20150623-CREDIT_SUISSE-华润置地（1109）：WHICH_IS_MORE_IMPORTANT，SHENZHEN_NEW_LAUNCH_OR_UPCOMING_MALLS？-906489

We understand from CR Land＇s management that the high-profile Shenzhen CR City＇s（i.e.，Dachong project）new phase is scheduled to be launched on 20 June 2015，with ASP likely to exceed the Rmb55k/sq m the company originally guided for（or 28% higher than that of Phase I in October 2014），after a month＇s delay for getting pre-sales permits.