(Hong Kong, March 23, 2016) Hang Lung Group Limited (HKSE Stock Code: 00010) and Hang Lung Properties Limited (HKSE Stock Code: 00101) today published their 2015 Annual Reports themed “Honing Our Edge”.    
 
Mr. Ronnie C. Chan, Chairman of Hang Lung Group and Hang Lung Properties, has penned his Letters to Shareholders in annual reports for many years. He has emphasized that they are appropriate platforms for management to communicate with shareholders and the market at large the views of the Companies on the economy, the real estate industry, and the Companies’ operation strategies. The principle is to be transparent.
 
This year, Mr. Chan continues his meticulous sharing of insights into China’s economy and elaborates on the long-term strategies the Companies will take. He said, “There are many positive societal developments which bode well for the economy. Some of them are of a short-term while others are of a long-term horizon.” He thinks that one of them is that the housing markets in the most important second-tier cities are by and large quite healthy. He does not see that a hard landing will happen. He is also of the view that room for increasing private consumption is considerable and he is expecting more policy initiatives in this regard.
 
However, in view of China’s current economic status, Mr. Chan said, “While numerating some of the recent positive developments, let no one underestimate the immediate difficulties facing the economy.” According to Mr. Chan, China’s economy “will muddle through for the next several years.”
 
In view of the bear market ahead, Mr. Chan reiterates his confidence in facing the adverse environment, just as the Companies have thrived during numerous crises of the past, avoiding danger and taking advantage of the market volatility each time. He said, “Our preparation for the bear market was not limited to the area of finance. As the market is stalling, we undertook many asset enhancement initiatives – first in Hong Kong and now in Shanghai. A tough trading environment should be used for property upgrades. This will position us well for the next growth cycle.”
 
Mr. Chan also reveals details of Hang Lung’s EST (Experience, Service and Technology) initiatives. This is another critical area that the Companies will attempt to build up during the slow market, which will see the addition of B2C (Business-to-Consumer) elements to the established B2B (Business-to-Business) model, preparing the ground for more direct interaction with customers. Mr. Chan invites readers to be creative and to write to him via email with any ideas for the deployment of such technology-enabled services. 
 
The FY2015 Annual Reports are now available for downloading from the Hang Lung corporate website at www.hanglung.com.
 
Hang Lung Group
http://www.hanglung.com/HLGAnnualReport2015/index.html
 
Hang Lung Properties
http://www.hanglung.com/HLPAnnualReport2015/index.html