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Deepness of 10 thousand divisions investigates: Industry crisis saves oneself me

来源: 作者:Stand originally 时间:2008-12-28 Tag: 点击:
It is under phenomenon of bubbling with noise 10 thousand divisions, firm ground is carrying out 10 thousand divisions to learn Paerdi the strategy, depreciate quickly make its master an industry first machine, reclaimed quickly partial capital. From " inflection point is talked " counter-purchase to drive of equity of 10 thousand divisions cause " share price door " , rich guest of Wang Shi is caused " contribution door " , this year depreciates once more cause " retreat Fang Chao " , article of a net is lifted later " Song Shanhu incident " , experience of this year can encircle 10 thousand divisions can nod. On September 19, yu Liang of general manager of 10 thousand branches expresses to media, "The method with industry best crisis still relies on to save oneself, it is good to rely on benefit impossibly all the time give aid to. "   is under phenomenon of bubbling with noise 10 thousand divisions, firm ground is carrying out 10 thousand divisions to learn Paerdi the strategy, depreciate quickly make its master an industry first machine, reclaimed quickly partial capital. Be in profit record that the Paerdi in borrowing the crisis ended to be as long as 56 years, dimensions risk also brings 10 thousand divisions a new challenge likewise. Depreciate measure -- clinch a deal the   that measure   the media September 19 meets on the meeting, yu Liang expresses high-key confidence to the prospective foreground of real-estate industry, this is from Wang Shi " inflection point is talked " later, 10 thousand divisions adjust the statement that judges to the market actively first. "Policy of macroscopical adjusting control returns rational course eventually through adjustment of 5 years " , wait for a respect from macroscopical index and financial safety, yu Liang expresses, although real-estate industry has difficulty, but won't bigger than difficulty of industry of present manufacturing industry, milk. 10 thousand divisions respond to the problem that whether continues to depreciate without the front. Executive vice-president is like Li complement to express, whether do 10 thousand divisions depreciate measure is in " clinch a deal quantity " . Xiao Li says, "The adjustment of first time of 10 thousand divisions is to was in Shenzhen last year, why can you take the lead in depreciating? Because see at that time,be clinch a deal quantity substantially atrophic, so the adjustment of 10 thousand divisions is to be based on pair of markets to clinch a deal the judgement of the quantity. " the measure that how   calculates 10 thousand divisions? In July 2007, annulus of area of sale of Shenzhen skill room drops than June 15.32% , in August 2007 criterion annulus drops again than July 30.93% . Secondhand the room trades the quantity also began to drop considerably in August, annulus dropped than July 26.39% . Subsequently, shenzhen residence trades the quantity is comprehensive and atrophic. 10 thousand divisions are grabbed take the lead in depreciating before other development business. On October 20, 2007, 10 thousand inflict the Jin Yudong county of 10 thousand divisions that 7500 yuan low rolled out every square metre to be located in area of Shenzhen dragon hillock, 475 first open quotation accused carry out exhaust namely that day. And at that time, the building of dragon hillock area dish unit price is controlled in 10 thousand yuan at least. The corresponding period, trade likewise atrophic Guangzhou, on December 9, 10 thousand divisions of Guangzhou are aureate Kang Yuan, open quotation all valence every square metre 13 thousand yuan, draw scare buying of Guangzhou citizen the same night queueing up. Stand fast all the time the Shanghai market that price high volume drops, this year 7, also achieved August went out to clinch a deal the history of the quantity is new low. For this, 10 thousand divisions are rolled out sturdily in long triangle " the 2nd round depreciate " . On August 30, 8 buildings that 10 thousand divisions of Shanghai develop dish at the same time 8 lose sales promotion, 8 days of time sell 337, subscribe amount 567 million. 