Four housing enterprises in Chongqing declared bankruptcy! Industry reshuffle intensified

Small and medium-sized housing enterprises that follow the traditional "high leverage" operation mode are gradually entering the "cold winter" and facing the test of life and death.

According to incomplete statistics, from 20 18 to 10, there have been 10 housing enterprises declared bankrupt due to the break of capital chain. Among the 10 companies, there are four in Chongqing, namely, Chongqing Hongxing Kewan Real Estate Co., Ltd., Chongqing Dongke Industrial Co., Ltd., Chongqing Guowei Dingyi Investment Co., Ltd. and Chongqing Xidishan Group.

Image source: Blue Whale Real Estate

Case "Chongqing Top 50 Housing Enterprises went bankrupt with a value of 7.5 billion or were auctioned.

Image source: official website, Chongqing Runshan Real Estate Co., Ltd.

Official website of Chongqing Runshan Real Estate Co., Ltd. shows that Chongqing Runshan Real Estate Co., Ltd. was established by Xidishan International Industry Co., Ltd., Chongqing Yujiang Die Casting Co., Ltd. and Chongqing Yinxiang Industrial Group Co., Ltd. According to the data, the legal representatives of Runshan Real Estate and Xidishan Group are both Zhang Yuxi.

According to authoritative sources, around April 25th, a district court in Chongqing will ask whether Chongqing Runshan Real Estate Co., Ltd., an important enterprise of Xidishan Group in Zhang Yuxi, has entered the bankruptcy procedure to solicit the opinions of creditors. If the creditors can reach an agreement, enterprises in Zhang Yuxi will enter bankruptcy proceedings.

Xidishan Group was once rated as one of the top 500 real estate enterprises in China and the top 50 in Chongqing, and was known as the "dark horse of real estate" in Chongqing market. Oriental International Plaza, the main building, was once positioned as the top urban complex in western China, covering super-class office buildings, six-star luxury hotels and luxury shopping centers. On September 22nd, 20 13, Chongqing Runshan Real Estate Co., Ltd. officially signed a contract with Mandarin Oriental Hotel, the world's top luxury hotel. 20 16, the market value of the project is estimated to be more than 7.5 billion yuan.

Oriental International Plaza renderings

However, it is not easy to complete the development of this project. Soon Xidishan Group felt that the capital chain was tight and the project operation was difficult.

Chongqing International Trust has publicly stated in court that as of August 6, 20 17, the total amount owed by Chongqing Runshan Real Estate Co., Ltd. is about 365,438+796 million yuan.

According to incomplete statistics, the foreign debt of Xidishan Group related to the Oriental International Plaza may be as high as 6 billion yuan, when the loan from 6 banks in Chongqing/KLOC-0 is about 3.25 billion yuan.

The Oriental International Plaza with a value of 7.5 billion yuan may also face the fate of being auctioned, and the Oriental International Plaza may become the last "straw" to crush Xidishan Group.

Phenomenon "development strategy adjustment Many housing enterprises fade out.

Image source: Blue Whale Real Estate

According to incomplete statistics, from June 20 18 to June 20 10, seven housing enterprises have "disappeared" from the ranking of real estate industry due to transformation or restructuring, among which six housing enterprises, including AVIC Shanda, Jiakai City, Yi Yin, Baoneng Real Estate, HNA Real Estate and Zhejiang Guangsha, have transformed into other fields and faded out of the real estate market.

According to media reports, Chongqing Yuneng Industrial (Group) Co., Ltd. has gradually "disappeared" from the list of real estate enterprises in Chongqing due to the change of equity.

It is reported that from 2065438 to April 26th, 2008, Chongqing Yuneng Industrial (Group) Co., Ltd. was publicly listed on the Beijing Equity Exchange to transfer 0/00% equity of the company, with a starting price of 265438+52 million yuan. During this period, Sunshine City, Jinke, Country Garden, Chongqing Huayu and Shenzhen Zhuo Yue Real Estate launched fierce competition. Until July 27th, Chongqing Yuneng made industrial and commercial changes, changing its sole shareholder from the central enterprise China Datang Group Co., Ltd. (Datang Group) to Shanghai Sangxiang Enterprise Management Co., Ltd., and on September 19, Sunshine City announced the acquisition of Shanghai Sangxiang for 4.97 billion yuan, and Chongqing Yuneng officially became Sunshine City.

"Delayed" Shoucheng Real Estate was disqualified from development.

Some housing enterprises "disappear", some housing enterprises "fade out", and some housing enterprises are disqualified from development.

Official website in Liangjiang New Area shows that Chongqing Shoucheng Real Estate Development Co., Ltd. was revoked its temporary qualification for real estate development because it did not meet the requirements of the Regulations on the Administration of Real Estate Development Enterprises and the Regulations on the Administration of Urban Real Estate Development in Chongqing.

Image source: official website, Liangjiang New District

According to relevant information, Chongqing Shoucheng Real Estate Development Co., Ltd. has developed the Shoucheng Dingshang Mingdu Project, which is located on Airport Avenue in Yubei District, and its houses have been sold out.

Observation "The concentration of the industry has increased, and the market for small and medium-sized housing enterprises has been squeezed.

Ouyang Jie, senior vice president of Xincheng Holding Group Co., Ltd. once said, "90% of small and medium-sized housing enterprises will withdraw from real estate projects. By 2020, the top 20 real estate enterprises may occupy more than 60% of the market share. "

Image source: Han Yizhiku

This argument is gradually confirmed in the data. According to the data of Han Yizhiku, as of 20 18, 1 1, there are 26 real estate enterprises that have sold to 100 billion yuan, and the threshold value of TOP 182 1 billion is a record high.

With the growing base of 100 billion housing enterprises in the future, 100 billion is no longer the goal but only the starting point. As the real estate industry begins to change from high-speed growth to high-quality growth, the determination of housing enterprises to impact the scale remains undiminished, and the industry competition is fierce. This phenomenon also proves from the side that there is room for further improvement in industry concentration and threshold value.

According to Han Yizhiku's forecast, from the perspective of corporate sales targets, it is estimated that in the next two to three years, 30% of housing enterprises will occupy 70% of the market share, while the remaining 70% of housing enterprises will compete for the remaining 30% of the market share, and the market share will be further reduced.

With the peak of the industry scale and the continuous tightening of funds, a new round of reshuffle is coming.

Multi-market test analysis, survival of the fittest or intensification

From the second half of 20 16 to 20 18 and 10, in just two years, the real estate market in China changed from enthusiastic to "cold". Enterprises and investors who entered the real estate industry during the Fengkou period almost got good feedback from the market, which made more and more enterprises set foot in the real estate industry.

However, with the change of market environment and the deepening of regulatory policies, the market's test for developers is becoming more and more obvious. Affected by the market downturn, financial environment and policy environment, some developers even left the real estate industry because of the broken capital chain.

With the change of the real estate market structure, the "high debt" and "quick turnover" mode of some housing enterprises has been unsustainable.

The era of rapid development of the real estate industry and high housing prices is gone forever. Major housing companies have taken advantage of the trend and have thrown out transformation plans. In fact, "de-real estate", pursuing diversified development strategies and expanding business scope are the development directions of major housing enterprises in recent years.

In this regard, Xu Bo, a senior real estate person, said that large developers can be more recognized by buyers in terms of scale, brand, service and safety; Small developers have insufficient strength and limited scale. Even though some achievements are outstanding, the comprehensive strength is still relatively weak, and some housing enterprises have accelerated the process of bankruptcy because of the intervention of capital. Many small developers fail because of strategic decision-making, self-management and capital debt.

On the whole, it is unlikely that a large number of small and medium-sized housing enterprises will close down in the short term. However, with the intensification of the scale concentration of the real estate market, some small and medium-sized housing enterprises may accelerate their withdrawal from the market due to problems such as high debt ratio, difficult financing, centralized debt maturity and poor sales.