各位讀者：

領匯自上市起連續七年保持增長，業績表現固然是衡量工作績效的重要指標；我們的服務遍及香港各區，工作果效亦滲透至多個層面；憑藉創意及持續優化大眾的購物體驗，我們一直致力對建設社區及推動地區經濟有所貢獻。

透過把可持續發展注入各業務環節，我們全力實踐提升社群生活質素的服務理念，最近獲納入備受國際推崇的「富時社會責任指數系列」，為香港首家獲此殊榮的房託基金，令我們十分鼓舞。

除了出版年報之外，我們也印製了可持續發展報告2013 （詳閱年報及可持續發展報告）。今年年報內的「主席報告書」內，蘇兆明主席突破一般回顧與前瞻的框框，從董事會的角度，闡述了領匯的角色及目標，指出我們的業務植根於社區，也必須回歸社區層面，清楚帶出領匯團隊的貢獻對社區的要義。

Dear Readers,

The Link has achieved sustained business growth since our listing in 2005, and financial results are naturally one of the key benchmarks for performance evaluation. Our services cover all major districts in Hong Kong and impact many different aspects of society. With our innovation and dedication to enhancing shoppers’ experiences, we strive to continue making positive contributions to our community and economy.

One of The Link’s missions is to enhance the living standard of our community. We put this mission into practice by incorporating sustainability into every aspect of our operations. Recently, The Link REIT was included in the FTSE4Good Index Series, a highly regarded recognition by international community measuring the performance of companies that meets globally recognised corporate responsibility standards. As the first Hong Kong-listed REIT to be included in the Index, this result is truly inspiring.

Besides the newly published Annual Report, we also produced the Sustainability Report (The full Annual Report and Sustainability Report). In the “Chairman’s Statement” of our Annual Report, instead of offering traditional reviews on strategic development, Chairman Nicholas Sallnow-Smith articulated The Link REIT’s roles and purposes in the community from the perspective of the Board of Directors, clearly explaining what we are “for” in the broadest sense by placing our business activities in a community context.

蘇主席指出，「領匯大部分資產是社區生活的一部分，也是居民生活的延伸空間。...... 鑒於資產類別的獨特性，我們一直致力提供多元化的購物選擇，既滿足居民需要，又提供舒適的環境，更全力凝聚社區。」

As Mr Sallnow-Smith says, “Most of our assets have for many years been aiming to meet the needs of local communities, forming part of community life and representing an extension of the living space of local residents…Our aim, given the unique type of asset we manage, is to work to achieve a mix of retail outlets that meets neighbourhood needs, and to deliver this in a setting that is comfortable and binds communities together.”

誠然，服務居民，凝聚社區，推動可持續發展，這些信念是一眾同事心之所繫，亦潛藏於我們的企業基因之內。多年來完成三十個商場提升項目，累積豐富經驗，團隊亦成為商場改造專家，以深思熟慮的規劃及部署，更有效率地推出更多項目。

配合地區層面的發展方向去專注營運，是我們的重要策略之一。將軍澳、屯門及天水圍等地區，交通基建設施不斷有所改善，人口迅速增長，更是我們近年投資的重點，透過進行提升工程及購入商場等，發揮我們的專長，為更多市民提供更佳的購物環境。

鮮活街市是本地飲食文化的重要一環。上街市買菜，與街坊及檔主分享烹調心得，是市民生活的一部分。作為香港九十多個街市的業主及經營者，我們推出活化計劃，為街市行業的持續發展闖出新途，並已完成大元及愛民兩個項目。提升後，街市環境整潔媲美超市，人情味不變，為大眾熟悉的購物設施注入活力，發揚本地飲食文化，更讓行業得以傳承，甚至發揚光大。

本著用心待客的宗旨，旗下商場近期還引入一系列的新設施及服務，如雨傘、輪椅及手提電話充電設備借用服務等。

各方持份者一直的支持及鼓勵，是我們工作的原動力。我們的團隊將本着專業精神及熱誠，不斷為社區的購物環境增值，讓更多居民享受留邨消費之便，亦為商戶擴闊客源，造就商機。

王國龍
行政總裁│2013年8月

Indeed, serving and strengthening the community, as well as promoting sustainable growth, are values planted deep within the hearts of everyone in our company. These values also form the base of our business. After completing 30 asset enhancement projects over the past few years, our team has gained rich experience and expertise in enhancing shopping centres. As a result, we have been able to streamline our planning process, and we are well-positioned to launch more projects.

One of our major strategies is to tie our business goals together with the direction of development within the neighbourhoods where we operate. With the rapidly growing population and improvement to transportation infrastructure in Tseung Kwan O, Tuen Mun and Tin Shui Wai in recent years, we have invested considerably in these neighbourhoods. Through asset enhancement and acquisitions, we build on our strengths to provide a better shopping environment for more shoppers.

Fresh markets are an integral part of the local culinary culture, and visiting fresh markets and sharing cooking tips with stall tenants form an important part of the daily life of residents. As the owner and operator of over 90 fresh markets in Hong Kong, we have pioneered enhancement projects that break new ground for the sustainable development of the fresh market industry. These projects, which we have completed at Tai Yuen and Oi Man Markets, have helped these neighbourhood fresh markets meet the challenges of ever-changing shopping expectation of the new generation. These two markets have recently been rejuvenated with more pleasant environment while retaining the human touch and conserving local culinary culture.

Our primary goal is to serve customers with care. With this objective in mind, we have recently started to provide more frequently used facilities and services, such as umbrella and wheelchair borrowing and mobile phone charging services.

The continuous support from our stakeholders motivates us to improve day by day. With our professionalism and passion, we will continue to enhance the shopping environment in our communities to better the lives of the residents of nearby housing estates, and to create more business opportunities for our tenants.

George Hongchoy
Chief Executive Officer │ August 2013