The real current situation of Shimao Group is that it has suffered serious losses in the past two years.

As a typical Fujian real estate company, Shimao Group is known as the merger and acquisition king in the industry. Since the second half of 2021, the environment of China's real estate industry has changed, the company's operations have been adversely affected, and contracted sales have declined significantly. In 2022, its contracted sales will drop by 68%.

Shimao Co., Ltd. said that since 2022, the company’s sales situation has not improved much. By 2022, although the gross profit margin has rebounded, it will still be at a historical low of 8.4% due to price reduction promotions and high-priced carryover.

Since the liquidity crisis, Shimao has been actively rescuing itself to restore and protect the company's production and operations, including negotiating extensions and exemptions for existing financing, minimizing disruption to project construction and operations, and accelerating Sales and payment collection and active disposal of assets, etc.

Introduction to Shimao Group

Shimao Holdings (Shimao for short) is an international and comprehensive large-scale investment group. It includes two core modules: Shimao Group and Shimao International. Among them, Shimao The group involves real estate, commercial operations, property management, hotel operations, culture and entertainment, finance, education, health, high technology and other industrial fields.

Shimao participates in the development and construction of core urban agglomerations such as the Greater Bay Area, Beijing-Tianjin-Hebei, Yangtze River Delta, West Coast of the Taiwan Strait, Chengdu-Chongqing, and Shandong Peninsula. It pioneered the riverside model by integrating landscape, waterfront, gardens and Architectural and other elements are naturally integrated into each building, creating high-end urban life, committed to creating high-quality life scenes, and establishing its classic position in the field of high-quality residential development.

Over the years, Shimao has continued to create city business cards, constantly establish urban landscapes, cultural and spiritual landmarks, and re-outline the city skyline. Many classic projects have gradually become important carriers of urban industrial upgrading and regional economic development.

The above content refers to Baidu Encyclopedia-Shimao Group