"The real estate industry has changed from surfing to sailing. We want to say that the waves can be seen, but the wind is not there. Only by continuously improving their ability and finding the right wind direction can they go up against the wind."
On the afternoon of March 31, Seazen Holdings Co.Ltd(601155) held the 2021 annual performance meeting. Wang Xiaosong, chairman of Seazen Holdings Co.Ltd(601155) ( Seazen Holdings Co.Ltd(601155) . SH), said that the change of the whole real estate industry is the constant truth. "I believe that no winter will pass and no spring will come."
In terms of performance, the new city went relatively smoothly in 2021, with an operating revenue of 168232 billion yuan, a year-on-year increase of 15.64%; The net profit attributable to the parent company is 12.598 billion yuan, and the net profit not attributable to the parent company is 10.245 billion yuan.
introduce equity investors at the project end
Seazen Holdings Co.Ltd(601155) senior vice president and financial officer Guan Youdong said that in 2021, the overall difficulty of financing has increased, but the company has no undisclosed private debt and employee financial management. Of the total debt of 89.9 billion yuan, 10.9 billion yuan was financed through Wuyue Plaza.
Guan Youdong said that there is still more room to revitalize in the future.
The new town has completed the transformation from "three red lines" to green. The monthly debt due in March is 4.3 billion yuan, which is the peak of the company's annual repayment. At present, it has passed smoothly. The remaining mature bonds are evenly distributed every month, and the corresponding arrangement has been made to form an overall debt repayment idea. On the one hand, we should reasonably control the financing cost, while paying attention to the open market opportunities and the asset revitalization opportunities of Wuyue Plaza.
Wang Xiaosong said that Xincheng has made preparations for the repayment of its own funds, and it is necessary to make sure that each fund should be repaid when due. Some private enterprises had some difficulties some time ago. In particular, the bond price in the secondary market fluctuated to a certain extent, resulting in generally high bond issuance interest rates.
Previously, Xincheng has redeemed two US dollar bonds at the original price twice in advance.
Wang Xiaosong said that in the short term, with the introduction of financing side policies, the decline of mortgage interest rates and the introduction of demand side support policies in some cities, we hope that a single spark can start a prairie fire. Next, the company will introduce equity investors in the project side to further improve financial security.
ensuring safety is the first element
Wang Xiaosong said that after this round of reshuffle, enterprises have conducted a full self-examination. High leverage is a booster when going up and the last straw to crush the camel when going down.
From 2022, the new city will not blindly pursue scale, but change from increment to quality improvement. Its core competitiveness will return to products, and always pay attention to the market scene and industry trend. By the end of December 2021, the marketable value of Xincheng has been no less than 280 billion yuan.
Wang Xiaosong said that he still hopes to bring positive energy to the industry in a special period, so that everyone can see that the enterprise is working hard, and I hope you will always believe in the new city.
Wang Xiaosong revealed that since October last year, Xincheng has given certain discounts to projects under pressure and customers with a high proportion of down payment. This keeps the monthly sales of Xincheng at more than 20 billion yuan, which has a certain impact on the average price and profit margin.
Qu Dejun, the Seazen Holdings Co.Ltd(601155) director and co president, said that some Wuyue squares were affected to varying degrees by the epidemic, and the projects in individual cities were closed in stages as required. The company gave appropriate support to the parent-child and entertainment business forms with strict government control. At the same time, the opening of the two squares was postponed directly, resulting in a reduction of revenue of 75 million yuan.
Wang Xiaosong said that no matter how difficult the industry is, the new city still pays close attention to the land market. We will further strengthen the research on the land market and choose the time, city and place to ensure the long-term and stable development of the new city under the condition of ensuring the safety of cash flow.
Shortly after the end of the performance meeting, on the evening of March 31, Seazen Holdings Co.Ltd(601155) announced that the company planned to buy back the company's shares through the trading system of Shanghai Stock Exchange in the form of centralized bidding transaction. Based on the calculation of the maximum repurchase capital of 200 million yuan and the maximum repurchase price of 41.39 yuan / share, the number of repurchases was about 4.83 million shares (inclusive), accounting for 0.21% of the company's current total share capital.
