Another 100 real estate companies “collapse”, restructuring by the end of four years bankruptcy, founder was also under the “reward”

2022-06-24 0 By

By the end of January, 62 a-share real estate sector (by industry classification) listed companies announced 2021 performance forecasts.Of these, 21 expect year-on-year net profit growth in the reporting period, while 41 expect year-on-year net profit decline.And this is not a decline in performance in the general sense, but an across-the-board loss.CFLD has the largest pre-loss of 33.1 billion yuan to 39.1 billion yuan.Blu-ray, the biggest real estate enterprise in Sichuan, is expected to lose 12.037 billion yuan for the whole year, while Suncity Group is expected to lose 4.5 billion yuan to 5.8 billion yuan, down 185%-210% year-on-year.In addition, beautiful real estate 2021 net profit is expected to lose 2.5 to 3.6 billion yuan, Huayuan real estate net profit is expected to reduce 480 to 690 million yuan, World Bank net profit is expected to reduce 850 to 1.25 billion yuan, the real estate market is a howl.In fact, as early as 2020, the Ministry of Housing and Urban-Rural Development set three red lines for real estate.Under the constraints of the latest regulations, many real estate companies are in trouble because of their limited behavior.In 2020, more than 500 real estate companies declared bankruptcy, and by 2021, the situation is no better.According to statistics, in the first half of 2021, as many as 203 related enterprises declared bankruptcy, and the debt ratio of other real estate enterprises generally exceeded 80%.By August last year, a total of 260 real estate companies had filed bankruptcy documents, an average of one a day, and 42 of them declared bankruptcy in August alone.It seems that the real estate industry is no longer the “sunrise” industry.In this huge wave of real estate bankruptcies, another enterprise has filed for bankruptcy, but unlike other small enterprises, it used to be one of the top 100 real estate enterprises in China.On September 26, 2021, Glory Group declared bankruptcy.Once 100 housing enterprises why can go to today’s point?Guangyao Group was founded in 2002 in Huizhou, Guangdong province, and its main business is real estate development.With the expansion of the enterprise scale, but also involved in finance, building materials and property, and even environmental protection and other fields.This real estate company founded in Guangdong province has won the title of sales champion in Guangdong province and its brand awareness has always ranked first, relying on many famous projects, such as “Guangyao · Silver Eagle Garden” and “Guangyao · Dutch Water Town”.What made The company famous was the flagship celebrity villa, “Sir’s Lake”, which was transformed from a ruined building into a real estate whose advertising copy is still regarded as a benchmark in the industry.After making a name for itself in the industry, Guangyao set its sights on the country.Guangyao moved its headquarters to Shenzhen in 2009.In 2010, Guangyao Group’s sales reached 4 billion yuan.It is also rated as one of the top 10 real estate enterprises in Guangdong province in brand value and one of the top 100 Real estate enterprises in China.Through the rapid layout of guangzhou Pearl River Delta urban area, Guangyao Group has accumulated a large number of projects and land capital, and gradually has a presence in the Yangtze River Delta and Bohai Rim region.However, such a large and rapid expansion soon became a hidden danger for the company.In 2013, Guangyao Group was rejected by Shenzhen Bank for overdue loans and other dishonest records.By 2014, Guangyao Group’s capital chain was broken, and many of its real estate projects were forced to delay the delivery of houses due to serious shortage of project funds, and were in a state of suspension.In addition to overexpanding, Guangyao acquired Xendu hotel in 2011 and wanted to go public through a backdoor listing.Three years investment of 1 billion yuan but still failed.Later, Guangyao Group tried to go public through the mining reorganization and spent another 200 million yuan to buy mines, but the mining industry soon began to decline, leading to the failure of the second reorganization.After two failures, glory lost all of its investment.Since then, Guangyao group has started to borrow 1.5 billion yuan from the private sector, accounting for one third of the group’s financing scale. The interest alone is equal to the loan amount.As of June 30, 2016, Guangyao Group had total assets of about 6.4 billion yuan and total liabilities of about 7.97 billion yuan.Including the liabilities of 2.62 billion yuan provided for the guarantee of affiliated companies, Guangyao group’s total liabilities amounted to 10.59 billion yuan, which is in a state of insolvency.A total of 1,172 creditors reported 21.278 billion yuan to Guangyao at the time, when the total balance of all guangyao’s bank accounts was only 9,863.08 yuan.In 2017, Guangyao Group officially filed for bankruptcy reorganization.The founder, Kwok Yiu-ming, left for Hong Kong and has not returned since.In 2020, the Third People’s Court of Dongguan issued a “reward order” for information leading to Guo’s legal property, offering a maximum reward of 1.6 million yuan.Instead of coming back, Glory has gone into liquidation.On January 20, the manager of Guangyao Group announced the disposal of the bankrupt property of Guangyao Group.The administrator intends to dispose of 17 bankruptcy properties under Guangyao Group in Alibaba auction bankruptcy Qiangqing Channel.The 17 bankrupt properties, which are mainly located in Huizhou, guangyao’s hometown, have a total starting price of about 548 million yuan, including land and above-ground buildings, residential and commercial buildings, complex buildings, office space, shops, restaurants, shopping malls and parking Spaces.Among them, the highest starting price is located in Shenzhen Futian District Nuode Center six office rooms, estimated at about 100 million yuan.In a word, buying a house should be cautious.Nowadays, buying a house not only depends on the price and location, but also check out the business situation in advance.Once the real estate is purchased in advance, if the capital chain of the real estate enterprise breaks in the process of building construction, it is likely to lead to the emergence of unfinished buildings, and ultimately may lose all their money.