Comprehensive Overview

As a property developer focusing on the Yangtze River Delta Economic Zone, the Group developed its first property project in Shanghai in 2010. As of the end of July this year, the Group's residential properties were distributed in eight provinces and 14 cities under direct control. The Group's land reserves were concentrated in the Yangtze River Delta, Pearl River Delta and the central core economic zones, with a total construction area of about 4.1 million square meters, sufficient for the Group's development for the next two to three years.

Risk Factors

The Group is highly dependent on the real estate market in the Yangtze River Delta Economic Zone, particularly Shanghai. As of the end of July this year, nearly 70% of the group's total construction area was in the Yangtze River Delta Economic Zone, and more than one-third of the property projects and the group's total construction area should account for more than 14% of the total construction area. If there is a negative development in the Chinese property market, or changes in local property market policies, it may have an impact on business.