BEIJING - April 14, 2014 // PRNewswire-FirstCall // - IFM Investments Limited (NYSE: CTC) ("Century 21 China Real Estate" or the "Company"), a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China, today announced that it has signed a regional franchise agreement with Gansu Chuanghe Times Investment Co., Ltd. ("Chuanghe Times"), a Lanzhou-based investment firm focused primarily on cultural industries, under which Chuanghe Times will operate a sub-franchising business in Lanzhou, capital of Gansu Province.
Lanzhou, Gansu's largest city, with a population of 3.6 million, will be Century 21 China Real Estate's 24th regional sub-franchise.
"This agreement will give Century 21 China Real Estate a strong foothold in one of China's fastest-growing regions," said Mr. Donald Zhang, chairman and chief executive officer of Century 21 China Real Estate. "Regional sub-franchises have been part of our long-term strategy to maintain a large, cost-effective network footprint throughout China, and we're pleased to be working with Chuanghe Times as we expand our reach further into western China."
Mr. Zhang added, "In the coming quarters, in addition to seeking regional franchise agreements, we will begin signing agreements with franchise stores on an individual basis, as we aim to return to profitability within the year."
IFM Investments Limited ("Century 21 China Real Estate" or "CTC") is a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China. CTC primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services, mortgage management services, primary services, commercial services, and fund management services. CTC has experienced substantial growth since it commenced operations in 2000, and received numerous awards and recognition as franchisor and real estate services provider for its service quality and business achievements. Century 21 China Real Estate became a public company in January 2010 and its ADSs, each of which represents 45 ordinary shares of CTC, currently trade on the New York Stock Exchange under the symbol "CTC." For more information about CTC, please visit http://www.century21cn.com/english.
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "confident," "continue," "estimate," "expect," "future," "intend," "is currently reviewing," "it is possible," "likely," "may," "plan," "potential," "will" or other similar expressions or the negative of these words or expressions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Among other things, the Business Outlook section and quotations from management in this press release, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on the Company's financial condition and results of operations for one or more periods. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this press release. Potential risks and uncertainties include, but are not limited to, the risks outlined in the Company's Annual Report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission. Unless otherwise specified, all information provided in this press release and in the attachments is as of the date of this press release, and the Company does not undertake any obligation to update any such information, except as required under applicable law.
IFM Investments Limited
SOURCE Century 21 China Real Estate (IFM Investments Limited)
Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp., a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.