The property development segment involves the development of property, the management and rental of units/shops within a shopping arcade and residential units, and the sales of residential units in the PRC.
In view of restrictions imposed on property projects in Mainland China, the Group will prepare appropriate entry and exit strategies in the interest of the Company and its shareholders as a whole. As for projects that underperform our expectations, we will elect to exit when timing is right. Furthermore, we will continue to explore other property development opportunities to expand our investment property portfolio and consolidate our revenue base, safeguarding the potential of capital appreciation for the Group. Acquisition of investment properties in Huangshan District was one of our important steps to strengthen our income base from property development segment.