介绍:
Guangzhou-based Evergrande Group, the country&`&s second-biggest property developer by floor area, is now offering full and unconditional refunds, prior to delivery of homes, to homebuyers in a bid to boost weak sales. Having started on April 16, the policy comes a month after it announced a 45 percent discount for its retail shopping properties and parking spaces.
Taken at face value, the company seems to be doing well. Evergrande&`&s 2014 annual report showed it had sales revenue of 131.5 billion yuan and its total assets came to 474.5 billion yuan. It has also said it had 305 property projects scattered in 147 cities across China. However, 276 out of these 305 projects are in small cities, where housing sales have been slowing down for a while.
Evergrande&`&s slowing sales reflect a general slowdown in the property industry as a whole. As of February, the total area of new homes available on the market stood at 640 million square meters. The average inventory of developers has risen to a record high.
The company&`&s efforts to diversify its business away from the property sector, with businesses in sport and film making among others, have not been successful. Last year, its non-property enterprises reported a combined loss of 3.1 billion yuan including 2.4 billion yuan from a newly-launched mineral water business. As a result, Evergrande has become one of the country&`&s most indebted developers. Its total debt reached 362 billion yuan by the end of 2014, including about 268 billion yuan in short-term liability.
For Caixin Online, this is Nikolai Blackie
这也许是恒大2009年难关之后，最缺钱的时候。一个月前，恒大5.5折甩卖全国商铺和车位， 4月16日，起又以无理由退款活动，加推全国库存。
在4月15日的发布会上，恒大宣布，购房者履行相关义务并无违约行为，在签署购房合同之日起至办理入住手续前，均可无理由退房。
尽管有分析人士认为，考虑到购房者首付、定金返还周期较长等问题，购房者真正实现无理由退房的操作可能性不大。但无论是之前的甩卖商铺，还是此次住宅促销，都意在回笼资金。随着库存积压，需求萎缩，以无理由退房吸引购房者的促销方式，将短期内出售困难的住宅楼盘推销出去，不啻为加推去化、充实现金流的一种良策。
过去一段时间以来，恒大先后在体育、快消、医疗、影视、金融等多个业务领域重金投入，这些新领域都需要地产业务快速的资金回笼作为投资支撑。
2014年恒大非地产业务亏损31.3亿元，仅“恒大冰泉”矿泉水业务亏损就达到23.7亿元。在多元化业务资金亏损严重情况下，地产业务资金回笼显得更为迫切。
