CNR Files Interim Results and Letter From the Chairman
December 02 2013 - 3:45PM
Marketwired
CNR Files Interim Results and Letter From the Chairman
NEW YORK, NY--(Marketwired - Dec 2, 2013) - China Metro-Rural
Holdings Limited (the "Company") (NYSEMKT: CNR) announces the
filing of its interim results for the six months ended September
30, 2013 with the Securities and Exchange Commission ("SEC") and
the following letter from the Chairman:
To Shareholders:
Economic uncertainty continued in 2013, compounded by the debt
crisis in several European countries. We also see the
Quantitative Easing ("QE") ending with Bernanke's regime, pointing
out that there are more uncertainties in the market and they affect
all of us. Markets are waiting for President Xi's economic
directions in third quarter of 2013. We have addressed these
market uncertainties by carefully examining and building upon our
fundamental and competitive strengths. We have formulated our
business strategies and have done some fine-tuning of our business
strategies.
We have always structured CNR for an urban-rural migration and
agricultural & logistic trading platforms in China, investing
heavily in the areas we deem will make a significant difference in
China. Some of these areas have been tremendously successful,
funding our activities and generating significant gains for our
shareholders. Our management deems that our ability to handle and
work under uncertainties has been crucial to CNR's overall success
and we aim to maintain this pioneering culture going forward in
urban rural migration redevelopment and agricultural logistic
platforms.
Our management is committed to do all that we can and to strive
to increase shareholders' value. We are still in our major business
as a leading agricultural logistics platform development and
rural-urban migration and city re-development company in China, and
whenever there is good opportunity to increase stakeholders' value,
our management will purse for it.
We provide the following updates of our current and future
projects:
Our Dezhou Project is one of our urban rural migration projects
as well as a logistics platform. It commenced in October 2010
and we have completed approximately 231,000 square meters of GFA
and are currently building further approximately 225,000 square
meters of GFA at the moment.
Same as our Dezhou Project, Hengyang Project comprises of a
logistics platform and urban-rural migration businesses and we have
successfully completed the bidding of approximately 1.39 million
square meters of land as of today.
Finally, we have entered into a framework agreement with the
Zhoukou Municipal Government to invest in Zhoukou Project, which
will comprise of both logistics platform and urban-rural migration
businesses. We are current in the process of establishing
operating subsidiaries and will soon bid for lands for
development.
Yours truly,
Sio Kam Seng Chairman of the Board
ABOUT CHINA METRO-RURAL HOLDINGS LIMITED
China Metro-Rural Holdings Limited is a leading agricultural
logistics platform development and rural-urban migration and city
re-development company in China.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, which are, by
their nature, subject to risks and uncertainties. This Act
provides a "safe harbor" for forward-looking statements to
encourage companies to provide prospective information about them
so long as they identify these statements as forward-looking and
provide meaningful cautionary statements identifying important
factors that could cause actual results to differ from the
projected results. All statements, including statements
regarding industry prospects and future results of operations or
financial position, made in this press release are forward
looking.
Words such as "continue", "consider", "probably", "will",
"strive" and similar expressions may identify forward-looking
statements. These forward-looking statements include, without
limitation, statements relating to: the Company's future
performance, the Company's expansion efforts, the state of economic
conditions, the Company's market and the governmental
policy. These forward-looking statements are based on
assumptions and analyses made by the Company in light of its
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors the
Company believes to be appropriate in particular
circumstances. However, whether actual results and
developments will meet the Company's expectations and predictions
depends on a number of known and unknown risks and uncertainties
and other factors, any or all of which could cause actual results,
performance or achievements to differ materially from the Company's
expectations, whether expressed or implied by such forward-looking
statements.
CONTACT: China Metro-Rural Holdings Limited Investor Relations
Department Phone: (852) 2111 3815 E-mail: Email Contact
www.chinametrorural.com
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