The file that card inspect can announce yesterday shows, blame of group of peaceful standing grain issues financing publicly to plan to be in break down to investigate condition. This means its do sth over and over again two years add a plan to fail thoroughly surely. But this not beyond market anticipation.
Group of peaceful standing grain was cast in May 2016 piece 9.8 billion increase a plan surely, after a few months cut for 7 billion. Later this is added surely had a news hardly, this also brings about Tai He to change debt of collect of fiducial, illicit to the financing means such as blood transfusion of impawn of equity of large even stockholder, indebted rate is climbed quickly litre.
In fact, channel of estate company financing is tightened up since last year, indebted rate tall look forward to, send insecurity more to rumor of the closest market, there already was look forward to of much home house to send debt break down since the last ten-day of a month in May, talk of break a contact is constant.
Make public information to show, on May 24, 8 billion fair collect shows the trait that enterprise of Chongqing dragon lake extends for " break down " , subsequently the company was revised declare material, take technological process again, the amount that drafts collect is adjusted from 8 billion yuan it is 5 billion yuan; On May 25, pattern year the 5 billion housing that the group drafts to issue rents debt of collect of 5 billion illicit to knock gently like that break down; After 3 days, 20 billion yuan of debenture that garden of green jade laurel drafted to issue 2016 is in after many after relapsing, once more break down. On May 29, fu Lifei is issued publicly housing rented special debenture to also encounter 2018 " break down " , this bond issues the forehead to spend for 6 billion.
Market nervousness mood begins to spread. The message says, large bank is very few already to 50 strong the room look forward to beyond extends development is borrowed and line of credit, partial bank shrinks cooperative limits even to 30 mix by force look forward to of 20 strong rooms.
Although the viewpoint thinks, project of bond of room look forward to meets with one after another " break down " , very much likelihood is technical reason, but combine be in harmony of nearly two annuity to superintend the circumstance that tightens up gradually to look, the day of room look forward to of tall indebted, tall lever is uneasy.
Indebted rate is climbed litre
Below the setting that money tightens up, cash of room look forward to flows a risk to causing market attention. The group of peaceful standing grain of all along radical dilate gets attention especially in look forward to of tall indebted room.
Money newspaper shows, up to 2018 one season end, fund of money of hold of group of peaceful standing grain twenty-four billion two hundred and forty-one million, total assets two hundred and twenty-seven billion one hundred and sixty-six million, add compared to the same period 51.4% ; add compared to the same period 61.8% .
Up to one season end, group of peaceful standing grain does not calculate handle bill, deal with due of Zhang money etc have breath is indebted for one hundred and forty-eight billion nine hundred and thirty-nine million, and dimensions of goods in stock of group of peaceful standing grain one hundred and forty-four billion three hundred and eighty-three million,
Arrive at the same time this year one season end, group of peaceful standing grain receives money remaining sum beforehand twenty-four billion seven hundred and ninety-seven million, hold money fund twenty-four billion two hundred and forty-one million,
Huang Jisen of president of group of peaceful standing grain ever expressed to hope indebted rate goes to group of peaceful standing grain to was reduced 2018 by last year 75% . But one quarterly reports shows, up to assets of group of standing grain of the peaceful end March indebted rate has been achieved 88.5% , with photograph of the corresponding period was compared last year go up again 3.6% .
From the point of cash shedding, tai He manages cash to pour out of first quarter this year 4.6 billion, investment is poured out of 5 billion, but raise fund net specified number is 17.3 billion, become among them season borrow or lend money 22.1 billion, hair debt 4.1 billion.
Tall indebted, tall lever is the general situation of eye anteroom look forward to, the method that head room look forward to answers is to shorten sale cycle, high turnover is dissolved tall indebted. However, tai He never has announced his sale status. At the beginning of this year, huang Jisen ever stated sale should turn over Tai He one time to 200 billion 2018 publicly external, draw share price of peaceful standing grain to soare, be called by play " the mouth prepares Chinese medicine by roasting it in a pan " market prise management, because this is drawn,superintend inquiry. By January later, share price of peaceful standing grain all the way be issued to lower levels, go up this round answer basically spit.
