October 19，The information of 188bet online live casino selling 50% equity of Shanghai Huahe Real Estate Development Co., Ltd. was pre-disclosed at the Beijing Equity Exchange。Shanghai Huahe Real Estate is each held 50% by 188bet online live casino and China Resources，Its main land projects are located in Tianmu Community, Jing'an District。

This is not the first time that 188bet online live casino has sold its assets，Since September 2018，188bet online live casino began to frequently sell equity and assets of its companies，Incomplete statistics from Economic Observer reporter，As of October 24th，188bet online live casino has at least 15 assets listed for sale and pre-disclosed。

These assets are planned to be sold，Has project company equity、Land、Construction in progress and financial assets，Mainly real estate projects，But it also involves equity in other fields，The sale subject involves 188bet online live casino Group and its 188bet online live casino shares、188bet online live casino Asia, etc.。

Real estate project planned for sale，Mostly located in Shanghai、First- and second-tier cities such as Shenzhen and Chengdu。As one of the first 16 central enterprises recognized by the State-owned Assets Supervision and Administration Commission as the main business of real estate，188bet online live casino’s behavior is understood by the outside world to sell off assets to replenish working capital。

Said by people close to 188bet online live casino，Selling assets is more for asset allocation needs，Group level requirements，Put some larger occupied funds、Projects that are difficult to realize in the short term and have weak profitability，Focus more resources on culture、The main business of tourism and new urbanization。

188bet online live casino Group’s official reply to the Economic Observer，Asset disposal、Equity transfer and cooperative development, etc.，Mainly to speed up cash return，Improve overall asset turnover efficiency，This is an important part of 188bet online live casino’s implementation of its new strategy，Is an important path to achieve high-quality development of enterprises under the new development model。

Mainly real estate 188bet online live casino in first- and second-tier cities

Discovered by Economic Observer reporter，As of now，Among the 15 assets pre-disclosed for sale by 188bet online live casino，Except for the 30% equity of Shenzhen Kangqiao Real Estate Investment Co., Ltd. which was withdrawn from sale in June，The other 14 pre-disclosed or on-sale assets were mostly released in September and October。

Out of 14 projects，11 projects related to real estate，9 projects are located in first- and second-tier cities，4 items located in Chengdu，3 items are located in Shanghai，2 items are located in Shenzhen, the headquarters of 188bet online live casino。Also，Taizhou and Hainan have 1 item each。

Among the assets sold by 188bet online live casino in this round，There are 4 items in Chengdu，Respectively 100% equity of Chengdu Anren Overseas Chinese Town Renjia Cultural Tourism Development Co., Ltd.、100% equity of Chengdu Anren Overseas Chinese Town Renli Cultural Tourism Development Co., Ltd.、51% equity of Chengdu Tianfu Overseas Chinese Town Hubin Commercial Management Co., Ltd. and 51% equity of Chengdu Dirun Real Estate Development Co., Ltd.。

The first two cultural tourism development companies are part of the 188bet online live casino Anren Ancient Town project company，January 9 this year，Chengdu Anren Overseas Chinese Town with 2.Acquired two plots of land in Anren for a total of 163 acres at a price of 0.2 billion yuan，Two pieces of land are used for residential and supporting commercial purposes，Anren Town is affiliated to Dayi County, Chengdu City。

The Luodai Blog Town project developed by Chengdu Dirun Real Estate is part of the Luodai Ancient Town project in 188bet online live casino，This company was originally a project of Taiwanese company Jingfu Investment，January this year，The shareholder was changed to Chengdu Luodai Overseas Chinese Town Cultural Tourism Development Co., Ltd.。June，188bet online live casino also won 107 near Luodai Ancient Town.6 acres of land。

3 assets for sale in Shanghai，In addition to the Tianmu community project developed in cooperation with China Resources，October，188bet online live casino also pre-disclosed the news of the sale of 100% equity of Shanghai Wanjin Real Estate Development Co., Ltd. and the second phase of Shanghai 188bet online live casino Sino-Italian Cultural Plaza project，The net assets of the three projects are close to 3 billion yuan。

Take Tianmu Community Project as an example，188bet online live casino holds 50% shares in the project company Shanghai Huahe Real Estate，This time it is listed for sale，Meaning that 188bet online live casino has completely withdrawn from project development。The land acquisition cost for the Tianmu Community Project is 69.3.2 billion yuan，includes 2.450,000 square meters of residential property、3.650,000 square meters commercial and 12.140,000 square meters of office space。

