On June 8, Wen Wenya, general manager of Sichuan Huawei Property Management Co., Ltd., popped up a news on his mobile phone: Wanda Property will be sold by Wanda Group, and four companies including Zhongmin Property and Vanke Property will bid for it. The amount involved will be the largest case of property acquisition in China.
At that time, he didn’t know the connection between this news and Sichuan. One of the bidders for Wanda Property and the person in charge of Zhongmin Property in Sichuan recently confirmed to reporters that it had officially entered Sichuan at the beginning of the month to start the merger. Zhongmin Property is one of the eight key sectors of China Minsheng Investment Co., Ltd., the largest private investment group in China. Through the integration of holding and equity participation, Zhongmin Property was established only one and a half years ago, with a management area of 140 million square meters.
The insiders believe that the entry of Chinese property into Sichuan will intensify the competition among the giants for Sichuan property management enterprises, accelerate the integration of property management industry and completely change the industry ecology.
Giants speed up staking. Companies with a valuation of 5 million yuan talk about 50 million yuan.
Wen Wenya claims to be "living a good life"-the company manages about 4 million square meters of residential quarters and has a fixed income every year. However, when the person in charge of Zhongmin Property came to the door a week ago to propose a merger, Wen Wenya did not refuse. "The conditions he proposed are worth talking about."
The condition of Zhongmin Property is to acquire 51% equity to control his company. After the merger, the former promises not to interfere in its operation, and at the same time, it will introduce commercial resources such as finance and pension. The above-mentioned person in charge said that the target of equity merger and acquisition is the provincial property management company with a management area of more than 3 million square meters. "Industry consolidation has begun." Wenwenya paused and said, "If small and medium-sized properties are acquired sooner or later, why not consider a bigger company?" He believes that the property management industry lacks a price adjustment mechanism, and the labor cost, which accounts for more than 70% of the cost, is increasing year by year, but the property management fee is unchanged all the year round. If the giants are further squeezed, it will be difficult for SMEs to survive. The reporter learned from many sources that at least 13 property companies in the province, such as Chengdu Jiayuan Property, are also in contact with Zhongmin Property.
Since last year, Sichuan Jiabao Property, Vanke Property, Heda United Bank Property, China Shipping Property, etc., which have always only accepted the parent company’s real estate, have all started to acquire enterprises and undertake projects; Entering this year, the bidding among big bosses has become increasingly fierce. In May this year, Poly Property joined the Battle Group. Zhao Xiaying, Secretary-General of the Board of Directors of Chengdu Heda Lianhang Property Services Co., Ltd. revealed that the premium for the acquisition of property management companies by all parties has soared to 10 times-the property management company with a third-party agency valuation of 5 million yuan, the acquirer directly "adds a zero" and talks about equity mergers and acquisitions at a price of 50 million yuan.
Zhou Yong, deputy general manager of Chengdu Vanke Property Services Co., Ltd. said that last year, the company mainly exported APP platforms and technologies to other property management companies for free, indirectly mastering more owners’ resources; This year, it directly acquired and controlled the property management company. "This way is faster and more secure."
According to the china property management institute report, the top 100 domestic property services companies acquired more than 200 property services companies last year. Peng Jian, vice president of Sichuan Jiabao Asset Management Group Co., Ltd., said that the external expansion area of the company in the first half of this year has exceeded that of last year. Industry insiders estimate that within three years, Sichuan’s property management will be highly concentrated in the hands of a few giants.
Why do property management companies still want to make mergers and acquisitions because of their poor profitability?
It is the poor profitability of the property management industry that forms a huge contrast with the "throwing money" mergers and acquisitions by all parties.
Ma Cong, Secretary-General of the Property Committee of the Provincial Real Estate Association, said that the average profit rate of traditional property management companies with property fees as their main source of income is only about 5%. Due to meager profits, few enterprises have sought expansion for a long time, and the industry is highly dispersed. There are about 3,700 property companies in our province, most of which are small and micro enterprises. Take Chengdu as an example, among about 2,000 property management companies, 1,800 are third-class enterprises (the lowest level).
Why did Daxie suddenly make a big merger? Some people think that the industry is seeking large-scale operation. More people think that it is to compete for owners’ resources to open up the community O2O market. Community O2O, a business operation mode that integrates offline physical services with online Internet technology to meet the needs of community residents from "daily necessities" to "basic necessities", is widely regarded as the next trillion-dollar market.
