Small and medium-sized housing enterprises are facing the survival test of batch losses

Small and medium-sized housing enterprises are facing the survival test of batch losses

Small and medium-sized housing enterprises are facing the survival test in batch losses. In the first half of 200212002, the real estate market continued its popularity at the end of last year. However, this market enthusiasm has not been transmitted to the performance of small and medium-sized housing enterprises. Compared with large-scale housing enterprises, small and medium-sized housing enterprises still face severe survival pressure.

Small and medium-sized housing enterprises are facing the survival test in the mass loss 1. With more than half of 202 1, a number of real estate enterprises released the first half performance forecast. According to the data of Oriental Fortune choice, as of July 28th, 46 A-share real estate enterprises * * * issued performance forecasts, among which 26 enterprises announced that the net profit attributable to shareholders of listed companies in the first half of the year was in a profitable state, and another 20 enterprises issued pre-loss reports on net profit attributable to shareholders of listed companies, accounting for 43.48% of the total number of enterprises that have issued profit forecasts.

Judging from the data, the phenomenon of performance loss of housing enterprises in the first half of this year has increased compared with previous years. Analysts at Zhuge Housing Search Data Research Center believe that this situation is mostly affected by the "three red lines" and the strengthening of financing supervision. Housing enterprises expect that the profit margin will be compressed to a certain extent.

For the reasons for the losses of these real estate enterprises, the above analysts believe that there are two main aspects: "First, under the tight control of the national real estate policy, the sales price and pushing efforts of real estate enterprises have been affected to some extent, resulting in a decline in profit margins; Secondly, as housing enterprises began to brew business transformation, some housing enterprises failed to transform, and the real estate business did not bring great profits, which also led to a decline in performance. In addition, some housing enterprises were affected by the epidemic, and sales rebates were also affected. There is some resistance. "

Multi-city regulation continues to increase.

Small and medium-sized housing enterprises face survival challenges

In the first half of 200212002, the real estate market continued its popularity at the end of last year. From last year's "three red lines" and centralized management of mortgage loans to the centralized land supply policy in the first half of this year, housing enterprises, banks and land have worked together to take various measures to further implement the "three stable" goals.

In this case, the market activity of new and second-hand houses was high in the first half of the year. With the frequent overweight of multi-city regulation policies, the market enthusiasm has declined, and the scale of real estate transactions has been restrained to some extent, but it is still at a high level.

However, this market enthusiasm has not been transmitted to the performance of small and medium-sized housing enterprises. Compared with large-scale housing enterprises, small and medium-sized housing enterprises still face severe survival pressure.

In statistics, most of the housing enterprises that suffered losses in the first half of the year were small and medium-sized housing enterprises, such as Shahe, Nanguo Real Estate and Guangming Real Estate. A top 30 housing enterprises believe that small and medium-sized housing enterprises have weak financial strength, low capital turnover efficiency, and insufficient brand influence and operational ability; On the other hand, the regulatory restrictions of the "three red lines" policy on overlapping financing make the differentiation between enterprises obvious, and the financing of small and medium-sized housing enterprises is difficult. These factors are important aspects that lead to unsustainable operation of small and medium-sized enterprises.

In fact, with the tightening of financing and the implementation of land concentration policy, many small and medium-sized housing enterprises have lost the ability to take land and follow-up development.

Take San Zhong Fang as an example. Due to previous weak performance, the company has been labeled as "ST" warning label. The company has also revealed to the outside world that the accumulated net profit of the company in the first half of the year may be a loss due to the decrease of saleable houses mainly engaged in real estate business.

According to public information, in the first half of this year, *ST Zhong Fang had no new real estate reserves, no newly started and completed projects, and no commercial housing sales. By the end of the second quarter, the total leaseable property area of the company was 3,024.82 square meters, and the actual leased area was 65,438+0,665,438+0.28 square meters. 202 1 rental income in the first half of the year168,200 yuan, of which 84 100 yuan was realized in the second quarter of 202/kloc-0.

Among these companies that forecast losses, Taihe Group has the highest expected loss. According to the profit forecast issued by Taihe Group, its net profit attributable to shareholders of listed companies in the first half of the year is expected to lose 850 million yuan to165438+500 million yuan; Five small and medium-sized enterprises suffered losses for the first time in recent years, namely Shahe, Chongqing Development, Haomai Home, Tianbao Infrastructure and Guochuang High-tech.

Failure of conversion will affect performance.

The strategic focus in the later period needs to be more clear.

In addition to their own development strength has not adapted to the highly competitive industry environment, many small and medium-sized housing enterprises have also encountered no small challenges in the process of seeking transformation.

It is not difficult to find that many housing enterprises with pre-loss performance in the first half of the year are caused by transformation failure.

Take Midea Real Estate, which suffered its first net profit loss in the first half of this year, as an example. In the first half of this year, the net profit loss attributable to shareholders of listed companies ranged from 290 million yuan to 4,654,380,000 yuan. For the company's performance loss, beautiful real estate related people replied to the reporter of China Real Estate News that the main reason was that the assembled construction business did not reach the corresponding scale, and the operating loss during the reporting period was 200 million yuan; In addition, due to the impact of the real estate development cycle, the settlement area and settlement income of real estate projects in the first six months of 2002 125 million yuan have not yet reached the settlement conditions.

For beautiful home buyers, although there was a loss in the first half of this year, in fact, the pain period of transitional prefabricated buildings is not short. According to public information, in 20 17, beautiful real estate officially entered the track of prefabricated buildings, and since then, the company's performance has shown a downward trend. The net profit attributable to shareholders of listed companies decreased year by year from 20 17 to 20 19.

