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Glorious Property
Annual Report 2011
Chairman’s Statement
(Continued)
PROFESSIONAL DEVELOPMENT
2011 is an important year for the Group to standardise its products. The Group enhanced its
product standardisation system in compliance with the principle of creating products satisfying
with the market needs and consumer demands, gradually formed standardised products like
the Villa Glorious series, European Township series, Landscape Villa and Lakeside series as
well as the City Complex series. The standardisation of products further improves the Group’s
professional development capabilities and thus the product quality and the brand name.
EXQUISITE MANAGEMENT
The Group continued to optimise and upgrade its mode of management and functional
structure, so as to further improve its operational efficiency and management capability.
During the year, the newly established economic operating centre and the project management
centre further improved the Group’s planning management, construction management,
cash flow management and capital management so as to accommodate the exquisite and
professional management requirements of the Group. The Group’s information management
achieved significant progress to enhance its efficiency and improve its information
technological platform. Advanced information technologies such as collaborative office
system, remote video conferencing and real-time remote project monitoring were implemented
to a practical stage. All of these helped save not only considerable management cost, but also
further enhanced the efficiency of management and project management capability.
CORPORATE FINANCE
During the year, the Group targeted at improving its capital structure by increasing its funding
capability and flexibility through the use of offshore and onshore financing and multi-
channel financing. Diversifying its funding channels also enabled the Group to expand its
scale of financing. In 2011, approximately RMB9.5 billion was raised from both domestic and
international markets and approximately RMB8.5 billion of loans was repaid, therefore, the
Group’s funding demand was met. In addition, the Group consistently adhered to its prudent
financial policy and intended to further trim down the level of borrowings. This allows the
Group to maintain the gearing ratio at a more reasonable level while sustaining rapid business
development.