NO.161

“Grand Orient” Semi-annual Report Recorded Excellent Performance
ReleaseDate: 2010-09-01
“Striving to maximize shareholder revenue”, this commitment of listed company “Grand Orient” is being continually honored in reality. On August the 18th, the “2010 Semi-annual Report” released by Wuxi Commercial Mansion Grand Orient Co., Ltd. once again reflected this uncompromised corporate credibility.

In this Semi-annual Report, a series of financial data showed one after another outstanding performance results: By the end of June 2010, compared with the same period in the previous year, the total asset owned by the “Grand Orient” increased by 9% to more than 2.8 billion yuan, meanwhile shareholder equity grew by 10.93%, the “Grand Orient” now has more substantial strength; in the first half of 2010, the combined income of all business sectors including general merchandise retailing, auto sales, catering and food operation was 3.029 billion yuan, up by 12.58% compared with that in the same period in last year, the net profit was 151.48 million yuan, up by 35% over that in the same period last year, accordingly the net profit belonging to shareholder of the listed company also grew by 33.04%, the “Grand Orient” continually created greater benefits for its shareholders.

The Semi-annual Report said: Dedicated to building up a century-old enterprise, the “Grand Orient”,on the one hand actively carried out various marketing activities, strengthened brand promotion, properly enhanced internal environment and quality of service contents, and created comfortable and pleasant shopping environment; on the other hand it continually improved diversified operation strategy, further straightened out the Company’s diversified operation structure, clarified the three main lines of “Grand Orient” General Merchandise, auto sales, “Sanfeng” large food operation, deepened the operation support of Oriental Electrical Appliance Chain, and Baiye Supermarket chain toward the general merchandise chain strategy of the Grand Orient, and fully enhanced the company’s development momentum. Meanwhile, the construction of Wuxi New Orient Auto City project kicked off in the first half of the year was now in full swing. All these facts indicate that the “Grand Orient” enjoys vast growth potential and very bright future.