The debt ratio of housing enterprises ranks 202 1.

Thunderstorm degree: ★★★★★★★

Reasons for listing: the national real estate leader is in jeopardy, commercial bills are overdue every day, bonds are suspended from margin financing and securities lending business, and 60% employees are laid off. Financial institutions panicked because they guaranteed to pay the house at all costs, and two trusts demanded to repay the loan in advance. The debt level is trillion, and off-balance-sheet liabilities (commercial paper, etc. ) are hundreds of billions.

Moody's credit rating: company "Ca" (penultimate level), unsecured notes "C" (penultimate level), rating outlook "negative".

Second place: Huaxia Happiness

Thunderstorm degree: ★★★★★★★

Reason for listing: Top real estate enterprises 10 in 2020, leading real estate enterprises in Hebei, with total liabilities of 400 billion yuan. In March, the capital chain broke, and the loss in the first half of the year was nearly 10 billion yuan. As of September 4, the total principal and interest of the defaulted debt was 87.899 billion yuan, and there were few funds in the account.

China Ping An, once a happy white knight and the biggest financier in China, accumulated losses of 35.9 billion yuan.

China Chengxin International has removed Huaxia Happiness from the credit rating list.

Third place: Xinhua Lian

Thunderstorm degree: ★★★★★★★

Reason for listing: Debt default, the book value of assets mortgaged, pledged, sealed up, detained and frozen totaled 45.458 billion yuan.

Fourth place: Hongkun Real Estate:

Thunderstorm degree: ★★★★★★★

Reason for listing:

The performance of Hongkun Real Estate dropped sharply, the operating cash flow was halved, the financing cost was high and the financing environment continued to deteriorate, and debt pressure and liquidity problems began to appear.

Fifth place: Hengtai Real Estate:

Thunderstorm degree: ★★★★★★★

Reason for listing: it is often included in the executor.

Sixth place: wild real estate

Thunderstorm degree: ★★★★★★★

Reason for listing: large commercial tickets are overdue, and suppliers and ticket holders go to the on-site headquarters to defend their rights.

Seventh: Blu-ray Development

Thunderstorm degree: ★★★★★★★

Reason for listing: Known as the "Southwest Land King", with a debt of 200 billion, it has stepped into 100 billion housing enterprises. Many projects have been stopped. According to the semi-annual report of Blu-ray 202 1, its book free funds are only 300 million yuan. On September 3rd, all the shares held by Blu-ray Group, the controlling shareholder of Blu-ray, were won by Gu Bin, a natural person. The total transaction price is only 200 million yuan, and the average price per share is 2 yuan.

20. Cheng Fei Construction: It is often listed as executor.

Eighth place: Baoneng Group

Thunderstorm degree: ★★★★★★★

Reason for listing: the wealth management products of the Gold Exchange are overdue, and employees ask for salary.

Ninth place: Rong Sheng Development

Thunderstorm degree: ★★★★★★★

Reason for listing: real estate industry 16, with a debt of 250 billion, and its share price halved in the past year.

Step on most of the red lines. Short-term debt accounts for a relatively large proportion, and the debt repayment pressure is huge.

The net cash flow in the first half of the year was only1200 million yuan, which was almost exhausted.

In the first half of the year, it frequently provided financing guarantees for subsidiaries, and more than 20 guarantee announcements have been issued, with a huge guarantee scale.

Recently, a number of projects have significantly reduced their prices, and the discounts on housing prices in Beijing and Qingdao are even as low as 50%.

The dollar debt is extremely depressed, the rating is lowered, and external financing is blocked. In the next one or two years, the operating and financial situation of Rong Sheng's development will face various challenges.

No. 10: Taihe real estate

Thunderstorm degree: ★★★★★★★

Reason for listing: the debt is 200 billion, and the operating income in the first half of the year is only 662 million; The net profit loss attributable to shareholders of listed companies was 852 million yuan; The net cash flow from operating activities is 899 million yuan, and the total asset-liability ratio is 965,438+0.865,438+0%.

On August 28th, Taihe Group held a press conference in the yard of China, and the boss Huang Qisen personally took the stage to promote the house in the yard of China. At the scene, the owners of uncompleted residential flats took the stage and presented banners to Huang Qisen on behalf of hundreds of thousands of owners of uncompleted residential flats nationwide. The banner reads: 100 cities, 1000 buildings unfinished,1000 owners homeless. The owner was injured by Taihe security guard.

No 1 1: Tian Fang group

Thunderstorm degree: ★★★★★★★

Reason for listing: Tian Fang Group, once the largest state-owned real estate enterprise in Tianjin, exploded on 20 18, with a debt of nearly 200 billion.

Tian Fang Development Company was once controlled by Tian Fang Group. In the semi-annual report of 20021,the operating income was 486 million yuan and the net profit was-10.06 billion yuan.

No. 12: Jianye Group

Thunderstorm degree: ★★★★★★★

Reason for listing: Wang Di, Henan, the largest real estate enterprise in Henan, with sales exceeding 100 billion in 2020 and liabilities of 654.38+05 billion.

Fuze comes from a letter of help-reporting major risks and crises of enterprises and asking for help and rescue. The content shows that more than 300 real estate projects in Jianye are in a state of suspension or semi-suspension due to floods, epidemics and other reasons, but they have to pay huge operating costs, and their sales performance has declined. The sales and payment have decreased by nearly 3 billion yuan compared with the original plan, and many construction sites have stopped working, resulting in accumulated economic losses of more than 5 billion yuan.

