Net News: On March 30th, Capital Land held an online conference on its 2020 annual results. At the meeting, the management said that the "three red lines" were the new real estate regulations issued by the regulatory authorities last year, and no formal operational guidelines have been seen yet. In the long run, I believe that the "three red lines" should have a positive effect on the real estate industry and housing enterprises, which is conducive to housing enterprises to pay more attention to improving their ability to resist risks, optimize their asset structure and achieve healthy and sustainable development. At present, the company maintains a very good cooperative relationship with major banks. At the same time, the debt reduction plan has been launched to fully reduce the leverage level and strictly control micro-debt. Therefore, various measures have been taken to improve the relevant indicators. In the future, the company will continue to improve the "three red lines" indicators and strive to meet the standards as soon as possible.
As for the debt level of the company, the management said that by the end of 2020, the company's net capital debt ratio was 65,438+0.27%, which was 34% lower than 65,438+0,665,438+0% in the same period last year. At present, as of the end of last year, the company's interest-bearing liabilities were 97.4 billion yuan, an increase of 2.7 billion yuan or 2.9% over the 94.7 billion yuan at the beginning of the year. Although the total liabilities have increased, the increase is mainly due to the acceleration of sales payment last year, which is a positive promoting factor for enterprises. In the next step, the company will continue to focus on controlling liabilities, reducing leverage and ensuring the stability and safety of cash flow.
From the specific measures, we must first increase the payment, continue to strengthen the sales payment, and revitalize the existing assets. Last year, the contribution rate was close to 85%, and various measures will be taken to further stabilize and improve the contribution rate in the new year. Second, continue to stabilize investment, adhere to a sound and safe investment strategy, and adhere to differentiated land acquisition. The amount of land investment is mainly covered by operating income, and we will live within our means to reduce the proportion of signboards. Third, we will also strictly control costs. In principle, new financing is used to repay existing debts, and the debt scale is only reduced but not increased. At the same time, the term structure and channel structure of corporate debts are continuously optimized to keep the financing cost relatively stable.
Revision: Liu