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Evergrande reached the annual target ahead of schedule with sales of 154.5 billion in ten months

 Date:2015.11.03   Publisher:Evergrande Group

On November 2, the latest results of Evergrande Real Estate (HK.3333) showed that its total sales reached 154.53 billion yuan, with 17.5% more than last year and target completion rate of 103%, becoming the first housing company to complete the annual target ahead of schedule this year; The sales of 25.8 billion in October created the highest record of monthly sales in its history.

In the case of economic downturn and continuing depression in the property market, Evergrande had dramatic growth in sales this year, continuing the momentum since it was listed. Data show that, in the first half of this year, its turnover, sales, net profit and core business profit reached 77.74 billion, 87.11 billion, 13.29 billion and 10.16 billion respectively, with year on year increase of 22.7%, 25.7%, 40% and 56.5%; in 2014 the annual turnover, sales, net profit and core business profit increased 18.9%, 31%,  31.4% and 16.5% year on year, respectively.

From 2009 to 2014, the core index of Eevergrande have maintained an average increase of 30%, with turnover from 5.7 billion to 111.4 billion, sales from 30.3 billion to 131.5 billion, net profit from 1.12 billion to 18.02 billion, and core business profit from 290 million to 12.04 billion.

It is also expected in the industry that Evergrande reaches its target ahead of schedule, including Singapore's largest securities firm UOB Kay Hian and several other investment banks, which stated in the research report released this year "with strong sales momentum, it will significantly exceed the annual target."

According to statistics, the average target completion rate is still less than 70% in the industry. "In the industry differentiation and  increasing market competition, Evergrande has maintained business growth in recent years, which is inseparable from its competitive advantages formed for many years." Real estate observers have pointed out, "As the only housing company with full-hardcover handover, Evergrande is strong in cost control, with exact product positioning and cost-effectiveness, and these core competencies are throughout the development chain of real estate, it is expected to continue the high growth."

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