Greenland Holdings intends to borrow 3 billion yuan from state -owned shareholders

Greenland Holdings, a wholly -owned subsidiary of Greenland Holding Group Co., Ltd., intends to borrow 1.5 billion yuan from Shanghai Real Estate and Shanghai City Investment, Shanghai Real Estate and Shanghai City. An industry insider close to Greenland said that the disclosure of the loan form was "commissioned loan". The announcement did not mention the specific use of the loan, and it was normal for comprehensive use without restrictions.

Author: Ding Wenting

Figure: Tuwa Creative

On August 7, Greenland Holding Group Co., Ltd. (hereinafter referred to as "Greenland Holdings", 600606.SH) announced that the company's wholly -owned subsidiary Greenland Holding Group Co., Ltd. intends to provide the company's shareholder Shanghai Real Estate (Group) Co., Ltd. Shanghai City Investment (Group) Co., Ltd. borrowed 1.5 billion yuan respectively. The borrowing period is two years, and the annual interest rate of the loan is 6%, and Greenland Holdings provides joint liability for guarantee.

In view of the fact that Shanghai Real Estate (Group) Co., Ltd. and Shanghai City Investment (Group) Co., Ltd. holds more than 5%of Greenland Holdings, this transaction constitutes a related transaction.

The Economic Observation Network learned that in the first half of 2021, the overall average financing cost of Greenland was 5.61%.

An industry insider close to Greenland said that the disclosure of the loan form was "commissioned loan". The announcement did not mention the specific use of the loan, and it was normal for comprehensive use without restrictions.

As of May 18, 2022, the list of shareholders showed that Shanghai Real Estate and Shanghai City Investment were the second and third largest shareholders of Greenland, with a total shareholding ratio of 46.37%.

Shanghai Real Estate's shareholding was 3.299 billion shares, with a shareholding ratio of 25.82%. Shanghai Real Estate is a wholly -owned enterprise group company approved by the Shanghai Municipal People's Government, and is committed to becoming the most important urban renewal platform in Shanghai.

Shanghai City invested 2.626 billion shares, with a shareholding of 20.55%. Shanghai Urban Investment is a professional investment holding company approved and authorized by the Shanghai Municipal People's Government to raise, use and manage urban construction funds.

Greenland Holdings stated that this transaction is a powerful measure for the development of state -owned shareholders to support the development of the company, which helps the company to maintain a reasonable liquidity, provide strong support for the preservation of delivery and stability. Healthy and sustainable development. This transaction has no significant impact on the company's financial status and operating results.

According to the semi -annual performance of the Greenland in 2022, the amount of contract sales in the first half of the year was 68.099 billion yuan, a decrease of 58.5%year -on -year. During the same period, Greenland achieved net profit of 4.202 billion yuan, a year -on -year decrease of 48.97%.

In terms of debt, Greenland had a dividend liabilities of 17.5 billion yuan in the first half of the year, and the balance of interest liabilities dropped to about 220.1 billion yuan.

In terms of insurance delivery, the total delivery area was 9.34 million square meters in the first half of 2022, with a total of about 90,000 sets of properties.

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