Two Projects Are Sold For Billions Of Dollars.

Only by relying on two projects in Shenzhen, the real estate company called Qin Cheng Da realized tens of billions of sales last year, which is the envy of the developers of the whole country.

Behind the scenes, the group has been beset by negative rumors. There are hidden worries in the company's operation.

Over the past three years, the real controller, Gu Yao Ming, has acquired the company's billion dollar optoelectronic agreement through the agreement. Due to the irregularities, it has attracted the attention and punishment of the securities regulatory authorities, and the related claims dispute has not yet subsided.

Gu Yaoming has disclosed at the company's internal meeting that business operations and capital operations are indispensable. The real estate based premium for the acquisition of Yijing photoelectric shares is considered to have the intention of backdoor listing, but this operation path seems to be difficult at the moment.

Tens of billions of achievements

Qin Cheng Da, an obscure housing company, sold tens of billions of dollars in 2019, and became famous in World War I.

According to Kerri data, Qin realized the sales volume of 10 billion 20 million yuan in 2019, ranking 152 in the list, of which 7 billion 900 million of the total sales volume of the Zhengda city is 16.

In 2019, the property market of Shenzhen was in full swing.

According to Shenzhen real estate information network statistics, Qin Cheng Da ranked seventh in the 2019 property market turnover list, ahead of it is Vanke, overseas Chinese town, Huarun, Jia Zhaoye, investment and other well-known developers.

Take its trump card as the example, this is the old renovation project in 2016 in Guangming District of Shenzhen, with a total construction area of about 870 thousand square meters, and now there are three phases entering the market, which have been opened six times.

In March 2019, with more than 2 billion yuan of sales, big city became one of the most popular hot spots in Shenzhen.

In November of that year, Zhengda reached the top of Guangming district. In December, it benefited from the mansion tax liberalization. The three phase opened a 4 hour liquidation and sales of 1 billion 640 million.

With its sales of up to 7 billion 900 million yuan in Zhengda City, plus its sales in the Qianhai world of central Baoan, it has achieved a billion billion for the first time.

Qin Cheng Da group official website information shows that the company was founded in 1997, mainly based on real estate development. It is a diversified group that integrates urban renewal, commercial operation, energy technology and financial investment, and its business is mainly concentrated in the big bay area of Guangdong, Hong Kong and Macao.

Reporters queried business data and found that the real controller of the group after its penetration was Gu Yao Ming.

The ancient Yao Ming, from Heyuan, Guangdong, founded the real estate company early, but developed the industry park in Shenzhen, worked hard to reach the garden of the century, and worked hard for twenty-second Century. However, it failed to make great progress and missed the chance of national expansion.

If it were not the big bay area of Guangdong, Hong Kong and Macau, it was not Shenzhen that was listed as a socialist first demonstration area. It was not the outbreak of the property market last year.

Tasting the sweetness of the Shenzhen property market, the ancient Yao Ming also has a big idea.

At the half yearly meeting of the company in 2019, Gu Yao Ming never ignored his ambition. "The next step is to realize leaping development of assets from 10 billion to 100 billion, and to realize the organic combination of capital operation and entity management."

In May 8, 2019, the listed company issued the announcement of the actual controller change. The company invested 2 billion 547 million shares of the company, accounting for 21.65% of the total share capital of the company and became the largest shareholder.

Yijing optoelectronics is a photovoltaic enterprise. Although the industry is committed to diversifying cross-border acquisitions, it is inclined to believe that this is a backdoor listing and a further expansion of the capital market.

Management worries

Gu Yaoming did not show up for a long time in the real estate market.

In January 15th, the company responded publicly that the company was operating normally.

The last time Gu Yao Ming appeared in public was in September 18th last year. Qin Cheng Da signed a strategic agreement on urban renewal business in Guangzhou and Bank of China Guangzhou branch.

In addition to various rumors of real control, the capital operation of hard work has not gone smoothly.

As a photovoltaic enterprise, Yijing photoelectric was listed on the Shanghai Stock Exchange in 2011 and controlled by Changzhou businessman Xun Jianhua. In recent years, the gross profit of optical and electrical products has been declining, and net profit has dropped sharply since 2017. The market value is less than 4 billion, and the operation is in a state of loss.

At the beginning of 2017, Xun Jianhua traded with Gu Yao Ming, after several times of equity transfer and pledge, and the two sides continued to break the "no increase or reduction plan" within twelve months. The seller promised that the controlling power was firm, and the buyer promised not to increase it. "Until the Shanghai Stock Exchange inquired, Xun Jianhua resigned.

In January 8, 2020, Yijing photoelectric announced that it had received 1163 cases of civil litigation materials from many investors, and the amount of litigation amounted to about 120 million yuan. Among them, at the end of last year to the beginning of this year, Yijing photoelectric added 111 cases of liability for Securities Misrepresentation, and the claim was about 6000000 yuan.

Every other day, Yijing photoelectric announced the latest announcement that since November 2019 28 to January 8, 2020, Yijing photoelectric has added 183 mediation agreements signed with investors' attorneys to pay 9 million 630 thousand compensation to 183 investors.

In the twists and turns of the shell buying crisis, one of the $900 million of the acquisition of Yijing photoelectric is from the trust loan of Nanyue bank. In 2019, Li Fu, the governor and vice chairman of the former Yugoslavia bank, was arrested for insider trading and fined nearly 18 million yuan.

All these negative events have cast a shadow over the industry group.

In addition, from a business perspective, as a company that has just over ten billion, Qin is also facing uncertainty in its performance growth.

The supply of land resources in Shenzhen is relatively small, and the cost of land acquisition is high, so it is not easy for housing enterprises to acquire land reserves.

Analysis of the industry in Shenzhen, Shenzhen's old small housing prices are generally early to get good at low prices, the project opened after the market performance is good, good projects sold out, short-lived, it is difficult to maintain the stamina.

Whether in the capital market or from billions of billions to billions of dollars, the road before Gu Yaoming and Qin Cheng Da is by no means a smooth road.