SZITIC Commercial Property Development Co., Ltd.
SZITIC Commercial Property Development Co., Ltd. (SZITIC-CP) is a commercial property development and management company founded in 2003. It builds and offers shopping center properties for Wal-Mart to facilitate Wal-Mart s nationwide expansions. SZITIC-CP is an important investment company which we give preferential support to. Capitalizing on the advantage of a long-term sound shareholding relationship between our company and Wal-Mart SZITIC Department Store Co., Ltd., SZITIC-CP actively facilitated Wal-Mart s development in China by building shopping centers for it nationwide.

In 2005 SZITIC-CP developed its business rapidly. It had chosen 69 sites for building shopping centers which Wal-Mart had already confirmed. In 2005 SZITIC-CP started the construction of 14 new projects, and there were in total 21 projects under construction. SZITIC Commercial Centers in Bao an, Chongqing, Changsha, Wuhu, Weifang and Sam s Club in Shenzhen had been built and opened in last two years. SZITIC-CP increased its cooperation with multinational corporations through the successful transfer of interest in 19 projects under development. It sold 65% of 14 ongoing projects stake to CapitaLand, and 65% of 5 ongoing projects’ stake to Morgan Stanley and Simon Property. As a result of this, it recouped a large number of previous incurred funds for construction and effectively avoided risks. Furthermore, it maintained stamina for development.

Owing to the close cooperation with Wal-Mart, CapitaLand, Morgan Stanley, Simon Property, TimeWarner, Prologis and so forth, and the advantages of its shareholders and business partners, SZITIC-CP had formed a special business model. This model is a combination of commercial property development with financial investment and shopping mall management. This business model can t be easily copied or imitated by other commercial property developers. It is SZITIC-CP s unique competitive advantage. It has provided a steady foundation for the sustainable and healthy development of our commercial property development business. SZITIC-CP expands our business scope from Shenzhen to the whole country and extends the influence of the brand name “SZITIC”.