“100 billion Hebei King” performance plunged 98 percent, serious debt crisis

2022-05-14 0 By

Recently, Rongsheng development released the “2021 annual performance forecast”, the report shows that the company’s net profit is between 100 million to 150 million yuan, net profit after deducting non-recurring gains and losses 52,098 million yuan to 102 million yuan, basic earnings per share 0.02 yuan -0.03 yuan/share.It can be seen that the performance of Rongsheng development in 2021 declined significantly compared with the same period last year. The net profit in 2020 is 7.5 billion yuan, and the net profit in 2021 is expected to be 125 million yuan.Dagong international, Moody’s and other rating agencies, successive downgrades rongsheng development rating, judging its financing risk is larger.In fact, Rongsheng Development has long been heavily in debt. By the end of the third quarter of 2021, Its total assets were 288.611 billion yuan, its total liabilities were 236.85 billion yuan, its net assets were 51.761 billion yuan, and its asset-liability ratio was 82.07%.According to the latest updated data of the mini program, Rongsheng Development has refused to pay 7,612 commercial invoices, involving a total amount of 2.528 billion yuan, and there are 20,256 outstanding invoices, totaling 5.949 billion yuan.With the cooling of the real estate market in Beijing, Tianjin and Hebei and the tightening of the financing environment, Rongsheng Development will have a difficult year in 2022, and the debt crisis will certainly continue to worsen.