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jingneng xixianfu on-site pictures | jingneng real estate co., ltd. official microblog

as an old real estate company that has been listed for 27 years, beijing energy real estate has continued to suffer losses in recent years.

a reporter from the "daily economic news" (hereinafter referred to as the reporter or reporter) noticed that in early august, the beijing energy xixianfu project under beijing energy real estate began to promote sales at a price lower than the guidance price of 8,000 yuan per square meter.

a few days ago, beijing energy real estate released a message on its official wechat public account. jia fabin, deputy general manager of the parent company beijing energy group, emphasized during his inspection 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.

the interim report shows that 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%.

1

net loss attributable to parent company for three consecutive years

a reporter from the china business network sorted out 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 beijing energy haiyu city and beijing energy xixian mansion, the other 9 projects all experienced a year-on-year sales decline, with the most serious project beijing energy lishu 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 estate's cash 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 monetary funds 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%.

2

promotion below the guide price of 8,000 yuan/square meter

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.

taking the jingneng xixianfu project located in the dawayao section of fengtai district, beijing as an example, the project plans to build a total of 7 residential buildings, including 11 to 18-story villas and low-rise buildings, with a total of 428 units, with a guide price of 83,000 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.

in other words, the special housing prices offered by jingneng xixianfu are lower than the registered guidance price of 8,000 yuan per square meter.

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 low 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 for 3.841 billion yuan in january this year, with a floor price of 60,800 yuan per square meter, which is higher than surrounding projects. however, the promotional price of jingneng xixianfu is not much different from that of surrounding projects, which may lead to the risk of diluting the project's profits.

source | beijing municipal housing and urban-rural development commission official website

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. as of september 20, only 9 units had been signed, with an average transaction price of 80,700 yuan per square meter.

"due to insufficient decision-making justification for the company's development plan, unscientific and unclear planning objectives, lack of planning and seriousness in implementation, inadequate resource allocation, unreasonable supervision mechanism setting, and failure to timely evaluate and adjust strategic goals based on environmental changes, the company's future sustainable development is subject to uncertainty." beijing energy real estate stated in its interim report that 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. when necessary, the plan content will be adjusted and optimized 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 carry out 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."