Business-Ningbo PDF

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Business-Ningbo PDF

所有权归 Ningbo Kaihui US Electronics Industry Co., Ltd 所有
Business Plan:
Global Financial Information Plaza
Ningbo, China
Landmark Architecture of Zhejiang Province
2007.11
Address：
：No.7 Bridge, Ningchuan Road, Ningbo City, China
P.C：
：315040
Tel: 86-574-87922711
Fax: 86-574-87931237
Contact Person：
：Charles Dong
Email: [email protected]
Consultant：上市与私募助理(PPAssociates.com.cn)
机密性与专利性 2007
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Confidentiality Statement
All information and materials contained in this statement belong to Ningbo Kaihui US
electronics Industry Limited Company and are highly confidential. They must be
maintained in a confidential manner at all times.
As the reader intended and approved by the company you are required to maintain this
information in a confidential manner. The unauthorized reproduction, modification,
deletion, disclosure or distribution of this document, in part or/and whole, is strictly
prohibited.
The Ningbo Kaihui US electron Industry Limited Company has the sole right for the
interpretation of any information and materials contained in this document.
Accepter Name____________________________________(Print)
Signature_________________________________________
Date______________________________________________
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Table of Contents
ARCHITECTURAL RENDERING SAMPLES ..................................................................................0
Sample 1...........................................................................................................................................0
Sample 2...........................................................................................................................................1
Sample 3...........................................................................................................................................1
Sample 4...........................................................................................................................................2
Sample 5...........................................................................................................................................2
Sample 6...........................................................................................................................................3
Sample 7...........................................................................................................................................3
Sample 8...........................................................................................................................................4
Sample 9...........................................................................................................................................4
Sample 10.........................................................................................................................................5
EXECUTIVE SUMMARY ..................................................................................................................10
Project Summary ............................................................................................................................10
Loan Summary ............................................................................................................................... 11
1.
3.
4.
COMPANY INTRODUCTION....................................................................................................14
1.1
Brief.....................................................................................................................................14
1.2
Shareholders........................................................................................................................14
2.
Project Introduction ..............................................................................................................15
2.1
Landmark Architecture........................................................................................................15
2.2
Project Location..................................................................................................................15
2.3
Project Description .............................................................................................................16
2.4
Building Types .....................................................................................................................16
2.5
Project Schedule Summary..................................................................................................17
2.5.1
Construction Schedule......................................................................................................17
2.5.2
Sales Plan.........................................................................................................................17
2.5.3
Loan and Usage Plan.......................................................................................................17
CONSTRUCTION LAND ............................................................................................................18
3.1
Geographic Location...........................................................................................................18
3.2
Land Description.................................................................................................................24
3.3
Land Purchase.....................................................................................................................24
3.4
Land Appraisal....................................................................................................................25
3.5
Land Construction Permit...................................................................................................25
CONSTRUCTION PLAN.............................................................................................................25
4.1
4.1.1.
4.2
Overall Layout ....................................................................................................................25
Building Room Types.......................................................................................................26
Building Description ...........................................................................................................26
4.2.1
Super Five-Star Hotel.......................................................................................................26
4.2.2
5A Office Building ............................................................................................................26
4.2.3
Luxury Condo Apartment .................................................................................................27
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4.2.4
5.
6
7
Skirt Retail and Shop Spaces............................................................................................27
4.3
Structural and Engineering Description .............................................................................28
4.4
Architectural Style ...............................................................................................................28
4.5
Green Space and Environment Protection ..........................................................................29
OPERATION PLAN .....................................................................................................................29
5.1
Preparation .........................................................................................................................29
5.2
Table of Schedule ................................................................................................................29
MARKET ANALYSIS..................................................................................................................32
6.1
General Information............................................................................................................32
6.2
Introduction of Zhejiang Province.......................................................................................32
6.3
Introduction of Ningbo City ................................................................................................33
6.4
New Eastern Metro..............................................................................................................34
6.5
Real Estate Market of Ningbo .............................................................................................37
6.5.1
Brief..................................................................................................................................37
6.5.2
Hotel.................................................................................................................................38
6.5.3
Office................................................................................................................................39
6.5.4
Condo Apartment .............................................................................................................40
6.5.5
Retail Space......................................................................................................................40
MARKET COMPETITION ........................................................................................................41
7.1
Brief.....................................................................................................................................41
7.2
Competitor analysis ............................................................................................................41
7.2.1
Eastern Port Portman Plaza Hotel Ningbo......................................................................41
7.2.2
Nanyuan Hotel .................................................................................................................42
7.2.3
Nanyuan International Grand Hotel ................................................................................42
7.2.4
Shangri-La........................................................................................................................42
7.3 Potential Compatitor Analysis .................................................................................................42
7.3.1 Ningbo Grand Radisson Hotel ..............................................................................................43
7.4
8.
9.
SWOT Analysis of Global Finace Information Plaza..........................................................43
MARKETING PLAN....................................................................................................................45
8.1
Positioning and Marketing Theme ......................................................................................45
8.2
Target Customers.................................................................................................................45
8.3
Products and Prices...........................................................................................................46
8.4
Marketing Plan....................................................................................................................46
PROJECT ORGANIZATION....................................................................................................52
9.1
Organizational Structure .....................................................................................................52
9.2
Developer ............................................................................................................................52
NingBo Kaihui US electronics Industry Limited Company:...........................................................52
9.3
Architectural Designer ........................................................................................................53
Shanghai Institute of Architectural Design & Research Co．，Ltd: ..............................................53
9.4
Construction Company........................................................................................................53
WUYANG Construction Group Co., Ltd. .......................................................................................53
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9.5
Sales and Marketing Company............................................................................................54
DTZ Hangzhou Branch ..................................................................................................................54
10
11.
COMPANY ORGANIZATION .................................................................................................56
10.1
Organization Chart ...........................................................................................................56
10.2
Function of Each Department ...........................................................................................56
10. 3
Management Team..........................................................................................................58
FINANCIAL PLAN .....................................................................................................................60
11．1
11.2
12
13
Key Assumptions.............................................................................................................60
Financial projection ..........................................................................................................60
11.2.1
Earnings Projection........................................................................................................61
11.2.2
Expenditure Projection ..................................................................................................61
11.2.3
Financing Plan ...............................................................................................................63
11.2.4
Assets Projection ............................................................................................................63
LOAN RAISING PLAN.............................................................................................................64
12.1
Loan ..................................................................................................................................64
12.2
Repayment.........................................................................................................................64
12.3
Loan Usage .......................................................................................................................64
RISKS ..........................................................................................................................................65
13.1
Risks from government policy .........................................................................................65
13.2
Risks from competitors ....................................................................................................65
13.3
Risks from market............................................................................................................65
13.4
Risks from management...................................................................................................65
Appendix 1
Architectural Renderings .........................................................................................66
Appendix 2：Financial Projections (2008-2012) ..........................................................................66
Appendix 3：Land Property User Certificate................................................................................66
Appendix 4：Land Appraisal Report .............................................................................................66
Appendix 5：Architectural Designer .............................................................................................66
Appendix 6：Construction Constructor.........................................................................................66
Appendix 7：Sales Company.........................................................................................................66
Appendix 8：Marketing Consultant...............................................................................................66
Appendix 9：Finacial Pro Forma Data.........................................................................................66
Appendix 10：Brief intro of Zhejiang Province.............................................................................66
Appendix 11：Brief intro of NingBo City.......................................................................................66
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Executive Summary
Project Summary
The Global Financial Information Plaza is a planned $267M
project featuring a 227 meter high triplet tower complex,
consisting a 69-story five-star hotel, a 44-story office building
and a 4-story condominium apartment building. A 3-level a skirt
building connects the three building. The skirt building will be
used as commercial shopping mall and entertainment spaces.
This tower complex will be located in Ningbo City, Zhengjiang
Province and designed as the landmark architect in the province.
This project is consist with the city’s New East Metro Plan in
which Nignbo City shifts its center eastwards to the New Eastern
Metro.
The scheduled construction period is three and half years starting
in January. 2008 and ending in 2011. The sale will end in 2012.
The total projected sales revenue is in excess of $762million.
The developer of this project is seeking a construction loan in the amount
of $75 million with 7.5% annual interest. The loan period is five years
from Jan. 2008 to 2012 The repayment of the loan start in January .1,
2012, in two consecutive payments every year (1 year = 365days), end in
January. 1, 2013. Each payment is 50% of the total loan amount.
Load interest will be paid at the first day each year staring from the forth
year (1 year = 365days) and ending December, 2004.
The total land size of the project is 92187.5 M2. 19028.4M2 of
which has been granted by the Ningbo City government for
construction. The rest of the land is in the process of obtaining g
permit for purchasing. The above mentioned loan will be used
entirely for this land purchase.
