Evergrande Achieved Sales Volume of 33.73 Billion Yuan in the First Five Months, Completing 48.2% of the Full-Year Target

By Sina Leju, PRNE
Sunday, June 12, 2011

BEIJING, June 13, 2011 -

On June 10, 2011, Evergrande released its sales performance in
Hong Kong. The Company achieved the sales volume of 7.78 billion
in May 2011, and the contracted sales area of 1.132 million
square meters, with an increase of 92.1% and 76.9% respectively
compared to that of May 2010, and with an increase of 26.5% and
29.4% respectively compared to that of April 2011. An original
report by Sina Leju follows:

Evergrande thus achieved the sales volume of 33.73 billion yuan
accumulatively within the year, completing 48.2% of the full-year
sales target of 70 billion yuan, and there is no suspense that
Evergrande will complete the half-year target of 35 billion in
advance. In the face of the adverse market environment, the Group
kept the hot sale momentum in the first five months, and maintained
the growth on a month-on-month basis. The advantages of Evergrande
in the strong team executive force, the forward-looking strategic
layout and the boutique properties of high cost-effectiveness
enable its sales in a steady growth status all the time.

7 new projects were launched in May,
with the powerful sales volume of 2.52 billion yuan

According to the integrated market data, in the capital market
of Hong Kong where the mainland real estate enterprises gather,
Evergrande took the absolute leading position in sales amount and
sales area in the first five months. The fast sale brought by the
rapid development is the key reason for Evergrande to keep the
leading position.

Evergrande opened 7 new projects in May this year, 6 of which
are located in third-tier cities, with the total full-month sales
volume of new projects at 2.52 billion yuan. Evergrande has
effectively developed the markets of the second- and third-tier
cities, and avoided the national macro-control risks, enabling the
Group in a steady growth status under national macro-controls. The
Group has now had 78 projects on sale, which are distributed in 44
cities of China. It has the projects on sale in 26 third-tier
cities of 15 provinces and municipalities.

Successful sample for the layout in
the second- and third-tier cities

At present, more and more Chinese real estate enterprises focus
on the second- and third-tier cities. Under such background, the
advance layout of Evergrande enables it to become the leading real
estate enterprise with the wind vane effect in the second- and
third-tier cities. According to President Xia Haijun, Evergrande
has achieved the sales volume of nearly 34 billion yuan up to now
this year, completing approximately one half of the full-year
target, indicating that the forward-looking strategic layout of
Evergrande has played a positive role.

According to the insiders, in the first half year of 2011, under
the control of a series of macro-policies such as the “purchase
restriction order” and “price restriction order” in the mainland
real estate market, shrinkage of transaction conclusion appeared in
the first-tier cities. Evergrande, which developed in the second-
and third-tier cities in advance, conforming to the market demand
and the policy guidance, has made reasonable layout nationwide to
stabilize the sales growth by means of the choice products of high
cost-effectiveness. This also enables Evergrande to become one real
estate enterprises with sustained sales growth in 2011.

Jimmy, +86-10-5895-1000, zhoumi8 at gmail.com

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