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2021 is a year full of variables, for everyone in every industry, it will not be a year of self-indulgence and indifference, real estate after experiencing challenges, pains, transformations, self-redemption, "thunderstorms, defaults" has become the most dazzling keyword in the real estate industry.
Looking back at 2021, the thunderstorm of housing enterprises is like a string of firecrackers, one after another exploding.
Large-scale layoffs, salary cuts, financial defaults, compensation installments, etc., have never been seen and thought of before, and for many real estate people, it is the first time in their lives.
The real estate industry ushered in a downward cycle, many housing companies are on the verge of bankruptcy, there are really people laughing, some people crying!
It can be seen that the housing enterprises that stormed earlier have sorted out their debts and slowly come out of the haze; some of the housing enterprises in the thunderstorm are difficult to save themselves, some are lying flat silently, and some are bankrupt and reorganized.
To this day, the footsteps of housing enterprises have not stopped, and new housing enterprises have continuously joined the ranks of thunderstorms, thunderstorms, from "who is it" to "who else"?
Today, let's take everyone to a plate, those thunderstorm housing enterprises, how are they now?
Tahoe Group
Taihe, the earliest thunderstorm among large-scale housing enterprises, in 2020, Taihe's debt defaulted, tearing the tip of the iceberg of the capital pressure of high-leverage housing enterprises.
He wanted to introduce Vanke as a war investment, but in the end he did not succeed, and recently, the chairman and two financial executives of the company were also asked to assist in the investigation.
Two years have passed, and Taihe's debt crisis has not only not eased, but now it is even more turbulent.
Evergrande
Since June 2021, China's real estate has so far been the largest lei, with nearly 2 trillion yuan in debt, and after being interviewed by the central bank and the Banking and Insurance Regulatory Commission, the establishment of a risk mitigation committee was announced in early December last year.
More than four months have passed, and the progress given by evergrande's creditors' meeting is only one word: wait, and strive to launch a restructuring plan before July.
At present, Evergrande-related cases can be filed in local courts and are no longer transferred to the centralized jurisdiction of Guangzhong. For Evergrande, the core problem that needs to be solved is undoubtedly finding money and repaying debts.
Sunac China
Like Evergrande, the sales scale is huge and diversified, so it has the nickname of "Heng'er". Financing is limited, leverage is too high, and as soon as the sales go wrong, the game is over.
Debt default extension, project suspension, blocked by suppliers, since November 2021, Sunac's subordinate projects began to appear a large number of overdue refusal to pay commercial tickets.
Happy Huaxia
In January 2021, after the first debt default began, it was mired in debt quagmire, and after "stabbing" Ping An, the debt restructuring plan has been reviewed by the debt committee.
Debt default, overseas wealth management fund docking person missing contact, commercial ticket overdue, project suspension.
The road to debt servicing is still a long way off. However, the rain will always be sunny, the most difficult time has passed, and there is no problem that cannot be solved.
Yuzhou Group
In November 2021, due to financing difficulties, market deterioration and other factors, Yuzhou Group broke out of a liquidity crisis and pledged its headquarters building in Shenzhen to obtain a bank loan of 1.1 billion yuan.
In addition, on March 8, Yuzhou Group's debt thunderstorm, and the company's US$500 million 8.50% senior notes due in 2023 (2023 notes II) will be suspended.
Interest on the 8.5% senior notes due 2023 (stock code 05719) of $21.25 million is due and payable on February 4, 2022.
Yuzhou Group "broke its arm to survive" and implored all creditors not to act excessively.
Fantasia
In October 2021, the debt crisis was applied for a winding up petition.
Recently, it was revealed that guangdong min investment has joined hands to promote debt restructuring, and the existing debt scale has exceeded 52 billion yuan. Backstage is hard, and someone is willing to help clean up the mess, which is also good news.
Kaisa
In November 2012, debt defaults, employee financial storms, project shutdowns, rights protection continued, and the exchange offer and consent solicitation for 6.5% senior notes due in 2021 expired.
However, it has also recently ushered in its own "white warrior", and on March 30, Kaisa just announced the signing of a strategic cooperation agreement with the Fifth Bureau of China Railway to promote in-depth cooperation in urban renewal in the Greater Bay Area.
On April 5, Kaisa, China Merchants Shekou and China Great Wall Asset Management Co., Ltd. announced the signing of a strategic cooperation. China Merchants Shekou and Great Wall Assets will focus more on Kaisa's high-quality urban renewal reserve resources.
Kaisa used to have a nickname called the undead bird, the undead bird is really not dead, and it can be reborn in the fire.
Zhengrong Real Estate
In February 2022, it was rumored that Zhengrong's boss suddenly ran to the Shanghai headquarters to arrange a task to restructure all the dollar debt.
At the same time, the executives around the boss began to notify others, so there were various sell-offs of perpetual bonds, and the boss also asked the Hong Kong company to dump all the Zhengrong bonds in the self-operated market. The next day' stock price plunged 80%
Subsequently, it was revealed that its short-term debt due within one year was 20.34 billion yuan. One of the trickiest is dollar debt. At present, there are 16 unmature foreign bonds, with an existing scale of about US$4 billion, and the current debt of 200 billion yuan is at the top.
In order to save themselves, they have now begun to sell the equity of the project one after another.
Blu-ray development
Since July 2021, corporate bonds have been defaulted and have been suspended by the Association of Dealers for 18 months, and the accumulated amount of debt principal and interest that Blu-ray Development has failed to repay at maturity totals 31.343 billion yuan (including bank loans, trust loans, debt financing instruments and other debt forms).
Although the prototype of the risk mitigation plan was formed, since June last year, the Blu-ray development commercial ticket has begun to be overdue, and even today there is no official extension plan.
And that's just the tip of the iceberg....
The real estate companies that explode are far more than these, some have not been combed into, and some are on the verge of detonating.
Nowadays, the real estate industry has been reshuffled, and the redemption of problem housing enterprises will be a protracted tug-of-war, and it is impossible to rush it, and it is necessary to be prepared to fight a protracted war.
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