1
The pace of real estate companies going public is accelerating
60% of the TOP200 real estate companies are listed
A few days ago, Xiangsheng Holdings launched its IPO process and announced the issuance of 600 million shares, with the maximum net raised amount being HK$3.72 billion. It is expected to be launched today (November 18). It is understood that Xiangsheng Holdings’ revenue in 2017, 2018 and 2019 was 6.293 billion yuan, 14.215 billion yuan and 35.52 billion yuan respectively.
Shangkun Real Estate Group launched its IPO on October 31, with a basic issuance size of 500 million shares and a maximum raised amount of 1.438 billion Hong Kong dollars, listed in Hong Kong on November 17. It is reported that Shangkun Real Estate’s operating income in the first four months of 2020 was 1.149 billion yuan, which was basically the same as the same period last year. Both gross profit and net profit attributable to the parent increased compared with the same period last year.
Jianfa Real Estate GroupThe fifth phase of directional debt financing instruments in 2020 has been traded in the bond market, with an issuance amount of 1 billion Yuan, the listing date is November 16, 2020.
On November 16, Zhongliang Real Estate Group’s Great Wall Jiaxin-Zhongliang Real Estate Purchase Final Payment Asset Support Special Plan was officially launched in Shenzhen The total issuance size of the listed companies is 340 million.
In early November, Jinhui Holdings (Group) closed at HK$4.48 per share, completing its first full trading week after listing. .
In addition, Rongxin Services, a subsidiary of Rongxin Group, also officially submitted a prospectus to the Hong Kong Stock Exchange...
ItemCurrently, there are 8 real estate companies waiting for IPO on the Hong Kong Stock Exchange, including Helenbergh, Oshan Holdings, Vanchuang International, Sanxun Holdings, Datang Real Estate, Pengrun Holdings, Territory Holdings, and Shidi Real Estate.
CRIC statistics show that among the top 200 real estate companies in the mainland, the number of listed real estate companies accounts for about 60%. Judging from the listing status of real estate companies of various sizes, the number of listed real estate companies ranked within the TOP50 is the largest, accounting for more than 90%. It is worth noting that after the listing of Zhongliang Real Estate, all the top 30 real estate companies have basically been listed. The number of listings of real estate companies ranked in TOP51-100 accounts for about 58%; the listing rate of real estate companies ranked in TOP101-200 also exceeds 40%.
As a capital-intensive industry, the real estate industry has huge demand for funds. As competition in the industry continues to increase, acquisitions and mergers have become the norm. In this context, most real estate companies have to rely on the support of capital platforms to maintain further expansion.
Yan Yuejin, Research Director of the Think Tank Center of E-House Research Institute, said that the tightening of industry financing that has lasted for nearly two years, the sudden outbreak of the new crown pneumonia epidemic this year, the suspension of sales collections for more than two months, and the disruption of domestic and overseas financing The pace, the pressure of maturing debt... Every hurdle is difficult for small and medium-sized real estate companies with a single layout and not yet listed on the market. Changes in the external environment are difficult to overcome. These small and medium-sized real estate companies are forced to seize the "life-saving channel" of listing as a capital transfusion as soon as possible.
Today's real estate companies are in urgent need of capital infusion, and the road ahead for the construction and ceramics industry is equally bumpy and uncertain. Against the background of the popularity of finely decorated houses, the stickiness of cooperation between construction and ceramics companies and real estate companies is increasing year by year, and centralized engineering procurement has become an indispensable sales channel for most companies. As real estate companies accelerate the pace of listing, will construction and ceramics companies be involved in this capital game? Is this good or bad for the development of the ceramics industry? This series of issues will take time to verify.
2
Slowing down from “purchase and sale restrictions”
To guide "housing consumption"
From October 26th to 29th, the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China reviewed and approved the "Regulations on the System of the Central Committee of the Communist Party of China""Recommendations on establishing the 14th Five-Year Plan for National Economic and Social Development and the Long-term Goals for 2035", proposing to adhere to "Houses are for living, not for speculation"We implement city-specific policies, insist on promoting both rental and purchase, comprehensively promote rural revitalization, promote coordinated regional development and new urbanization, promote the healthy development of housing consumption< /strong> and other important discussions.
On October 9, Shaoxing City, Zhejiang Province issued the "Notice on Further Promoting the Smooth Operation of the Real Estate Market". The notice involves "limiting land prices and matching construction", registration price control of new commercial housing, and pre-sale applications must be submitted within ten days at a time Disclosure of property prices and other aspects.
On October 10, Xuzhou City, Jiangsu Province issued the "Notice on Further Promoting the Stable and Healthy Development of the Urban Real Estate Market". The notice involves prioritizing the provision of residential land for immediate needs, continuing to adhere to restrictions on commercial housing transactions, and strengthening commercial housing sales record management. aspect content.
On October 30, Quzhou City, Zhejiang Province issued the "Notice on Further Promoting the Stable and Healthy Development of the Urban Real Estate Market". The notice involves optimizing the land supply structure, adopting "price limit + land price limit + competitive construction", control Pre-sale of commercial housing in installments and other aspects.
