The cold winter of real estate has not passed. Under this background, real estate intermediary enterprises are also facing the dilemma of performance loss. On April 30, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) released the annual report of 2021. In 2021, the company achieved an operating revenue of 3.798 billion yuan, a year-on-year decrease of 13.66%; The net profit attributable to the parent company was a loss of 1.122 billion yuan, compared with a loss of 2.975 billion yuan in the same period in 2020.
On the same day, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) released the first quarterly report of 2022. In the first quarter of this year, the operating revenue of the company was 5.65 billion yuan, a year-on-year decrease of 5.64%; The net profit attributable to the parent company was a loss of 108 million yuan, a year-on-year decrease of 18.24%.
real estate intermediary service business suffered serious losses
For the reasons for the loss of main business in 2021, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) said that it was mainly due to the serious loss of the company’s real estate intermediary service business. First, due to the impact of policy regulation, the operating income of Shenzhen, the main source of profit, has fallen sharply; Second, the company continued the policy of increasing the proportion of broker’s Commission in the second half of 2020, and the relevant variable costs increased more year-on-year. Although the proportion of broker’s Commission was reduced in the fourth quarter, it had little impact on the decline of variable costs in the whole year; Third, in the first half of 2021, the company added about 400 stores and closed some inefficient stores, resulting in a large increase in relevant costs.
In 2021, the real estate industry experienced a series of policy adjustments from in-depth regulation to stability maintenance, and the overall sales of real estate enterprises in the whole year was not optimistic. According to the data released by Kerui, the cumulative total sales of the top 100 real estate enterprises decreased by 3.5% year-on-year in 2021, the first decline since 2011. Among them, the cumulative performance of nearly 40% of the top 100 real estate enterprises decreased year-on-year, and the number was significantly higher than that in 2020.
According to the data of the National Bureau of statistics, the national commercial housing sales fell by 23% year-on-year in the first quarter of 2022. The de urbanization rate of key cities has fallen below the low level in 2014. In terms of urban online signing, the year-on-year decline of new houses and second-hand houses also expanded, reaching 41% and 34% respectively.
The downturn of the real estate industry will inevitably affect the business development of real estate intermediary service enterprises. Q real estate network is the main carrier of Hubei Guochuang Hi-Tech Material Co.Ltd(002377) carrying out real estate intermediary business. On March 8, Q room announced that it planned to close all stores in Shanghai.
Yan Yuejin, research director of think tank center of E-House Research Institute, said in an interview with Securities Daily: “The overall environment is a very important factor. Since Hubei Guochuang Hi-Tech Material Co.Ltd(002377) acquired Q real estate network, the overall scale of real estate has gone up, but the dependence on real estate intermediary platform is declining. Even in some large cities, whether the market is good or not, the dependence on intermediary platform is not high. This kind of Internet platform has made a lot of innovations in the past two years, but on the whole, there are few real breakthroughs.”
cross border transformation real estate intermediary
Hubei Guochuang Hi-Tech Material Co.Ltd(002377) is not familiar with the real estate intermediary business Hubei Guochuang Hi-Tech Material Co.Ltd(002377) was established in Wuhan on March 25, 2002. The controlling shareholder is guochuang high tech Industrial Group Co., Ltd. (hereinafter referred to as “guochuang group”). In March 2010, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) was listed on Shenzhen Stock Exchange. According to the prospectus, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) ‘s products have a market share of more than 15% in the modified asphalt market of new expressways in China, ranking among the top three in the same industry in China, and ranking first in the market share of new expressways in Hubei, Shaanxi and Guangxi for many years.
On May 17, 2017, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) announced that the major asset restructuring of the acquisition of Shenzhen Yunfang was approved by the CSRC Hubei Guochuang Hi-Tech Material Co.Ltd(002377) wholly-owned acquisition of Shenzhen Yunfang Network Technology Co., Ltd. (q-room network). Thus, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) officially launched the new operation mode of dual main businesses of asphalt production and R & D and real estate big data service.
In 2020, the performance of Shenzhen cloud house decreased significantly, the operating revenue decreased by 238 million yuan, and the net profit was 528363 million yuan. Losses continued in 2021, with a net profit of 790 million yuan.
In an interview with the Securities Daily, a senior person in the capital market said that the trading volume of both new and second-hand houses decreased due to the combination of previous real estate regulation policies and the epidemic. Housing intermediary companies relying on the real estate trading market will be the first industry to bear the brunt. At present, various localities have gradually introduced policies to stabilize the property market, but the epidemic is still not over, and the recovery of market purchasing power will take some time. In the future, real estate intermediary enterprises may still face an uncertain and difficult period.
Hubei Guochuang Hi-Tech Material Co.Ltd(002377) how will you save yourself? How to transform in the future? The reporter of Securities Daily contacted Peng Yachao, Secretary of Hubei Guochuang Hi-Tech Material Co.Ltd(002377) board of directors, but no reply was received as of press time.