Market analysis thinks, at present group of peaceful standing grain is faced with not less than tigidity of one hundred and forty-eight billion nine hundred and thirty-nine million to be in debt, although these debt are the indebted summation of different deadline, but once company venture is exposed, debt time limit no matter accident, basic metropolis faces liquidation of a run on a bank, with Tai He the twenty-four billion two hundred and forty-one million cash in group hand affirms hard liquidate, return the house fund that receives a client beforehand to have very big gap repeatedly even.
Raise debt with debt
Group of peaceful standing grain from last year second half of the year uses all sorts of channel collect often endowment, among them very major use at borrowing old change new.
On August 16, 2017, group of peaceful standing grain releases announcement to say, blame is open 2017 issue debenture (first phase) finish issue, model of hair guild regulations adds up to 3 billion, deadline 3 years.
Be less than the time of a month, group of peaceful standing grain issued announcement on September 7, 2017 again, draft open hair not to exceed a RMB all right 2.6 billion debenture. On October 12, 2017, standing grain group was not peaceful to issue debenture publicly 2017 (the 2nd period) also finish issue, issue dimensions to still be 3 billion yuan.
Since this year, debt of hair of group of peaceful standing grain is more frequent. On January 17, the publisher outside condition of group of peaceful standing grain achieves total outside the condition the price of bond of 425 million dollar, include the bond that 200 million dollar, deadline is model of hair guild regulations 3 years, and distribute scale 225 million dollar, deadline is bond of 5 years. On March 6, group of peaceful standing grain adds the open bond that 230 million dollar, deadline is hair dimensions 3 years. On May 23, group of peaceful standing grain adds the open bond that 100 million dollar, deadline is hair dimensions 3 years again.
Up to now, 2.6 billion yuan young fair recruit still is in the brushstroke that group of peaceful standing grain drafted to issue 2017 to the middle of the circuit that makes an application greatly.
Those who be worth vigilance is, the new debt of group of peaceful standing grain is primary it is to returning dead horse.
Announcement of group of peaceful standing grain said on May 4, plan to issue do not exceed 5.5 billion blame to make public bond, plan to be used at repaying entirely debenture. With day, announcement of group of peaceful standing grain says, plan to issue do not exceed 3 billion blame to make public housing to rent special debenture, use at repaying fund of transport of debenture Wu, compensatory battalion or project construction.
In addition, group of peaceful standing grain still issued a large number of endowment canals, fiducial plan.
On Feburary 7, announcement of group of peaceful standing grain says, plan to issue assets of fund of the tail that buy a house to support bill, create group of peaceful standing grain bill of support of capital of first phase is fiducial 2018, dimensions does not exceed 1.7 billion yuan, deadline does not exceed 2 years.
Be less than a month, on Feburary 20, announcement of group of peaceful standing grain says, plan to issue period of train in excess specified length asset of square of standing grain of 54 north peaceful supports special plan negotiable securities, dimensions does not exceed 2.17 billion, deadline does not exceed 20 years.
On May 17, announcement of reappearance of group of peaceful standing grain, plan to issue Tai He property is fiducial be benefited authority assets supports special plan negotiable securities, dimensions does not exceed 400 million, deadline does not exceed 4 years.
Group of peaceful standing grain adds lever to oneself ceaselessly, and large stockholder of group of peaceful standing grain appears on the market to give company additional capital, equity almost all impawn. Newest announcement shows, hold of investment of peaceful standing grain appears on the market company 609 million, 48.97% what hold total capital stock, the share number of accumulative total impawn is 597 million, occupy its to hold 98% .
"This is a plane that does not have landing gear. " a personage inside course of study is right big rub finance and economics expresses.
