Liping Cai – William Blair
Okay, thanks a lot.
Thank you, Liping.Operator(Operator Instructions). Your next question comes from the line of Ella Ji with Oppenheimer. Please proceed.Ella Ji – OppenheimerHi, good evening, Donald, Harry, and Kevin. Relating to – regarding your primary and the commercial business you mentioned that you have 14 projects, how many of them are in the purchase restriction markets?Harry LuI think that luckily none of the project for that – latest acquired a company in Shanggu, are commercial properties. So even though there is – some of the projects are in the city of Beijing or some in the restricted city, but they are not referred to a restriction policy, because it’s a commercial properties.Ella Ji – OppenheimerGreat. And you said that the commission rate for those projects are on 3% or do you think that’s maintainable in the future?Kevin WeiWell, actually the current quarter 3% is obviously based on the 37,000-square meter – actual square GFA sold, and the range is from 1.4% from one particular to 600% in another project. So it’s totally a future weighted average of blended commission rate will be dependent on the product mix, if you will. So the more – there is a quite a bit of these 3 million GFA – are probably going to be in the bulk range of 1.5% and to 2% kind of range. So the more of those units got sold, the effective commission rate could potential come down. Like we said before, I mean some of our other project we earned more of a premium, if you will, when we achieve certain targets. So each quarter these effective commission rate could vary going forward, but we have been enjoying fairly a decent commission rate so far, although the volume are quite low. Going forward, we certainly expect the volume would be higher, but potentially the rates could come down.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV