On April 15th, Evergrande held No-reason House Return Press Conference at its headquarters in Guangzhou, and announced to carry out “no-reason house return” for all Evergrande houses all over the country from 08:00 on April 16th.

Deputy Chairman and President Xia Haijun, and Executive Director and Vice President He Miaoling disclosed the activity theme in the conference, and Vice President He Peng presided over the conference. This conference attracted attention of nationwide media. Nearly 600 reporters from CCTV and Xinhua News Agency participated in the conference and various medias live broadcasted the unprecedented conference

Evergrande no-reason house return press conference 

Vice President He Miaoling read file and letter of commitment for no-reason house return at the conference. All Evergrande house buyers who had already implemented obligations of Subscription Document of Residential Building and Commodity House Sales Contract without breach of contract, may return the house without any reason at any time from signing Subscription Document of Residential Building and Commodity House Sales Contract and before conducting occupancy procedures.

Vice President He Miaoling read file and letter of commitment for no-reason house return

When communicating with media at the conference, Xia Haijun said: “No-reason house return is Evergrade’s promise to every house buyer and the society for implementing the operation philosophy of improving people’s livehood, presenting honesty and house quality and making people buy houses trustingly and happily.”

On the conference spot, reporters asked that why Evergrande dared to return house without reason for all houses all over the country. President axis Haijun answered: “Evergrande has strong ability to make good quality, and sell all the houses with fine decoration. Ordinary houses for rigid demand  match with luxury houses in environment and facilities; Evergrande also has good ability in cost control. Standardized operation and unified material distribution cut down the cost. Our profits come from benefits surrendered by suppliers and contractors. We sell house at low price and with high cost performance.”

President Xia Haijun communicating with media

Owned 305 projects in 147 cities in China, Evergrande’s no-reason house return caused huge influence. CCTV reporters said at the conference that Evergrande’s no-reason house return was a historical event and overturning revolution.

 “The bigger the company is, the more liability is. When a company is developed to a certain phase, it shall bear more social liabilities. As a leading company, Evergrande has responsibilities to maintain customers’ rights and benefits and for benign development of market.” President Xia Haijun thought that house is commodity, which shall have “return” commitment like other commodities. He appealed other real estate companies to join “no-reason house return”, and make “return” to be normal in the market.

Journalists taking photos of Evergrande’s no-reason house return file

Regarding reporters’ question on whether the risk of no-reason house return would be transferred to Evergrande, President Xia Haijun said, Evergrande was full of confidence in its own products and healthy development of real estate market in the future. In particularly, he indicated that Evergrande paid taxes of 17 billion Yuan and solved employment problem for 1,300,000 people in last year. It was Evergrande’s obligation to bear these social liabilities.

Insiders indicated that no-reason house return all over the country was unprecedented, and its influence was even larger than pre-sale system in previous years. This activity gave house buyers a guarantee to buy houses without any risks and worries, which would certainly lead an industry revolution.

Evergrande no-reason house return presee conference site

Appendix:Meida communication transcript

1. Today’s theme was kept confidential. We just saw it, and it was really a big news,  a historical event and overturning revolution. Why did you do this?

Xia Haijun: The bigger the company is, the more liability is. When a company is developed to a certain phase, it shall bear more social liabilities. As a leading company, Evergrande has responsibilities to maintain customers’ rights and benefits and for benign development of market.

2. As a leading real estate company, Evergrande has been always calling for improving people’s livehood and positioning on rigid demand. What advantages will no-reason house return for all Evergrande houses give to common people?

Xia Haijun: No-reason house return is Evergrade’s promise to every house buyer and the society for implementing the operation philosophy of improving people’s livehood, presenting honesty and house quality and making people buy houses trustingly and happily.

3. Evergrande carries out no-reason house return all over China. Why you dare to do this?

Xia Haijun: Evergrande has strong ability to make good quality, and sell all the houses with fine decoration. Ordinary houses for rigid demand match with luxury houses in environment and facilities; Evergrande also has good ability in cost control. Standardized operation and unified material distribution cut down the cost. Our profits come from benefits surrendered by suppliers and contractors. We sell house at low price and with high cost performance.

4. According to annual report published by Evergrande that its gross assets amounted to 474.5billion Yuan, owned 305 projects in 147 cities, sales amounts up to 131.5 billion Yuan last year, ten core indexes ranked the first in China. In Jan., Evergrande declared that the sales target this year was 150 billion Yuan. Is Evergrande very optimistic to Chinese real estate market in the future?

Xia Haijun: You are right. We are full of confidence in stable and healthy development of Chinese real estate development. In the past, Evergrande always overfulfilled annual sales target, and we are certain that we will overfulfil sales target of 150 billion Yuan in advance.

5. Is Evergrande’s no-reason house return leading markets or challenging other real estate companies?

Xia Haijun: We think housese are commodities, which shall have “return” commitment like other commodities. We hope that other real estate companies to join “no-reason house return”, and make “return” to be normal in the market.

6. As a leading real estate company, Evergrande’s no-reason house return may speed survival of the fittest. What do you think?

Xia Haijun: There were 50,000 to 60,000 real estate companies in Chinese market at peak, and now there are still 20,000 to 30,000. Market competition and industry reshuffle will weed out more than 20,000 companies, and finally hundreds or thousands of companies left. At that time, the overall quality of this industry will be much better, and the companies will provide better products and services for common people.

7. No-reason house return is a great beginning and big progress, but whether the risk will be transferred to Evergrande from house buyers?

Xia Haijun: Like I just said, we are full of confidence in Evergrande’s products and healthy development of real estate market, so we are not worried about this. In particularly, Evergrande paid taxes of 17, billion Yuan and solved employment problem for 1,300,000 people. It was Evergrande’s obligation to bear these social liabilities.