With Sales Volume of 9.16 Billion Yuan in September in the Adversity of the Market, Evergrande Basically Completes Full-year Target in Advance

BEIJING, Oct. 12, 2011 /PRNewswire-Asia/ -- On October 12, 2011, Evergrande (03333.HK) released the sales performance in Hong Kong. It achieved the contracted sales volume of 9.16 billion yuan in September, continuing the strong trend of double growth on a month-on-month and year-on-year basis, with eye-catching performance among the numerous Chinese real estate enterprises. Thus, Evergrande achieved the accumulative sales volume of 69.26 billion yuan within the year, basically completing the full-year target of 70 billion yuan in advance, with the completion rate of 98.9%. An original report from Sina Leju follows:

According to the report, in September, Evergrande achieved the contracted sales volume of 9.16 billion yuan, with an increase of 79.4% on a year-on-year basis, and the contracted sales area of 1.513 million square meters, with an increase of 90.1% on a year-on-year basis. By the end of September, Evergrande had achieved the accumulative sales volume of 69.26 billion yuan within the year, with an increase of 94.5% on a year-on-year basis, and the accumulative sales area of 10.458 million square meters, with an increase of 83.5% on a year-on-year basis, ranking first among the Chinese real estate enterprises.

According to the comprehensive market data, although being affected by the macro-control policies such as Purchase Restriction Order, four leading real estate enterprises - Vanke, Evergrande, China Oversea and Poly - achieved the sales volume of more than 50 billion yuan. Vanke continues its leading position with the sales volume of 97.08 billion yuan, and Evergrande ranked second with the sales volume of 69.26 billion yuan, showing a strong trend. It's worth mentioning that even among the above four leading enterprises, the growth rate was uneven. Compared to Evergrande's single-month sales increase of 79.4% on a year-on-year basis, Vanke, China Oversea and Poly suffered the sales decrease of more than 10% on a year-on-year basis, and Poly even had the sales decrease up to 26.21%.

According to the analysts, under the background of macro-control, the product cost-effectiveness is a significant factor to decide whether an enterprise could adapt to the macro-control. It is learned that Evergrande's average sales price is only 6,052 yuan/m2, with high-quality decoration. By contrast, Vanke's, China Oversea's and Poly's average sales price has exceeded 10,000 yuan/m2. Such cost-effectiveness advantage of Evergrande is generally considered as the first factor to attract the market participants with rigid demand, and is the key for it to keep the growth in the adverse market under the influence of purchase restriction.

Additionally, according to statistics, from January through September 2011, Evergrande had 104 projects on sale, among which, 40 projects were affected by the purchase restriction policy, accounting for 38.5% of the number of the affected projects; the sales volume of the projects affected by the purchase restriction policy was up to 34.61 billion yuan, accounting for 50.1% of the sales volume.

SOURCE Evergrande