NO.153

“Two Conferences”of Wuxi Commercial Mansion Group Opened, Business Income in 2009 Topped 5.5 Billion Yuan
ReleaseDate: 2010-01-01

The business income of Wuxi Commercial Mansion Group in 2009 will record new satisfying results: According to relevant data, the business income of Wuxi Commercial Mansion Group in 2009 topped 5.5 billion yuan, with total profit reaching up to 280 million yuan, and whole year tax revenue of about 260 million yuan.

The above news was obtained by the reporter of this article from the Economic Work Conference for 2010 and the fifth session of the Fourth Staff Representative Conference of Wuxi Commercial Mansion Group Co., Ltd between December 22 and 23. JuneYao Group Chairman Wang Junjin paid a special visit to Wuxi to attend the meetings.

The Conference first listened to the duty reports and communications of the chiefs of all departments of the Mansion Group, and reviewed the overall operation conditions of Wuxi Commercial Mansion in 2009: The “yardstick” brand system unique to “Grand Orient” Department Store has been established, a brand highland with distinct style has been set up. With the implementation of a series of forward-looking supporting facilities, in 2009, the growth rate of unit price per customer of the “Grand Orient” reached 53.44%, the customer satisfaction degree topped 95%. The resources of both “Orient Auto” and “New Epoch Auto” brands underwent effective integration, automobile sales recorded the best performance in history, the profit level was also expected to experience significant increase. Furthermore, after integration and expansion, the sales of food and household appliances have also acquired effective management and sales model with unique features. Up till now the “Orient Household Electronics” still maintained the feature of “store with best performance” in the household appliance operation industry in Wuxi.

Furthermore, under the operation of multiple strategy methods, the asset resources and their quality of the Commercial Mansion Group have experienced significant enhancement in 2009, which fulfilled the target of “stressing performance, safeguarding growth, and enhancing earnings per share of the listed company” as expected.

At the meeting, Pan Xiaoyan, the Secretary of the Party Committee and the General Manager of Commercial Mansion Group made a detailed analysis on the surrounding markets, Wuxi markets and the situation of the Mansion Group in 2009, and provided comprehensive deployment of all tasks and measures in 2010. Pan Xiaoyan pointed out that: “The year of 2009 marks a year of fresh start for the Mansion Group to start a new chapter after undergoing three years of initiatives in upgrading and adjustment, optimization and integration, a year of turning point for us to embark on a new journey, and also a year of tempering for us to receive the baptism of the market. In the face of a series of difficulties and opportunities in the upcoming 2010, we must conduct overall analysis, make decisive decisions, and calmly meet the challenges.”

The Conference unanimously approved the work report made by General Manager Pan Xiaoyan, and the “Report on Financial Conditions” made by the Director of Finance Zhao Jiazeng, signed “Salary Collective Agreement”, and held the signing ceremony for “Corporate Safe Production Responsibility Statement”.