Our Group, Poly (Hong Kong) is a subsidiary of China Poly Group and is the sole property flagship listed overseas of our parent company, China Poly Group, a large-scale central enterprise under the supervision of the State-owned Assets Supervision and Management Commission of the State Council of PRC. For the past 20 years, China Poly Group has been engaging in the development of mainland property business and currently possesses projects-in-progress and land banks with total planned GFA of more than 30 million square meters. Its business operations spread over 20 major cities throughout China and it enjoys high reputation and creditability.
In 2005, Poly (Hong Kong) Investments Limited was renamed and subsequently, we confirmed a clear objective to focus our future development on property development and property investment in China. Through acquiring Shanghai Poly Realty Company in 2006, we have been rapidly expanded our property portfolio in mainland China as well as a team of management professionals.
In April 2008, China Poly Group has completed assets injection to our Group and we have obtained property projects in-progress and land reserves of a total GFA of more than 4,000,000 square meters. The injection, which promptly expanded the scale of our business to 12 cities in China, included Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Chongqing, Guiyang, Nanning, Kunming, Haerbin and Jinan and Huizhou, and strengthened the competitiveness of our Group. More importantly, the injection signifies our parent company’s full confidence in the Group’s engagement in property development as its principal business.
Through a series of substantial acquisitions and business restructuring, our Group has already formed a solid business framework focusing on real estate development, property investment and property management. Our Group target to become one of the top tier real estate companies in China.