According to Zhitong Finance App, Hangang Holdings (01663) announced that the company's subsidiary Hangzhou Hangang Commercial Management Co., Ltd. (Hangang Commercial Management) was awarded the “Outstanding Commercial Real Estate Enterprise of the Year” by the conference at the “13th China Business Network Annual Meeting” held on December 15, 2023.

The China Business Network Annual Conference is hosted by China Business Network and co-organized by the China Business Club. China Business Network is China's leading commercial real estate platform, and the annual China Business Network Annual Conference is also an important venue for high-end industry forums, displays in the field of innovation, and communication between commercial real estate people. With the theme of “Recovery and Opportunity”, the annual conference gathered important guests from the entire commercial real estate industry chain, including commercial complexes, brands, and commercial service providers, to share cutting-edge research, practical cases and innovative ideas, and discuss new ways to play business.

Hangang Commercial Management was honored at this important event in the industry. On the one hand, it encouraged the entire operation team of the company, and on the other hand, it also represented Hangang Commercial Management's operating projects, and its business development strategy and growth performance were highly recognized by the industry. This award lays a strong impetus for the future development of business management in Hong Kong and Han, so that it can more firmly follow its affirmed development path in the future.

Adhering to the Group's diversified business development strategy, the Group also reached an equity subscription agreement with a well-known domestic Western restaurant group (target group) earlier. The group purchased 4.76% of the target group's shares in consideration of RMB 3 million.

Biao Group is a Mexican restaurant group in Beijing. With its unique dishes, Biao Dai Group is leading the booming development of Mexican cuisine in the Beijing market through continuous research and development of trendy new products, so that the products themselves have social media communication attributes. The target group has been developing for 11 years and has opened five stores in Beijing so far. The target group has received many awards. It was on the “2023 Popular Diandian Must-Eat List” for the fourth time in 2023, and also won the championship in the “2023 the Beijinger Burger Cup” list.

The target group plans to expand in cities outside of Beijing for the first time in 2024 and will establish a partnership with a leading retail and technology company in the first half of this year.

In addition, Hangzhou Gangyu Enterprise Management Co., Ltd. (Hangzhou Gangyu), a wholly-owned subsidiary of Hangang Commercial Management, and Greentown Property Service Group Co., Ltd. (Greentown Service) signed a commercial space cooperation contract (commercial space cooperation contract, also known as the “project”) in December 2022. The property under the commercial space cooperation contract is expected to be delivered in June 2024. At present, Hangzhou Gangyu has carried out pre-investment promotion work, and the progress is good. Among the brands that have signed contracts include major well-known brands such as McDonald's (McDonald's), KFC (KFC), Starbucks (Starbucks), FamilyMart (FamilyMart), and Lawson (Lawson).

The project highlights the development value of the project regardless of hardware quality, future development plans for nearby regions, demand from nearby consumers, rent levels of nearby stores, and potential future increases. With a strategic position to build a “small but beautiful” high-quality commercial property project, while establishing that the company can obtain long-term stable rental returns, it can also enhance its brand awareness in Zhejiang Province.