Ke Rui real estate industry 2022

During the Spring Festival holiday 18 days, netizens envy this as "someone else's company".

Author

During the Spring Festival holiday 18 days, netizens envy this as "someone else's company".

Author | Lu Yongzhi

Editor Gao Yan

Source | Ma Ye Finance

Before the Spring Festival, Binjiang Group (002244. "A Brother of Hangzhou Housing Enterprises" SZ), update the screen again. Not only did it distribute benefits to all residents of Sanbao Community, the hometown of its boss Qi Jinxing, but it also announced the Spring Festival holiday in 2023 18 days, and netizens envied it as "someone else's company".

In the real estate circle, Binjiang Group is known as "a good employer in China". Not long ago, Binjiang Group announced the notice of the holiday arrangement for the Spring Festival in 2023. The holiday time for the Spring Festival is 65438+1October 19 to February 5, *** 18 days.

Last year, the Spring Festival holiday of Binjiang Group attracted widespread attention. At that time, in order to celebrate the 30th anniversary of the company, in addition to 16 days holiday, employees were provided with 7 days of "special paid holiday for company development contribution" and coupons of 30,000-50,000 yuan.

Source: Binjiang Group Announcement

In addition to employee benefits, Qi Jinxing also distributed * * * Fu Lifu to people in Sambo's hometown. Each household can get a supermarket card of 6000 yuan. Old people over 70 years old have different benefits according to their age, up to 20,000 yuan.

It is worth noting that the main body of this welfare distribution is not the listed company Binjiang Group, but Hangzhou Binjiang Investment Holding Co., Ltd., whose shareholders are founders such as Qi Jinxing and Zhu Huiming. That is to say, Qi Jinxing used his own money to express condolences to his hometown elders.

Such employee welfare and social charity are not unrelated to the achievements made by Binjiang Group in 2022. This year, the sales of Binjiang Group was fixed at 65.438+0539 billion yuan, ranking the highest in the national history-654.38+03.

In terms of land investment, Binjiang Group acquired 4 1 plot, with a total investment of 73.3 billion yuan, including 37.4 billion yuan of equity, 0.5 billion yuan of new goods/kloc, and the total land reserve exceeded 300 billion yuan.

In addition, Binjiang Group delivered 32 projects, including Hangzhou 17 and other cities 15. In 2022, the groundbreaking ceremony was held for 49 projects under the Binjiang Group.

So at the media year-end symposium of Binjiang Group in 2022, Qi Jinxing, as always, smiled with golden sentences. One of the most popular words is "it's not that we are fierce, it's that they retreat too fast."

Full-colored "dark horse"

In 2022, the real estate market was extremely turbulent, but Binjiang Group completed the counterattack, achieving sales of 65.438+0539 billion yuan, ranking 654.38+03 in the national list of real estate enterprises.

Looking ahead, from 2008 to 20 18, the sales of Binjiang Group increased from 2.8 billion yuan to 85 billion yuan, with a compound annual growth rate of 40.7%. 20 19 to 202 1, with sales of112/billion yuan,136.7 billion yuan, 169 1 billion yuan respectively.

While the sales performance is strong, Qi Jinxing is firmly in control of the financial security of Binjiang Group.

Source: wind

In the first half of 2022, the scale of interest-bearing liabilities of Binjiang Group was 55.807 billion yuan, of which bank loans accounted for 78.3% and direct financing accounted for 2 1.7%, and the debt structure was clear.

During the period, the asset-liability ratio of Binjiang after deducting advance payment was 65.47%, and the net debt ratio was 85.79%. In terms of debt maturity, the short-term debt is 65.438+07.896 billion yuan, accounting for only 32.07%, and the short-term cash debt ratio is 65.438+0.11times. The "three red lines" continue to maintain the "green file".

In terms of financing, in 2022, Binjiang Group raised 47 billion yuan, an increase of 2.2 billion yuan.

It is worth mentioning that in the middle of 2022, the financing interest rate of Binjiang Group was 4.7%, which was already a low point compared with previous years. By the end of 2022, the financing interest rate of Binjiang Group reached a new low of 4.6%.

In the long run, Binjiang Group has maintained a financing cost lower than the industry average. The data shows that from 20 17 to 202 1 year, the average financing cost of Binjiang Group was 6%, 5.8%, 5.6%, 5.2% and 4.9% respectively.

The financial prudence of Binjiang Group has a lot to do with its boss Qi Jinxing. In Qi Jinxing's view, if you can borrow 65.438+0 billion yuan, you can only borrow 700 million yuan at most, so leave some room for yourself.

It is this steady style that makes banks and other financial institutions full of trust in Binjiang Group and even take the initiative to lend.

On August 22, 2022, Binjiang Group successfully issued the first medium-term notes of that year, with a scale of 940 million yuan and an interest rate of only 4.8%. This is the second time that bonds have been successfully issued after 1 successfully issued short-term financing of 970 million yuan in July last year.

Since February 65438+2022, real estate financing policies have been frequently blown, and Binjiang Group has once again ushered in good results. 165438+ 10-65438+February, Shanghai Bank, Industrial Bank, China CITIC Bank, Hangzhou Bank, etc. The total comprehensive credit granted to Binjiang Group exceeded 330 billion yuan.

Although the results are outstanding, Qi Jinxing said that the future market situation is very serious and not optimistic. It is possible that in recent years, this year is the most stressful; But looking ahead, this year may be the best year.

"Hangzhou brother" can't walk out of the "comfort zone"?

Qi Jinxing was born in Hangzhou and loves this land, so Binjiang Group has been deeply involved in the Hangzhou market for a long time and has always regarded Hangzhou and Zhejiang Province as the key areas for the company's development.

