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“Creating the sustainable city value and pursuing sustainable happiness,striving to become the creator of beautiful city life with more sustainable development capacity.”
Company Profile

GRANDJOY HOLDINGS GROUP CO., LTD. (GRANDJOY, formally known as COFCO Property (Group) Co., Ltd.) is a specialized company affiliated to China Oil & Foodstuffs Corporation (COFCO). COFCO, dominated by real estate business, is one of the first batch of 16 central enterprises approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), ranking 112 among the world’s Fortune 500 by its assets in 2021. SHENZHEN BAOHENG (GROUP) Co., Ltd., former company of GRANDJOY, was listed in Shenzhen Stock Exchange on October 8, 1993 (Stock Code: 000031.SZ). It was purchased by COFCO in 2005 and changed its name as COFCO Property (Group) Co., Ltd. Besides, it accomplished the material assets reorganization at the beginning of 2019 and formed the “A-share Holding Red Chip” architecture, owning Joy City Property Limited which is listed in The Stock Exchange of Hong Kong Ltd. (Stock Code: 00207.HK).

GRANDJOY adheres to the “dual-wheel dual-core” development model, and the two-wheel drives of “holding + selling” to seek for steady development; and keeps innovating new value growth points on the basis of the “product + service” empowering.

GRANDJOY is oriented at the strategy of becoming the “Urban Operator and Beautiful Life Service Provider”. By taking the mission of “creating the sustainable city value and pursuing sustainable happiness”, GRANDJOY strives to become the creator of beautiful city life with more sustainable development capacity.

GRANDJOY drives multi-format lixnkage to facilitate urban upgrades and service improvement. It has deployed its business in nearly 30 tier-1 and tier-2 core cities like Beijing, Shanghai, Shenzhen, Chengdu, and Xi’an in China, covering business areas of commerce, residence, industrial real estate, hotels, office buildings, long-term rental apartments, and property services. baxsed on its total assets of over 180 billion RMB, GRANDJOY has built up a “GRANDJOY” eco-cycle, integrated rich formats, optimized urban deployment, balanced assets structure, and beautiful life scenes of the people together.

In the field of commercial real estate, GRANDJOY has successfully built up three product lines of Joy City, Joy Breeze, and Shine Hills, orienting as a fashionable brand for targeted customer groups of young and mature middle-class. Through continuous innovating the offline scene experience and big data system, it realizes refined operation, and has deployed over 20 projects, which make it the star force leading the upgrade of urban resident consumption and way of living.

In the residential real estate sector, GRANDJOY adheres to the product concept of “Enjoy Beauty of Life”, and has formed four brand residential product lines, including “THE ONE SERIAL PROPERTIES / SHINE CITY SERIAL PROPERTIES / SPLENDID CITY SERIAL PROPERTIES / DREAM CITY SERIAL PROPERTIES”. GRANDJOY spares no efforts in satisfying people’s desire to beautiful life at different stages of life by its high quality life space and services.

In innovative development and excellent investment fields like industrial properties, office buildings, hotels, and long-renting apartments, GRANDJOY gathers cross-industry resources and create win-win business environment to provide best guarantee for key national strategic industries like science and technology, as well as health industries. Relying on the unique 3C intelligent operation system, it realizes high-efficient operating of enterprise, and continuously enhances values of the regions in which its properties locate; creates Le Joy Hotel brand to provide characteristic experience for business travelers; and launches the long-renting apartment brand “Joyer Apt.” in line with the policy of “developing house renting and purchasing together”, thus satisfy the demands of the residents on house renting.

Standing at the new starting point of development, GRANDJOY will continue to keep practicing high-quality development, improve core competitiveness and profit-gaining capacity, realize intensive growth, and create sustainable values for shareholders, customers, and staff. GRANDJOY will spare no effort in chasing for better life, guiding urban development, and fulfilling dreams of the times.

Development Model

3"Dual-wheel" refers to the "dual-wheel drive" of sales-type business and holding-type business. This is a spatial concept, which guarantees the company to safely pass through different development cycles and realize steady development; "dual-core" refers to “product + service”. This is a content concept, in which, the product is the cornerstone of value creation and the core for competitiveness enhancement. A company will have no competitiveness, vitality, or recognition points without the power of product; on the other hand, service is to serve people’s demand on better life from perspectives of industrial, urban, and people’s requirements. By inserting “dual-core” winds to the "dual-wheel" model, GRANDJOY will create new value growth points baxsed on steady and prudent development.

Urban layout
By the end of 2018, GRANDJOY had accumulatively entered 26 cities baxsed on its principle of focusing on the core cities and surrounding radiation areas of urban agglomerations, and had formed a layout pattern of “First-tier core cities – Sencond-tier central cities – Third-tier provincial central cities”. In the next three years, GRANDJOY will continue to take the “3 + X” urban agglomeration as the main layout line to implement distinguished policies for different cities, guarantee precise investment, and control risk, thus to strive to further expand its business to 45~50 cities by 2021 baxsed on the 26 cities currently.