Shandong Retail Leader Ginza Shares Quancheng Shopping Plaza Shop Continued For 15 Years, 30 Thousand Flat Rent Is Only 390 Million

The Ginza group Limited by Share Ltd (hereinafter referred to as "Ginza shares") announced in the evening of August 7th that the company had signed the relevant agreement with the property owner Ji'nan City Construction Investment Co., Ltd. (hereinafter referred to as "Ji'nan city investment") for the business premises of the Quancheng Shopping Plaza Shop. It inherited the lease of its underground commercial building located in Quancheng Square, Ji'nan City, Shandong province (hereinafter referred to as "housing").


Since the lease is about to expire, the company intends to continue the lease of the house for 15 years, and has been used for commercial operation since January 1, 2020 until December 31, 2034. The total amount of the transaction is 390 million yuan. The rental housing is located in the underground commercial building of Quancheng Square, Ji'nan City, Shandong province. The lease scope is the commercial area of the underground building except garage, garage and garage management room, lotus fountain control room and some public service facilities. The north moat, the south to the Yuan Yuan Street, the west to the sinking square, the east to the cultural corridor, the total construction area is 31696.97 square meters (including the cultural corridor, the underground building part area 700 square meters).


Ji'nan city voted to allow the sinking of the open plaza to be managed and used by the company without any additional rent.


Public information shows that Ginza shares are large chain businesses based on commercial retail. The commercial retail formats mainly include department stores, large supermarkets and shopping centers. The Department Store accounts for nearly 2/3, and the company's main business is concentrated in Shandong Province, accounting for about 95%. The company implemented the strategy of "department store + store" in the province, which covered most cities in the province. By the end of 3 2019, the company had 133 stores (including 26 stores in Huaxing mall, Linqu, Weifang), covering 12 cities in Shandong and 3 cities in Hebei, Shijiazhuang, Baoding and Zhangjiakou. In addition, the company is entrusted with the management of 49 non listed stores in Limited by Share Ltd mall in Shandong.


According to the insiders, due to the fierce competition in Shandong's retail market, many large retail enterprises such as Liqun, Jia Jia Yue and so on have strong management capabilities, and the market share of the company is hardly promoted in the short term.


According to the financial report, in 2018, Ginza shares realized business income of 13 billion 200 million yuan, an increase of 1.81% compared with the same period last year. The net profit attributable to shareholders of listed companies was 46 million 270 thousand yuan, down 5.82% compared to the same period last year. In the first quarter of 2019, Ginza shares realized 3 billion 612 million yuan, down 5.33% compared to the same period last year, and the net profit attributable to shareholders of listed companies was 69 million 529 thousand and 600 yuan, up 6.45% over the same period last year.