On March 29, rongchuang China held the annual performance conference of 2018 in Hong Kong. Every year, rongchuang's performance conference attracted the attention of the outside world. On the one hand, it was because of sun Hongbin's witty remarks, on the other hand, it was rongchuang's rising report card every year.
According to the annual report, in 2018, rongchuang recorded a sales amount of 460.83 billion yuan, a year-on-year increase of 27%; the sales amount of equity contracts belonging to the group was 326.28 billion yuan, a year-on-year increase of 23%. Before that, in 2016 and 2017, the sales scale of rongchuang increased by more than 100%.
Sun Hongbin, chairman and executive director of the company, Wang mengde, executive director and CEO, Cao Hongling, chief financial officer and CEO, and Gao Xi, secretary and vice president of the company were present.
Regarding the judgment of the real estate market this year, sun Hongbin responded that it is unlikely that the real estate market will be greatly relaxed in 2019, and rongchuang should be more careful. The sales target for 2019 is 550 billion yuan.
Gao Xi said at the performance meeting that in terms of land acquisition strategy, he will fully judge market opportunities, adhere to relatively high land acquisition standards, and select high-end land that can meet our needs among the first and second tier core cities.
In terms of new business, we will continue to strictly restrict the investment in new business, focusing on improving the existing profitability and competitive advantage of non real estate industry, hoping to cultivate new growth points in the future. Guangzhou, Wuxi and Kunming will open in 2019.
He said that the core business of rongchuang in the future is real estate development, which will further strengthen the advantages of real estate development business and maintain and enhance the leading position in the industry.
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Sun Hongbin recovered Jia Yueting's debt of 530 million yuan with 290000 yuan of litigation costs
Sun Hongbin, chairman of rongchuang China, who suffered from blood loss due to his investment in LETV, recently finally got back some of his hard-earned money.
Previously, rongchuang real estate (an indirect wholly-owned subsidiary of rongchuang China) applied to the court for compulsory execution of LETV holdings, with the amount of the subject matter of execution of 790 million yuan. Recently, the execution procedure has been terminated. According to the court's ruling, rongchuang has recovered about 530 million yuan in arrears, and about 260 million yuan has not yet been recovered.
Among them, the debt of 530 million yuan recovered is the total equity of LETV pictures (now renamed letchuang entertainment) held by LETV holding, which has been frozen before, by the court's judicial auction. After deducting the 290000 yuan retained by Beijing Chaoyang District People's court, the remaining 530 million yuan has been returned to rongchuang real estate.
On September 21 this year, a number of LETV assets held by Jia Yueting were officially auctioned. The reason is that rongchuang real estate group applied to Beijing Higher People's court for compulsory enforcement according to the previous award made by China International Economic and Trade Arbitration Commission. The third intermediate people's Court of Beijing Municipality, after putting the case on file for execution on January 3 this year, issued a notice of execution to LETV holdings in accordance with the law.
According to the compulsory execution ruling, in order to protect the legitimate rights and interests of the applicant, the Beijing third intermediate people's court froze and transferred the bank deposit of LETV holdings, the loan interest, liquidated damages, debt interest during the period of delay in performance, as well as the application execution fee and actual expenses in the execution. If the above-mentioned measures are still insufficient to fulfill the obligations specified in the effective legal documents, LETV holdings shall detain and withdraw the income of the part of its obligations or seal up, detain, freeze, auction or sell off other property of the part of its obligations.