1. Contracted Sales in February 2013

In February 2013, the Group recorded contracted sales of RMB 293.9 million, representing a year-on-year decrease of 52.8%. The total contracted sold area was 22.8 thousand sq.m., representing a year-on-year decrease of 72.7%. The average contracted selling price was RMB 12,880.7 per sq.m. The year-on-year decrease of the contracted sales in February was largely due to the traditional low season in Chinese New Year and no new projects were launched by the Group.

From January to February, the total contracted sales and contracted sold area amounted to RMB 1.8 billion and 115.6 thousand sq.m., representing an increase of 72.7% and a decrease of 29.4% respectively as compared to the same period of last year. The average contracted selling price for the first two months was RMB 15,546.7 per sq.m.

In the first two months, Shanghai Region recorded the highest contracted sales amount of RMB 1.4 billion, increased by 106.2% year-on-year.

2. New Land Acquisition in February

The Group did not acquire any new land in February 2013. At present, the Group has a total land bank of approximately 16.2 million sq.m., which is sufficient to meet its development needs for over the next five years.

Table I: Contracted Sales for February 2013