129788443078593750_315Industry-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 undergoing a transition depth adjustment as of April 11, China vanke, constant, Poly, Fuli, China Ocean five ppl enterprises released in March and first quarter results. 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,By 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", and the need to tailor prices spell, spell quality, structure the "nextHalftime ", 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, enterprise to survive andLater development, now seems to be only "price change" 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 published annual reports, there are also 6More than 0 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 completed the annual sales target of the company is not to 30%。 Only China resources land, into growth rates of less than 10 companies
tera power leveling, 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%. Vanke revenues 71.78 billion yuan, an41.6%; poly real estate 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 reports more anti-Map 2010 annual sales income. 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; the Sun [news type price reviews] shares 2011 net profit decreased by 50% per cent over the previous year. People in the industryThink companies became even more pronounced performance differentiation between, say goodbye to real estate industry will be gradually "profiteering." 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 stock market capitalisation reached 904.8 billion million, rose had reached 44.3%, $ 418.3 billion in stock than in 2009Was 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 reduction projects represents 90% 's signing, 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 chainCompact, high debt, and make 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, deposit and pre collection. The past few years, Bank lending to the real estate industry as a whole-19% of source of funds, and15% 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 context of real estate adjustment and unwavering policy, 2012Years of 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 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 stress, 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
tera power leveling, real estate funding gap of up to $ 1.3 trillion, compared with 2008, an increase of 50%. Also worth attentionIs that in 2010, before and after the peak of the real estate investment trusts have begun entering the payment of a large circulation. 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 that 2011 size changes in ownership of the property market more than 124 cases, transaction 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 to2011 9 size of $ 3.1 billion in the same period rose 120%. Enterprise policy more rational, structured market pressures, in 2012
tera gold, 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 stocks and fundsConditions, 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 swap back to the cash flow and low price. In fact, Face 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, in 2011, the Green Group real estateRevenue 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 SuperHigh-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 real estate business to the "second half"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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