Deep Market Penetration and Expertise to Accelerate Hsin Chong’s Business Development in China.
Tewoo Group, a Fortune Global 500 company, and a leading conglomerate with core businesses in commodity trading, real estate development, logistics and financial services has increased its ownership in Hsin Chong to a total of 513,861,240 shares (approximately 17.98% of the total shares outstanding), making it the Company’s single largest shareholder by holding (i) 375,921,240 shares through Riant Investment and (ii) 137,940,000 shares through Tewoo Investment,
In 2013,The Tewoo Group recorded sales revenue of RMB337.9 billion. Through Tewoo Property Development Co. Ltd, the group’s major real estate business arm, Tewoo has built a strong foothold in real estate development and property management in recent years.
Tewoo Group said of Hsin Chong,
“We have been impressed by Hsin Chong’s business performance and continuous ability to create value for shareholders, while delivering world-class standards of service to its customers. We are confident that the partnership will create great dynamic forces to bring about strategic benefits to both the business and the team.”
Hsin Chong Construction Group is a full-fledged provider of construction, property and related services. Its scope of services has grown to cover the entire spectrum of building construction, civil engineering, electrical and mechanical engineering, project and construction management, interiors and special projects, property development, railway systems and asset management services. . Hsin Chong has since 2011 been increasing its exposure to property development and investment on the Mainland.