The property management company is considered to hold the entrance to the O2O market. Compared with traditional e-commerce, the property management party is more likely to gain the trust of the owners. "The same online shopping, the property management company has high credibility and can deliver the goods to your door in 10 minutes." Zhao Xiaying further described his strategy as three stages: acquiring property management to seize owners’ resources-improving services to make owners agree-introducing O2O business model to make profits. "Community O2O is the main profit point in the future. But the premise is to seize enough owner resources now. "
The capital market is optimistic about the prospect of mergers and acquisitions. As far as listed companies are concerned, Color Life has been given a "buy" rating by many brokers, and China Shipping Property and China Olympics Home have also been reminded by brokers. At the beginning of this year, Sichuan Jiabao Asset Management Group Co., Ltd. successfully listed on the New Third Board, becoming the first listed property management company in Southwest China.
Others hold different views. Ma Cong said that in the face of competition from e-commerce companies such as JD.COM and Taobao, the expected income of property management companies is still unknown. Analysts at China Merchants Securities said that although the concept of property management is sought after, its attitude has become cautious. The core problem is how to turn the owner’s resources into profits. At present, there is no mature and sustainable profit model in practice.
Journalist investigation
Geometric influence of property management industry integration on community owners
Property services involve thousands of households. What impact will the large-scale integration of the industry have on issues such as property services and fees? The reporter conducted an investigation and interview on this.
Can property management keep up with the acquisition of residential area management?
The industry believes that large companies’ property services are more standardized and professional, and residential property services are often significantly improved after mergers and acquisitions. Since Vanke moved in in April last year, Li Tingting, the owner of Chengdu Yuntingyuan Phase III property, believes that "there are more young security guards and more active services." Liu Yingguo, the property management party and project manager of Jiaotong University Intelligent Property Management Co., Ltd., said that Vanke has established service processes such as customer service and security for it, streamlining personnel to free up funds and realize the rejuvenation of employees; Liu Xiaoping, the project manager of Hongshan Property, who was acquired by Color Life Service Group in March this year, also said that he had received training in five sectors, including security, engineering and environmental sanitation.
The reporter interviewed five property management companies with M&A cases, all of which are taking over the online platform of the community or preparing to go online to provide new services such as online shopping, repair and payment.
However, according to industry insiders, rapid expansion often faces the problem that management can’t keep up. Some residential areas in Chengdu have experienced a serious decline in the quality of property services and constant complaints from owners after mergers and acquisitions. Gou Qiang, deputy secretary-general of Chengdu Property Management Association, reminded that no matter whether expanding or developing diversified businesses, it should be based on quality property services.
Will the property management fee for large companies increase?
Generally speaking, well-known property management companies charge more than their peers. Does this mean that after large companies merge with small companies, the property management fees of the latter will increase?
The reporter interviewed four cases in this regard. Among them, the property management fees of Chengdu Xinli Park Mansion, which was taken over by Color Life, and Chengdu Yuntingyuan Phase III, which was taken over by Vanke Property, have not been adjusted at present; Although Zhongmin Property has not completed the merger yet, it said that it will not change the price of the property management fee of the acquired party; Peng Jian, vice president of Sichuan Jiabao Asset Management Group Co., Ltd., said that the property management fees of new projects have increased since last year.
"The increase in property management fees is often because large enterprises have to provide higher quality services and the cost is higher." Insiders said that the final price increase or not should be decided by the enterprise and the owner through consultation.
Acquired = barter? Can the owner refuse the merger?
"This is not carrying the owner barter? Why not go through the consent of the owners’ meeting? " It was not until three months later that Li Lanting, the owner, learned that Fang Hongshan Property, the property of Chengdu Xinli Park Mansion, had been acquired by Color Life Service Group. She resisted the merger because she was worried about the increase of fees by big companies.
According to China’s "Property Management Regulations", the hiring and dismissal of property service enterprises need to be approved by the owners’ meeting. However, Ma Cong, secretary general of the Property Committee of the Provincial Real Estate Association, believes that M&A is only a change in the internal equity structure, and the original property management company still exists. The original contract has not changed, so the owner’s consent is not required.
