SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

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Evergrande Ranks Top 2 for Four Consecutive Years Among the Released Top 500 Chinese Real Estate Enterprises in 2014

BEIJING, March 19, 2014 /PRNewswire/ -- On March 19, 2014, the assessment result of top 500 Chinese real estate development enterprises was released, and it was revealed that Vanke and Evergrande ranked No.1 and No.2 again respectively by virtue of the preeminent comprehensive strength upon integrated survey of enterprise scale, risk management, profitability, growth potential, operation performance, innovation capacity, social responsibility and other indexes. The appraisal of top 500 real estate enterprises was co-sponsored by China Real Estate Institute, China Real Estate Association and China Real Estate Assessment Center.

An original report by Sina Leju follows:

Notably, on various rankings, Evergrande ranked No.1 in terms of five indexes, including top 10 in comprehensive development, top 10 in city coverage, top 10 in innovation capacity, top 10 in tourism real estate, and top 10 in responsible real estate, creating the most records of No.1 in single index ranking. It was reported that in 2013, Evergrande achieved the sales volume of RMB 100.397 billion and the full-year sales area of 14.894 million square meters, with more than 290 large-scale projects covering over 140 cities throughout the country.

It was reported that Evergrande had implemented the "112 Plan" in 2013 -- "one optimization, one decrease and two increases". Evergrande not only developed in the first-tier cities to acquire land reserves for new project optimization, but also issued the senior notes of USD 1.5 billion twice, so that the Company's annual interest rate of five-year dollar bonds decreased to 8.75%, with significant reduction in the overall financing cost, unanimous recognized by the international investment banks. According to the insiders, this would significantly increase Evergrande's cash flow, promoting Evergrande to further become bigger and stronger, and consolidating its scale advantage and its leading position in the industry.

It was reported that, from the point of view of scale, in 2013, the total sales volume of top 10 real estate development enterprises was up to RMB 1078.98 billion, accounting for 33% of that of top 500 real estate development enterprises, with an increase of 1% compared to that in 2012. From the point of view of real estate enterprise sales concentration ratio, the market share of top 10 real estate enterprises increased from 12.37% in 2012 to 13.25% in 2013, another record high. From the point of view of enterprise ranking threshold, in 2013, the number of enterprises of RMB 100 billion increased from 3 to 7, and the number of enterprises of more than RMB 50 billion increased to 11, indicating that the competitive situation of the entire industry was increasingly fierce. Notably, Vanke and Evergrande had ranked top 2 among the real estate enterprises for four consecutive years.

According to the experts, "the future real estate will still play an important role in the national economic strategy of 'steady development and structural adjustment'." With the increase in the industry concentration ratio, the leading enterprises with high regional diversification degree, clear growth strategy and steady financial management will have a better development. The development status of Vanke and Evergrande will significantly influence the overall competitive situation of the industry.

SOURCE Sina Leju

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