Repeated and referred customers
Leverage on brand equity
Foster strategic partnership: ─ Local government ─ Land owners ─ Financial investors
Brand premium, high sales growth and low cost land bank contribute to continuous high profit margin
Pricing premium
Pricing premium over other properties in the same location
Higher margin
Strong sales & customer loyalty
High pre-sale rate before project completion
Increase stake
Bishui Qingfeng
Strategic cooperation or acquisition
Hangzhou Jiubao Project Rose Creek Valley Tulip Bank
2005
1H2006
8
Improved capital structure
Total debt/total capitalisation
100.00% 90.00%
91.64%
84.28%
84.97%
87.45%
80.00%
70.00% 60.00%
57.07%
50.00%
40.00%
30.00%