The total construction area is 295,000.00m2 including the
followings.
Hotel:
100,000.00 M2
Condo
61,000.00 M2
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Office
61,000.00 M2
Skirt Retail
55,000.00 M2
Underground basement (2 levels) 18,000.00M2.
Investment Attraction:
Landmark architect in Zhejiang Province for next a few
decades.
First multifunctional complex of its kind in the city with
5-star hotel, high end office building and luxurious condo
apartments as well as commercial center spaces together.
Abundant customer source: closely neighbored with the
Ningbo International Expo- Convention Center. Ningbo is
ranked forth in holding exhibitions and conventions in
China, after Beijing, Shanghai and Guangzhou.
Fast turnover of the investment with relative short project
period.
Excellent port city Ningbo is the second largest port in
China, next to Shanghai port.
Fast economic development in Zhejiang Province,
especially in Ningbo City.
Less potential competition：Land property is limited in this
area and there would unlikely be such a large land for this
kind project in near future.
Loan Summary
Loan amount:
$120M construction loan from local bank in China.
$75M construction loan from oversea investors
Loan Usage:
The $75M loan will entirely be used to purchase the additional land
from Ningbo City Government.
Loan repayment:
Repayments will start at the first day of the year after the
forth year (1 year = 365days) in two consecutive payments
of 50 % loan amount each.
Interests payments:
The annual interest rate is 7.5 %. Payments start at the first
day after the third year (1 year=365days) in two
consecutive years.
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Alternative method:
At the end of the third year the overseas investor will have
to decide if their loan will be converted to 30% of the
equity. There will be no interest in converted.
Company board voting right :
None
Financing Plan
Total
2008
2009
2010
2011
2012
Loan
200,000.00
200,000.00
0.00
0.00
0.00
0.00
Repayment
200,000.00
0.00
0.00
0.00
100,000.00
100,000.00
Investor’s Loan
75,000.00
0.00
0.00
0.00
37,500.00
37,500.00
Local Bank Loan
125,000.00
0.00
0.00
0.00
62,500.00
62,500.00
Interest
52,500.00
0.00
0.00
0.00
45,000.00
7,500.00
75,431.10
51,459.07
74,283.33
84,269.87
159538.90
Financing
($'000)
Cash Flow
after Repay
Operation Plan
Operation Plan (USD$'000)
Total
2008
2009
2020
2011
2012
Capital Expenditure(CapEx)
258,667.94
127590.55
75,568.55
49,477.90
6,060.94
0.00
Land Purchase Expenditure
110,625.00
16,965.55
0.00
0.00
0.00
0.00
Construction Expens
148,072.94
16,965.55
75,568.55
49,477.90
6,060.94
0.00
Operational Expenditure(OpEx)
12,483.29
397.80
1,439.04
3,141.12
3,659.76
3,845.57
Total
271,181.23
127,988.35
77,077.59
52,619.02
9,720.70
3,845.57
Sales & Revenue Plan
Sales & Revenue Plan
(USD $’000)
Total
2008
2009
2010
2011
2012
Revenue
762,870.91
0.00
42,209.29
225,629.47
321,610.65
173,421.50
EBITDA
700,801.01
38,026.65
207,822.44
297,046.20
EBIT
694,878.09
(397.80)
38,026.65
207,822.44
297,046.20
155,342.07
Net Profit
411,730.53
(397.80)
24,477.85
139,241.03
168,870.95
99,054.19
(397.80)
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Usage of Capital
Usage of capital ($’000)
Total
2008
2009
2010
2011
2012
Construction Loan Investment
200,000.000
200,000.00
0.00
0.00
0.00
0.00
Investor’s Loan
75,000.00
75,000.00
0.00
0.00
0.00
0.00
Local Bank Loan
125,000.00
125,000.00
0.00
0.00
0.00
0.00
Construction Loan Repay
200,000.00
0.00
0.00
0.00
100,000.00
100,000.00
Investor’s Loan
75,000.00
0.00
0.00
0.00
37,500.00
37,500.00
Local Bank Loan
125,000.00
0.00
0.00
0.00
62,500.00
62,500.00
52,500.00
0.00
0.00
45,000.00
7,500.00
0.00
Investor’s Loan
19,687.50
0.00
16,875.00
2,812.50
0.00
Local Bank Loan
32,128.50
0.00
0.00
28,125.00
4,687.50
0.00
Initial shareholder’s investment
0.00
0.00
0.00
0.00
0.00
0.00
258,697.94
127,590.55
75,568.55
49477.90
6,060.94
0.00
Land purchase
110,625.00
110,625.00
0.00
0.00
0.00
0.00
Construction Expenditure
148,072.94
16,965.55
75,568.55
49477.90
6,060.94
0.00
Operational
12,483.29
397.80
1,439.04
3141.12
3,659.76
3,845.57
Interest
0.00
Expenditure(OpEx)
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1.
1.1
Company Introduction
Brief
Global Financial Information Plaza will be developed by the Ningbo
Kaihui Real Estate Development Co., Ltd (Kaihui Real Estate) Ningbo
Kaihui US Electronics Industry Ltd Company (Kaihui US Electronics)
will be the holding company of the Kaihui Real Estate and is a joint
venture company established by both USDK,INC USA and Ningbo
Kaihui Electronics Industry Ltd. Company, China. All necessary
documents have been submitted to the government agencies for approval
and registration process.
1.2
Shareholders
The registered capital of the Kaihui US Electronics will be $ 10 million.
The initial investment of 120 million from both share holders will be used
for the project. investment equity from the both share holders.
Ningbo Kaihui Electronics Industry Ltd. Company will have 40% shares
of the Kaihui US electronics. USDK, INC will have 60% shares of the
Kaihui US electronics.
The Kaihui US electronics Industry Ltd Company will have 100% shares
Ningbo Kaihui Real Estate Development Co., Ltd.
Shareholders
USDK,INC
Ningbo Kaihui Electron
Industry Limited Company
60%
40%
Ningbo Kaihui US electron Industry Limited Company
100%
Ningbo Kaihui Real Estate Development Co., Ltd
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2.
Project Introduction
As part of the new district development planning, the municipal
government of Ningbo City has approved the upgrade of the Ningbo
Kaihui Electronic Industry Co’ s property land to a commercial real estate
land because of its key location in the city planning. This land now is
ready for commercial real estate development.
Ningbo Kaihui Electronics Industry Co. and USDK, Inc. cooperatively
plan to build a 69-floor multifunctional triplet tower building, including a
five-star hotel, a luxury condo-apartment building and a business office
building as well as a skirt-commercial retail space structure. Due to
increasingly high demand for these types of real estate property at this
location, the price and profit of the estate will remain high.
Three essential factors were carefully reviewed and evaluated for this
project
1. Upgrading of the property land to commercial real estate land
increased the land market value.
2. Excellent location of the land is ideal for multifunctional building
construction.
3. High market demands and price of commercial store space, office
space and hotel space.
2.1
Landmark Architecture
This Ningbo Global Financial Information Plaza will be 227 meters
high, the highest building in Zhejiang Province. It is designed as
multifunctional complex tower building structure with the hotel,
office and condo apartments. There will also be a commercial skirt
buildings surround the main tower building. it will be used as
commercial retail, entertainment, restaurant and other leisure spots.
2.2
Project Location
See 3.1 for details
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2.3
Project Description
Zhejiang is a most developed province in China. Ningbo is one of the
most developed cities in Zhejiang. Most of the enterprises are private and
there are more than 30 companies are registered in stock exchanges.
Ningbo is ranked by the Forbes as No. 7 Best Commercial City in China
in 2005.
In 2007 Ningbo City announced its long-anticipated City New District
Development Plan. A New Eastern Metro will be developed in the east
part of Ningbo City. This New Eastern Metro will become the political
and commercial center.
NingBo Global Financial Information Plaza is located in the center area
of the new district. So far there is no such multifunctional 5-star hotel, 5A
office building and luxury condo apartment build in this area
2.4
Building Types
Stories
Lobby Height (m)
Standard
Height(m)
Total Height(m)
Office
44
5
3.3
Condo
44
5
3.3
Hotel
69
5
3.3
Skirt Building
3
6.9
5
Underground Parking
2
4.2
4.5
155
155
227
16.9
9
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2.5
Project Schedule Summary
2.5.1
Construction Schedule
2008
Qtr
1
land
3
preparation
3
2009
2
4
3
1
2010
2
3
4
1
2011
2
3
foundation
2
3
4
1
2
3
4
39
auxiliary
12
management
42
Sales Plan
2008
Qtr
brand
name
Sale intro
main sale
key
customer
tail sale
2.5.3
1
6
main
structure
2.5.2
4
2012
1
2
2009
3
4
1
2010
2
3
4
1
2
2011
3
4
1
2012
2
3
4
1
2
2013
3
4
1
2
48
18
33
36
15
Loan and Usage Plan
Kaihui US electronics will initially invest $120 million for the project.