In fact, the problem is not only from natural disasters:

The asset-liability ratio of Jianye is 87.2%, the net debt ratio is 92.6%, and the short-term cash debt ratio is 1.93, which belongs to the yellow file enterprise.

Moody's adjusted the rating outlook of Jianye Real Estate from "stable" to "negative".

No. 13: Sansheng Hongye

Thunderstorm degree: ★★★★★★★

Reason for listing: bankruptcy and reorganization.

No. 14: Xiexin Source Creation

Thunderstorm degree: ★★★★★★★

Reason for listing: Xiexin Group, once a strong snake in Southwest real estate, introduced investors to set up Xiexinyuan Chuangchuang after being deeply involved in the debt crisis.

Xiexinyuan created a debt of 70 billion yuan, and more than 654.38+0 billion debts were overdue.

Because of frequent overdue debts, Xiexinyuan Chuangchuang was downgraded to junk status by rating agencies such as Lianhe Credit.

Recently, Xiexinyuan Chuangchuang was filed for bankruptcy and reorganization by creditors.

No 15: r&f properties

Thunderstorm degree: ★★★★★

Reason for listing: 4 billion loans are extended for 6 months, and debts due within one year are 59.576 billion, and three red lines are stepped on every day.

Moody's, a rating agency, announced that it would downgrade Guangzhou R&F to B2 and Hong Kong R&F to B3. The rating outlook is "negative".

R&F once annexed Wanda Hotel, and its hotel business continued to lose money.

No. 16: Sunshine 100

Thunderstorm degree: ★★★★★

Reason for listing: Sunshine 100, with a debt of 50 billion yuan, the income in the first half of the year was only 3.3 billion yuan, but the annual interest expense exceeded 7 billion yuan.

Repeated defaults on debts have caused many projects to stop working.

Another tens of billions of debts are due within a year.

In addition, bond prices fell sharply, the annualized income of commercial tickets reached 36%, the proportion of restricted assets was high, and 40% of employees were laid off in online transmission areas.

No. 17: Xinli real estate

Thunderstorm degree: ★★★★★

Reason for listing: Sony's debt is about 80 billion. A mysterious real estate agent started in Jiangxi, and achieved a scale of 10 billion from 0 in10.

According to the "Letter of Help from Zhang Yuanlin, the boss of Xinli Real Estate" circulating on the Internet, Zhang Yuanlin, the founder of Xinli Holdings, owed a loan shark of HK$ 654.38+06 billion in 2065.438+09, and has not escaped the debt crisis so far.

Every day, the commercial tickets of subsidiaries are overdue, and the arrears of progress payment are stopped by the general contractor.

More commonly, a large number of bills that cannot be redeemed due are exposed.

No. 18: Zhongnan Building

Thunderstorm degree: ★★★★★

Reason for listing: Touch three red lines.

No 19: xiangsheng real estate

Thunderstorm degree: ★★★★★

Reason for listing: I participated in a large number of private loans and was listed as the executor for many times. Mass layoffs.

20th place: Xincheng Group

Thunderstorm degree: ★★★★★

Reason for listing: Debt of 450 billion.

No.: 2 1: Jindi

Thunderstorm degree: ★★★★★

Reason for listing: The top 20 real estate companies have debts of 300 billion, which is twice as high as 654.38 billion in 2065.438+06. Non-current liabilities due within one year are 35.8 billion yuan, bonds payable are 42 billion yuan, and interest-bearing liabilities total 654.38+023 billion yuan. The net cash flow from operating activities in the first half of the year was-654.38+000 billion yuan.

22nd place: Greenland Group

Thunderstorm degree: ★★★★★

Reasons for listing: always stepping on the red line, with debts exceeding one trillion; Greenland has begun to lay off employees on a large scale, and the proportion of layoffs is about 40%-50%.

23rd place: Fantasia Year

Thunderstorm degree: ★★★★★

Reason for listing: Citigroup and Credit Suisse Private Bank no longer accept bonds held by Fantasia as collateral, and almost no one buys new bonds now.

24th place: Country Garden

Thunderstorm degree: ★★★★

Reason for listing: The scale is no less than Evergrande, and the debt is trillions. It focuses on the layout of third-and fourth-tier cities to create a "supermarket in the outer suburbs". From 2065438+09 to 2020, Country Garden won a large number of land development in third-and fourth-tier cities at a high premium. Due to population loss or inflow in third-and fourth-tier cities, the problem of inflated housing prices is serious and the market risk is great.

Malaysia's forest city with huge investment is mired in the mire and almost stagnant.

Due to high turnover, site accidents and engineering quality problems, the owners complained about rights protection. In 2020, the comprehensive satisfaction of housing enterprises is at the bottom-the industry average 10, and Country Garden only has 4 points.

Recently, Country Garden's "Brand Department" and "Mercenaries" have been active frequently, just like Evergrande before the thunder.

25th place: Sunac China.

Thunderstorm degree: ★★★★

Reason for listing: With a debt of trillions, it not only spent a lot of money to grab land in 22 key cities, but also took land at a premium of more than 50% in a large number of third-and fourth-tier cities, creating multiple land kings.

According to market rumors, Sunac went to Hong Kong for private placement at twice the market price, which frightened the capital market. Moreover, Sunac also borrows money from employees. The latest news is that Wanda has cancelled the contract.

Sun Hongbin's radicalism is the most famous in the real estate industry, but he suddenly changed his mouth at the half-year performance meeting: "We expect the market to be fierce in the second half of the year, and safety is the first."