After drawing up the "downsizing" plan, Vanke is rapidly putting non core assets on the shelf.
On May 8, according to the announcement of Shenzhen Public Resources Trading Center, the use right of T208-0053 parcel of land located in Shenzhen Bay Super Headquarters Base (hereinafter referred to as "Shenzhen Chaozong") was transferred by listing, with a starting price of 2.235 billion yuan and an estimated transaction date of May 27. It is reported that in December 2017, Vanke won the land for 3.137 billion yuan when it was first transferred. The land area is 19227.5 square meters, and the total required building area is not more than 167000 square meters. The nature of the land is mainly commercial office.
According to STJG [2024] No. 14 document, the construction project of this parcel of land is currently suspended, and the basement structure construction of area S1 (tower area) of the project's southern plot has been completed; The construction of the second underground floor structure in S2 area has been completed; The construction of the three underground floors in S3 area has been completed; The construction of cushion cap in S4 area has been completed. The engineering piles in the north area of the project have been completed. Due to the incomplete structural drawings, about 2m deep earthwork has been reserved. The parcel of land is transferred according to the current situation.
In this regard, people from Vanke told the Securities Daily that this listing and transfer of the plot is one of the company's measures to firmly promote the implementation of the "slimming and fitness" package. This plot is a commercial office project acquired by the company in the rapid development stage of the industry, which was originally planned to be mainly used for office work of employees in Shenzhen. In view of the significant changes in the current industry situation, the company plans not to build the project, so it plans to transfer the project as a whole, reduce the occupation of capital by non main business assets, and focus on three main businesses, namely, resource improvement and strengthening.
Previously, Yu Liang, Chairman of Vanke's Board of Directors, explained in detail Vanke's package of "downsizing" plans at the company's annual shareholders' meeting at the end of April, including two stages. The first stage is to firmly downsize, withdraw from other businesses, and clean up and transfer financial investments in non main businesses. We will resolutely and vigorously promote business office and other large asset transactions, and plan to complete 20 billion yuan annually. At the same time, actively complete the transformation of financing mode. In the second stage, Vanke will focus on its main business, refine its business, and become the industry's product benchmark and service benchmark.
In addition, Vanke also proposed in its 2023 annual report that in 2024, it will strengthen block trading and equity trading, collect more than 30 billion yuan, and increase the safety mat.
Some analysts believe that Vanke has made a quick landing move about a week after the package was introduced, which shows its determination to promote "slimming".
In fact, Vanke has frequently made great moves in equity trading recently. At the end of 2023, Vanke will sell the equity of its three subsidiaries Banyan Tree Service (China), Banyan Tree Hotel Management (China) and Banyan Tree Hotel Management (Tianjin) for 480 million yuan. In February this year, Vanke sold 50% equity of Shanghai Qibao Vanke Plaza to Lingzhan Real Estate Fund at a price of 2.384 billion yuan.
The transfer of Shenzhen Supermarket does not mean that Vanke will be absent from the construction of Shenzhen Supermarket. Vanke said that the company is firmly optimistic about the development of Shenzhen Chaozong District, and is still one of the enterprises with the highest participation in the construction of the district.
It is understood that after the suspension of Evergrande Shenzhen Super General Project and its takeover by Anju Jianye, Vanke participated in the project as an agent. Its Vanke Urban Construction Company is the agent of Shenzhen Super General Tower B Project and is responsible for the whole process construction management of the project.
From the perspective of daily operation, Vanke currently maintains a steady pace. The sales briefing released by Vanke on May 7 showed that the company achieved a contract sales amount of 20.89 billion yuan in April, and a total of 78.87 billion yuan in the first four months. According to the data of third-party research institutions, Vanke's sales in the first four months of 2024 are still among the top three in the industry.