(Jan. 2008). Meanwhile Kaihui US electronics seeks to raise a 5-year construction
loan in the amount of $75 million. This loan will be entirely used for the purchase
of additional land from the Ningbo City government for the project.
Loan and Usage Summary
The usage of capital ($’000)
Total
2008
2009
2010
2011
2012
Construction Loan Investment
200,000.00
200,000.00
0.00
0.00
0.00
0.00
Construction Loan Repay
200,000.00
0.00
0.00
0.00
100,000.00
100,000.00
Interest
52,500.00
0.00
0.00
45,000.00
7,500.00
0.00
258,697.94
127,590.55
75,568.55
49477.90
6,060.94
0.00
Land purchase
110,625.00
110,625.00
0.00
0.00
0.00
0.00
Construction Expenditure
148,072.94
16,965.55
75,568.55
49477.90
6,060.94
0.00
Operational Expenditure(OpEx)
12,483.29
397.80
1,439.04
3141.12
3,659.76
3,845.57
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3
4
3.
3.1
Construction Land
Geographic Location
The Land is located in the New Eastern Metro on Ningbo City, Zhejiang
Province, China.。
Zhejiang
Zhejiang is an eastern coastal province of the People's Republic of
China. The word Zhejiang (crooked river) was the old name of the
Qiantang River, which passes through Hangzhou, the provincial capital.
The name of the province is often abbreviated to "Zhe" (浙). Zhejiang
borders Jiangsu province and Shanghai municipality to the
north, Anhui province to the northwest, Jiangxi province to the west,
and Fujian province to the south; to the east is the East China Sea.
Zhejiang covers only 1.06% of the land and is the smallest Province in
China.
The province is traditionally known as the "Land of Fish and Rice". True
to its name, rice is the main crop, followed by wheat; north Zhejiang is
also a center of aquaculture in China, and the Zhoushan fishery is the
largest fishery in the country. Main cash crops include jute and cotton,
and the province also leads the provinces of China in tea production (the
renowned Longjing tea is a product of Hangzhou). Zhejiang is also a
producer of silk, for which it is ranked second among the provinces.
Zhejiang's manufacturing is centered upon electromechanical industries,
textiles, chemical industries, food, and construction materials. In recent
years Zhejiang has followed its own development model, dubbed the
"Zhejiang model", which is based on prioritizing and encouraging
entrepreneurship, an emphasis on small businesses responsive to the
whims of the market, large public investments into infrastructure, and the
production of low cost goods in bulk for both domestic consumption and
export. As a result, Zhejiang has made itself one of the richest provinces,
and the "Zhejiang spirit" has become something of a legend within China.
However, some economists are now worrying that this model is not
sustainable, in that it is inefficient and places unreasonable demands on
raw materials and public utilities, and also a dead end, in that the myriad
small businesses of Zhejiang producing cheap goods in bulk are unable to
move to more sophisticated or technologically-oriented industries.[
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The per capita disposable income of urbanites in Zhejiang reached 18,265
RMB (US$2,291) in 2006, an annual real growth of 10.4%. The per
capita pure income of rural residents stood at 7,335 RMB, a real growth
of 6.4% year-on-year. Its nominal GDP for 2006 was 1.565 trillion RMB
(US$196 billion) with a per capita of US$3,975. In 2005, Zhejiang's
primary, secondary, and tertiary industries were worth 87.3 billion RMB
(US$10.8 billion), 714.7 billion RMB (US$88.1 billion), and 534.5
billion RMB (US$65.9 billion) respectively.
Zhejiang
Province
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Map of Zhejiang Province
Map of Ningbo
Ningbo
Ningbo is a city in Zhejiang Province, on the eastern coast near
Shanghai. A powerhouse of the Yangtze river delta, Ningbo has a
strong manufacturing sector and has many factories which make
high-quality,
inexpensive goods for export, particularly textiles, fabrics, garments,
and consumer goods. The port in Beilun District is the best natural
deep-water port in East China. Ningbo is one of the greenest cities in
China, with beautiful urban scenery.
Ningbo has the second largest GDP among all cities in Zhejiang. In 2006,
its GDP had reached 286.449 billion RMB grew by 13.4%.
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Beilun Port in Ningbo is one of the leading international deep-water ports
in China. In 2002, Ningbo‘s cargo throughput
reached 154 million tons, an increase of 19.8%; while container
throughput surged by 53.3% to 1.86 million TEUs, the sixth major
container port of China. Ningbo is the home of many famous brands
in China, such as garment brands—Youngor, Firs, Romon, Stationery
brand — BinBin; and textile thread—Dunhuang）, etc.
At present there is a “cross-sea” bridge under construction. This
bridge will connect Ningbo to Shanghai directly. When It completes
in 2008, the trip from Ningbo to Shanghai is within 2 hours of driving.
Within 5 years in the future, Ningbo New Eastern Metro will
become the center of the city. Our construction land is located right in
the center area of the district.
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Ningbo City
& New Eastern Metro
(red line delineated area)
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3.2
Land Description
The land is 367.752m by 250m and 92,187.5 m2. It is about 300
meters from the future new city municipal hall. Two blocks away is
the busy Ningbo Expo and Convention Center.
3.3
Land Purchase
Ningbo Kaihui Electronics Industry Co., Ltd has already obtained use
permit for the land of 19,028.4 m2.
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Kaihui US Electronics will purchase from Ningbo Kaihui Electronics
Industry Co., Ltd this land priced at $1200.00 per m2 for the project. The
total amount for the purchase is $22,834,080.00.
Kaihui US electronics Industry Limited Company will purchase from the
city the land of 73159.1 m2 at $1200.00 per m2, totaling $87,790,920.00.
The total capital used for the project land will be $110,625,000.00
3.4
Land Appraisal
The appraised value of this land of 19,028.4 m2 is $22M for industrial
usage. The land value will appreciate for commercial usage
upgrading up to RMB 3 8 5 m i l l i o n ( $ 5 0 m i l l i o n ) .
See attached Appendix 4.
3.5
Land Construction Permit
See attached appendix 3
4.
4.1
Construction Plan
Overall Layout
The total construction area is 295,000 m2.
a) Hotel building: Main tower building:
In the middle is the 69 stories, 227
meters high (including 3 escape
stories and 3-story skirt building) main tower building. It is the 5-star
hotel.
Two towers of 150 meters high (including 2 escape stories and 3-story
skirt building). One is for the office space and one for luxury condo
apartments.
b)
Top levels of the hotel building
There will be 5 levels on top of the hotel which are designed for the
luxury or VIP suites.
c)
Escape stories
There will be escape stories in all three buildings.
d)
Skirt buildings
The height is 16.9 meters.
Floor 1 and 2 space is for commercial retail. Floor 3 is for restaurants,
entertainment facilities.
Underground levels
There are 2 levels of 9 meters underground structures. Most of the
spaces are used for parking lot.
f) Construction sizes
1.
Hotel
100,000.00 m2
2.
Condo
61,000.00 m2
3.
Office
61,000.00 m2
4.
Skirt building
55,000.00 m2
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5.
underground
18,000.00 m2
g) Other indices
1. Plot ratio
2. Site coverage
3. Ratio of green space
4.1.1.
3.2
35.6%
39.2%
Building Room Types
Offices 525 rooms
100 m2/per room
Hotel 3000 rooms
30 m2/per room
Condo 1100 rooms
50 m2/per room
Restaurant 5 room
500 m2/per room
Café 5 rooms
500 m2/per room
Barroom 10 rooms
500 m2/per room
Dance hall and KTV 10 rooms 500 m2/per room
Shop 10 rooms
4000 m2/per room
Car Parking 690 rooms 23 m2/per room
4.2
Building Description
Shanghai Institute of Architectural Design & Research Co, ltd. (here
in referred to as SIADR) is the architectural designer for this the
project.
4.2.1
Super Five-Star Hotel
This 5 star hotel will have 3000 spacious and luxurious guest rooms
and suites all decorated in a classic, contemporary style. All of the
hotel rooms will incorporate state-of-the-art electronic control system.
Broad band internet connections are provided in each room.
The hotel will be equipped with high-tech Spa and Health Club to
offer the guests a broad range of facilities in a serene atmosphere.
Five restaurants and other bars provide varieties of food and fine
cuisine.
On the top of the hotel the spectacular views of Ningbo will hold our
guests’ eyes.
4.2.2
5A Office Building
LOW-E glass-wall
Office spaces are open, bright, providing transparent
surroundings for people in the office. This would create a
working environment.
Easily configurable spaces
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Customer can easily reorganize the spaces as they see necessary.
The space depth will be set at about 10 meters, which is good for
getting outside light in. Fresh air can easily go through.
