In 2021, when the whole real estate industry goes down, what is the performance of local real estate enterprises in Sichuan and Chongqing?
Under the background of tightening the financing environment of real estate enterprises and increasing the regulation of local real estate markets in 2021, the sales performance and land acquisition investment of real estate enterprises will be greatly affected. Specifically, in Sichuan and Chongqing, according to Kerui's statistics, the number of 100 billion real estate enterprises in Sichuan and Chongqing increased to three (Jinke group, Sichuan Languang Development Co.Ltd(600466) , New Hope Liuhe Co.Ltd(000876) real estate) in 2020, but Sichuan Languang Development Co.Ltd(600466) failed to be listed due to debt problems in 2021, and the number of 100 billion real estate enterprises in Sichuan and Chongqing decreased to two.
In addition, Sichuan local small and medium-sized real estate enterprises have risen rapidly in recent years. In the performance list of Sichuan real estate enterprises in 2021, four of the top 10 are Sichuan local real estate enterprises; In addition to New Hope Liuhe Co.Ltd(000876) real estate, sunshine land, territory group and Bangtai group are among the top 100 real estate enterprises in China. Among the local real estate enterprises in Chongqing, except Jinke group, Huayu Real Estate and Dongyuan real estate have entered the list of the top 100 real estate enterprises in China. However, in terms of ranking, the top 100 list of Chongqing real estate enterprises is higher and stronger.
"The capital situation of some real estate enterprises in Sichuan market is greatly affected, so the fluctuation of enterprise ranking is relatively large. For Chongqing market, some core real estate enterprises are relatively stable, so the pressure should be less."
Yan Yuejin, research director of the think tank center of E-House Research Institute, analyzed and pointed out to the reporter of daily economic news that for Sichuan and Chongqing real estate enterprises in 2022, the key is to study the concept of Chengdu and Chongqing, and actively form more business investment around such concepts, which can be actively tried. At the same time, we should pay due attention to the cultural and tourism consumption market. If the follow-up epidemic situation is properly controlled, the cultural and tourism resources of Chengdu and Chongqing can be better developed, and real estate enterprises can actively innovate around this point.
Sichuan Chongqing 100 billion real estate enterprises reduced to two
2021 seems to be a turning point for real estate enterprises, especially in Sichuan and Chongqing.
Kerui data show that in 2021, the full caliber sales amount of 43 real estate enterprises exceeded 100 billion yuan. Among them, the top Sichuan and Chongqing real estate enterprises are still Jinke group from Chongqing, ranking 18th in China with sales of 187.26 billion yuan; Sichuan style real estate enterprise New Hope Liuhe Co.Ltd(000876) ranked 39th with 105.91 billion yuan.
It is worth noting that in 2020, the number of 100 billion real estate enterprises in Sichuan and Chongqing increased to three (Jinke group, Sichuan Languang Development Co.Ltd(600466) , New Hope Liuhe Co.Ltd(000876) real estate), but in 2021 Sichuan Languang Development Co.Ltd(600466) failed to be listed due to debt problems, and the number of 100 billion real estate enterprises in Sichuan and Chongqing decreased to two.
So, what is the performance of the two 100 billion real estate enterprises in their respective bases?
According to the data of Yihan think tank, the local sales of New Hope Liuhe Co.Ltd(000876) real estate in Sichuan in 2021 was 13.539 billion yuan, falling out of the top 10 and ranking 14th. In the first place, the business development is mainly concentrated in sunshine earth in prefecture level cities such as Meishan and Zigong, Sichuan, with sales of 30.15 billion yuan. Followed by Vanke Chengdu, with 29.476 billion yuan, and Bangtai group ranked third with 24.959 billion yuan.
Sales performance of typical real estate enterprises in Sichuan Province in 2021 (full caliber)
data source: Yihan think tank
It should be noted that local small and medium-sized real estate enterprises in Sichuan have risen rapidly in the past two years, and their seats on the local top 30 list are increasing year by year. Among the top 10 real estate enterprises in Sichuan in 2021, the number of local real estate enterprises increased to 4, including sunshine earth, Bangtai group, zhenghuang group and territory group, which ranked No. 1, 3, 5 and 10 respectively. For example, zhenghuang group, which has not yet entered the top 30 in the list in 2020 and started in Suining, Sichuan, jumped to the top 5 with 20.097 billion yuan.
According to Kerui's statistics, among Sichuan style real estate enterprises, in addition to New Hope Liuhe Co.Ltd(000876) real estate being a 100 billion real estate enterprise, sunshine earth, territory group and Bangtai group are also among the top 100 real estate enterprises in China, ranking 73rd, 95th and 98th respectively.
