Stock Market Plunges – Uni-President Lo Chih-Hsien: Global Weak Demand Leads to Stock Market Tension and Increased Volatility

By admin Apr 20, 2024

Unified Group (1216-TW) has built the new-generation mixed-use commercial complex “ParK* Avenue” in Tainan, covering an expansive area of up to 1500 square meters. The grand unveiling of the project took place today (20th), amidst a significant plunge of over 1000 points in the concentrated TAIEX market, closing with a steep drop of 774.08 points. Uni-President Group Chairman Lo Chih-Hsien pointed out that the current global economic fragility has heightened tensions worldwide regarding stock market developments. The asymmetric relationship between capital market value and actual business value has created a paradoxical situation.

Lo Chih-Hsien further noted that Uni-President is fortunate to be engaged in industries that cater to basic consumer needs, thereby experiencing relatively minor fluctuations.

Commenting on the present global demand scenario, Lo Chih-Hsien emphasized the fragility of the economy, attributing the stock market’s substantial decline to the reduced profit expectations of large enterprises. This decrease signifies weak demand. Additionally, geopolitical risks, coupled with economic concerns on a global scale, contribute to the current apprehension.

The land on which ParK* Avenue, unveiled today, sits is owned by the family of Uni-President’s founder, Kao Ching-yuan. Lo Chih-Hsien mentioned that this commercial property in Yongkang, Tainan, is a rare pure commercial land, approached from the perspective of meeting consumer needs. There are currently no plans to develop it into a real estate project. Regarding the investment amount, it is estimated at around 4-5 times that of a typical shopping mall.

Uni-President Group aims to establish the new-generation mixed-use commercial complex “ParK* Avenue” as an interactive platform for consumers to optimize services, including exploring further enhancements for convenience stores.

ParK* Avenue, unveiled today, encompasses nearly 1500 square meters and includes unified convenience stores (2912-TW), Cosmed, Starbucks, and Uni-President Precision under one roof. 7-ELEVEN Fresh Kangqiao store debuts the “Fresh” innovative on-the-go dining concept, offering over 50 types of freshly prepared dishes ranging from main course meals, light snacks, desserts, ice cream treats, to coffee and beverages, emphasizing a “one-stop dining” experience.

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