(Hong Kong, March 22, 2017) Hang Lung Group Limited (HKSE Stock Code: 00010) and Hang Lung Properties Limited (HKSE Stock Code: 00101) today published their Annual Reports themed “We As One” for the Financial Year 2016.
Chairman of Hang Lung Group and Hang Lung Properties Mr. Ronnie C. Chan continued to pen his Letters to Shareholders in this year’s Annual Reports, with over 8,400 words (Chinese translations of around 14,000 words) and over 4,500 words (Chinese translation of 7,400 words) for Hang Lung Group and Hang Lung Properties, respectively. Mr. Chan analyzed in detail the transformation of the political, economic, and social environment of Hong Kong since the 1950s. Together with the ever-changing political and economic landscape in China and the world, he cited how Hang Lung has grasped opportunities in different stages in previous years to lay firm business foundations for the Company and a solid establishment in the Mainland market, enabling sustainable development into the future.
Reflecting on the recent acquisition of high-priced land by Mainland developers, Mr. Chan elaborated on how this phenomenon will affect the real estate market in Hong Kong as well as local developers.
In this year’s Annual Reports, Mr. Chan also discussed the Company’s management succession plan and his views on corporate governance. He mentioned that, under the direct supervision of the Board, the succession plan is proceeding well. Mr. Chan is full of confidence with regard to the prospects of Hang Lung, as he believes the Company has already gained a favorable market position, allowing it to grasp development opportunities and face any challenges outperforming the market.
Mr. Chan added that this year’s Letter to Shareholders is also meant for staff, with a hope that they might become better acquainted with the Company’s history and the market in which it operates. He said properly reading history is the only way to predict the future. He also wants employees to be reminded of the values and corporate culture that the Company must hold dear to in order to continue to thrive.
For the key points of the Chairman’s Letters to Shareholders in the Annual Reports of Hang Lung Properties and Hang Lung Group, please refer to the appendix.
The Financial Year 2016 Annual Reports are now available for download from the Hang Lung corporate website at www.hanglung.com
Hang Lung Group
Hang Lung Properties