Home >

The Pain Of YOUNGOR'S Retreat: 484 Million Loss Must Be Sold For Tens Of Millions Of Garments.

2013/7/8 13:43:00 50

??? 日本語 Fran?ais English 中文

YOUNGOR YOUNGOR Clothing YOUNGOR Real Estate

img border= "0" alt= "align=" center "src=" /uploadimages/201307/08/20130708014300_sj.JPG "/" < < > >
" in June of this year, YOUNGOR announced that it had returned the two land it had competed 3 years ago at the cost of 484 million yuan deposit. 
 YOUNGOR, once a leader in the real estate industry in Hangzhou, has been planted this time. 
 in late June, YOUNGOR announced the lifting of the land contract with the Hangzhou land and Resources Bureau, and returned the land of the Shenhua plate of its two hands. 
 these two lands were won 3 years ago. At that time, the domestic real estate market was booming. YOUNGOR, originally known as a target= "_blank" href= "http://www.91se91.com/" > clothing "/a", has become the real estate tycoon and has become the "land King maker" in several cities. 
 Shenhua block, which is YOUNGOR's heavy hand in Hangzhou. The total price is 2 billion 421 million yuan, the floor price is more than 17 thousand yuan / square meter. 
 3 years ago, land king was refunded by YOUNGOR due to real estate regulation and profit prospects. The price YOUNGOR paid for it was that the margin of 484 million yuan was "beat the bucket". 
 helpless retreat, loss of 484 million yuan /p >
 the cost of land withdrawal is that 484 million yuan will be deducted, equivalent to 30% of its net profit of nearly 1 billion 600 million yuan last year. 
 June 20th evening, YOUNGOR announced that after its "friendly consultation", its wholly owned subsidiary, Chengbei real estate, has signed an agreement with the Hangzhou land and Resources Bureau to lift the contract for the assignment of the right to use the land of [2010]53 and 56. 
 on the other side, the Hangzhou land and Resources Bureau also revealed at the same time that the cancellation of the two parties was mainly due to the fact that YOUNGOR did not fulfill the contract in accordance with the land spanfer contract, and had already agreed to the Hangzhou municipal government. 
 YOUNGOR took the Shenhua block in November 2010 through open auction. Statistics show that Shenhua block is located near Hangzhou automobile north station, about 10 km away from West Lake scenic area, and also has a good idea of "subway concept". 
 the rules of land auction are always "high priced people". In order to put the "mature and high-quality" Shenhua block into account, YOUNGOR opened a total price of 2 billion 421 million yuan. 
 the cost of YOUNGOR's land withdrawal is 484 million yuan for the payment of contractual gold, which will be deducted from the land and Resources Bureau of Hangzhou and not returned. 484 million yuan is equivalent to 20% of the total land price. In the June 20th announcement, YOUNGOR said it had made provision for impairment of assets for this part of the losses. 
 for YOUNGOR, such as suits and shirts, 484 million yuan is equivalent to 30% of its net profit of nearly 1 billion 600 million yuan last year, which is close to 1 billion yuan and 50% of the net profit of real estate business. 
 if the garment business is compared, the loss of land return will be greater. The annual report shows that in 2012, more than 2 YOUNGOR clothing workers worked for a year, earning a net profit of 818 million yuan. The loss from land loss is 484 million yuan, which is equal to the labor of over half a year. 
 annual report shows that in 2012, < a href= "http://sjfzxm.com/news/index_f.asp" > YOUNGOR clothing < /a > sales total sales of 20 million 330 thousand and 800 pieces, achieving net profit of 818 million yuan, or about 40.26 yuan per garment. According to this calculation, the loss of 484 million yuan will be compensated by the sale of about 12000000 garments. 
 land prices have dropped sharply, and the cost that YOUNGOR will eventually pay may be more than 484 million yuan. According to the announcement, if the total price of the Shenhua block is re sold, it will be less than 80% of the total price of 2 billion 421 million yuan when YOUNGOR takes the land. YOUNGOR will pay the difference between them. 
 according to the price of YOUNGOR's 2010 auction, the floor price of blocks 53 and 56 reached 17751 yuan / square meter and 18114 yuan / square meter respectively. Unexpectedly, two years later in August 2012, another real estate company Tianyang real estate took Shenhua 13 plots. What makes YOUNGOR hard to face is that compared with No. 53 and No. 56 of YOUNGOR, No. 13, prices dropped sharply. The floor price of ground 13 is 12028 yuan / square meter. That is to say, the floor price of Shenhua block's latest auction is less than 70% of YOUNGOR's two plots. 
 so, the property developed by YOUNGOR has lost its price advantage compared with the project of Tianyang real estate development. If YOUNGOR continues to develop, it may be faced with a loss. 
 YOUNGOR said in its announcement that the commitment to make up the difference in price constitutes its contingent liability. {page_break} 
 .
 "Hangzhou king" campaign < a href= "http://sjfzxm.com/news/index_c.asp" > YOUNGOR < /a > First World War became famous, /p >
 repeatedly showing people in the image of "land King maker", YOUNGOR executives said, "in fact, it is helpless." 
 the sale of Shenhua No. 53 and block 56 occurred in November 2010. At that time, the national real estate market was flourishing, ranking the first place in the list of China's urban housing prices, especially in Hangzhou. While prices are rising, real estate companies are very enthusiastic. 
