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Wen / brother Mao
Source / ID: Caimao_ shuangquan）
Eggshells are very lively these days.
The former employee disclosed that the eggshell was going bankrupt.
Eggshell said, no bankruptcy, no running, don’t talk nonsense.
Then the micro banks couldn’t sit still and said that they attached great importance to it. In order to reassure those who borrowed the rent, they generously said that they would not conduct credit investigation until March 31, 2021.
Why are banks so nervous? Because it is a cooperative bank of eggshell rent loan, a large amount of money has been lent to eggshell users. Of course, the interest rate is not low, and it is about to be scolded by the outside world. If something goes wrong, the bad debt rate will go up.
The most disturbing ones are eggshell users.
The landlord can’t get the rent, he gets angry and says to the tenant, “you call the police, eggshell owes the rent, I’m going to take it back.”.
The tenants are also aggrieved. They have paid all the money, but they are not living in vain. Why should they drive people out?
The one who was “kicked out” by the landlord was r, who lived in cuifuyuan, Beijing. The landlord said that he had terminated the contract with the eggshell apartment and wanted to take over the house. As for other matters, Xiao r had to find a way to solve it.
However, small r just paid the rent of 26248 yuan, only half a month!
So he quickly contacted the eggshell, but the phone couldn’t get through, indicating that the manual service line was full. Contact housekeeper, housekeeper said he was ready to leave, so small R had to apply for platform rent back.
When the rent is overdue, the customer has no responsibility to refund the rent when it is due in Shenzhen
Encounter this kind of thing, again gentle person also hold back to scold street?
He consulted his friends around him, but he was even more confused because some people chose to deduct a month’s rent. As a result, the refund has not been completed. Obviously, it is not so easy to get the money smoothly.
Small R’s rent is still paid by spending. If it can’t be paid within the interest free period, it will have to be phased and there will be a large amount of service charge waiting for it.
The number of such cases can’t be counted. In fact, the eggshells have already gone wrong.
At the beginning of the epidemic in February, eggshells forced landlords to reduce their rents. Although many landlords were reluctant, they still had no choice but to reduce their rents in the end. At that time, the eggshell was just listed on the New York Stock Exchange, and the landlord felt that it was just a temporary turnover problem, and he didn’t take it seriously.
A few days later, we found that the landlord reduced the rent, but the rent of the tenant increased, and more and more landlords could not get the rent on time. It turns out that the inside and outside of the eggshell are pit, so it’s very ugly to eat.
In the middle of the year, eggshell is promoting the annual rent reduction, or rent rebate, in order to get new tenants.
There’s a lot of hype here, and all kinds of defaults and complaints on the other side are going to be disastrous.
The tenant paid the cleaning fee, but the cleaning company did not receive it; the tenant paid the maintenance fee, but the maintenance company did not receive it; the tenant paid the rent, but the landlord did not receive it
Landlords, tenants, suppliers and partners have become the victims’ Alliance. They can only constantly appeal for:
“Terminate the contract, pay back the money and pay the salary.”.
Offline, they formed a rights group and visited eggshell apartment’s Beijing headquarters, Shenzhen headquarters and branches in various places to collect debts and ask for explanations.
Now, new members have been added to the victims’ Union. Some employees who have been working or leaving eggshell have not been paid for a long time. Eggshell’s branch in Hangzhou has taken off its door number.
Eggshell has always claimed that its business is normal and “it will not run away”. However, after careful consideration, we can see that this commitment is too fragile. Thunderstorms have spread all over the industry. Can eggshells be completely withdrawn?
A little difficult.
Eggshell was born in 2015. In the past five years, it gives people a feeling like this:
“The first half of the crazy burning money to rush scale, the second half of cheating and playing rogue.”.
In early 2015, Gao Jing, born in 1980s, founded eggshell apartment.
He used to work for many Internet companies, and he was also the master of his heart. He thought that he would do something before he was 35, otherwise he would be “useless”. Looking east and West, he saw the long-term apartment.
At that time, the “long rental apartment” was a gale, which could be seen everywhere.
The above encouragement, capital cooperation, so many players rushed in. Gao Jing is undoubtedly one of the best, first obtained a variety of large amounts of financing, and then quickly burned money to offset the scale.
It’s not his fault. The market was like that at that time.
How did they do it?
In 2018, a landlord’s Tucao paste brush screen, the content is very heart, a 120 square meter three bedroom, want to rent 7500 yuan / month, after free and eggshell scramble, eggshell at 10800 yuan / month price, make complaints about 44%. The landlord was very uneasy and said, “the capital is focused on renting, so we should absorb the blood of young people.”.
No matter freely or eggshell, they are the second landlords in essence. They rent their houses and then sublet them. They specialize in middlemen to earn the price difference, but they don’t need to put advertisements on the poles.
How can I get the money if I dare to raise the price? It’s too easy. There are four main sources.
● financing funds;
The landlord collects money on a quarterly basis, while the tenant pays annually, which accounts for a lot of money;
Not enough rent? The rent loan has been selected for you, and the interest rate is much higher than that of the bank;
The rent usufruct will be packaged and issued with ABS, which will bring a lot of money.
