Vanke Yu Liang: Excessive market shrinkage will accumulate spontaneous repair momentum.

Author:Securities daily Time:2022.09.01

Vanke President Zhu Jiusheng said that he believed that Vanke's sales performance in the second half of the year would be better than the first half of the year. On the morning of August 31st, Vanke held a 2022 mid -term performance conference. The chairman of the board of directors of Vanke, Yu Liang, and President Zhu Jiusheng attended. At the difficult moment of the industry, Yu Liang might feel the need to speak out. Since he was in charge of Vanke, he had previously attended the mid -term performance conference in 2017, who had only been the chairman of the board of directors. Facing the challenge, Yu Liang did not seem pessimistic. At this performance conference, he talked about the market's views, talked about the recent hotspot "guarantee delivery", and also gave the industry fluctuating Vanke's response. Yu Liang said that the market will accumulate spontaneous repair momentum after contraction. Vanke puts safety first. The most important thing in the industry at present is to find the way to heat up fire heating. If you cannot heat up, survival will be affected in winter. Reading the short -term market to determine that the self -restoration ability of the market is in the first half of Vanke's operating performance, the company achieved revenue of 206.916 billion yuan, an increase of 23.82%year -on -year; Liang's "Stability and Rising" plan set at the beginning of the year. However, compared to the established performance in the first half of the year, Vanke's view of the future market obviously attracts external attention. At the 2021 shareholders' meeting held on June 28 this year, Yu Liang gave him a judgment on the real estate market: from the short term, the market has built the bottom, but recovery is a slow and mild process. In just two months, many changes have taken place in the real estate market. The suspension of loan storm affects the confidence of buyers. The short -term recovery of the sales end in June was interrupted, and the importance of the "guarantee delivery" problem was strengthened again; the policy effect still took time, and most urban real estate projects were still in place. At the low position, the real estate market still needs to be waiting for it. At this performance conference, Yu Liang reiterated his judgment at the short -term market at the end of June at the end of June. After visiting 35 cities and watching more than 100 projects within two months, he believes that the current market transaction is low and will not be maintained at this level. "Housing is still very strong, and the real estate market is still a 10 trillion yuan magnitude market." Yu Liang said that houses have a natural demand for nature. At present, the existing housing in the market is updated naturally at the natural renewal speed. E00-11 billion square meters, of which first and second-tier cities were eliminated by about 300 million square meters. According to the current decline in new construction, this year's newly -built residential buildings cannot reach the level required for natural renewal, and this has not taken into account the improvement of living standards and population agglomeration. Yu Liang believes that the market has shrunk, but it will accumulate spontaneous repair kinetic energy. It is necessary to believe that residents pursue a better life and improve their living conditions. Regarding the market in the second half of the year, Vanke President Zhu Jiusheng said at the performance conference that I believe the company's sales performance in the second half of the year will be better than the first half of the year. Adjust sales incentive policies; third, the company is currently integrating its own sales power; fourth, it will strengthen the company's sales capacity improvement and training. " Pay attention to security marginal strengthening products and service capabilities to "increase muscle" in the real estate market and frequent real estate companies. Safety issues are undoubtedly one of the focus of market attention. Yu Liang said at the meeting that the most critical problem in the current industry is that it will be warmed up. If it cannot be warmed up, survival will be affected in winter. "Vanke has always attached great importance to the stability of cash flow and finance, and always puts safety to the first place. This is the principle that Vanke has always adhered to." Yu Liang said that Vanke has been restrained in terms of scale and debt, so there is a certain level of business level. boundary of safety. Since last year, Vanke has taken measures earlier and solid. The efficiency of sales repayments has remained at a relatively high level. The debt costs and structures have been further optimized and improved. Although the market fluctuations in the first half of the year exceeded everyone's expectations, Vanke's operating cash flow still achieved net inflow, which performed better than the same period last year. The semi -annual report shows that the net cash flow generated by Vanke in the first half of the year was 8.288 billion yuan, an increase of 22.21%year -on -year. As of the end of June, Vanke's comprehensive financing cost was 4.08%, of which the new financing cost in the first half of the year was 3.59%. For delivery, Yu Liang revealed at the performance conference that Vanke has been delivered smoothly in the first half of the year. So far, 70%of the prospective owners have visited their own houses at least once on the spot before formal delivery. Vanke is not only guaranteed to guarantee Delivery should also ensure quality delivery. However, in Vanke's view, security is only the bottom line requirements. Regarding the development of development, Vanke hopes to improve the capabilities of products, services. "This year's work requirement is to stop falling and stabilize and improve stability. From the results in the first half of the year, it is still sloppy." Yu Liang commented on the results of the first half of the year. The key is whether the state can be maintained. Do you grow up? As long as there are good products and good services, even if there is pressure in the short -term market environment, it will definitely survive. From the perspective of the second quarter, Vanke achieved a net profit of 10.794 billion yuan, an increase of 10.65%year -on -year, which was close to the same period of 2020, showing a recovery trend.

In terms of business services, Vanke also has some good news. In the first half of this year, everything in the property platform realized operating income of 14.35 billion yuan (including the income provided by Vanke Group), an increase of 38.2%year -on -year. "The improvement of Vanke's performance is related to its execution, targeted strategies, and pursuit of quality profits." Chen Sheng, Dean of the China Real Estate Data Research Institute, believes in an interview with the Securities Daily that the two rounds of development and operation are Driven, Vanke's operating business has begun to play a better balance on the entire income. The performance of the property sector is remarkable. I believe that it will look forward to it in the future. Yu Liang admits that in the current external environment, Vanke also has pressure, and some operating indicators perform unsatisfactory performance. However, Vanke has always worked very hard to maintain the basic balance and health of physical functions. In encountering problems, it solves the problem. In the shortcomings to make up for the shortcomings, keep running continuously, and have confidence in the future to stop falling and stabilize and stabilize. Picture | Site Cool Hero Bao Map.com