Another central enterprise withdrew from real estate! 78 central enterprises will gradually withdraw from the real estate business.

Recently, another central enterprise withdrew from real estate.

On the first day of the Dragon Boat Festival holiday, Xiamen Guomao announced that it would transfer its two real estate companies (Guomao Real Estate and Guomao Development) to the controlling shareholder for 654.38+003 billion yuan.

And said that after the completion of this transaction, it will no longer hold the equity of Guo Mao Development and Guo Mao Real Estate.

This also means that after the completion of this transaction, Xiamen International Trade basically withdrew from the real estate industry.

1

Farewell to the road of real estate for 34 years

Xiamen Guo Mao set foot in real estate business, in fact, earlier than many head housing enterprises now.

65438-0987 Xiamen International Trade entered the real estate field, taking real estate management, supply chain management and financial services as the three core businesses of Xiamen International Trade.

Its subsidiary, Guo Mao Real Estate, also entered the Top 100 Real Estate Enterprises 10.

Since 2007, Guo Mao real estate has successively entered Shanghai, Hangzhou, Nanjing, Hefei, Wuhu, Changzhou, Zhangzhou and other cities.

During the "Thirteenth Five-Year Plan" period, Xiamen International Trade also proposed: "Do deep supply chain, do excellent real estate, do fine finance and do special investment."

Then, why did this veteran central enterprise withdraw from real estate at this time?

From a macro point of view, it is really influenced by the big environment. After all, the real estate industry has passed the golden age of development, with thin profits and difficulty in making money.

In addition, the shortage of funds may be one of the reasons why Xiamen International Trade withdrew from real estate.

Xiamen International Trade Annual Report shows that in 20 19, the real estate business, as one of the three main businesses, contributed only 3.5% to Xiamen International Trade's total revenue, and only 3.9 1% in 2020.

This income contribution can be said to be very low.

But earning less does not mean spending less. The real estate industry is only an industry with a high capital share. Land acquisition and housing construction require a lot of capital investment.

Now that the industry is going down, coupled with the impact of restrictions on purchases and loans, there will be more uncertainties in development.

This kind of influence finally acts on housing enterprises, which leads to intensified competition in the industry, and the Matthew effect is remarkable.

In addition, according to Wind data, the net cash flow of Xiamen International Trade was negative for seven consecutive quarters from the first quarter of 20 17 to the third quarter of 20 18, and negative for six consecutive quarters from the third quarter of 20 19 to the end of 2020.

When the speed of making money can't keep up with the speed of spending money, it is naturally impossible to guarantee the subsequent development.

Although the real estate industry in Guo Mao has a history of more than 30 years, it lacks competitiveness in terms of scale and development.

However, the previous land acquisition and development projects are capital investment. The scale is not enough, and it is in a weak position in land acquisition and sales, which affects the subsequent development.

From these months, we will find that the field of soil auction has become the main battlefield of head housing enterprises. Even if small housing enterprises take land, it is either the result of cooperation with local housing enterprises, or it is really a swollen face.

In this case, the old central enterprises like Guo Mao Real Estate have been marginalized, and there is almost no chance to fight back.

When a business can neither contribute revenue scale nor cash flow, it may become a chicken rib for the development of the whole company.

It is better to make a decisive decision and choose to quit.

2

Under "bill of account"

Of course, another reason is to respond to the call of the "check-out order" policy.

Last year, when SASAC reiterated the "check-out order", Xiamen Guo Mao expressed the idea of quitting real estate.

Said: "In view of the fact that the supply chain, finance and real estate industries that the company is engaged in are capital-intensive, and the rapid development needs the support of large incremental resources, the company plans to gradually withdraw from the real estate industry."

On 20 10, the state issued a "check-out order". Only 16 central enterprises with real estate as their main business are left.

78 non-real estate central enterprises are required to withdraw from the real estate industry and make an orderly withdrawal plan within 15 working days.

But before 10, the development of real estate was relatively prosperous. In the year when the "check-out order" was issued, only 14 non-real estate central enterprises withdrew.

20 1 1 Five more central enterprises were approved to keep their real estate business.

Although withdrawing from real estate is regarded as a long-term strategy. But when the industry is good, it is really not so easy to quit.

Therefore, the "check-out order" was promulgated for several years, with little effect.

Moreover, after the "check-out order", the sense of crisis of central enterprises has increased.

Originally, the real estate business did not develop well, and at most it earned less. Now the development is not good, and it may face the risk of being reorganized and merged. In order to consolidate their main business status, these central enterprises are working harder to acquire land.

For example, among the top 15 housing enterprises in 2065,438+06, the "national team" composed of central enterprises and state-owned enterprises occupied 8 seats.

Therefore, expanding land reserve, expanding scale and raising valuation have become the main ways for central enterprises wishing to own real estate business to get rid of the risk of going global.

In 2020, it happens to be the 10 anniversary of the "check-out order". SASAC reiterated the "check-out order" and asked central enterprises to grasp the investment direction of the main business.

"Prohibited businesses such as commercial real estate specified in the negative list of central enterprises' investment projects shall not be carried out by way of equity participation, so as to avoid the regulatory requirements of the main business. "

However, this time, the situation has changed, and many central enterprises have begun to transfer their own real estate projects.

Especially in the month of June 5438+065438+ 10, 2020, there were 24 property rights transfer projects in the real estate industry, and there were 19 equity transfer projects in central enterprises.

In fact, this is also related to the development of the real estate market. When these central enterprises find that the income from operating real estate is not as good as the income from operating the main business, they will invest a lot of money. Under the "check-out order", the loss-making real estate projects were thrown away.

It can only be said that the era of big fish and big meat in the real estate industry has passed. For housing enterprises, it is indeed time to improve quality and efficiency and intensive cultivation.

three

Impact on real estate owners

Small and medium-sized housing enterprises were gradually eliminated, central enterprises withdrew from real estate, and Matthew effect intensified. What does it mean for real estate developers?

First of all, the entry threshold is higher and the requirements for professional ability are higher.

In the past, loose land and capital policies, coupled with the current situation of short supply, led to a relatively low threshold for real estate.

In the real estate industry, there have been many stories of grassroots counterattacks. You can make money as long as you are brave and careful.

But it's different now. Money is tight and land resources are tight. Therefore, every penny should be invested and every penny should create the greatest economic benefits.

Coupled with macro-control, housing enterprises began to change their development strategies, so the demand for talents is also changing. There are really not many opportunities for grass-roots teams, and wild roads are not as applicable as before.

The refinement of product quality, ultimate service and management is becoming more and more important.

Under the requirements of standards, norms, precision and specialty, the requirements for the professionalism and systematic learning ability of talents will be higher and higher.

What is more obvious is that the requirements for education and age are getting higher and higher when recruiting housing enterprises.

In fact, academic qualifications reflect a person's learning ability and professionalism from the side, at least in theory.

So in today's real estate industry, old ideas are being subverted every day. What the industry needs must be lifelong learning and continuous improvement of its own talents.