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In addition, Country Garden has one five-star hotel, one four-star hotel and five more five-star hotels under construction.

Decent annual earning

Country Garden has experienced robust growth on low cost of land in recent years, according to its prospectus.

The company announced its prime operating income in 2004, 2005 and 2006 reached 3.24 billion yuan, 5.19 billion yuan and 7.94 billion yuan, respectively. And it saw its net profit stand at 237 million yuan, 590 million yuan and 1.67 billion yuan, respectively, in 2004-2006.

The company predicted that its profit will be no less than 4.01 billion yuan in 2007 in its prospectus based on its sufficient land reserves and developing projects at hand.

Newly minted billionaire

Zhang Yin [hurun.net]

Yang Huiyan, the 25 year-old daughter of Country Garden founder and chairman Yang Guoqiang, is likely to elbow past "Queen of wasterpaper" Zhang Yin to be the richest woman in the mainland.

Yang Huiyan will control 59.5 percent of Country Garden and see her fortune balloon to HK$51.2 billion after her company's Hong Kong listing, if the offer price is set at the top of the indicative range at HK$5.38 per share. Yang is currently personal assistant to her father. She joined Country Garden in 2003 when she graduated from the Ohio State University.

Related readings:  The 'queen of wastepaper' makes her presence felt  Richest woman becomes richer

Zhang Yin -- the 50 year-old founder and chairwoman of top Chinese paper packager Nine Dragons Paper (Holdings) Ltd -- has topped a list of China's richest peopole for the first time according to Hurun's 2006 money list.

Zhang has a fortune of HK$47.9 billion as she holds 72 percent of the paper company and its share price closed at HK$16.1 yesterday.

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