Chapter 2922 2924 [Repent]
?Several years have passed in a hurry, and in 2020, the real estate industry has suffered heavy losses.
??Real estate investment has dropped by 40%, transaction volume has plummeted, the real estate capital chain has been severely impacted, and real estate risks in third- and fourth-tier cities have surged...
Fortunately, Jingyan Group is managed by Xiang Nan, who started planning as early as three years ago, canceling projects, withdrawing funds, and reducing debt. Therefore, the capital reserves are relatively sufficient and will be less affected by the impact.
Jingyan Group is regarded as a high-quality real estate company because of its excellent financial situation.
Industry status, stock prices, and property sales have all increased.
? Comparatively, Wang Feiyu’s Xiangyu Real Estate and Yang Ke’s Dadi Hengxin were both heavily in debt due to their aggressive expansion in the past few years, buying land and building houses everywhere, and now their operations are in trouble.
?Especially Wang Feiyu’s Xiangyu Real Estate, the asset-liability ratio after excluding advance receipts is as high as 92%, and the net debt-to-equity ratio is as high as 800%. The operating situation is already quite dangerous.
Xiang Nan was not surprised by this.
?In recent years, Wang Feiyu has expanded aggressively in order to seek revenge from Xiang Nan, borrowing heavily, acquiring land from everywhere, and developing projects, hoping to make more money so that he can be more qualified to fight with Xiang Nan.
?Tang Xin is also a greedy and pragmatic person. In order to make more money, she received more commissions and bonuses, and also strongly supported Wang Feiyu''s expansion.
?Hence, Xiangyu’s development is irrational and a bit excessive.
??If they had worked so hard when the real estate market was booming, they might have succeeded. But unfortunately, the real estate industry has suffered a heavy blow.
? Xiangyu Real Estate’s asset status is now quite dangerous due to excessive borrowing. There is only one opportunity left before liquidation.
…
In 2023, the real estate market is still tense. Sales are sluggish, investment is curtailed, house prices are falling, capital chains are tight...
Fortunately, Jingyan has the backing of Xiang Nan, so nothing happened. Instead, when other real estate companies were unable to expand, they acquired many good locations, laying a good foundation for future development.
?Looking at Xiangyu Real Estate, multiple projects experienced thunderstorms.
Because they borrowed too much and were unable to repay, suppliers were unwilling to supply materials and builders were unable to start construction.
As a result, many projects that had already been started were stopped and almost became unfinished buildings. This also made the home buyers very dissatisfied, and they all asked for refunds and check-outs, which caused uproar in the city.
In the second half of 2023, Xiangyu Real Estate experienced a thunderstorm.
?The project was completely suspended, the capital chain was completely broken, due bonds and commercial bills could not be paid, and suppliers lived directly downstairs in the headquarters to collect debts... It caused a lot of noise for a while.
?Wang Feiyu was also included in the list of dishonest persons, and his end was quite miserable.
In March 2004, Xiangyu Real Estate officially announced its liquidation.
??The real estate tycoon who once intended to compete with Xiang Nan failed to recover and became a victim of the great era.
Xiang Nan was not surprised to see his fate.
In business, one has to act according to one''s ability. Wang Feiyu was blinded by revenge, so he wanted to make a lot of money so that he could compete with Xiang Nan.
?In fact, with his ability, he would never be so embarrassed if he worked steadily and steadily, and now he is still his own real estate tycoon.
As a result, I committed the word "greed" and ended up with nothing. It is really pitiful and deplorable!
Tang Xin, the vice president of Xiangyu Real Estate, was also forced to lose his job due to the liquidation of the company.
?Although she is very capable and experienced, and is well-known in the industry, no company dares to hire her again at the moment.
First of all, reducing liabilities and preserving capital are now the development strategies of almost all real estate companies. And Tang Xin is the person in charge of the project, so he has to invest money in the project. Nowadays, no real estate company dares to invest easily, so there is no reason to hire her with a high salary;
Secondly, most people who do business are superstitious. Because there is so much uncertainty in this industry, it is common for people to be poorer at three times and richer at five times, and the pressure they face is very high, so they are very particular about taboos.
??Although Tang Xin is capable, after all, he has just lost a company. In this case, no company would dare to hire her rashly. As a result, Tang Xin was unemployed for a time.
??Although with her savings, it doesn’t matter if she doesn’t work. But as a strong woman, she needs to have the feeling of commanding thousands of troops, speaking the right words, and commanding with determination.
Leave her idle at home and be a housewife, she might as well be dead.
?So Tang Xin finally decided to start her own business. She used her savings over the years and used her connections to get an investment to start a cultural tourism town.
It is to build a small town on the outskirts of the city to attract tourists for sightseeing and consumption, and then build real estate and sell it.
This business model is not uncommon in the country.
But it is a pity that as people''s horizons broaden and their appreciation level increases, this type of cultural tourism town that was created mechanically has been gradually replaced by the lack of cultural heritage, excessive commercial elements, and serious homogeneity. Consumer abandonment.
In the end, Tang Xin’s cultural tourism town project fell through, and the investment of 500 million yuan was wasted. Tang Xin was also listed on the list of dishonest persons due to huge debts. It is estimated that it will be difficult for her to make a comeback.
Xiang Nan was deeply saddened to learn about her fate.
?This is called "being greedy turns into poverty". If she had stayed in Jingyan Group, she would still be the project department manager, and even the vice president and president.
But she was too greedy and wanted to make more money. Now, she can no longer make any money.
…
In 2025, Dadi Hengxin also suffered a thunderstorm because it was unable to pay its due bonds.
?Yang Ke has succeeded as the president of Dadi Hengxin at this time. He is struggling to maintain the situation and raising funds everywhere, hoping to turn the tide and save Dadi Hengxin.
But in the end, it was still powerless and it was difficult to reverse the defeat. Finally, in 2027, Dadi Hengxin was also applied for compulsory liquidation by its creditors.
?Although Yang Ke did not borrow money from the private sector like Xie Jiayin and Tang Xin, he escaped the disaster and did not become a bad guy, let alone be on the list of dishonest persons.
But as a man who pursues his career wholeheartedly, he has been struggling for half his life, but his career has failed completely, which makes him very depressed.
Comparatively, Jingyan Group has Xiang Nan inside and Fan Jingang outside. I dare not say that the development in recent years has been rapid, but it is also outstanding.
The market value has increased more than five times compared to ten years ago. Not only is it the largest real estate company in Hujiang, it is even expected to compete with real estate companies across the country.
Seeing this scene, Yang Ke was even more sad.
?If he had not made any plans to change jobs, then the positions of vice president and president would probably be his.
?Fan Jingang''s ability is far inferior to him. If he hadn''t left the country to become an expert, there would have been no chance of Fan Jingang''s success.
But now Fan Jingang is a leader in the real estate industry in the country, but he has become a lost dog.
Comparing the two, how can we not feel desolate.
(End of this chapter)