KWG

Bi-China Business Editor's note / in the industry appear to be a mysterious rich KWG rise in 2009, it is necessary to the realization of the four from the local to the national objectives of the regional work together at the same time, the 50th billion in sales goals, its human resources, management challenges can be imagined in such a fund in 2009 for King's, KWG how to solve the financial problems the rich?
In 2008," potential "after the winter, with the first full-foo Jingtai fiscal year is not satisfactory performance reports.
The end of April, with the rich Jingtai released in 2008 show the results announcement, the company full-year revenue 1.574 billion yuan, up 59.3 percent reduction, profit 369 million yuan, up 86.3 percent reduction. In 2008 the preparatory 8,000,000 square meters of land reserves, can speed up the development project in southern China National Housing prices, a surprisingly low-key in 2008. In 2009
the data to open so that the rich are Jingtai start point of the marketing battle with" the snow before a shame, "the taste. KONG Jian-min, chairman of the board's performance at the recently revealed that as of April 19, 2009, the company's pre-sale volume reached 1.2 billion, almost the same throughout the year in 2008.
A massive marketing battle has quietly launched before 2009 before KONG Jian-Min, is as high as 50 billion in sales goals and the first four regional coordination. However, the general tension in the capital in 2009, a rich Jingtai expansion to the nation how to achieve the goals? Annual Report of
not
pretty KONG Jian-Min, when entering the venue, how many people did not recognize him, this just turned 40-year-old "billionaires" usually used to avoid the public eye, and even newspaper network rarely appears his photos. He went to speak their own seats, was mixed.
He must have to face in 2008 the performance of the company fell sharply questioned, founded in 1995 KWG Fu, in 2007 contributed to the company listed in Hong Kong to enter the fast track national development, but the first full fiscal year results in some embarrassing him .
" The company's work in 2008 focused on the reorganization of the distribution of human resources and IT management system to upgrade the company, sales in 2008, not a major development goals. "Echoed the voice of KONG Jian-Min over in the hall, he subconsciously理了理tie, seemed to cover up什么.
Public statements did not reveal his能讲出the fact that its 2008 average price of properties for sale 11,017.7 yuan / sq m, and in 2007 was 11,575.3 yuan / square meters, and 2008, Vanke, Hengda companies such as real estate compared to the price cut, with its rich Jingtai price changes in real estate is limited. Therefore, although the rich KWG dropped 59.8 percent gross margin, but the Group's gross margin in 2008 remained at 52.6 percent, with basically the same as in 2007.
Facts have proved that the conservative pricing strategy, and ultimately failed to win the buyers of the" favor. "
At the same time, in 2008 the situation is not optimistic about the market, prices can not win and when the intention to maintain profits, KONG Jian-Min choose" go with the stream, "a slow-down in Guangzhou, Chengdu, Suzhou, the process of three projects, which led directly to the item up for sale throughout the year area reduced significantly. KONG Jian-Min
But not only in order to" review "from the first quarter 2009 sales booming, so he saw the" stand up "the dawn. He raise the tone, declaring that "the property market has bottomed out or preliminary," At the same time, rich Jingtai 2009 sales target of 50 billion yuan, in 2008 it is 2.4 times the performance, Guangzhou, Suzhou, Chengdu and Beijing will contribution to sales of 56%, 17%, 23% and 4%. KWG
This is the rich has never been the development of the structure, over the past decade the development of almost all of one place in Guangzhou, now the National首尝expansion, which prepared KWG rich?

Critical marketing "is the main task of 51 led to (real estate) sales reach." KWG rich hotel Jie-ping, director of the Department of Commerce paused, and then categorically told reporters.
This was the general manager of marketing centers for young people are well aware of the company's projects," in 2009 there will be 16 items for sale, only 51 during the five projects in Guangzhou have added new products push. "At the same time, the impact in 2009 50 billion in sales goals, new marketing plan will be in full swing, Chengdu and Suzhou.
Although the first quarter 2009 sales of more ideal, but there are still funds KWG rich tension pressure.
March of this year, with Chengdu Fu Jingtai Aetos termination of the project partners of cooperation between the two sides, with Aetos Jingtai rich to pay their original investment of 100 million U.S. dollars, to recover 35% of its holdings of shares in the project, the transfer is completed, the rich KWG will be wholly-owned real estate projects in Chengdu.
Press seen from the annual report, as at the end of 2008, a rich Jingtai carrying cash and bank deposits the amount of 1.373 billion yuan, in 2007 and 3.436 billion yuan over the same period fell 60 percent compared to today Aetos1 to pay 100 million U.S. dollars, so that was poor cash flow more tense.
Jie-ping told this reporter that in 2009 the company will have nine hotels in various stages of the project, along with dozens of real estate projects in operation," the Group is expected to this year's debt ratio will be increased, control 70% -75%. "
10 in 2008 introduced a number of management, finance, marketing, and so on into the senior company, is rich KWG National strategic plan for a piece of another.
Once sword Yuexiu Urban Construction, Hengda Real Estate, Overseas Chinese Xin Group projects in the National Day of Romania in November 2008 KWG job-rich, as group vice president, general manager of the South China Area, Romanian National Day took office only two weeks, KWG Fu started the shelving of the long-standing international city project Jingdong. KWG original Fu Group Sales Director of Marketing Planning陈文德are transferred to the regional general manager of Suzhou.
Zhou Li said that in order to stabilize the financial and expand the financing channels for the rich KWG also introduces a number of investment banking professionals, prepared to do the financing for the project, but staff did not wish to be specific.
KONG Jian-min said that in 2009 also do not have a specific financing plan, and in 2008 the introduction of KWG rich people who can vote in line for the company in 2009 to open up more financing channels, it is still unknown. The only certainty is that the marketing of war in 2009 is rich KWG a battle must be won. Questioned the source of funding the industry