 with the buyers of No. 33 YOUNGOR, there are many powerful local developers in Zhejiang, such as Greentown, Binjiang, Shaoxing and Jinchang. Prior to 2007, by pushing the Hangzhou Institute of Commerce block onto the "king of Hangzhou", YOUNGOR became famous in the Hangzhou real estate sector. 
The media in Hangzhou, P, described YOUNGOR's process of Shenhua block as "simple and crude". Among them, in the auction of block 53, YOUNGOR used the 15 round of "PK" to drop the Shaoxing Jinchang, and the auction of No. 56 was only 10 rounds, which was taken by YOUNGOR. 
 56, by virtue of its floor price of 18114 yuan / square meter, it becomes "land king". Around the surrounding plots, YOUNGOR's land prices are much higher. The information from Sina Locke shows that the price of Poly International champagne is around 11000 yuan per square meter, while the Hsin Sheng Oriental mansion is 9900 yuan / square meter. 
"P" repeatedly shows people in the image of "land King maker". YOUNGOR has attracted criticism of "pushing up Hangzhou's housing prices". Some buyers even called for "boycott YOUNGOR" on the Internet. 
 "is actually a helpless move." The owner of YOUNGOR real estate once said that the essence of land auction is "paid spanfer, high price", "competitive bidder" and "win the top one". 
 announcement shows that after taking the Shenhua block, YOUNGOR paid the first 1 billion 210 million yuan of land spanfer price to the Hangzhou land and Resources Bureau within the agreed time. 
After P, the operation of YOUNGOR Shenhua block fell into silence. Hangzhou insiders pointed out that, in general, mature developers will start construction after 10 months. But at the beginning of last year, some media reported that the land had been in the past 15 months, but the two land was still surrounded by walls and covered with weeds. 
 at that time, there was news of "YOUNGOR application for land withdrawal". But both YOUNGOR and officials denied the news. According to the argument at that time, the main reason why YOUNGOR had not been developed for a long time is that it has not yet arrived at the time the government handed in. 
 March this year, the design plan of Shenhua block appears on the website of Hangzhou Municipal Planning Bureau. This seems to have shattered the previous rumours of land retreat. There are even reports that construction is expected to start in the year. 
 only 3 months later, "YOUNGOR's retreat" became the established fact. The "king of land" is an ancient form. {page_break} 
 .
 on the other hand, we spend about 2000000000 to take the place of .
 retreat is not YOUNGOR no longer optimistic about real estate, but just not optimistic about the development prospect of Shenhua block. 
 "since January 2011, the policy environment and market situation of the real estate market have changed greatly." This is the reason for the withdrawal. Liu Xinyu, YOUNGOR's director general, said that the return of land was the result of the "comprehensive trade-off" of the company. 
"P" in Hangzhou, general manager of the Hangzhou win home marketing agency, said that the YOUNGOR retreat may be based on the future price trend is not optimistic. According to her analysis, two plots of more than 17 thousand yuan per square meter of floor land price, plus Jianan, marketing and other costs, want to be profitable on the project, "YOUNGOR must sell the house to 30 thousand yuan per square meter." 
 "the price of housing around Shenhua plot is not more than 25 thousand yuan / square meter." Zhang Huifang said that from the action of land withdrawal, YOUNGOR may expect that in recent years, prices will not rise to make it "turn losses into profits" situation. 
 "now that the land loss is 484 million yuan, YOUNGOR may decide that after investing billions of development, it is still losing money and may lose more." Zhang Huifang analysis said. 
 it is reported that as early as last year, the head of YOUNGOR had said that under the current situation, the two land of Shenhua block did not really have room for profit. 
 Liu Xinyu did not give a positive answer to the question of why he did not want to seek direct spanfer of land. 
 Zhang Huifang analysis said that under the current housing market and credit conditions, a "can take out 2 billion 400 million yuan" is not easy to find. On the other hand, even those who have real strength are facing more than 17 thousand yuan / square meter of floor price, "do not dare to take lightly." 
 Zhang Huifang also speculated that the YOUNGOR's strategic adjustment might also be involved in the land retreat incident. "After YOUNGOR entered Hangzhou, it always gave people the impression that they were not acclimatized." Zhang said that the events such as the long development of the imperial West Lake project were examples. 
 the executive director of jemun think tank, LAN Hong Hai, also describes YOUNGOR's performance in Hangzhou with "acclimatized". In his view, YOUNGOR's retreat is the painful choice of "breaking the arm to survive". 
At the end of May, before the land retreat, YOUNGOR announced that it had invested 1 billion 450 million yuan to win a land in the core area of Dongcheng, Ningbo, P. According to statistics, since this year, YOUNGOR has made about 2000000000 yuan into real estate in the form of bidding, auction or stock participation. 
 "Ningbo to take land and Hangzhou to return to the ground" can reflect the trend of YOUNGOR real estate layout. Zhang Huifang said. However, Liu Xinyu had previously told the media that the withdrawal of land does not mean YOUNGOR withdraw from the Hangzhou land market. 
 > the reasons for land withdrawal to catch up with macroeconomic regulation and control are unavoidable mistakes in business activities. Liu Xinyu said YOUNGOR has a relatively stable style of doing things. 
 but in Lan Honghai's view, YOUNGOR's "high price king" behavior is "more radical" in the real estate boom.