[November 1, 2000, Hong Kong] - Hopson Development Holdings Limited ("Hopson Development" or the "Company", together with its subsidiaries, the "Group"; stock code: 754) is pleased to announce that the Group has signed a long-term supply contract with Guangzhou Hitachi Lift Company Limited ("Guangzhou Hitachi") to purchase a total of 457 lifts.
Other than the supply contract of 468 lifts signed with Guanzhou Hitachi in September 1998, this new supply contract is one of the largest lift bulk purchase agreement ever signed in the PRC. It ranks top in the lift industry in terms of number of lifts, transaction amount, service terms and the advanced state of the products.
Guangzhou Hitachi is the largest lift manufacturer in Southern China. Leveraging on its state-of-the-art technique, Guangzhou Hitachi commands a leader status among industry players. It possesses ISO9001 quality accreditation and ISO14001 environmental protection accreditation. On top of this, it was also granted the "National Consumers Satisfaction Award". It is the only lift manufacturer which was granted this award.
Commenting on the cooperation with Guangzhou Hitachi, Mr Stones Tse, Managing Director of Hopson Development, said, "Hopson Development is one of the largest property developers in Guangzhou. Ever since our listing in 1998, the Company has continued to develop on a very solid basis. This is the second time we cooperate with Guangzhou Hitachi. We feel very happy to cooperate again with the largest lift manufacturer in Southern China and it also proves that Guangzhou Hitachi is able to satisfy our stringent demand concerning product technology, quality and services. We also enjoy the advantages of economies of scale.
"The contract we signed can fulfill the demand created by the Company's developments in the next couple of years. Projects we are currently developing include Second Phase of Regal Court, Huajing New City 6C and Fairview Garden Phase Three. All the construction works are in smooth progress. Riverside New City, Huanan New City, along with Pleasant View Garden, are all in active preparatory stage. 'Impeccable realization of living quality' has always been Hopson Development's principle. In the future, the Group will focus on developing more quality large-scale projects with clubhouses, shopping centers and other complementary facilities. We are committed to enhancing our competitiveness and solidify our position as the leader of Guangzhou property development."
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