Based on the unaudited consolidated management accounts, Aoyuan is expected to record a substantial growth in net profit for the six months ended 30 June 2011 as compared with that of the same period in 2010. The significant profit growth is attributable to the increase in the average selling price and gross profit margin in the properties delivered. The Group"s results announcement will be published in mid of August 2011.

Aoyuan continued its impressive selling trend and achieved outstanding sales performance in the first half of this year. For 1H2011, Aoyuan recorded an accumulated contracted sales amount of RMB2.3 billion, representing a significantly increase of 96% compared to that of 1H2010. The Group"s total contracted gross floor area significantly increased by 141% to approximately 254,000 sq.m.

The Group currently has ample cash reserves due to its outstanding sales performance, as well as the healthy and stable financial strategy. As of 31 December 2010, its cash and cash equivalents (The cash and cash equivalents include restricted bank deposits) amounted to more than RMB 3.8 billion. This strong financial position enables the rapid development of the Group"s quality projects and manages the effects of the economic cycle. It also allows the Aoyuan to grasp opportunities as they arise in the market and paves the way for its future expansion.