Hengdeli Holdings Limited - The Standard Finance

Chairman’s Statement
international brand suppliers. In addition, the successful
commencement of the ancillary production business and
accessories business deriving from the industry offered
an effective and sustainable support to the development
of its principal business.
The Group continued to maintain a close relationship with
various international brand suppliers. During the Year, the
Group renewed its strategic cooperation agreement with
LVMH’s jewelry and watch division, under which both
groups undertook to strengthen their cooperation in the
Greater China region and in many other places around the
world. During the Year, the Group obtained an exclusive
distribution right of SWATCH Group’s well-known brand
Mido in Mainland China, while the relationship between the
Group and SWATCH Group in terms of capital connection
was further consolidated and developed.
Although the global economy scene will remain unstable
in 2010, it is quite apparent that the Chinese economy
has picked up. Maintenance of economic stability and
the achievement of relatively rapid growth will continue
to underpin Chinese economic priorities in 2010. One of
the focuses is to boost domestic demand, in particular to
stimulate consumption demand, as an effective means to
sustain economic growth. As such, China will remain one
of the most promising markets around the globe, which
serves as a fundamental base for the Group’s business
development.
With international renowned watches as the core focus,
delivering a portfolio of middle-to-high-end consumer
goods will remain as the business direction for the Group’s
development in 2010. The Group will expand its business
in line with market changes in an aggressive yet prudent
manner. We will work out a long-term plan to persistently
develop and optimize our retail network, consolidate our
diversified brands and product portfolio, improve our
management, enhance our service standards and strive
to develop new portfolios of middle-to-high-end consumer
goods so as to bring return to our shareholders and the
public for their constant support and care to the Group.
“Hengdeli”, a century-old classic trade name, will continue
to flourish under our management.
Despite the influence of the global economic turmoil,
the Group still achieved satisfying results. On behalf of
the Board, I would like to express our sincere gratitude
to our shareholders, suppliers, customers and other
business partners for their ongoing care and support, as
well as to all our staff for their dedicated endeavours and
contributions to the Group during the past year.
By Order of the Board
Zhang Yuping
Chairman
Hong Kong, 30 March 2010
Annual Report 2009 - Hengdeli Holdings Limited