Ma Qu, a lawyer of Sichuan Junhe Law Firm, said that the acquirer has the obligation to inform the owner of the situation in time. If the owner is dissatisfied with the post-merger service, he can still change the property management party according to the contract. (Reporter Xiong Xiaowei)
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The final season of Quan You ended badly, and fans called for a remake of the finale.
The dragon mother’s fragrance has made the drama fans dissatisfied.
Game of Thrones poster.
1 Tencent "off the chain" China netizen posted "live text"
The finale of HBO drama Game of Thrones was originally scheduled to go online at 9: 00 Beijing time on the 20th, but the eagerly awaited netizens received a notice from the mainland copyright owner Tencent Video, saying that the sixth episode of the eighth season could not go online as scheduled due to media transmission problems, and the broadcast time would be announced separately. In this regard, the fans expressed their dissatisfaction and laughed at the same time: "I am afraid that I will not broadcast it." "Is it a remake of the ending?"
And those netizens in China who are full of expectations for the finale have found a way to solve the mystery, which is to go to the Game of Thrones to find "foreign aid". The so-called foreign aid is actually China opera fans who live and work abroad. After watching the live broadcast of HBO, they usually post the video screenshots of Quan You on the Internet as soon as possible, and at the same time let the netizens who can’t see the drama enjoy themselves in the form of text spoilers.
Lost $3.3 billion, millions of American drama fans skipped work to watch the ending.
China netizens are so crazy about the finale, so what is the reaction of American netizens? They are even crazier — — Skip work and watch Right Tour at home! According to the latest poll conducted by Harris Poll, it is estimated that tens of millions of Americans will choose to take time off on the day of broadcast (19th) or the next day (20th) in order to watch the drama for the first time and sort out their emotions after watching it.
According to the poll data, the broadcast of the finale of Right Tour will affect the work of 27.2 million Americans. Of the 27.2 million people, about 5.8 million wanted to work on the night of the finale of the play, but they planned to take time off to enjoy the last episode. Another 10.7 million Americans are going to skip work directly the day after the finale, so as to sort out their emotions; Another 2.9 million Americans said they were ready to be late for work on Monday, and 3.4 million Americans said they planned to work remotely on the 20th.
According to the prediction of a management company quoted by Market Watch, a financial information network owned by Dow Jones Company, the above-mentioned "strike tide" will bring losses of $3.3 billion. However, some analysts believe that employees have established closer relationships with colleagues and bosses by watching dramas such as Right Tour.
3 dragon mother was killed and it was hard to accept the finale. The fans scored zero.
According to Market Watch, about 35.8 million employees have spent at least one hour a week talking about the show since its last season. The story of "Unfinished Tail" also caused strong dissatisfaction among drama fans. A week ago, some netizens initiated a petition to ask HBO to change the screenwriter and remake the eighth season of "Right Tour". By the 19th, the number of petitioners had exceeded 1.06 million, which was the first time in the history of American TV series. And the last episode of the play will not reverse the plot and make the previously sad fans happy? The answer is: NO!
Because, in this episode, one of the two most popular female characters in the play — — Long Ma was killed by the snow (another woman, Er Ya, is still alive). As we all know, from the first season, Long Ma has accumulated such things as Storm Born, Denise, Targaryen I, Unburned, Queen Mirin, Ruler and Guardian of the Seven Kingdoms, Queen of Andals and Ancients, Khaleesi on the Grass Sea, Chains Breaker, Khal Terminator, Dragon. In the finale, Jiong Xue went to Long Ma to explain why King’s Landing was a massacre. Long Ma expressed her willingness to conquer the world, build an ideal country and abolish slaves with Jiong Xue. As a result, after the two embraced, Jiong Xue killed Long Ma with a backhand knife.
"I give this finale 0 points!" A drama fan said bitterly after watching the sixth episode. In fact, from the third episode of the Battle of the Night King, the reputation of Quan You began to decline. At that time, the episode was criticized for being too dark and the night king died too fast; In the fourth episode, the dragon mother’s dragon was shot dead by Youlun, which made the dragon powder rebound collectively; In the fifth episode, the dragon mother burned the innocent people in the city, and the screenwriter laid too little groundwork before blackening the dragon mother, which made 100,000 foreign drama fans sign a protest; Until the last episode of Dragon Mother’s sudden death, almost everyone who chased the play said it was unacceptable.