At that time, everyone hoped to grow rapidly. The winners took all the food, and the second and the third couldn’t drink the soup. So what financial risks and business risks you told people were just idle talk.
Don’t say, the market still quite recognize this, Hua Hua gives money.
When issuing ABS, eggshell set a goal for itself. In 2019, we should first manage 500000 sets. In 2020, we should have 800000 sets. In March 2021, 860000 units should not be excessive.
Eggshells started from 2000 Suites in 2015, and there are 438000 by 2019. There is also a price. It cost more than 6 billion yuan.
And then, very quickly, the whole industry fell apart, and the whole industry was about to collapse.
Small players began to be unable to hold on, and one after another, the rent chain was too fragile, and rent loans met with supervision, some big financial players fell down first.
If you burn money like this, you can’t afford to have a mine at home. It’s not easy to take domestic money. Go to the United States and continue to burn with the money of shareholders.
In January 2020, the eggshell was listed on the stock market, and since then, the stock price has been in the downward channel. The stock price dropped to the lowest of $1.27 a few days ago, 90% from the issuance price of $13.5.
Everyone is waiting to see when it falls below $1 and delisted. As a result, it has a strong reversal. It rose by 71% on the 17th. Why is it so fierce?
In fact, it’s not that its fundamentals reversed overnight. It’s because the market is crazy that “I love my family” will buy it.
After talking about it for a long time, in fact, we still have no hope for its self salvation.
From this point of view, the eggshell’s death is certain, and now it is in the emergency room.
Why so sure?
Because eggshell has three opponents, which one can’t be determined. If three opponents attack together, the probability of survival is extremely low.
The first opponent is money. The fund gap of eggshell can hardly be made up.
By the first quarter of this year, the cash and cash equivalents of eggshells were 826 million yuan, but the total liabilities were 9.027 billion yuan, and the asset liability ratio was as high as 97.06%.
And this debt, it seems, is becoming more and more difficult to pay back.
Stock market cut leek is not expected, what background funds also dare not invest, expect to earn, can only ha ha.
To what extent is eggshell short of money? The founders are desperate.
On June 18, 2020, Gao Jing was taken away by the relevant departments for investigation. There is no result now, but the core reason is that 600 million state-owned assets have been misappropriated.
A person familiar with the matter disclosed that the context of the incident is as follows:
After listing, it is said that there is no shortage of money, but Gao Jing is anxious to find a state-owned fund in Kunshan and discuss to jointly build a fund to invest in long-term rental apartments. The proportion is arranged as follows: 625 million yuan for eggshell, 600 million yuan for Kunshan state-owned fund, and 1.5-1.8 billion yuan for a state-owned asset in Anhui Province.
At that time, many people in the government objected because they didn’t trust the eggshell, but they finally passed it. After finishing the money, they found that the Anhui state-owned assets mentioned by Gao Jing didn’t pay at all, and the 625 million yuan of eggshell was borrowed back by them. The real money and silver paid was Kunshan’s fund, which was transferred by the eggshell to 550 million yuan.
Cooperation is an empty handed white wolf, so Gao Jing was investigated is normal.
Of course, the final result has to wait for investigation, but there is no wind without fire.
If they can’t deal with opponents, they will collapse even if they don’t have money.
The best way to follow the trend is to win.
At the end of the high housing prices, they increased leverage regardless of the cost to expand. If the rent keeps rising, the economy will be OK. But when their high cost layout is finished, the real estate market will step on the brake.
With the rapid development of the rental market, it is difficult for the landlords, not to mention the second landlords.
In particular, such as eggshell crazy leverage of the second landlord, will be the first to be killed by leverage.
This is a small trend, but another big trend is even more difficult to beat.
For thousands of years, the worship of land has been deeply rooted in the hearts of most people. It seems that they are born with genes. You can’t get married without a house. If you tell your mother-in-law that renting a house is more appropriate, she will be the first to oppose it.
Real estate developers are very clear about this rule. At that time, all kinds of policies encouraged long-term rent, and the major real estate developers responded in succession. However, in fact, most of them took one or two projects as an example, and basically did not move seriously. They were all experienced cycle baptism and would not rush in without calling out a vent.
The big trend and the small trend can’t be beat. So the eggshell was killed by the times, right?
It was a bit unfair in those days.
Eggshell is a kind of company with entrepreneurial posture. In fact, it is a total gambler.
Why do you say that?
At the initial stage, regardless of the cost of housing, capital requirements, time is money, which is justifiable. There are difficulties in the later stage of operation, and the capital is almost gone. There are also opportunities for decent ending. For example, if the company is sold, there is at least a guarantee for the interests of all parties.
If they don’t, they will tear up the contract they signed. If they don’t recognize the price they are talking about, the landlord can’t get the rent, the tenant has to pay tens of thousands of rents, and the decoration team wants pits and cleaning pits, so the employees will not let go
We all come out to make a living. Behind this is the livelihood of hundreds of thousands of families. This kind of company with no credit and no bottom line can’t be scolded?
Credit is a good thing to use is a friend, and a bad one is the biggest opponent.
There is still room for the lack of money. If the credit goes bankrupt, it is almost like the living dead.
Although the eggshell is still alive, it has been broken into slag
(statement: This article only represents the author’s point of view, not Sina’s position.)