On August 30, Evergrande Group released the 2011 Semi-annual Report in Hong Kong, with the net profit, main business income, core business profit, sales area and sales growth rate ranking in the first place in China. Professor Hui Ka Yan, Chairman of the Board of Directors, Dr. Xia Haijun, Vice-chairman and President, Mr. Xie Huihua, Chief Financial Officer and Executive Director, and Mr. Lai Lixin, Vice-president and Executive Director, attended the news conference and interacted and exchanged with the journalists.

According to the Semi-annual Report, in the first half year of 2011, the Group achieved the main business income of 32.06 billion yuan, with an increase of 57.4% on a year-on-year basis; the net profit of 5.82 billion yuan, with an increase of 132.8% on a year-on-year basis; the core business profit of 4.81 billion yuan, with an increase of 147.9% on a year-on-year basis; the sales area of 6.117 million square meters, with an increase of 83.2% on a year-on-year basis; the sales volume of 42.32 billion yuan, with an increase of 101.7% on a year-on-year basis; the area under construction of 31.63 million square meters, with an increase of 37% on a year-on-year basis; and the total assets of 148.07 billion yuan, with an increase of 86.4% on a year-on-year basis.

Based on the profitable achievements, Evergrande's stock price boosted to 4.82 yuan by 4.32% on the next day of the news conference, with the amount of increase leading the Chinese mainland real estate stocks. With respect to the market, many international investment banks including Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citibank have released reports successively to increase the target price of Evergrande's stock. The target price offered by Goldman Sachs is HKD 8.5, the target price offered by Deutsche Bank is HKD 8.3, and the target price offered by Bank of America Merrill Lynch and Citibank respectively is HKD 7.5.

According to Goldman Sachs, Evergrande's core profit of the first half year increased by 148% on an annual basis, 27% higher than that predicted by such bank. Thus, Goldman Sachs has increased the predicted basic earning per share of 2011~2013, affirming Evergrande's stability in sales execution and project delivery, and pointing out that current price of Evergrande represents a discount of 62% compared to the net asset value, with an average discount of 60% relative to that of other H-share
enterprises.