YOUNGOR'S 26 Years Of Real Estate Turned To "Big Health" And Pension

Clothing, real estate and investment are YOUNGOR's "three carriages". In recent years, YOUNGOR, started by costumes, keeps shouting "to return to the garment industry", but in fact, the two "sideline industries" of real estate and investment are making a big move.

In May 24th, YOUNGOR won the CX06-05-02g plot of Ji Shi Gang Town, Haishu District, Ningbo at a price of 75 million 96 thousand and 400 yuan.

According to public information, this is a medical and health land with an area of about 81 thousand and 300.

According to the regulations, the investment intensity of the project is no less than 21 thousand yuan / square meter, which means that the investment of YOUNGOR will be no less than 1 billion 700 million yuan.

For YOUNGOR, who has just fallen on a big stake in investment CITIC shares, the 1 billion 700 million yuan is not a small figure.

As for the intention behind YOUNGOR's commitment to medical care, times finance tried to understand YOUNGOR, and the other side said it could not respond.

According to its announcement, joining medical care is to pave the way for the layout of pension real estate, and explore the pformation of new related industries such as health care, pension and healthy towns.

26 real estate ups and downs

For the industry of Jiangsu, Zhejiang and Shanghai, the name of YOUNGOR is no stranger to it. Since its establishment, YOUNGOR has experienced ups and downs in the real estate industry for 26 years.

Open the official website of YOUNGOR's real estate subsidiary YOUNGOR home, you can see that its latest update was eight years ago.

Page related brief introduction, "YOUNGOR home founded in 1992, for the Ministry of construction, a grade qualification enterprise, for 3 consecutive years by the Zhejiang provincial housing society as the province's 30 real estate enterprises, ranking the top 100 real estate enterprises in China, is currently one of the most influential city operators in Ningbo."

This introduction is a reflection of YOUNGOR's past glory.

As a local clothing giant in Ningbo, YOUNGOR relied on the advantages of "local operations" and shook Ningbo in East Lake garden project around 2000.

After winning the title, YOUNGOR opened the "grab the land" mode in the Jiangsu, Zhejiang and Shanghai regions, because YOUNGOR was once crowned as the "land King harvester".

From 2007 to 2010, YOUNGOR expanded its fiercest stage.

According to incomplete statistics of the times, in the past four years, YOUNGOR has taken more than 7 land in Ningbo, Hangzhou, Suzhou and Shanghai, and there are many "land king" plots.

In 2007, YOUNGOR photographed the plot of Hangzhou Institute of Commerce to create a floor price record of 15719 yuan / square meter.

In 2010, YOUNGOR also spent nearly 6 billion of the total price, winning the Shanghai Changfeng unit price king and the Hangzhou Shenhua unit price king.

Originally wanted to expand the scale of real estate business through this radical expansion, but what YOUNGOR failed to think was that before 2011, a new round of real estate regulation came into being. Under the strict control, YOUNGOR's "real estate carriage" lost its momentum.

In the past 2011-2013 years, YOUNGOR is facing a dilemma of declining profits.

The crisis of profit falling has not yet been lifted, and the Shenhua block of YOUNGOR Hangzhou has been caught in the embarrassing situation of "flour and expensive bread" because of the downfall of the market, and the project has not yet started construction.

In order to stop losses, YOUNGOR made a decision to return to the ground in June 2013.

To this end, YOUNGOR paid 484 million yuan and profit fell nearly 14% of the price.

However, the destruction of the land market can not affect the enthusiasm of YOUNGOR on real estate. The heavy lost YOUNGOR tries to use the power of capital to continue the development of the real estate business.

In January 2014, YOUNGOR tried to shell out its first real estate business, but the restructuring was aborted after a month after the main planner, Gong Dongsheng, got into trouble.

YOUNGOR's real estate business was quickly silenced down by successive wall ups.

At that time, Li Rucheng, chairman of YOUNGOR, admitted that the country was constantly regulating the real estate industry. The real estate path is hard for YOUNGOR to go through.

Therefore, YOUNGOR plans to invest 10 billion yuan to strengthen the innovation of new materials, new fabrics, new processes, new brands and new services, and threaten to regenerate YOUNGOR in five years.

For YOUNGOR, property is hard to get through, but it's not easy to get back to the main business.

According to media statistics, during the 1998-2017 years, the total net profit of YOUNGOR clothing was 9 billion 590 million yuan, the net profit of real estate business was 10 billion 680 million yuan, and the total net profit of investment business was 12 billion 730 million yuan.

