In recent years, Aoyuan further delineated its strategic direction and operation model to enhance organic strength. This resulted in various areas of achievements as the Group implemented a "rapid and balanced development" operation strategy and pursued "dual development of commercial and residential projects" in its product strategy, while it also effectively implemented the "fast development and fast sales" development strategy.

In terms of sales, Aoyuan"s products and brand name received broad recognition in the markets which Aoyuan has presence: Zhongshan Aoyuan has been a market leader since its launch in 2010 and ranked top 10 in Zhongshan city sales chart for three consecutive years; Shenyang Aoyuan (The Metropolis and Convention Plaza) was number one in saleable area and number of units sold in 1H2012 and number two for the full year. For Chongqing·Jinyu, it commenced construction in March after the land was won through tender in January 2012, after the launch of its first phase in August it was ranked top 10 in Chongqing residential sales chart for two consecutive months with aggregate contracted sales of RMB560 million in four months. It successfully concluded land purchase, development and near sell-out all in the same year, and served as a strong proof on the practicality of our "fast development and fast sales" development strategy, while also exhibited the exceptional real estate project development and operation management capabilities of Aoyuan Group.

For commercial products, not only our commercial projects were highly sought after, in 2012 Aoyuan invested in the construction of the first large-scale integrated commercial project - Aoyuan Plaza, which officially opened amid great anticipations. This was the first national-class large-scale trendy shopping center developed in the history of commercial development in the southern district of Guangzhou. The superior quality of the project received support and recognition from various merchants and attracted nearly 200 first-tier international and domestic brand names to set up stores. As an important vehicle for realizing the strategy of "dual development in commercial and residential areas" pursued by Aoyuan Group, the opening of this project meant that Aoyuan had achieved one great leap forward in entering the commercial real property market.

With the support of abundant cash flow and solid financial positions, the Group had made notable achievements in investments and acquisitions, purchasing 8 pieces of quality commercial and residential lands in Chongqing, Hunan Zhuzhou, Guangdong Foshan and Guangzhou Panyu, etc. The organizers of the research stated that Aoyuan Group could leverage on its remarkable development and operation capabilities to achieve a period of rapid growth in the next three years.

The "Top 100 Enterprises of China Real Estate Industry" award entered its tenth year since its inception in 2004. The research team responsible for top 10 selections was officially established in January 2003 by the Corporate Research Institute of the Development and Research Center of the State Council, Real Estate Research Institute of Tsinghua University and China Index Research Institute. The research aimed at studying real estate enterprises in China with large scale, high efficiency and quality brand name, and it has now become an important benchmark for assessing the operation strength and industry position of real estate enterprises. The fact that Aoyuan was included in the top 10o company list and ranked top 10 in operation efficiency further demonstrated the development strength of our company.