董事总经理报告.pdf

MANAGING DIRECTOR’S REPORT During the year, the Group strived to develop mid-to-high end projects and had taken a pragmatic approach to deliver "products with premium quality". Not only the projects were well-received and commended by the industry, the Group also achieved a record-breaking performance for the year. Wu Jiesi Chief Executive Officer Business Review Property Development Business In 2005, the overall property market was inevitably affected by the austerity measures with a lacklustre sentiment. Despite under such a difficult operating environment, the Group achieved outstanding results by taking a pragmatic approach to deliver “products with premium quality”. In Guangzhou, in consequence of the austerity measures, the approval of land supply was more stringent and the launch of a number of new developments was postponed, resulting in a smaller supply and an increase in property prices. The Group continued to market its existing projects including Huajing New City, Gallopade Park – South Court, Regal Riviera, Regal Palace, Pleasant View Garden and Huanan New City. In addition, four large new property projects, namely Yijing Huayuan in proximity of core urban centre, Yunshan Xijing in peripheral of the scenic zone of Baiyuan Mountain, Regal Riviera Villa in