Successfully introduced state -owned assets!The stock price rose exceeded 30%, Hu Yisen waited for the "White Knight"

After struggling for more than a year, the "Henan King" Jianye Real Estate finally waited for the long -lost "white knight".

After closing on June 1, Jianye Real Estate, which was listed in Hong Kong stocks, announced that the company's largest shareholder Enhui Investment Co., Ltd. and Henan Tongsheng Real Estate Co., Ltd. entered into a framework agreement on June 1, 2022. With 860 million HK $ 688 million Investment HK $ 688 million, it accounts for about 29%of the company's issuing share capital.

Who is Tongsheng Real Estate? It is a market -oriented operation platform, which is mainly based on real estate investment, which is mainly held by Henan Railway Construction Investment Group Co., Ltd.. In other words, the "Henan King" finally waited for Henan's state -owned assets.

After the news was announced, the stock price of Jianye Real Estate opened sharply on June 2nd by 13.85%, and the increase in the session was as high as 26.15%, and the final closing rose 15.69%. As of the closing of June 15, Jianye Real Estate closed at 0.67 Hong Kong dollars/share. Although the stock price of recent trading days has fallen, compared with the lowest point of HK $ 0.503/share on May 30, Jianye Real Estate's stock price has still risen 33.2%.

There is no doubt that from the perspective of the stock price performance, investors are optimistic about the prospects of Jianye Real Estate with state -owned assets and aid; How far?

Finally waiting for the "White Knight"

In fact, the incident of the introduction of Henan's state -owned assets on Jianye Real Estate has been "clue" a long time ago.

Time was pulled back to last fall. Due to the influence of Zhengzhou's flood, the base camp was treated with a huge impact on Jianye Real Estate stationed in Zhengzhou. In addition, the environment of the entire real estate industry was not very prosperous. The government issued the highly anticipated "help letter", which may have laid a foreshadowing for the introduction of Jianye Real Estate to the introduction of Henan State -owned assets today.

In May of this year, due to tight cash flow, Jianye Real Estate sold two of its cultural tourism business:

First, the equity part of the company's Henan Jianye Real Estate Culture Co., Ltd. was transferred to Henan Henan Literary Tourism. The equity of the Industry Co., Ltd. is transferred to the hometown cultural tourism, which has been changed from Jianye Group to 90%of the hometown cultural tourism, and Jianye Group holds 10%.

For the sale of these two cultural and tourism business, the targets of Jianye Real Estate are all state -owned assets in Henan. At this time, the market has rumors that Henan state -owned assets will directly assist Jianye Real Estate in the future; Market rumors have landed.

For Jianye Real Estate, the introduction of Henan state -owned assets can undoubtedly have an immediate effect.

According to the official announcement of Jianye Real Estate, if this transaction is completed, Jianye Real Estate will receive about 1.4 billion Hong Kong dollars, equivalent to RMB 1.2 billion in cash flow; The principal of not more than 708 million Hong Kong dollars can be convertible, which can greatly alleviate the tension of the funds of Jianye Real Estate.

Jianye Real Estate also clearly welcomed the shares of state -owned assets. In the announcement, Jianye Real Estate stated that "the strategic cooperation between Henan Railway Jianchu and Jianye will help stabilize the Henan real estate market and stabilize the Henan economy market, which reflects state -owned enterprises' responsibilities in stabilizing the economy and steady market." It is not difficult to see the affirmation of Henan state -owned assets.

After the disclosure of the announcement of the state -owned assets, Jianye Real Estate's stock price also ushered in a sharp rise. As of the closing of June 15, Jianye Real Estate closed at 0.67 Hong Kong dollars/share. Although the stock price of recent trading days has fallen, compared with the lowest point of HK $ 0.503/share on May 30, Jianye Real Estate's stock price has still risen 33.2%.

Regardless of the performance of the stock price or from the attitude of Jianye Real Estate, for the aid of the state -owned assets of Henan, Jianye Real Estate and the investors behind them can be said to be "welcomed with both hands." Without landing, even if the ground really landed, the final effect did not know, and there was still great uncertainty in the future of Jianye Real Estate.

"Henan King" of the past and present life

In Henan, every 10 houses are sold, and one set is from Jianye Real Estate.

It is not difficult to see from the above sentence that "Henan King" Jianye Real Estate occupies an extremely important position in the Henan real estate industry.

Regarding the history of Jianye Real Estate, it may start to start with Hu Yisen, who is known as the "Three Swordsmen in the Real Estate".