10 thousand divisions also roll out Hangzhou of the corresponding period depreciate activity, roll out 7 days to sell 306, subscribe amount 260 million, peaceful Bomoke sells 213 inside 5 days, amount 180 million. And bead three-cornered sales promotion continues to undertake stealthily. In August the middle ten days of a month, 10 thousand divisions are started again " bank group is bought " , to some large commercial bank leaves piece send decorate, lowest falls to buy privilege to the 8 groups that lose, shenzhen two big projects " city of 10 thousand divisions " , " the 5th garden " lowest falls to 7500 multivariate / of square metre new low. "The effect after depreciating is very apparent, " Xiao Li expresses satisfaction to depreciating effect. She thinks, the market has demand, and the demand that is tigidity. "Depreciated really, customer can be bought, because rigid demand is in whole this round of change that essence did not produce in adjusting. " the viewpoint that Xiao Li confirms her with data: Of lump-sum payment of empty? of bold of ignoranting frequency grave be in 32% the left and right sides, the choice of 68% is mortgaged, but in mortgaging head pay scale to be achieved on average 37% . Newspaper data shows in, the first round depreciate the sales revenue with make 10 thousand divisions still were obtained in weak city better. Implementation sells an area 2.658 million square metre, sell amount 24.13 billion yuan, grow respectively compared to the same period 15.0% with 38.1% . Up to by June, the company still has 3.198 million square metre to already made work the area was not participated in this period settle accounts, contract amount is total about 28.64 billion yuan. Guard estimation, there will be 52.77 billion yuan sales revenue this year, do not contain settle accounts obligate to the part of next year, with 2007 sale 52.36 billion sales revenue can keep balance basically. Market share criterion by the 1.9% growth first half of the year arrived 2007 this year 2.7% first half of the year. But, anatomize its clinch a deal every months, criterion not likely is hopeful. This year after May, the sale speed of 10 thousand divisions glides ceaselessly. 1~8 month, company accumulative total sells an area 3.492 million square metre, decrease compared to the same period 4.8% , sell amount 31.31 billion yuan, grow 5.0% compared to the same period. Meanwhile, building city a bit did not turn warm climate. The basis combines the newest research report of negotiable securities, since 3 quarters, countrywide commodity house sells an area to drop quickly. To this year the construction sale of house of commodity of whole nation of the end of the year is compared will exceed 4, achieve 4.64. Also namely if sale speed of future and keep balance now, the building that already began construction at present is sold entirely, need 4.64 years about. And sale of construction of house of our country commodity is compared since 1999 each years under 4, it is respectively only in 3 years of in the past 2.99, 3.15 with 3.1. Real estate of associated negotiable securities is advanced analyst Yu Jinhua thinks, construction sells compared aggravation, show development business to depreciate the pressure of the sale is done not have not only abate, still building up instead. "We maintain an awe-stricken heart to the market from beginning to end, " Yu Liang says, "Market strength is the greatest, any force cannot change whole market to develop the rule; Every enterprise should comply with the change of the market. If our deviate this market, to the word of ignore of vicissitude of the market, negligence, we obtain good management outstanding achievement impossibly, this is us is essential. " which city can triple wave of   depreciates be? Advanced two rounds depreciate in strategy, of Shenzhen and Shanghai clinch a deal quantity atrophy all drops compared to the same period more than 50%-60% , and the city anticipates appear after obvious inflection point, 10 thousand divisions are decisive depreciate. The Beijing building city of the Olympic Games clinchs a deal to be achieved ceaselessly after piece new low. The statistic of antediluvian and landed academy shows, this year August, day of Beijing commodity house all clinchs a deal a cycle of songs in a traditional opera 287, dropped than 319 of July 10.03% ; Relatively 635 of the corresponding period dropped last year 54.8% . But price respect did not appear to become loose apparently, most project value still is maintained in perch. 10 thousand divisions of Beijing have 4 buildings dish making work, 4 buildings dish open to booking. Yu Liang states 10 thousand divisions are in Beijing all the time " draft is not late " , best outstanding achievement discharges the 7th after Shenzhen, Guangzhou, Shanghai namely. Whether does Beijing depreciate the next that becomes 10 thousand branches heat? Is land politic -- along with whether to depreciate to make 10 thousand divisions disconsolate with respect to city   all right? 