Africa Hope, Inc.

Jul. 10, 2009 (China Knowledge) - Better Life Commercial Chain Share Co Ltd<002251>, which is principally engaged in wholesale and retail business in China, on Jul. 6 started construction on an expansion project at an existing commercial property on Jianshe Road, Xiangtan City, Hunan Province, sources reported.

The Shenzhen-listed company plans to inject RMB 500 million into the project, which covers a combined floor area of nearly 20,000 square meters (sq m). The project started operation in 2001 and realized RMB 400 million in sales revenue last year.

After the expansion, the project will have a combined floor area of 120,000 sq m and will include shops, restaurants, a wax museum and an ice rink. The expanded project will open for business at the end of this year.

Reportedly, the company also intends to launch two stores in Hunan Province, one in Hengyang City with a potential floor area of 30,000 sq m and the other in Yongzhou City with a potential floor area of 40,000 sq m.

The enterprise has set up a total of 17 stores in Hunan Province and Jiangxi Province in the past eight years. In 2009, the firm aims to add stores with a combined floor area of 210,000 sq m and to exceed RMB 2 billion in total sales revenue.