In 2021, Grandjoy Holdings Group Co.Ltd(000031) holding realized counter trend expansion.
On April 11, 2022, Grandjoy Holdings Group Co.Ltd(000031) holdings released its annual report for 2021, which showed that the sales performance of the project during the year was good, the contracted amount reached a new high, the contracted amount was 72.7 billion yuan, an increase of 5% over last year, and the contracted area was 2.87 million square meters, a year-on-year decrease of 8%.
However, if we continue to examine it in depth, what Grandjoy Holdings Group Co.Ltd(000031) Holdings has achieved is far from being covered by simple groups of data, and the "service provider for urban operation and a better life" it advocates is gradually becoming clear.
new high
In 2021, in Shanghai, COFCO Ruihong Seaview No. 1 opened three times and ran out three times. In Xi'an, COFCO Olympic Sports No. 1 opened four times and ran out four times. In Suzhou, the big Yuelan court was sold out at the first opening. Nanchang, Xiangyun Yuefu first opened, with a 90% decontamination rate.
This is a powerful proof that Grandjoy Holdings Group Co.Ltd(000031) holding's product strength and brand strength have been continuously improved.
Even in the face of the impact of the epidemic in 2021 and policy regulation, Grandjoy Holdings Group Co.Ltd(000031) holding still achieved a record signing amount of 72.7 billion yuan, an increase of 5% over last year, with a signing area of 2.87 million square meters.
As the endogenous power of development has been enhanced by accelerating its own inventory turnover, Grandjoy Holdings Group Co.Ltd(000031) holdings received 76.41 billion yuan in full caliber sales in 2021. During the reporting period, Grandjoy Holdings Group Co.Ltd(000031) holdings achieved an operating income of 42.614 billion yuan, an increase of 4.169 billion yuan or 10.84% year-on-year.
At the end of 2021, the total assets of Grandjoy Holdings Group Co.Ltd(000031) holding were RMB 212727 billion, an increase of 6.43% over the beginning of the year; The net assets attributable to shareholders of listed companies were 18.838 billion yuan, an increase of 2.66% over the beginning of the year.
In terms of business, in 2021, the cumulative sales of 19 Grandjoy Holdings Group Co.Ltd(000031) , chunfengli and Xiangyun Town projects were 25.99 billion yuan, a year-on-year increase of 40%; The cumulative passenger flow was 206 million, with a year-on-year increase of 31%. By the end of 2021, the total number of members had reached 11.18 million, an increase of 29.75% over 2020 (8.616 million), and the consumption of members accounted for 32.1%.
At the end of the reporting period, Grandjoy Holdings Group Co.Ltd(000031) holding's commercial standard product line has opened 18 shopping centers (including light assets), including 15 Grandjoy Holdings Group Co.Ltd(000031) shopping centers and 3 Dayue chunfengli projects, with a total construction area of 4.101 million square meters, a commercial area of 2.728 million square meters and a rentable area of 1.378 million square meters, with an average occupancy rate of 94.3%; There are 6 other non standardized products in operation (such as Chengdu hongyunyue street, Hangzhou Grandjoy Holdings Group Co.Ltd(000031) Yuejie street, Beijing Yongfeng Yuejie, etc.), with a total construction area of 319000 square meters and a commercial area of 209000 square meters. There are 20 projects under construction, including Grandjoy Holdings Group Co.Ltd(000031) , Dayue chunfengli, Xiangyun Town and non-standard projects, with a commercial area of about 1788000 square meters.
In terms of land reserve, during the reporting period, Grandjoy Holdings Group Co.Ltd(000031) holdings acquired 16 projects. At present, the company has entered 38 cities across the country, and the land reserve is mainly distributed in core metropolitan areas such as Beijing Tianjin Hebei, the Yangtze River Delta, the middle reaches of the Yangtze River, the Great Bay area of Guangdong, Hong Kong and Macao, Chengdu and Chongqing. The newly added land area is 1.47 million square meters, the newly added land storage capacity building area is 3.27 million square meters, the total land payment is 31.6 billion yuan, the average floor price is 9659 yuan / square meter, and the average premium rate is 16%.
From the perspective of layout, 39% of the new land reserves are located in the Yangtze River Delta urban agglomeration, 23% in the Chengdu Chongqing economic circle and 9% in the Beijing Tianjin Hebei Urban Agglomeration. The land cost of most plots is lower than that of surrounding projects. By the end of the reporting period, the marketable value of Grandjoy Holdings Group Co.Ltd(000031) holding land reserve was about 223 billion yuan.
qualitative
In the middle of 2021, many real estate enterprises are on the verge of struggling to survive, but Grandjoy Holdings Group Co.Ltd(000031) holding still maintained high-quality development.
