96 Listed Housing Companies Liabilities Nearly Trillion &Nbsp, An Increase Of 45% Over The Same Period

By the end of April,

Overall, nearly three quarters of the 96 listed housing companies have achieved performance gains in 2010, of which Changchun's economy grew by 3405% over the same period last year, and 13 Housing enterprises such as China Aviation real estate and China Hong Kong real estate industry also achieved an increase of 100% over the past four years.

And the performance of 26 housing companies such as Shanghai Xin Mei and Dalong real estate has declined, of which Yun Sheng industry has fallen 1343% year-on-year.

In addition, only 96 green listed real estate enterprises and green fortune industrial losses, and the other 94 have achieved profitability.

WIND data showed that the total income of the 96 Housing enterprises in 2010 totaled 324 billion 200 million yuan, up 27.8% from the 251 billion 300 million yuan last year, and the net profit of the parent company was 46 billion yuan, an increase of 27.78% over the previous year's 36 billion yuan.

Among them, "Wanbao Jin" four housing enterprises leading business income reached 119 billion 900 million yuan, accounting for 36.98% of the total 100 housing enterprises operating income.

However, in the growth of performance, the annual reports of these listed housing enterprises also exposed a lot of issues worthy of market attention.

According to data provided by WIND, the total liabilities of 96 housing companies at the end of 2010 have reached 955 billion 300 million yuan, up 45% from 658 billion 800 million yuan a year ago.

Among them, more than 30 listed housing companies have an asset liability ratio of more than 70%, and the highest development rate of assets and liabilities is 94.87%. The assets and liabilities ratio of 6 companies such as Lu Shang, Tibet, Tianjin, Songjiang and Shanghai real estate is between 80% and 90%.

In the same period, the inventory of the 96 Housing enterprises also reached 811 billion 100 million yuan, a sharp increase of 236 billion 700 million yuan compared with the end of 2009, an increase of 41.2% over the same period.

At the same time, about half of the housing enterprises in the inventory turnover, the turnover cycle is extended.

In this regard, insiders pointed out that the majority of listed housing enterprises surge in inventories, inventory turnover rate decreased, the main reason is to take the rhythm too fast, land reserve growth faster than the growth of operating income.

Take Poly Real Estate as an example. At the end of last year, the company's inventory reached 109 billion 898 million yuan, an increase of 82% over the same period last year, and its settlement resources also reached 41 million 950 thousand square meters.

And listed companies with year-on-year growth of more than 100% are also owned by Ningbo, Fuda, Shun Fa Heng, Tibet City, Wan ye and gorgeous family.

In terms of money and money, 96 housing companies held a total of 185 billion 500 million yuan at the end of 2010, compared with a short-term loan of 69 billion 400 million yuan for the same period, but their monetary funds were down by 31 billion yuan in 2009.

At the same time, the operating cash flow of 96 housing companies also fell sharply, from 35 billion yuan at the end of 2009 to -828 billion yuan, down 336.57% compared with the same period last year, and the decrease of cash flow is more than 100 billion yuan.

Among them, Vanke, the first open share, overseas Chinese town and other real estate enterprises operating cash flow year-on-year decline is more than 7 billion yuan.