Evergrande Sold Over 10 Billion Yuan in June; Price and Volume Rising for 4 Consecutive Months

 Evergrande Sold Over 10 Billion Yuan in June; Price and Volume Rising for 4
                              Consecutive Months

PR Newswire

BEIJING, July 8, 2013

BEIJING, July 8, 2013 /PRNewswire/ -- On July 8, Evergrande issued a short
report on its performance in June. According to the report, Evergrande
achieved remarkable performance in the real estate sector: The total sales
volume was 10.42 billion yuan (in RMB, the same below), a year-on-year growth
of 26.7% and a month-on-month growth of 13.1%, both ranked first of all
domestic real estate enterprises in China; the total area, 1,425,000 m2, was
the largest of all peer enterprises in China, a year-on-year growth of 4.5%
and a month-on-month growth of 10.8%, again both ranked first of all its
peers. Evergrande has seen a double-digit growth of four month since March, in
spite of the grim market environment. An original report from Sina Leju
follows.

In the first half of this year, the Group realized a total sales volume of
44.61 billion yuan, a year-on-year growth of 27.3%, accounting for 44.6% of
the annual goal of 100 billion yuan, which was higher than the same period of
last year by 0.8 percentage points. The accumulative area sold is 6,647,000
m2, a year-on-year growth of 15.2%.

Both price and sales volume have risen, with the average price per meter
exceeding 7,000 yuan again

With the five-article policy of the State Council implemented and the market
adjusted accordingly, the market has been dominated by rigid demands and the
market turnover has begun to rise at a significant rate. According to latest
monitoring statistics released by China Index Research Institute, the number
of enterprises with a sales volume exceeding 30 billion yuan has been
increased from six in the same period last year to nine. The market share of
leading enterprises in this industry has increased. According market analysts,
Evergrande's double-digit growth of the total sales volume and area sold in
the recent four consecutive months were largely due to its quality products,
its market-oriented sales strategy and its prudently calculated quantities
launched at a accurately designed sales pace.

While maintaining the double-digit growth in terms of the sales volume and
area sold, Evergrande has also promoted its average price to over 7,000 in
June and achieve continuous rises in terms of both quantity and price since
March. According to the report, the average sales price of Evergrnde's
products in June was 7,310 yuan/m2, a year-on-year growth of 2.1%, and the
average sales price of the first half of 2013 was 6712 yuan/m2, a year-on-year
growth of 10.5%.

Robust financial strength guarantees the realization of the sales goals of 100
billion yuan

With the continuous implementation of the national real estate control policy
and the tightening monetary market, the capital-intensive real estate industry
has been faced with huge challenges and the financing capacity of the
enterprises has decisive impacts on their survival and growth.

It is reported that Evergrande has recently established an in-depth strategic
cooperation agreement with China Postal Savings Bank and other financial
giants and has won a one-lump credit line of 5 billion yuan, which enhanced
its financial capacity to sustain its future development. The cash balance of
the Group was reported to be 40.56 billion yuan as of June 30, 2013. So far,
Evergrande has won a total banking credit line of over 60 billion yuan,
resulting in a total of over 100 billion yuan available for investment.

It is further reported that since May, 2013, Evergrande has forced its way
into Beijing, Guangzhou and other Tie-1 cities while maintaining its
investment efforts in Chongqing, Dalian and other Tie-2 and Tie-3 cities,
further increasing its market share.

SOURCE Sina Leju

Contact: Zhedong Chen, +86 186 8805 8808, 56125796@qq.com
 
Press spacebar to pause and continue. Press esc to stop.