China's overseas development Falls 1% sales Full-year Target has achieved 70%

Earlier, China's overseas development, which achieved a year-on-year increase in real estate sales of nearly 70% to 14.6 billion Hong Kong dollars in the previous four months, was a sharp reversal of the market earlier this morning, but the share price fell slightly by 0.87% to HK $15.96, but still won a big market and sold 2.33 million shares. The company announced that real estate sales rose by 113.9% to HK $5.65 billion in May over a year earlier, only slightly below 115% in April; 1-May sales amounted to HK $20.3 billion, up 80.1% from a year earlier, up from less than 4 in the previous 70% months Sales have accounted for 72.5% of the annual sales target (HK $28 billion). This shows that the company's housing sales since the beginning of the continuing hot situation has been continued.　　At the same time, the company has abundant land reserves, which means a total of 24.8 million square meters of reserves to meet its 4-5-year development needs. Citi also issued a report saying that the purchase rating of the unit was maintained at a target price of HK $16.28, at a premium of 2% per cent. The strong financial strength and liquidity management will spur China's overseas development to acquire new quality plots at a reasonable price for the remainder of 2009, which will support a further increase in net assets per share. Brand and product quality are also expected to support the company's more profitable pricing and profitability.