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Evergrande: Strong Sales Performance And High Growth

BEIJING, May 8, 2013 /PRNewswire/ -- On May 8, Evergrande stock had a high opening price, and the price rose by 5.3% to HKD 3.38 at one time. By closing that afternoon, Evergrande's stock price rose by HKD 0.16,and the closing price was HKD 3.37 per share, with an increase of 4.98%; the turnover was 158 million shares, and the volume of trading was up to HKD 524 million, ranking No. 1 among the real estate enterprises of Hong Kong stocks. An original report from Sina Leju follows.

According to the April sales performance report released by Evergrande, Evergrande achieved a month-on-month increase in both the sales volume and the sales price in the adverse market. In April, Evergrande achieved sales of 7.26 billion RMB, with a month-on-month increase of 15.8%, and the sales area of 1.097 million square meters, with a month-on-month increase of 10.9%. From January through April, Evergrande had 188 projects on sale in total, and in addition, it achieved sales of 24.98 billion RMB cumulatively, with a year-on-year increase of 51.9%, and the sales area of 3.936 million square meters, with a year-on-year increase of 46.9%. The average selling price in April was 6,620 RMB per square meter, with an increase of 4.4% monthly.

According to the latest investigation report from China Merchants Securities, in the first quarter, the increase in the sales amount of real estate enterprises was due to the early released demand. Along with the introduction of the detailed "new rules" in various regions, it will be inevitable for the real estate market to lower the pace of sales.

Data showed that in April, HOPSON DEV HOLD achieved the sales amount of 860 million RMB, with a month-on-month decrease of more than 20%, and BJ CAPITAL LAND achieved the sales amount of 910 million RMB, with a month-on-month decrease of nearly 20%. It is worth noting that in April, the leading real estate enterprise Vanke achieved the sales area of 1.107 million square meters and the sales amount of 12.38 billion RMB, with a month-on-month decrease of 12.97% and 18.55% respectively.

In the short term, the turnover of the real estate market is faced with the month-on-month decrease, but this is only the indication that the market is returning to the normal status. Evergrande have been adhering to the concept of properties for the people's livelihood, and will continue developing in the second- and third-tier cities with rigid demand, with high cost-effective products to conform to the market and the policy, small profits and quick returns, meeting the rigid demand, further consolidating the market share.

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