preface
The real estate industry has really attracted a wave of people's attention, before people paid more attention to the head of real estate companies like Evergrande and Country Garden, and now people have begun to pay attention to other famous or unnamed enterprises. Of course, after people fully understand it, they also see the scale of debt behind these enterprises, such as Evergrande's debt of 1.97 trillion yuan, and Zhongtian Financial's debt of 133.7 billion yuan.
For example, zhongtian financial, perhaps the founder Luo Yuping himself did not realize that the company had developed to this situation. At present, Zhongtian Financial has been unable to return to the sky, a large number of debts can not be repaid, and if you want to obtain cash flow, you can only sell its products. In this regard, Luo Yuping: Once sitting on 9.5 billion assets, the company now owes 133.7 billion yuan of debt and is difficult to repay, how should he deal with it? So what's going on behind the scenes?
In 1966, Luo Yuping was born in Guizhou, his academic performance was relatively excellent, and he was also admitted to the university, at that time, the gold content of the university diploma was much higher than now, and the work was assigned by package, so Luo Yuping naturally also got a very stable job. In 1992, the atmosphere of going to the sea swept through China, and Luo Yuping felt that he should seize this opportunity, so he quit his iron rice bowl job and chose to join the business sea, taking the savings he had accumulated over the years to enter the real estate industry.
In 2005, he single-handedly founded Jinshiqi International Company, the main business is also real estate, at this time the domestic real estate has not yet developed, so Luo Yuping has enough time and energy to hoard land. Two years later, his value successfully soared to 9.5 billion, and he also became a well-known rich man in Guizhou, and his restructured Zhongtian City Investment also changed its name to Zhongtian Financial. At this time, he had another nickname, named Luo Bancheng, which was derived from the fact that the wealth he possessed could almost buy half the city of Guizhou.
Many people are full of prejudice against this place in Guizhou, thinking that it is very remote and relatively poor, who could have imagined that such a rich man would appear? Later, the domestic real estate industry ushered in the peak of development, and in 2008 alone, Luo Yuping got a profit of 880 million. People in other regions may not know much about Zhongtian Financial, but it doesn't affect the company's ability to make money.
After making a lot of profits from real estate, Luo Yuping began to think about the problem of transformation, he felt that the boom in the real estate industry may exist, but it will definitely not exist for a long time, so Zhongtian Financial must do other aspects of business. In this way, a series of sectors such as insurance, banking, securities, and funds have entered Luo Yuping's mind. In addition to diversifying the company's business, this approach can also continue to support the main business of real estate.
However, Luo Yuping, who is having a smooth ride in the real estate industry, would not have expected that he would encounter various problems in the process of diversified business development. In 2016, the company acquired a 51% stake in Zhongrong Life. Listening to the name, we know that we are mainly engaged in the business of insurance, but what we did not expect was that this acquisition had laid the foundation of the bane.
It is understood that the profit of Zhongrong Life in three years adds up to 120 million, and the net profit in 2020 is only about 140 billion, which means that Zhongtian Financial has lost a full 2.2 billion yuan in this newly acquired company. The reason why this acquisition case failed is because not only did it not bring much contribution to Zhongtian Financial, but it also caused the company's capital flow to be depleted, and the hidden dangers seemed to be buried from here.
In 2021, the state began to regulate the real estate market, and the first to be affected was Evergrande, which is the largest housing enterprise in China. In fact, the most fundamental reason why Evergrande is in trouble is also that there are cash flow problems, and there is no way to borrow from the bank. After Evergrande, the biggest impact is those real estate companies that have adopted crazy expansion business, and Zhongtian Financial is naturally difficult to avoid this disaster.
From the current situation, the risks faced by Zhongtian Financial seem to be more obvious than those of other housing enterprises. According to relevant data, the company now relies on the real estate business to cash out about 18 billion yuan, which may be a lot of money, but it does not have much effect in the face of huge debts. You know, the major real estate companies are first borrowed money from the bank, and then take this money to build a house, if the money is not enough, then in the name of off-the-plan housing from the hands of the people. All in all, they are unlikely to pay out of their own pockets when they build houses.
Now that there are so many debts, if you want to go to the bank to borrow money to alleviate the crisis, it will be difficult, and nearly 120 lenders who have borrowed money from Zhongtian Financial before are very worried, and they don't know whether this money can be returned. With such a huge debt, Luo Yuping's attempt to save it was not as simple as imagined. At this time, he seemed to remember the crooked road, violating the contract and relevant regulations, which naturally made people express dissatisfaction, so the government department began to interview, which made the situation of Zhongtian Financial worse, and Luo Yuping's value shrank significantly.
The real estate market at the beginning was extremely flat, and then experienced a stage of prosperity and then today's slow cooling, and witnessed the rise and fall of many housing enterprises in more than 20 years. The concept of housing and not speculation currently advocated by the state is definitely not a paper talk, but a policy that must be implemented in practice. Therefore, the future real estate market will develop in a more rational direction, so major housing companies also need to be prepared in advance.
epilogue
From the richest man in Guizhou, whom everyone envies, to an entrepreneur whose value has shrunk significantly, everything Luo Yuping has experienced seems to have aroused people's vigilance. In fact, for entrepreneurs from all walks of life, it may be the same truth, and it is the most reliable thing to do business in peace and stability. Do not blindly set foot in the financial industry, no experience and no strength may just become a leek that has been snuffed out.
Today's topic: Another real estate predator fell, carrying 133.7 billion yuan of debt, making 120 lending institutions sleepless at night