Annual Report 2009 - Greentown China Holdings Limited

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Chairman’s Statement Quality and cooperation have always been the intrinsic values of Greentown. We believe that Greentown’s superior quality has given us the autonomy to define our own pricing strategy, while our sincere approach in absorbing external resources has attracted beneficial partnerships. These competitive advantages have helped the Group stay proactive in ever-changing market conditions. In response to cyclical market fluctuations in the future, Greentown will also shorten its product development cycle and adopt a fast-selling approach. 40 Greentown China Holdings Limited Annual Report 2009
Dear Shareholders, In early 2009, the level of property transactions in China was low, which had affected Greentown briefly. Taking a proactive stance to meet the challenge, Greentown management carried out continuous discussions and assessments of the situation, which brought two fundamental conclusions that we firmly believe in. The first is that, despite temporary twists and turns, the improvement in living standards and progress in urbanisation shall prevail in the long term, propelled by the continuous economic development in the PRC. At the same time, the real estate industry will be a fundamental driving force for the nation’s economic growth and expansion of domestic demand. The second is that, due to the shortage of high-quality products and services in the market, the public’s strong demand for sophisticated products and outstanding services will provide an inexhaustible momentum for the development of the real estate industry. Based on these two conclusions, Greentown reinforced its strategic focus on sophisticated products and launched them on schedule defying all other market concerns. As a result, by the end of the second quarter of 2009, Greentown completely overcome the short-term setbacks caused by the market’s earlier downturn, and thus its sales jumped rapidly. Looking forward to 2010, despite numerous uncertainties that hover over the economic fundamentals and industry trends, Greentown management has every confidence in China’s advancement towards sustained prosperity. The country’s rapid urbanisation will remain a strong impetus to the growth of the real estate industry. Management believes that the Chinese people’s urgent demand for better standards of housing and living is an irreversible trend that shapes the Group’s long-term growth. While remaining true to our inherent principles, Greentown is committed to the execution of its on-going development strategies. Quality and cooperation have always been the intrinsic values of Greentown. We believe that Greentown’s superior quality has given us the autonomy to define our own pricing strategy, while our sincere approach in absorbing external resources has attracted beneficial partnerships. These competitive advantages have helped the Group stay proactively in the ever-changing market conditions. In response to cyclical market fluctuations in the future, Greentown will also shorten its product development cycle and adopt a fast-selling approach. In 2010, four guiding principles will shape Greentown’s development. Firstly, we will make this “The Year of Investment in Human Resources” to accelerate the growth and development of our people. Secondly, we will strenuously implement the strategy of product sophistication at every level in the company to achieve optimal effectiveness in our operation. Thirdly, we will proactively explore more flexible ways to cooperate with landowners and establish a standard business model for undertaking construction projects, thereby increasing the scale of such projects. Fourthly, we will emphasize the importance of cash flow in our operation. While maintaining its quality standards, Greentown will strengthen its budget management and cost control, and speed up its product development process, thereby achieving earlier, faster and greater sales. Management believes that changes in the external environment are always secondary influences on a company’s development. Greentown’s ultimate success always lies in its internal vision for growth and its ability to implement the right strategies in response to market changes. In 2010, Greentown will enter a new stage in its development with vigour, perseverance and a spirit of self-examination. Finally, I would like to take this opportunity to express my sincere thanks to all of our customers and shareholders, and to our staff for their continuous dedication and hard work. Song Weiping Chairman 19 April 2010 Greentown China Holdings Limited Annual Report 2009 41
Page 1 and 2: eauties in life Start with a dream
Page 3 and 4: Contents Corporate Information 2 Co
Page 5 and 6: Corporate Information Registered Of
Page 7: Corporate Profile Greentown China H
Page 10: Villa Changsha Bamboo Garden Shangh
Page 13 and 14: Mansion Beijing Majestic Mansion Th
Page 15 and 16: Urban Complex
Page 17 and 18: Jinan National Games Project
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Page 21 and 22: Xinjiang 1.9% Proportion to total l
Page 23 and 24: Portfolio Property projects Type In
Page 25 and 26: Portfolio Completion schedule of pr
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Annual Report 2009 - Greentown China Holdings Limited

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