"Franshion Properties" Officially Changes Name to "China Jinmao"

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Wednesday, 14 October 2015, 21:51 HKT/SGT

Upgrades Strategies to Become Quality "City Operator"

HONG KONG, Oct 14, 2015 - (ACN Newswire) - China Jinmao Holdings Group Limited ("China Jinmao" or the "Company"; Stock Code: 00817), announced that the Company name was officially changed from "Franshion Properties (China) Limited"("Franshion Properties")to "China Jinmao Holdings Group Limited" in a press conference held in Renaissance Beijing Wangfujing Hotel on 14 October, 2015.

Mr. Cai Xiyou, Chairman of the Board of China Jinmao Holdings Group Limited, said: "The change of the Company's name from 'Franshion Properties' to 'China Jinmao' signifies that our role has been transformed into a city operator from a pure real estate developer. 'Jinmao', as a renowned brand in China, has been widely used in properties developed by the Company. The adoption of 'China Jinmao' as the Company's new name will further unify the Company's branding strategy so as to enhance our market competitiveness and public awareness. The Board believes that the change of name is in line with the best interests of the Company as well as its shareholders."

After the change of the company name, China Jinmao will carry out an all-round strategic upgradation and focus on consolidated city development and operations throughout China. By leveraging on the Company's experience and advantages in the development in first tier and second tier cities, the Company will build new city hubs jointly with local governments from the perspective of city operations through a variety of measures including planning guidance, industry cultivation, residential development and supporting facilities. Meanwhile, the Company, standing on fundamental property services, aims to complete the business ecosystems of the communities, so as to meet customers' daily needs. Moreover, based on pertinent planning of urban functions, the Company is committed to meet customers' business needs by introducing industrial and office resources as well as fostering the combination of technology and city. The Company targets at better releasing the vitality of a city by integrating resources of education, health, culture, tourism, retirement and other facilities, to meet the need of customers' daily life.

China Jinmao's property development business has expanded rapidly and set its foot in 14 cities in China . As at late September this year, the Company has developed or is running 43 projects, forming a six high-end product series featuring Jin Mao Palace, Jin Mao Yue, Jin Mao Manor, Jin Mao Mountain, Jin Mao Lake and Jin Mao Bay. The Company continues to steadily expand its operation scale. The Company now owns 9 luxury hotels in prime sites and tourist attractions of first-tier cities, enjoying a leading position in the competition portfolio. The Company also owns several landmark office buildings in the prime districts of first and second-tier cities, such as Beijing, Shanghai and Nanjing. The leasing rate and rental of Beijing Chemsunny World Trade Centre and Shanghai Jin Mao Tower enjoyed leading positions in Beijing and Shanghai for years, respectively. Retail business of the Company has opened in Shanghai, Sanya, Nanjing and Lijiang with total Gross Floor Area of of over 480,000 square meters.

Besides, the Company takes a proactive approach to explore city development and operation. The Company has developed or is developing a number of projects, including Shanghai North Bund CBD Project, Changsha Meixi Lake International New City, Nanjing Qinglong Mountain International Ecological New City, Qingdao Jinmao China-Europe International City, Chongqing Jin Mao International Ecological New City, Guangzhou Nansha Jin Mao Bay and Lijiang Jinmao Guzhen. Equipped with the competitiveness of developing high-end residential apartments and operations of property, the Company is dedicated to create green and pleasant to live environment, and smart as well as high-tech urban hub areas with the combination of technology and city by integrating industries, tourism, culture and services. The objectives are to achieve a new label and new identity for the city.

Topic: Press release summary Sectors: Daily News
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