Among the 74 real estate companies, the pre -reported losses at least 19.6 billion yuan were replaced by price, asset impairment, etc.

Author:Securities daily Time:2022.08.03

What extent does the reporter Wang Lixin's real estate industry pain in the real estate industry? It can be seen from the 2022 mid -term performance preview announced by listed real estate companies. As of August 2, according to Wind data, according to the classification of Shenyin Wanuo Industry, 74 listed real estate companies in A shares announced the 2022 mid -term performance preview. 100 million yuan; if the lower limit of the net profit of the preview, the total loss will be 28 billion yuan. "The main reason for the decline in profits and losses, first, the reduction of settlement projects (the expenditure of the same period has not decreased the same proportion), and the other is due to the impact of asset impairment. The enterprise needs to pay the corresponding inventory price preparation, which will affect the current profit." Song Yanqing, President of Rand Consulting, told the Securities Daily that the current repayment of debt default housing companies is exchanged by asset discounts and house prices. It is expected that performance in the next one or two years may continue to lose money. Multiple factors such as asset impairment have caused losses in the above 74 real estate companies, 34 profit, accounting for 46%, and the remaining 40 losses. According to the type of performance preview, only five are pre -increased, and the rest are pre -minus, renewal, and first loss. Among them, the profitable households are China Merchants Shekou and Financial Street. The upper limit of the propaganda net profit is 2.1 billion yuan and 1.2 billion yuan, respectively. More than 100 million yuan. The reporter of the Securities Daily checked the announcement of a number of real estate companies and found that the reason for the loss of the above -mentioned real estate companies was mainly classified as the following points: First, affected by debt risk, the gross profit for the sales of the project to complete the performance of the housing sales and the settlement of the settlement was low; Second, in order to maintain the company's continuous operation and ensure the delivery of the project, various operating expenses continue to occur; third, the exchange loss caused by the US dollar debt; the fourth is the decline in the settlement scale of the project, which is mainly affected by the sluggish market and the company's liquidity pressure; Fifth, in order to speed up the payment, some real estate enterprises achieved the project to extend the price by price exchanges, and exacerbated the degree of gross profit margin under the industry trend of the decline in profit margins. Sixth is the loss of asset impairment. 2.9 billion yuan. "Some '100 billion housing companies' are also in a state of losing money. This is caused by the mutual influence of various factors, and the main manifestations are imbalanced income and expenditure." Xiao Yunxiang, a senior analyst at the Tongce Research Institute, told reporters that one is due to the decline in the market due to the market. The factors are affected, causing the sales to be blocked. At the same time, the high -priced land in the early stage also puts pressure on the profit margin; the second is that the asset sales plan of some enterprises fails to implement it smoothly; The funds are still expending. "The sales of debt default housing companies are expected to exacerbate potential impairment pressure on assets, and their asset disposal will also affect the current profit and loss. In addition, some small and medium -sized real estate companies are facing problems such as regional market decline, reduced holding business income, and lagging transformation business income growth. "Liu Shui, the person in charge of the enterprise and business department of the China Finger Research Institute, said that continuous losing money for the current business difficulties and the pressure of long -term development potential will be stressed. This will crack down on investor confidence and affect corporate financing activities. Risks of delisting. More importantly, from the perspective of the mid -term performance forecast in 2022, housing companies with billions of yuan in losses are mostly insurance housing companies. Most of them have debt defaults, and it is difficult to turn the road to turn losses. So, will the losses of listed real estate companies continue to expand? How to get a way to turn a loss? “目前这些企业要改变亏损现状需要经历较为复杂的过程，比如债务处理、销售回款、是否能得到融资等关乎企业生存的关键要素都相互影响和互相制约。”肖云祥表示，一般情况下，公司The method of selling assets such as selling assets quickly reverse the status of losses, but this does not fundamentally solve the problem. Enterprises to improve their sales ability, reduce expenditure, and restore their own hematopoietic ability is the foundation of solving problems, but this also requires more powerful policy assistance or related subjects to activate. "Still need to set off around the" open source and throttle ", real estate companies with revenue pressure can actively solve the company's own problems through the form of cooperation with high -quality real estate companies." Guan Rongxue, an analyst of Zhuge Housing Data Research Center The reporter said that at the same time, it enhanced its own hematopoietic ability and strengthened sales. Liu Shui also bluntly stated that the insurance enterprises should carry out debt reorganization as soon as possible, get out of the liquidity crisis, improve the fundamentals, and restore daily business activities. It is worth noting that for the losses of up to billions of yuan to listed real estate companies, what will happen in the future? In Xiao Yunxiang's view, the loss of risks in insurance companies will continue, but the loss will narrow. For normal operating enterprises, the profit space will be repaired to a certain extent, mainly due to the factors such as gradually release, market sales recovery, and reduction of land supply and land acquisition costs. Guan Rongxue believes that because the real estate market is still in the restoration stage and the easing policies are frequently introduced, the actual effect is relatively limited, and the pressure on the debt repayment of many housing companies in the next half of the year is still not small. In this regard, Liu Shui said that due to the continuous influence of the market, the possibility of continuing to increase losing companies in the future will not be ruled out. After all, the overall performance of the industry still needs to wait for the market to recover.

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