The Group aggressively marketed its products by participating in various international and local pearl and jewellery trade shows promoting its pearl and non-pearl jewellery carrying its own brand names.
As for the development of the China Pearls and Jewellery City Holdings Limited (“CP&J City”), which has become a 55% owned new subsidiary and another core business of the Group since April 2007, many purchasers signed contracts for preferred units during the period.
With market response to the CP&J City Project meeting expectation, the Group is positive about the contribution of the CP&J City Project to its overall results in the future.
Construction of the CP&J City Project has been on schedule and part of phase one of it is expected to be completed by March 2008. CP&J City's aim is to serve as a global trading platform for different parties in the pearl and jewellery industry.
Mr. Cheng Chung Hing, Chairman of Man Sang, said, “We are pleased that the Group achieved satisfactory results for the first nine months of the fiscal year.
Looking forward, though facing a fluctuating global economy, we expect our Pearl and Jewellery segment to maintain steady growth and our business to flourish overall next year.
We will expand our customer network globally aiming for especially increment in markets with high growth potential and continue to keep production cost under control.
“The CP&J City Project is regardedas a major project by the Zhejiang provincial and Zhuji municipal governments. The Group is organizing the grand opening of the CP&J City project in April 2008, which will coincide with the major pearl trade events namely the “China (International) Pearl Festival and “Xishi Cultural Festival”, aiming to promote business activities and cultural exchange among pearl traders worldwide.
We expect investors to be impressed by the gigantic scale and world-class supporting facilities of the CP&J City project as a major gateway to global pearl and jewellery market."