Thoughout the crisis, the Group kept its discipline to manage the business prudently and delivered continuous growth. In line with the recovery of the global economy and strong rebound of the PRC economic growth, the business and financial performance of the Group continued to improve last year. Same Store Sales ("SSS") growth last year rebounded strongly across all our stores in different regions. We are particularly encouraged with the performance of stores that have completed its revamp and remodeling program in the past 2 years. Before I go any further, on behalf of the Board of Directors, I want to take this opportunity to thank the management and the workforce for their hard work, dedication and sacrifices that help the Group to sail through the crisis smoothly.

Looking ahead, the economic and financial indicators seem to suggest that the continuous recovery of world economy has taken hold, while in the short term, risks and uncertainties remain. Being the second largest economy in the world and with comparatively much healthier economic structure, the Group firmly believes that PRC economy will lead the world economic growth in the foreseeable future.

While the Group will continue to improve productivity of its existing operation, the major initiative in the next 3 years is to accelerate the Group’s expansion plan to capitalise on the booming domestic consumption market in PRC. We will stay focus in the retail sector and diligently execute our refined expansion plan to enhance and maximise returns to our shareholders.

Lastly, on behalf of the Board, I would like to express my heartiest gratitude and sincere appreciation to all the stakeholders, including our employees, shareholders, lenders, suppliers and business associates for their contribution and continuous support to the Group.