4 The screenwriter and Martin’s "Digging a Pit" and "The Right Tour" did not end in the end.
However, no matter what the ending is, no one can deny that Game of Thrones, which has been with fans for eight years, is the most successful TV series in human history. In those days, two popular American dramas, Prison Break and Lost, also ended badly. However, not many people have made such crazy comments about their endings. Only the final chapter of Right Tour has aroused heated discussions and discussions among fans around the world, and even the last episode of The Big Bang Theory was broadcast two days ago. According to HBO, the average age of the audience of Game of Thrones is 41 years old.
"Quan You" has a grand finale, but the fans are still not satisfied. After all, there are still several protagonists in the play who are not dead, and Martin’s novel has not been finished. In recent years, revival dramas have become popular, and X Files, Heroes and 24 Hours have been revived by TV stations in various forms. Even the classic American crime drama Prison Break released a sequel eight years later, and some time ago, President FOX announced the renewal of the sixth season. This makes the fans of Game of Thrones restless, thinking that HBO is likely to resurrect Game of Thrones in some form in the future.
With such a big IP, it is obviously unrealistic for HBO to completely give up "Right Tour", and in fact it is. George martin, the author and screenwriter of Game of Thrones, said in an interview recently that he is building five derivative dramas after Game of Thrones. According to george martin, three of the five derivative dramas are already in preparation. It is also reported that one of the derivative dramas is more inclined to the prequel of Game of Thrones, because the time in the drama is set before the timeline of Right Tour, and it will tell the true origin of alien ghosts, the secrets of Westeros and the legend of the Stark family in the north.
Cover journalist john young
Speech by Wen Jiabao and EU leaders when meeting with reporters (full text)
Topic: Wen Jiabao attended the 11th China-EU Leaders’ Meeting.
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On May 20th, Prime Minister Wen Jiabao of the State Council, China met with reporters after holding the 11th China-EU Leaders’ Meeting with Czech President Klaus (centre) and European Commission President Barroso (right), which holds the rotating presidency of the European Union. Xinhua News Agency reporter Wu Weishe
Xinhuanet Prague, May 20-the State Council’s Prime Minister Wen Jiabao attended the 11th China-EU Leaders’ Meeting in Prague, Czech Republic on the 20th, and after the meeting, he met with reporters together with Czech President Klaus and European Commission President Barroso. The full text of Premier Wen Jiabao’s speech at the meeting with reporters is as follows:
Journalists and friends:
Good afternoon! Nice to meet you all. This is my second visit to Europe in five months. During the Spring Festival in China in January this year, I visited the EU headquarters and four European countries, and attended the annual meeting in Davos in winter. I noticed that some media called that visit a "journey of confidence". Indeed, what I said most was that in the face of crisis, confidence is more important than gold and currency. An important achievement of that visit was that I agreed with the leaders of the European Union in Brussels to resume the China-EU summit as soon as possible. I flew for ten hours this morning to attend the meeting as scheduled. Because there are still many urgent things to do in China, it will take ten hours to fly back to Beijing at night, and it will take twenty hours on the road. I just said at the beginning of the meeting that I came with sincerity, responsibility and confidence. This is from my heart and is also a real action. China people stress that words must be kept, actions must be carried out, and the friendship between countries ends with faith. I believe that the development of China-EU relations should also abide by this principle.
From the inception of the European Community to today, the European Union has 27 member States, and China has always welcomed and supported the construction of European integration. For decades, no matter what difficulties we encounter, China’s position has not changed. Six years ago, China and Europe announced the establishment of a comprehensive strategic partnership, which is the result of joint efforts of both sides and a solemn commitment to the future and the international community. The development of China-EU relations conforms to the historical trend, meets the needs of the progress of the times, and benefits the Chinese and European people and the whole international community. I would like to mention in particular that the EU is China’s largest trading partner, with bilateral trade volume reaching US$ 425.6 billion last year. In the past five years, EU exports to China have increased by more than 20% annually, and China has become one of the most important export markets of the EU in the world. Almost all large enterprises in EU countries have invested in China. They are the beneficiaries of China-EU cooperation and the witnesses of China’s reform and opening up. Both sides should strengthen their confidence, deepen cooperation and continue to move forward hand in hand.
