Rock Square is one of the largest shopping malls located within the well-established Jiangnanxi retail cluster in the Haizhu district, the second most populous urban district in Guangzhou. The mall is directly connected to Shayuan metro station, which serves Line 8 that links Guangzhou's eastern and northern areas, and Guangfo Line that connects Guangzhou with Foshan. In 2023, Rock Square underwent AEI to better cater to the growing middle and high-income families and professionals in the surrounding densely populated residential estates. This has transformed Rock Square into a premier one-stop shopping and lifestyle destination for more than one million residents within a threekilometer radius. The mall offers a wide range of fashion, dining and entertainment options for modern lifestyle needs, featuring well-known domestic and international brands such as AEON, Nio Space, ZARA, US KIMMY, SUSHIRO and Meland. Rock Square attained its green certification in 2022. GROSS REVENUE RMB231.5 MILLION NET PROPERTY INCOME RMB157.3 MILLION PROPERTY VALUATION RMB3,410.0 MILLION Trade Sector By GRI (%) By Committed NLA (%) Food & Beverage 38.3% 28.6% Services 11.2% 4.8% Fashion & Accessories 8.2% 9.7% Beauty & Healthcare 7.5% 7.6% Leisure & Entertainment 7.0% 14.1% Supermarket 5.2% 20.2% Jewellery / Watches 4.7% 1.5% Gifts & Souvenirs 3.6% 2.0% Toys & Hobbies 3.5% 2.5% Education 2.8% 3.5% IT & Telecommunication 2.8% 1.4% Sporting Goods & Apparel 1.8% 1.5% Home Living 1.6% 0.8% Shoes & Bags 1.0% 0.6% Others 0.8% 1.2% ROCK SQUARE 13.4% LEASE EXPIRY PROFILE (%) 2024 2025 2026 2027 2028 Beyond 2028 % of GRI % of Commited NLA 35.8% 19.7% 14.1% 7.4% 9.6% 21.7% 12.1% 9.5% 9.5% 14.3% 32.9% LEED Gold Certified ANNUAL REPORT 2023 79 Financials Framework Portfolio Performance Leadership Overview
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