High efficiency elevators
Twelve high speed elevators by KONE of Finland will connect
from the underground parking to the top.
Intelligent control system
The intelligent control, security and management system will be
installed in the building at the places like main lobby, key
accesses, basement, entrances and exits, etc.
4.2.3
Luxury Condo Apartment
The condo apartments have one to three bedroom apartments. Each
apartment will equipped with european style cabinet，stove fan,，gas
stove, oven, refrigerator and microwave oven.
Laundry room with washer and dryer.
Central water heater
Smoke detector
Gas leaking detector
elegant designed furniture’s.
Dining room and furniture’s
Carpet in bed rooms
Walk-in closet
Intercom with gate security
Emergency alarm button in the main
bedroom
Broad band outlet
Telephone and fax machine
Satellite TV
Peripheral facilities
1. Underground parking
2. Business center
3. Shopping center
4. Super market
5. Bank
6. 24-hour Clinic
7. post office
8. indoor-outdoor playground for children
9. 35 meters indoor swimming pool, 600 m2 Gym, 2 indoor tennis
courts and Sauna room, massage room etc.
4.2.4
Skirt Retail and Shop Spaces
The famous name brand merchandises will be
introduced, including followings:
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Patek Philippe
Vacheron Constantin
LV
DOLCE&GABBANA
GUCCI
MUSHI
TESIRO
Renaissance
POLA
…..
4.3
Structural and Engineering Description
Structure type: The structure will be frame- shear wall type structure.
Aircondition system: Central air condition. Water cooled, centrifugal.
Heat supply: Two path independent head supply and independent
electricity generator
Communication: Complete communication, internet and POS system.
Lighting and power supply: High standard lighting, indoor energy
saving lighting.
Power load capacity: First level load capacity
Power source: Two independent power cable each capable for the
whole buildings.
Power converter room: with converter and distributor；
Emergency power generator：use high quality imported generator. It
will start with 15 seconds after losing normal power supply.
Building auto-control system: imported with extensibility
Traffic and vehicle control system for the underground parking space
Security monitoring system: Camera, decoder, digital video recorder,
central control system etc.
Fire alarm system: Automatic water showering system. Top water
pumps. etc.
Window cleaning machine: track type of window cleaning machine.
No dead spot.
Wiring configuration: Star topological distribution with 1000 mb fiber
ethernet. 100mb to the desk.
Multiple satellite bases reserved for some customers
Wireless, mobile phone signal with no dead spot
4.4
Architectural Style
Architectural style
Post-modern architectural style. Three main towers are connected
by the skirt structures. This whole architectural structure will
emerged into the modern city of Ningbo and meanwhile will
stand out as a landmark structure in the city
Decorating style
The hotel will be modeled with style to show its elegance and
comfortableness. Condo apartments will show its individualities
and the office building will be focused on its lobby area and
public areas.
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4.5
Green Space and Environment Protection
5.
Green area and planting
Spatially juxtaposed planting with low shrubs and tall trees
together with different sized lawns displays pleasant view for
people coming to the plaza.
Environment protection
The whole project will give a full consideration on environment
protection issues from the selection of the equipment, material
and even the decorating materials.
Operation Plan
The project is scheduled to start in the first quarter of 2008 and finished
by the end of the second quarter of 2011 totaling three and half years.
5.1
Preparation
The pre-preparation includes all necessary paper works, applications
and permits, etc to and from the government. Others are land
preparation of moving out and relocation of objects on the land.
Relocation:
Since most of the objects on the land belong to Ningbo Kaihui
Electronics Industry Co., it is not difficult to complete the work. It is
schedule to be finished in the first quarter, 2008.
On site survey, designing stage:
This work is scheduled to complete in the first quarter, 2008 also.
5.2
Table of Schedule
Project is scheduled to start in the second quarter of 2008 and end by the
second quarter 2011：
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Year
3 supplies
&
1 leveling
Pile
fndtion
Undgrnd
2008
2009
2010
2011
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struct
10
decor
12
install
9
Skirt
building
14
struct
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decor
12
install
12
Main
building
27
struct
18
Steel
struct
Steel
concrete
masonry
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18
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Decor
21
initial
12
public
10
fine
10
wall
6
outer
wall
3
install
21
lighting
21
comm.
net
21
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water
heat..
contrl
sys
elevator
21
21
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alarm
21
infrastruct
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plantation
6
test
3
deliver
3
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6
Market Analysis
6.1
General Information
The building will be constructed on the eastern part of the Ningbo
City. Most of the municipal and administrative offices are located in
this area. The city new commercial district is also located here. Many
expo sites, trading centers and tourism sites are also concentrated in
this area. Within 10 kilometers of the surrounding area there are many
industrial factories, fishing industries, etc. The value of the location
will increase in the future. Annual trade shows, business meetings and
increasing demand for new office space in this area brings a good
opportunity for this project.
6.2
Introduction of Zhejiang Province
Zhejiang is one of the wealthiest provinces in China. Its economic
strengths are rice, silk, fish and tea. It produces one-third of China's
sea crustaceans with its long irregular coastline that provides a fine
habitat for shrimps, prawns, and crabs. Output of citrus fruits and
honey is the highest in China. The most densely populated and
intensively farmed area is in the north of the Taihu Plain. Hangzhou,
the capital, has good infrastructure and substantially lower land and
labor costs and gives nearby Shanghai good competition
You can find more information from the attachment
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6.3
Introduction of Ningbo City
Ningbo is a very important economic port city with the population of
eight million. The income per capita reaches $3900 which ranks the
forth among all cities in China. Historically it is a port city for foreign
trade since the 7th century. Ningbo currently is a major exporter of
consumer products, electrical products, textiles, food, and industrial
tools and a tourism city.
Ningbo Port:
A modern comprehensive multifunctional deep-water port, combining
inland, estuary and coastal harbors. Up to now shipping lines have
been opened to more than 560 ports of over 90 countries and regions.
The cargo throughput of Ningbo Port reached 290 million tons and
following Shanghai Port it ranks 2nd among the coastal ports of
mainland China. The container throughput in is 290 million TEUe,
taking the 5th place among the ports of mainland China. For 5 years
running it has been taking the first place for its increase rate among
the chief container ports of mainland China.
Trading:
The revenue of trading reached $12.91 billion, 28% increase than in
2005.
Tourism:
The revenue of tourism reached $11.61 billion, 22% increase than in
2005. The person-time reached 127.3 million, 35% increase than in
2005.
Expo, Trade Shows and Conventions
Ningbo City hosted international events for and national or local
events for 146 times in 2006. Total exhibition space reaches about 1.5
million m2.
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6.4
New Eastern Metro
According to the plan, this New Eastern Metro will be in the eastern part of the Sanjiang
Metro-east, from the West Century Boulevard area, east to the East Link, south to the north of the
railway, north to the thoroughfare road, and the whole area of 16 square kilometers.
When Eastern Metro is completed, it will form the "one city, two hearts" spatial pattern.
Eastern Metro Area will be divided into nine functional Areas:
Central Business District,
Municipal centers
Central Corridor District
Multi Functional District
Residential Area
Ecological Corridor Area
Minghu Residential Area
Reserved Area
Electronic Industrial Area
(Note: Property land area)
According to the plan, central business district will be urban core areas; Urban central area mainly
includes the municipal land and office space; Central Corridor District consists of a range of
cultural and urban public facilities component; Multi Functional District is for the high-density
commercial office and apartment-style residential mixed use; Residential area, around the new City
Center, includes the low to middle-grade residential community equipped with the Neighborhood
Center and educational facilities; Ecological zone along the north-south corridor to the ecological
corridor, a series of public sports, leisure and cultural facilities use; Minghu for low-density
residential areas lakeside communities, a culture of the lakeside leisure facilities; Electronic the
industrial zone contains reservations leased for the electronics industry and the hotel site, The
estimated population will reach around 160,000 in the near future.
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6.5
6.5.1
Real Estate Market of Ningbo
Brief
In the first quarter of 2007 investment in real estate development
completed $660 million, an increase of 15.3%. This about 19% rise
than over the same period last year, which is much higher than the
investment in the whole society of increase of 1.1%. Investment in real
estate development tends to keep its momentum.
Building construction area grows 15.2% over the same period last year.
This year the start of new construction increase for a significant 49.6%.
Sales of commercial property enlarged 417,600 square meters, an
increase of 3.2 times over the same period last year. Pre-sold building
spaces reaches 1.9million square meters, 16% increase than same
period of last year.
The source of funding reaches to $610 million with domestic loans rose
64.6%, self-financing rose 13%.
From the Urban Survey data released by the first quarter of this year,
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Ningbo four areas of housing prices compared with a year earlier, rose
4.5%. The average price is $1090.60/sm, 8%highier than last year.
Non-residential or commercial real estate average price is $1412.5/sm,
which is 8.4%increase.
