Should we laugh at Xu Jiayin: Evergrande is finally coming down from ppt?

这份财务报告不错。可见，恒大在过去的一年里，一直在为迎接"三条红线"而努力。

This financial report is not bad. It can be seen that Evergrande has been working hard to meet the "three red lines" in the past year.

财报显示，从去年3月底到今年3月底，恒大的生息负债减少了2000亿元，从8743亿元减少到6740亿元。恒大还给出了减债时间表：2021年6月30日减至5900亿元以下；2022年6月30日减至4500亿元以下；2023年6月30日减至3500亿元以下。

According to the financial report, from the end of March last year to the end of March this year, Evergrande's interest bearing liabilities decreased by 200 billion yuan, from 874.3 billion yuan to 674 billion yuan. Evergrande also gave a schedule to reduce its debt: to below 590 billion yuan on June 30, 2021; to below 450 billion yuan on June 30, 2022; to below 350 billion yuan on June 30, 2023.

目前，"三条红线"都是红色的恒大也给出了由红转绿的降档时间表：2021年6月30日，净负债率将降至100%以下。根据财务报告，截至2020年12月31日，其负债率仍将高达152%；2021年12月31日，现金负债率将达到1以上；2022年12月31日，资产负债率将降至70%以下。

At present, Evergrande, whose "three red lines" are all red, has also given a downshift schedule from red to green: on June 30, 2021, the net debt ratio will drop to below 100%. According to the financial report, as of December 31, 2020, its debt ratio will still be as high as 152%; on December 31, 2021, the cash to debt ratio will reach above 1; on December 31, 2022, the asset liability ratio will drop to below 70%.

一是增加销售规模，加快现金回笼。夏海钧表示，今年的销量应该继续保持高速增长。恒大2021年的销售目标是7500亿元。

The first is to increase the sales scale and accelerate the return of cash. Xia Haijun said that this year's sales should continue to maintain high-speed growth. Evergrande's sales target for 2021 is 750 billion yuan.

二是减少土地储备。今明两年土地储备面积将减少1500亿，明年底可售住宅用地储备面积将由2.31亿平方米减少到2亿平方米左右。

The second is to reduce the land reserve. This year and next year, the land reserve area will be reduced by 150 billion, and the land reserve area of marketable residential buildings will be reduced from 231 million square meters to about 200 million square meters by the end of next year.

第三是上市更多资产，这是恒大屡试不爽的举措。"未来，我们将逐步剥离集团优质资产进行上市。"夏海钧透露，"今年，我们计划启动房车宝资本市场上市，以实现开战和募集资金的工作。通过不断增加股本，我们可以有效地减少债务。"

The third is to list more of its assets, which is Evergrande's tried and tested move. "In the future, we will gradually spin off the group's high-quality assets for listing." Xia Haijun revealed, "this year, we plan to launch the capital market listing of RV treasure to achieve the work of initiating war and raising funds. Through the continuous increase of equity capital, we can effectively reduce the debt."

显然，为了提高房车宝的估值，夏海钧将房车宝与壳牌进行了比较。他说，房车宝已成为全球最大的线上线下房地产和汽车交易平台，覆盖中国229个城市，拥有全国2129万名经纪人、38.7万名职业经理人和4.3万家门店。"我们预计，2011年今年的交易量将超过2万亿，达到服务亿万用户的目标。"

Obviously, in order to increase the valuation of RV treasure, Xia Haijun compared RV treasure with shell. He said that RV Bao has become the world's largest online and offline real estate and automobile trading platform, covering 229 cities in China, with 21.29 million nationwide brokers, 387000 professional managers and 43000 stores. "We expect that this year's transaction volume will exceed 2 trillion in 2011, reaching the goal of serving hundreds of millions of users."

不过，与房地产相比，人们显然更关心恒大何时建成。许家印说："一车两车不能实现恒大的宏伟目标。恒大的宏伟目标是发展新能源汽车。我们是按照世界领先企业来定位的。"

However, compared with real estate, people are obviously more concerned about when Evergrande will be built. Xu Jiayin said: "one car or two cars can not achieve the grand goal of Evergrande. The grand goal of Evergrande is to develop new energy vehicles. We are positioned according to the world's leading enterprises. "

按照他的原话："要么不做，想做就做最好的。这是恒大一贯的作风。"

According to his original words: "either don't do it, do the best if you want to do it. This is the consistent style of Evergrande."

为了让外界相信恒大不是PPT造车商，像所有电影故事的开头一样，徐家印讲述了恒大造车商的由来。

In order to convince the outside world that Evergrande is not a PPT car maker, like the beginning of all the movie stories, Xu Jiayin tells the origin of Evergrande's car maker.

