HONG KONG — 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.”