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| Thursday, 1 March 2018, 17:35 HKT/SGT | |
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HONG KONG, Mar 1, 2018 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; HKEX: 1282) has announced that it is increasing its shareholding in Landing International Development Limited ("LID"; HKEX: 582).
China Goldjoy has been actively developing diverse businesses in recent years and has become an integrated investment holding company. Currently, it is principally engaged in integrated financial services, automation, manufacturing, securities investment as well as property investment and development. In terms of securities investment, its portfolio includes shares of financial, property, energy and tourism companies. While its investments span a wide range, it focuses on those industries related to people's livelihood and rising consumer spending. With a well-established reputation in the market and outstanding capabilities, many Mainland companies consider introducing China Goldjoy as a cornerstone investor when they launch an IPO in Hong Kong.
LID is a developer and operator of integrated leisure and entertainment resorts and entertainment facilities, as well as a property developer. Its flagship project Jeju Shinhwa World occupies an area of 2.5 million square meters in Jeju, South Korea. As LID's first world-class integrated resort in Asia, it features catering, accommodation, leisure and entertainment. Jeju Shinhwa World is to be developed in phases, with Shinhwa Theme Park, Somerset Jeju Shinhwa World, Landing Resort, Landing Convention Centre, YG Republique, Marriott Resort, Shinhwa Shoppes and Jeju Shinhwa World Landing Casino already open for business. The entire project is expected to be completed by 2020.
On 21 February 2018, LID announced its consolidated revenue increased 147% year-on-year to approximately HK$896 million in 2017. Profit attributable to the owners of the Company was approximately HK$505 million, a turnaround from the loss recorded in 2016.
Mr Li Minbin, Executive Director of China Goldjoy, said, "With economic development and escalation of consumer spending in the PRC as well as the rapid growth in China's cultural tourism industry, the Group is optimistic about the future of that industry and is actively exploring domestic and foreign investment opportunities. We appreciate LID's rich experience and expertise in the construction and operation of world-class cultural tourism projects and theme parks, and we are positive about its development prospects as its results have turned from loss to profit in 2017 and many of the resort projects developed and operated by LID have commenced operation and contributed profit. We may also cooperate with LID to develop cultural tourism projects and theme parks in Mainland China should suitable opportunities arise."
About China Goldjoy Group Limited (HKEX: 1282)
China Goldjoy Group Limited, established in 2009, was listed on the Main Board of The Stock Exchange of Hong Kong Limited on 15 December 2010 (Stock code: 1282). The Group has been successful in transforming its business achieving high value enhancement and diversification in the past few years, with main emphasis on integrated financial services, asset management, emerging industries and investment in and development of properties.
Through its subsidiaries, the Group offers securities, futures, precious metals trading, asset management, wealth management, corporate finance and credit financing services in Hong Kong, and asset management, investment management and financial leasing services in Mainland China. Property investment and development is also one of its major businesses, so it can make better use of existing resources to expand income source and improve its financial status. At the same time, to grasp business opportunities in emerging industries, the Group is actively developing new energy and energy-saving lighting, automation and smart manufacturing businesses.
China Goldjoy made it into the MSCI China Small Cap Index in 2017 and is also a constituent of several Hang Seng indexes, including the Hang Seng Internet & Information Technology Index, Hang Seng Global Composite Index, Hang Seng Composite Index Series - Hang Seng Composite Index, Hang Seng Composite Industry Index - Information Technology, Hang Seng LargeCap & MidCap Index, Hang Seng MidCap & SmallCap Index and Hang Seng MidCap Index. The Group is also one of the eligible equities in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect schemes.
Corporate website: www.hk1282.com
Topic: Press release summary
Sectors: Daily Finance, Daily News
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