100 Billion "Shi Maofu Sheng" Platform Birth Real Estate Acquisition Mode Upgrade

On the afternoon of January 13th, Shimao Group and Fusheng group jointly announced strategic cooperation in all directions. The two sides have established the "Shimao Fu Sheng" platform, which is president of the Shimao Strait development company (hereinafter referred to as "Shimao Strait") and chairman of the Shimao Straits. Xu Shitan, vice chairman and President of Shimao Group's board of directors, believes that strategic cooperation will have the effect of 1+1>2. Shimao's strength lies in its financing ability, trading capacity and construction management. Fu Sheng group's advantage lies in project reserves.

It has been revealed that in the future, both sides will use the "Shimao Fu Sheng" for the brand export of the projects involving cooperation. Xu pointed out that Shimao is currently involved in the daily operation of Fu Sheng by means of agent construction and brand export.

For Shimao, sales volume will increase by 30 billion in 2020. In addition, after the signing of the strategic cooperation agreement, Fu Sheng group's Fujian six Construction Group Co., Ltd. or Cheng Shimao subsidiary. Shimao wants to open up the upstream and downstream industry chain and build the "real estate cooperation ecosystem" under the new normal.

The establishment of "Shimao Fu Sheng" platform

According to people familiar with the matter, Shimao Fusheng will become one of the four platform companies under Shimao Strait. Its office is located at the headquarters of Fu Sheng group. The other three platforms are Xiamen operation center, bay area operation center and urban renewal platform. The docking of functional departments of Shimao Fucheng platform will take place this weekend.

According to Xu Shi Tan, 2019 is still a difficult year for Chinese real estate. Of course, it has increased to 16 trillion from the total sales volume, which is also the highest in history, but the supply is still increasing. So in fact, developers may also face pressure from inventory and face the pressure of further shrinkage of profits. In the past, China's real estate might be "big fish eating small fish". The next step is actually "big fish eating big fish" and even the era of integration.

Xu Shi Tan said: "in 2019, the growth of Shimao was faster, because compared with the top ten of the industry, the number of Shimao base was smaller, so it is also right to be quick. We did a lot of platform integration this year, but we didn't think it was a takeover, for example, Tai ho or Guangdong. Besides, we still hold shares, and Shimao comes to the market and accounts, but it will take up a larger share. "

Xu Shi Tan focused on the Shimao Strait, which first broke through 90 billion sales in 2019, and made many explorations in the way of operation, such as integrating resources in the big bay area. At present, the Shimao Strait is the first place to sell in the great Fuzhou; in the center of Fuzhou, Fu Sheng achieved the first and the largest selling area in Fuzhou in 2019. Xu's vision is that after the two integration, the new platform will become stronger and bigger.

According to Lu Yi's statement, the next step is to carry out a relatively large reform of the original structure of Fu Sheng, and the overall tone is positive, streamlined and effective. For example, there are more personnel in the past, and the next step should be reduced; the cost of all aspects is relatively ample, and now it may be tighter. And so on, through internal cost control and other means, Shimao Fu Sheng platform will use a more extreme way of management to enhance profits.

400 billion old change imagination space

Xu said that the details of the announcement will be released after the completion of the completion of the regulation, and the answers to a number of issues of great concern to the outside world will be answered: first of all, cooperation is a comprehensive cooperation, including real estate development, construction, property management and so on. Fu Sheng has a lot of resources in the old reform, including rich old projects and urban renewal projects in Shenzhen, Huizhou, Zhenjiang, Yangzhou, Zhengzhou and other places. Second, equity cooperation is mainly based on Shimao and Fusheng. Because cooperation is still in the early stage, Xu believes that at this stage, it can not disclose much, but it will "make brand output as soon as possible and do sales as soon as possible".

To be sure, Fusheng group holds nearly 400 billion old assets, which is much larger than its 100 billion market capitalization with pre-sale conditions. Xu Shi Tan also admitted that Shimao had its own shortcomings, but was confident that it could make the old changes. Take the Yue Yue project acquired by Guangzhou as an example, the transformation of the Shimao sky project after 4 months has achieved a comprehensive upgrade of the project, not only breaking the situation of the new housing in the region for many years, but also creating the first Guangzhou Ali cloud intelligent community. The final project achieves a higher premium than the surrounding property 60%-100%, and the unit price is broken by 100 thousand.

Xu Shitan said, "Fu Sheng has hundreds of billions of old assets, this profit is very high, and the old reform is the weakest. For example, Shimao has about one trillion of the land reserve, if it is the top ten developers in the country, it should be almost seventh, eighth. But if we say that we may have to rank 20 after the old changes, I should have calculated that our old changes should be within 100 billion, but if we add Fu Sheng 400 billion, we may make up a big short board for the first 5 and the first 6. "

Regarding the outside world's doubts about whether the world trade is misreading Fu Sheng, there are three reasons why Xu Shi Tan explained the following reasons: first, Shimao does not give huge sums of money. In fact, there are about 100000000000 stocks with sales conditions and about 30000000000 commercial assets in SHIMENG's hands. Second, Fu Sheng is faced with short-term liquidity problems, and needs to change short-term money into long-term debts. Shimao will do this together with financial institutions. Third, Shimao Fusheng's sales target is 30 billion this year, which is less than that of Fu Sheng's previous sales target. "We hope that (100 billion yuan) can be purchased in four years, not too fast." Xu Shi Tan and Pan Weiming, chairman of Fusheng group, have expressed their expectation of increasing profits.

It has been revealed that Oriental assets, XinDa assets and other financial institutions provide support for the admission of Shimao. Tang Po, director of the executive director and financial management center of Shimao Group, stressed that in order to help Fu Sheng pass the current temporary difficulties and resume operation as soon as possible, the Shimao financial team will make a debt restructuring with Fu Sheng financial team. Specifically, debt restructuring mainly relies on the resources of Shimao, combined with the actual situation of the project, and gradually has the solvency through Fu Sheng's late operation.