With Enough Confidence Under the Situation Changes, Evergrande Improved 2012 Full-Year Sales Target to 80 Billion Yuan

BEIJING, Jan. 17, 2012 /PRNewswire-Asia/ -- On January 16, Evergrande revealed at the "News Conference on 2011 Business Review and 2012 Sales Target Prospect" held in Hong Kong that Evergrande achieved the 2011 full-year sales volume of 80.39 billion yuan, ranking first among the SEHK mainland real estate enterprises. Meanwhile, Evergrande announced the set 2012 full-year total contracted sales target of 80 billion yuan, 14.2% higher than the 2011 target. An original report from Sina Leju follows:

According to the data, in 2011, Evergrande achieved the full-year sales volume of 80.39 billion yuan, completing 114 .8% of the full-year contracted sales target of 70 billion yuan, with an increase of 59 .4% compared to that of 2010, and achieved the contracted sales area of 12.199 million square meters, with an increase of 54.7% compared to that of 2010. In addition, by December 31, 2011, Evergrande had achieved the cash amount of 27.21 billion yuan and the unused bank credit line of 37.15 billion yuan, with the total available capital of 64.36 billion yuan; Evergrande had achieved the land reserve of 137 million square meters, with 187 projects in China. Among the 121 projects on sale, there were 65 new projects in 2011.

According to the insider analysis, Evergrande overfulfilled its target ahead of schedule under the background of adverse market, mainly attributing to its definite product positioning, small profits but quick turnover, meeting rigid demand, the sales strategies of fluctuating in line with market conditions, as well as the strategic layout and business strategies in conformation with the market and the policy. In particular, the strategic layout in the second- and third-tier cities enabled Evergrande to complete its glorious achievements under the rigor macro-control. According to statistics, in 2011, the full-year sales volume of the projects on sale in the second-tier cities was 48.78 billion yuan, and the full-year sales volume of the projects on sale in the third-tier cities was 28.24 billion yuan, with the total sales volume contribution ratio of 95 .8%.

It is worth noting that at the sales performance news conference, Evergrande announced the 2012 sales target of 80 billion yuan. Under the overall market situation, it is a rare occasion to increase the target this year on the basis of 70 billion yuan – the target last year. According to Hui Ka Yan, Chairman of the Board of Directors of Evergrande Group, Evergrande has always overfulfilled the sales targets over the years. After the high-speed growth for many years, each indicator has achieved a certain scale. It can be said that Evergrande has entered into a stable growth period. In terms of the land reserve strategy, according to Hui Ka Yan, in the future, Evergrande will continue following the principle of "replenishing what has been consumed", so as to ensure the long-term sustainable development.

SOURCE Sina Leju