Page 21 - Hang Lung Group 2012 Annual Report

In terms of retail sales, our malls across the board performed
better in the second half of 2012 than in the first. Greatest
improvement came in Shanghai Plaza 66 which could be
partially explained by the re-opening of three top fashion
brand stores after expansion and renovation. All such works
were concluded by the third quarter. Shenyang Palace 66
also advanced by quite a bit, followed by Shanghai Grand
Gateway 66 and Jinan Parc 66. The trend seems to be
moving in the right direction.
PROSPECTS
It is plausible that the global economy in 2013 will improve
somewhat from that of last year. While we cannot expect
too much from Europe, the U.S. will hopefully pick up
some momentum. Against this backdrop, China, barring
unforeseen social issues, should not fare too badly. With
luck, it may outperform 2012.
One economic driver should be the further advancement
of urbanization which is emphasized lately by the incoming
Premier Mr Li Keqiang. Under this scenario, consumer
spending should rise which can only benefit our retail rental
business. Increased commercial activities should then lead
to a greater need for office space. We are truly well positioned
to benefit from the next phase of China’s economic growth.
˸ཧਯᕘࠇ ၑdණྠ࿩ɨהϞਠఙ׵
ɚཧɓɚϋɨ̒ϋٙڌତѩ༰ɪ̒ϋ
މԳf௰׼ᜑٙҷഛԸІɪऎٙ㛬ඤ
ᄿఙd௅ʱࡡΪ༈މਠఙɧ࢕௟ॴࣛ
ༀۜ೐ֳ׵ୋɧ֙ҁϓᓒ̂ʿᔕอʈ
೻ܝࠠอකุfᓨජٙެ۬㛬ඤᄿఙ
͵Ϟხɽҷഛdᎇމܝɪऎٙಥි㛬
ඤᄿఙʿ᏶یٙ㛬ඤᄿఙfҖැ޶Ը
͍နɝԳྤf
࢝ૐ
ɚཧɓɧϋܓdᐑଢ຾᏶̙ࣘ༰̘ϋ
Ϟהҷഛfᒱ್Ңࡁ࿁ᆄ ݲʔ֝Ϟ˄
ɽᅏᅓdШߕ਷̙ૐᄣ૴ਗɢfίϤ
ઋ ر ɨdʕ਷ৰڢ ̈ତʔ̙ཫԈٙ
ٟึਪᕚdщ ۆՉઋ ر Ꮠ༈ʔึ˄
ࢨfֱ༶ٙ༑dՉڌତ̙ঐ௷ཀɚཧ
ɓɚϋf
ࡉ΂ᐼଣҽд੶΋͛௰ڐ ੶ሜdආɓ
Ӊ۬ᕄʷਗ਼ึપਗʕ਷຾᏶fίϤઋ
رɨdऊ൬Ꮠึɪʺd࿁͉ණྠٙཧ
ਯॡ༣ุਕΪϤ͵މޟϞлfϾᎇഹ
ਠุݺਗᄣ̋d፬ʮᅽ͵ਗ਼Ϟһɽც
ӋfҢࡁᆽྼஈ׵Ꮄැd̙̂ʱա౉
׵ʕ਷຾᏶ٙɨɓቃᄣڗf
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