Tianmu Community Project is located in the Suzhou River area of ​​Shanghai，There is a certain scarcity，But due to Shanghai’s commercial and residential purchase restrictions，Obviously the removal cycle is relatively long。As ​​of the end of September，The net assets of Shanghai Huahe Real Estate is 14.9.5 billion yuan，Liability 23.2.8 billion yuan。

Similarly, there is the second phase asset package of Sino-Italian 188bet online live casino Plaza in Shanghai Overseas Chinese Town，This asset is also commercial and residential land，Mainly composed of land and some projects under construction，Building area is 13.030,000 square meters，The transfer price is 12.3.7 billion yuan，Trading time ends on November 2nd。

Another asset package in Shanghai is the Helifang Old District Renovation Project under the name of Markham Real Estate。According to Shanghai Putuo District Housing Authority document information，This project requires the demolition of a total of 799 households，Due to the rapid rise in market prices，There are still more than 60 households that have not been relocated，Demolition permit as of February 28, 2019。

The two 188bet online live casino in Shenzhen are also old renovation 188bet online live casino，Shenzhen Wanlin Investment Co., Ltd. is the implementation entity of the old reform of Bantian Damao Industrial Zone, Longgang District，This project was acquired in May 2017，Development and construction land area 11847.1 square meter，The calculation area is 6.990,000 square meters。

Shenzhen Xiehao Real Estate Development Co., Ltd. is also an old renovation project，In 2015, 188bet online live casino acquired a 51% stake in Hengxiangji from Huabanli for 2.8 billion yuan，And changed its name to 188bet online live casino City Update，As an old reform platform under 188bet online live casino，Xiehao Real Estate is an urban renewal subsidiary of 188bet online live casino。

Not just a real estate project

Among the assets 188bet online live casino plans to sell，There are two more items located in third- and fourth-tier cities。One of them is 100% equity of Hainan Overseas Chinese Town Industrial Co., Ltd. which was put up for sale in October。June this year，Hainan 188bet online live casino Industrial signed a contract with Wenchang City for the Song Cultural Park、Eastern Suburb Coconut Grove、Three projects including Zibei Portal Pastoral Plaza。

Hainan is one of the provinces with the most stringent purchase restrictions in China，April this year，The Hainan Provincial Government issued a global purchase restriction policy。

As of the end of the third quarter，Hainan 188bet online live casino Industrial Liabilities 24.6.6 billion yuan，Net worth is 4735.580,000 yuan。

Another real estate asset package is part of the land and construction 188bet online live casino in Taizhou Overseas Chinese Town，Beijing Equity Exchange information display，The asset package land area is 42.990,000 square meters，The nature of the land is mainly commercial and residential，Listed for sale at a low price of 6.1.5 billion yuan。The Taizhou Overseas Chinese Town project has suffered losses for many consecutive years。

Actually，When Overseas Chinese Town began to list assets planned to be sold in September，The scope of sale is not limited to real estate projects。Pre-disclosed information on the sale of 100% equity of Shenzhen 188bet online live casino Consumer Installation Engineering Co., Ltd. in September，As of the end of August，The company’s net worth is 655.20,000 yuan。

Another non-real estate project is Yingda Securities, which was pre-disclosed for sale in early October.74% equity，Yingda Securities is a national securities company controlled by State Grid，In May 2002, 188bet online live casino became a shareholder of Yingda Securities，After this sale，188bet online live casino will withdraw from the shareholder list of Yingda Securities。

October 24，Beijing Equity Exchange listed 100% equity pre-disclosure information of Zhongshan Huali Packaging Co., Ltd.，The company’s shareholder Rongtian Investment Co., Ltd. is a subsidiary of 188bet online live casino (Asia) Holdings，October 22，188bet online live casino Asia Board of Directors approved the sale。

Easy to find，Items being sold，The first category is old renovation 188bet online live casino that are difficult to demolish，Including 1 project in Shanghai and 2 188bet online live casino in Shenzhen，Although these 188bet online live casino have promising prospects，But the realization cycle is longer。

The second category is 188bet online live casino with a long decommissioning cycle，Whether it is the Shanghai commercial and residential 188bet online live casino and Hainan 188bet online live casino that have been slowly decommissioned due to the purchase restriction policy，Anren, whose location is not ideal、Taizhou and other 188bet online live casino，It was sold because of the slow turnover。

