Yang Huiyan, Chairman of the Board of Directors of Country Garden: It is expected to deliver more than 480,000 sets this year, and the family will share the fate with the company

On January 15, Country Garden held its annual annual work meeting, which was attended by Yang Huiyan, Chairman of the Board of Directors of the Group, and Mo Bin, President of the Group.

Yang Huiyan emphasized that the Group's key work in 2024 will still be to ensure delivery, operation and credit, and Country Garden is expected to deliver more than 480,000 units in 2024. At the same time, it was revealed at the meeting that at present, the company's 9 domestic bonds have been successfully extended, and overseas debt management measures are also progressing in an orderly manner.

Yang Huiyan also said, "The family will definitely share the fate with the company, and will work hard for the development of the company wholeheartedly and sincerely, and is currently trying its best to revitalize assets." At the meeting, she once again shared "My Dream Country Garden" written by Yang Guoqiang, the founder of the group, and said, "Although the company is facing difficulties now, the dream Country Garden has never changed."

"Guaranteed delivery is the premise of survival"

Judging from the content of the meeting, Country Garden's key work in 2024 is still to ensure delivery, operation and credit, of which guaranteed delivery is still the "bottom line that Country Garden must firmly keep".

Yang Huiyan said at the meeting, "In the process of ensuring delivery and optimizing operations, we will strive to maintain credit and do a good job in communication and arrangement with all relevant parties, so that the company can repair its balance sheet in an orderly manner in the process of ensuring delivery." She said that in 2024, the company is expected to deliver more than 480,000 sets, which is still a sky-high delivery task, and the company must be fully prepared in terms of funds, resources and personal status.

Mo Bin also talked about guaranteed delivery at the meeting, saying, "Guaranteed delivery is what we should do, and now it has become the bottom line requirement of politics and the premise of enterprise survival." "Based on self-help, extreme management, and handing over each suite to our owners is our conscience. As long as we handle the project, it is the mission of each of us to ensure delivery.

According to the data provided by Country Garden, in 2023, Country Garden will deliver more than 600,000 houses, with a cumulative delivery area of 71.62 million square meters, involving 249 cities in 31 provinces. The 600,000 units did not meet Country Garden's expectations in the middle of last year, and the company originally expected to deliver nearly 700,000 homes for the full year of 2023. However, Country Garden cited third-party statistics to point out that the company's annual housing delivery volume once again ranked first in the industry, and was close to the sum of the second and third place deliveries.

The 2024 target of 480,000 units is not easy, and Country Garden describes this goal as "a delivery challenge into deep water". Yang Huiyan said, "Our perfect management mechanism, excellent corporate culture, stable and united team, and also have the support and recognition of the government, all of which will support us to do a good job in this year's delivery." ”

Overseas debt management measures are progressing in an orderly manner

In terms of business protection, Country Garden expects that the market will still hover at a low level in 2024, and the differentiation of urban sales performance will intensify. In order to respond to market changes, Country Garden has made orderly adjustments to the company's structure in 2023 to maintain the stability of the core team.

Yang Huiyan said that for the positioning of real estate and the development of real estate in the future, policies such as the "new housing reform plan" have given very clear requirements. Real estate returns to residential attributes, and Country Garden should do a good job in its own strategic planning, select and make good use of excellent teams, so that the team will become more and more effective and cohesive.

Mo Bin said that without sales, there would be no hematopoiesis. During the policy window period, we should keep up with the general trend of the policy, seize the opportunity to obtain support, and at the same time strictly adhere to the bottom line of delivery, do a good job in stock and incremental sales, and constantly restore the hematopoietic function of the enterprise.

In terms of credit assurance, it was revealed at the meeting that in the face of unprecedented difficulties, Country Garden is also actively taking measures to save itself, open sources and reduce expenditure, reduce costs and increase efficiency, strive to promote sales, revitalize assets, actively expand financing channels, and promote debt restructuring.

At the same time, the company is steadily promoting the new business of science and technology construction and escrow construction, among which in terms of escrow and construction, as of the end of 2023, Country Garden Construction Management (Phoenix Zhituo) has added a total of 30 new construction projects, with a sales value of about 24.4 billion yuan, covering 20 cities across the country.

"The market can't go up forever, it can't go down forever, the market is always there. Mo Bin expressed encouragement at the meeting, saying that the challenges faced by the company this year may be more severe than imagined, and everyone should respond calmly. Firm confidence, unity, there is no insurmountable difficulty.

"The family must share the fate of the company"

In fact, in addition to "ensuring delivery, operation and credit" on the surface, "ensuring team cohesion" may be an important dark line for this annual work conference.

In this meeting, "team" is a high-frequency word for Yang Huiyan. Talking about the delivery of guarantees, Yang Huiyan said that factors such as excellent corporate culture and stable and united team will support us to do a good job in this year's delivery work;

Previously, Mo Bin had introduced a series of measures to share weal and woe with the company in his New Year's message: the controlling shareholder has never reduced its stock holdings, and supported the group's operation by borrowing, increasing its stock holdings, and purchasing bonds; in order to alleviate the pressure of survival, it has reduced non-operating expenses, reduced some employee benefits, significantly reduced the salaries of group executives, and returned cash from administrative assets, including buses, through auction.

At the meeting, Yang Huiyan once again mentioned "My Dream Country Garden" and said, "Although the company is facing difficulties now, the dream Country Garden has never changed. She said that the family will definitely share the fate with the company, will work wholeheartedly and sincerely for the development of the company, and is currently trying its best to revitalize assets.

"The Country Garden of My Dreams" is a twelve-sentence sentence written by Yang Guoqiang, the founder of Country Garden, ten years ago, about the corporate values that Yang Guoqiang hopes to establish.

In April 2023, Yang Huiyan, the new chairman of the board of directors, shared this article "Country Garden of My Dreams" at the first monthly management meeting of the group after taking office. Yang Huiyan said at the time: "These 12 sentences can best interpret my ideal Country Garden: the first four sentences explain the positioning of the enterprise, reflect the relationship between the enterprise and colleagues, which is full of love and recognition, the middle four sentences clearly describe the way of business of the enterprise, and the last four sentences are the original intention and social responsibility of the enterprise." ”

Editor-in-charge: Zhang Qianyao

Proofreading: Zhu Tianting