With the Semi-annual Net Profit of 5.82 Billion Yuan, Evergrande's Many Achievements Rank in the First Place in China

BEIJING, Aug. 30, 2011 /PRNewswire-Asia/ -- Evergrande (3333.HK) released the 2011 Semi-annual Report in Hong Kong. With the net profit, main business income, core business profit, sales area and sales growth rate ranking in the first place, it has become the big winner under the new policies of real estate market in China. An original report from Sina Leju follows:

According to the Semi-annual Report, Evergrande achieved the main business income of 32.06 billion yuan in the first half year of 2011, with an increase of 57.4% on a year-on-year basis, 12 billion yuan higher than that of Vanke, which ranks in the second place; it achieved the corresponding net profit of 5.82 billion yuan and the core business profit of 4.81 billion yuan, ranking in the first place among the Chinese real estate enterprises respectively.

Evergrande achieved the sales area of 6.117 million square meters, with an increase of 83.2% on a year-on-year basis, ranking in the first place in China again, and the sales volume of 42.32 billion yuan, with an increase of 101.7% on a year-on-year basis; in view of the sales volume of 8.68 billion yuan in July, Evergrande achieved the accumulative sales volume of 51.0 billion yuan in the first seven months, with the full-year target completion rate of 72.9%.

Combining the semi-annual report data of other Chinese real estate enterprises, many Evergrande's indicators rank top; the total assets of the Company also reach 148.07 billion yuan, with an increase of 86.4% on a year-on-year basis. According to Evergrande, the clear orientation, small profits and quick returns, and development mode adapting to the market and policy directions are the root causes for Evergrande to keep the high growth. Thanks to the nationwide layout, the standardized operation and management and other factors, Evergrande has achieved good balance in the product quality and cost. Its products have extremely high cost-performance advantage, which are widely welcomed by the market.

In addition, according to the Semi-annual Report, the rapid development of Evergrande has brought considerable gains for the shareholders. In the first half year, Evergrande's basic earning per share was 0.38 yuan, with an increase of 137.5% on a year-on-year basis; the profit attributable to shareholders was 5.7 billion yuan, with an increase of 144.6% on a year-on-year basis; the rate of return for shareholders was 47.4%, with an increase of 14.2% on a year-on-year basis.

In particular, Evergrande's development potential cannot be ignored while its brilliant achievements are paid close attention to. According to the Semi-annual Report, at present, Evergrande has developed in 100 cities in China, with 181 projects nationwide and with the record total land reserve of 135 million square meters; meanwhile, Evergrande's total cash in hand is 28.69 billion yuan, with the available capital of about 61.4 billion yuan. According to many market participants, Evergrande created many achievements which ranked in the first place in the real estate market of China in the first half year, demonstrating that it has stretched the high-turnover operation mode to the maximum; and Evergrande's strategies in the land reserve and the capital strength have laid the foundation for its further development.

SOURCE Sina Leju

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