North Star industry alone supports the king of Changsha

The silent North Star industry, once again because of the 2007 competition 9.2 billion Changsha "Earth King" and surface. April 29, the first opening of the shares announced that the proposed transfer of 25.2442 million yuan to the opening of the group owned by the city of Changsha Beichen Real Estate Development Co., Ltd. 4% of the equity. Reporter learned that, in the first opened out of the holding of the stake, North Star will support the king of Changsha alone.　　　　The original tepid Changsha property market, under the new deal under pressure, the prospect of increasingly difficult to test. Dilution first opened in 2007, the first open shares and Beichen industry to join hands in Hunan, to 9.2 billion yuan Total price took Changsha Xinhe Delta block, one fell into the national total Price "King".　　At that time, North Star in the project accounted for 80% of the shares, and the first opened through the city opened indirect holding of 20% equity. April 29, the first opening of the shares announced that the proposed transfer of 25.2442 million yuan to the opening of the group owned by the city of Changsha Beichen Real Estate Development Co., Ltd. 4% of the equity.　　The first choice at this time to break away from the North Star industry and the composition of the Changsha King of the Commonwealth, causing strong outside concern. Yesterday, the first securities representative Zhongning told reporters that the first to leave the king of Changsha as early as 2009 years has been to the controlling shareholder beichen industry, and conducted a project evaluation report survey.　　But because the first open shares and North Star Industrial two major shareholders are state-owned enterprises, so the evaluation to be audited by the SASAC, spent a long time, is now on the property exchange listed transfer, to go to the procedure, rather than direct transfer to Beichen.　　Zhongning said that in the past two years, the major shareholder beichen industry through the expansion of equity, the first opened originally held 20% stake has been diluted to 4%, after the transfer, the first open will completely exit Changsha Xinhe Delta project.　　　　"We are holding too little stakes and the funds are too inefficient to participate," Zhongning said. Wang Beichen, the king of the North Star industry has said to the media, the first issue of the transfer of equity has been the two sides have communicated, taking this opportunity to fully take over Changsha project all the right to develop a strong intention, "the company is very optimistic about the market in Changsha, did not give up the right to buy "It is reported that before the North Star, the first opened the reason for the joint land, because the original auction of the plot system on the bidding side of the requirements, and the downpayment of 6.2 billion yuan of the premium is made by Beichen alone, and Beichen has been independently assume the responsibility for development, the first open 4%　　The stock price is only 25.2442 million yuan, compared to the entire king of the 9.2 billion yuan plate, it is "drizzle."　　But the North Star Changsha King's sales performance is not optimistic. According to our correspondent understand, Beichen in Changsha has more than 5 million square meters of projects. But the Changsha property market is still in oversupply situation.　　Only in the vicinity of the Xinhe Delta project, including Xiangjiang Century City, Xiang Jiangbei Still, riverside June Yue Xiang di and Pearl River Huacheng and Guo MoMA and other projects, although the positioning of these properties are in the high-end projects, but the current price are concentrated in 3800-4850 yuan/square meters. and BeichenThe River delta project only floor price has reached 2421 yuan/square meters, the industry estimates, 1300 yuan/square meters of construction costs, 400 yuan/square meters of all types of ancillary costs and 400 yuan/square meters of the transaction deed, the project cost price of at least 4500 yuan/square meters, " Project price of at least 6000 yuan/square meters to ensure that no loss. "North Star in the 2009 Annual report also expressed the cautious performance of this year. In 09 property sales 2.7 billion, the North Star 2010 sales plan to reduce: "2010, the company to develop the property is expected to achieve open up to work area of 1.44 million square meters, new construction area of 380,000 square meters, completed area of 720,000 square meters." By 2010, the impact of the reduction of saleable area is expected to achieve sales area of 210,000 square meters, contract sales income of 2.07 billion yuan.　　"Although this piece of land does not drag North Star, but greatly limits the development of Beichen," Beijing, a state-owned property developers believe that Beichen spent 3 years to get a high price, and the direct result of this move, now Beichen is firmly tied in Changsha, in addition to Beijing, the expansion in other cities is still a piece of white paper.　　Under the new deal, land pressure highlighted in the recent property market regulation of the new deal under pressure, North Star is not the only land to meet the pressures of real estate companies. Pan Shiyi, the chairman of Soho China, has said that sometimes a piece of land can determine the life and death of a company. Greentown China Chairman Song also told reporters that Greentown's biggest risk is whether the land can be smoothly changed.　　In last year's housing business enclosure movement, in addition to Vanke High-profile said resolutely not take the city king, as well as the Longhu and so on a few real estate developers in the public to take the market appearance, many companies have taken a lot of high prices. Du Lihong, a partner at Tsinghua University and Beijing's beta studio, points out that the liquidity push for higher land prices and the strong demand for high-end housing by investors are attracting more and more companies to the high-end transition.　　At present, many housing companies choose to develop high-end products to obtain more profit is very prominent. However, the experience of the world has shown that high-end housing, compared to ordinary housing, prices have more obvious volatility, so in the economic downturn, the impact of high-end housing is also necessarily greater. Higher-end capital will have a bigger stake, expansion will be slower, and the faster the high-end projects expand, the higher the proportion of high-end, the greater the potential risk.