The price increase, according to the analysis data from the Urban
Survey, is primarily due high market demand. According to recently
released Ningbo city government document <<Ningbo on further
promoting the development of exhibition industry>>, by the year 2010
Ningbo shall host annually 290-300 events and conventions, 160 large
scale exhibitions. Among them 20% shall be at the scale of more than
20,00 square meters. Ningbo shall strive to enter into rank 10 in
exhibition industry in the country.
Due to rapid development of Ningbo City, most existing office spaces
are almost sold or rented out. Especially since 2000. 26 of the world
fortune companies entered Ningbo. Companies with foreign capitals
reached 6000. Domestic company registrations are also increase very
fast every year. But Office spaces are lack behind. One large tower
building was sold just in 15 days. At present even the occupation of low
grade builds also reaches about 85%, Because of this supply/demand
unbalance the price rose 20% than last year.
6.5.2
Hotel
Since 1998 named the first batch of China's outstanding tourism city,
the development of tourism in Ningbo City average annual growth of
over 11.5 percent, have been fulfilled ahead of schedule, "tourism
development in Ningbo City," 15 "planning and 2020 Long-Term
Goals for" planning goals, in 2004 one year in advance to "Tourism
City"; tourism income equivalent to the total GDP of 9.51 percent, the
tourist industry has become a pillar industry of the national economy.
Ningbo five-star hotels
Name
No. Rooms
Year Opened
Citic Intnl Hotel
Nanyuan Hotel
Portman Plaza Hotel
Marriat
Howard Johnson Plaza
Shangri-La
Grand Radisson
Crown Holiday Plaza
宁波远洲大酒店
Nanyuan International
宁波万达国际大酒
柏悦国际会议中心
286
438
545
311
538
550
403
500
290
…..
…..
…..
1997
1995
2005
2007
2007
2008
2008
2009
2007
2008
2008
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6.5.3
Office
2004-2006 Office space market:
2004 sold 250,000 m2
2005 sold 330,000 m2
In the first half year, the sold office floor sizes reached 269,300 M2.
2007 estimated sold 500,000 m2
Ningbo office markets trend towards larger, high quality, more
complete facilities and better management. A Class A office property
improvement, such as Tianyi Business Center, is not only equipped
with independent luxury office lobbies, high-speed elevators, but also
thermostats swimming pools, large leisure clubs; - building in
accordance with 5 Grade A office space construction standards, first
use of the entire three-dimensional mechanical garage. Ningbo office
property is not what it was, especially some new projects either hardware
or software, at a higher level, which led office property prices very high,
the average price of 10,000 RMB / ㎡ above. With the recent years of
Ningbo's rapid economic growth, the demand for office property is
also growing and the local office market is gradually warming up,
most of the stock was sold completely. As a major consumer group of
the office space the private enterprises has also developed quickly in
Ningbo. According to statistics, the city's annual increase in the
number of registered enterprises, just three-funded enterprises alone
have reached 6,000. Among the world’s top 500 enterprises 26 have
branch establishments in Ningbo. In 2005 the office rental is relatively
high, as the Bank of China Building, PICC buildings, the financial
buildings are fully rent out. The office space occupancy rate has
reached 85 percent.
Three major consumer groups are
large-scale financial and insurance institutions, departments and
units in ministries and groups and foreign institutions, they rent large
office space, covering an area from 250 ㎡ and up.
offices of some provinces and cities, foreign trade companies, and
other customers, they generally rent around 150 ㎡.
small companies and trade offices in 100 ㎡ or below.
About 90% of the office space raised the price by 20 %. Generally
high-end office price is RMB 10000 - 12000 RMB / ㎡, such as
Tianyi Business Center, Portman Center. Middle level is between
7000-10000 RMB / ㎡. in 2005 Jinlong International Office set the
price at 15500yuan / m2.
Most of the above office spaces are a just single function office space.
Our multifunction will have advantage in the market, especially for high
end office users.
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6.5.4
Condo Apartment
For the past two years, hotel-style apartment become the new favorite
of the real estate market, investors consider it as an investment
property, and the developers see it as a new profit growth. Trend.
Unit price :
Generally, as completely furnished high quality apartment the average
price RMB12000－20000/m2 is normal
Total price:
Although considering that the unit price is not low, but with the
controlled size of each apartment the total price will attract many
buyers.
Apartment type:
The mail trend in the market is 50-150 m2. The large and small ones
are about half and half, and each has its customer group.
Sales:
The smaller units were sold faster.
Customers:
Most are investor type of customers.
Market trend:
Base on statistics, since 2006, the price for hotel room rose by20%.
The demands for renting condo apartment will grow rapidly, especially
for business people needing living places in the New Eastern Metro
area.
6.5.5
Retail Space
Current status:
Since 2003 The commercial retail business market had gone through a
big change. Market Streets and Specialty goods market were
established and modified, forming so called main stream market street
district. Supply and demand is more balanced overall.
Development trend:
Within 3-5 years there would be a new peak demand for commercial
space investment about 500,000-800,000m2. By 2008 10% of the
world’s top retailers will open there sales in Ningbo.
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7
Market Competition
7.1
Brief
Currently in Ningbo only the Eastern Port Portman Hotel has
multifunctional services of hotel, office, residence and shopping
together. Others only have one or two of those services. Because of
those unique services available, the Portman’s office and condo were
rent out almost 100%.
At present there is no real competition for Portman on the market for
this type of multifunctional services. Other 5-star hotels are only
competing in one or the other service.
7.2
Competitor analysis
There are four 5-star hotels with total more than 1200 rooms. They are
Eastern Port Portman Hotel, Nanyuan Hotel, Nanyuan International
Grand Hotel and Shangri-La Hotel.
7.2.1
Eastern Port Portman Plaza Hotel Ningbo
Located in the core business area the Portman Plaza Hotel Ningbo was
the first international brand hotel in Ningbo. Opened in 2005, it is soon
became one of the major 5-five hotels in Ningbo. With its 3000 lobby
space and more than 500 rooms The Portman Hotel is one of the best
in Ningbo.
http://www.portmanplazahotel.com/front/index.php
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7.2.2
Nanyuan Hotel
After its remodeling in 1995 Nanyuan Hotel upgrade to a 5-star hotel.
It is located in the central part of Ningbo city. It has 435 rooms with
30,000 m2 ground area and total 65,000 m2 floor spaces.
http://www.nanyuanhotel.com/En/AboutUs/AboutUs.aspx
7.2.3
Nanyuan International Grand Hotel
Nanyuan International Grand Hotel has 200,000 m2construction size,
including one 80,000ms hotel, 120,000 condo apartments and
shopping spaces. The height will be 150 meters. It is scheduled to
complete in 2008.
7.2.4
Shangri-La
Shangri-La, Ningbo was designed by Wong＆Tung, occupied 22,500 m2
in the business district. It has 550 rooms, the smallest is 45 m2..
7.3 Potential Competitor Analysis
There will be soon 9 new 5-star hotels completed. The Grand Radisson is
nearest to our project site and has closely architectural style and market
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positioning.
7.3.1 Ningbo Grand Radisson Hotel
Brief
500 m meters north of our project site there is a hotel complex under
construction. This is the Ningbo Grand Radisson International Center.
Invested and Developed by Zhejiang DGA Group and Opel Ningbo City
Real Estate Dev. Co. Ltd. It has 200,000 m2. This center will consist of a
500 room hotel, 80,000 m2 grade-5-A office building designed by B+H,
Canada.
7.4
SWOT Analysis of Global Finance Information Plaza
Strengths
In comparison with the most real potential competitor Portman Hotel,
this project has many strengths
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1. Good location
Located right in the key site of the business, commercial and
administrative district of the New Eastern Metro. It has high potential
merging with surrounding business and commercial activities.
Portman Hotel is located in the old district and its expansion potential
is limited.
2. Convenient transportation
The new road system in the New Eastern Metro gives very convenient
transportation in and out of this area.
Portman Hotel is surrounded by narrower and crowded roads.
3. Better infrastructure
According to the New Metro Planning, the infrastructures are very
complete and convenient.
Portman Hotel is less convenient.
4. Beautiful scenery
69 stories height provides with pleasant, beautiful scenes of Ningbo
City and the Three river junction.
Portman has only 38 stories.
5. Good Appreciation Potential
The multifunctional service market positioning is closely matching
with the New Metro planning. This will offer more appreciation
potential. On the other hand the land cost is relatively low and the
market strategy is to adopt low market entry, leaving high profit room.
Portman Hotel’s appreciation potential is more limited.
6. Consumption Psychology
Consumption psychology of the wealthy group is to pay for the best
quality. This is probably the reason that Portman enjoys high traffic.
But since Portman has opened for 3 years and our hotel would surely
attract this group of consumers with our best service quality.