10 thousand divisions " not afraid depreciate " . July the negotiable securities that enrol business holds " finance and landed forum " go up, 10 thousand divisions a tall canal expresses to investor, 10 thousand divisions will insist to follow row with respect to city, stroke the wave motion of flat market value. And this one strategy is 10 thousand divisions learn his the first " surveyor's pole " Suo Ni's result. Tall canal of 10 thousand divisions explains to investor, estate company is OK build a house to look the way that is similar to manufacturing industry, combine raw material into the house that is to say and sell the house go out, in this among because turn a kind of thing into another kind of thing,created value, share the value of creation with the client namely. Tall canal of this 10 thousand divisions expresses, if house price goes now to drop, the market appears adjust, price can go now to drop certainly; If house price appeared to be not,drop rationally, price is met certainly to the blame of more large-scale, later rate reason drops. Sell a house according to the normal circumstance of the market at this moment, buy according to the circumstance with normal market again, sooner or later one day the market can offset all losses, "Want to sell a cash recapture to come the house only, can receive land again. Just be after diverting the profit this year, will for a long time look, want to see a 3 cycle that arrive 5 years only, the profit to this company won't decrease to be able to increase instead not only, so we can be followed certainly row with respect to city. " 10 thousand divisions of   not dread depreciates, but emphasize cash flowing. "We know price has not fallen after all, but do not buy the land completely impossibly again, the land is bought more as soon as possible when it is cheap that we or hope are in, when it is cheap to be about to change in land namely so there is more money in the hand, otherwise if price falls come down money is done not have in the hand trashy. " should be in charge of high say. This one strategy is in 10 thousand divisions already began to carry out in the land reserve 2007. The land reserve of rights and interests of 10 thousand families was 18.21 million square metre 2007, according to sell an area in those days 6.137 million square metre, control is developed inside two years. Up to now year on August 5, total land of 10 thousand divisions lays in 19.09 million square metre. The average cost of price of every square metre restricted 10 thousand branches 2006 1860 multivariate, soared 2007 reach about 3580 yuan, now year 1-6 month, 10 thousand divisions add land newly average cost already fell reach 2155 yuan. 10 thousand divisions let a raw material value with respect to city apparent more of market of press close to fluctuant, also more benefit at assuring 10 thousand divisions depreciate space. For example bubbling with noise " Song Shanhu incident " mentions Song Shanhu project piece inside the area, come nearly two years the plot of project of Great Wall old and well-known family that top floor price clinchs a deal for profound 2006 city, floor price is every square metre 3300 yuan, and the reference with this at present newest area clinchs a deal valence uses the land for a residence that clinched a deal in January 2008, floor price every square metre 1500 yuan, the price drops 55% . Yu Liang says, a lot of people think 10 thousand divisions depreciate is the problem because of capital catenary, this view is not accurate. "The likelihood does not search to give the 2nd Bimoke's richer development trader now. "   Xiao Li points out, 10 thousand divisions are holding to all the time dovish management strategy, in structure of whole and indebted rights and interests, rights and interests is in debt to be from beginning to end 30% the left and right sides, manage model be in debt to be about 18% , the bank is in debt to be now 26% , open to booking paragraph scale to occupy 24% , be in debt completely maintain about 37% . Additionally metaphase end has 15.4 billion yuan of ready money, 8, 5.9 billion yuan of debenture published 10 thousand sections September successful. "Metaphase of 10 thousand divisions manages the cash flow that the activity generates to be poured out of completely, reduce 1.49 billion yuan by 10.44 billion yuan of the beginning of the year, the asset dimensions of opposite Yumoke is more conservative also. " Xiao Li expresses, "Medium-term moment holds cash 15.4 billion, and future includes the short-term, loan that expire one year is 14.7 billion. So in other words, a minute of money does not lend bank of hypothesis next year 10 thousand divisions, we can return all ready money to the bank, and still have ready money of have more than needed, and had not included 5.9 billion debenture. " although 10 thousand divisions manage an activity to produce unripe cash to flow by June 2008,be - 1.49 billion yuan, but in the newspaper shows the company still has contract amount aggregate about 28.64 billion yuan already made work the area did not share close an account. And 10 thousand divisions announce area of its year start to be decreased by 8.48 million square metre attune in the newspaper in this year to 6.83 million square metre, cut 19% . Multinomial measure saves management sex cash to shed defray, cash of the end of the year of 10 thousand branches flows may " become a full member " . Since 2008, 10 thousand divisions add floor area of program of rights and interests