At the same time that more and more housing enterprises are involved in the "gold", four housing companies have reversed the "gold withdrawal." Evergrande Group had a 4.52 billion stake in Hua Xia Bank and then increased its holdings to 5%, but the fourth largest shareholder did not sit for a long time. After that, Evergrande turned its target to Shengjing Bank. After many overweights, its shareholding ratio increased to 36.4%, becoming the largest shareholder of Shengjing Bank. Taihe Group sold 1.23% of Dongxing Securities through a large platform, with a total turnover of 562 million yuan, and an investment income of about 420 million yuan, contributing about 300 million yuan to the 2017 net profit. The “gold-related” and selling of the two companies is more like financial investment, but the withdrawal of Wanda and Greenland seems to be related to strategy. Wanda transferred its 11.55% stake in Centennial Life to Greentown for 2.718 billion yuan, and Wanda’s credit was also reported to be mass layoffs. Wanda’s financial landscape has gradually narrowed. At the beginning of this year, there were media reports that Wanda’s internal financial group Changed its name to an investment group. Greenland has a wide range of “gold-related”. In addition to participating in four banks and one trust, it has also initiated the establishment of a small loan company with the largest registered capital in China, as well as financing guarantee companies and pawn companies. However, at the end of 2016, Greenland transferred 4% of Shanghai Rural Commercial Bank to Dianhai Holdings for 1.89 billion yuan. Zhang Yuliang publicly stated that “can’t play”. He also said, “I think real estate companies need to study and invest in financial transformation.” /p>
There are three main purposes for housing companies to “golden”, including short-term investment, strategic transformation, and financing facilities. According to industry analysts, participating banks are not able to directly finance through bank loans, but can use the bank's wealth management products to finance through trusts and asset management plans to avoid regulatory risks.
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Article Source: Leju Finance Research Institutexx