YOUNGOR Real Estate Is Losing 480 Million Or More Than Hangzhou.

If P is launched again this year, the price will not necessarily go higher, and there will be some risk. If it is launched again in two years, the price of the two land will be higher.

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Except for the two yuan which has just been returned from the Hangzhou market in the market of P, the margin of the total sale price of the two plots will be paid in addition to the 480 million yuan deposit in the market of Hangzhou.

The price of a high-profile snatch of "land king" is bloody.

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< p > Liu Xinyu, YOUNGOR's secretaries, said that the company is still carrying out proper land reserve, such as tracking Ningbo, Hangzhou, Shanghai, Suzhou and other cities that have already been stationed.

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< p > however, this is regarded as a signal of YOUNGOR's contraction in the real estate business front.

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< p > < strong > heavy losses < /strong > < /p >

< p > YOUNGOR may pay more than 480 million yuan. The announcement shows that if the total paction price of Shenhua block is lower than 80% of the total price of the original land, the company will make up the difference between the total price and the total amount of the land paction according to the agreement, which constitutes a contingent liability of the company.

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< p > that is to say, if the land is auctioned again, the price will be less than 80% of YOUNGOR's original land price, that is, 1 billion 936 million 800 thousand yuan, and YOUNGOR will have to make up the difference.

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Before P, the latest Shenhua plate auction appeared in August last year, when a land floor price reached 12028 yuan / square meter, compared with YOUNGOR Shenhua block, the price difference was obvious.

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< p > "these two lands have not yet been released for the time being. It is estimated that they will not enter the market too late."

A person from Hangzhou Land Bureau told the "First Financial Daily" that Shenhua plate had been constantly heating up, and "land withdrawal" would not affect the re sale.

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< p > December 2010, YOUNGOR estate launched a fierce battle to take two plots in Shenhua District of Hangzhou. The total price was 2 billion 421 million yuan, and the total land price of the two sites was 18114 yuan / square meter, which refreshed the record price of land sold in Hangzhou at that time.

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< p > but since the second half of last year, there has been news that YOUNGOR has the intention to retreat from the two land blocks of Shenhua plate.

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< p > not only that, but the general manager of Hangzhou YOUNGOR home also quietly changed last year. A person from YOUNGOR told reporters that the general manager who was in charge of the Hangzhou plot was pferred back to Ningbo.

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Shao Hongfeng, the successor to P, told reporters that he had not got the two land from the government.

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< p > > as for the reason of not getting the land, Hangzhou Land Bureau said that the two lands only paid part of the land fund, so it took so long.

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Until P returned to the ground, YOUNGOR paid a total of 1 billion 210 million yuan for the two lands, that is, half of the total price.

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< p > in fact, the two plots have completed the procedures of demolition and land leveling. The reason is that YOUNGOR has not paid the land completely.

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"P >" the company held the eighteenth session of the seventh board of directors on June 18, 2013 20, and agreed to authorize the management of the North Hangzhou Property Management Bureau to cancel the contract for the Shenhua block's pfer with the land and Resources Bureau of the city of Hangzhou. According to the "accounting standards for enterprises", the provision for assets impairment is 484 million 200 thousand yuan.

The announcement shows that the cost of the 480 million yuan is 20% of the land pfer fee.

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< p > this investment is a heavy loss.

YOUNGOR 2012 annual report shows that Suzhou YOUNGOR Real Estate Co., Ltd. in 2012, the net profit is also 430 million, "YOUNGOR has invested in this plot of manpower and material resources are relatively large, these invisible losses have not yet been calculated."

Insiders revealed.

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< p > < strong > the biggest failure in Hangzhou market < /strong > < /p >

< p > 2007, YOUNGOR estate officially entered the Hangzhou market.

In July 9th of that year, YOUNGOR real estate made a high-profile appearance in Hangzhou. After 90 rounds of bidding, it won 1 billion 476 million yuan high price for the Hangzhou Institute of Commerce land, 15712 yuan / square meter floor price, and achieved the title of YOUNGOR "Hangzhou king".

Shenhua block's retreat is the biggest failure of YOUNGOR in Hangzhou.

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< p > prior to this, there were many land retreat incidents in the land market of Hangzhou. Compared with the YOUNGOR Shenhua block, the land retreat case of Da Yuan real estate was similar.

At the end of 2003, Tai Yuan Real Estate bid for four yuan of Hangzhou's Qianjiang New Town and Binjiang new town with a high price of 2 billion 534 million yuan.

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< p > at that time, the relevant regulations for land withdrawal were that the price of the reassignment was lower than the competitive price, and the compensation should be paid according to the actual balance.

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< p > this land, numbered 23, was bought at the price of 2554 yuan / square meter by the real estate of Tai Yuan. "Because Tai Yuan estate is unable to pay the land fund, it is recovered."

According to people familiar with the matter, in 2004, the land numbered No. 34 appeared again in the land market, but there was no deal.

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< p > until March 2005, the land was finally delisted by the price of 940 million yuan and the floor price of 3885 yuan per square meter. The price of the land was not lower than that of their bidding.

Ill luck is that the subsequent emergence of Fung Holdings will use this land for employees to raise funds to build houses by the relevant government departments to stop the incident.

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The price will not necessarily be lower after P.

In June 19th this year, the "Xianlin king" of Nanjing, which was once retreated, was first divided and sold for three and a half years. It was sold as part of the G25 plot. Finally, it was captured by the gold group at a total price of 2 billion 870 million yuan, and was promoted to the new Nanjing in the year.

The land was retreated in 2009 and was confiscated at HK $245 million.

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< p > "if it is introduced again this year, the price will not necessarily go higher, there will be some risk. If we launch it again in two years, the price of the two land will be higher."

A Hangzhou developer told reporters that the only way to marry the land king is to push it out two years later.

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< p > data show that as of May 31, 2013, YOUNGOR has realized the pre-sale area of more than 249 thousand and 800 square meters, and the pre-sale amount exceeded 6 billion 10 million yuan, an increase of 92.44% over the same period last year.

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At the same time, YOUNGOR launched six times in the Ningbo market this year. In the past May, it took four projects in Ningbo in one fell swoop, and invested 1 billion 910 million yuan in the land market.

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< p > YOUNGOR's contraction in real estate business is still limited to markets outside Ningbo.

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