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a few days ago, beijing energy real estate (sh600791, share price 3.66 yuan, market value 1.658 billion yuan) released a message on its official wechat public account. jia fabin, deputy general manager of the parent company beijing energy group, emphasized during his investigation at the construction site of the beijing energy yueyuan project the need to speed up sales and promote signing.

in the first half of this year, beijing energy yueyuan, located in beijing pinggu new city, only achieved a total sales volume of 233 million yuan, a year-on-year decrease of 29.61%. this also caused beijing jiuyue real estate development co., ltd., a subsidiary of beijing energy real estate, to suffer a loss of 3.16 million yuan in the first half of the year.

a reporter from "daily economic news" (hereinafter referred to as "new reporter" or "reporter") noticed that according to the interim report, beijing energy real estate achieved operating income of 1.59 billion yuan in the first half of the year, a year-on-year decrease of 17.2%; the net loss attributable to the parent was 0.6 billion yuan, and it has suffered interim losses for three consecutive years; the net cash outflow from operating activities was 4.254 billion yuan, a year-on-year decrease of 257.39%.

net loss attributable to parent company for three consecutive years

a reporter from the china business network reviewed the interim performance of beijing energy real estate in recent years and found that its revenue scale was relatively small, with revenue of only 110 million yuan in the first half of 2020, 850 million yuan and 950 million yuan in the interim periods of 2021 and 2022 respectively, and revenue in the first half of 2023 hitting a new high since 2017, reaching 1.92 billion yuan. although revenue in the first half of this year decreased by 17.2% year-on-year to 1.59 billion yuan, it is still much higher than the same period in 2021 and 2022.

in terms of net profit attributable to the parent company, since 2020, beijing energy real estate has suffered losses in the interim except for 4.2392 million yuan in the first half of 2021. in the first half of this year, beijing energy real estate suffered a net loss of 60 million yuan attributable to the parent company, compared with a loss of 102 million yuan in the same period last year, and the loss has narrowed.

in the first half of the year, beijing energy real estate developed and operated a total of 11 projects, including beijing energy tianxiachuan, beijing energy haiyu city, beijing energy yunjing no. 1, beijing energy yongqing liyuan, beijing energy丨power construction mingyue bay, beijing energy lishu, beijing energy xishanyin, beijing energy丨longhu xishang, jintai lifu jiayuan, beijing energy yueyuan and beijing energy xixianfu.

the above 11 projects achieved a total contract value of 596 million yuan in the first half of the year. except for jingneng haiyu city and jingneng xixian mansion, the other 9 projects all experienced a year-on-year sales decline, with the most serious jingneng lishu project experiencing a year-on-year decline of 101.52%.

due to the reduction in the carry-over scale during the reporting period, beijing energy real estate's operating income and operating costs decreased accordingly. due to the decrease in sales proceeds and the purchase of 30,100 square meters of land,beijing energy real estatecash flow from operating activities changed from 2.703 billion yuan in the same period last year to a net outflow of 4.254 billion yuan, and cash and cash equivalents decreased from 4.59 billion yuan at the beginning of the year to 2.57 billion yuan.

among the 11 major subsidiaries of beijing energy real estate, the most profitable one in the first half of the year was beijing jinglong company, which developed the beijing energy丨longhu xishang project, with a net profit of 163 million yuan; the one with the largest loss was tianjin hna company, which developed the beijing energy haiyucheng project, with a net loss of 38.54 million yuan.

in terms of finance, due to the increase in loans and bonds, the non-current liabilities due within one year of beijing energy real estate increased from 349 million yuan at the beginning of the year to 1.818 billion yuan, an increase of 421.2 percentage points. while deposits increased compared with the same period last year, the company's current ratio changed to 2.3 and the quick ratio was 0.38. the company's debt-to-asset ratio increased to 88.59%.

some of its properties are on sale below the guide price

under pressure from performance, beijing energy real estate adopted the method of price reduction and promotion in an attempt to increase the sales rate of properties.

take the jingneng xixianfu project located in the dawayao section of fengtai district, beijing, for example. the project plans to build 7 residential buildings, including 11-18-story houses and small high-rise buildings, with a total of 428 units, and a guide price of 83,000 yuan per square meter. the official website of the beijing municipal housing and urban-rural development commission shows that the project was put on the market for sale on june 21, and as of september 20, the cumulative number of signed units was only 9, with an average transaction price of 80,700 yuan per square meter.

"the company has a number of properties with a registered guide price of 83,000 yuan per square meter, and is currently offering special offers. they are available at an average price of 75,000 yuan per square meter." in early august this year, a real estate consultant at jingneng xixianfu told reporters from the china business network that during the special offer period, the properties available are on better floors and will be delivered with fine decoration. they can be purchased in groups or individually.

the reporter noticed that the living facilities in the dawayao area are not yet complete. the nearby guoyu wanhe city and shouchuang tianyue shanhe still have a small number of ready-to-move-in houses for sale with lower average prices, and the newly-listed china construction hesong jiuli also has a large amount of housing inventory.

in fact, according to public information, the dwy-l44 plot of the second phase of the dawayao xincheng project, where jingneng xixianfu is located, was won by jingneng real estate in january this year for 3.841 billion yuan, with a floor price of 60,800 yuan per square meter, which is higher than the surrounding projects.jingneng xixianfuthe promotional price is not much different from the surrounding areas, and there is a risk of diluting the project's profits.

"due to the inadequate justification for the company's development plan, the unscientific and unclear formulation of planning objectives, the lack of planning and seriousness in its implementation, the inadequate allocation of resources, the unreasonable setting of the supervision mechanism, and the failure to timely evaluate and adjust strategic objectives in accordance with environmental changes, the company's future sustainable development has been uncertain."beijing energy real estate said in its interim report:the company will conduct a reasonable analysis of the internal and external environment, collect and analyze relevant information according to the research outline, formulate plans based on in-depth research, and at the same time strengthen the evaluation and supervision of the effectiveness of strategic implementation. if necessary, it will adjust and optimize the planning content according to procedures to ensure that the plan is in line with the actual development of the company.

during the investigation of the jingneng•yueyuan project, jia fabin also said that it is necessary to grasp the golden season of construction and take advantage of favorable opportunities to ensure on-time completion. it is necessary to coordinate the construction progress on the premise of ensuring safety and quality, reasonably formulate construction plans, efficiently organize and coordinate construction forces, quickly complete the finishing work of the full decoration, and ensure that the project completion acceptance work is completed on schedule.

"we should make full use of the golden period of september and october, increase publicity of project advantages and highlights, innovate and develop diversified marketing and promotion models, seize market opportunities, provide precise incentives, stimulate market vitality, and speed up the signing promotion work."jia fabin emphasized:"do a good job in ensuring the delivery of houses, stick to the annual operating goals and tasks, strengthen the main responsibility, keep a close eye on the total construction period of the project, and ensure high-quality and efficient performance of the contract."

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