黄树辉 许诺

HuangShuHui promise

　　一改此前几个月的保守作风，7月份以来拿地投入超过上半年总和，被视为行业“风向标”的万科对土地市场的研判正在悄然发生变化。

Change after months of conservative style，Since July take on more than in the first half of the total，Is considered as the industry“vane”Vanke to the land market judge is quietly changing。

　　公开资料显示，8月1日，万科旗下上海沪彤置业有限公司以20.32亿元底价竞得上海闵行区虹桥商务区核心区北片区11号地块，楼板价为每平方米11395元。

Public data shows，August 1,，Shanghai vanke's ever real estate co., LTD with 2.032 billion yuan base price competition to Shanghai hongqiao CBD core area minhang district north area 11 block，Floor price of every square metre 11395 yuan。

　　这也是万科自7月份以来涉及金额最大的一次拿地举动。此前7月31日，万科在以5.66亿底价获得一幅面积约45亩的成都成华区商住地块，折合楼面地价仅2721元/平方米。同日，万科在杭州又以总价130164万元竞得一宗商住用地，折合楼面价4257元/平方米。

This is also since vanke since July amount involved in one of the biggest take action。After July 31,，Vanke in the 566 million floor price for a site with an area of about 45 acres of chengdu into area of commercial/residential block，Reduced floor price is only 2721 yuan/square meters。On the same day，Vanke in hangzhou in 130164 and total WanYuanJing a Pope commercial/residential land，Reduced floor price 4257 yuan/square meters。

　　7月27日，万科还以16.2亿元竞得重庆沙坪坝区凤鸣山一宗地块。7月5日，万科以底价4.29亿元的楼面起始价竞得宁波鄞州投资创业中心一幅地块。

July 27,，Vanke also with 1.62 billion yuan race to chongqing shapingba district fengming mountain of a single block。On July 5,，Vanke to base price 429 million yuan floor starting price competition to ningbo yinzhou investment and business center a picture block。

　　综合7月份以来的拿地数据可以发现，一个月内万科共计斥资约60亿元拿地。而此前2012年1至6月，万科共拿下112.3万平方米土地，支付地价约54亿元。

Comprehensive since July had to data can be found，A month of vanke spend about $6 billion to take。And after 2012 years 1 to 6 months，Vanke scored a total of 1.123 million square meters land，Pay land price of about 5.4 billion yuan。

　　万科董秘谭华杰对此表示，万科拿地是一种正常的经济行为，并不能解读对后市看好，整体上公司对于房地产市场依然持比较谨慎的态度。

Vanke dong secret TanHuaJie expressed，Vanke take is a normal economic activity，And can't read good for the market outlook，, on the whole, the company for the real estate market is still a very cautious attitude。

　　但有业内人士分析认为，开发商对土地市场的研判正在改变，尤其是北京地王事件以来，多个地方土地市场出现高溢价情况。

But the personage inside course of study thinks，Developers to the land market judge is changing，Especially since the incident left Beijing，Many local land market appear high premium situation。

　　在此前的第一季度，万科竟然出人意料地“零拿地”，颇为罕见。直到4月6日，万科才在土地市场出手，在唐山拿下一幅面积4.7万平方米地块，成交价约1.19亿元。万科2012年拿地终于突破了零记录。

After the first quarter，Vanke unexpectedly unexpectedly“Zero take to”，Rather rare。Until April 6，Vanke in the land market to sell，Had a picture in tangshan area of 47000 square meters block，Clinch a deal valence of about 119 million yuan。Vanke 2012 take to finally broke through the zero record。

　　根据万科总裁郁亮在2011年年末的表态，“万科已经进入冬天模式，”并称“冬天模式”的一大特点就是谨慎拿地。万科会继续关注土地市场可能存在的机会，但还是坚持“宁可错过，绝不拿错”的原则。

According to President YuLiang vanke in late 2011 statement，“Vanke has entered the winter mode，”said“Winter mode”A feature is careful to take。Vanke will continue to focus on the land market possible opportunity，But I still insist on“Would rather miss，Never take the wrong”principle。

　　除了1至3月没拿地之外，万科在2012年4月份拿地支付地价11.4亿元，5月份支付地价6.47亿元，在6月份支付地价21亿元。截至8月2日，万科年内拿地金额合计为114亿元，在万科历史上仍处于低位。

In addition to 1 to march didn't take to outside，Vanke in April 2012 and to pay land price 1.14 billion yuan，May pay land price 647 million yuan，In June to pay land price 2.1 billion yuan。As of August 2,，Vanke years to get the amount of total for 11.4 billion yuan，In the history of vanke, is still in the low。

　　值得关注的是，万科7月以来在成都、重庆、宁波的拿地几乎都是以底价成交。其中，万科在杭州以加价20万元，总价13.02亿拿下杭州良渚地块，据悉该地块吸引万科、金地等大型开发商，最终成交楼面价4430元/平方米。

There is concern，Since July vanke in chengdu、chongqing、Ningbo to take almost all is a base price clinch a deal。the，Vanke in hangzhou to increase 200000 yuan，Total price 1.302 billion win hangzhou liangzhu block，It is understood that the block attract vanke、Gold base and other large developers，Final clinch a deal the floor price 4430 yuan/square meters。

　　公开资料显示，杭州良渚该区域土地市场成交楼面地价在6000元/平方米左右，市场好的时候楼面地价曾高达10047元/平方米，如今万科拍出的地块不足高峰的一半，更是创下2009年以来宅地楼面价新低。

Public data shows，Hangzhou liangzhu the regional land market clinch a deal the floor price is in 6000 yuan/square metre，The market good floor price was up to 10047 yuan/square meters，Now vanke clap a plots shortage half of the peak，But also a record 2009 years homestead floor price low。

　　万科在7月开始大规模拿地可能与其销售业绩良好存在直接关联。今年1月至6月，万科累计实现销售面积602.5万平方米，同比增长6.54%，销售金额625.4 亿元，在国内房地产开发企业中仍位居第一。

Vanke in July mass take to may and its sales performance good there is a direct correlation。This year January to June，Vanke realized total sales area of 6.025 million square meters，Year-on-year growth of 6.54%，Sales amount is 62.54 billion yuan，In the domestic real estate development enterprises is still in the first。

　　截至一季度末，万科持有货币资金390亿元，远高于短期借款和一年期长期借款总和的178亿元，净负债率为23%，较年初下降0.8个百分点。

As at the end of the first quarter，Vanke hold monetary fund 39 billion yuan，Far higher than short-term borrowing and the long-term loan sum of 17.8 billion yuan，Net ratio is 23%，At the beginning of a 0.8% decline。

　　瑞银研究报告称，受益于市场环境改善和推盘量增加，预计万科一季度货币资金达391亿元，二季度销售额达315亿元，具备把握土地市场机遇的资金实力，将实现销售额和土地储备的扩张。

Ubs study reports，Benefit from the market environment improvement and push disc increased，Vanke quarter monetary fund is expected to reach 39.1 billion yuan，The second quarter sales reached 31.5 billion yuan，Have to grasp the land market opportunity capital strength，Will achieve the expansion of sales and land reserve。