129788443088281250_340Industry-wide stock market or has more than $ 5 trillion, expected shortfall will amount to $ 1.3 trillion this year 75 rooms has published annual reports and enterprise, total inventory value to 904.8 billion yuan, more than twice 2009 inventory more than double, while industry-wide stock market or over $ 5 trillion from the fool can make money "first half", the need to fight price,Spell spell quality, structure of the "second half", the report data to objectively reflect the real estate industry is going through transition depth adjustment Wei Wang Zhao Yi as of April 11, China vanke, constant, Poly, sea five ppl in March and the first quarter results and enterprise. According to the five ppl companies signed up a quarter of the total amount of 82.057 billion dollars, and last yearCompared to the first quarter, a drop of 10.7%. In March, contributed a quarter of the overall performance of the property market 43.4%. Even after the March of "small spring", large developers as a whole does not have the ability to achieve results significant growth, financial stress, difficult to inventory situation has not changed. From the fool can make money "first half", the need to fight price, tailor-quality,Tile structure of "second half", quarterly and annual reports of listed company data to objectively reflect the transformation of real estate industry is experiencing the depth adjustment. As regulation continues in-depth, real estate capital further highlights of the surface tension. Huge inventory, high leverage, severe differentiation of levels of performance, coupled with the macroeconomic effects and policy on the negative factors of comprehensive,Enterprises need to survival and development, right now, it seems that only "the price-for" a way out. Trading volume remained in the doldrums, price surges may occur this year "strict control" for two years, drew extraordinary attention to the annual report of listed real estate companies in 2011. As of April 8, the listing of more than 150 companies in domestic real estate enterprises at home and abroad, has 75 issued annual reports, There are more than 60 companies publish news or notices. Restriction of regulation policy, limit credit real estate, market turnover in major cities last year remains weak. However, most of the listed real estate companies still maintained sales growth, but at significantly slower. Annual report, achieving growth of enterprises of about 80%, and achieve the annual sales target of enterprisesIndustry is less than 30%. Only China resources land, into growth rates of less than 10 companies, such as accelerating the trend. SOHO China, green city, the city of millions of shares, companies such as Riverside group actually had negative growth. From the perspective of business income, the published room rate average of the annual growth of about 20%, housing and enterprise growth mostly over 30%. Such as vanke revenues of 717.$ 800 million, an increase of 41.6%; poly real estate (Twitter) (11.97,0.19,1.61%), operating income of 47.028 billion yuan, an increase of 31.02%. Song Yanqing, President of RAND consulting, enterprise revenue growth, first, benefited from the rise in the prices of; the second was due to the real estate industry after the sale and deliveryTaking into account settlement income of corporate accounting policy, 2011 annual report is more a reflection of 2010 sales revenue. Although sales are still growing, but most of the decline in corporate profits have suffered different degrees of. For example, the Rhine real estate 2011 net profit fell 60% per cent; 2011 Sun shares decline in net profit from a year earlier50%-80%. People in the industry think
tera power leveling, performance differentiation between enterprises become more obvious, say goodbye to real estate industry will be gradually "sudden huge Profil age". Turnover remains weak, leading to total inventory listed houses and enterprises increased. According to statistics, the 75 rooms has published annual reports and enterprise, total $ 904.8 billion stock market value, rose had reached 44.3%, more than 2009 inventory of $ 418.3 billion was reached more than twice, and industry-wide stock market or has more than $ 5 trillion. "Inventory will be the subject of most enterprises this year. "Beijing Zhongyuan real estate market research director Zhang Dawei stated that, in March of this year, there has been a certain degree of increase in trading volume, mainly because, after some significant price stimulusWarmer. In some cities, 10% price project occupied the cent of contracting, project sales is not cut out of it. But turnover is only average level of recovery by 2011, if turnover is still pessimistic, there may be price surge this year. Funding further tightening the chain, increased shortfall this year is expected to reach $ 1.3 trillion in stockAt the same time, listing of enterprise capital chain tight, liabilities at a high level, makes the enterprise more difficult. RAND Advisory on 49 listed companies annual report of studies show that 25 monetary funds shrink, last year. It is understood that the enterprise's main source of funds for bank loans, foreign investment, raise funds