The third category is that the assets themselves are not very profitable or the scale is small，Industries that are not closely related to the main business of 188bet online live casino，For example, Yingda Securities, which is currently increasing capital、Shenzhen 188bet online live casino Fire Installation Engineering Co., Ltd. with net assets of only 6.55 million yuan and Huali Packaging, which is in losses。

188bet online live casino Group responded to the Economic Observer，This approach，It will help 188bet online live casino further focus on its main business，Ensure that enterprises have more energy and resources to focus on the development and construction of cultural tourism products，Continuously improve the core competitiveness of cultural tourism，Configuration through resource optimization，Develop and build better cultural tourism projects for consumers。

The logic behind it

Since 2015，188bet online live casino begins internal reforms、Emerging strategies for opening up，Adjust the original strategy of focusing on tourism real estate to culture + tourism + new urbanization strategy，188bet online live casino stated，By asset disposal、Equity transfer、Cooperative development and other methods，Accelerate cash return，Improve asset turnover efficiency，Is an important part of 188bet online live casino’s new strategy。

The above-mentioned people close to 188bet online live casino also said，188bet online live casino’s internal reform mainly focuses on new strategies，Already basically completed this year，The next step is to make business adjustments，“It turns out that 188bet online live casino has made a lot of investments，The next step will be to gradually divest assets that are not closely related to the main business and have limited profitability。”

Since the new strategy was established in 2017，188bet online live casino Group has successively signed more than 30 projects，The investment in each project is more than 10 billion yuan。And，Because it is a cultural tourism project，Every project requires a large investment in the early stage of infrastructure and cultural tourism facilities。

Under the influence of the new strategy，188bet online live casino Group Assets in Recent Years、Liabilities、Net profit and other financial indicators have increased significantly，As of June 2018，Total assets reached 3822.3.5 billion yuan，An increase of 400 from the end of March.5.7 billion yuan，It is 5 at the end of 2017.1x。

Same period，188bet online live casino Group’s liabilities also increased significantly，Borrowing、Bonds and Notes from 249 at the end of 2017.6.8 billion yuan increased to 1370 at the end of June 2018.9.9 billion yuan，Added 4.5 times。

The above people think，188bet online live casino wants to maintain rapid development，Increasing turnover rate is a necessary guarantee，Resources will be realized within a certain period of time，Achieve the effect of cutting through the mess with a sharp knife。"If you can develop it yourself，Then develop it yourself，Can’t develop it myself，Leave it to others to develop，Strategicly rapid withdrawal of funds，Tactically more flexible。”

188bet online live casino Group stated in a written reply，Under the traditional development model，188bet online live casino mainly obtains land resources through supporting cultural and tourism products，Must pass complete real estate development、Value can only be realized through sales，Complementing cultural tourism products in terms of cash flow and income。

Under the innovative development model，After 188bet online live casino acquires land resources，On the one hand, it is used to give full play to its core advantages，Building cultural tourism projects，On the other hand，Sold by Asset、Forms such as equity transfer and cooperative development，Realize the value of part of the supporting land，Achieve efficient capital turnover。

188bet online live casino Group further pointed out，Under the current economic situation，188bet online live casino Group adopts market-oriented means，Integrate multiple methods，Continuous adjustments to improve overall asset turnover efficiency，Provides a strong guarantee for the construction of cultural tourism。This is normal market behavior，It is also an important path for 188bet online live casino Group to achieve leapfrog development under the innovative development model。In the future，These innovative methods will also become the group’s regular business model。

In other words，188bet online live casino Group wants to maintain its rapid development of cultural tourism new urbanization strategy，Not only do we need to cut off assets that are difficult to realize in the short term，Enable light travel，At the same time, it is also necessary to continuously realize the resources in hand，No matter what the real estate situation is，Keep the overall asset turnover rate as efficient as possible。

188bet online live casino Group stated in its reply，The current capital flow of 188bet online live casino Group’s projects is in good condition。"Under the supervision of the State-owned Assets Supervision and Administration Commission，188bet online live casino Group will continue to optimize its assets，Further improve the efficiency of fund use。”

*Source of this article: Economic Observer，Author: Tian Guobao，Original title: "188bet online live casino responds to frequent asset sales》.