The company generated 646.32 Mln RMB of Revenue resulting in an Operating Profit of 121.49 Mln RMB and Net Profits of 64.94Mln RMB in the first half year inline with the returns for last year.

According to the company's report, there is 5,618 Mln RMB worth of stock, including 5, 123.28 Mln RMB development cost and 494.72 Mln RMB development production. If the project develops and sells as planned, it is expected to obtain 18 Bln RMB in sales revenue, over six years of normal operation with 3B ln RMB annual sales revenue.

The company completed the implementation of its 2006 non-public Debenture offering program in February 2007. This raised net funds of 1.169 Bln RMB. During the reporting period, the company had approval to issue 500 Mln RMB in debenture stock.

Assuming that the proposed projects can be successfully developed and sold, it is predicted that the earning per share of the company is most likely to be 0.305 RMB in 2007, 0.77 RMB in 2008, and 1.1 RMB in 2009.

Beijing Urban Construction Investment & Development Co.,Ltd

22 Aug 2007