Evergrande Ranks Second Place in Comprehensive Strength Among Listed Real Estate Enterprises with the Sales Amount of 6.15 Billion Yuan in April

BEIJING, May 11, 2011 /PRNewswire-Asia/ -- On May 11, 2011, Evergrande (3333.HK) released the Group's sales performance of April in Hong Kong. In the face of the adverse market environment and the continual macro-control, Evergrande achieved the sales amount of 6.15 billion yuan in April, continuing keeping the powerful state of increase on year-on-year and month-on-month basis. An original report by Sina Leju follows.

Meanwhile, according to the Assessment Research Report of China's Real Estate Listed Companies in 2011 released on the same day, Evergrande ranked second place on the "List of Comprehensive Strength of China's Real Estate Listed Companies in 2011", and became the real estate enterprise which developed in 62, the largest number of cities in 2010. The List was published jointly by China Real Estate Information Group and China Real Estate Assessment Center, one of the most authoritative rankings in the industry.

According to the performance announcement, Evergrande achieved the sales amount of 6.15 billion yuan in April, with an increase of 64.5% compared to that in the same period of 2010, which was 3.74 billion yuan, and with an increase of 11.5% compared to that in March, which was 5.52 billion yuan; the contracted sales area was 875,000.00 square meters, with an increase of 51.3% compared to that in the same period of 2010, which was 578,000.00 square meters, and with an increase of 14.4% compared to that in March, which was 764,000.00 square meters. From January to April 2011, the sales of Evergrande amounted to 25.95 billion yuan, with an increase of 113.9% compared to that in the same period of 2010, which was 12.13 billion yuan; the accumulative contracted sales area was 3,731,000.00 square meters, with an increase of 97.1% compared to that in the same period of 2010, which was 1,893,000.00 square meters. By the end of April, the Group had completed 37% of the full-year sales target of 70 billion yuan.

The overall real estate market of China in April still lingered in a series of macro-control policies such as purchase restriction and loan restriction. When most real estate enterprises had poor sales performance, Evergrande continued occupying the leading position of the second- and third-tier markets, and became a leading real estate enterprise with the effect of wind vane under the adverse environment with high-cost-effectiveness products to meet the market's rigid demand. The market personage held the opinion that thanks to the proactive strategic deployment, the super-high product quality and the super-strong standardized operation advantage, Evergrande still could keep the steady finance, the powerful sales, the reasonable regional layout and other excellent performances under the effect of continual macro-control.

The competitiveness of Evergrande's excellent performance is also well regarded by the international capital market continuously. Goldman Sachs increased the EPS of Evergrande this year and next year by 11.4% and 14.1%, and maintained the Buy rate for Evergrande, with the target price increased to HKD 8.08. With regard to the prospective layout of Evergrande in the second- and third-tier cities, Goldman Sachs said, the ability of Evergrande to acquire lands and to develop and sell projects in the regions with less policy effects allows Evergrande to have stronger-than-expected sales prospect over the next several years.

SOURCE Sina Leju