Time was pulled back to 1992. At that time, Hu Yisen, who was 47, returned from Hong Kong to Henan, and established Henan's first Sino -foreign joint venture real estate enterprise -Jianye Real Estate Development Co., Ltd.; , Hu Yisen's "adversity" chose to take root in Henan, hometown, which also laid a foreshadowing for the future Jianye Real Estate to become the "King of Henan".

The start of Jianye Real Estate was not smooth. In 1993, Jianye Real Estate's first real estate project "Golden Water Garden" landed. However 16 issued, the "Golden Water Garden" hitting the muzzle could not even sell it even in the pre -sale period.

Just when everyone thought that Jianye Real Estate failed to go, Hu Yisen, who was accustomed to the big scene, used a "wonderful plan": the owner who promised to buy the first phase of the Golden Water Garden within half a year can get it. Back to all the houses, the property rights still belong to the owner. This "wonderful plan" not only allowed Jianye Real Estate to return the funds quickly, but also made it famous. With the great success of "Golden Water Garden", Jianye Real Estate also successfully started. Later, although the scale of Jianye Real Estate continued to expand, Jianye Real Estate did not conduct national expansion like Evergrande and Sunshine City. Instead, he chose to continue to cultivate Henan. "Strategy", accelerated sinking towards multiple prefecture -level cities in Henan.

In just 6 years, Jianye Real Estate completed all prefecture -level cities from the provincial capital to all prefecture -level cities. Later, Jianye Real Estate sank to almost all county -level cities in Henan. This is also the title of "Henan King" in Jianye Real Estate. origin.

However, although there is no expansion like other housing companies, the main reason for the outbreak of the problem that the problem of the problem is that the regional layout of Jianye Real Estate was too concentrated. After the outbreak of severe flood disasters, Jianye Real Estate was greatly impacted.

Time was pulled back to September last year, a "help letter for help" from Jianye Group was widely circulated. Jianye more than 5 billion yuan, this letter is like a fuse, which directly "ignites" Jianye Group, which has caused double killing of stock debt.

After that, Jianye Group ushered in the "dark moment", and the stock price also declined all the way to the lowest 0.473 Hong Kong dollars/share, and the market value was only 1.4 billion Hong Kong dollars. However, it has been chosen to have a deep cultivation of Jianye Real Estate, which has been deeply cultivated.

Can Jianye Real Estate "get rid of difficulties"?

For Jianye Real Estate, although it was difficult to wait for the state -owned assets, it was still full of uncertainty in the future.

The first is heavy debt. According to data from the 2021 annual report, as of the fourth quarter of 2021, Jianye Real Estate's total liabilities reached 133.063 billion; among them, the flow liabilities were 115.84 billion, with a short -term loan of 3.601 billion, and 57.9 billion accounts payable. A total of more than 60 billion yuan has been exceeded.

In addition, according to public reports, there are currently 8 US dollar bonds in Jianye Real Estate, with a total scale of 2.446 billion U.S. dollars. In the next one to two years, at least two US dollar bonds expire: 300 million US dollars in bonds due in 2023.

According to data, as of the fourth quarter of last year, the cash and cash equivalents on their accounts were 5.902 billion yuan. The tension of the capital chain was evident. Even if it was aid in Henan's state -owned assets, it still needs to be able to solve the debt problem of Jianye Real Estate. A big question mark.

Secondly, it is the continuous worsening operating situation. Under the drag of liabilities, the operating conditions of Jianye Real Estate continued to deteriorate. According to the financial report data, in 2021, Jianye Real Estate achieved revenue of 41.959 billion yuan, a decrease of 3.1%; the annual gross profit margin was 16.2%, a decline from 2020 from 2020 3.7 percentage points, the various indicators fell into a comprehensive decline.

In this year, due to the influence of economic decline and epidemic, the decline in sales of Jianye Real Estate is even more serious. As of April 30, 2022, Jianye Real Estate had achieved a total sales of property contracts of 8.897 billion yuan, a decrease of 36.3%year -on -year; the total sales area of ​​the total contract was 116,6549 square meters, a year -on -year decrease of 35.7%.

Finally, the issue of "ownership" of Jianye Real Estate. With the aid of Henan state -owned assets, Henan state -owned enterprises will owns 45.61%of the enlarged equity of Jianye Real Estate's issuance of shares, which means that the largest shareholder of Jianye Real Estate will be changed from Hu Yisen, chairman of the company's board of directors to Henan Railway Construction Investment Group.

From this point of view, for Jianye Real Estate, although it was easy to wait for the aid of Henan state -owned assets, it was probably a distance from its real out of debt dilemma.

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