拯救“沉睡资产”！地方国资又集中卖房

Core Viewpoint - The surge in inventory in the second-hand housing market, coupled with the sudden introduction of numerous "official listings," is expected to create significant market disruption and inevitable pain points [2][13]. Group 1: Company Actions - Multiple state-owned platforms are actively selling off real estate holdings, with Beijing Tianheng Real Estate Group listing 111 properties for sale, with total starting prices exceeding 330 million yuan [2][3]. - Tianheng Group's properties include a wide range of pricing, from 18,000 yuan per square meter in high-end areas to 2,000 yuan per square meter for basic housing [2]. - The company aims to optimize its asset structure and alleviate liquidity pressure by selling these "sleeping assets," which are either leftover from development projects or previously rented out [4]. Group 2: Financial Performance - Tianheng Group reported a revenue of 670 million yuan in the first half of the year, a year-on-year decline of 13.4%, with a net loss of 390 million yuan, following a larger loss of 5.07 billion yuan the previous year [4]. - The company's asset-liability ratio has risen to 83.5%, primarily due to inventory impairment and losses from urban renewal project investments [4]. Group 3: Market Impact - The sale of properties by companies like China General Nuclear Power Corporation and Chengdu Railway Xingda Construction Company is expected to impact local real estate markets, particularly in lower-tier cities where demand is already weak [5][6]. - The phenomenon of state-owned enterprises divesting from real estate is spreading across various provinces, with significant sales reported in cities like Guangzhou and Shandong [11][12]. - Analysts suggest that this trend is driven by the need to liquidate inefficient and idle assets to prevent depreciation and to address short-term debt pressures amid a declining real estate market [12].