At present, there are various opinions about the development prospect and role of China in the world. Here, I want to clarify three points responsibly: First, the basis of China-EU relations is mutual respect and equal treatment, which was, is and will be the case in the future. Second, China has made great achievements in its development, but it is still a developing country. It will take a long time for China to realize modernization, and it will take generations of hard work. Third, China adheres to an independent foreign policy of peace, pursues an open strategy of mutual benefit and win-win, and is willing to develop friendly and cooperative relations with all countries and will never seek hegemony. It is impossible for one or two countries or groups of big countries to solve global problems. Multipolarization and multilateralism are the general trend and the will of the people. Some people say that the world will form a pattern of co-governance between China and the United States, which is groundless and wrong.
During the meeting, I pointed out that the core of China-EU relations is strategic and comprehensive, and the key is to keep pace with the times. Under the current complicated and changeable international political and economic situation, China and Europe should adhere to the basic orientation of strategic partners, take expanding pragmatic cooperation as the main line, and focus on keeping pace with the times to promote the comprehensive, in-depth and sustainable development of bilateral relations. To this end, we should give full play to the strategic leading role of the China-EU leaders’ meeting in the development of bilateral relations, and attach importance to and improve the quality and efficiency of the meeting; Give full play to the role of high-level economic and trade dialogue and various consultation mechanisms to promote exchanges and cooperation in various fields; Give full play to the stabilizing role of the legal framework and reach an agreement on the negotiation and signing of the China-EU partnership and cooperation agreement as soon as possible. I emphasize that the most important thing in China-EU strategic cooperation is to adhere to the principles of mutual respect and non-interference in each other’s internal affairs, take care of each other’s major concerns, and properly handle sensitive issues, so that the relationship between the two sides will not be affected by one incident. It is hoped that the EU will recognize China’s market economy status as soon as possible and lift the ban on arms sales to China, which is beneficial to the EU and China-EU relations.
I exchanged views with the European side on how to deal with the international financial crisis. In dealing with the crisis, China and Europe share the same interests and have a broad consensus. We need Qi Xin to work together to overcome the difficulties and contribute to the early recovery of the world economy. After my visit to Europe in January, China immediately sent a trade and investment promotion delegation to Europe, which produced positive results. I announced that China will send another purchasing delegation to Europe in the near future to increase its imports from Europe. China is willing to further promote mutual investment with the EU, strengthen cooperation in the fields of small and medium-sized enterprises, trade facilitation, science and technology, transportation and postal services, and oppose any form of trade and investment protectionism with practical actions. It is hoped that the EU will relax export restrictions on high-tech products to China, foster new growth points of China-EU economic and trade cooperation, and promote the sustained growth of China-EU trade. China is willing to strengthen dialogue, close communication and coordination with the EU in the fields of macroeconomic policies and finance, and jointly promote progress in the reform of the international financial system. Just now, China and Europe signed three cooperation agreements on energy, science and technology and small and medium-sized enterprises, which are three important areas for deepening mutually beneficial cooperation between China and Europe. Both sides should closely cooperate and earnestly implement them.
I gave the European side a comprehensive introduction to China’s policy proposals and specific measures to deal with climate change, stressing that despite the impact of the international financial crisis, the international community’s determination to deal with climate change cannot be shaken and its actions cannot be relaxed. China is willing to work with the European side to adhere to the principle of "common but differentiated responsibilities" and promote positive results at the Copenhagen conference at the end of the year. I also exchanged views with the European side on energy issues and some international issues.
I think the leaders’ meeting is fruitful and has achieved the purpose of enhancing mutual trust, promoting cooperation and deepening relations. The development of China-EU relations reflects the mutually beneficial cooperation between the largest developing country and the largest group of developed countries, the friendly exchanges between the two ancient civilizations, and the frank dialogue between different social systems. Achieving common and harmonious development between China and Europe is fundamentally conducive to the harmonious and sustainable development of the world. This is the common responsibility and mission of China and Europe. China is full of confidence in its own future, the development of the EU and the future of bilateral relations. China is willing to be good friends and partners with the European side, promote development through harmony, seek win-win cooperation and make greater contributions to the cause of human progress.
Finally, I would like to thank the Czech side, which holds the rotating presidency of the European Union, for its extensive preparations and warm reception to the Chinese delegation. I look forward to the 12th China-EU Leaders’ Meeting in Beijing at the end of this year.
Thank you!
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