46The real estate XinDa go down financial costs soared now first loss since listing|The real estate XinDa go down financial costs soared now first loss since listing0

The real estate XinDa go down: financial costs soared now first loss since listing source: Chinese estate XinDa zouxiashentan visual center daily news in 2016, real estate XinDa shows excessive behind the myth of weakness. According to XinDa disclosed figures, during the reporting period, sales contract amount of 6 billion 200 million yuan, an increase of 32%, 42% growth in revenue. However, the net profit of the XinDa actually fell 45%, gross margin is down 12%, its first loss since listing. XinDa explained in the annual report is due to transfer income from the three or four line of the city project, industry gross margin decline is relatively common, efforts to promote company sales strategy and increase the stock return, so the larger revenue decline in gross profit margin. The XinDa’s earnings is difficult to support the claim. XinDa 3 billion yuan in the first half of the revenues, there are more than 2 billion yuan from Ningbo and Shanghai. Shanghai needless to say, is the 2015 China hot real estate market, Ningbo in the "330" policy stimulus, stocks go very smoothly, the transaction price is not only reached a record high, but also ushered in a rare housing prices. In addition to Ningbo and Shanghai, the largest XinDa sales from Qingdao, although in 2015 the Qingdao property market overall "price increments, but the main project blue court Fu Di where North but contrarian price, historical data from SouFun, blue court Fu Di also appeared to a good price. Profits fell to appear in the three main city strong background, confirms the XinDa weak development ability. A XinDa worked in real estate staff told reporters: "the XinDa interface development ability is very weak, you go to see a list of all the executives, who are basically the XinDa information management background, understand finance, will raise money. But money and real estate development is not the same. XinDa real estate development process control has many problems." The financial costs soared, the XinDa was also considered as the main reasons for the decline in net profit. As of July 31st, the real estate XinDa in 2016 on new borrowing 7 billion 900 million yuan, more than 2015 of net assets at the end of 1/5. 7 billion 900 million yuan, $1 billion 900 million from the financial structure of the loan, $6 billion from the debt financing plan. The massive influx of capital for XinDa financing arising from the financial cost of an increase of 193.26%. You know, the XinDa real estate financing cost is very low, the government bond interest rate is only 3.5%-3.8%, private debt interest rate is only 4.5%-5.56%, even more than the industry recognized quality enterprises in Longhu are low. XinDa has been able to obtain its capacity does not match the financing cost, the parent company’s endorsement is absolute reason. From the beginning of 2015, the XinDa real estate fund wantonly spread, has initiated or participated in 7 projects, 1 billion 600 million yuan to raise capital leveraging the 13 billion 600 million yuan, including 11 billion 500 million yuan from the China XinDa’s various subsidiaries, even Chinese own XinDa. However, the management of non-performing assets behind the giant XinDa, is not equal to anything as people think. In the real estate XinDa emerge, there are comments that can be on the real estate XinDa