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Hong Kong, Aug 21, 2012 - (ACN Newswire) - Tao Heung Holdings Limited ("Tao Heung", or together with its subsidiaries the "Group;" stock code: 573), a leader in Chinese culinary trends, has announced that two new restaurants under the "Tao Heung" and "Cheers Palace" brands had opened in Nanning, Guangxi Zhuang Autonomous Region, and Shenyang, Liaoning Province. The two new stores are the Group's first two restaurant outlets outside of Hong Kong and Guangdong Province, which represents a big step forward towards its goal to build a nationwide restaurant network, and the total number of PRC stores has increased to 20. The new Nanning and Shenyang restaurants commanded an investment of approximately RMB30 million and RMB40 million respectively, funded by internal resources.
Mr. Eric Leung, CEO of Tao Heung, said, "We are pleased to collaborate with the PRC integrated property developer China Resources Land again to open two new restaurant outlets in the high-end commercial property "The MixC" at prime locations within Nanning and Shenyang following the debut of our "Cheers Palace" branded restaurant in The MixC Shenzhen. The excellent performance of our PRC operations has become a major growth driver. We will speed up expansion by opening seven restaurants in Zengcheng, Wuhan and Panyu, etc, during the second half of the year. The total number of PRC store will reach 25 in the end of 2012, and the restaurants in Hong Kong and the PRC would bring the tally to over 100 by then. We expect the number of restaurants and food sales points including the Tai Cheong Bakery to reach 200 by the year of 2017, realising Tao Heung's goal of creating a nationwide catering network."
The two new stores incorporate the strengths of the "Tao Heung" and "Cheers Palace" brands. "Tao Heung" is renowned for its Cantonese cuisine and Hong Kong style hotpot which targets business and family customers. "Cheers Palace" is an award-winning banquet brand in the PRC which offers a wonderful venue for wedding parties and splendid banquets.
The new Nanning store, covering a total GFA of 4,102 square meters ("sq. m."), commenced trial operation in early August this year with its grand opening scheduled for 1 September 2012. The opening was celebrated with a unique "Treasure Your Love - Show Your Love" promotional activity. Departing from the traditional grand opening ceremony, the special launch married a wedding event and an opening ceremony. The celebration received an enthusiastic response from prospective customers while it offered a first-hand appreciation of Cheers Palace's comprehensive facilities and services.
The new Shenyang store commenced operation on 19 August 2012. Covering a total GFA of approximately 4,377 sq. m. with a total capacity of 60 tables, it is an ideal location for wedding parties and all types of banquets, offering an elegant venue.
Details of Nanning new store
Address: Shop 401, 4/F, The MixC, 136 Minzu Road, Qingxiu District, Nanning, Guangxi Zhuang Autonomous Region, China
Tel: +86 - 771 - 5719 898
Date of Grand Opening: 1 September 2012
Details of Shanyeng new store
Address: Shop 666, 5/F, The MixC, 288 Qingnian Avenue, Heping District, Shenyang, Liaoning Province, China
Tel: +86 - 024 - 3125 5050 / +86 - 024 - 3125 5252
Date of Grand Opening: 19 August 2012
About Tao Heung
Established in 1991, Tao Heung has embraced the principle of "innovation" with the aim of becoming an esteemed and premier Chinese restaurants group. Currently, the Group operates a network of 113 Chinese restaurants and bakery shops in Hong Kong and Mainland China under 15 brands. These include Tao Heung, Tao Square, Pier 88, Hak Ka Hut, Cheers Restaurant, Chao Inn, Chung's Cuisine, Shanghai Inn, TCT, One Roast, HITEA, HIPOT, Joyous One, Cheers Palace and Tai Cheong Bakery. Tao Heung was listed on the Main Board of The Stock Exchange of Hong Kong Limited in June 2007.
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Aug 21, 2012
Source: Tao Heung
Topic: Press release summary
Sectors: Financial General, Business General
From the Asia Corporate News Network
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