On 27 April 2009, Shimao Property Holdings Limited announces 2008 annual results. Till 31 December 2008, its revenue amounted to RMB7.2 billion, representing a decrease of the last year.

Mr. Hui Wing Mau, Chaiman of Shimao Property, said, “In 2008, the China’s real estate market faced many strenuous tests and impacts in various areas that resulted in significant market adjustments. Shimao Property continued to strategically expand its geographic coverage in a prudent manner. During the year, it maintained a stable development of the core business and sound financial position despite the mild slowdown in overall property sales. In the first quarter of 2009, the unaudited contracted sales reached RMB4.55 billion, soaring for over 300% as compared to the same period last year.