[ET Net News Agency, 31 July 2015] Golden Wheel Tiandi (01232) said it expects to
record a substantial decrease of more than 50% in its total revenue for the six months
ended 30 June 2015 as compared to the corresponding period of 2014.
The decrease in total revenue is mainly attributed to the decrease in revenue from
property development. Revenue from property leasing is expected to be similar to the
corresponding period of 2014. The company expects to record a significant increase of more
than 50% in the fair value gain of the Group's investment properties as compared to the
corresponding period of 2014. As a result of these combined effects, the profit
attributable to owners for the reporting period is expected to be comparable with the
corresponding period of 2014. Its interim results announcement is expected to be released
next month.
Besides, Golden Wheel Tiandi is in the process of appointing professional advisers to
advise on the process of applying for a potential quotation and open transfer of the
shares of Nanjing Golden Wheel Business Management Company Limited on the National
Equities Exchange and Quotations System in the PRC. Nanjing GW Management is indirectly
100% held by Golden Wheel Tiandi and is principally engaged in the leasing and operational
property management in the PRC. Nanjing GW Management is currently operating leasing and
operational management business in 14 metro stations in four cities namely Nanjing, Wuxi,
Suzhou and Changsha in the PRC. The potential quotation is at a preliminary discussion
stage and there is presently no specific implementation schedule. (HL)