soho property receives 15 tickets a day
totally fined 115 million
According to the information on the official website of Beijing market supervision and Administration Bureau, on March 21, soho’s 15 property management companies in China were fined 115 million yuan for illegal acts such as charging electricity charges
The decision on administrative punishment shows that:
SOHO China’s Beijing SOHO Property Management Co., Ltd. is responsible for operating Beijing Galaxy SOHO, SOHO Shangdu, Danling SOHO, Qianmen SOHO, Beijing Centergate Technologies (Holding) Co.Ltd(000931) soho, Lize SOHO, SOHO Beijing residence, Sanlitun SOHO, Wangjing SOHO, Chaoyang Gate SOHO, Guanghua Road SOHO, Chaowai SOHO, Jianwai SOHO, SOHO Jiasheng center and other projects. , The fees illegally collected totaled 768584 million yuan , which was ordered to return the fees illegally collected and fined a total of 115 million yuan by the market supervision and administration departments of all districts of Beijing
Industrial and commercial information shows that Beijing SOHO Property Management Co., Ltd. is a subsidiary of SOHO China, which is responsible for the property management of business writing projects under SOHO China.
Pan Shiyi plans to sell his house at a 20% discount
income is used to reduce liabilities
On March 10, SOHO China official wechat disclosed that Pan Shiyi announced that he planned to sell some properties of 32000 square meters in Beijing and Shanghai at a 20% discount price, Pan Shiyi also clearly responded to the speculation of the outside world about the flow of funds. He said that all the income from the sale of houses would be used to reduce liabilities and would not be used as stock dividends
“The company’s debt is due in the near future. It’s only natural for us to repay the debt. We won’t owe anyone or any unit money. We believe that there is no ‘goods that can’t be sold, only the price that can’t be sold’ in the market, so we decided to sell at a cost.”
soho China said that in order to optimize the asset structure and alleviate the financial pressure, it launched 32000 square meters of houses at a 20% discount , covering nine projects such as Galaxy SOHO, Sanlitun SOHO, SOHO East China Sea square and SOHO Zhongshan Square. All of them are located in the urban core of Beijing and Shanghai, covering various types of businesses such as offices, businesses and apartments, including houses with leases and whole floors.
21st Century Business Herald inquired the semi annual report and found that as of June 30, 2021, the total area of leased properties held by SOHO China was 83065 square meters, and the area of houses sold this time accounted for about 3.85% of the total area.
It is reported that SOHO China hopes to “reduce the burden” through this adjustment, respond to market changes with a more flexible attitude and seek long-term and healthy development. At the same time, SOHO China will also increase the proportion of commission and bonus to 4% of the transaction volume.
At present, SOHO China’s net asset liability ratio is about 44%. By the end of 2021, the average rental rate of SOHO China is 83.4%, of which Shanghai Gubei SOHO has achieved full rent and Beijing Lize SOHO has also exceeded 80%, both reaching the highest level since the two projects entered the market.
soho is the property on sale with a 70% discount in China really cheap
It can be seen from the wechat “SOHO China public rental and sale platform” applet that the “asset package” planned to be sold by the company this time mainly includes 9 projects located in Beijing: Galaxy SOHO, Beijing Centergate Technologies (Holding) Co.Ltd(000931) soho, Chaowai SOHO, SOHO Beijing residence, Chaoyang Gate SOHO, Sanlitun SOHO, Jianwai SOHO, and SOHO Zhongshan Square and SOHO East China Sea square in Shanghai.
These projects cover various business forms of office, commercial and apartment, many of which include leases and whole floor houses scarce in the market.
Among them, Galaxy SOHO has a total of 15 houses on sale, of which 11 are in Block D, and the remaining 4 are rooms 20709 to 20711 on the 7th floor of block B and the whole floor office on the 12th floor of block a. the area for sale on this floor is 283114 square meters, and the listing price is 48000 yuan per square meter.
according to rough calculation, the total listing price of houses for sale contained in these assets is about 1.3 billion yuan
According to SOHO China, these properties to be sold are high-quality houses with “stable rental return and high investment cost performance”. According to the data, in the first half of 2021, among the 9 properties sold at a 70% discount, the rental rate of 4 properties reached more than 90%.
soho China actively recommended itself in the article, saying that “70% off sale is a good opportunity to pick up leaks”
However, the reporter of Beijing Youth Daily found after inquiry that the prices of multiple projects are still higher than the prices of surrounding projects after a 70% discount, or just flat that is to say, the selling price of SOHO China after a 70% discount is not much different from the market price. The reporter searched the relevant housing information in Lianjia app and found that a set of housing to be sold in Galaxy SOHO covers an area of 173.58 square meters, and the listing unit price is only 41307 yuan per square meter. There are 33 sets of Jianwai SOHO in the sales source. The average participation price in February is 55067 yuan, and the listing price is roughly distributed between 49000 yuan per square meter and 58000 yuan per square meter.
last year, Pan Shiyi received multiple tickets
On December 7, 2021, the Shanghai municipal market supervision and Administration Bureau disclosed that due to the illegal act of charging more electricity fees to merchants, several branches of Beijing sohou Property Management Co., Ltd. in Shanghai received seven consecutive administrative penalties, were given warnings and fined a total of 86.64 million yuan Beijing sohou Property Management Co., Ltd. is a wholly-owned subsidiary of SOHO China.
Jianhua land under Pan Shiyi was fined 709 million yuan for tax evasion
On December 17, 2021, Pan Shiyi received the ticket again after 10 days, Beijing Jianhua land, which was appointed as the legal person, was fined 709 million yuan by the Beijing municipal tax inspection department according to law for tax evasion
According to the website of Beijing Municipal Taxation Bureau of the State Administration of Taxation, after investigation, Beijing Jianhua land Co., Ltd. deducted more costs in violation of regulations, made false declaration and paid 198 million yuan less land value-added tax and enterprise income tax in the land value-added tax settlement and enterprise income tax settlement of SOHO Shangdu project (phase II and phase III).
According to the law of the people’s Republic of China on the administration of tax collection, the law of the people’s Republic of China on administrative penalties and other laws and regulations, tax authorities shall recover taxes, impose overdue fines and impose a fine of 2.5 times, totaling 709 million yuan
According to the information, Beijing Jianhua land Co., Ltd. was established in 1994, with SOHO China holding 60%, Beijing Huayuan Real Estate Co., Ltd. holding 40%, Pan Shiyi as the legal representative and chairman, and Zhang Xin as the vice chairman.
As early as October 22 this year, the Beijing Municipal Taxation Bureau of the State Administration of Taxation informed that after receiving a report on the suspected tax evasion of SOHO China’s subordinate enterprise Beijing Jianhua land Co., Ltd., the Inspection Bureau of the Beijing Municipal Taxation Bureau, after the analysis and judgment of tax big data, filed a case for inspection in accordance with the law.
As of press time, SOHO China’s share price was HK $1.57/share, down 1.26%, with a market value of HK $8.16 billion.
