Recently, a notice stated that the entire shareholding of Taihe Investment Group Co. Ltd. the controlling shareholder of Taihe Group, was frozen. Affected by the above news, on the 5th, Taihe Group's share price fell by nearly 9% in intraday trading, closing down 6.39%, and the market value evaporated more than 1.3 billion yuan from the previous day. According to public information, the reason why the equity of Taihe Investment was frozen was because it provided a guarantee of 200 million yuan for other companies. The equity freeze was also resolved quickly after one day.
Zhang Dawei, chief analyst of Zhongyuan Real Estate, believes that since the crisis last year, the market has been sensitive to any turmoil in Taihe. This is also a seemingly small problem that can also cause large fluctuations in stock prices.
Earlier, after the release of the 2018 annual report, Taihe had cited 19 questions from the Shenzhen Stock Exchange. After a long delay, Taihe responded to the inquiry, but some problems were still avoided. Among them, there are two cases of inventory-to-investment real estate and related party transactions. The net gearing ratio of Taihe at the beginning of 2018 was 475.03%, which was 384.88% at the end of 2018, and further decreased to 279.19% at the end of the first quarter of 2019.
According to a quarterly report from Taihe in 2019, Taihe’s “cash for selling goods and providing labor services” reached 17 billion yuan, and “net traffic generated from operating activities” realized 11.9 billion yuan in a single quarter. The ending cash balance was 2018. At the end of the year, the net increase was 5.75 billion yuan, reaching 17.3 billion yuan.
The media learned that the growth of Taihe relies on selling and selling. In the first quarter of 2019, Taihe launched the “No. 1 Grab” plan, and the Xifu Courtyard, which had been in the hands of the company, began to clear and sell at a minimum price of 110,000 yuan per square meter. In the first half of 2019, the Xifu Courtyard and the Jinfu Courtyard two projects, let Taihe income nearly 10 billion yuan.
xx从2019年3月到5月，泰和出售了杭州，南昌，漳州，广州，佛山和苏州的7个项目的部分股份。获奖者为福建鑫源世茂房地产; 6月24日，太和带广州庭院项目公司增城淘淘和增城亿丰分别向五矿信托出售29％的股份，回报18.22亿元，此前泰和已将该项目的51％出售给世茂房地产; 6月29日，泰国他卖掉了济南章丘项目。