Weaknesses
1. Probable Traffic Noise
Due to close distance to main roads.
2. Initial Planning Stage
The New Easter Metro development its initial stage. The fully
developed central of the new metro needs another 3-5 years.
Opportunities
1. Real Estate Development Trend
Land becomes scares each day, crowdedness in old town push
businesses and residents to move to the new town.
2. First Multifunctional Service Type on the Market.
3. Perfect match with the city planning
Threats
Although our project has many strengths, the potential competition is
still there, such as Eastern Portman, Grad Radisson and others, as well
as new future such project.
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8.
8.1
Marketing Plan
Positioning and Marketing Theme
Potential high-end buyers have high expectations about where they live
and what they live in. They want luxury interiors and state-of-the-art
amenities In order to appeal to these residents, the marketing/advertising
campaign will show exceptional floor plan designs, distinctive
architecture, lifestyle conveniences, and five-star luxuries.
Landmark Architecture in the Province
A landmark architecture consisting of a 5-star hotel building, a 5-A
grade office building and a luxury condo apartment building to be
built in Ningbo. This multifunctional structure will be perfectly
merging with city’s New Eastern Metro development
High Design, High Quality, High Value and High Service
Offering a high end product to our customers.
Alternatives for Investors
A viable, variable and value-oriented alternative choice for
homebuyers. This is a new market trend.
8.2
Target Customers
Target Customers of Office Building:
1.
2.
3.
4.
Target Customer of Hotel
1.
Foreign and well-known Chinese companies;
Mid and small frontier enterprises such as E-commercial,
bio-tech, information, law firms as well as insurance, trade,
service and management businesses.
Customers having close business ties with local businesses.
Potential Investors interested in Ningbo area.
Frequent business travelers. Foreign and domestic vacationers,
travelers and visitor.
Target Customer of Condo Apartment
1.
Buyers: Home-buyers, real estate investors, foreigners working
and living in Ningbo..
2.
Residents: People bought the office properties, foreigners
working and living in Ningbo, private entrepreneurs, workers of
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branches of outside of Ningbo.
Target Customers of Commercial Spaces
Original shop owners of the area, residents intending doing retail
business and the investors of shopping spaces.
8.3
Products and Prices
Prices are base on the current market conditions in Ningbo.
Assuming 7% annual price increase for the next 4 years, the price
listed below has been averaged based on sales plan.
Hotel 3000 rooms
Offices 525 rooms
Condo1100 rooms
$3120/ m2
$2600/ m2
$2165/m2
Shopping area 10 rooms
Restaurant 5 room
Café 5 rooms
Bar 10 rooms
KTV 10 rooms
Car Parking 690 rooms
$2839/ m2
$2839/ m2
$2839/ m2
$2839/ m2
$2839/ m2
$1333/room
Sales Summary
Yearly Sales (M2)
Hotel
Office
Condo Apartment
Skirt Building
Shopping Area
Restaurant& Cafe
KTV
Bar
Car Parking
8.4
Total
100000.00
61000.00
61000.00
55000.00
40000.00
5000.00
5000.00
5000.00
700.00
2008
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2009
6252.00
3804.00
3804.00
2752.00
2002.00
250.00
250.00
250.00
36.00
2010
31260.00
19068.00
19068.00
16500.00
12000.00
1500.00
1500.00
1500.00
228.00
2011
41797.00
25152.00
25152.00
22005.00
15996.00
2003.00
2003.00
2003.00
287.00
2012
20691.00
12976.00
12976.00
10988.00
8000.00
996.00
996.00
996.00
149.00
Marketing Plan
Marketing Strategy:
This development will be a prestigious and luxury multifunctional
development. As one of the first large-scale complex structure to be
built in this part of New Eastern Metro, Ningbo. The project
management will conduct a marketing campaign that not only sells
the development but also presents the New Eastern Metro as a
desirable investment destination and as well as demonstrating that
owning a property in New Eastern Metro is a viable alternative to the
less than desirable old town of Ningbo. Several all-out scale public
relation campaigns, media events and onsite presentations to general
public will be scheduled to boast the customer’s confidence.
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Marketing Target:
Trying to complete the sales in shortest period of time to recover the
investment quickly. Targeting 40-60 % pre-sales.
Marketing Stages:
Whole marketing is divided into five stages:
a) Preparation
b) Introduction to whole project.
c) Introduction to individual products
d) Full scale marketing for individual items.
e) Sustained sales.
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2nd Q
3rd
Q
4th
Q
2009
1st
Q
1
2
3
4
1
4
7
10
2008
1st
Q
# Quarters
# Months
2nd Q
3rd
Q
4th
Q
2010
1st
Q
2nd Q
3rd
Q
4th
Q
2011
1st
Q
5
6
7
8
13
16
19
22
2nd Q
3rd
Q
4th
Q
2012
1st
Q
9
10
11
12
25
28
31
34
2nd Q
3rd
Q
4th
Q
2013
1st
Q
2nd Q
3rd
Q
4th
Q
13
14
15
16
17
18
19
20
13
14
15
16
37
40
43
46
49
52
55
58
37
40
43
46
Preparation Stage
Prep-Stage
Sales budgeting
Open sales
publicity
office
3
and
on-site
3
Sales materials and printing
3
Pre-sale preparation of sales tools
and equipments.
6
Sales team and training
6
Exhibitions
Prep of Exhibitions
3
Exhibitions
3
Public
Relations
Media strategy Planning
3
3
3
3
3
3
3
3
Introduction to the whole Project
Publicity, Photo exhibition
3
Continued
Soft Ad.
6
Opening
ceremony
3
Publicity
video making
3
TV commercial production
3
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Introduction to Individual Items
Hotel
3
Sales material and printing
3
Pre-sale tools & equipments
Office
3
3
Condo
3
3
Skirt
Buildings
3
3
Sales Introduction Stage
Opening Commercial TV Series
3
TV Commercials
3
Other Commercials
12
Continued Commercials Ad.
All-out Sales Stag
Hotel
3
Opening
Ceremony
27
Commercial campaign
27
Continued
Soft Ad.
27
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Continued
sale
Office
3
Opening
ceremony
27
Commercial campaign
27
持续软文
27
Continued
sale
Condo
apartments
3
Opening
ceremony
27
Commercial campaign
27
持续软文
27
Continued
sale
Skirt
Buildings
3
Opening
ceremony
27
Commercial campaign
27
持续软文
27
Continued
sale
Underground parking
Continued
sale
27
Key PR & Customers
Hotel
3
3
3
3
3
3
Continued key PR activities
Office
3
3
3
3
3
3
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Condo
Apartments
3
3
3
3
3
3
Skirt
Buildings
3
3
3
3
3
3
Final Sales Stage
Continued
activities
key
3
3
PR
9
Continued sale
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9.
9.1
Project Organization
Organizational Structure
Ningbo Kaihui US electronics Industry Limited Company will set up
an organization for the Ningbo International Finance information
Plaza project.
Development
Ningbo Kaihui Real
Estate Development
Co., Ltd
Hu Jiakun
Investor Relationship
Legal
Charles Dong
Local project
management &
Government
Relationship
Development
management
Market Research
& Financial Analysis
Jason Yu
PPAssociates.com.cn
Ying Xiangyang
Architecture Permitting
Sales & Marketing
Architecture
DTZ
SIADR
Engineering &
Construction
Management
Larry Han
WuYangJianShe Group
Government Relationship
DTZ HangZhou
Company
Mr. Jiang
Tony Kong
Mr. Feng
9.2
Developer
NingBo Kaihui US electronics Industry Limited Company:
NingBo Ningbo Kaihui US electronics Industry Limited Company is
joint venture company established by Ningbo Kaihui Electronics
Industry Limited Company and USDK INC.. Presently both sides
have submitted formal application for registration of the Ningbo
Kaihui US electronics Industry Limited Company and the application
is in progress.
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9.3
Architectural Designer
Shanghai Institute of Architectural Design & Research Co．
．，Ltd:
，
It has been already more than half century for Shanghai Institute of
Architectural Design & Research Co．，Ltd。(hereinafter referred to as
SIADR) to be developed from the Design Section of Technology
Department of Shanghai Construction Engineering Bureau．During
this period，its name and structure have been changed for many
times．In 1 955，If was named as Shanghai Architectural Design
Company, and changed to Shanghai Civil Architectural Design
Institute in 1956．In 1993 its name was changed to Shanghai Institute
of Architectural Design & Research．In 1998．SIADR was merged
with East China Architectural Design Institute to establish Shanghai
Xian Dai Architectural Design(Group)Co．，Ltd．Meanwhile，the name
of Shanghai Institute of Architectural Design & Research was
reserved。
Now SIADR has five comprehensive design departments，each having
its own specialty in cultural buildings，sports buildings，convention &
exhibition buildings，hospitals，educational buildings，etc．Meanwhile
SIADR has scientific research development departments，such as
Planning & Conception Department engaged in original designs，
Space Structural Design Department, Intelligence System Design
Department, etc.
http://www.siadr.com.cn/
9.4
Construction Company
WUYANG Construction Group Co., Ltd.
