Even at the crazy end of 2009, the industry did not fully believe in the strength of this state-owned enterprise in Shunyi District. Dalong Real Estate's 2009 annual report shows that the company's annual operating income is 65.438+74.8 billion, net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses is 335 million, total assets are more than 3.006 billion, net cash flow from operating activities is 86.5438+04.7 million yuan, and cash and cash equivalents at the end of the period are 255 million yuan.
According to the latest regulations, before 20 10, 80% of the land price should be paid off, that is, 4.04 billion yuan. How can a subsidiary of such a listed company pay billions of land prices, and what kind of financial leverage can incite the future?
Capital market financing may be minimal. Dalong Real Estate lost its public offering qualification because it has not paid dividends for five consecutive years. In July, 2009, the company just released the announcement of private placement financing of 800 million yuan, which has not been approved yet. As a state-owned enterprise in Shunyi District, the provider of indirect financing channels is expected to obtain the credit guarantee from the local government, but it is unrealistic to rely entirely on bank loans to pay for land.
Insiders pointed out that once Dalong Real Estate can't pay the remaining 4 billion land price, it is very likely that besides the land being reclaimed, the 200 million yuan deposit will also be "Shui Piao".