In Jinyang No.1 Farm Project Community located in Chongqing University Town, except for a few buildings that were first developed, most of them were not completed as scheduled, and the delivery time agreed in the contract was nearly two years overdue.

Many people who bought the residential area have nowhere to live, but they can only live in a semi-finished "unfinished building", and they have to find their own way to solve their daily water and electricity problems. According to the residents, the electricity they used was generated by some community owners who pooled their money to "buy" a generator, and cooking was solved by buying liquefied gas by themselves.

But in this case, the monthly mortgage of several thousand yuan can't be broken. To this end, some owners turned the construction site of the villa area into a vegetable field, and reduced the burden of life by growing vegetables self-sufficiency. Some owners said helplessly: I didn't expect that I bought the house of "Jinyang No.1 Farm" and really lived in the "farm".

so why hasn't the property been delivered as scheduled? The reason is actually that the capital chain of a very common development enterprise is broken.

Real estate development is a capital-intensive industry, which requires a lot of capital, so the financing ability of real estate enterprises will greatly affect its development prospects. I only have 1 yuan, and I have to do 1, yuan. When the bank loan is not approved, the capital chain will be broken. The real estate developers in our country all use bank loans.

The closed loop of capital chain of real estate enterprises is: project financing → project development → delivery → sales payment → payment of external financing costs → a new round of project financing

Each of the above links may lead to the break of capital chain. However, in different environments, the impact effect is different. At present, under the background of tight state funds and banks' reluctance to lend, if the self-owned funds of real estate enterprises have been used up, and the sales rebate or new funds have not flowed in in time, the capital chain of real estate development projects will easily break.

China Securities Network reported that a quarterly report showed that among real estate development enterprises, nearly 2 companies, such as CCCC Real Estate, Greenland Holdings, Taihe Group, *ST Songjiang, Sunshine City and Cinda Real Estate, had asset-liability ratios exceeding 85%, and nearly half of them had asset-liability ratios exceeding 7%. Even a recognized high-quality real estate company like Vanke, its asset-liability ratio still reached 82% in the first half of last year.

the debt scale of leading real estate enterprises has approached one trillion yuan, and the leverage ratio of some small and medium-sized real estate enterprises is also amazing. As we all know, in the past, in order to pursue scale, developers borrowed money at all costs to get land or even land kings, and finally caught up with real estate regulation and control, and restricted purchases and sales, which put the impulsive developers in an awkward position. The cost of capital has risen and the debt ratio has continued to rise.

Speaking of uncompleted residential flats, the owners are exhausted if they get this uncompleted residential flats.

In this case, the Construction Bureau of Chongqing High-tech Zone Management Committee responded: the project has completed the preliminary audit evaluation report of bankruptcy reorganization and the creditor's rights review of real buyers. Put forward the draft reorganization plan. On December 29th, 22, the bankruptcy administrator published the announcement of the second creditors' meeting of Chongqing Nanheng Vocational Co., Ltd. on the national enterprise bankruptcy reorganization case information network, and it is scheduled to hold the second creditors' meeting on January 26th, 221 to consider the reorganization plan. In the next step, the administrator will continue to carry out relevant work, push the bankruptcy reorganization plan to pass the vote, and start the procedures for returning to work. Relevant departments of the CMC are paying attention to and actively promoting the disposal of related issues that the masses are concerned about.