![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/base/copper-d.gif)
Evergrande Deploys 500 Barco Digital Projectors in New Cinema Chain
Evergrande Real Estate Group (3333.HK), one of the ten largest real estate developers in mainland China, is expanding its business to the cinema industry. In an initial phase, the Evergrande Cinema Line is building 77 cinema complexes in residential neighborhoods across the country, five of which are already operational. To equip the theaters with the latest digital cinema projection technology, Evergrande is teaming up with digital cinema leader Barco, who will provide over 500 of its 2K digital projectors, including the DP2K-32B and DP2K-20C units.
Evergrande Cinema Line Management Co., Ltd. is a wholly owned subsidiary of Evergrande Real Estate Group specialized in cinema investment, operation, and management. Relying on the Group’s commercial and residential developments and urban complex projects, the company is constructing first-class, fully digital cinema complexes across 22 provinces, autonomous regions and direct-controlled municipalities in China. Five theaters have already gone into service. Evergrande Cinema Line plans to build another 30 theaters with more than 210 screens in 2014, toward a total of more than 150 theaters and 1,100 screens by the end of 2016.
恒大分兵商业地产
If you are the retail industry practitioners, there may be Hengda recent recruitment advertisements hit.
Recently, Hengda Business Group is for its supermarket companies, department stores and cinema companies to recruit staff. Hengda official website, the Hengda Business Group Corporation is a wholly owned subsidiary of Evergrande Group, Evergrande Real Estate Group is responsible for operational management in over 130 major cities in more than 300 commercial projects. Commercial projects covering a variety of types of business forms Dishang community, business center, Hengda Studios, large centralized commercial, commercial complexes, are currently managing a total business area of operations over two million square meters.
Hengda said Hengda commercial business group with a total area of management operations will more than 4,000,000 square meters, total assets reached 100 billion business.
Insiders said that the retail industry for Evergrande residential project to upgrade its facilities, construction of urban commercial complex into operation speed, but may also bring new challenges.
Pull the mall with cinema
If Wanda Commercial Plaza with cinema pull Hengda wants to use theater leveraging community mall.
Hengda blueprint for commercial real estate outlook is this: it is located in Chengdu's 10 large commercial complex projects and more than 130 projects will be opened Hengda Studios operations, coupled with continued construction of community business projects have been put on the market, The total area of commercial business will Hengda Group management operations will more than 4 million square meters, total assets reached 100 billion business.
In January this year, Evergrande Studios first taken a substantial step, namely the construction of four small mall with a cinema in Zhongshan, Xi'an, Yueyang, Danzhou four cities of the project. Future projects will cover Hengda theaters nationwide 17 provinces and autonomous regions, and total more than 150 theaters.
"Hengda Studios" is a small four-storey commercial building, set in a residential area. Which is 1-2, 3-4 checkerboard floor shops are Hengda theater, with a total area of 10,000 to 20,000 square meters. Studios hope to provide life support and entertainment services for the community and surrounding residents. Official website, the business model known as Hengda this community theater mode. Merchants department of Hengda multiple items are explained, "is actually a community theater mall anchor stores."
Wanda Cinema regional company manager Chen, Hengda end of last year received an invitation, hoping to join Hengda Studios. Due to rapid expansion, Hengda also hope that Mr. Chen will coil around the yard of the hospital practitioners are introduced over.
Chen did not agree Hengda final offer. One reason is that he thinks Hengda want to bring theater to the mall traffic, the goal is not the operating theater itself, "not even to mention revenue requirements."
Followed by a slower rate of expansion than the plan. "Hengda introduced this year to open 25 Studios, next year to open 70." Chen said:. "But they (Hengda) in 2011 when he has said so."
According to incomplete statistics, the Economic Observer reported, in addition to the four open in January, Tatung, Liuyang, Yueyang, etc. Hengda Studios will be open in June. Meanwhile, in order to have the theater as a gimmick, the other floors Studios investment work is also in progress.
Hengda communities in four-tier cities, "are very difficult to open a convenience store to come here, not to mention theater," Chen believes that this kind of community theater is very difficult to survive.
However, there is a theater Studios have brought business to other merchants. A merchant Studios in Hengda, the person in charge of the Economic Observer newspaper said that the crowd Studios attraction to a certain extent, especially at night time viewing of popular, his shop would mainly rely on this time to make money.
Economic Observer newspaper reporters learned in a third-tier cities, Evergrande community houses more than 4000 units sold, plus the surrounding residential area of population, the film area has formed a dense human settlements. However, the owners need to drive to the mall to watch movies from outside the two stations, the lack of supermarkets nearby convenience store.
According to the company's business management department official in an area Hengda introduced, only one form of community theater, cinema Hengda company will do more large-scale theater, the venue is a commercial complex in vivo in Hengda.
Department stores, supermarkets, amusement
As early as the first half of 2010 results conference, Xu Jiayin once said, Hengda the timely intervention of commercial real estate. The so-called "time" refers to wait Hengda have enough cash flow and scale of support.
Xu Jiayin said that when the four indicators have reached the industry's first, will put great efforts Hengda big commercial real estate. These four indicators are land reserves, construction area, sales area and sales amount. It was revealed that the expected timing of commercial real estate will come in the second half of 2011, the goal is a landmark urban complex to the main capital cities and developed cities.
