This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

With RMB84.63 Billion Sales Revenues In The Past 11 Months, Evergrande Surpasses Its Annual Sales Target Ahead Of Time

BEIJING, Dec. 5, 2012 /PRNewswire/ -- As reported by Sina Leju, Despite the rigid control over real estate and the continuing market downturn, demand has remained strong and has become the market mainstream. Evergrande, which has consistently focused on tier-2 or tier-3 cities, has achieved over RMB10 billion of sales again in November, performing brilliantly in spite of the adverse market trend and surpassing its annual target of RMB80 billion of sales.

According to the sales bulletin released by Evergrande on December 4, the company chalked up RMB11.79 billion of contract sales in November, a 850.8 percent growth compared with the same period of last year; sold about 2 million square meters under contract, a 1100.6 percent growth compared with November 2011 and remained the national No. 1; and realized an average sale price of RMB5955 per square meters, registering a month-on-month rise of 6.5 percent.



This year, Evergrande has kept hold of the market trend accurately and started to hit out hard in Q2 to maintain the momentum of a steady growth in overall sales. By November, sales of more than RMB10 billion have occurred in three months, such as a RMB10.37 billion sale in May, a RMB14.26 billion sale in October and a RMB11.79 billion sale in November.

The bulletin shows that from January to November, Evergrande brought in a sale income of RMB84.63 billion, reaching its annual target of RMB80 billion ahead of time, surpassing the target by 5.8 percent and exceeding last year's sales by 5.3 percent. It also cumulatively sold about 14.3 million square meters, which exceeded the figure of last year by 16.9 percent and remains the national No. 1. In November, Evergrande launched 6 new projects, which increased the total of the projects on sale to 174.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs