Real Estate Line 1 (house_163) Liang Shuang originated from Guangzhou.
At the beginning of the new year, new recruitsCountry Garden, a "300 billion real estate enterprise", issued a heavy personnel appointment and dismissal announcement.
According to Country GardenonemoonfourThe announcement on the evening of the day, there arefourA board member will be appointed this year.fourmoononeWu Jianbin, executive director and chief financial officer, and Huang Xiao, independent non-executive director.2People will resign, and the executive directors are Qu Xueming and Su Rubo.2People are retired. Country Garden Board from21Reduce people to17People.
amongCFOWu Jianbin’s resignation announced that the "Iron Triangle" lineup of Country Garden’s "Sanbin" was broken. The iteration of senior management team and the adjustment of strategy and corporate structure are the first changes that Country Garden will face when it enters the "post-300 billion" era.
One person is missing from "Sanbin"
He is the achievement of Country Garden in the past three years.An important contributor to the "geometric" growth
In this list of executives, the most striking thing is that54Wu Jianbin, aged 20, resigned because he planned to devote more time to his personal interests (photography and writing). The day of his resignation coincided with the third anniversary of joining Country Garden.
Before joining Country Garden, Wu Jianbin had already worked in China Construction and China Shipping System.30Years. He became a pawn in China Shipping Group.eightHe was the chief financial officer in 2000, and later served as the managing director and deputy general manager of China Shipping Group and the chairman of China Shipping Investment Corporation, and was the core decision-maker of China Shipping. After working in Country Garden, Wu Jianbin, together with Mo Bin, president and Zhu Rongbin, co-president of China Construction Department, were regarded as the "iron triangle" of Country Garden’s professional manager team. Among them, one of Wu’s important tasks was to bring the financing advantages of China Shipping, a central enterprise, to Country Garden, a private enterprise.
The timing for Wu Jianbin to join Country Garden is that the annual sales of Country Garden are fromfour hundredStep by step into the scale of 100 million yuan1000The first year after 100 million yuan. Known as the "dark horse", this new 100 billion housing enterprise thought that Wu would "enhance Country Garden’s financial and fund management capabilities and risk control capabilities at home and abroad, and lead the company to a new height."
Wu Jianbin has more than30Years of financial work experience, good at dancing in the capital market, once claimed to be able to use all the financing tools themselves. He once raised hundreds of billions of yuan for the company during the rapid development of China Shipping, and made great contributions. China Shipping Real Estate, which is listed in Hong Kong, is famous for its low financing cost and "making money". Wu Jianbin once said, "The success of China Shipping Group benefits from making full use of the capital market."
One thing can prove Wu Jianbin’s influence in the capital market.2014yearthreemoon19Country Garden announced the news that Wu Qiqin, the chief financial officer at that time, resigned for personal reasons. In the afternoon, Country Garden’s share price plummeted.19%; That yearfourmoon2Country Garden announced that Wu Jianbin was the chief financial officer and executive director of the company, and the company’s share price rose sharply that day.8.4%.
On the first day of Country Garden’s appointment, Wu Jianbin drew a net loan ratio for Country Garden.70%The "red line" has been maintained to this day;
Only one month after his new job, he completed the total for the company through public offering and private offering.eight100 million yuan of financing was used to replace the high-interest old debt, which saved at least one year for Country Garden at that time.1.16Interest expense of 100 million yuan;
2015In, Wu Jianbin has reduced the average financing cost of Country Garden from7%The above control to7%Left and right,2016Further decline to6%Up and down;
ExperiencedthreeIn the financial crisis, he attached great importance to cash flow and introduced "cash ratio" to Country Garden.10%"This principle serves as a" safety valve "and requires an annual rate of return ofthirty percentOnly the project can be invested.
Wu Jianbin, who has always regarded cost reduction as an important management method in his bones, has made Country Garden’s finance and even the company’s strategy adjust from the inside out. On the one hand, he pushed the company’s business model backward financially, and on the other hand, he established a stable and positive image for Country Garden in the capital market, and was good at optimizing Country Garden’s financial strength by using public offering, private placement, corporate bonds, domestic and overseas debt issuance and other channels.
It can be said that the scale of Country Garden is fromIn the three years from "100 billion" to "300 billion", the "balance" between scale and capital is particularly critical.CFOThe role played by Wu Jianbin cannot be ignored.
In the past three years, the performance of Country Garden has been realized."Geometric" growth, as well as the "partner" system created during Wu Jianbin’s tenure. At the headquarters of the Group, President Mo Bin, co-presidents Zhu Rongbin, Wu Jianbin and Vice President Wu Bijun in charge of finance initiated the establishment of "Win-Win Investment Management Co., Ltd." with a partnership term offiveYears. Wu Jianbin once said that the follow-up investment system "is the most important management innovation and change of Country Garden in recent years, which makes the core management personnel become the shareholders of the project company". by2016yearsixmoon30Day, Country Garden has existed.319This project introduces the partner mechanism,151The cumulative contract sales of the projects opened for sale reached RMB.1004100 million yuan.
Not everything is under Wu Jianbin’s control, such as the overspending of the land purchase budget.2015In, Country Garden’s land acquisition strategy changed from "deeply ploughing the third and fourth lines" to "embracing the first and second lines" and began to expand its land reserves. In this year, Country Garden took one plot of land every two days on average, and spent the whole year buying land.559.5One hundred million yuan, of which the total cost of the company’s equity is426.6100 million yuan, more than set at the beginning of the year.200100 million yuan was seriously overspent by more than 100%, and there was also a "land withdrawal incident" in Beijing during this period.2016In, Country Garden’s land expansion intensified, with an average of one new project added every day, which was spent in the first half of the year.472.3100 million yuan, set at the beginning of the year.500The annual budget of 100 million yuan is only one step away.
In his third year in office, Wu Jianbin is still working hard to solve one of Country Garden’s troubles: obviously, the company’s fundamentals are very good, and the sales scale continues to advance on the platform of 100 billion yuan, but the stock price just can’t be expressed.
Under the leadership of Wu, Country Garden from2016yearonemooneightAnnounced the implementation of the share repurchase plan,2016Accumulated share repurchases in the whole year are about8.6Billion shares, accounting for the issued share capital when the ordinary resolution is passed.3.85%, the company’s share price from2016yearonemoon29diurnal2.823Yuan Dynasty (1206-1368)/Share rise to2016yeartwelvemoon30diurnal4.34Yuan Dynasty (1206-1368)/Shares, up more than50%.
2015yearfourIn May, China Ping An became the "second shareholder" of Country Garden, which gave Country Garden a background of insurance capital in the capital market.
Country Garden has been hoping to spin off property, education, hotels and other businesses in recent years.AThe listing of shares, as well as the layout of the insurance industry, has also become an important work of Wu Jianbin. Current propertyIPOThe plan has been accepted by the Stock Exchange and is being queued; Country garden is at2015There was news of the acquisition of Daxin Life Insurance in, and it was newly borrowed that year.160100 million yuan of perpetual debt, and then the acquisition was fruitful, and it took Wu Jianbin half a year to pay off the perpetual debt; There is no new news about the listing of education and hotels.
"Only people have the world."
Country Garden’s board of directors has changed, at least inoneIt started a month ago.
2016In, the sales scale of Vanke, Evergrande and Country Garden broke through.3000The threshold of 100 million yuan. Real estate giants are facing the same new task, that is, from scale expansion to market value management.
At present, Vanke’sThe "Octopus" experiment makes the enterprise gradually become a production and investment platform, with the goal of pointing to a trillion scale; "Stock God" Evergrande ambitiously collects various financial licenses and proposes to2020Annual total assets exceedthreeTrillion; Country Garden chose to take the road of combining industry and finance, building cities overseas and towns at home. The industry once "secretly passed" Country Garden to2Enter the trillion-dollar era during the year.
