National Business Daily 2010-8-31 Zhu Ling

Under the adjustment and control of the new policy, many developers have tightened up their strategies, and their performances have fallen, while Evergrande Real Estate (3333, HK), which has been listed for less than one year, like a calf which is not afraid of the tiger, rose against the tendency in sales performance. On August 30, Evergrande Real Estate released the first mid-year report after it was listed. Among all the real estate enterprises with the interim report announced recently, Evergrande Real Estate was the first company whose income exceeded 20 billion yuan. The overall strength of the Company threatens Vanke, the leading one in the industry.

The interim report shows that as of June 30, 2010, the income of Evergrande Real Estate had increased to 20.3 billion yuan, which is 11 times of that of the same period last year, while the net profit of the Company had reached 2.33 billion yuan, almost quadrupled of that of the same period last year.

On the spot of the interim report meeting, Hui Ka Yan, Chairman of Evergrande Real Estate, said that the turnover of more than 20 billion yuan of Evergrande Real Estate was the best among numerous developers, which reflected the powerful executive ability and the realization of the leap-forward development of Evergrande. In addition, the profit from the main business was the core profitability of the Company, which brought rich and generous investment return for shareholders.

“The profits of Evergrande mainly come from the advanced development strategy, the super-powerful cost control ability, and the interest concessions of strategic partners (suppliers and builders). Evergrande shall earn less money from common people and shall build more high-quality residences which common people can afford.” On the spot of the interim performance report meeting of Evergrande Real Estate, Hui Ka Yan, Chairman of Evergrande Real Estate, who seldom appears on public occasions, emphasized that the idea of “real estate for people's livelihood” of Evergrande was to transfer part of the profits to people.