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YOUNGOR Will Not Withdraw From Hangzhou Land Market In Response To Land Withdrawal

2013/6/23 20:49:00 30

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YOUNGOR will pay 484 million 200 thousand yuan for its impulse. 
 YOUNGOR director Liu Xinyu told reporters that the document had not yet been signed with the Hangzhou Land Bureau. The incident is being pushed forward. Due to prudence, it has made good preparations for 480 million, which does not mean that YOUNGOR has to withdraw from Hangzhou's land market. 
 earlier, the land market in Hangzhou also had a lot of land withdrawal time, but it did not cause a stir like this one time. The reason is that the margin of YOUNGOR's two plots is too large. 
 > retreat > /strong > 
 according to the land spanaction information of Hangzhou land and Resources Bureau, the above two blocks were picked up by YOUNGOR at a high price of 2 billion 421 million yuan in November 30, 2010. Reporters learned that up to now, the two land YOUNGOR paid only the first phase of land total 1 billion 210 million 500 thousand yuan. 
 the reason for land withdrawal is that YOUNGOR said that since 2011, the real estate policy environment and market situation have changed greatly in order to protect the interests of shareholders. 
 the company has made a comprehensive decision to release the land spanfer contract to the Hangzhou Municipal Land Bureau and prepare for the impairment of large assets. 
 the margin of this 480 million is also calculated by 20% of YOUNGOR's land fund. 
 YOUNGOR said that the relevant matters are being pushed forward. The provision for impairment of assets will affect the total profit of 484 million 200 thousand yuan in the current period, affecting the net profit attributable to shareholders of listed companies by 484 million 200 thousand yuan. This phase of the company's real estate sector is expected to be over 8 billion yuan (over 53%) in 2013 (year-on-year increase). After deducting this asset reduction preparation, the net profit of the real estate sector is slightly lower than that of last year. 
 looking at the whole country, the largest confiscation margin appeared in December 15, 2009. The Nanjing Land Bureau cancelled the bid qualification for the real estate and the Kowloon warehouse, and confiscated the bid security deposit of HK $245 million. 
 lack of money or seek him out again? /p >
 2012 annual report shows that in 2012, YOUNGOR had 4 projects (Ningbo new Seaview Garden, Long Island Les Loges Du Park Hotel, Suzhou future city five phase, Hangzhou Xixi fine snow four projects) to achieve delivery and carry over revenue. The real estate and tourism development business achieved an overall revenue of 5 billion 158 million yuan and a net profit of 1 billion 9 million yuan, representing an increase of 41.84% and 76.54% respectively over the same period last year. Among them, the real estate development business revenue to achieve 4 billion 796 million yuan. 
 by the end of 2012, the pre-sale housing cost of YOUNGOR remained 14 billion 700 million yuan, which guaranteed the revenue in the next 2-3 years. In addition, the data of China real estate appraisal center also showed that YOUNGOR ranked thirty-ninth in the domestic real estate sales in the first quarter of this year, with sales revenue of 4 billion yuan. 
As of P, as of May 31, 2013, YOUNGOR realized a total of 6 billion 10 million yuan in advance sale, an increase of 92% over the same period last year. 
 to combine the above data, in other words, it is not difficult for YOUNGOR to pay the land fund. 
 "Hangzhou Shenhua plate competition is very fierce. YOUNGOR's surrounding property is playing a price war. YOUNGOR is making a clear decision to break the arm." A developer in Hangzhou told reporters that it is difficult to judge whether the move is wise or not, and every company has its own strategic plan. 
 a YOUNGOR insider told reporters that YOUNGOR is also expanding its land reserve. However, throughout YOUNGOR's recent performance in the land market, its newly captured projects are basically concentrated in the base camp of Ningbo, Zhejiang, and two projects have chosen to cooperate with other developers in the way of local cooperation. This series of actions is not difficult to see that the YOUNGOR front has become more cautious at the same time.