As sun Hongbins second listed company, the companys listing ceremony did not attend, and sun Hongbins seems to be a little low-key and over head.
This year is the tenth year of rongchuangs listing in China and the first year of sun Hongbins high-speed shift.
Abandon the scale effect of real estate enterprises and focus on the profitability of enterprises. In the semi annual report of rongchuang this year, reducing leverage, reducing financing costs and strictly controlling land acquisition have become key words.
The radical expansion of rongchuang finally realized the danger of debt.
As of the first half of this year, rongchuang China has a total value of more than 3 trillion yuan, a total area of more than 250 million square meters, and an average land cost of 4312 yuan per square meter, of which about 80% are located in the first and second tier cities.
In other words, even if sun Hongbin stopped taking land, it would not hinder the growth of financial and entrepreneurial performance.
An industry person once said: among the large-scale real estate enterprises, rongchuang has the best land reserve, which will effectively guarantee the steady increase of rongchuangs market scale in the coming years.
Without the anxiety of land reserve and the debt crisis in the near future, the low-key rongchuang has become more and more radical in culture and tourism.
In the past five years, the reason why rongchuang has become a knight in white in the hearts of various real estate enterprises is closely related to sun Hongbins decision.
As early as five years ago, when Yu Liang, chairman of Vanke, proposed the concept of Silver Age, sun Hongbin denounced him. At the time, he thought it was the diamond age of real estate.
From 2017 to 2018, rongchuang, Biguiyuan and Evergrande made a lot of money in the Diamond Age of the property market in the third and fourth tier cities. Where there are these three or four tier cities, house prices can quickly exceed 10000 yuan / m2. Vanke, who put forward the silver age, missed the feast of the property market in the whole third and fourth tier cities.
In the second half of 2018, country garden, known as the universe real estate enterprise, took the lead in stepping on the brake. In the era of frequent quality problems, high turnover, the sharp weapon of the real estate enterprise, failed for the first time.
Subsequently, all the real estate companies began to adjust their strategies. Winter came quietly overnight. In order to survive, Huaxia Xingfu sold many projects to Vanke, while Taihe Group is still struggling in the quagmire
Compared with them, rongchuang, which has a larger debt, does not seem to feel the cold of winter. In fact, since rongchuang took over Wanda cultural tourism project in 2017, rongchuangs plan B has already started.
What Wanda cant do, rongchuang has become the focus.
Sun Hongbin once firmly said: culture is poetry, tourism is the distance, we invest in poetry and distance.
After Wanda culture and tourism, sun Hongbin spent 15.269 billion yuan to acquire 51% of global century and time global held by Yunnan Urban Investment Group.
The prudence in the residence prized the radicalism in culture and tourism.
When meeting with local officials, the focus of the conversation was mostly on cultural tourism and big health industry.
Facing the sunset of the industry, sun Hongbin started another stove.
According to the official website of rongchuang, there are 10 cultural and tourism cities, 4 tourist resorts and 26 cultural and tourism towns, including 100 theme hotels and 41 theme parks.
Two days before the launch of rongchuang service, sun Hongbin was still on the project of rongchuang cultural tourism city in Kunming.
In the future, in the era of stock game, rongchuang will be in the forefront. When real estate enterprises no longer rely on scale to win, but rely on continuous cash flow, why worry that Chinese enterprises can not make Disney?
Cultural tourism is a big move of sun Hongbin. Although its annual revenue is less than 3 billion (2.85 billion in 2019), once completed, rongchuang will get tickets for the next era.