Where does Hefei Zhenro go from here?
Real estate event!Zenro shares plunged today!On the afternoon of February 11, the share prices of Zhenro Real Estate and Zhenro Services suddenly began to fall off a cliff. Zhenro Real Estate fell 81.42%, which once triggered the market adjustment cooling period mechanism.Zhenro service drop is as high as an astonishing 87.29%!Although after the flash collapse, zhenro’s two stocks have a small recovery.But from the performance of the market that day, the company’s market value has shrunk in a large scale is indisputable fact.Industry speculation, stock prices fell behind the suspected and a rumor about.On January 4, Zhenro announced that it would redeem a perpetual debt of us $200 million on March 5, 2022.On Feb. 10, the perpetual bond plunged 30 points.On February 11, rumors surfaced that The company was cash-strapped and could not redeem the perpetual bonds as planned, and that its offshore bonds would be restructured.In view of the above rumors, Zhenro Real estate immediately denied, and said that the company will redeem $200 million of perpetual debt as planned.In addition, Zhenro real estate believes that there may be malicious short-selling institutions to buy again today, the company is further understanding of the reason for the decline in stock prices.No. 1 | one to start up the hefei is glorious, according to the media earlier is rong real estate short-term liabilities due within 1 year 20.34 billion yuan.Up to now, There are 16 outstanding overseas bonds of US $3.95 billion, half of which will mature within one year.Against this backdrop, Zhenro began to sell its stake in the project in January.January 30, Xiamen Zhenrong transferred 49% equity of Xiamen Ronglu Real Estate Co., LTD., ping an Trust Co., LTD took over.On February 9, Anhui Zhengrong Real Estate Development Co., Ltd. changed its foreign investment and removed its investment in Hefei Bingrong Real Estate Co., LTD.And before that, some city companies have opened strategic contraction.As the sub-central city of the Yangtze River Delta urban agglomeration, Hefei has entered the fast track of urban transformation in recent years, which has attracted many brand real estate enterprises such as Longhu, Weixing, Land and Wenyi to re-warehouse layout in succession. According to incomplete statistics, in 2021, these four real estate enterprises alone won a total of 17 land.By contrast, Zhenro is much more low-key.In 2019, Hefei Zhenrong successively won 4 pieces of land in the local auction market, becoming the company’s only highlight moment.Since then, the pace of zhenro’s growth has stalled as fast as the eye can see.At the press conference in May 2019, Hefei Zhenro won 4 homestead sites in total, just like a sudden “sudden brake”.In 2020 and 2021, Zhenro suddenly fell silent in the land auction market and did not win a single homestead.Since then, Zhenro has turned to the asset-light “joint development” model again, instead of the sole proprietorship model in 2019.Zhengrong Rising Sun Government affairs future and mediateK Zhengrong Binhua Listening Lake, which is being distributed and promoted on the Internet, are representative works of this stage.In the industry, from the multi-point blossom in 2019 to the “dragonfly” after 2020, Hefei Zhenro’s 180-degree strategic change is really unexpected.No. 2 | two failed to reach the expected cash “bamboo rod straw shoe light horse” brand.Apart from the shift to “getting off the bus and going slow” on the strategic path, The quality of zhenro’s delivery of existing projects has also failed to surprise the market.As we all know, Zhenrong House is one of the three major product brands of Zhenrong House, among which the representative one is Shanghai Hongqiao Zhenrong House, which was awarded the “Top ten Famous Seiko House in Asia” by Hurun Rich in 2005.However, when the first Zhenrong Mansion in Hefei was delivered in 2021, the actual effect of the project failed to reach the unanimous expectation of the owners.In the owners of a number of complaints, “green substandard”, “hardcover change surprise outfit” and other keywords once became high-frequency words.Zhenrong’s performance in business also makes owners complain.It is understood that the project is a commercial accessory project of Zhengrong Yueyu Hui in the new station area. According to several zhengrong owners, zhengrong Commercial originally promised to complete the building together with the residential part, that is, around May 2020.But it has never been delivered.After repeatedly sending a letter of inquiry after owner, zheng Rong finally gave the exact message.According to hefei New Station High-tech Industrial Development Zone, the construction project planning permit and construction permit procedures of Zhengrong Yue Duhui commercial land have been completed and are currently under construction. “The construction unit plans to complete the construction on May 31, 2022, and the full shop will be opened on May 1, 2023.”More than two years behind schedule, that’s a bit of a stretch.It can be seen that both the residential and commercial modules of Zhenro failed to match the brand strength of its “hundred-billion-dollar real estate enterprise” — compared with Longfor, Weixing and Land, Zhenro can be said to be fully behind one position.Write last: According to internal information, hefei a new round of centralized land supply announcement is expected to be released around the end of this month.This for hefei housing enterprises, means that the New Year’s competitive opportunities are beginning.Hefei Zhenrong, is going to start again or continue to hibernate?This decision, may not be hefei Zhenrong to do.All depends on March 5th, when the conglomerate quietly calls on its $200m perpetual debt.I wish good.Part of the information source: Fish wo Finance