Recently, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) ( Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , SZ; yesterday’s closing price was 8.24 yuan) held an online performance briefing for 2021, which was attended by Chairman Qi Jinxing, chief financial officer Shen Weidong and other management.
At the meeting, in response to the reporter of the daily economic news’s question about “Binjiang’s land acquisition is very positive this year, and how to treat the real estate market in Hangzhou and Zhejiang”, chairman Qi Jinxing said, “under the overall regulation and control policy of” housing without speculation “, the overall operation of Zhejiang’s real estate market is stable, and Hangzhou is one of the few cities with balanced supply and demand in China.”
single month land acquisition 17
In the first batch of centralized land supply transfer in Hangzhou on April 25, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) obtained 11 plots with a total price of 18.435 billion yuan. On May 8, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) won six land parcels of Yango Group Co.Ltd(000671) located in Yongkang City, Zhejiang Province by means of acquisition and merger, with a total consideration of about 5.632 billion yuan.
This made the ranking of Hangzhou Binjiang Real Estate Group Co.Ltd(002244) equity land acquisition amount rise rapidly. According to the list of top 100 Chinese real estate enterprises’ equity land acquisition amount from January to April 2022 released by China Index Research Institute, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) ranked fifth with an equity land acquisition amount of 18.2 billion yuan.
At present, the real estate market as a whole is in a downward cycle. When the private real estate enterprises are extremely cautious in taking land, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) why do they choose to actively expand the storage at this time? Can its revenue scale grow against the trend?
“Binjiang won 11 pieces of land. According to the calculation of the investment department, the income is slightly different, and the average net profit is about 8% Qi Jinxing said that the overall profit margin of the company’s land acquisition this year is higher than that of last year.
In the first batch of centralized land supply in Hangzhou last year, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) won five pieces of land. When talking about the profits of these plots at the performance meeting last year, Qi Jinxing said that “strive to achieve the net profit level of 1% ~ 2%.
With regard to the project progress and other issues concerned by many parties, Qi Jinxing said that “the company will strictly promote the project progress. The number of projects delivered this year will not necessarily increase, but the delivery time may be moderately advanced.”
Looking back on 2021, there were 38 new land reserve projects in Binjiang, of which 35 projects were distributed in 8 prefecture level cities in Zhejiang Province, with a cumulative new land area of 2.029 million square meters, a new land storage capacity building area of 4.694 million square meters, and a new equity ratio of land storage value of 56.6%. Qi Jinxing said, “the equity ratio of the company has been increasing in the past three years, from about 50% three years ago to 56% last year, and the future goal is about 60%
this year’s sales target exceeds 150 billion
The annual report shows that Hangzhou Binjiang Real Estate Group Co.Ltd(002244) achieved an operating revenue of 37.976 billion yuan and a net profit attributable to the parent company of 3.027 billion yuan in 2021, with a year-on-year increase of 32.80% and 30.06% respectively; The cumulative sales volume reached 169.1 billion yuan, an increase of 24% year-on-year Shen Weidong, chief financial officer of Hangzhou Binjiang Real Estate Group Co.Ltd(002244) said, “the sales target of Hangzhou Binjiang Real Estate Group Co.Ltd(002244) 2022 is set at 150 billion ~ 160 billion yuan.”
By the end of 2021, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) had total assets of RMB 211726 billion and net assets attributable to shareholders of listed companies of RMB 20.579 billion, an increase of 23.09% and 12.03% respectively over the same period of last year.
Since the beginning of this year, the sales of various real estate enterprise camps, including the head real estate enterprises, have declined. Qi Jinxing admitted at the performance meeting that the sales of Binjiang from January to April decreased compared with the same period last year, mainly because the proportion of Hangzhou real estate in the company reached 68%. The company sold only four new real estate in Hangzhou from January to April, and the release of a large number of new real estate began in May.
By the end of 2021, Hangzhou accounted for 60% of the Hangzhou Binjiang Real Estate Group Co.Ltd(002244) land reserve, cities other than Hangzhou in Zhejiang Province including Ningbo, Jiaxing, Wenzhou, Jinhua, Huzhou, Taizhou and other second and third tier cities with solid economic foundation accounted for 25%, and cities outside Zhejiang province accounted for 15%.
Based on his confidence in the Hangzhou market, Qi Jinxing said, “Zhejiang, especially Hangzhou, is the stronghold of Binjiang. Under the guidance of the central government’s” no speculation in housing “,” stable land price, stable house price and stable expectation “, Zhejiang’s real estate market has maintained sustainable and healthy development. In the past few years, the company’s market share in Hangzhou has been about 10%, and we will continue to maintain Hangzhou’s market position in the next few years.”
