The lake is still there, sir is gone!
Who would have thought that the former top 100 housing enterprises had actually fallen to such a point...
The sea of commerce is floating and sinking, and it is self-financing.
Some enterprises can achieve a daily turnover of 20 billion, and some enterprises are heavily indebted and can only go bankrupt. The former is today's Maotai, and the latter is the former Huizhou top 100 housing enterprises - Guangyao Group.
After struggling for many years, Guangyao still failed to "shine the foundation and become famous all over the world" as the company's name implies, but left several rotten buildings and fell down, going bankrupt and public auction!
From its establishment to entering the top 100 housing enterprises, and then declaring bankruptcy due to the break of the capital chain, Guangyao took 20 years.
These 20 years, a glorious life, not long but ups and downs, wonderful but also sad.
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After four years of struggle, the former top 100 real estate enterprise Guangyao Group Co., Ltd. (hereinafter referred to as "Guangyao Group") failed to change its life against the sky, and finally went to the road of bankruptcy and public auction!
On the evening of February 9, the manager of Guangyao Group Co., Ltd. announced that it intends to auction some land plots and real estate and other bankruptcy estates of the long-lost "Fei Li Port" project at a total appraisal price of 399 million yuan.
According to the data, Fei Li Port is one of the luxury housing projects built by Guangyao Group in Huizhou, and there was a shutdown during the construction period due to problems such as the break of the capital chain;
In 2014, Huizhou Yuandong Group took over the Feili Port project, but since then there has been another suspension of work. Fei Li Port is a famous rotten tail building in Huizhou.
If the above-mentioned bankruptcy estate is successfully auctioned, "Fei Li Port" is expected to regain its life.
It is worth mentioning that this is the first time that the assets have been publicly auctioned online more than four months after Guangyao Group declared bankruptcy.
On September 26, 2021, after four years of struggle, Guangyao Group terminated the reorganization process and issued an announcement saying that it officially declared the group bankrupt;
According to the information, the Huizhou Intermediate People's Court issued a Civil Ruling on September 8, ruling to terminate the reorganization procedure of Guangyao Group and declare Guangyao Group bankrupt.
September was originally a good day for the traditional real estate market," but now, that bustle has become a "thing of the past."
In fact, as early as January this year, Yueyao Group issued a property auction notice, which showed that according to the procedure, it was planned to dispose of 17 bankruptcy estates under the name of Guangyao Group on the Ali Auction Bankruptcy Qiangqing Channel, with a total starting price of nearly 550 million yuan.
It is difficult to imagine that the top 100 housing enterprises in Guangdong at that time are now worth more than 500 million yuan in auction assets. The "most valuable" in it is actually a few Shenzhen office buildings...
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The shine is gone!
2022 is the 20th year of the establishment of Guangyao Group. Today, the assets are put on the auction table, which means that the former top 100 real estate companies that once developed and laid out a number of well-known real estate projects have come to an end.
Guangyao Real Estate, which was a high-week transformation real estate enterprise that made its peers afraid at that time, was known as the "King of Huizhou", and its expansion period was earlier than That of Country Garden and Evergrande.
For the Pearl River Delta media, Guangyao has always been a big player in project advertising, and its toughness and excellent marketing style and channel expansion ability, some of which can be called textbook-level, are still having an impact on the Greater Bay Area.
In the past 20 years of corporate history, Guangyao Group was once the top sales in Huizhou and the first real estate enterprise in Huizhou to go out of the local area.
However, because of the disorderly expansion that puts the capital chain under pressure, the "high turnover" model of Guangyao Group has not been effectively supported, and it is finally "thunder".
In this regard, some netizens borrowed its famous real estate "Mr. Lake" to sigh: "The lake is still there, Mr. is gone."
The former top 100 housing enterprises have officially withdrawn from the historical stage, and there is no glorious legend on the rivers and lakes since then.
According to public information, Guangyao Group was established in Huizhou in 2002, involved in construction, property, finance, education and other fields, but still takes real estate development as its main business, has developed projects such as "Guangyao Dutch Water Town" and "Mr. Guangyao City's Lake", and has been selected as "China's Top 100 Real Estate Enterprises".
In the early days of Chinese real estate, Both Guangyao Group and its founder, Guo Yaoming, were once a legend.
In 2002, Guangyao Real Estate was established, and Guo Yaoming at that time had not changed his name, called Guo Zanming, but this did not affect The fame of Guangyao.
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Perhaps Guo Yaoming himself did not expect that the company he created would fall so quickly.
