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However, a recent paper published by Youngor on the issue of holding shares has crushed the rumors that it had rumors of its exit from the real estate business. However, even if they did not withdraw, Youngor still faced many challenges in expanding its real estate business.
165 million yuan in shares
On January 14, Youngor announced that its subsidiary, Youngor Real Estate Co., Ltd. has signed a cooperation agreement with Ningbo Veken Real Estate Co., Ltd. to jointly develop an IV-3-3 plot in Xuejia District, Gulin Town, Yinzhou District, Ningbo.
According to statistics, the IV-3-3 plot is located at Xuejia Village, Gulin Town, Yinzhou District, Ningbo City, and is located to Xuejia Nan Road to the east, Weifang Waterside Maple to the south, Buluan Bridge River to the west, and planning road to the north. The building area is 93,600 square meters, and the planned construction area is 215,200 square meters. The floor area ratio is 2.3, and the land use is ordinary commercial housing. The project is expected to be pre-sold in the second half of 2014.
According to the agreement, Youngor will invest 165 million yuan, which will occupy 30% of the registered project company. The remaining 70% of the equity of the registered project company will be owned by Ningbo Veken Real Estate Co., Ltd., which is funded by 385 million yuan.
At the same time, the announcement revealed that the IV-3-3 plot was won by Ningbo Veken Real Estate Co., Ltd. on December 14, 2012, for a price of 1.029 billion yuan.
With regard to the purpose of participating in the development of the Ningbo residential project, Youngor said that it is mainly to meet the requirements of Youngor's strategic development, and at the same time, it is beneficial to its access to widen land resources.
For the way in which Youngor chose to take shares, the industry analysis pointed out that in the context of fierce market competition and regulation of the property market, the purpose of acquiring land is to obtain future development income, or to lay a foundation for future listing financing, or for rationality. The allocation of company assets, through the combination of acquisitions, participations in stocks, and holdings by housing companies, will help them avoid investment development risks and optimize the allocation of market resources.
It is understood that although Youngor's involvement in real estate business is not as long as clothing business, according to relevant data, its real estate business has a large proportion in its entire business segment.
Public data shows that Younger's real estate tourism revenue accounted for 47.15% of the company's main revenue in the end of 2010, and the proportion of this revenue dropped to around 30% in the end of 2011, mainly due to the rapid drop of 50% in real estate development revenue. In the middle of 2012, the proportion of Youngor's real estate tourism revenue rose again to 47.1%, of which the proportion of real estate development income reached 43.79%.
The king of the land will face challenges
It is precisely because of its constant increase in the real estate industry. Younger, who started as a garment, has gradually become a half-real estate company. Even worse, due to the frequent appearance of Younger's clothing quality in recent years, he was accused of being the main business. Real estate, vice-industry is the clothing.
However, Youngor also faced many challenges while expanding its real estate business.
Judging from the data, it is found that in recent years, Youngor has taken a lot of action in the area of ​​land acquisition, and most land grabs are land kings. Even the floor prices of some land parcels have already exceeded the average sales price in the region.
Among the land acquisitions, the most valuable one was Yang Feng’s Shanghai Changfeng No. 8 project, which was won by September 1, 2010 with a total price of 1.958 billion. The unit price for this project was 26,000 yuan/square meter, a The unit price of the king in the Changfeng area.
In addition, the landlord project of Youngorna also included the land of Hangzhou Business School, which was auctioned at a high price of 1.476 billion yuan in July 2007; in December 2010, it won the Hangzhou Shenhua No. 53 and Shenhua 56 at a total price of 2.42 billion yuan. No.
Due to the huge financial pressure on Youngor, the high-priced enclosure is currently in urgent need of the Shanghai Diwang project to launch market sales as soon as possible to roll back the funds.
According to market sources, Changfeng 8 will be officially launched on January 26, but the final opening date will also depend on the customer's recognition. If the amount of funds is not enough, the opening date will be postponed to March.
It is reported that Changfeng No. 8 will be pushed 200 sets in the first phase, but local sources said that the current situation does not seem very good.
In terms of average selling price, according to internal personnel of Changfeng 8, the project was previously planned to be priced at 4.2-4.3 million yuan per square meter, but developers have already thought of adjusting the average price to 45,000 yuan per square meter.
At the same time, Changfeng No. 8 project was also accused of violating the operation without first obtaining the advance sales permit. According to the news, as of January 17, on the official website of Shanghai Real Estate Information, there were no pending orders for Changfeng No. 8 in the two columns of the project's “New Record Announcement†and “Pre-selling/On-sale Publicityâ€. In the sale of information shows, in other words, the project has not yet received pre-sale permit.
In addition, even if Changfeng 8 was opened on schedule, Youngor still faced a balance between pricing and recognition on the project. Because the average price of the project at that time was higher than the neighboring projects, especially the price of the floor plan of the Royal Palace project of the Royal Sea Tower at the price of 4,000 yuan per square meter. Currently, the China Sea Purple Imperial Palace opened in May 2012. The price is about 38,000 yuan / square meter.
In addition to the above-mentioned project prospects, it is still difficult to predict. Some data show that in recent years, some of King's projects in Ningbo, Hangzhou, and Suzhou have been sold unfavorably, and there are still 20 billion yuan to be digested.
At the same time, Youngor still has 17.46 billion yuan in short-term interest-bearing liabilities that need to be repaid.
Youngor's 166 million IPO shares in real estate business still face challenges
Recently, a paper published by Youngor’s announcement on holding shares has crushed the rumors that it had rumors of its exit from the real estate business. However, even if they did not withdraw, Youngor still faced many challenges in expanding its real estate business.
Younger, who started with clothing, once had high liquidity liabilities due to high-price enclosures, and was once passed down from the real estate industry.