"According to the annual data of 2021, the top 5 and top 10 thresholds of sales performance of Sichuan real estate enterprises decreased year-on-year." According to the southwest regional analysis of Yihan think tank, with the continuous deepening of regulation, the rapid growth mode of real estate enterprises will come to an end, the deceleration trend of threshold value will continue, and new changes will occur in the industry pattern. Central enterprises and state-owned enterprises with inherent financing and capital advantages will occupy a larger market share, and stable private real estate enterprises will maintain a solid advantage in the industry competition
In the sales performance list of real estate enterprises in Chongqing in 2021, rongchuang Chongqing ranked first with RMB 21.37 billion, Chongqing Longhu ranked second with RMB 20.88 billion, and Chongqing Vanke and Jinke group ranked third and fourth respectively.
On the performance list of national real estate enterprises in 2021 released by Kerui, Huayu Real estate, a local real estate enterprise in Chongqing, maintained a growth trend for three consecutive years, ranking 52nd with full caliber sales of 76.04 billion yuan, 10.2 billion yuan more than 65.84 billion yuan in 2020, and the ranking increased by 8 places; Dongyuan real estate ranks 62nd with 55.37 billion yuan.
sales performance of typical real estate enterprises in Chongqing in 2021 (full caliber)
data source: Yihan think tank
The reporter of the daily economic news noted that the former "first brother" Sichuan Languang Development Co.Ltd(600466) of Sichuan real estate enterprises failed to be listed because of debt problems. According to the latest announcement of Sichuan Languang Development Co.Ltd(600466) , by the third quarter of 2021, its total liabilities had reached 184.6 billion yuan. Since 2021, Sichuan Languang Development Co.Ltd(600466) has transferred high-quality equity for many times in order to reduce the debt pressure. On December 23 last year, due to the transfer of its subsidiaries at the price of 1 yuan, an inquiry letter from the Shanghai Stock Exchange was received.
Similar to Sichuan Languang Development Co.Ltd(600466) fate, there is Xie Xin, who was once listed as one of the "five golden flowers" of Chongqing real estate enterprises. Although Wu Xu, founder of Concord, sold most of the company's equity to Singapore Urban Development Co., Ltd. (CDL) of Fenglong group for a total price of 4.39 billion yuan a year ago, it still failed to effectively solve the debt problem of Concord Yuanchuang. In March 2021, Xiexin Yuanchuang began to default on its debt, and then its capital crisis continued to ferment. On October 14, six months later, Chongqing No. 5 intermediate people's court officially ruled that Xiexin Yuanchuang officially entered the bankruptcy reorganization procedure. According to the semi annual report of bonds of Xiexin Yuanchuang in 2021, as of August 13, 2021, the overdue debt of Xiexin Yuanchuang and its subsidiaries involved the amount of principal and interest of RMB 13.225 billion.
Yan Yuejin pointed out to the reporter of the daily economic news, "For the market situation in 2021, in fact, the pressure on the Sichuan market is a little greater, and the Chongqing market is relatively good. A very important reason is that after the tightening of the real estate policy similar to Chengdu market in the Sichuan market, the market will cool rapidly, which will also have an impact on other markets in Sichuan. However, the house purchase policy in Chongqing market is relatively loose, so the relative pressure is less than that in Sichuan Market. "
Real estate enterprises' land acquisition expectation is more conservative
From the implementation of the concept of Chengdu Chongqing dual city economic circle in January 2020 to the recent release of the joint implementation plan for Chongqing and Sichuan provinces to implement the planning outline for the construction of Chengdu Chongqing dual city economic circle, the road map for Chengdu and Chongqing to sing the "tale of two cities" and jointly build an economic circle has become clearer. Under the new development opportunities, what are the new actions of local real estate enterprises in Sichuan and Chongqing?
Let's first look at the performance of two 100 billion real estate enterprises in Sichuan and Chongqing in the land market. According to the data of China Index Research Institute, in 2021, Jinke's land acquisition amount in the national open market was 14.4 billion yuan and the new land area was 3.48 million square meters; New Hope Liuhe Co.Ltd(000876) the land acquisition amount of real estate is 15.5 billion yuan, and the new land storage is 1.52 million square meters; The land acquisition amount of Dongyuan real estate is 7.2 billion yuan, and the new soil storage area is 1.54 million square meters.
However, as far as Chengdu and Chongqing are concerned, in 2021, Jinke group ranked second in Chongqing and failed to rank among the top 20 in Chengdu; New Hope Liuhe Co.Ltd(000876) the land acquisition amount of real estate ranks 15th in greater Chengdu, and does not rank in the top 20 in the ranking of new soil storage and construction area in greater Chongqing.
data source: Kerui Sichuan
The reporter of the daily economic news noted that affected by factors such as centralized land supply and tightened financing environment, land acquisition by private real estate enterprises has decreased sharply since 2021, both in Chongqing and Chengdu.
According to the statistics of Kerui Sichuan, among the three batches of centralized land supply in Chengdu this year, about 80 real estate enterprises have successfully obtained the land. The top 10 real estate enterprises have divided about 40% of the land market in Chengdu this year, and the remaining 70 real estate enterprises have divided another 60%. In terms of the nature of the top 10 real estate enterprises with a total amount of land, central enterprises and the state occupy 9 seats. There is only one private real estate enterprise, Longhu group, ranking sixth.