However, some people once thought that Binjiang Group was "painting the land as a prison" and Qi Jinxing also tried to get out of the "comfort zone". However, after a series of attempts, he seems to have found his own rhythm.

In 2022, the real estate industry continued to decline. During this period, many housing enterprises broke out liquidity problems, and housing enterprises without debt problems were treading on thin ice and no longer bought a lot of land, but Binjiang Group had different views.

Source: Binjiang Group

At the media year-end symposium of Binjiang Group, Qi Jinxing told everyone the story of Alaskan brown bear wintering: "After sensing winter, spend a limited time squatting in front of the waterfall waiting for the fish season, and when you are full, your fat will become thicker, even if winter comes, you can live longer."

In Qi Jinxing's view, Binjiang Group is a brown bear waiting for the fishing moratorium, and land acquisition in 2022 is a reserve to cope with future market changes.

In 2022, Binjiang Group * * * acquired 4 1 plot, 38 of which were located in Hangzhou, with a total investment of 73.3 billion yuan. For the first time, the land acquisition amount ranked seventh in the list of land acquisition amount of national real estate enterprises, up 15 from last year.

In the local auction market in Hangzhou, Binjiang Group has been dubbed as "murderous maniac". In the first two rounds of soil auctions in Hangzhou, Binjiang has won more than 20 plots of land. In May 2022, Binjiang Group completed the acquisition of 6 plots of land in Yongkang Sunshine City, Zhejiang Province for 5.6 billion yuan.

Binjiang Group, which regards Hangzhou as the "Zhu Shazhi", released a good news prepared in advance after the land auction in April last year, deeply expressing Hangzhou: We love this city.

Zhu Lidong, CEO of Binjiang Holdings and Chairman of Binjiang Property, believes that land is the most basic means of production for real estate enterprises, and the company must take land for normal development and operation. The reason why Binjiang dares to take land is because it is full of confidence in the next stage of macro-economy and policies, and also full of confidence in the Hangzhou market.

In terms of regional layout, Binjiang Group continues to maintain the regional development strategy of Zhejiang, Jiangsu, Guangdong and Shanghai. In terms of investment ratio, Hangzhou accounts for 50%, Zhejiang accounts for 40%, and Zhejiang accounts for 10%.

According to the regional statistics of Ke Rui, Zhejiang Province, in the first half of 2022, Binjiang Group launched more than 3,800 sets of commercial housing in Hangzhou, with an overall winning rate of 19.54%. In addition, the first opening rate of Binjiang Group's projects reached 93% in the first half of the year, much higher than the average rate of 865,438+0% in the eight districts of Hangzhou.

In the Hangzhou trading list, in 2022, the sales of Binjiang Group reached 710.805 billion yuan, and the equity sales reached 565,254.38+0 billion yuan, ranking first in the Hangzhou trading list and equity list.

The insiders believe that the reason why Binjiang dares to hold a heavy position in Hangzhou benefits from the Hangzhou market on the one hand. Compared with most cities, Hangzhou property market has maintained a strong purchasing power; On the other hand, it benefits from its influence and low financial leverage in Hangzhou market.

The Change and Invariance of Qi Jinxing

1992, Hangzhou Binjiang Housing Construction and Development Company was established with the contribution of Jianggan District Government of Hangzhou, with Qi Jinxing as the chairman and a loan of 80,000 yuan as the company's start-up capital. Four years later, Binjiang Group was formally established.

In fact, among the real estate tycoons in Hangzhou, Qi Jinxing is not well known. Compared with his eldest brother, Song Weiping, the helm of a state-owned enterprise has not achieved much, and his personality is more stable and low-key.

In the ten years after its establishment, Binjiang Group has not made much progress in scale. Until 2002, with the Gold Coast Project, Binjiang Group gradually gained popularity in Hangzhou.

In June 2006, the state-owned shares withdrew, and Qi Jinxing became the actual controller of Binjiang Group. After that, Qi Jinxing did not rush to expand the scale, but chose to open up the capital market first.

After two years of preparation, Binjiang Group landed in the A-share market in 2008 and became the first batch of A-share listed real estate enterprises in China. After listing, Qi Jinxing still has no intention of leaving Zhejiang. In his view, Binjiang only needs to be a regional real estate developer.

In 20 10, with its market share in Hangzhou, Binjiang Group broke through the 10 billion mark for the first time. In the following five years, the sales scale of Binjiang Group has been maintained at around 10 billion.

The turning point appeared at 20 14. This year, the Hangzhou property market fell into a whirlpool of price reduction due to regulation. In order to cope with the depressed market, Qi Jinxing and Binjiang Group fought a sales war.

Finally, Qi Jinxing said in the 20 19 annual media forum that by February 8 19, the annual real estate sales of Binjiang Group exceeded10 billion yuan for the first time.

After the real estate entered the downward track, Qi Jinxing proved by actions that "betting on Hangzhou" enabled Binjiang Group to achieve a counterattack and become a "dark horse" in the real estate industry in 2022.

In addition to the improvement of the company's performance, Qi Jinxing's personal asset ranking is also rising rapidly. In the Hurun Rich List in 2022, the wealth of Qi Jinxing and Qi Qijia reached 654.38+09 billion yuan, up 654.38+065.438+065.438+0% year-on-year, ranking 506th to 296th.

In Qi Jinxing's view, 2022 is undoubtedly a year of low-level shocks for real estate, and Binjiang Group does not deny this. But the more difficult it is, the more you can see the hard power of the enterprise.

However, Qi Jinxing believes that while doing a good job in the enterprise, it is also the best thing to make a social return consistent with the development of the enterprise.