129788443052343750_247Industry-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"
tera gold, the need to spellSpell, spell quality, price structure, "second half", the report data to objectively reflect the real estate industry is going through transition depth adjustment 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 companies signed up a quarter of the total amount of 82.057 billion dollars, and last year the firstQuarter, 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, there are 75 releasedAnnual reports, as well as more than 60 companies have released letters 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 annual sales of accountsEnterprise is the subject of less than 30%. Only China resources land, sunac growth rates of less than 10 enterprises accelerate the trend.
SOHO China, green city, millions of shares (3.90,0.03,0.78%), the Riverside Group (8.77,-0.07,-0.79%) Enterprise there is even negative growth. From the perspective of business income, the published annual reportRoom rate average growth of about 20%, housing and enterprise growth mostly over 30%.
Vanke achieved revenues of $ 71.78 billion, an increase of 41.6%; poly real estate (Twitter) (12.05,0.08,0.67%), operating income of 47.028 billion yuan, an increase of 31.02%. RAND Advisory Song Yanqing, President says, Housing and enterprises operating income growth, one is to benefit from the rise in house prices; second, as the real estate industry with pre-methods and delivery is included in the settlement after income of corporate accounting policy, 2011 is a reflection of the annual report more revenues in 2010. Although sales are still growing, but most of the decline in corporate profits have suffered different degrees of. For example, BarclaysAnn home buyers (5.46,0.22,4.20%) 2011 net profit fell 60% per cent; the Sun shares (5.23,0.08,1.55%) 2011 net income fell by 50% per cent over the previous year. The industry believes, performance differentiation becomes even more pronounced among enterprises, real estate industry will gradually be saying goodbye to the "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%, inventory 418.3 billion yuan more than the 2009 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, thanks to some significant price stimulus after markets. In some cities, 10% price project occupied the cent of contracting, project sales is not cut out of it. ButCurrent turnover on 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, makes the enterprise more difficult. RAND Advisory on 49 listedEnterprises annual reports of studies have shown that 25, last year's money funds shrink. 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 loans account for the entire real estate industry sources: 19%, 2011 in 15% housing enterprise self-finance has never been more than 40%,Self-financing ratio of the year in January-October, developers have reached the 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 2012 Bank loans, in particular the development of commodity property loans will not increase too much.Since the first quarter of this year, more than large-enterprise published a notice announcing funding, investment real estate, including country park (Twitter) (22.38
tera gold,0.38,1.73%)
tera power leveling, agile, and so on. Chain home real estate (micro-blogging) Feng Lianlian said the market research department, a number of large-scale intensive housing and enterprise financing in the first quarter, reflecting the room prices in 2012 still has a larger demand for capital requirementsDie. 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 repaymentsPressure, so that the housing Enterprise capital chain could further tighten. Guotai Junan securities (micro-blogging) 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, valueHeight is concerned, 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 "taken over"。 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 capitalisation reached 67. $ 800 million, 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, some enterprises in different degrees to cut new start coverage indexes."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, in exchange for cash flowLow price. In fact, faced with the same policy and market environment, 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 is notReal estate enterprises are to "second half" competition to achieve a healthy and rapid development, 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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