No matter the real estate giants rush toWhich way "Trillion" chooses, we must use the important tool of capital market. On the new journey of Country Garden, how much energy will the new CFO and the finance committee after the change of blood exert?
Wu Jianbin is currently the executive director of Country Garden, the chairman of the Finance Committee, the chief financial officer, the agent who accepts the service of legal process on behalf of Country Garden in Hong Kong, and the authorized representative of the company under the rules of the Hong Kong Stock Exchange. After his resignation, the position of CFO will be held by Wu Bijun, vice president of the group and general manager of the financial fund center, and she will also become the new chairman of the Country Garden Finance Committee; The agent and authorized representative of the company in Hong Kong is Zuo Ying, vice president of the Finance Center.
Country garden’s new appointmentCFOWu Bijun this year43Years old, in2014yearfourSince June, he has served as vice president of Country Garden and general manager of Country Garden Finance Center. self2005Since 2000, she has been responsible for the financial operation of Country Garden Group and owns10Years of experience in real estate financial asset management and abouttwentyYears of financial management experience.
The Finance Committee of Country Garden has also changed blood because of Wu Jianbin’s departure. Country Garden stipulates that the members of the Finance Committee includethreeTwo executive directors serving as vice chairman, president and chief financial officer respectively, andthreeA financial center executive. The Finance Committee has two major powers. First, the amount of approval shall not exceedthreeA loan project or financing guarantee of US$ 100 million, and the second is that the approved amount does not exceed.oneBillion-dollar equity acquisition, current investment or acquisition, etc.
At present, the Finance CommitteethreeThe executive directors are Vice Chairman Yang Huiyan, President Mo Bin,CFOAfter Wu Jianbin and Wu Jianbin leave, another executive director, Yang Guoqiang’s nephew Yang Zhicheng, will fill the vacancy, and the executive director seat in the Committee will still be.threePeople. It is worth noting that the chairman of the Finance Committee will be newly appointed.CFOWu Bijun, but she is not a member of the board of directors at present, which does not meet the requirements of Country Garden that "the chairman of the Finance Committee must be an executive director". It is speculated that Country Garden’s senior management team may be further adjusted.
As early as six months ago, it was reported in the industry that Wu Jianbin would leave, and I believe Country Garden is also prepared for this. In fact, there are other personnel changes at the board level of Country Garden, which have already appeared a month ago.2016yeartwelveMonths,38Chen Tai was appointed as a non-executive director and entered the board of directors for the first time. His other identity is the son-in-law of Yang Guoqiang, chairman of Country Garden, and the husband of Yang Huiyan, vice-chairman and actual controller of the company. Chen Tai entered Country Garden as soon as he graduated. He watched Country Garden go from unlisted private enterprise to 300 billion at present. He also served as the director of the listing office when Country Garden went public. At present, he is the special assistant to the chairman of the board of directors of Country Garden Group and the chairman of Chuangyuan Investment Co., Ltd. in Shunde District, Foshan City. He is a young veteran of the group.
The other two retired directors, District Xueming and Su Rubo, are both90S with Yang Guoqiang "jiangshan" figure. As of2016yearsixmoon30District Xueming and Su Rubo held Country Garden’s issued share capital respectively through companies and individuals.3.46%、3.35%.
Country Garden did not explain too much about the departure of board members, but stressed that the scale of the company has come up, and there will definitely be some adjustments in the follow-up, including strategy and corporate structure.
"More outstanding talents are the focus, and some people have the world!" Yang Guoqiang, Chairman of Country Garden Group,2017In the New Year’s Day speech in 2008, every sentence was inseparable from the concept of talent, and it was proposed that "people with ability should take on more important jobs".
existAt the starting point of the new journey of "after 300 billion", Country Garden will need more "ruthless roles".