Recently, gree real estate released the semi-annual financial report for 2020.
The financial report shows that the operating income of gree real estate in the first half of 2020 was 2.978 billion yuan, up by 1 1.6 1% year-on-year, and the net profit attributable to shareholders of listed companies was 422 million yuan, up by 3.50% year-on-year.
As soon as the financial report came out, people became more curious about gree real estate.
0 1 gree real estate: The main business is shrinking, with heavy debts.
The financial report shows that in the first half of 2020, gree real estate's real estate sector achieved operating income of 2.655 billion yuan, up11.66% year-on-year.
At the same time, in the first half of 2020, in terms of marine economy, the sales amount of catch transactions in gree real estate was 654.38+79 billion yuan, up 367.92% year-on-year.
Compared with Evergrande's achievement of 348.8 billion yuan in the first half of the year, gree real estate's revenue is not satisfactory.
But this is the best revenue of the same period in gree real estate in recent years.
Interesting Finance learned that from the first half of 20 17 to the first half of 2020, the total operating income of gree real estate was15.24 million yuan,165438+89 million yuan, 2.668 billion yuan and 2.978 billion yuan respectively.
Looking at the semi-annual report alone, gree real estate's performance seems to be good. Although 20 18 decreased in the first half of the year, 20 19 rose linearly in the first half of the year.
It is worth noting that gree real estate's debt is also increasing year by year.
According to public information, in 20 17 years, 20 18 years and 20 19 years, gree real estate's liabilities were1901800 million yuan,195.04 million yuan and 2/kloc-respectively. In the first half of 2020, the debt was 26.43 billion yuan.
As a real estate company, it is heavily in debt. Why has its share price more than tripled since the beginning of 2020, far outperforming leading enterprises such as Vanke.
According to media reports, gree real estate has started to buy back four times since June of 200011,and the balance of table memory has increased from 47.6843 million yuan at the end of 200018 to 1006 million yuan in the first quarter of 2020.
Previously, gree real estate planned to invest in Ke Hua Bio-strategically to accelerate the layout of the big health industrial chain.
Moreover, gree real estate also plans to purchase 0/00% equity of Zhuhai Duty Free Group and apply for suspension of trading since the opening of the market in May.
Although the total revenue of gree real estate in the first half of 2020 increased by 1 1.6 1% year-on-year, with the contraction of real estate business in gree real estate and the accelerated expansion of diversified business, it is still unknown whether the annual performance in 2020 can be improved by diversified business.
Gree Electric: Wide cross-border, net profit fell by half.
In addition to setting foot in real estate, Gree Electric, a subsidiary of Gree Group, has been constantly crossing the border in recent years.
20 16 Dong Mingzhu, JD.COM and Wanda jointly invested 3 billion yuan in Yinlong New Energy, of which Dong Mingzhu contributed 6,543.80 billion yuan.
20 18, Dong Mingzhu declared his dream of making cores. 20 19 Gree Group participated in the fixed increase of Sanan Optoelectronics, one of the giants in the semiconductor industry, with 2 billion yuan.
Although Gree Group is involved in semiconductors and new energy sources, it also has intelligent equipment and services, precision molds and so on. However, most of these projects ended in failure.
Not only that, Gree also entered the mobile phone market and ended up in a hurry.
During the epidemic this year, Gree Electric diversified and took the opportunity to enter the medical industry.
According to the survey data, on February 2 1 day, Gree Electric invested 20 million yuan to establish Zhuhai Gejian Medical Technology Co., Ltd.
As a diversified development of Gree Electric, what is its operating status?
The annual performance of 20 19 shows that the total income reached 200.508 billion yuan, up by 0.24% year-on-year; The net profit was 24.672 billion yuan, down 5.84% year-on-year.
In the first half of 2020, Gree Electric's revenue was 69.502 billion yuan, a year-on-year decrease of 28.57%; The net profit was 6.362 billion yuan, down 53.73% year-on-year.
However, Midea Group's revenue in the first half of 2020 was 65.438+039.067 billion yuan, a year-on-year decrease of 9.56%; The net profit was 65.438+03.928 billion yuan, down 8.29% year-on-year.
In terms of share price, in 2020, Gree fell by nearly 14%, Shanghai Composite Index rose by nearly 10%, Shenzhen Component Index rose by nearly 30%, and Midea Group rose by nearly 20%.
Compared with the beauty that started with electrical appliances, the gap between Gree Electric and the United States is gradually widening, whether in the first half of the year or year-on-year.
Gree Electric put most of its energy into cross-border, and its revenue seems to be a little short of stamina.
03 abstract
Although, it seems to be a good move for gree real estate to achieve diversified development and join popular concepts such as marine economy, tax exemption and medical care.
However, gree real estate's main business is real estate after all. At present, its real estate business is shrinking.
In addition, the semi-annual report of gree real estate in 2020 shows that its asset-liability ratio after deducting advance payment is 75.5%, its net debt ratio is 265,438+04.84%, and its short-term cash debt ratio is 0.34.
However, the government's requirement for the "three red lines" of housing financing is that the asset-liability ratio of housing enterprises after excluding advance payment should not be greater than 70%; The net debt ratio shall not be greater than100%; The short-term debt ratio of cash shall not be less than 1 times. "
In other words, none of the three indicators in gree real estate met the national requirements.
Under the strict requirements of the government, is it good or bad for gree real estate to focus on the cross-border development of light housing industry?
More importantly, can gree real estate rely on the marine economic industry and medical equipment industry to make up for the shortcomings of its real estate industry?
Similar to gree real estate, Gree Electric keeps crossing the border.
Recently, some media reported that on September 3, 2020, Gree signed an agreement with Xiaomi.
According to the agreement, Gree Electric invested 3.545 billion yuan to participate in the investment and management of Xiaomi Industrial Fund initiated by Xiaomi Group.
At the same time, Gree Electric will focus on Xiaomi ecological chain and high-quality suppliers in the fields of integrated circuits, artificial intelligence and industrial Internet.
Focusing on cross-border development, can Gree Electric's main electrical industry recover and narrow the gap with the United States?