Reporter|Chen Ronghao
Editor | Wei Wenyi He Xiaotao Gai Yuanyuan
On the evening of May 30, a "Notice on All Staff Waiting for Work" circulated on the Internet by Shenzhen Peninsula City State Real Estate Development Co., Ltd. and its subsidiary Shenzhen Peninsula City State Real Estate Co., Ltd. (hereinafter referred to as Peninsula Real Estate).
According to the content of the notice, from June 1st, all employees of Shenzhen Peninsula City State Real Estate Development Co., Ltd. and its subsidiary Shenzhen Peninsula City State Real Estate Co., Ltd. will be on duty for 6 months. If the company is still unable to operate normally after 6 months, an appropriate extension will be made. .
At the same time, for the fifth phase of the peninsula city-state that the market is concerned about, the notice stated that "the relevant procedures for the fifth phase of the peninsula have not been able to go through the relevant procedures, resulting in the company's inability to continue operating."
On the morning of May 31, a reporter from "Daily Economic News" contacted a former employee of Peninsula Real Estate, who said, "The document has indeed been issued, and it is basically what is described in the document." The reporter then called Peninsula City-State several times. All the calls left on the WeChat official account are displayed as unreachable.
To this end, on the afternoon of June 1, the reporter came to the property management office of the Peninsula City-State Project and the Peninsula Real Estate Office Building for verification.
"Belonging to the normal operation of the company"
Peninsula Real Estate is famous for developing luxury residential projects. The representative project developed by Peninsula City State is also the “Internet celebrity” top luxury project in Shenzhen.
According to public information, the peninsula city-state acquired the land in 1996, and developed the first phase in 2006. Since then, the second, third and fourth phases have been developed one after another. The fifth phase has not yet been completed.From 2006 to 2019, Peninsula City-State launched a total of 4 sales, with a total transaction value of more than 30 billion yuan. It is a rare project in Shenzhen with a single-disc sales exceeding 30 billion yuan.
The reporter of "Daily Economic News" first came to the site of the peninsula city-state. The staff of the property management office of the project said that they were unaware of "all staff unemployed" and "haven't received a similar notice". They suggested that the reporter go to the property management office of the peninsula The office inquires about the situation.
Afterwards, the reporter went to the office building of Peninsula Real Estate near the second phase of Peninsula City-State, and saw that there are security guards at the gate of the office building, and there are also staff coming in and out from time to time, and the overall operation is relatively normal.
After expressing his intention to come, the person in charge of the personnel department of Peninsula Real Estate told reporters that the documents on the Internet were true.Regarding the situation of all employees waiting for work described in the document, "the company is currently conducting statistics on employees' waiting, resignation, and graduation, etc., involving all employees of the company, about more than 100 people, and it is expected that the results will be available in 1-2 weeks."
The person in charge said that within their company, this is a relatively routine operation, which is equivalent to giving an explanation to internal employees, and did not expect to cause widespread social concern.As early as the year before the epidemic began, there was a similar operation. At that time, some employees stayed at home for two months before returning to work."Personnel waiting for a post will have a certain basic salary, and those who apply for resignation will also be compensated in accordance with laws and regulations."
Regarding issues such as the peninsula city-state phase 5 and the company's operations that are more concerned in the market, the above-mentioned person in charge said that the peninsula city-state phase 5 is still actively advancing with relevant departments, as described in the announcement.According to him, the peninsula city-state is actually one of the business segments of the Hong Kong-listed company Nanhai Holdings (00680.HK), and its overall profitability is not bad."However, because there are many business types in the group, some of them are in a state of (loss) that cannot operate. For example, the loss of Dadi Cinema will also affect us, which will bring liquidity pressure."
The holding group has suffered huge losses year after year
In fact, the reason why Peninsula Real Estate's "all staff waiting for work" announcement has attracted widespread attention in the industry has a great relationship with the characteristics of the Peninsula city-state's "Internet celebrity".
At the scene of the peninsula city-state, the "Daily Economic News" reporter noticed that the overall look and feel of the project is good. The surrounding roads are spacious, it is close to the seaside, the infrastructure is complete, and the vegetation coverage is relatively high. It belongs to the area with high living and living comfort.
The reporter learned from a third-party intermediary platform that the actual listing price of the houses in Phases 1-3 of the peninsula city-state is generally between 150,000 and 200,000 yuan per square meter.For example, in the first phase of Peninsula City State, a 135-square-meter house with 3 rooms and 2 halls is finely decorated, with a total price of 24 million yuan, equivalent to a unit price of 176,600 yuan per square meter; the second phase of Peninsula City-State is a house with 2 rooms and 2 halls of 89 square meters. The total price is 14 million yuan, equivalent to a unit price of 157,300 yuan / square meter.
However, in recent years, the peninsula city-state has started frequent rights protection incidents due to quality problems. For example, in November 2020, many owners collectively complained that "the peninsula city-state's fourth phase of the hardcover room was told to delay the delivery", saying that they had not received any statement from the developer.
According to Qixinbao data, Shenzhen Peninsula Chengbang Real Estate Development Co., Ltd. involves 90 risks. It has been listed as the person subject to execution three times since the beginning of this year, and the total amount of execution is 1.243 billion yuan; Article 51 has been listed as the person subject to execution 8 times by the court since the beginning of this year, and the total amount of execution was 1.259 billion yuan.
It is worth noting that Nanhai Holdings, which is behind Peninsula Properties, has suffered huge financial losses in recent years.
On March 18 this year, Nanhai Holdings issued a "profit warning" announcement saying that compared with a loss of approximately HK$2.53 billion for the year ended December 31, 2020, the group expects to record a loss of approximately HK$2.53 billion for the year ended December 31, 2021. HK$3 billion to HK$3.4 billion.
The board of directors believes that the above losses are mainly due to: 1.2. The real estate development segment was affected by the cyclical impact of real estate development, and its income decreased year-on-year; 2.During the year, the Group made provision for impairment of property, plant and equipment and goodwill in the cultural and communication services and creative business segments in aggregate of approximately HK$1.1 billion to HK$1.3 billion.At the same time, the novel coronavirus epidemic has repeatedly occurred in some parts of China, and the cinema industry has been negatively affected by it, which has affected the income level of the cultural and communication services segment to a certain extent.
On March 30, Nanhai Holdings announced that since the unaudited annual results could not be published on or before March 31, 2022, the company's shares are expected to be suspended from trading on April 1, 2022.In addition to the impact of the epidemic, the reasons include the impairment of certain receivables and uncertainty about the repayment or renewal of the Group's debt.Two tranches of credit-enhanced notes issued by Nanhai Holdings in May 2020 and June 2020, respectively, with a total outstanding principal of US$700 million.
