Reporter | Flynn
Huaxia Happiness (600340.SH) announced its new business plan last year, and has begun to land gradually in the near future.
On September 10, Huaxia Happiness photographed two plots in the Binjiang Business District of Wuchang at a base price of 11.6 billion yuan in Wuhan.
Among them, plot P (2019) 108 covers an area of 145,000 square meters above ground and 173,000 square meters below ground. It is used for residential buildings, business clothing, parks and green spaces, and transportation service stations. Its volume ratio is 623 on the ground and 0.36 on the ground, with an initial price of 9.596 billion yuan.
Another P (2019) 109 plot has an area of 491,000 square meters above ground and 584,400 square meters below ground, with a volume ratio of 422 million above ground and a starting price of 2.029 billion yuan.
In the previously announced terms of land bidding, bidders must commit themselves to introducing a branch of a national insurance company approved by the Banking and Insurance Regulatory Commission to operate. The group of the insurance company must rank among the top 50 Fortune 500 enterprises in 2018, and the group of the insurance company has obtained the award from the “one line, two sessions”. All financial licenses.
This clear and strict condition seems to be tailored to the happiness of China. At present, China Ping An, the second shareholder of Huaxia Happiness, ranks 29th among the Fortune 500 in 2018. It owns Ping An Insurance, Banks, Securities and other financial institutions.
In fact, at the beginning of the listing of the two plots in Wuhan in August, there was news in the market that the happiness of China had been locked in. From the point of view of bidding conditions, the two lands were taken by Huaxia Happy Southern Company and Ping An.
Before filming the plot, Huaxia Happy Southern Headquarters had set up a subsidiary company in Wuhan, Huaxia Happy (Wuhan) Real Estate Development Co., Ltd. The chairman of the company was Wang Xiao who joined Huaxia Happy from Huarun.
According to industry and Commerce data, Huaxia Happy Wuhan Company has registered capital of 50 million, its main business is real estate development and operation; its own house leasing; property services. In July and August, the company established two subsidiaries, Huayujiang (Wuhan) Real Estate Development Co., Ltd. and Huayuhan (Wuhan) Real Estate Development Co., Ltd.
Despite the early announcement of the new business plan for Huaxia Happiness, the specific projects have not been made public.
At the end of August this year, Huaxia Happiness announced a real estate project cooperation transaction with Ping An Life. Huaxia Happiness Lize, a subsidiary of Huaxia Happiness Lize, transferred 100% of Beijing Wusheng Science and Technology and its bonds to Ping An Life, amounting to 5.829 billion yuan. At the same time, Ping An Life has entrusted Huaxia Happiness with property management for development and construction targets in the past generation, and provided operation and management services for property after completion in the future.
This means that China Happy’s first new business, through peaceful cooperation, is located in Beijing Lize Business District.
Interface News has reported that Huaxia Happy’s new business has tracked more than 30 projects. At present, these projects are gradually landing. It is worth mentioning that in the absence of a large amount of funds in the early stage of Huaxia Happiness, the safe binding of new business and Huaxia Happiness’s two shareholders will be crucial.
At the performance meeting at the beginning of this year, Lin Chenghong, Secretary of Huaxia Happy Board of Directors, said that as an insurance fund, Ping An would choose new real estate with long term, large volume, low cost and stable income as the investment direction.
It is understood that the new field is based on strengthening the business of industrial new town, exploring and exploring new business areas of integrated real estate besides industrial new town, which will increase commercial real estate and related mid-high-end residential business, such as office buildings, shopping malls, etc., and explore new real estate business such as recreation and long-Rent apartments. The new area is the company’s focus on the deep cultivation of the core metropolitan area, and will expand into the core metropolitan area, further consolidate the company’s layout in the core metropolitan area.
For the happiness of China, the former model of expanding territory by copying new industrial cities in other places can only be developed in the periphery of the city core. With the support of Wu Xiangdong team and peace, the happiness of China is also advancing to the core area of the city.
For this transaction, people in Wuhan market commented that Ping An started in Wuhan not once or twice, packaged and wholesaled it back, and then introduced partners to develop it. It has been staged several times in Guanggu and Hanyang, which is a bit like the second-level wholesalers in the land market.
In addition, with a safe endorsement, Huaxia Happiness made a number of financing in the second half of the year. On June 22, Huaxia Happiness announced that its controlling shareholder, Huaxia Holdings, intends to provide 1.8 billion yuan of sustainable creditor’s rights to the company, with an annual interest rate of 6% in the first three years. In September, Huaxia Happiness issued two successive sustainable debts on the 4th and 6th, amounting to 6 billion yuan.
This also makes the Happiness of China, which did not invest too much in land last year, continue to exert its strength in the land market this year. In the first half of this year, Huaxia Happiness signed an additional investment of 105.153 billion yuan, an increase of 8.9% over the previous year. In March, it took 28 plots, in May, nine plots, and in June, four plots in Nanjing.
In the second half of the year, China’s Happy Land will continue. They plan to acquire land in various ways within the total turnover of less than 20 billion yuan. This means that their total investment will reach 40 billion yuan this year.
Reporter | Flynn