In 2021, the amount of bank loans was relatively tight, and payment collection became a difficulty for real estate enterprises. Grandjoy Holdings Group Co.Ltd(000031) holdings actively responded to market changes through overall planning strategy. It immediately issued the "guidelines for special measures to accelerate sales payment collection", guided projects to accelerate sales payment collection, established an efficient payment collection mechanism, promoted the rapid implementation of solutions for difficult projects, and achieved high-quality payment collection throughout the year, with a record high comprehensive payment collection rate. During the reporting period, the company's full-scale settlement amount was 81.5 billion yuan, the settlement area was 3.47 million square meters, and the contract area sold but not settled was 3.72 million square meters.
The operation mode of asset light is also conducive to the lightweight operation of enterprises, but it is also a test of the operation ability of enterprises. In 2021, Grandjoy Holdings Group Co.Ltd(000031) made every effort to promote the implementation of commercial asset light management output projects, and made joint efforts in organization construction, system process, investment research and other aspects. Throughout the year, 7 asset light cooperation projects were implemented, of which 5 projects have reached cooperation agreements and signed during the reporting period, and the other 2 projects have been signed recently.
At the same time, the financial situation of Grandjoy Holdings Group Co.Ltd(000031) holdings is also improving. With good market credit, Grandjoy Holdings Group Co.Ltd(000031) holding innovated the financing form, improved the debt structure and accurately grasped the issuance opportunity. The average cost of new loans in 2021 was 4.63%, effectively reducing the overall financing cost of the company.
During the reporting period, Grandjoy Holdings Group Co.Ltd(000031) holdings issued 2 billion yuan of ABS for house purchase balance and 3.52 billion yuan of medium-term notes. The holding subsidiary Grandjoy Holdings Group Co.Ltd(000031) Real Estate Co., Ltd. successfully raised 600 million US dollars of club loans (of which 100 million US dollars was successfully certified as green loans by Hong Kong Quality Assurance Bureau); In addition, Grandjoy Holdings Group Co.Ltd(000031) holdings also actively explored the securitization of commercial property assets, formed a virtuous circle model of revitalizing the stock of high-quality commercial property, and successfully issued Shenyang Grandjoy Holdings Group Co.Ltd(000031) cmbs with a scale of 1.801 billion yuan.
At the end of the reporting period, the balance of interest bearing liabilities of the company was 71.798 billion yuan. The long-term and short-term financing structure was reasonably matched and continuously optimized. The average financing cost decreased to 4.91%, 0.19 percentage points lower than that at the beginning of the year, which is at a low level in the industry. In January 2022, the company successfully issued 1.5 billion yuan of corporate bonds again, with 3 + 2-year interest rate of 3.08% and 5 + 2-year interest rate of 3.49%, and the cost further decreased compared with 2021. At the end of the reporting period, the company's monetary capital balance was 24.886 billion yuan, the cash short-term debt ratio was 1.44, and the company's short-term solvency was strong.
Based on this, China Chengxin international credit rating Co., Ltd. and China Securities PENGYUAN credit rating Co., Ltd. maintain the AAA subject credit rating of Grandjoy Holdings Group Co.Ltd(000031) holding.
"city operation and better life service provider"
As China's economy moves towards high-quality development, the demand for the transformation and upgrading of the real estate industry and serving the people's better life is becoming stronger and stronger.
Therefore, the strategic direction of "urban operation and better life service provider" is also natural. At present, real estate enterprises gradually extend from simple development to urban operation and service, and from traditional residential development to the exploration and development of new products and new formats such as commercial real estate, industrial real estate, long-term rental apartments and pension real estate. Under this background, comprehensive national policy guidance, industry development trend and their own resource advantages, Actively integrate high-quality resources and form the inevitable trend of comprehensive innovation ability of urban development.
Looking forward to 2022, the real estate policy will continue to adhere to the direction of "housing without speculation", stabilize house prices, land prices and expectations, support the commercial housing market to better meet the reasonable housing needs of buyers, and promote the virtuous circle and healthy development of the real estate industry due to urban policies.
In 2022, Grandjoy Holdings Group Co.Ltd(000031) holdings will focus on investing in first tier, strong second tier and third and fourth tier cities with good economic development foundation, sustained population growth and good real estate market development, adhere to accurate investment, continuously optimize investment structure and realize steady expansion. Text / Wang Xiling
