We are a leading integrated real estate developer rooted in Zhejiang Province, China, focusing mainly on residential property development and the development, operation and management of commercial and mixed-use properties. With 23 years of experience, we have become a leading integrated real estate developer in Zhejiang Province, and have entered the Yangtze River Delta region and major hub cities. At the same time, we have established a clear brand image for the development property Hangpai Seiko. According to industry reports, in 2017, based on the total sales volume of residential property contracts in all 11 prefecture-level cities in Zhejiang Province, we ranked fifth, with a market share of 2.2%. From 2014 to 2018, we also received the title of China's Top 100 Real Estate Enterprises jointly awarded by the Enterprise Research Institute of the Development Research Center of the State Council, the Real Estate Research Institute of Tsinghua University, and the China Index Research Institute for five consecutive years. In 2015, 2016, 2017, and 2018, the rankings rose from 75th to 74th to 72nd and 63rd, respectively. As of November 30, 2018, in terms of equity ratio, our total land reserves were 6,933,919 square meters, of which 5,898,734 square meters were located in Zhejiang Province. As of November 30, 2018, the Group's project portfolio (which includes projects held by our joint ventures and associated companies) includes 33 completed projects, 61 projects under construction, and 13 projects for future development. As a real estate company rooted in Zhejiang Province, we recorded steady growth during our track record period. We focus on rapid and steady development and have won many awards in the industry, and our brand awareness continues to grow. We strategically focus on middle class customers as well as others. We offer four different residential property lines to meet the needs and preferences of our target customers, with a full range of products, including high-rise homes, multi-storey homes, terraced houses, and cottages. Furthermore, we are developing multi-use complex projects integrating office buildings, community centers, serviced apartments, hotels and other supporting facilities for sale and long-term investment. We develop a variety of projects in the cities where we have established our business and selectively expand into other regions where we believe there is great potential for growth. We believe that our outstanding track record is due to our outstanding execution skills and deep understanding of the real estate markets and trends in the regions where we operate. We believe that by consistently delivering quality projects to our customers over the years, we have now built a highly recognized brand and have amassed a large customer base. As of November 30, 2018, we have 74 property projects under development or for future development in 15 cities. Among these projects, the total construction area of the projects under development is about 5,591,970 square meters, and the total construction area for future development projects is about 818,142 square meters. We believe that our large reserves of well-located land will be sufficient for our foreseeable future development projects and help our business continue to grow.
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