Evergrande Made a Record of RMB13.71b in Net Profit, 50% More Than Last Year

BEIJING, March 31, 2014 /PRNewswire/ -- Evergrande Real Estate Group Limited released on March 31 its 2013 Annual Report, which shows that the total assets of the Company reached RMB348.15 billion, 45.7% more than the previous year. The real estate sales increased both in price and quantity and the operating effects further improved, enhancing the Company's leading position in the industry. An original report by Sina Leju follows:

The annual report shows that the total assets of the Evergrande are RMB348.15 billion, 45.7% more than the previous year, ranking first amount mainland real estate enterprises in Hong Kong; the total floor area under construction is 39,480,000sqm, ranking first in China; the completed floor area is 19,382,000sqm, 41.1% more than the previous year, ranking first in China; the Company is operating in 147 domestic cities, ranking first in China in term of city numbers; and the total number of projects is 291.

Evergrande achieved an excellent business performance in 2013. The operating revenue was RMB93.67 billion, 43.5% more than the previous year, ranking first among domestic real estate enterprises in Hong Kong and the net profit was RMB13.71 billion. The data also show that Evergrande, ever since the procurement of land, has paid RMB137.0 billion in land price, which signifies the Company's robust and strong financial status. At the end of 2013, Evergrande recorded RMB53.65 billion in cash balance, ranking first in China and the available fund was RMB102.04 billion, laying a firm foundation for the sustainable development in the future.

Evergrande Real Estate Group Limited recorded sales over RMB100.0 billion in 2013, doubling the sales in a matter of three years only. In 2014, the sales target is set at RMB110.0 billion.

SOURCE Sina Leju