Even Chen Li didn't guess that Xiang Qiang used the capital channels of Yuehai Investment to buy Wanbang Real Estate's stock for several consecutive days, and today he still held a stake in Wanbang Real Estate without any concealment.

According to relevant provisions of the Securities Law, after today's announcement, Xiang Qiang will need to continue to buy Wanbang Real Estate's stocks within three working days. If he wants to sell the stocks he holds, there will be a lock-up period of up to six months.

No matter what Xiang Qiang's intentions are, plus the two-day weekend break, Han Zirui and the others have five days to breathe and discuss countermeasures and raise funds.

As for Xiang Qiang's bid for Wanbang Real Estate, what is the reason why it is very likely to continue to increase its holdings in Wanbang Real Estate in the future, financial media and analysts also published a large number of analytical articles on major websites that night.

In addition to Wanbang Real Estate and Nanhua Group, which have been planning project layout in major first- and second-tier cities in China since the mid-1990s, Wanbang Real Estate has used 70 billion yuan of huge funds from the end of last year to the third quarter of this year to accelerate the reserve of construction land and real estate projects through project mergers and acquisitions, cooperation and land auctions. The land reserved for the planned construction project is calculated based on the construction equity construction area, up to 31 million square meters, and it still ranks first among many domestic real estate companies, once again leaving Xinrui City behind. This has led to the financing resources of Zheng and Han families being squeezed to the limit, and it may also be the key reason why Xiang Qiang raised his bid for Wanbang this time.

Due to Xiang Jingyi's death and subsequent internal personnel turmoil, Nanhua Group delayed until the end of the third quarter of this year and began to accelerate the acquisition of land in first- and second-tier cities. However, at this time, the real estate market in major domestic cities had already accelerated growth, prompting almost all real estate developers to accelerate land acquisition. The result of fierce competition was that the prices of residential and commercial land in first- and second-tier cities in China had a more rapid increase compared with housing prices.

In early July, Xinrui City won a new high-rise residential construction land on the north bank of Longchuan River in Pujiang. The floor price has exceeded 22,000 yuan per square meter, and the housing price in Jinchen Yueyuan has also exceeded 40,000 yuan per square meter; and luxury residential buildings within the central Pujiang River have frequently exceeded 60,000 yuan per square meter, such as unimaginable sky-high prices such as unimaginable past.

While land prices are high, the State Council wants to curb excessive growth in the real estate industry and issue a document requiring party and government agencies in major domestic cities to introduce severe measures to limit the supply of residential construction land.

These factors have caused the reserve construction land in Nanhua Real Estate to be calculated by the end of the third quarter, which is less than 8 million square meters, ranking the last few of the top 20 listed real estate companies in China to be squeezed out of the first camp. If Nanhua Real Estate’s construction and sales plan are based on the end of next year, Nanhua Real Estate may be in a situation where there is no house to build and sell.

If Xiang Qiang can use relatively cheap chips to acquire the controlling stake in Wanbang Real Estate and encourage Nanhua and Wanbang to cooperate in project construction, it will indeed be a convenient means to make up for the shortcomings of Nanhua Real Estate.

Of course, there are also articles pointing out that after Xiang Jingyi passed away, Nanhua Real Estate not only experienced internal personnel turmoil, but also received two bids from outside, indicating that the internal and external ability to strongly oppose Feng.

The strong bid for Wanbang Real Estate may be a way for Xiang Qiang to express his or her tough attitude to the outside world and prove his or her own abilities, or it may be a manifestation of Xiang Qiang's paranoid personality.

Seeing such an analysis article, Chen Li could only smile. It was obvious that someone was sure of Xiang Qiang's character, coaxed him and carried him to the alley of acquiring Wanbang, which still had no idea of ​​life and death.

Of course, when Xiang Qiang was interviewed by a financial media over the weekend, he talked about the bidding of Wanbang Real Estate, and he was full of laughter and laughing, insisting that this was purely a financial investment, but it is not ruled out that there is a possibility of continuing to increase his holdings in Wanbang Real Estate in the future.

Regardless of whether there are Zhao Yuan, Lu Wenbing and others behind it, or whether it is because Lu Wenxue blows the pillow style, Xiang Qiang's style is far less generous and smooth than his father Xiang Jingyi, and his temperament is quite irritable and paranoid. Chen Li predicts that Xiang Qiang's chances of a fake shot are not high, which means that Wanbang Real Estate will fight a tough battle next.

Domestic securities regulatory regulations have extremely high restrictions on the implementation of the poison pill plan. Wanbang Real Estate has not even implemented the poison pill plan. It is possible that the possibility of reverse curbing the possibility of malicious acquisitions is to compete for the voting rights of the shareholders' meeting, and then firmly control the board of directors of Wanbang Real Estate in its hands so that Wanbang Real Estate will not lose its hands to others.

Considering the subtle impact of Zheng Cong's removal, it may make some major shareholders have different ambitions, which also means that Zheng and Han continue to increase their holdings of 8% of their shares, and the total holdings of Zheng Wenyuan reach 30%, may not necessarily capture control of Wanbang Real Estate.

To be on the safe side, Zheng and Han families need to increase their holdings by about 13% in order to dispel the idea of ​​fighting for control of Wanbang Real Estate.

Based on Wanbang Real Estate's current share price, increasing its holdings by 13% will only require 13 billion to 15 billion yuan, which is not very terrifying, but Wanbang Real Estate's share price cannot stay at around ten yuan.

