Business Daily Media

Men's Weekly

.

China Goldjoy Increases Shareholding in LID, Underscoring Optimism in Its Prospects

  • Written by ACN Newswire
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[1]

Topic: Press release summarySectors: Daily Finance, Daily News[2][3] http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

  1. ^ www.hk1282.com (www.hk1282.com)
  2. ^ Daily Finance (www.acnnewswire.com)
  3. ^ Daily News (www.acnnewswire.com)

Read more http://www.acnnewswire.com/press-release/english/41790/

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

The cost of ignoring AI governance in business

Artificial intelligence (AI) is no longer the promise of a distant future: it's active, embedded, and already shaping decisions across industries. H...

Quickli launches new SMSF product as free beta for limited time only

The leading technology provider for Australian mortgage brokers, Quickli, has answered the prayers of brokers yet again with the launch of a stand...

Portable Monitors for Coding and Programming Students

Today, coding and programming require more focus and efficiency. But, the most essential thing it demands is ample screen space. Students can stru...

Sell by LayBy