment property in its land bank. It is set for becoming a leading real estate player in China, bringing optimal return to shareholders.
 
Zeng Ming
Chairman
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