In just 5 years, Guo Yaoming quickly built Guangyao Group into a leading real estate enterprise in Huizhou. From 2007 to 2013, Guangyao expanded rapidly, full of ambition, based on Huizhou, to the whole country;
In 2010, the sales amount of Guangyao Group reached 4 billion yuan, in 2011 Guangyao was rated as one of the top 100 real estate enterprises in China, and the sales amount reached 6 billion yuan in 2012, and during the brilliant period, it had a total of 29 real estate projects of various types in 12 cities such as Huizhou, Shenzhen, Tianjin, Weihai and Hong Kong, and was rated as one of the top 100 real estate enterprises in China for three consecutive years.
It is worth mentioning that in 2012, on the occasion of the tenth anniversary of its establishment, Guangyao Group also held the Miss World Model Contest. Beauty, wine, ambition... Under the brilliant lights, Guangyao Group and Guo Yaoming came to the peak moment.
Unfortunately, the glorious period of glory is accompanied by a "crisis"!
From 700 million sales in 2008 to 6 billion in 2012, the brilliance of The Glory is based on rapid expansion, and behind the crazy expansion, it is inseparable from the use of high leverage.
The unsteady foundation of the shine, by the performance of the blind, crazy growth, even reckless. After two restructuring and listing failures, Guangyao invested a lot of money, but the money was spent, and things were not done, resulting in the tightness of the capital chain.
When the listing failed, it began to lend, and the 1.5 billion yuan of private loans, accounting for one-third of the entire scale of Guangyao, made it worse. In 2014, Guangyao Group was exposed to problems in the capital chain, with total liabilities reaching 10 billion yuan, and then Guangyao began to be insolvent.
According to the third creditors' meeting of Guangyao Group, the total amount of bonds in the preferred creditor group and the ordinary creditor group alone has reached 16.986 billion yuan.
In the face of such a situation, Guangyao has not made no efforts, but the results are not satisfactory.
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At the beginning of the crisis, Guo Yaoming, chairman of Guangyao Group, publicly stated that the funding gap was 300-500 million yuan, and if money could be borrowed, it would ease up.
A mere 300 million to 500 million yuan is not a big money for a top 100 housing enterprise, but the data later exposed shows that the financial crisis of Guangyao Group at that time was far more serious than Guo Yaoming said.
According to media reports, as of May 2, 2018, more than 1,100 creditors of Guangyao Group had filed claims, totaling more than RMB21.2 billion.
In the end, Guangyao Group finally completely ended all imagination after experiencing multiple versions of restructuring rumors and the departure of its executives and teams.
For the real estate community, this bankruptcy is not unexpected.
Since the capital chain was broken in 2014, the operation of enterprises has stagnated, project disputes have continued, and the progress of restructuring has not been smooth, and Guangyao has long been on the verge of collapse, only bankruptcy in the legal sense.
In 2017, Guangyao Group formally filed for bankruptcy reorganization. Unfortunately, more than 4 years later, the Guangyao Group has not waited for its white knights.
On September 8, 2021, the Huizhou Intermediate People's Court rendered a ruling terminating the reorganization process of Guangyao Group and declaring Guangyao Group bankrupt.
Unexpectedly, this housing enterprise that once dominated Huizhou actually disappeared in the long river of history in such a form, which made people sigh.
It is worth noting that after The bankruptcy of Guangyao, its project of leaving a rotten building in Huizhou is still a thorny issue that the local government needs to deal with.
The company is bankrupt, where is the boss? According to the Southern Metropolis Daily, after the Guangyao thunderstorm, Guo Yaoming, chairman of Guangyao Group, has left Hong Kong so far.
In Tianyancha, Guo Yaoming was involved in more than 900 legal proceedings, the vast majority of which were commercial housing contract disputes and financial loan disputes.
It is worth noting that Guo Yaoming, who has traveled to Hong Kong, was rewarded with 1.6 million yuan by the Dongguan court last year to find clues. Although it is much worse than Li Zhaohui, the richest man in Shanxi who chased debts of 21 million yuan, the rotten real estate is still there, and the ambition of the year is still there, but the boss has not returned.
Recalling the crisis at the beginning of Guangyao, Guo Yaoming said in an interview with the media, "I am only in my 40s, still young, everything can start from scratch, and I can make a comeback." ”
Unfortunately, Guang Yao was not able to stand up again in the end, and the failed Guo Yaoming was also fleeing...
Resources:
"Guangyao bankruptcy road is long, Guo Yaoming struggled for four years", real estate K line
"Another well-known real estate company is bankrupt!" Borrowing from loan sharks, the boss is hiding in Hong Kong", viewpoint
"The former top 100 real estate enterprises declared bankruptcy for 4 months, and the starting price of 17 assets was 550 million yuan", Times Weekly
"Huizhou's first top 100 housing enterprise bankruptcy auction, Guangyao Group's 17 assets online auction! Southern Metropolis Daily
"In the past, the top 100 real estate enterprises Guangyao Group went bankrupt, and chairman Guo Yaoming once said that "if you can borrow money, it will ease up", Huaxia Real Estate