(Hong Kong, March 21, 2018) Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today published their Annual Reports themed “Strong Roots for Growth” for the Financial Year 2017.
Upholding the highest level of transparency in corporate governance, Chairman of Hang Lung Group and Hang Lung Properties, Mr. Ronnie C. Chan, once again pens his Letters to Shareholders in this year’s Annual Reports, a practice he has maintained for the past 28 years. In this year’s Letters, Mr. Chan analyzes in detail how the rise of the middle class and private consumption in mainland China have boosted its economy and become among the country’s most important economic pillars. Both have helped the economy to recover after the six-year winter. He believes that the asset enhancement initiatives coupled with the completion of new developments will significantly enlarge and improve Hang Lung’s investment portfolio on the Mainland and drive another growth phase. Mr. Chan also examines the global market conditions from multiple perspectives and reminds the market to be alert to the possibility of another global financial crisis.
Land policy and residential prices continue to be hot topics for the public in Hong Kong. Mr. Chan is confident that once land supply is back to a more reasonable level, land prices should moderate and residential price rises will one day slow down. Mr. Chan also supports land reclamation as one means to create more supply. He points out that in parts of Kowloon and especially on the east and west sides of the New Territories, much can be done without destroying the natural landscape.
Mr. Chan emphasizes the importance of maintaining Hang Lung’s transparency and accountability to shareholders. That is the reason why he pens the Letters to Shareholders twice a year to put forward the management’s key thinking and actions. He also covers topics that are of significance to Hang Lung’s business and comments on national and regional developments.
Hang Lung Group
http://www.hanglung.com/HLGAnnualReport2017/
Hang Lung Properties
http://www.hanglung.com/HLPAnnualReport2017/
