Yu Liang anxiety, but Vanke is not pessimistic, he after all in the “play” to see who?
Be frugal, but not pessimistic.This is yu Liang’s judgment on the future of real estate industry.At the annual meeting of Vanke on January 9, Yu Liang, chairman of vanke, concluded that the era of eating the world with one trick is over, and now we should pay equal attention to development, operation and service. This is vanke’s new triathlon.Yu liang’s anxiety is not diminished by Vanke’s “safety”.On February 12, an internal statement by Yu Liang, chairman of Vanke, caused a stir in the market.He said that the real estate industry has entered the “black iron era”, shrinking the table is the inevitable trend of development.He also stressed that the year of 2022 is the beginning of a new era for Vanke.In fact, Vanke is not the only one who is anxious. The past 2021 is an unforgettable year for most real estate enterprises.”Debt reduction” and “cash flow” are the two most frequently used words in the real estate industry.Under the background of “housing not speculation”, the previous real estate development and operation mode of “high debt, high leverage, high turnover and high yield” has gone forever.How to “winter” has become a new proposition of housing enterprises.Sun Hongbin once said: “housing enterprises must be comprehensive, or there is a problem with the layout, or the ground to buy expensive, or the strategy has a problem, or the product has a problem, or the money away.”After entering 2020, Sun Hongbin changes former days radical, begin comprehensive contraction.The market has never heard sun Hongbin huge acquisition of other real estate enterprise project news.In order to increase the company’s cash flow, Sun Hongbin disposal of assets unusually firm.In addition to selling off some projects, Mr. Sun sold some of his stake in Shell, placed some shares and even lent the company $450 million for nothing.Behind a series of operations is the truest portrayal of the real estate industry.Take the initiative to change, “reduce cost and increase efficiency”, and increase cash flow, which is the normal state of the future housing enterprises.If the “housing not speculation” was just put forward, some real estate enterprises still have a lucky psychology, then when the implementation of the policy in the fifth year, enterprises should also see the determination of the national level.Therefore, from the era of “savage growth” to the era of “high-quality development”, is the general direction of the future housing enterprises.Yu Liang once said: “Real estate enterprises have passed the era of land hoarding to appreciate, and also passed the era of leveraging to earn financial leverage. The only way out in the future is to learn from the manufacturing industry and earn money from processing, manufacturing and service through labor.”Long-term adherence, long-term adherence to do the right thing, do not violate the discipline, this is Yu Liang’s life creed, but also his business management secrets.In 2018, when some housing enterprises are still running blindfolded in the third and fourth tier property market, Yu Liang took the lead in Shouting the slogan of “winter” and began to take the initiative to defend.In order to make the enterprise more “safe”, Yu Liang took the initiative to give up the ranking on the scale and let Vanke “slow down”. This is the most correct decision yu Liang has made in recent years.He once told the media that it was fortunate that Vanke was not the largest company in recent years, so vanke had the opportunity to transform itself.In November 2020, Vanke released a notice that it planned to spin off its subsidiary, Vanke Cloud, and list it on the Hong Kong Stock Exchange.Compared with Sunac, Country Garden and Evergrande, Vanke is always “half beat” behind. It is also because of this half beat that Vanke is more calm than other enterprises in the capital market.At a time when the real estate industry is getting tougher, corporate black swans occur almost every year.February 11, Hong Kong stock real estate companies Zhenro Real Estate, Zhenro service shares plummeted, intraday fell more than 80%, the biggest drop since the listing.Among them, Zhenro Property lost HK $10.5 billion in market value in a day.The company’s poor cash liquidity is a key factor behind the plunge.As of June 30, 2020, the company had 34.98 billion yuan in cash and cash equivalents, while restricted cash was 8.795 billion yuan, which means the company actually had 26.2 billion yuan in cash at its disposal, according to its latest financial results.But as of June 30, 2021, the company has 20.34 billion yuan of debt to repay in one year, showing the pressure.It is worth noting that housing enterprise debt concentration due, is not a zhengrong system.According to the data of 98 sample housing enterprises monitored by Kr.The debt due in 2021 and 2022 for the 98 real estate companies is about 13.8 trillion yuan and 12.6 trillion yuan, respectively.Among them, in January this year, the maturing debts of housing enterprises reached 179.3 billion yuan.In addition, insurance capital fled also became the agitation in estate circle.According to incomplete statistics, in 2021, a number of well-known insurance companies including Junkang Life Insurance, Harmony Health, China Life Insurance and Sunshine Life Insurance began to sell their real estate shares, and the objects to be sold are Vanke, China Merchants Shekou and other well-known real estate companies.For risk capital flight, an industry insider said, can not see the future.In the face of changes in the industry, yu Liang, a “cautious” even said last year that the real estate industry still has opportunities, Vanke is not pessimistic.In his opinion, the development of the national market is not balanced, the cities are still developing, the market size of the stock update is still 8 trillion yuan, and there are several business listed in The cloud will bring new impetus to Vanke, so Vanke is not pessimistic.Overall, commercial housing sales and investment scale is still positive growth.Kreerui expects that in 2021, the scale of commercial housing sales will hit a new high, with the area and value exceeding 1.8 billion square meters and 18 trillion yuan respectively.Therefore, while still able to turn around, decisive disposal of the project, reduce the scale, reduce debt, increase cash flow is the first priority of real estate companies in the future.