Vanke's move, to the real estate business peers have undoubtedly provided a new development ideas

November 12, Huizhou Merchants Bank listed in Hong Kong, Vanke spent more than 3 billion Hong Kong dollars to subscribe to 883 million shares, accounting for about 8.1% of the total shares issued after the issuance of the largest shareholder. Vanke move immediately became the focus of attention, the industry has speculated Vanke "control" the meaning of the bank.

Vanke's answer is to do community finance, and said that it has been building a new Community ecosystem service system. Vanke's "control" of the bank's actions has not stopped for years, according to Vanke management. "In the past 2-3 years, Vanke has been planning to provide financial services for the communities it manages, and has tried to work with a larger bank such as Huaxia Bank and Minsheng Bank in a project in Hangzhou, where management has been looking for a medium-sized regional bank to collaborate over the years." ”

In fact, Vanke's move is not an example. As early as September 2011, Greenland Group became the largest shareholder of Panjin Commercial bank by increasing capital Holdings, and Huainan Mining group, which mainly concentrates on coal and property, also shares in Huizhou Merchant bank, holding Wuhu Yang Bank and so on. October 26, Yuexiu Group announced the acquisition of HK $11.644 billion for the Hong Kong Chong Hing Bank 75% of the issued share capital, as the latter's largest shareholder. and Vanke holding Huizhou Merchants Bank, is the first case of pure housing enterprises holding commercial banks.

For Vanke, it has more deep-seated reasons and thinking, and for the entire real estate industry, it played a certain role in the lead, the housing enterprises "control" the Bank of the incident is just beginning.

The value reengineering of the industrial chain

Vanke has always been a visionary company, and every move behind it is almost a step in the company's strategy. With the first-line City real estate market in the next decade the extensive growth of space in the shrinking, has been from the "incremental era" into the "stock age." How to continue to stabilize the leading position in the stock age has become a problem that Vanke has to think about. Rather than think of expansion, it is better to carry out deep value mining.

Vanke has provided homes for more than 500,000 Chinese families and has provided property management services to more than 20,000 communities, according to data previously provided by Vanke for business value. And to dig deep value, and those Vanke most valuable, many years of careful accumulation of large owners group to establish a deep stickiness is the first choice. Yu Liang, Vanke's president, said in an internal mail that the investment in Huizhou merchants ' Bank was to build Vanke's Community ecosystem service system. He has repeatedly stressed that Vanke does business in order to better do residential business, mainly in community business; In the long run, residential development is still the main business of Vanke, will not change. Vanke Dong Tan Huajie explained that, compared to Vanke over billions of years of sales scale, the participation of Huizhou Merchants Bank Investment scale is small, but it is expected to play a synergistic effect, to help the company take the lead to provide customers with domestic leading Community financial services to enhance the company's comprehensive residential services competitiveness.

So, after the action of Vanke's long brewing, does it mean that Vanke hopes to share the "big cake" of real world community consumption and finance, just like the pattern year?

Vanke is not only building houses, selling houses, but also providing meticulous and thoughtful property services for its clients, creating a new life atmosphere and leading a new way of living. "Vanke is not the action of its leading a new way of life?" According to Vanke's internal meeting records, Vanke's partners include 8,000 building materials suppliers and contractors, of which 5,000 are small and medium-sized enterprises, these companies need Vanke's support when financing, Vanke can recommend them to the bank or provide other possible financing.

In this way, everything seems to be more and more clear: Vanke shares the deeper logic of Huizhou Merchants Bank is that through the construction of new investment and financing capacity, integration of real estate and financial business, the value of the industrial chain reengineering, this is undoubtedly Vanke restructuring commercial real estate layout of the important step.

Must become a trend

By buying a stake in the Huizhou merchant bank, Vanke has added a heavy sum to the construction of the new territory. But the meaning is far from just that. Vanke holding Bank by the industry known as the "milestone" event, the reason is: Vanke has been the leader of real estate enterprises, its every move can have a certain impact and driving role.

Over the years, we find the fact that, whether it is a business area in the industry, such as tourism real estate, overseas business, or some kind of development model, whenever one or two of the first enterprises to try, immediately will emerge a large number of followers, soon, the entire industry will form a trend of development. And this time is no exception, the holding bank not only can bring the financing innovation for the housing enterprise, its benefit is far more than trusts, the fund, the overseas issuance debt and so on financing way.

CRIC Research Center analyst Zhu Yi, Chen Kaiji, as a capital-intensive industry, domestic housing enterprises in the real estate business outside the formation of multiple main business ratio is not high, more in the industry to form a vertical integration of the diversified business. The main reason is still limited funds, business is no one to ignore him. But the bank is the exception, because it has "small investment, quick effect" characteristics. In the case of Vanke and Yuexiu, for example, companies that invested only more than 3 billion and HK $11.6 billion were able to hold on to banks, which would not create pressure on hundreds of billions of assets. Moreover, the bank's profits are very high: in the first half of this year, 16 listed banks made a net profit of 611.7 billion yuan, accounting for half of all listed companies, many small and medium-sized banks net profits growth rate of more than 20%. In this way, the housing companies holding banks, the relevant investment itself has a substantial return, its profitability is no less than the real estate maxleaf, and Hanlaobaoshou.

Although large enterprises such as Vanke are not short of funds, they value the deep integration of their business and finance through "holding banks". For example, Vanke can use the "holding bank" platform for the development of the project to do some asset securitization products, the relevant convenience and scale can be done relatively large, no intermediary agent links, financing costs will decline.

More importantly, after 30 years of real estate development, China's real estate industry has a group of brand real estate enterprises, these enterprises have a large number of owners, these huge resources like a gold mine, has been buried deep but has never been excavated. For the company has been locked in the "land-development-sell-land" circle of Enterprises, Vanke's move, undoubtedly provides a new development ideas.

We can even foresee that the future of house-control banks will become a trend. Vanke's leading role in the 2014, or will form a housing enterprises "control" the small climax of the bank.