The chairman of Poly Development made a smooth transition, and Song Guangju handed over the baton to Liu Ping

Who is Song Guangju's successor? The question has been a mystery for the past two years, and now the mystery is revealed.

Poly Development announced on July 30 that in accordance with the relevant regulations of the State-owned Assets Supervision and Administration Commission of the State Council on cadre management, it was agreed that Ms. Song Guangju resigned as the chairman and director of the company due to her age. At the same time, Liu Ping was elected as the chairman of the company.

In the eyes of industry insiders, Liu Ping's baton is not surprising, and Poly's development has achieved a smooth transition.

Compared with Li Binhai and Song Guangju, two entrepreneurial chairmen, Liu Ping, who came from a financial background, is a prudent faction. After taking over as general manager in December 2016, Liu Ping has led many internal changes within Poly, including major adjustments in operation and personnel, which has also made Liu Ping a seed player to take over song Guangju.

Steady, but also Poly's advantage at the moment.

By the end of 2020, among the top 5 housing enterprises, Poly is the only green-file housing enterprise. As of the end of the period, Poly cash and cash equivalents balance was 145.28 billion yuan, with sufficient cash flow. This is more possibility for Poly to win in the downward cycle of the entire real estate industry.

Since last year, Poly has been "taking land against the market". After the epidemic last year, the land market rebounded in retaliation, and Poly rushed to the forefront of the team of housing enterprises grabbing land.

In 2020, poly land acquisition amounted to 235.3 billion yuan, up 51.35% year-on-year, and the premium rate was 13%, lower than the average premium rate of the industry. In the 2020 list of real estate enterprises obtained by the Middle Finger Research Institute, Poly ranked first with a value of 509.8 billion goods.

In the statistical list released by the China Finger Institute in the first six months of this year, Vanke, Poly Development and C&D Real Estate ranked in the top three in the list of land amounts, while Country Garden, Vanke and Poly Development occupied the top three in the list of land area.

This strength will continue. At the shareholders' meeting at the end of June, Liu Ping said that the total direct investment in real estate and related industries in the Poly Development Plan in 2021 will reach 395 billion yuan, an increase of 17.9% over the amount raised in 2020.

This has made investors have more expectations for Liu Ping's baton. Before Song Guangju retired, she always had an unfulfilled dream, "returning to the top three".

The "three red lines" will be an opportunity for Poly to "return to the top three".

Liu Ping recently said, "Under the three red lines, the driving force for the growth of housing enterprises will be driven by resources and leverage to be professionally driven, and the industry ranking will be reshuffled according to the professional capabilities of housing enterprises." ”

He believes that enterprises with stable operation have more advantages, and the concentration of the industry has further increased. With the narrowing of the industry's profit margins, housing enterprises with insufficient professional capabilities and tight funds will gradually withdraw. Housing enterprises with stable operation and strong professional ability gather more land resources and capital resources, which is easier to become bigger and stronger.

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