tera gold, deposit and pre collection. The past few years, Bank funds loans to the real estate industry as a wholeSource-19% of, 15% 2011 only housing enterprises raise money has never been more than 40%, self-financing ratio in January-October last year developers have reached 41.2%. According to a Central Bank report, 2011 real estate loans count $ 1.26 trillion, down 38%. Market participants generally agreed that, in the regulation of real estate not movingShake policy background, 2012 Bank loans, in particular housing development loan may not add a lot. Since the first quarter of this year, several large-enterprise published a notice announcing funding, including country garden, investment real estate, agile, and so on. Feng Lianlian chain real estate market research, a number of large-scale intensive housing and enterprise financing in the first quarter, reflecting the room prices in 2012Capital demand of the large scale. Rising rates of indebtedness is further exacerbating the cash-strapped state. 49 companies, end of only 22 per cent reduction of indebtedness, increased to 55%. Wanke, merchants, the first opening, shimao four standard room rate of total liabilities, representing a rose, 41.8%, 53.5%, and 27.4%. Debt pressure, the housing Enterprise capital chain may be further tightened. Called the guotai Junan securities research report, industry adjustment compared to 2008, 2012 real estate industry chain are at higher risk, small and medium-sized developers funds greater pressure. Report estimates, real estate funding gap of up to $ 1.3 trillion, compared with 2008, an increase of 50%。 In addition, is worthy of attention, 2010 a large number of real estate investment trusts have also begun to be issued before and after entering the payment was at its peak. Size, due 2012 total reached $ 175.8 billion scale, full year payment scale. From 2011 onwards, Enterprise capital chain tightened will no longer be a secret. Some "cut meat to survive", and some enterprises simply"Takeover". Statistics show, 2011 more than 124 scale changes in ownership of the property market, trading value of 47.176 billion yuan, up up, 47.6%. In 2012, equity deals heat up again. Scale of national property market in January open market transactions (deal extra million dollars) deal reached by 20 cases, disclosure of market valueAt 6.78 billion yuan, compared to 2011 9 size of $ 3.1 billion in the same period rose 120%. Enterprise policy more rational, structured market pressures, in 2012, most of the listed room rate lowered its sales target for the year to cope with debt pressure and current real estate sales, reduction of some enterprises in different degrees, the new starting area index。 "From the inventory and financial situation, real estate companies are going through the most difficult times. "Song Yanqing said, listing a large number of non-core business and real estate development enterprises is likely to speed up" off of "speed, return to the core business. They vacated space will be filled by professional and enterprise market. Professional Enterprise by means of a sale to return money, then change back toGolden flow low price. In fact, faced with the same policy and market environment
tera power leveling, development trend of housing of different enterprises. This judgment of the situation on the market and not only enterprises, and companies directly related to the market structure and product structure. Positive growth in the annual reports of enterprises, mostly with a reasonable market layout and product structure advantage. Green, for example, 2011, green real estate business revenues grew 50%. Chairman Zhang Yuliang, within the structure of green space development is dynamic. One is adjusting the industrial structure, stronger and in energy, finance is the core of integrated industry; second, adjusting the layout structure of real estate projects, currently most focused on two or three lines of urban real estate development projects; three is the adjustment of product structure, in Wuhan, Zhengzhou City launched a number of high-rise complex, adapted to the demands of two or three lines of urban city level. Worthy of attention is, single performance of the real estate enterprises on the background of growing significantly faster than the others, because real estate single have considerable resources and strategic advantages, is superior to other enterprise product structure adjustment at the same time. Song Yanqing believes that future housingReal estate business to "half" the healthy and rapid development of competition, the structure must be reasonable. Enterprises dealing with different levels of urban market structure, product structure, the length of different products line the periodic structure of the project and other issues, achieve the pursuit of profitability project project's overall balance and cash flow, to ensure continued solid growth.
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