Wuyang Construction Group Company, Ltd. is a large-scale
enterprise with certified first rank business qualification. It has more
than 18,000 employees. Its registered capital is ￥300 M and the total
assets reach ￥6.26 billion.
After more than 40 years of efficient management, rigorous quality
control and implementation of vital enterprise mechanism, especially
with all completed high quality architectures, construction projects as
well as products in other fields, Wuyang has built itself into a
multi-business group company specializing, with certified first
qualification, in the fields of infrastructural foundation, architectural
construction and modeling, steel frame structure, large electric
equipment installation as well as fire fighting. It is fully capable of
contracting very large construction projects.
Recently Wuyang has adjusted its business objectives to fast paced
economic development in China and over the world. Wuyang now has
diversified its business into construction, real estate development,
architectural design, supervision, consulting, international trading, ore
mining and raw mineral trading, etc., adhering to the "one
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industry-based, multi-industry simultaneously" development strategy
operates in the construction, real estate, construction design, control,
domestic and foreign trade, hotels, and so on, throughout all major
domestic cities and in Hong Kong, Singapore, the Japanese market.
Wuyang sustained a 30% annually increases for years and ranked 58
among the 500 private enterprises nationwide in 2003. Later in 2005 it
is the 44th of the top 60 general contractor in the country. It is also
inducted into top 500 companies in China.
For many years, Wuyang has been consistent to its business concept
of ‘Quality First, Customer First’. By cultivating the company’ culture
of ‘Best Service, Technical Advance, Innovative Idea, Customer
Interest First, Employee Individual Initiative Potential, Team
Cooperation, Paying-back to Society, Emphasize to Long Term
Interest of Company’ Wuyang has been awarded many honorary titles
and rewards.
Wuyang has been certified as the “First Qualification Level” ranking
contractor for general housing projects; the “Secondary Qualification
Level” ranking contractor for municipal infrastructure and utilities
projects, and also owns foundation, building decoration, steel
structure grid, firefighting with “Fifth Qualification Level” ranking. It
is now a high qualified general contractor for complete, large-scale
construction projects with design, procurement, construction (DPC)
turnkey capacity.
Wuyang, adhering to the fully operational ISO 9001, ISO 14001,
OHSAS18001--the Environment Occupational Safety and Health
“Three-in-One” system and implementing “brand-name strategy”,
has now enjoyed the “Shanghai Magnolia Cup", "Great Works Cup",
"KingKong Prize", "Qianjiang Cup", “National Construction Safety
Award” and Prefecture-Level Civilization Enterprise, etc., totaling
more than 200 rewards.
In 2005 Wuyang has two key contracts
1. the Chongqing Marriott International Financial Center, 77-story,
377 meters high.
2. Olympic Media Village B5 Section.
9.5
Sales and Marketing Company
DTZ Hangzhou Branch
DTA is a well-known, major international consultant for real estate
business. DTZ branch is located in Hangzhou City, Zhejiang Province. It
focuses on real estate markets in the surrounding areas covering
southeastern part of China.
DTZ Hangzhou, opened in 1993, became the country's first registered
division of overseas-owned real estate license consultants. DTZ has
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always been committed to local and multinational clients, providing
world-class one-stop solution for real estate, service areas including
research consultancy, the global management consultant, estimates and
consultants, estate agents, investment services, and property
management.
DTZ Hangzhou won star status and client’s trust.
DTZ Hangzhou has also won the Association of Zhejian Real Estate
Governing Member Awards.
http://www.dtz.com/portal/site/en-cn
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10
Company Organization
10.1
Organization Chart
NingBo Kaihui US Electronics Industry Limited Company
Board Of Directors
Executive Office
Marketing and
Strategy Center
Engineering
Management Center
Company
management Center
Accounting
Department
Sales Department
Designing
Department
Human Resource
Department
Strategy Department
Engineering
Department
Training
Department
Company Office
Material Management
Department
Decorating
Department
Pubic Affairs
Department
Finance Department
PPAssociates.com.cn
10.2
Function of Each Department
The functions of Board of Directors
Implement the decision of the General Company
Make plans of management and investment strategy
Examine and verify the annul budget plan of the company
Examine and verify plans of profit distribution and deficit make-up.
Examine and verify plans of increasing or decreasing the registered
capital of the company as well as plans of issuing bonds.
Draw up a plan of companies merging, dividing and disbanding in terms
of accounting system.
Have rights to employ or dismiss General Manager. The employed
Manager has rights to employ or dismiss the Vice Manager, Manager of
Accounting Department and decide their salary.
Examine and verify the rules and regulations of the company.
Be in charge of supervising the work of the different departments.
The functions of Administrative Office
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Draw up the plan of development of the project company and be in charge
of putting it into effect.
Suggest the managing and expense budget to Board of Directors.
Lead the managing activities of the project and achieve the profit goal,
which is decided by Board of Directors.
Guarantee the project company being able to provide the services in
conformity with the general standard.
Collect the reactions of customers; do the research of the market demands,
and continual readjust the direction of management of the project
company.
Set the keynote for the advertisement.
Develop public activities as the representative of the project company.
Run the company according to the approved plan.
Establish and improve the working process, rules and regulations.
Put forward administration system chart, personnel system chart and grant
total salary chart to Board of Directors.
Have rights to employ and dismiss the managers of basic functional
departments of the project company.
Be in charge of report the running state and finance state of the company,
at the same time reacting to the addressed inquiries.
Examine and verify the rules and regulations made by Human Resource
Department, including employee’s manual, figure of company, benefits
and salary, and the responsibilities of the different positions in the
company.
Be in charge of supervising the work of functional departments.
Settle the emergency of the project company in person in order to ensure
the normal running of the company.
Support the meeting of coordination as well as arbitrate and prevent the
conflicts among the different departments.
Ensure the safety of all the employees and customers in the company.
Ensure the development of the company culture.
The functions of Marketing and Strategy Center
Be responsible for Administrative Office.
Make annual, quarterly and monthly promotion plan according to the
improvement strategy of the company and put forward to the General
Manager.
Make the promotion plan according to the data of Sales
Department and help them carry out the plan successfully.
Periodically collect the information of real estate and continually carry out
the promotion policies.
Be in charge of organizing, planning and enforcing public activities.
Be in charge of the service management and make the relational rules and
regulations.
The functions of Engineering Management Center
Take part in the work of project investment planning, project possibility
researching, the project blueprint designing, examining and approving as
well as budget making.
Take part in the work of inviting and entering bids, making the contract,
examining and verifying then signing the contract.
Enhance the quality control to ensure the smooth process of the project.
Co-ordinate the relationship between departments of the company and
other companies and ensure the smooth running of the project.
Company Management Center
The functions of Company Management Center
Assist the Administrative Office in administrating the different
departments of the company.
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Be in charge of improvement of managing function.
Take part in capital planning, allocating, controlling and managing.
10. 3
Management Team
Hu Jiakun
Title :
Board chairman (Ningbo Kaihui Electronics Industry
Limited Company)
Education
1984-1988
1990-1992
Experience:
1988-1998
Hangzhou University Education Major
Zhjiang University
Law school
Haining County Police Station. Public Security
Dept. Head.
1990-Present Board chairman
Kezhang Dong
Economist and CPR. 28 years of experience on financial and
management with main focus on international trading. Exporting raw
metal materials, Chemical, APB, PVC HDPE and LDPE from
Europe, Africa, south America to China. Engaged in development of
chemical and refinery industry projects, international fund raising.
Education：
1976-1979
1980-1981
1982-1983
1984-1989
1990-2007
BS, China Petroleum University, China.
Engineer Tianjin Ocean Petroleum Co.
Shanghai International Trade University.
Ningbo, China 工作总经理
USDK Inc, CEO and Board Chairman
Jason Yu
Experience:
2005–2007
2001–Now
Manager’s Assistant and Sales Director, USDK, Inc
USA. Customer Accounts and international projects.
1998–2001
Senior Engineer, Sclumberger Co., USA. Civil
Engineering, Petroleum Engineering, 3D display and
GIS software design and development.
1991- 1998
Senior System Engineer, Intergraph Co. Inc. USA.
Civil and Petroleum Engineering, GIS software design
and development. Customer training.
Education：
1985 -1989
General Director, Sino Construction and Service Co.
Civil and Engineering Projects
PhD, University of Pittsburgh, USA. Petroleum
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1983 –1985
1979
Engineering & Geology
MS, University of Pittsburgh, USA, Computer in
Engineer
BS, China Petroleum University, China.