Considering that Wanbang Real Estate's relatively loose chips sold out in the early stage, it has been eaten by Zheng Wenyuan and Xiang Qiang, if Han Zirui and others wanted to use a large amount of funds to compete with Xiang Qiang for chips, plus a large amount of speculative funds attracted, it is not difficult to imagine that Wanbang Real Estate's stock price will rise further rapidly.

Wanbang Real Estate's stock price may have to rise to 17 or 18 yuan or even higher before it can be a large transaction, which means that Han Zirui and the others will have to raise 200 to 25 billion yuan to be more confident in winning this battle to defend the equity.

Of course, Chen Li fulfilled his promise to Zheng Suxin and raised 5 billion yuan to lend it to Zheng Wenyuan, even if he had fulfilled his friendship, he would not interfere with the normal operation of Xinchaorui because of other things. Even because the funds under Zheng Wenyuan's name were bought 4.9% of Wanbang Real Estate's shares through Chaoying Investment, Chen Li knew that Wanbang Real Estate's share price would rise further, but he had no way to buy back Wanbang Real Estate's shares through Chaoying Investment, and hold it for the increase.

However, Han Zirui and the others obviously did not let go of their vigilance against Zheng Wenyuan and Chen Li. Even though their fundraising was far from being as smooth as they expected, they did not express their hope that they would continue to increase their holdings.

As a result, Chen Li and Zheng Wenyuan could only lock their positions as promised; at the same time, they did not want to make people upset. Chen Li and Zheng Wenyuan did not ask about the specific situation of Han Zirui and the others raising funds, and they did not go to Lu Chuanxue and Zheng Suxin for dinner in the past few days.

Chen Li, Zheng Wenyuan remained unmoved, and Han Zirui and others had already been squeezed to the extreme because their previous financing resources had been squeezed to the extreme. By Monday, the funds raised were only 900 million, which was far lower than expected. If Xiang Qiang still wanted to continue to increase his holdings in Wanbang Real Estate, it would take until Thursday due to the restrictions of relevant regulations. In theory, Monday should be a relatively calm day.

However, when trading on Monday, a large number of buy orders were still pouring in, pushing Wanbang Real Estate's stock price to continue to rise by five points, and then it maintained a shrinking volume fluctuation at around 11 yuan per share.

Eleven yuan per share is the relatively fair price of Wanbang Real Estate. Even so, Wanbang's price-to-earnings ratio is only fifteen times. So at this time, many investment institutions and investors also boldly follow up and buy, which will lead to a large number of chips being locked by these investment institutions.

Perhaps after Wanbang Real Estate was raised, the market re-recognized the value of Xinrui City's construction reserve land hidden under its net assets and current profits. This led to Xinrui City's stock being bought by a large number of investment institutions on Monday, which caused the stock price to rise by 8% that day, becoming the focus of attention. Some media also speculated that this equity acquisition war in the real estate industry may spread to Xinrui City.

However, in addition to Xinchaorui Real Estate directly holding 35% of Xinrui City's shares, Chen Li also directly holds 15% of Xinrui City's shares. Adding these two together, the shareholding ratio is already 50%. Chen Li is not afraid that others will have any covetousness about Xinrui City's controlling rights. Moreover, Chen Li can directly obtain the detailed transaction data of Xinrui City from the stock exchange that day. Seeing that the investment institutions that increased their holdings in Xinrui City on Monday were mainly public funds and social security funds.

The rise in Xinrui City's stock price can be said to be purely due to these investment institutions' re-recognition of the value of reserve construction land held by Xinrui City.

As of the end of October, the accumulated sales of Jinchen Yueyuan have been less than 10 billion yuan. Based on the current unit price of 40,000 yuan per square meter, the single project of Jinchen Yueyuan has not released any excess profits of more than 25 billion yuan.

In addition, Xinrui City has significantly increased the scale of construction land reserves through mergers and acquisitions, auctions and other means in the past year. The planned construction projects to be calculated based on the total construction area, and the cumulative amount has reached 25 million square meters.

The most critical point is that the construction land available for Xinrui City is mainly affected by the subprime mortgage financial crisis in 2008 and the domestic land and residential markets have been heavily purchased during the depression. Even if factors such as land value-added tax are taken into account, the average cost is nearly half the cheaper than that of a year later.

According to traditional audit methods, Xinrui City's current net assets have just exceeded 50 billion yuan, and bank loans, debt issuance and accounts payable are all calculated. Xinrui City's liabilities are about 50 billion yuan at this time.

However, if the value of construction land held by Xinrui City is adjusted based on the new market price, Xinrui City's current net assets should be adjusted to 100 billion to be considered reasonable.

In comparison, the market value of Xinrui City at this time is only 85 billion, which is obviously a bit low. Moreover, Xinrui City's net profit this year will also be conservatively estimated to reach 8 billion, with a price-to-earnings ratio of only ten times; it is significantly lower than that of listed real estate companies of the same scale such as Nanhua and Wanbang.

The attention of the securities capital market was attracted by Wanbang Real Estate's equity acquisition war. In addition to Xinrui City, the stocks of other listed real estate companies also attracted attention, causing the entire real estate sector to surge by more than ten points in the half month in early November.

The market value of Xinrui City has also returned to 100 billion yuan - this is the peak of the market value that Xinrui City has seen in the bull market in 2007. After the stock market crash in 2008, Xinrui City's market value fell to 50 billion yuan at the lowest, and was once believed by the market to never return to this position within three to five years.

Unexpectedly, just one year later, the market value of Xinrui City also reached a high of 100 billion.
Chapter completed!