"Due to the increased difficulty in obtaining land and the limited profit space, in addition to seeking diversified ways to obtain land in the open market, some leading enterprises actively obtain land plots through TOD cooperation, acquisition and merger, industrial land acquisition, urban renewal and other ways relying on their enterprise resources." According to the southwest region of Yihan think tank, for example, Vanke actively expanded its positions by acquiring the equity of TOD project of the school of administration, the plot of locomotive factory, the equity of Blu ray Tianfu Black Diamond project and the equity of Shengshi Jingwei Company, and its annual performance remained in the forefront.
in 2021, Chongqing real estate enterprises will take the top 20
data source: Kerui Chongqing
In Chongqing, the head real estate enterprises are still the main force of land acquisition. According to Kerui Chongqing data, the overall land market in Chongqing showed a "hot" - "cold" - "stable" change in 2021. The investment of real estate enterprises was significantly affected by policy adjustment. The top 3 new land reserves in Chongqing were won by rongchuang, Jinke and Longhu respectively. In 2021, rongchuang China will add 2482000 square meters of construction area in Chongqing, 2109000 square meters in Jinke and 1304000 square meters in Longhu.
Overall, only Longhu has made some gains in three batches of centralized land supply in Chengdu and Chongqing. "During the market adjustment period, the investment willingness of districts and counties where real estate enterprises sink is weakened, and the expectation of regional value for investment is more conservative." Kerry Chongqing analysis said that this also tests the diversity of investment strategies and models of real estate enterprises. For example, in addition to the bidding, auction and listing level, Jinke also plans in the future by means of equity acquisition + OEM + equity acquisition + debt repayment acquisition, and realizes the overall increase of 2.109 million square meters of reserves in Chongqing through a variety of ways.
"Affected by the overall adjustment of the real estate market this year, Sichuan and Chongqing real estate enterprises generally show a shrinking trend." Liu Lu, professor and doctoral supervisor of the school of economics of Southwest University of Finance and economics, told the daily economic news that under the background of accelerating the construction and development of Chengdu Chongqing economic circle, Sichuan and Chongqing real estate enterprises will usher in more market opportunities, which is very beneficial to the overall adjustment of "hedging" the real estate market. Therefore, Sichuan and Chongqing real estate enterprises can actively adjust their investment strategies and make their own business adjustment and layout according to the specific rhythm of the landing of some major projects in the construction of Chengdu Chongqing economic circle.
Frequent changes in the structure and personnel of real estate enterprises
The changes are not only the performance ranking of real estate enterprises, but also the frequent changes in the structure and executives of real estate enterprises in Sichuan and Chongqing.
On October 26, 2021, Shi Fei, executive general manager of Vanke Chengdu company, submitted his resignation application and prepared to start a business. Feng zhaochen, former general manager of Vanke Chengdu company and current deputy general manager of Vanke southwest region, will return to his original position to fill the vacancy after Shi Fei left his post.
Around this time, many southwest regional companies of national real estate enterprises also experienced frequent personnel changes, including the resignation of Li Guodong, former president of Zhongliang west region, President of zhongang group, Wang Guoxiong, vice president of Huayu group, and Bo Luwei, general manager of southwest region of Zhongjun group.
According to incomplete statistics, since 2021, there have been more than ten companies with personnel changes in the southwest of real estate enterprises, including Jinke, Evergrande, China Resources, CNOOC and jiazhaoye. In addition to the two important positions of president and general manager, the marketing general manager has changed the most.
In addition to personnel changes, in the organizational structure adjustment of real estate enterprises, the southwest region has also become an option for merger and integration. Last October, Yango Group Co.Ltd(000671) Shanghai region merged Chengdu Chongqing region to jointly establish a new region; Zhongnan real estate carried out regional integration and merged Chengdu Chongqing region and Yunnan Guizhou region into southwest regional company; In the organizational structure adjustment of jiazhaoye, Chengdu real estate company was abolished; Xinaopeng, an old real estate enterprise in Chongqing, even revoked Chongqing company last year and incorporated it into Yuzhou industrial group.
At the same time, the number of projects in Sichuan and Chongqing is also decreasing year by year on the top 100 list of project sales of Chinese real estate enterprises released by Kerry.
According to the latest ranking, in 2021, Chengdu Luhu eco city ranked 18th, 54th and 74th with annual sales of 8.97 billion yuan, Chengdu Jianfa central seal of 6.32 billion yuan and Chongqing OCT of 5.86 billion yuan. In 2020, the top ranked Chongqing rongchuang cultural tourism city ranked top 5 in the list with annual sales of 10.86 billion yuan; Chengdu Luhu ecological city, Chengdu habitat East Lake Long Island and Chengdu poly era all entered the list with annual sales of more than 5 billion yuan.
(Daily Economic News)
