High Growth Promotes Evergrande to Rank No. 1 Among Chinese Real Estate Enterprises Listed in Hong Kong Stocks

BEIJING, Sept. 16, 2011 /PRNewswire-Asia/ -- The 5th "Value Ranking of Chinese Real Estate Enterprises - CBN 2011" was revealed in Shenzhen. Evergrande ranked first among the "TOP 10 Mainland Hong Kong Stocks on the Value Ranking of Listed Companies in the Chinese Real Estate Industry" by virtue of the excellent market performance in the past one year, and won such special honors as "Chinese Real Estate Enterprise Listed in Hong Kong with the Most Value". An original report by Sina Leju follows:

In 2011, in the face of the situation where the macro-control continues deepening, Evergrande actively expands the layout in the second- and third- tier cities, achieving excellent performance in the adverse market to meet the rigid demand by virtue of the high-cost-effectiveness high-quality products. According to the semi-annual report, Evergrande ranks first throughout the country in many industry key indicators such as sales area, area under construction, net profit, core business profit and main business income, with the total assets sharply increasing to 150 billion yuan, ranking first among the Mainland real estate enterprises listed in Hong Kong. By the end of August, Evergrande had accumulatively achieved the sales volume of 60.1 billion yuan, completing 85.9% of the full-year sales target. Generally predicted by the outside world, Evergrande might complete the full-year sales target of 70 billion yuan by October, and is expected to achieve the full-year sales volume of more than 100 billion yuan.

According to the market data, affected by such macro-control policies as purchase restriction order, many large-scale Chinese real estate enterprises have their growth rate slowed obviously. In August, Vanke, China Overseas and Poly, etc. had their sales volume decreased by more than 10%, and Greentown even had its sales volume decreased by 34%. In contrast, Evergrande had its sales volume increased rather than decreased, and it has kept the strong increasing trend on a year-on-year and month-on-month basis since February this year. Take August for example. Evergrande achieved the sales volume of 9.1 billion yuan, with an increase of 105% on a year-on-year basis; it achieved the sales volume of 60.1 billion yuan in the first eight months, with an increase of 86% on a year-on-year basis, ranking first in terms of growth rate among Chinese real estate enterprises.

Thus, according to many market participants, the key for Evergrande to achieve the strong growth in the adverse market is the clear product orientation. Evergrande's president Mr. Xia Haijun said at the news conference, "Evergrande's product orientation is the rigid demand of the first house-purchasers and the self-occupied ordinary people, with the medium-end and medium-to-high-end products accounting for 70%, tourist real estate accounting for 15%, and the high-end products accounting for 15%. Due to the reasonable product structure and the outstanding cost-effectiveness advantage, it is affected by the market macro-control to a small extent." He said, "40% of Evergrande's 95 projects on sale are located in the purchase restriction regions, with the actual sales contribution ratio up to 51.1%."

SOURCE Sina Leju

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