The performance of real estate enterprises in February fell by more than 40% month on month
the performance of real estate enterprises in late preparation for the war fell by more than 40% month on month
the sales recovery of real estate enterprises in late preparation for the war
March 6, 2020
affected by the epidemic, the sales performance of real estate enterprises in February fell by more than 40% month on month, causing a certain pressure on the capital chain of some real estate enterprises. According to interviews with many parties, some real estate enterprises have taken action to make full preparations for sales after the epidemic by stepping up the resumption of work and increasing financing efforts, while ensuring their own safe operations
expect sales to return to normal as soon as possible
according to the data released by Kerui Research Center, the top 100 real estate enterprises achieved a full-scale sales amount of 324.33 billion yuan in February, down 43.2.3 a month on month= ω 2D × (3) formula (4) is 8%, with a year-on-year decrease of 37.9%. In 2016, the output of domestic diaphragms reached 1.2 billion square meters
although some real estate enterprises have achieved good sales performance through online sales, the front-line and off-line sales are still the dominant factor in the whole market. According to senior insiders, the average conversion rate of the industry from online to offline is about 10%, and only 20% of the final customers account for. In other words, if there are 100 customers on the subscription, there are only about 2 customers finally signed
based on this, the vast majority of real estate enterprises still place their hopes on accelerating the resumption of work and actively promoting offline sales. A person from one of the top 15 real estate enterprises believes that although local governments have issued many policies to support enterprises, as far as enterprises themselves are concerned, most enterprises do not have much cash on hand, and the funds they finance are also finding opportunities to spend under normal circumstances. Therefore, for many real estate enterprises, it is very important to resume work and restart sales in an orderly manner. "Affected by the epidemic, the company's goal this year may be adjusted, but it certainly hopes to maintain stability as far as possible. From the internal feedback, the resumption of production and work in various regions is being promoted in an orderly manner. I hope that the real estate sales can also return to normal as soon as possible, and the company can actively promote sales collection."
the relevant person in charge of Greenland holdings told that once the market returns to normal, the key is to see whether the real estate enterprises have enough supply to the market. Greenland pays attention to the resumption of work @3. Check whether the thimble of the oil cup is locked and air leakage is very tight. At present, the resumption rate of the main real estate projects has exceeded 80%. For some key projects, the acquisition of pre-sale certificates is being accelerated. In terms of financing, Greenland Holdings Group Co., Ltd. plans to issue 18billion yuan of small public offering corporate bonds, which has been accepted by the Shanghai Stock Exchange recently. The company is promoting relevant work according to the normal progress
maintaining cash flow has become the main line of management
facing the decline in sales, many large-scale real estate enterprises have accelerated the pace of financing. On March 5, Taihe Group announced that it plans to publicly issue corporate bonds of no more than 12billion yuan to professional investors, with a bond term of no more than 5 years. The raised funds are intended to be used to repay the company's debts, project construction, supplement working capital, etc. On the same day, Longhu group disclosed that Chongqing Longhu Enterprise Development Co., Ltd., an indirect subsidiary of the company, had publicly issued 2020 housing special corporate bonds (phase I) to qualified investors on March 3 and 4, with an issuance scale of 3 billion yuan, a bond coupon rate of 3.8%, and a term of 7 years
on March 4, Xincheng holdings announced that the company plans to carry out direct financing at home and abroad, with a total new financing scale of no more than 30billion yuan. On the same day, the project status of the special asset support plan of Zhongshan jiazhaoye lianyirong supply chain finance, which plans to issue an amount of 2billion yuan, was updated to "received feedback"
Liu CE, Chief Strategic Officer of jiazhaoye, said that under the influence of the epidemic, the basic management line of real estate enterprises is to ensure cash flow, including determining expenditure by revenue, determining investment by financing, and exceeding expenditure by revenue. Jiazhaoye may further increase financing in the first half of the year. The investment will slow down, and the investment will be increased after the good atmosphere of "everyone has something to do" slowly recovers
"the company issued several US dollar bonds in December last year and January this year, and also made a rights issue, so there is no problem in liquidity." The person in charge of one of the top ten real estate enterprises said that the real estate enterprises with high leverage and more debt due from March to May should be the ones with tight cash flow. If there are many matured debts, we can only find a balance between quantity and price. Quantity represents cash flow and price represents profit, that is, to achieve a relative balance between cash flow and profit. For the company, sales must be grasped, but it will not make too much profit. The company hopes to facilitate the transaction, but the basic principle is that the sales price is not lower than the price of competitive products, "so we think the market competition in March will be very fierce"
according to Liu CE, the impact of the epidemic on real estate enterprises is more of a structured impact. First, from the perspective of the industry pattern, some small and medium-sized real estate enterprises will withdraw from the market. Second, in terms of time and space, the first quarter is not the peak season for real estate enterprises' sales. According to the experience of previous years, it accounts for about 15% of the annual turnover. Although the sales volume of the top 100 real estate enterprises decreased by more than 40% month on month in February, which fell sharply, this situation may be reversed in the second and third quarters