One of the main reasons why Xiangsheng real estate can be accepted by the capital market, or because Xiangsheng real estate has entered a period of high-speed growth in 2020, the performance growth of this year and next year may be guaranteed. From 2017 to 2019, the uncommitted sales of Xiangsheng were 42.698 billion yuan, 75.705 billion yuan and 86.451 billion yuan, respectively. In the first four months of 2020, the number was 89.227 billion yuan, with an obvious increase. However, with the increase of net assets four times, the current liabilities of Xiangsheng real estate have also increased in recent years. From 2017 to 2019, the current liabilities of Xiangsheng real estate increased from 60.6 billion yuan to 10.7 billion yuan, almost doubling. In the first four months of 2020, the current liabilities of Xiangsheng real estate were about 11.4 billion yuan.
As the last domestic real estate company with a price of 100 billion yuan, Xiangsheng real estate, which has sold more than 100 billion yuan in 2019, will submit a listing prospectus to the Hong Kong Stock Exchange in June 2020. Less than half a year later, Xiangsheng real estate passed the hearing, which was more smooth than other real estate enterprises in the industry. A fact is that since last year, many of the IPO prospectuses submitted by domestic real estate stocks ended in invalidation after expiration. In October, Shangkun Real Estate Group Co., Ltd. and territory Holding Group Co., Ltd., which had submitted their Prospectuses for the first time and were invalid for the first time, re submitted their prospectuses. Also in March this year, another domestic real estate company, Jinhui holdings, submitted a prospectus to the HKEx in March and passed the hearing in October. This is the third time that the real estate company has impacted on the capital market.