65.9 billion yuan to take 96 land Vanke Capital Pressure fade

This reporter Zhang Yixi to take the pressure Vanke is becoming the most expensive "landlord" in 2010. China's Index Institute of data shows that Vanke to 65.9 billion yuan to obtain 96 land, ranked the 2010 real estate companies to take the top spot.　　Vanke is also continuing to expand, Vanke provided to China Economic Times reporter data show that only in December, Vanke was in Wenzhou, Nantong, Jiaxing, Fushun and other 4 cities, completed the National 46 Cities market layout. This reporter found that a large number of land in the bosom of the same time, Vanke's asset-liability ratio is also rising. According to Vanke's announcement, as of September 2010, Vanke's asset-liability ratio reached 73. 7,480%, the highest point in history, more than the previous September 2006 peak of 72.　　126%. "Vanke is sure to increase the capital burden of enterprises, the increase in asset-liability ratio is not surprising, mainly with the rapid expansion of Vanke related." "Chengdu Management Consulting agency real estate industry analyst Zhang Zhilang 16th to this reporter analysis said." The profit margin, which reflects corporate profitability, is falling, from 6 in the 2009 report. 7,102%, to 3 of the three quarterly reports released in September 2010.　　1103%. A lot of land in the market, leading to Vanke cash flow negative news.　　However, many people interviewed by reporters believe that Vanke has always adopted a sound development strategy, negative cash flow is unlikely. "Vanke although land to take more, but has been pursuing rapid development strategy, not so big risk." "A person familiar with Vanke said to our correspondent that it is understood that Vanke chose a relatively small risk of rapid expansion of the road, rather than bear the pressure of large expansion alone. The person familiar with Vanke said, although Vanke 2010 years although more, but for hot areas of high price plots, mostly take and other enterprises to form a consortium, cooperation to take the land, which can effectively evade market risk. Vanke recently took a few pieces of land in Beijing, Minmetals Group are involved in it, can use the power of large state-owned enterprises, Vanke in the market uncertainty, reduce the risk of benefits. "After continuing to expand sales of billions of dollars, Vanke's road to expansion continues."　　In December alone, Vanke was accommodated in 4 cities, such as Wenzhou, Nantong, Jiaxing and Fushun, to complete the distribution of 46 cities in the country.　　Vanke board Secretary Tan Huajie said that despite the number of new projects in December, but the principle of Vanke cautious to take the land is not any change, still with two or three-line city as the focus of investment, access to the project's land price is within a reasonable range. Reporters found that in the vast number of land in the bosom of the same time, Vanke's hands and not too much high-priced, most of the distribution in the two or three-line city.　　Vanke provided data show that December Vanke new project floor price of about 2950 yuan, the whole year new project floor price of about 2740 yuan. In Zhang Zhilang's view, although Vanke's stall is relatively large, the rapid sales strategy corresponding to the sales rate will also haveGuaranteed, it should be able to make up for the problems that can be caused by rapid expansion. So far, Vanke's operating situation, there is no clear answer.　　Vanke said that the annual report data will not be disclosed until March this year, there is not much information can be published. "As long as the property market has been steadily upward development, Vanke's development model is certainly not a problem, and its rapid development of rapid sales operation mode, more conducive to enterprise expansion." But once the property market turns upside down, Vanke will face uncertainty from the market level.　　Said the person familiar with Vanke. Zhang Zhilang that Vanke in the hundreds of billions of dollars after the scale, should be warned that hundreds of billions of dollars is only sales scale, long-term development or should pay more attention to the quality of growth, "Vanke's transformation is only a matter of time." ”