Pan Shiyi and his wife have been selling Chinese property for 5 years, with a total cash of 29.3 billion yuan

category:Finance
 Pan Shiyi and his wife have been selling Chinese property for 5 years, with a total cash of 29.3 billion yuan


On October 30, surging news (www.thepaper. CN) learned from people familiar with the transaction that SOHO China (00410. HK) has started trading with a foreign-funded company. Pan Shiyi and Zhang Xin, the actual controllers of SOHO China, finally plan to sell all the eight King Kong, the core assets of SOHO China.

Public information shows that SOHO China has been selling assets almost every year since 2014. The recent move by SOHO China to sell assets took place just a month ago.

On September 30, SOHO China announced that the company sold the asset package consisting of 9 commercial projects and 2583 underground parking spaces in Beijing at a price of 761 million yuan. From the perspective of the asset package project, SOHO China is selling non core assets this time. The sale will bring about a gross profit of about 253 million yuan to SOHO China, equivalent to 14.7% of SOHO Chinas operating revenue in 2018, accounting for 10.8% of SOHO Chinas operating profit in 2018 (excluding the evaluation and appreciation of investment property).

SOHO China has been selling assets in China since 2014.

In 2014, SOHO sold nearly half of Shanghais Soho Helen square, SOHO Jingan square and skyscraper SOHO properties for a total price of 8.28 billion yuan. In 2015, SOHO China sold 50% of its stake in plot 8-1 of Shanghai Bund International Financial Center to Fosun Group, with a total price of 8.493 billion yuan.

In 2016, SOHO China continued to sell its assets and sold the SOHO Century Plaza in Shanghai for 3.22 billion yuan; in 2017, SOHO China sold the remaining property area of Shanghai Hongkou SOHO and Lingkong SOHO for 8.58 billion yuan.

For the practice of selling assets frequently, Pan Shiyi once explained, the law that business will never change is to purchase at low time and ship at high time. SOHO China always follows such a principle. Always judge when the price is low and when it is high.

In addition, Pan Shiyi said publicly at the promotion meeting at the end of June, SOHO China plans to focus on the most prosperous areas in the first tier cities next, and some funds will also be used to repay debts.

Previously, it was reported that SOHO China sold 11 projects of its shared office brand soho3q to dream star, who also does shared office business. However, SOHO China did not respond to this.

Soho3q is a shared office product founded by Pan Shiyi in 2015. According to SOHO Chinas official website, soho3q has become the largest sharing office operator in China.

According to the data of SOHO Chinas 2018 annual report, by the end of 2018, soho3q has been expanded to other cities and third-party properties except Beijing and Shanghai, with 31 centers in 7 cities in China, totaling more than 30000 stations. Since then, Pan Shiyi has continued to publicize soho3q in public, and even said that soho3q would go public in 2019. However, from the current situation, soho3q plans to go public this year may be delayed. According to the data of SOHO China semi annual report 2019, as of June 30, the companys business volume was about 889 million yuan, an increase of 11.8% year-on-year; gross profit was about 711 million yuan, an increase of 10.4% year-on-year; gross interest rate rose to 80% from 76% in the same period of 2018; total loan was about 17.761 billion yuan, net debt ratio was about 44%, and overseas debt ratio was about 3.5%. Cash and cash equivalents held in hand are RMB 1.153 billion, compared with RMB 3.291 billion in the same period of 2018. Source: surging news editor: Liu Songpeng nbj9949

According to the data of SOHO Chinas 2018 annual report, by the end of 2018, soho3q has been expanded to other cities and third-party properties except Beijing and Shanghai, with 31 centers in 7 cities in China, totaling more than 30000 stations. Since then, Pan Shiyi has continued to publicize soho3q in public, and even said that soho3q would go public in 2019. However, from the current situation, soho3q plans to go public this year may be delayed.

According to the data of SOHO China semi annual report 2019, as of June 30, the companys business volume was about 889 million yuan, an increase of 11.8% year-on-year; gross profit was about 711 million yuan, an increase of 10.4% year-on-year; gross interest rate rose to 80% from 76% in the same period of 2018; total loan was about 17.761 billion yuan, net debt ratio was about 44%, and overseas debt ratio was about 3.5%. Cash and cash equivalents held in hand are RMB 1.153 billion, compared with RMB 3.291 billion in the same period of 2018.