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Management Discussion and Analysis -
Business Review
Glorious Property
Annual Report 2011
16
Business Review
I.
REVENUE
For the year ended 31 December 2011, the Group recorded a consolidated revenue of RMB9,585.4 million,
up 34.7% from RMB7,114.0 million of 2010. The sold and delivered GFA for the year was 1,012,818 sq.m.,
representing an increase of 100.4% over 505,295 sq.m. for 2010. Meanwhile, the average selling price recognised
declined by 32.8% to RMB9,460 per sq.m. from RMB14,071 per sq.m. for last year.
PERCENTAGE OF REVENUE BY
REGION IN 2011
PERCENTAGE OF GFA SOLD AND
DELIVERED BY REGION IN 2011
In 2011, the Group recognised revenue for 13 projects, up from 11 projects for 2010. Among which, revenue
from properties of 7 projects in first-tier cities, including Shanghai and Beijing and revenue from sales of 6 projects
in second- and third-tier cities, including Tianjin, Wuxi, Hefei, Shenyang, Harbin and Nantong, accounted for
57.3% and 42.7% of the Group’s consolidated revenue respectively. Of the total GFA sold and delivered in
2011, approximately 28.5% was from projects in Shanghai Region, 29.4% from Yangtze River Delta (excluding
Shanghai), 7.3% from Pan Bohai Rim and 34.8% from Northeast China.
Northeast
China
26.8%
Northeast
China
34.8%
Pan Bohai
Rim
6.9%
Pan Bohai
Rim
7.3%
Yangtze
River Delta
15.6%
Yangtze
River Delta
29.4%
Shanghai
Region
50.7%
Shanghai
Region
28.5%