newly 3.24 million square metre, among them, 76.2% get through cooperative means, average land cost 2044 yuan / square metre, far under 2007. "The ground collaboration proportion that 10 thousand divisions take is higher and higher, it is the ground of others normally, we are developed jointly, this is most the method of be economical. " Yu Liang expresses. Paerdi mode -- dimensions risk   is in the whole strategy of 10 thousand divisions, see Paerdi not hard (the shadow of PHM.NYSE) . The 2nd when 10 thousand divisions were Paerdi study surely in December 2003 " surveyor's pole " . Once was the Paerdi of business of development of the biggest estate created the United States successive profit record of 56 years. But crisis of sub 2007 debt makes Paerdi also suffers severe loss, the first time deficit that appeared 56 years to come first half of the year 2007, reach 508 million dollar, every deficit 2.01 dollars. The dominant position that Paerdi increases continuously originates its capital turnover rate. Capital turnover rate maintains Paerdi in the level of 1.2, this decided Paerdiben the profit pattern of the body namely efficient manage, through developing demand of more Lou Panman full profit, is not pursuit gets usury benefit on single item. But be in second in borrowing the crisis, paerdi is sufferred inflict heavy losses on. Its scale is larger, industrialization rate is higher, sell not the impact that flourishing makes its get is bigger. Hold to Paerdi the 10 thousand divisions of mode, encountered the risk that dimensions brings likewise. Department of bank of investment of the negotiable securities that enrol business a tall canal thinks, be in up in the economic environment of the trend, dimensions creates profit, and in the economic environment in trend of be issued to lower levels, dimensions is good risk. In light of cash flow meter, goods in stock increased Paerdi 2005 the capital that take up has 1.699 billion dollar only, dropped than the 2.057 billion dollar 2004 357 million dollar, dropped again compared to the same period 2006 547 million dollar. These circumstances make clear, paerdi has the prophetic vision of certain level truly. But even if is such, face industry decline that borrows the crisis to cause, american building clinchs a deal the quantity is exceeding and dispirited, extensive development product sells Paerdi to be afterwards hard, 2007 first half of the year Paerdi's sales revenue already acute is decreased 40.41% , profit drops 111.64% , the company must sell a large number of land, sell land first half of the year 132.3 million dollar, deficit 42.68 million dollar. Paerdi still prepares to be not worth to the market. The land reserve of the Paerdi when the crisis comes still is increasing. Land property is right the charge that the be a burden on of outstanding achievement behaved Paerdi to be concerned in Paerdi and land first half of the year 2007 is as high as 882 million dollar, and the deficit of the company does not spend 508 million dollar. Xiao Li expresses: Ignoranting approach divide evenly calls out  Ke?80 of sex of nose dam of ignoranting frequency of M of ⅰ of  of  of ≌ of swollen ㄗ ⒆ the project is in at the same time build, it is home in developing business most. 10 thousand divisions precede all the time in respect of asset have enough to meet need travel together at home: 2004-2007 year the total assets turnover rate of 10 thousand divisions is respectively: 0.59, 0.56, 0.51, 0.47; The net assets turnover rate of 10 thousand divisions is the corresponding period respectively: 1.39, 1.42, 1.4, 1.61. Appear when the market trade quantity considerably under atrophy, below the premise that assures reasonable profit, pursuit of 10 thousand divisions sells rate, capital of fast steam again becomes his of course anthology. Master be saleable the product of satisfy the need remains the outlet with dimensions best enterprise. Xiao Li expresses, this year first half of the year, in the house that 10 thousand divisions sell, the residence is occupied under 90 square metre 46% , this is old since the first time of small family residence holds so high sale proportion. And first buy course of study is occupied with what improve living buy trade first 72% , this is occupied make clear, stay in what buy course of study will make room city rigid demand to support main force oneself. Accordingly, 10 thousand divisions depreciate sales promotion, goods of rapid Qing Dynasty, will major energy is used at the development of small family residence, and the advantage that this respect also is 10 thousand divisions. Xiao Li says, "This year the cut part in half annals opens area of labour, complete, having is to need to undertake planning to design afresh partly greatly very, undertake immediateness the adjustment of market demand more to the product. " responsibility edits: King Chinese ink

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