Yintai Commercial Building Wenzhou's First 'City' Signed Contract to Settle in Wenzhou Atlantic Shopping Center

On September 24, 2014, Intime Commercial (Group) and Wenzhou Atlantic Shopping Center Construction Co., Ltd. officially signed a cooperation agreement in Wenzhou to jointly build the "Atlantic Intime City". Mr. Wang Qiang, Vice President of Intime Commercial (Group), and Mr. Sun Huakai, Chairman of Wenzhou Atlantic Shopping Center Construction Co., Ltd. attended the signing ceremony. As a result, Intime Commercial will complete its shopping center layout in Wenzhou city by operating the Wenzhou Atlantic Shopping Center, radiating throughout the entire Wenzhou city and surrounding counties and cities. Previously, Intime Commercial had opened a department store in Wenzhou - Wenzhou World Trade Intime, and will open its second Intime department store in Yueqing in December this year.

At present, the main commercial circle in Wenzhou city mainly operates department stores. The Atlantic Shopping Center is located in the core area of Ouhai District, Wenzhou, adjacent to Wenzhou High speed Railway Station to the west, Ouhai Central Business District to the east, Jinliwen Expressway to the south, and Ouhai Avenue to the north. Atlantic Intime City is expected to open at the end of 2015 and will become the largest fashion commercial complex in Wenzhou's main business district, with strong radiation and competitive strength.

Atlantic Yintai City is one of the most promising commercial districts in Wenzhou in the future, following the Wuma commercial center at the city level. The shopping center has a building area of 210000 square meters and more than 3000 parking spaces, providing a one-stop shopping experience that integrates shopping, dining, leisure, entertainment, culture and other rich formats. With the entry of Intime, Atlantic Intime City will quickly become the preferred destination for fashionistas, fashion pioneers, and trendy nouveau riche for leisure shopping, and become a large shopping center for high-end retail services in Wenzhou.

Yintai Commercial (Group) Co., Ltd. is a consumer solution provider mainly engaged in department store retail, shopping centers, and e-commerce. As the largest department store enterprise in Zhejiang Province, Intime Commercial focuses on the four major central cities of Hangzhou, Ningbo, Wenzhou, and Jinhua. Currently, it operates 36 department stores and 10 shopping centers. In 2006, Intime Commercial Group first entered Wenzhou and sold over 1.1 billion yuan by 2013, making it the largest commercial retail enterprise in Wenzhou and a major taxpayer in Lucheng District.

After Yintai Commercial enters the Atlantic Shopping Center, it will fill the gap in Yintai's business model in Wenzhou shopping centers, further consolidate its advantageous position in commercial retail in Zhejiang region, and open a new chapter in the fashion business district of Wenzhou Ouhai Central City.