"Because the company's prefabricated construction business is in the incubation period and investment stage, the management expenses increase and the income ratio is relatively small. The real estate business is still the main source of the company's business income. The income of real estate business is directly related to the progress and progress of the project, and the scale of completed projects determines the scale of income. " The above-mentioned beautiful home buyers said that at present, the advance payment at the end of the pre-sale project of the company's real estate business segment is 65.438+0.25 billion yuan, but it has not yet reached the settlement conditions, and the income will be gradually recognized in the next 654.38+0-3 years; The total amount of EPC, PC and design orders for prefabricated construction business is about 7.4 billion yuan, of which the contract amount being fulfilled is 76,543.8+0 billion yuan, which will be gradually fulfilled and settled in the next 65,438+0-3 years, ensuring the realization of the company's main business income and profits in the next few years to some extent.

In addition, the person also mentioned that the profit time of prefabricated construction business still depends on many factors such as market changes, business expansion and operation. What the company can do is to continue to focus on the main business of building intelligence, consolidate the company's fundamentals and strive to achieve good results. Get more recognition from investors.

Compared with beautiful home ownership, other small housing enterprises are on the line of life and death because of poor performance in the transformation business.

For example, *ST Yi Yin's performance forecast shows that the company's net profit attributable to shareholders of listed companies in the first half of the year was 300 million yuan to 370 million yuan, a year-on-year decrease of 1424.6%- 1733.67%. As for the reasons for the sharp decline in performance, *ST Yi Yin said that due to the serious overseas epidemic in Europe, America, India and other factors, the overseas business operation of the company's auto parts was greatly restricted, resulting in a loss in the operating performance of the auto parts sector. At the same time, the company's real estate business was affected by project delivery income, financial expenses, depreciation of self-sustaining properties and other accrual factors, and its operating performance also suffered losses.

Facing the same situation, there is also *ST green scenery. Due to the decrease in income, the period expenses increased (including the expenses of the company's major asset restructuring institutions, etc.). ), *ST Lv Jing expects the net profit loss attributable to shareholders of listed companies to be 6 million yuan to 6,543,800 yuan in the first half of this year.

It is worth noting that *ST Lv Jing lost money continuously in 20 19 and 2020, and realized net profit of-0.9 million yuan and-/kloc-0.80 million yuan respectively, and the corresponding revenue in the same period was/kloc-0.60 million yuan and/kloc-0.50 million yuan respectively. According to the new delisting rules issued by Shanghai and Shenzhen Stock Exchanges, if *ST Lv Jing's net profit is still negative this year and its operating income is less than 654.38 billion yuan, the company is likely to face the fate of delisting.

The above-mentioned analysts of Zhuge Housing Research Center believe that housing enterprises have a long transition period and are unlikely to bring considerable benefits in the short term. Therefore, for these small and medium-sized housing enterprises, on the one hand, they must ensure that their main business and business in the advantageous areas of enterprises have a better source of income in the future, thus increasing their income; Secondly, it is necessary to improve the company's operating ability, reduce operating costs as much as possible and broaden profit space without affecting the company's operation; Thirdly, it is suggested that these small and medium-sized enterprises that have transformed into other tracks should consider whether to continue to focus on the transformation business or lay out new business areas according to the market situation and development prospects of the company's transformation business.

Small and medium-sized housing enterprises face survival test in batches. Housing enterprises can be said to be struggling in the first half of this year. Under the continuous control policy, the real estate market sentiment tends to be stable, and the growth rate of house prices and sales in many cities has tightened.

According to the announcement of the performance forecast of real estate enterprises, among the 4 1 a-share listed real estate enterprises that have disclosed the performance forecast for the first half of the year, 18 real estate enterprises show "losses".

In July, the data of national economic operation and real estate industry in the first half of 20021were released. From June to June, 65438, the sales of commercial housing was 9293 1 100 million yuan, an increase of 38.9%, an increase of 3 1.4% compared with June of 20 19, and an average increase of 14.7% in two years.

Recently, the 20021semi-annual performance forecast or performance express published by a number of A-share real estate listed companies showed that the performance of many housing enterprises generally achieved positive growth in the first half of the year.

For example, the Greenland Performance Express shows that the total operating income in the first half of the year increased by 34.74% year-on-year; Aoyuan Meigu has turned losses into profits. It is estimated that the net profit attributable to shareholders of listed companies in the first half of the year will be 48 million yuan to 58 million yuan, which is due to the positive contribution of Zhejiang Liantianmei Enterprise Management Co., Ltd. acquired by the company in the second quarter.

However, there are still many housing enterprises that have not made any money. Judging from the listed real estate enterprises that have published the performance forecast of 20021Interim Report, although there are some large real estate enterprises such as Xinhualian, Taihe Group and Jia Kai, most of them are small and medium-sized real estate enterprises. According to the contents of the announcement, the main reasons for the losses of housing enterprises include: the project does not meet the carry-over conditions, the new business model is blocked, and the financing cost is rising.

Among them, Taihe Group has the highest expected loss. 15 In July, Taihe Group announced that the net profit loss attributable to shareholders of listed companies during the period of 202 1 1-6 was estimated to be 850 million yuan-1.50 billion yuan. Followed closely, Xinhua Lian lost 700 million yuan-750 million yuan.

In addition to losses, some housing companies are also facing the risk of delisting. For example, in the first half of this year, Lv Jing Holdings expects the net profit loss attributable to shareholders of listed companies to be100000 to 6 million yuan.

Insiders pointed out that despite the good market situation this year, due to frequent regulatory policies, the price limit of new houses and centralized land supply policies have squeezed the profit margins of housing enterprises, and the financing environment of housing enterprises has tightened under the new "three red lines", making the survival pressure of small and medium-sized housing enterprises increasing day by day.