According to statistics from the Centaline Real Estate Research Center, in the month of October, there were 22 real estate regulatory controls nationwide, and from January to October, the number of national real estate regulatory policies was as high as 425. Although local regulation continued to tighten overall in October, the intensity of regulation was significantly lower than in the previous two months. From the perspective of regulatory content, cities have slowed down in joining the "wave of purchase and sale restrictions", and loose policies still focus on talent introduction and relaxed settlement.
In November, the real estate policies issued by various cities focused mostly on guiding "housing consumption." It is worth noting that the "housing consumption" here is not simply residential consumption, but residential consumption, which is consistent with "promoting the healthy development of housing consumption" in the "14th Five-Year Plan".
On November 12, the Planning and Construction Bureau of Zhangzhou Development Zone of Fujian Province jointly held a meeting with the Propaganda Department (Culture and Tourism Development Bureau)Some real estate companies mentioned at the symposium policies to support college students' home purchases and the need for real estate companies to increase their confidence.
On the morning of November 16, the Linyi Municipal Government Information Office held a press conference on real estate market regulation and introduced the recently implemented "double restrictions and one competition" regulatory policy. This policy limits the maximum land price and house price at the time of transfer, avoids abnormal fluctuations in house prices and land prices, prevents the emergence of land kings and building kings, and solves the source of the problem of excessively rapid rise in housing prices and shortage of housing in some hot areas.
On November 17, Xi'an issued the "Notice on Issuing the Implementation Plan for the Xi'an Housing Leasing Pilot Work". The plan clarifies supply based on demand, mentions "rent before buying", stabilizes housing rental levels, and emphasizes urban integration.
It can be seen that guiding "housing consumption" does not mean encouraging investment home purchases, nor is it just home purchase consumption. It also includes a wider range of consumer needs such as rental housing, decoration and renovation, quality improvement, and service improvement. The upstream and downstream links multiple industries such as home furnishing, building materials, home decoration, health care, and property management. The purpose of "housing is for living, not for speculation" is to weaken its investment attribute and allow real estate to truly return to its residential attribute. It can be said that "one child falls and the whole is revitalized", and the market opportunities it brings to the construction and ceramics industry are also self-evident. .
3
Golden Nine and Silver Ten ended smoothly
The existing market is still promising
On November 16, the National Bureau of Statistics released the "National Real Estate Development Investment and Sales from January to October 2020", The sales area of commercial housing nationwide in October was 162 million flat, with sales amounting to 1.6 trillion yuan, a year-on-year increase of 15.3% and 23.9% respectively, and the growth rate expanded rapidly. In October, the national real estate development investment amount was 1.31 trillion yuan, a year-on-year increase of 12.7%; the year-on-year growth rate of newly started construction area during the same period expanded to 3.5%, slightly exceeding expectations; the fourth quarter is expected to enter the completion season, and the completed area in October alone is An increase of 5.9% over the same period.
With the newly delivered properties, will there be a market for retail building materials merchants? This is not necessarily the case.
As we all know, among the newly delivered properties in most second-tier cities and above, the proportion of rough houses is getting smaller and smaller. Instead of focusing on newly delivered properties in the fourth quarter, it is better to explore the existing second-hand housing market first. According to data released by "I Love My Home" on November 14, Beijing's second-hand housing transaction volume reached 14,300 units in October this year, a year-on-year increase of 62%. In addition to the 17,300 units sold in September, Created the most popular "Golden Nine and Silver Ten" in the past four years.
China Ceramics Network reporters reviewed the cities visited by the previous "National Tile Market Survey" and found that the second-hand housing stock market is still promising. Statistics from relevant agencies in September show that the number of second-hand houses for sale in Nanjing exceeds 100,000; statistics in October show that the inventory of second-hand houses for sale in Suzhou exceeds 100,000, and the number of second-hand houses for sale in Xiamen is 31,000 There are about 30,000 second-hand houses for sale in Guiyang; November statistics show that the inventory of second-hand houses for sale in Yantai is floating around 44,000 units...
The inventory of second-hand houses for sale may seem disheartening to real estate speculators, but it is a market to be tapped for the building and ceramics industry. Whether it is used as an improvement housing or a second home purchase, once these houses are traded, there will be a certain demand for decoration. It is not an exaggeration to compare it to a "potential market."
Due to the uncertain delivery time and scattered scope, the potential cake of "second-hand houses" is not easy to nibble. If ceramic tile dealers want to enter this market, it is no longer realistic to wait for customers to come to the store. Ceramic tile sales personnel should have professional skills such as market development and customer gathering. Ceramic tile stores lack tactics in terms of actual terminal operations. Ceramic tile brand headquarters need to strengthen training on terminal sales professionalism and empower multi-channel expansion.
If you want to know the latest situation of the terminal market, please pay attention to the "National Tile Market Survey" of China Ceramics Network.
Author: Hong Xiaochun
