BEIJING, March 26, 2013 /PRNewswire/ -- Evergrande Real Estate Group, the leading real estate enterprise in China, issued the performance report in 2012 in Hong Kong on March 26, 2013. Under the rigorous macro-control market background of domestic real estate market, Evergrande maintains stable and healthy development trend with superior development strategy, market positioning in line of rigid demand and marketing strategy of small profits but quick returns, with several critical indexes ranking No. 1 and taking the lead in the industry. An original report by Sina Leju follows:
According to the performance report of Evergrande, the company has 229 projects distributed in 122 cities in almost all the provinces, autonomous regions of China except for Taiwan and have established 229 projects, with the total assets increased by 33.5% to RMB 238.99 billion at the end of 2012 compared with that of the same period of last year, ranking No. 1 among the real estate enterprises of Hong Kong. The accumulative sales volume throughout the year was RMB 92.32 billion, ranking No. 1 among the real estate enterprises of Hong Kong with an increase of 14.8% compared with that of the same period of last year; the business turnover was RMB 65.26 billion, ranking No.1 among the real estate enterprises of Hong Kong; the sales area was 15.485 million m2, ranking No. 1 within the national scope with an increase of 27% compared with that of the same period of last year. The area under construction is 38.98 million m2, ranking No. 1 within the national scope, with an increase of 6.7% compared with that of the same period of last year; the completed area is 13.74 million m2, ranking No.1 within the national scope with an increase of 21.2% compared with that of the same period of last year; The accumulative net profits throughout the year were RMB 9.18 billion, which consolidates the situation of the Chinese real estate enterprises with small profits but quick returns.
The market participants pointed out that the rigid demand market under the rigorous regulation played a pivotal role in the increase of Chinese real estate enterprises. As the scaled real estate enterprise which generates power in the rigid demand residential field in advance, Evergrande by insisting on the product sales strategy of high-performance ratio and by satisfying the house purchasing demand of the first house buyer and owner-occupied house buyer, lays a solid foundation on obtaining the excellent performance under the regulations.
In addition, Evergrande is doing well in capital and debt structure. According to the annual report, Evergrande held cash of RMB 25.19 billion as of December 31, 2012 and the available cash reached RMB 61.56 billion. After Evergrande's successful allotment of shares in January 2013, the net debt rate in the middle period of 2012 was decreased significantly, reduced by 26.3% in just six months, which was twice of the absolute decline value of the net debt rate of China Overseas Property, falling back again under the safety line of the industry.
According to the analysts, as the Chinese real estate enterprise with the largest volume of area under construction in China, Evergrande can ensure the stable and healthy increase by taking advantage of the reasonable debt structure and abundant financing volume, and it is sure that Evergrande can reach the target of RMB 100 billion this year.
SOURCE Sina Leju