Core Viewpoint - Tianheng Group is selling 111 properties in Beijing with a total minimum transfer price exceeding 330 million yuan, primarily to optimize asset structure and alleviate liquidity pressure due to a shift in business focus towards urban renewal [2][4][7]. Group 1: Property Sale Details - The properties for sale range from 1.06 million yuan to 13.97 million yuan, with a total minimum transfer price of over 330 million yuan [2][4]. - Among the 111 properties, three have a minimum transfer price exceeding 10 million yuan, all located in Beijing's Xicheng District [4]. - The majority of the properties are residential, with 59 units priced below 2 million yuan, primarily from Tianheng Lehuo City in Fangshan District [4][5]. Group 2: Financial Performance - In the first half of 2025, Tianheng Group reported revenue of 670 million yuan, a year-on-year decline of 13.4%, with a peak revenue of 13.2 billion yuan in 2021 [7]. - The net profit attributable to shareholders for the first half of 2025 was -390 million yuan, a nearly 40% decrease year-on-year, following a loss of 5.07 billion yuan in 2024 [7][8]. - The company has experienced continuous net cash outflows from operating activities over the past three years, with a net outflow of 720 million yuan in the first half of 2025 [7]. Group 3: Business Transformation - Tianheng Group is transitioning from real estate development to urban renewal, with significant capital investment and limited new project contributions to cash flow [8][10]. - The company has no remaining land reserves or new first-level development projects, indicating a shift in focus towards urban renewal projects [11][12]. - Urban renewal projects, while having long investment cycles and slow returns, are expected to provide stable income once they reach the return phase, with the "Million Garden" project anticipated to launch in October [12].
天恒集团处置上百套房产 总价超3.3亿元
经济观察报·2025-09-24 14:34