10 On the evening of August, Xuhui Holding Group (00884.HK) announced that it planned to sell 60% of its wholly-owned subsidiary for HK$ 674 million, including a sale loan of HK$ 654 million. The transferee is the company controlled by Lin Zhong, Lin Wei and LAM Raymond (both directors and controlling shareholders), namely the major shareholder of Xuhui.
This means that the three brothers Lin will inject liquidity into the company from their own pockets. According to the announcement, the total net equity sale of HK$ 673 million will be used as the general working capital of Xuhui. Xuhui, a subsidiary, holds all the rights and interests of the building located at King's Road 10 1 in China Special Administrative Region. From 2065438 to 2007, Xuhui invested HK$ 664 million to acquire the above-mentioned project shares from Hong 'an Real Estate in the form of acquiring 50% shares of the project joint venture company and sales loans (about HK$ 256 million). According to the disclosure, once the transaction is successful, Xuhui will make a profit of about HK$ 654.38+million. In the early morning of August 10, Xuhui's share price rose slightly by about 2%.
According to the unaudited operating data previously disclosed by Xuhui from June 20438 to July 2022, Xuhui's cumulative sales amount this year is about 70.24 billion yuan. Similar to other peers, Xuhui's sales data decreased by more than 50% compared with 202 1.
Industry liquidity is still tight. In addition to sales rebates, housing enterprises can only rely on their own capabilities to ensure liquidity. Previously, Xuhui management has increased its holdings of Xuhui shares many times to ensure the company's credit and status in the capital market. On July 27th, Xuhui announced that the controlling shareholder Lin's three brothers bought 500,000 shares of the company in the open market through their related parties. As of that day, Lin's three brothers bought 2.5 million shares of Xuhui in the open market through their relationship.
Throughout the market, a number of controlling shareholders of housing enterprises have launched a series of support actions. On August 7th, two major state-owned shareholders announced that they would lend 3 billion yuan to Greenland, which means obvious blood transfusion.
It is also a last resort for private enterprise bosses to inject liquidity into the company. There is Sun Hongbin, the head of Sunac China (0 19 18). HK), and now there are three brothers Lin, the major shareholder of Xuhui. On the evening of 20021114, Sunac China announced a rights issue financing, and Sun Hongbin lent money to the company. Sun Hongbin provided the Group with its own capital of US$ 450 million in the form of interest-free loans to support its business development. Today, the three brothers Lin injected cash flow into the enterprise by acquiring the equity of the project.
It is worth mentioning that Xuhui and Greenland have the same effect in increasing the mobility of enterprises. The only difference is that Greenland is a mixed enterprise with state-owned background, and Xuhui is a private housing enterprise.
On August 10, the share price of Longhu Real Estate, the champion of private housing enterprises, plummeted due to rumors that commercial tickets were overdue. In the afternoon, Longhu management held an emergency investor meeting to clarify, and then the Shanghai Stock Exchange also announced that Longhu had no commercial tickets overdue. In August 10, the share price of Longhu Real Estate rose by more than 9%. The credit of private housing enterprises is in jeopardy, and it is done and cherished.
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