Total liabilities exceed 200 billion!The debt of 100 billion housing companies Longguang Group, 5 USD debt defaults

Boo! Following Rongxin China, another hundreds of billions of housing companies actively "officially announced" debt mines!

On the night of August 7, the "100 billion housing enterprise" Longguang Group issued an announcement saying that it would suspend the interest of the 5 overseas US dollar priority notes to expire to actively "officially announce" debt mines; and for the reason for the suspension of interest, In the announcement, Longguang Group explained that "suspension of interest payment is part of the overall management of the company's overseas debt, and hopes to effectively resolve financial pressure on the whole."

In fact, this is not the first debt crisis in Longguang Group. As early as March of this year, Longguang Group was exposed by the media that there was a risk of liquidity. In the face of media reports, Ji Haipeng also promised that "never lie down, do not escape debts, and carry out multiple self -rescue operations. "

However, it may be that the debt is too huge, or it may be that the real estate industry is too depressed, and it is difficult to recover in the short term. In the end, Longguang Group still failed to escape the ending of the debt explosion and became a member of many thunderstorms.

As a 100 billion housing company and the former Kings harvesting machine, the total liabilities of Longguang Group are as high as 218.1 billion, and the debt is not huge. Obviously, the Longguang Group has reached the edge of the danger, and it has fallen at any time. " The possibility of abyss.

History of 100 billion Longguang Group

The Chaoshan area is a place to specialize in "housing companies".

Zhu Mengyi of He Shengchuang, Zhou Zerong of Qiaoxin Group, the three brothers of Guo Zhaoye, and Huang Guangmiao of Zhongzhou Group are from the Chaoshan region, and Ji Haipeng of Longguang Group is actually many Chaoshan " One of the members of the housing company ".

Regarding the history of Longguang Group, it was first born from Long Guang Jianan, which was established in 1996.

As a small real estate company in the Chaoshan area, Long Guang Jian'an did not have much eye -catching results at the beginning. Although some real estate was developed during the period, it did not achieve much success.

Until 2000, Longguang Jianan developed the 776 -acre urban village renovation project "Golden Jubilee Garden". This large -scale community in Shantou at that time made Longguang Jian'an fame, and it began to start rapidly. Development and the next year became the leading real estate enterprise in Shantou, with sales accounted for nearly half of the Shantou property market at that time.

Although it has achieved good results in Shantou, from now on, the success of Longguang Jian'an in Shantou at that time can only be regarded as starting.

In 2003, Longguang Jian'an began to take the Chaoshan area to expand in different places. The first was at the price of 286 million yuan, and the bidding was won by the King of Baoan Center in Shenzhen, and Long Guang Jian'an became famous. In 2004, Longguang Jianan began to enter Nanning, Guangxi, and participated in the city of "China Greentown". Construction; in the same year, it won the Tianhu Capital Land for 681 million yuan, and entered Foshan high -profile.

From 2006 to 2007, Long Guang Jian'an continued to attack all sides. First, he won the 586 -acre plot at the price of 530 million yuan at a price of 530 million yuan, setting the highest record of the total auction price of the Nanning land at that time. Land in Guangzhou, Huizhou, Zhuhai and other areas, the layout spans the two major regions of Guangdong and Guangxi.

In December 2008, Guangdong Longguang Group Real Estate Co., Ltd. was restructured to Guangdong Longguang Real Estate Co., Ltd., and Longguang Jian'an also renamed Longguang Real Estate; 5 years later, Longguang Real Estate successfully landed in the Hong Kong Stock Exchange and had the capital market. For help, Longguang Real Estate began to get land crazy at high prices; in 2020, Longguang Real Estate became a member of 100 billion housing companies with a sales of 120.69 billion.

However, it didn't take long for it to achieve trillions of sales, the crisis followed, and the leading real estate company began to move step by step towards the abyss.

Take the initiative to "official announcement" debt mines, 100 billion housing companies fell down the altar

On the night of August 7, Longguang Group issued an announcement that it took the initiative to "officially announce" debt mines.