"恒大汽车是恒大5年前派出2000多人，对市场主要行业做了大量社会调研后确定的项目。"我们相信，新能源汽车是一个环保的大产业，是全世界人民向往的未来。它有很好的前景。这是世界汽车工业史上的一场革命。它是国家从发展战略上扶持的产业，也是为人民服务的产业。从规模上看，也是一个与恒大集团规模相匹配的行业，"徐家印说，在这方面，恒大决定进军新能源汽车，去年恒大健康更名为恒大汽车。

Evergrande automobile is a project determined by Evergrande five years ago after it dispatched more than 2000 people to do a lot of Social Research on the major industries in the market. "We believe that new energy vehicle is a big industry that is environmentally friendly and people all over the world yearn for in the future. It has a very good prospect. It is a revolution in the history of the world's automobile industry. It is an industry that our country supports from the development strategy, and it is also an industry that serves the people. In terms of scale, it is also an industry that matches the scale of Evergrande group." Xu Jiayin said that in this regard, Evergrande decided to enter the new energy vehicles, and last year changed the name of Evergrande health to Evergrande automobile.

许家印为引出下一句话做了这么多准备："今天恒大的多元化产业不是突然从天而降，而是经过几年甚至更长时间创造出来的八大产业。"

Xu Jiayin has made so many preparations to lead to the next sentence: "today's diversified industries of Evergrande are not suddenly emerging from the sky, but are now eight industries created through several years or more."

"当恒大决定进入新能源汽车领域时，我们首先要做的就是设定目标。目标是什么？到2025年，实现年产100万辆，到2030年，实现年产500万辆。"许家印说这话的时候，不知道你信不信。不管怎样，我不敢太相信。

"When Evergrande decides to enter the field of new energy vehicles, the first thing we do is to set goals. What are the goals? By 2025, an annual output of 1 million vehicles will be achieved, and by 2030, an annual output of 5 million vehicles will be achieved. " When Xu Jiayin said this, I don't know if you believe it. Anyway, I didn't dare to believe it too much.

根据恒大近日发布的《2020年年度业绩报告》，其98.79%的收入来自医疗美容和健康管理，新能源汽车仅占收入的1.21%。关键是到目前为止，还没有大规模生产汽车。

According to the 2020 annual performance report released by Evergrande recently, 98.79% of its revenue comes from medical beauty and health management, and only 1.21% of its revenue comes from new energy vehicles. The key is that up to now, there is no mass production of a car.

许家印说，恒大之前对汽车行业一无所知。根本没有基础。没有重要人物，没有技术，也没有基地。基本上，它是从0开始的。

Xu Jiayin said that Evergrande didn't know anything about the automobile industry before. It had no foundation at all. There were no important people, no technology and no base. Basically, it started from 0.

那么恒大如何打造这款车呢？

So how does Evergrande build this car?

许家印说："我们的基本理念是，世界汽车工业的方方面面都是我们用的。看到了吗？我们使用全球资源。通过这三年，恒大汽车集团的团队建设非常好。现在我们总共有8700多人。我们研究所有3500名研究人员，包括我们生产基地的研究人员。"

Xu Jiayin said: "our basic idea is that all aspects of the world's automobile industry are used by us. See? Global resources are used by us. Through these three years, the team building of Evergrande automobile group is very good. Now we have a total of more than 8700 people. There are 3500 researchers in our research institute, including those in our production base. "

"恒大发布了9款车型，我们同时开发了14款车型，为什么要同时开发这么多车？因为对于凡事追求最大、金额最大的徐家印来说，即使是扶贫，一年一辆车"也比不上恒大6000-7000亿的年销售规模"。

"Evergrande has released 9 models, and we have developed 14 models at the same time." Why develop so many cars at the same time? Because for Xu Jiayin, who pursues the biggest and largest amount of money in everything, even in poverty alleviation, one car a year "does not match the scale of Evergrande's annual sales of 600-700 billion.".

他透露，已经对几款发布的汽车进行了大量测试。他特别提到了去年在内蒙古的冬季考试。"一切都要做。这都是从我们的生产线来检测的。"徐家印说。

He revealed that a large number of tests have been carried out on several released cars. He specifically mentioned the last winter test in Inner Mongolia. "It's all to be made. It's all from our production line to be tested." Xu Jiayin said.

说到这里，徐家印更是信心十足："我们今年底、四季度都会有试生产，明年还会有大量的出货。这就是我们的整个计划。"

Speaking of this, Xu Jiayin is more confident: "we will have trial production at the end of this year, the fourth quarter, and a large number of deliveries next year. This is our whole plan."

恒大终于从ppt上下来了。

Evergrande is finally coming down from ppt.

是这样吗？

Is that right?

Link：https://new.qq.com/omn/20210331/20210331A0FEFG00.html

update time：2021-04-01 10:48:31