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11.
11．
．1
Financial Plan
Key Assumptions
In order to evaluate Kauihui US Electronics future Earnings we put
forward the following key assumptions.
Financing rate：
Exchange Rate：$100.00 = ￥740.00
Local bank loan interest rate : 7.5%
Investors loan interest rate : 7.5%
Accounting Bases：
Use China Generally Accepted Accounting Principles (GAAP) as
the standard framework of guidelines for financial accounting
Operational tax rate: 6.5%; Income tax rate: 33%
Real estate depreciation period: 50 years
No depreciation will be calculated during construction period.
Capital Plan：
Ningbo Kaihui US Electronics will invest $120 million at the
beginning of the project (scheduled tin Jan. 2008).
Ningbo Kaihui US Electronics plans to raise a construction loan
from private investor in the amount of $75 million with annual
interest at 7.5%.
The loan period is five years.
The repayment starts at the end of the third year. Ningbo Kaihui
US Electronics will repay off the loan in two consecutive years
and the interest. Each payment is $37.5 million plus prior year
interest. Ningbo Kaihui US Electronics will purchase the land for
the project in Jan. 2008. The price is $110,625,000.00.
Construction Schedule：
Total schedule construction period is 3.5 years.
Sales Plan：
The sale is planed to start soon after the completion of the
underground construction which is scheduled in Oct. 2008.
Ningbo Kaihui US Electronics will have a sales contract with the
DZT, the well known real estate property management, solution
and sales company for the complete sale of the project properties
at 88% of the concurrent market price. DTZ will have to fulfill the
sales obligations. Estimation of annual price increase of the real
estate in Ningbo is 7% in next six years.
The peak period of the account receivable would occur in 2010
and 2011. The amount of receivable will not be more than 30% of
the concurrent sales total. Amount.
11.2
Financial projection
The following charts depict the five years financial projection. Detailed
data are in the table in appendix 2.
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11.2.1
Earnings Projection
Revenue 2008 – 2012
(Unit: $000)
350,000.00
300,000.00
250,000.00
200,000.00
150,000.00
100,000.00
50,000.00
0.00
11.2.2
2008
2009
2010
2011
2012
Annual Sale
0.00
42,209.29
225,629.47
321,610.65
173,421.50
EBIDTA
0.00
38,026.65
207,822.44
297,046.20
158,303.53
EBIT
0.00
38,026.65
207,822.44
297,046.20
155,342.07
Net Earnings
0.00
25,477.85
139,241.03
168,876.05
99,054.19
Expenditure Projection
Total Cost 2008 – 2012 (Unit: $000)
300,000.00
250,000.00
200,000.00
150,000.00
100,000.00
50,000.00
0.00
Total Cost
2008
CapExp 258,667.94 127,590.50
12,483.29
397.80
OpExp
2009
2010
2011
2012
75,568.55
49,477.90
6,060.94
0.00
1,439.04
3,141.02
3,659.75
3,845.57
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Construction & Land Cost (CapExp) 2008 – 2012 (Unit: $000)
300,000.00
250,000.00
200,000.00
150,000.00
100,000.00
50,000.00
0.00
Land Cost
Sum
2008
110,625.00 110,625.00
2009
2010
2011
2012
0.00
0.00
0.00
0.00
49,477.90
6,060.94
0.00
49,477.90
6,060.94
0.00
Const. Cost 148,072.94 16,965.55 75,568.55
258,667.94 127,590.55 75,568.55
CapExp
Operational Cost (OpExp) 2008 – 2012 (Unit: $000)
14,000.00
12,000.00
10,000.00
8,000.00
6,000.00
4,000.00
2,000.00
0.00
COGS
SG&A
OpExp
Sum
2008
2009
2010
2011
2012
10,642.86
263.40
1,304.64
3,006.72
3,525.36
3,713.04
662.53
134.40
134.40
134.40
134.40
132.53
12,483.29
397.80
1,439.04
3,141.12
3,659.76
3,845.57
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11.2.3
Financing Plan
Loan Amount
Loan Repay
Interest
Cash Flow After Repay
Finacing Plan 2008-2012 (unit $000.00)
200,000.00
180,000.00
160,000.00
140,000.00
120,000.00
100,000.00
80,000.00
60,000.00
40,000.00
20,000.00
0.00
Total
2008
2009
2010
2011
2012
Loan Amount
200,000.00
0.00
0.00
0.00
0.00
0.00
Loan Repay
200,000.00
0.00
0.00
0.00
100,000.00
100,000.00
Interest
52,500.00
0.00
0.00
0.00
45,000.00
7,500.00
75,431.10
51,459.07
74,283.33
84,269.80
159,538.90
Cash Flow After Repay
11.2.4
Assets Projection
Cash & Equivalents
Fixed Assets
Assets Projection (Units: $000.00) 2008 - 2012
500,000.00
400,000.00
300,000.00
200,000.00
100,000.00
0.00
2008
2009
2010
2011
2012
Cash & Equivalents
75,431.10
51,459.07
74,283.33
84,269.80
159,538.90
Fixed Assets
125,894.00
184,266.96
237,793.63
256,273.56
255,736.48
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12
Loan Raising Plan
12.1
Loan
Ningbo Kaihui US electronics Industry Limited
Company will initially invest $120 million at the
start of the project (Jan. 2008).
Ningbo Kaihui US electronics Industry Limited
Company also plans to raise a five-year
construction loan in the amount of $75 million with
at 7.5% annual interest rate.
12.2
Repayment
Loan repayment
Ningbo Kaihui US electronics Industry Limited Company will start to
repay the loan at the first day of the forth year of receiving the loan
(one year = 365 days) in two consecutive years. Each of the payment
amount is $1,000,000,000.00:
Jan. 1, 2011：$1,000,000,000.00
Jan. 1, 2012：$1,000,000,000.00
Interest payment
Ningbo Kaihui US electronics Industry Limited Company will start to
repay the loan at the first day of the forth year of receiving the loan
(one year = 365 days) in three consecutive years. Total amount is
$67,500,000.00:
Jan. 1, 2011：$45,000,000.00
Jan. 1, 2012：$7,500,000.00
12.3
Loan Usage
The $75 million loan from overseas investors will entirely be used for
purchasing the land from Ningbo City government.
See 3.3 for detail.
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13
Risks
Although this project comes in the right time, at the perfect location and
strong market position Certain risk factors need to be considered and
evaluated.
13.1
Risks from government policy
The recent rapid rise in real estate price may result in a policy risk. The
central government could adjust the policy which would affect the market
price.
Our project, because of the support from the Ningbo City government,
the land price is relatively low, could adopt a low price market entrance
strategy and an enhanced marketing campaign to complete the sale in
relative shorter time frame to minimize the policy risk.
13.2
Risks from competitors
Currently the direct competitor is the Ningbo Grand Radisson project and
may be other new project in the future. But our project is positioned as the
landmark architecture in Zhejiang Province thus sets up a very high
threshold for new comers. With strong support from Ningbo government
and very good personal relationship with city officials it would be very
difficult for future projects to compete.
Another fact to consider is that the land is very scarce in the Eastern
Metro area and our project land has already been reserved, as can be seen
on the New Eastern Metro Planning map above, and to obtain such land as
ours is almost next to impossible.
13.3
Risks from market
The New Eastern Metro is in its initial development stage so the real
estate market may take longer time to mature.
The general market periodic fluctuation is also a risk factor.
13.4
Risks from management
There will be several new 5-star hotels opening soon in Ningbo. The high
quality and effective management is absolutely called upon to minimize
the competition with those hotels. we plan to do the followings:
Contracting with well-known property management company to maintain
high quality future service.
Find market niche, provide more diversified products for our customers.
Maintain customer fidelity and trust to attract more come-back customers.
Conducted By
PPAssociates.com.cn
PPA
文件编号：
65
Appendix 1 Architectural Renderings
Appendix 2：
：Financial Projections (2008-2012)
Appendix 3：
：Land Property User Certificate
Appendix 4：
：Land Appraisal Report
Appendix 5：
：Architectural Designer
Appendix 6：
：Construction Constructor
Appendix 7：
：Sales Company
Appendix 8：
：Marketing Consultant
Appendix 9：
：Financial Pro Forma Data
Appendix 10：
：Brief intro of Zhejiang Province
Appendix 11：
：Brief intro of NingBo City
Conducted By
文件编号：
PPAssociates.com.cn
PPA
66
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Title:
NingBo TwinTowerBuiding 5 Star Loan BizPlan
Subject:
Author:
PPAssociates.com.cn
Keywords:
Comments:
PPAssociates.com.cn is a professional service brand name under
FreeWill consulting firm Ltd.,
Creation Date:
2007-12-5 11:42:00
Change Number:
569
Last Saved On:
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Last Saved By:
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Business-Ningbo PDF

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