Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of [Echo Hi] with Oppenheimer. Please proceed.
Echo Hi - Oppenheimer
Thank you for taking my question. I just wanted to -- could you explain to us that which area in your company’s operation you see more activity increase? Because last time I remember you commented on each region and how much percentage of revenue it counts -- is there any changes this time?
Xin Zhou (Translation)
Mr. Zhou just said that overall, the rebound in transaction volume was across the board in all major regions. In terms of our own business, we divide our business into five major areas and we have seen a very strong rebound in all five regions. In terms of the change in our regional mix, so far this year we have seen the strongest increase in the western region, mainly [inaudible] and other western cities.
This is also partly the result of our initiative last year to build up our project pipeline and expand our regional coverage, so that our business presence in western China and also in northeastern China has been greatly expanded.
Echo Hi - Oppenheimer
Okay, I understand -- so you mean last time you said a 6% of revenue coming from the west. This time --
Li-Lan Cheng
The first quarter is more than 10%.
Echo Hi - Oppenheimer
Okay, so there are some changes of the revenue mix? So if -- so like east, last time you were saying it’s 30% of revenue from the east and 20% to 25% from the north. Are these major regions, any changes of their revenue share?
Li-Lan Cheng
No. East China, including Shanghai and the rest of the East China, still contributes to close to 40% of the total. North China is still around 25%. Central China’s contribution for the first quarter was down a bit -- they were down to about 15%, but that was made up by the growth in Western China.
The reason Eastern and Northern China continue to contribute heavily is due to their higher average selling price. In terms of volume growth, we are seeing equally strong growth overall but since we are selling more expensive properties in Shanghai and Beijing, they will always contribute a bigger share of our revenue.
Echo Hi - Oppenheimer
Okay, I understand. Also, what’s your other income source?
Li-Lan Cheng
That’s a new segment that we talked about. The other actually includes two segments -- one is the real estate advertising consulting revenues. That’s relatively new. The other is our fund management fee. That’s $1 million a year.
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