On January 5, Yango Group Co.Ltd(000671) executive chairman and president Zhu Rongbin announced his formal resignation; On January 7, Yango Group Co.Ltd(000671) Xie Kun, President of Hebei regional company, issued an open letter to the company, saying that the company had encountered the biggest crisis since its establishment. People close to Yango Group Co.Ltd(000671) confirmed the authenticity of the letter to the reporter of the daily economic news.
Xie Kun said in his letter that at present, Tianjin and Hebei are Yango Group Co.Ltd(000671) the most difficult areas. “President Zhu officially left Yango Group Co.Ltd(000671) yesterday (January 5), which also means the end of the expansion era of Yango Group Co.Ltd(000671) Shuangbin. From Yango Group Co.Ltd(000671) 2 billion to 200 billion, the top leaders of the group management from Chen Kai to Zhu Rongbin and then to Xu Guohong will naturally usher in great changes in the organization with the changes of the times and the great changes in the industry.”
To this end, Xie Kun said that the company must make changes and hoped that all colleagues could accept and embrace this inevitable process and result.
Xie Kun said that on January 6, Tianjin Hebei region, Shanxi region and Beijing region were officially merged. In the future, the personnel of Tianjin platform, Hebei platform and Shanxi platform will be cancelled. The background personnel will work in Beijing and the project group office will be managed centrally. It is similar to the minimalist organization 2.0 of country garden, which may also be a change of efficiency management organization of the company.
The merger of the original three regional functions means that some personnel will be eliminated, and only the most appropriate personnel will be retained and selected. One of the three will be selected. There may be some small changes in the project, but the impact should not be too great.
For the merger and adjustment of the region, Yango Group Co.Ltd(000671) responded to reporters that these regions have indeed changed.
Previously, Yango Group Co.Ltd(000671) there was a rumor of project shutdown in North China due to the tight capital chain, but then Yango Group Co.Ltd(000671) denied it. Statistics show that Yango Group Co.Ltd(000671) officially entered the Beijing Tianjin Hebei region in 2015, but the sales of the region has not exceeded 10 billion yuan since 2018. In fact, earlier Yango Group Co.Ltd(000671) Beijing company had high hopes. As a Fujian real estate enterprise headquartered in Shanghai, being able to enter Beijing and gain a firm foothold means opening the northern market and truly realizing nationalization. In the first half of 2021, the sales of Beijing, Tianjin and Hebei accounted for 3.3% of Yango Group Co.Ltd(000671) as a whole, ranking the bottom in all major regions.
58 Zhang Bo, President of anjuke Real Estate Research Institute branch, said that under the environment of significantly increasing financing pressure of real estate enterprises, the liquidity of executives in the real estate development industry is also increasing. Yango Group Co.Ltd(000671) is facing increasing pressure. On the one hand, the debt pressure is not reduced and there is a cashing risk. At the same time, it has different opinions with the shareholder Taikang. Under various pressures, Yango Group Co.Ltd(000671) personnel changes are also normal, but it is unknown whether the current adjustment will help it quickly get out of the dilemma.
(source: Daily Economic News)
