Franshion Properties (China) Ltd. announced unaudited consolidated earnings results for the six months ended June 30, 2009. For the period, the company reported profit attributable to owners of the company was HKD 434,123,000 or HKD 5.40 per basic share on revenue of HKD 2,548,675,000 compared to profit attributable to owners of the company was HKD 1,116,654,000 or HKD 18.22 per basic share on revenue of HKD 1,758,848,000 for the same period of last year. Profit before tax was HKD 875,733,000 compared to HKD 1,846,433,000 for the same period of last year. Net cash used in operating activities of HKD 298,242,000 compared to HKD 455,758,000 for the same period of last year. Net debt as date was HKD 6,279 million.

The board of directors of Franshion Properties (China) Ltd. announced that Mr. HE Cao, the Non-executive Director, has resigned his positions as the Chairman of the company and a member of the Remuneration and Nomination Committee, and has been redesignated as an Executive Director, Vice Chairman and CEO of the company, and also the Chairman of the Investment Committee with effect from September 18, 2009; and Ms. LI Xuehua, the Executive Director, has resigned her positions as the CEO of the company and the Chairman of the Investment Committee, and has been redesignated as a Non-executive Director and Vice Chairman of the company with effect from September 18, 2009. The Board announced that the Board has appointed Mr. LUO Dongjiang as a Non-executive Director and the Chairman of the company, a member of the Remuneration and Nomination Committee and a member of the Investment Committee with effect from September 18, 2009. Mr. LUO Dongjiang was appointed as the Vice President of Sinochem Group in November 1998. He resigned his position as the Vice President of Sinochem Group subsequently due to his appointment as the General Manager of Sinochem International Corporation, and was redesignated as the Vice President of Sinochem Group in July 2001.

Franshion Properties (China) Ltd. reported earnings results for the first half ended June 2009. For the period, the company reported net profit plunged 61% year on year to HKD 434 million. Excluding the fair value accounting for investment properties, the net profit was HKD 419 million, reflecting an increase of 17% from a year earlier.