Chapter 705 (2/2)
Li Dong didn't listen until Wu Yajun asked.
Wu Yajun asked not himself, but country garden.
Country garden is currently IPO in Xiangjiang and will be listed in the next few days.
The reason why country garden is asked is not because the other party is going to be listed now, but because the listing of country garden gives other real estate enterprises a wind direction and an opportunity.
Hot!
Very hot, very hot!
Countless people are chasing, countless people are waving money waiting to enter the game.
This is the current situation in Xiangjiang. From now on, once country garden is listed, it is likely to become the largest real estate company in the mainland.
Of course, this is only about market value.
And country garden in the domestic strength, and did not reach this point, even Wu Yajun feel that his own dragon lake can touch the butt.
At this time, country garden IPO caused this hot situation, of course, she also had a few distractions.
Listening to her asking about this, Li Shoufu pondered for a moment and then said: ”the market is hot, and I have heard a little bit about it. Before that, some people even came to me and hoped that I could join the board, but I refused.”
”Why? Don't you like it? ”
”I've always believed in the idea that when everyone rushes in, get out and rush in when everyone stops playing.”
”Now the country garden is being stir fried, and there are countless followers. At this time, the first thing is that the interests will not be maximized, and once there is an accident, the loss will be maximized.”
”Under the same conditions, it is not the best choice to invest in country garden at this time.”Then Li Shoufu thought for a moment and then said, ”the other thing is that the risk is too big. Now it's over fried. I have also read their prospectus. At the end of 2006, the net assets of the other party were no more than HK $1 billion. Now, the total equity transfer of over allotment can raise about HK $15 billion, equivalent to 10 times of the net assets at the end of last year.
The most important reason why investors are optimistic about country garden is that it can get land at a low price.
Their prospectus shows that the cost of land price accounts for less than 10% of the total cost.
Many people think that this is an advantage, but in fact, in my opinion, it is just a disadvantage.
A lot of enterprises who take land at a low price and do real estate on the spot understand what they hope for. Once the situation is turbulent, the risk is too high. ”
Wu Yajun and Li Dong, several managers who set foot in real estate, all nodded. The cost of land price does not exceed 10% of the total cost. What is this concept?
Li Dong's Dongyu real estate, the land price is the big head.
Accounting for more than 60% of the total cost, on the one hand, Dongyu real estate is spending too much in this respect, team operation and cost control is not in place.
On the other hand, it shows that Dongyu real estate is regular and stable enough.
The cost of land price less than 10% is sometimes not necessarily an advantage. It depends too much on external forces.
Once there is a change, it is a bolt from the blue.
Moreover, it is not a long-term way to get land at a low price. If you can get land at a low price in Guangdong Province, it does not mean that you can get land at a low price when you go out.
If you hope to enclosure on a small area of land, even if you make a lot of money, the future prospects are not very good.
No matter whether they are doing real estate or not, they are all thinking about it at this time.
Li Shoufu no longer entangled himself in this topic. Xiang Bing, who was followed by him, said with a smile: ”this is only an internal case analysis in our course. We should try not to spread it out.”
Country garden is on the market in these days, if it is said that Li Shoufu is not optimistic, it is not fun.
Although Li Shoufu himself does not care, but once spread out, that is no reason to recruit the enemy.
This enemy is not only on the other side of country garden, but also many capital alligators in Xiangjiang.
The reason why country garden has been stir fried now has something to do with those people.
Once the listing fails to meet the expectations, the losses may reach tens of billions. How can people not bear in mind such a large loss.
Everyone quickly nodded, but Li Shoufu said with a smile: ”there's no need to be like this. Just relax and chat a few words. Don't you even let people speak?”
Xiang Bing laughed and said nothing more.
When other entrepreneurs began to ask questions, they bypassed the topic.
Ten minutes later, Li Shoufu went to the next table.
Wu Yajun approached Li Dong and said in a low voice, ”Dongzi, what do you think?”
”What?” Li Dong doubts way.
”I also thought about the listing of country garden. Once country garden is successful, Longhu will also plan to go public. But now Mr. Li says
Wu Yajun some depressed way: ”this all of a sudden, make me a little uneasy.”
Li Dong said with a light smile: ”Mr. Li said it himself. It's just his family's words. Of course, according to my opinion, it is better to be stable in the past two years. The pace of Longhu's expansion has just gone out. You are not short of money now, and financing is not necessary.
In two years, it will be more stable. ”
Wu Yajun sighed: ”it can only be like this. As for what you said is not lack of money, it is bullshit. Who else in our line of business is afraid of too much money? By the way, Dongzi, have you ever thought about splitting it out for listing? ”
”No hurry.”
Now, Dong Yu's real estate is nothing. And our land reserve is too small, even if listed, it is not necessarily popular. ”
”What about the supermarket in the distance?” Wu Yajun continued: ”you have issued bonds before, which is obviously lack of development funds. At this time, I think that you can take the remote supermarket to split the listing. According to the current market situation, it should not be difficult to raise 10 billion yuan. ”
”Wait a minute. The distant layout has not been completely completed. At this time, the listing will be pushed far under everyone's eyes, which is not in line with my expectations. ”
Wu Yajun couldn't help laughing and said, ”outsiders say that you are a glutton. You can only enter but not go out. It's true. After all, it's still you who want to eat on your own. But it's hard to eat alone. Dongzi, it's almost enough. You are now competing with yourself. Are you tired? ”
While drinking red wine, Li Dong said with a light smile: ”it's gluttonous. Let them talk about it. As for the competition, it's not. It's just that I have my own plan. Now is not the time to go public. ”
”Well, I won't say much, but this time Lao Yang over there in the country garden has really grown up. These days, I have paid attention to it. Many people in Xiangjiang are talking about their listing. At least 10 billion yuan can be raised at this time, and then Lao Yang has the money to run around. ”
Wu Yajun looks envious, but Li Dong is also envious.Although country garden is much better than Dongyu real estate at this time, it is not necessarily comparable to Dongyu real estate in terms of net assets.
The other side hoards too much land, but the debt is also high.
As a result, a simple listing, it is easy to circle tens of billions of funds to develop.
It's like Li Dong. He's half dead for 3 billion bonds.
This year, not only the real estate industry is booming, but also the retail industry.
In 2007, a large number of chain enterprises were listed in Xiangjiang, with hundreds of millions less and tens of billions more. At this time, everyone's enthusiasm was very high.
Of course, Li Dong also knows that this is only a temporary false prosperity.
When the financial crisis comes in 2008, the market value of these enterprises will be greatly reduced.
At that time, the impact of unlisted enterprises will be much smaller than those of these listed enterprises. We can only say that each has its own advantages and disadvantages.
Just as they chatted, the time went by.
We asked a lot of questions. After eating a meal for more than an hour, we actually spent less than half of the time eating. The rest of the time we were asking Li Shoufu questions.
And Li Shoufu also took the trouble to answer and explain one by one.
By the end of the meal, everyone was satisfied and felt that the harvest was quite fruitful.
Before the end of the show, there was another wave of fanaticism.
Take a picture!
First group photo, then personal photo.
They took pictures with Li Shoufu respectively, and finally, with Li Shoufu's warm farewell, they all reluctantly entered the elevator.
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