The above data show that YOUNGOR has a high degree of dependence on the real estate business and investment business, which makes it impossible for the company to "retreat".

So last year, YOUNGOR's real estate business revival and its appearance again appeared in the land market and the M & a market.

Last July, YOUNGOR announced that it would jointly invest 2 billion yuan with wholly owned subsidiary YOUNGOR real estate holdings limited to set up Shanghai YOUNGOR Real Estate Development Co., Ltd.

For the purpose of re establishing the real estate subsidiary, YOUNGOR said, "the move is to seize the development opportunities of the national real estate industry, search for quality projects and plots through mergers and acquisitions, expand and strengthen the company's real estate business, and cultivate new profit growth points."

YOUNGOR's home purchase last year spent nearly 4 billion yuan on its site, taking three plots in Ningbo and Zhoushan.

This momentum has also been extended this year. In early April of this year, the Suzhou Lang Yi Da Enterprise Management Co., Ltd., a wholly owned subsidiary of YOUNGOR, invested 1 billion yuan and successfully bid for the Tianjin billion high building through the online auction.

The YOUNGOR annual report shows that as of the end of 2017, there were 9 projects under construction, 986 thousand square meters under construction, and 4 land reserve projects, covering 40.35 square meters of land area and 617 thousand and 500 square meters of floor space.

Bet on "big health" and pension real estate

The real estate business has set sail again, but its former advantages are no longer in existence. YOUNGOR has begun to seek pformation, and the old age real estate based on the concept of "big health" has become its new goal.

Regarding the reasons for plunge into the field of big health, YOUNGOR once explained that "with the enhancement of China's comprehensive national strength, the improvement of people's living standards and the further promotion of national health care reform, the medical and health industry will have broad prospects for development and huge investment opportunities."

In 2015, YOUNGOR set up YOUNGOR health industry fund with its own funds, announces formally to march into the field of "big health".

The first phase of the fund is 1 billion yuan, the total amount of capital contribution is 500 million yuan, and the duration of the fund is 5 years.

Wholly owned subsidiary YOUNGOR Investment Co., Ltd. is a manager who is responsible for finding investment projects around the health care industry.

The industry interpreted YOUNGOR's action as a "medical health industry + pension real estate" mode, because YOUNGOR has some local advantages in Ningbo, and it is more convenient and flexible to obtain land, which is conducive to its pformation to the direction of the pension real estate.

This won the Ningbo Haishu district medical land confirms this statement.

According to local media in Ningbo, the plan for the plot has been completed before taking the land. YOUNGOR plans to build a standard hospital with a floor area of 236 thousand and 160 square meters and 1600 beds.

Echoing with the hospital, there are planned Supporting Centers for the elderly.

Reported that YOUNGOR will be in 2020 with the hospital attached to the plot to build an old age pension center, planning covers an area of 150 thousand square meters, has 1200 rooms.

However, Liu Cheng, a researcher with urban development, pointed out that unlike traditional residential or commercial development, pension real estate is a "high threshold" area. "Many domestic pension projects have reached 8-10 years of construction cycle. They have put forward very high requirements for the development of funds, development and operation capabilities. Even if they are completed smoothly, the operation and maintenance process will be very long in the future."

Time finance found that YOUNGOR has already had a sample in the field of pension.

In February 2004, YOUNGOR built an old age care project called "YOUNGOR elderly paradise" in Yinzhou District, Ningbo. The total construction area is 73113 square meters, with a total investment of 220 million yuan. It is the embryonic form of Ningbo's "pension real estate".

"Although YOUNGOR is inferior to brand housing companies in terms of comprehensive strength, it has to borrow

Brand name and early accumulation of resources, YOUNGOR in Ningbo can still get some good opportunities, as long as we seize the opportunity to rely on pension projects to achieve real estate business "turn around" is not impossible.

In fact, in addition to pension real estate, YOUNGOR is still testing water tourism real estate.

According to YOUNGOR, at present, YOUNGOR has already completed the project of Cixi Dapeng Mountain Hotel, Suzhou Youngor Central Hotel, Suzhou Radisson Hotel and Bridge farm.

It should be noted that no matter how YOUNGOR tries to reverse the real estate business, the decline of performance is the most important problem to be solved at the moment.

YOUNGOR annual report pointed out that in 2017, its operating income was 9 billion 839 million yuan, a year-on-year fall of 33.94%.

In this regard, YOUNGOR said that the main reason for the decline in performance last year was that there was no centralized delivery of the real estate sector during the reporting period, and that the net profit attributable to shareholders of listed companies was 5148.01 million, down 86.58% from the same period last year.