Longguang Group stated that in order to promote the overall debt management plan and treat all creditors fairly, the company will suspend the interest in the following 5 overseas US dollar priority notes to expire; for the reason for the suspension of interest payment, Longguang Group said "suspend paid payment Interest is part of the overall management of the company's overseas debt. I hope to effectively resolve financial pressure on the whole. "

In fact, this is not the first debt crisis in Longguang Group.

As early as 5 months ago, the market had reported news about the risk of liquidity risks in Longguang Group. In the face of media reports, Ji Haipeng stated that "never lie flat, does not escape debts, and will carry out more more than to carry out more. Self -rescue operation. "

However, it may be that the debt is too huge, or it may be that the entire real estate industry cannot be warm up. In the end, Longguang Group has not been able to escape the ending of the thunderstorm, becoming one of many thunderstorms. The main reason for the debt crisis caused by Longguang Group is that in addition to the prosperity of the industry, the previous radical expansion and high -priced large -priced are also one of the important reasons.

As a well -known "Kings Harvest Machine" in the industry, Longguang Group generally picks up land at a high price price of the market. The floor price is as high as 25,100/square meter, exceeding the price of new houses around, and the land premium rate is as high as 85.3%. In addition, in the next two years, the Longhua Hongshan plot and the Guangming Phoenix Town, which were won by Longguang Group, respectively. The total price of Longhua and the king of the country's total price was created.

Of course, when house prices are rising, Longguang Group does not see any problems with high -priced land acquisition, and high -priced land acquisition often means that it can sell houses at a higher price. One of the important reasons for climbing.

根据财报数据显示，龙光集团的营收在2016年前不过只有百亿上下，2015年的营收为145.74亿；但到了2021年，其营收就达到了782.93亿，短短6年时间， The revenue was over 5 times.

However, with the increase in revenue, there is also the liabilities of Longguang Group. According to data, in 2015, the total liabilities of Longguang Group were 39.311 billion; by 2021, its liabilities climbed to 218.133 billion, and the scale of debt was nearly 6 times. Obviously, Longguang Group's model Behind the huge risks hidden.

With the beginning of 2021, the real estate industry began to enter the cold winter, and the model of Longguang Group's high -ranking high -ranking model finally couldn't work, especially with the rise of house prices from the previous way to the current "stability". Longguang Group, who had won many "Di Kings" at a high price, has been affected by a lot, and this 100 billion housing companies have fallen into the altar.

Where will the future of Longguang Group go?

For Longguang Group, huge liabilities and capital chain pressures are the most tricky issues at the moment.

According to the financial report data, the current total liabilities of Longguang Group are as high as 218.133 billion, the asset -liability ratio is 76.2844%, and the total liabilities are 155.126 billion, of which the short -term borrowing is 20.411 billion. Nearly 70 billion.

According to the financial report data, the current cash and cash equivalents of Longguang Group are 37.111 billion yuan. Compared with the short -term borrowing and the total amount of account payables and bills, there are obviously there is still a lot of capital gaps.

In addition to the data on the financial report, in terms of overseas debt, Longguang Group currently coexist 13 US dollars in bonds, with the current balance of about 3.659 billion US dollars and about RMB 24.747 billion. Longguang Group mainly issues debt financing through the wholly -owned subsidiary Shenzhen Longguang Holdings Co., Ltd., and currently has a total of 20 durable bonds, with a balance of about 19.899 billion yuan. It is simply calculated. 45 billion.

In addition, the huge debt pressure has gradually begun to affect the normal operation of Longguang Group. According to the latest sales data, Longguang Group's sales of 33.56 billion yuan from January to July this year, ranking 33rd in July, sales decreased by 67.3%year-on-year; Stop storm.

However, compared to other mine -housing companies, the advantage of Longguang Group is that there are many high -quality projects that can be sold. After all, it has previously received land in the first and second -tier cities, and the assets are better. Moreover, Longguang Group is still still One of the few green housing companies in mobilization companies, which also has certain advantages in its future re -financing.

From the current point of view, Longguang Group, which has "official announcement" debt thunderstorm, has reached the edge of danger, but it is not unlicensed to play; however, whether to choose "cut meat" to sell high -quality assets to repay the debt, or continue to wait for the property market to recover the recovery of recovery It is an extremely difficult decision for the current Longguang Group.

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