" We have been concerned that all Jingtai rich, but this enterprise, too much mystery. "Who are familiar with the real estate industry in Guangzhou, told reporters.
All of the formerly rich Jingtai King combined real estate company, in June 1995 on the establishment in 2003 changed its name to All Jingtai rich, the development of cross-hui Royal Park, Royal Huayuan,叠彩Park,盈彩美居, the international financial Square residential and commercial projects, but until广州大道南located in the "叠彩Garden" after a hit, a known Jingtai Fucai gradually. In 2004, Fu KWG to market the first year, "price" bid for the Pearl River New City 2 "to Wang," It has become real estate by a single shift in the high-end residential properties, office buildings, retail outlets, hotels and serviced apartments multi - development opportunities.
However, the largest shareholder KONG Jian-Min and the other two executive directors KONG Jian Nan (brother), KONG Jian-tao (my brother) until after 2007, listed only gradually revealed its" mystery. " 3 listed companies hold a total of about 67.5% stake to 7.84 the first day of opening the Hong Kong dollar / share's closing price, the three brothers and a total net worth of at least 130 billion, into the ranks of super-billionaire.
In the company's organizational structure, the Hung's three brothers each perform their own duties, KONG Jian-Min is responsible for formulating development strategies for the company and supervision of project planning, business and marketing, KONG Jian Nan is responsible for human resources, administration, information management and legal supervision, while KONG Jian Tao responsible for the overall project, the story of three brothers that were once venture cf KUOK for the three brothers of Sun Hung Kai, Hong Kong's "version of the Mainland."
" Sources of funding become the biggest mystery Jingtai rich. "These people told reporters that the year 2004-2006 the total revenue KWG rich are about 545 million, 434 million yuan and 6.5 billion yuan, profits are about 128 million , 1.33 billion and 160 million yuan. "Assets are not large, but the order of listing, KWG Fu in 2007, nearly 1.8 billion won in Suzhou 3 land, the industry itself is very surprised." KWG
rich listing prospectus in 2007 showed that macrophages funding to get to market before the debt ratio rose to 132.9 percent, and the early 2008's first half-year results showed that the development of new projects as a result of continued new lending, with the result that the company's total borrowing reached 3.0894 billion yuan, debt ratio was up 193.7% to an alarming.
Prospectus revealed that the listing of Jingtai rich net fund-raising (39 million) will be used for 45 percent of Guangzhou Science City (5.02, -0.02, -0.40%) plot of land in Suzhou, Life Park, the peak Habitat Garden City from the project construction costs; about 30% for the city of Suzhou City from the land cost of the project; about 15% will be used to repay liabilities arising from restructuring, while the balance will be used for general working capital.
" Listing and financing the distribution of income has long been out with a rich Jingtai no financing through capital markets, "follow-up study has been jointly Jingtai Guangzhou Fu Han with real estate experts have a doubt, the payment of the 2007 block of Chengdu had 3.6 billion , as well as joint R & F Properties Liede village land force had about 3.3 billion, the combined debt ratio Jingtai rich but a large amount of money in expenses, fell to 50.3 percent in 2008. KONG Jian-Min
But with so many investment banks and property developers in Hong Kong very close personal friendship with a rich Jingtai listing prospectus, the Henderson Land Chairman Lee Shau-kee as a private investment on behalf of the Hong Kong dollar 333 million, and R & F Properties President and co-chairman Lian Li has a total stake in tension Hong Kong dollar 333 million; In addition, 167 million stake in Citic Pacific Hong Kong dollar, and its chairman Larry Yung 167,000,000 shares are Hong Kong dollars, Sun Hung Kai Properties Vice Chairman and Managing Director Thomas Kwok Ping-kwong 150 million stake in the Hong Kong dollar.
The study are concerned that the rich in 2009 KWG 16 residential projects under construction, at the same time there are nine hotel projects in various stages of pre-investment in hotel properties of the backlog of capital-rich have become Jingtai consider.
A" R & F Properties Jingtai rich and the development of similar models, both are from middle and high-end residential real estate to the hotel property and business diversification, "Han said with," R & F Properties has developed a strong mature residential real estate cash flow , still can not meet the funding large-scale commercial hotel with a rich Jingtai funds will face a bottleneck, there is not yet known. "

Sina statement: This information reproduced from the Department of Media Sina, Sina posted transmission of this article for more information purposes and does not imply endorsement of their views or to confirm their description. Content for information purposes only and does not constitute investment advice. Accordingly investors operate your own risk. Sina reports reprint
KWG foo