Yonglun Group sells the Libao Center bank shop for about 300 million, holding it for 8 years with a loss of about 60%

Yonglun Group recently sold the 1st floor shop 4 and the 1st and 2nd floor units of the Golden Centre for approximately HKD 300 million; the total property area is about 28,712 square feet, with a price per square foot of over HKD 10,000. The shop was rented by China CITIC Bank for many years, with a monthly rent that once reached HKD 1.5 million. The bank moved out earlier, and the transaction is now on an "as is" basis. Market news indicates that the buyer is Chen Zhiming, the owner of the Japanese cosmetics brand FANCL's agency, or related individuals.

Data shows that in 2010, shop king Deng Chengbo purchased the property from China CITIC Bank International for HKD 408 million, held it for two years, and sold it to the wife of Hysan Development Chairman Hu Yingxiang, Hu Guoxiu Ping, for HKD 529 million, making a profit of about HKD 121 million. In 2017, Hu Guoxiu Ping sold the shop to Yonglun Group for HKD 729 million, making a profit of HKD 200 million. In this transaction, Yonglun Group has held the property for about 8 years, with a paper loss of nearly 60%