2011, Hengda Liaoning Fushun city government side won land, the construction of the first called "Hengda Plaza," a large urban complex project, covering shopping centers, malls, hotels, office buildings and other formats, including. Statistics show that this year, the company set up a business group. Since then, the company has to create "Hengda Square" in Guilin North Rail Station and other places. There was propaganda display, Hengda Group's proprietary commercial brand merchandise Hengda Hengda SPA water will, Hengda KTV, Hengda Studios, video game Hengda Hengda health club, will further boost Hengda Group orderly development of commercial projects.
Today, these four indicators are still some had not reached the ideal Xu Jiayin, but Hengda tourism complex project and landmark commercial complexes have moved into the investment period, including Chengdu, Ningbo and other 10 large commercial complex project .
Some media said Xu Jiayin, announced in an internal meeting to build "an upgraded version of Wanda Plaza." To this end, Wanda Hengda also learn to set up department stores, supermarkets and amusement management company management company in the business group, fully into the retail industry.
According to the official website of expression Hengda Hengda department store business area of 30,000 square meters, relying on commercial projects nationwide Hengda and commercial complex project, to build a strong brand Chinese department store chain; while Hengda supermarket is expressed as an operating area of 1000-8000 meters, as the main life support in Evergrande projects and large-scale commercial projects in 2015, the number of supermarket stores nationwide Hengda will more than 300.
Hengda a central region of the company's business management department, said: "Hengda department will then enter the commercial complex, which is currently in some remote location supermarkets residential projects have been stationed." The source, community and city commercial complex projects Investment by the regional companies, business groups are responsible for guiding, assisting operators commercial projects.
Jones Lang LaSalle head shops in Guangzhou and Shenzhen Lin Shisong opinion, these moves seems to replicate Wanda mode. "Wanda shop business model is in the point of sale of residential, quick return of funds which, through their own stores, but also quick access to the commercial part of the operational state."
Or in Fushun Hengda Square. Last October, the project signed a strategic cooperation agreement with the merchant. In addition to the local shopping center in Northeast New Mart, as well as Watson's alleged child king and other brands. Hengda theaters, Hengda KTV, SPA water will more than Hengda Hengda own retail brands are among them.
Although it is a landmark urban complex, but Hengda project, after all, in the four-tier cities. North China Hengda a company's business management department source said: "own retail brand better meet their rate of expansion."
Sale and leaseback
Hengda came in for its commercial companies recruiting at the same time, an unconfirmed news that some of the new project is not located Wanda main department stores.
Under the impact of the electricity supplier, department stores, supermarkets and other formats situation. Publicly available data, this year April 50 national key large retailers retail sales fell by 7%, which is the second year of negative growth in retail sales in January-February, retail sales fell reappears; first quarter of this year, 50 key large retail business retail sales grew only 0.1 percent, a sharp slowdown in the growth rate of 9.1 percentage points.
Wanda department store in a former executive opinion, Hengda has a wealth of real estate resources, but it is a necessary, but not self-sufficient department condition. "Only to find the right department store business model, so they are not to become engulfed department cash flow business."
Hengda whether there is sufficient funds to support the retail industry? 2013 performance data show that Evergrande in 2013 benefited from the sales return, the net debt ratio decreased by 14.7 percentage points, down to 69.5%. But S & P, Moody's and other rating agencies still think Hengda debt leverage ratio is the highest real estate developers one. The reason is that the issue of 25 billion last year Hengda perpetual debt. On the financial deal with the perpetual debt instruments are included in the permanent capital, counted as an asset rather than net debt. However, debt sustainability should not ignore the nature of the debt rating agency said.
Time data display, Evergrande had cash 53.65 billion, but more than the cash from borrowings. 2013 year net increase of 48.55 billion borrowing, 108.8 billion at the end of the loan balance.
Seen in this capital position, fully involved in the retail industry is the existence of pressure.
Community theater functions are not limited to attract customers, but also to attract investors. Currently, a number of shops have been divided Hengda Studios sale or whole sale, sale and leaseback agreement with the owners. One Studios project had played "five-year return of 50% stable, consistent returns 350 yuan a day" conditions.
Hengda Studios close to sources, because the shops Studios has signed a contract with the investors, only a fixed rent, fixed period of foreign leasing, investment process is quite passive.
Lin Shisong introduction: "sale leaseback is in fact selling rate of return may hide some of the handling of financial skills in order to achieve the agreed level of return on rent commercial projects may exceed the average market rent levels because this part out of the high rent. assets assessment project may do more than the estimated tens of millions. "
Linshi Song said, real estate developers to do the retail industry, there are more successful Li Ka-shing. Hutchison Whampoa company its all PARKnSHOP, Watsons and other retail companies, through the spin-off, the financial pressure is transferred to the capital markets.
Not only are studios, urban complex project commercial street shops communities is also currently exploring the sale and leaseback agreement with the investors needs.
A senior business investment advisers, is leased to the seller if the sale and leaseback own retail companies, these retail companies is the "collaborative unit", together the asset value of commercial property valuation is high.
Wanda stores these former executives believe that the domestic department stores are still exploring, trial and error stage, but homogeneity is very serious, not only the management, service delivery, and even engineering are converging. "If you do not have to creatively explore Hengda new consumer needs and provide new and different with the general services department, I think, it is not the department stores and other retail industries do a good time." The executive said.
No comments:
Post a Comment