On March 7, according to the disclosure of the national property right industry information comprehensive service platform, Beijing Capital Group listed and transferred its real estate projects at the base price of 74427565 million yuan. This is not the first time that capital group has transferred assets this year.
In fact, in more than three months since the beginning of the year, China Evergrande, rongchuang China, Shimao Group, China Olympic Park, Yajule, huaxiangnian and other real estate enterprises are also packaging and selling assets. Some real estate enterprises even took the lead in putting the property management assets of listed entities with more market takers on the shelf in order to alleviate the liquidity pressure. Data show that up to now, there have been 49 mergers and acquisitions of domestic real estate listed companies.
"If real estate enterprises want to quickly return their funds, selling assets is a better choice." Xiao Yunxiang, an analyst at Tongce Research Institute, told the Securities Daily that for real estate enterprises with good fundamentals, they can obtain assets lower than the market price through acquisition and M & A, and most of the assets obtained are in the development period, which is conducive to the rapid return of the acquirer's funds.
real estate M & a wave is coming
In order to cope with the maturing debts of overseas US dollar bonds, domestic bonds, commercial bills, financial management and bank loans, real estate enterprises with debt repayment pressure have begun to consolidate their assets and open the asset "sell sell" mode since the sharp decline of the market in the second half of 2021, involving various types of assets such as residential projects under development, land, equity, property, diversified industries and private assets. For example, Zhengrong withdrew from Tianjin Xiqing "Hezhu Meijiang" project, and Midea real estate became a wholly-owned shareholder; Rongchuang will transfer 40% equity of phase II of Kunming rongchuang cultural tourism city to its partners HUAFA, etc. for 1.4 billion yuan.
With regard to the disposal of a large number of assets by real estate enterprises, Xiao Yunxiang told the Securities Daily that at the beginning of this year, with the improvement of the financing environment, some real estate enterprises with better fundamentals obtained the opportunity to issue M & A bonds, which provided funds for the occurrence of M & a events in the industry. In this regard, Guan Rongxue, an analyst at Zhuge housing search data research center, also said, "with the gradual recovery of market confidence, individual high-quality projects have gradually emerged from the false injury haze of the market downturn, attracting some real estate enterprises willing to collect mergers and acquisitions to pocket their income."
With the moderate relaxation of policy supervision and the financial institutions providing financing support for the acquisition and merger of real estate enterprises, some real estate enterprises with the intention of acquisition and merger have reduced the pressure on capital and policies, and the tide of real estate M & A is coming?
"The capital level of real estate enterprises has not fully recovered in the short term, and the market still takes a rational and cautious attitude towards insurance projects. Under this basic situation, although the phenomenon of M & A of real estate enterprises will increase, the boom of M & A is difficult to start. It is expected that with the increasing support of policies and funds for M & A of real estate enterprises, the development pace of M & a market will be more and more stable." Guan Rongxue thinks.
important targets of property assets acquisition
It is noteworthy that according to the observation of the reporter of Securities Daily, property assets in the market are very popular in M & A. According to the data of Kerui property management and China Property Research Association, as of December 31, 2021, a total of 29 listed property enterprises had initiated 53 mergers and acquisitions, with a total amount of M & A transactions of 35.588 billion yuan.
After entering 2022, M & A in the property management industry is still accelerating. For example, Country Garden Service said that due to the high degree of overlap between its project and Zhongliang Baiyue Zhijia in the business area, it is conducive to integrate the advantages of both sides in the business overlap area in the future, reduce operating costs and improve profitability. It will acquire about 93.76% equity of Zhongliang Baiyue Zhijia Service Co., Ltd., the property company controlled by Zhongliang.
It is understood that country garden service has invested 240 million yuan to acquire 6.24% equity of Zhongliang Baiyue Zhijia. After the completion of this acquisition, Zhongliang Baiyue Zhijia will become a wholly-owned subsidiary of country garden services, and its performance, assets and liabilities will be consolidated into the financial statements of country garden services.
Following closely, Yuzhou group sold 85.64% of the total issued share capital of Jiancai Co., Ltd., a wholly-owned subsidiary, and the buyer was Taijie Co., Ltd. Until March 3, there was a RMB 1 M & A case in the property management market. The impromptu Yeyuan property announced that it planned to acquire 100% equity of Luoyang xianglongwan Property Management Co., Ltd. (hereinafter referred to as "xianglongwan property") through the holding subsidiary Luoyang xingyeyuan. According to the announcement, the price negotiated by both parties was only RMB 1.
\u3000\u3000 "The development of the property industry is relatively stable, its potential risks are relatively small, and its financial stability and liquidity are strong, so it can be used as a good asset reserve. From the current valuation of the property management industry and the future growth space, it has great imagination. With the improvement of people's living standards, the demand for supporting living facilities such as property is also increasing. Therefore, the development of the subject matter of property in the future The scenery is still considerable. " Guan Rongxue thinks.
