129788443006562500_13075 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", and the need to tailor prices spell, spell quality, structure the "second half", the report data to objectively reflect the real estate industry is experiencingDepth adjustment in transition as of April 11, China vanke, constant, Poly, Fuli, China Sea five ppl in March and the first quarter results and enterprise. According to the five ppl and Enterprise contract total amount of 82.057 billion dollars in the first quarter, compared with the first quarter of last year, a drop of 10.7%. In March, contributed a quarter of the overall performance of the property market 43.4%. Even if theAfter a 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", and the need to tailor prices spell, spell quality, structure the "second half", quarterly and annual reports of listed company data to objectively reflect the real estate industry is experiencing the depth adjustmentThe transformation. 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 partial negative macro-economic and policy factors combined effects of enterprises to survive and develop, now seems to be only "price change" a way out. Trading volume remained in the doldrums this yearPrice surges can occur "most restrictive regulation" 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
tera power leveling, has 75 published annual reports, there are also more than 60 companies publish news or notices. Restriction, limited credit, real estate regulatory policy affected last yearTrading volume in the main city market 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 completed the annual sales target of the company is less than 30%. Only China resources land, into growth rates of less than 10 companies, such as accelerating the trend. SOHO China,Greentown, millions of shares (000616), the Riverside Group (002244) Enterprise there is even negative growth. From the perspective of business income, average growth rate of about 20% has published annual report of the housing and enterprise, in which housing and enterprise growth mostly over 30%. China vanke to achieve operating income $ 71.78 billion, an increase of 41.6%; poly real estate (600,048) 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 advance sale and delivery of corporate accounting policies included in the settlement income after 2011 annual report is more a reflection of 2010 sales�� Although sales were still growing, but most companies have seen varying degrees of decline in profit. For example
tera power leveling, the Rhine real estate (000558) net profit fell 60% per cent; Sun shares (000608) net profit decreased by 50% per cent over the previous year. The industry believes, between enterprise performance differentiationBecame more pronounced, say goodbye to real estate industry will be gradually "sudden huge Profil age". Trading volume remained in the doldrums, resulting in greatly increased the total stock listed houses and enterprises. According to statistics, the 75 rooms has published annual reports and enterprise, total $ 904.8 billion stock market value, rose had reached 44.3%, inventory 418.3 billion yuan more than the 2009 reached more than twice, andIndustry-wide inventory or has more than $ 5 trillion in market value. "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, thanks to some significant price stimulus after markets. In some cities, 10% price of the project a 90% Sign, not price by item sales volume remains cold.����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 stock at the same time, listing of enterprise capital chain tight, liabilities at a high level, business dayChildren 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, deposit and pre collection. The past few years, Bank lending to the real estate industry as a whole-19% of source of funds, 2011 only 15%;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 context of real estate adjustment and unwavering policy, bank loans for 2012, in particularHousing development loan may not add a lot. Since the first quarter of this year, more than large-enterprise published a notice announcing funding, investment real estate, including country park (000024), 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 2012 demand for funds remained a 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, more rose from a year earlier, 41.8%, and 53.5%. Debt pressure, making roomEnterprise capital chain could further tighten. 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 predicts that real estate funding gap of up to $ 1.3 trillion, compared with 2008, an increase of 50%. In addition, is also worthy of attention, 2010 years 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 "taken over". Statistics show 2011Year 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 has a market capitalisation of $ 6.78 billion, compared with 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, some enterprises in different degrees to cut new start coverage indexes. "From the inventory and financial situation,Real estate business is 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 swap back to the cash flow and low price. In fact, in the face ofThe same policies, market environment, housing and enterprises took on a different development situation.����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. Take Greenland as an example, in 2011, the Green Group real estate business revenueAn increase of 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, was launched in the cities of Wuhan and Zhengzhou more Super senior comprehensiveFit, meet the needs of urban city in a two or three line grade.����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 real estate business to the "second half" competitionHealthy and fast development, the structure must be reasonable. Enterprises dealing with different levels of urban market structure, product structure
tera gold, 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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