Land Parcel in Downtown Beijing Sold for CNY 1.9 Billion

Source: Securities Times, ChinaScope Financial (Data)

+       On April 16, Nanchang Municipal Public Investment Holding Group bought a land lot in Beijing’s Dongcheng District for CNY 1.92 billion, equivalent to an average price of floor area of CNY 25,700 per square meter. The land can be used for both commercial and residential purposes.

+       The lot was sold with a premium rate of 43% due to its special location. In Beijing and other cities, both land auction price and premium rate have fallen due to the real estate tightening policies.

The price of the target lot is low compared with prices of other land lots in the Dongcheng district.

Average sales prices of both commercial and residential land in Beijing have dropped this year

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Mar 22 - Agile Property Acquires Five Land Plots in Hainan

Source: Agile Property Holdings Ltd. , ChinaScope Financial (Data)

+       On March 21, Agile Property Holdings Ltd. acquired four land plots for residential buildings and one land plot for hotel operation in Wenchang city, Hainan province. The purchase was made through a tender offer and totaled CNY 270 million.

+       The area of the five land plots totaled 356,000 square meters, with gross floor area (GFA) of 298,000 square meters. The average price of GFA is CNY 898 per square meter.

+       According to Agile, in 2011, the contracted sales value of the Hainan Clearwater Bay project reached CNY 7.2 billion, leading all real estate projects in Hainan.

Hainan Agile’s (3383.HK) Hainan land reserves are second only to those in the Pearl River Delta

The average cost of the newly purchased land in Hainan (Below graph: New Hainan Land) is much higher than previous land purchases in Hainan. Sales in Hainan Clearwater Bay are increasing.

Other News Headlines:

n CIRC: The Total Value of Insurance Company Portfolio Reaches CNY 3.85 Trillion at End of Feb.

n Belle: Plans to Acquire Rival Company for CNY 880 Million

n Agile Property Acquires Five Land Plots in Hainan

n J.P. Morgan to Acquire a 19.9% Stake in Bridge Trust

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Feb 29 - Country Garden: 2011 Net Profit at CNY 5.8 Billion

Source: Country Garden, ChinaScope Financial (Data)

+       On February 28, Country Garden Holdings Co., Ltd. (HKEX: 2007) reported that in 2011, the company’s gross revenue was CNY 34.7 billion, a 34.7% year-on-year increase; its net profit was CNY 5.8 billion, a 19.6% year-on-year increase.

+       In 2011, Country Garden made about CNY 43.2 billion of contracted sales value, a 31% year-on-year increase; the gross floor area (GFA) of contracted sales was about 6.87 million square meters, a 15% year-on-year increase.

+       MO Bin, President and Executive Director of Country Garden, takes a cautious approach to the real estate market this year, and predicts a zero year-on-year sales growth.

In 2011, Country Garden (2007.HK) realized a year-on-year growth of around 30% in revenue, net income and contracted sales volume.

The gearing ratio, measured by the net debt (total debt net of unrestricted cash and cash equivalents) over the total equity, exceeded 70% in 2011.

The growth rate of Country Garden’s (2007.HK) property inventories has not increased significantly over the past two years.

Other News Headlines:

n Weibo’s Over 300 Million Users; A potential Revenue Generator

n Country Garden: 2011 Net Profit at CNY 5.8 Billion

n China’s Iron Ore Import Dependency Drops Further

n Negative Growth in Fixed Asset Investments in Cement Industry, First in Five Years

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