(28 October 2014, Hong Kong) New World Department Store China Limited (“NWDS” or the “Company”; Hong Kong stock code: 825), one of the largest owners and operators of department stores in Mainland China, is pleased to announce that it has garnered the honor of the “Most Promising Companies on Corporate Governance” in the 10th Corporate Governance Asia Recognition Awards 2014. In addition, the Company also won the “Citation for Design” in 2014 Best Annual Reports Awards for the first time and the gold award in “Annual Report – Overall Presentation: Retail – Department Store” category in 2014 Galaxy Awards with its FY2013 annual report. These awards are an acknowledgement of the Company’s outstanding corporate governance and communication in domestic and international arena. 

The 10th Corporate Governance Asia Recognition Awards 2014 is organized by Corporate Governance Asia, the most authoritative journal on corporate governance in the region. The awardee must have a previous publicly-acclaimed track record for corporate governance. Also, it has to be involved in a specific publicly-known activity directly related to improving or enhancing the standards of corporate governance and has implemented significant and specific corporate governance-related reforms during the past 12 months. NWDS puts high importance to corporate governance and seeks continuous improvement on its corporate governance standard through setting up relevant mechanisms and policies such as the establishment of NWDS Sustainability Steering Committee and Disclosure Committee, striving to be the industry’s role model. 

Maintaining close communication with stakeholders is the key to excellent corporate governance. With 20th anniversary as the design theme, the Company’s FY2013 annual report used a blossoming tree on cover and a thriving garden as background to symbolize its prosperous growth under the two-decade blessings from its stakeholders and customers and helped the Company secure the “Citation for Design” in 2014 Best Annual Reports Awards for the first time. Found by The Hong Kong Management Association in 1973, the award aims to encourage the publication of accurate, informative, well presented and timely annual reports for shareholders, employees and others who may have interest in the performance and activities of the organization, and to reward companies and organizations for their achievement in publishing outstanding annual reports. Among over 100 entries every year, only about 30 organizations are qualified to garner the honor. The judges praised highly on the overall standard of this year’s entries and specially mentioned the striking cover design and highlight pages of the Company’s annual report, which made it one of the winners of the “Citation for Design” among other entries. 

Furthermore, the annual report also won the gold award in “Annual Report – Overall Presentation: Retail – Department Store” category in 2014 Galaxy Awards organized by US-based MerComm, Inc, one of the biggest, most talked-about and most prestigious annual report competitions in the industry worldwide. This is the third year for the Company to win awards in the competition. All entries had undergone a stringent evaluation based on creativity, effectiveness and overall expression by a professional judging panel. 

Mr. Philip Cheung, Managing Director and Executive Director of NWDS said, “NWDS has always recognized the importance of good corporate governance practices. Through vivid charts, simple design, clear text descriptions in annual reports and other communication means, we strive to build seamless communication with stakeholders and uphold a high level of corporate transparency so as to become a reliable company to investors and stakeholders. We are glad that we won three corporate governance and annual report related awards, which is indeed huge recognition and encouragement to our sound performance in the respective area. Look forward, we will strive for excellence by continuously improving communication with stakeholders to maintain the highest level of corporate governance.”

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