wen | yemacaijing liujunqun

编辑丨李白玉

hexiangjianjiazu，nafangdichan“kaidao”。

2024nian6yue23ri，meidezhiye（3990. hk）xuanbuyixiangzhongdaguquanzhongzujihua。gongsijuedingjiangfangdichankaifayewucongshangshigongsitixizhongboli，jiaoyouqikonggugudongjieshou，weilaigongsijiangzhuanzhuyuwuyeguanlifuwu、shangyewuyehechanyeyuan、fangdichankeji、jianshexiangmuguanlidengqingzichanyewu。

来源：美的置业 公告截图

jumeidezhiye2023niannianbaoxianshi，gongsikonggugudongweimeideqiangzhankonggu（bvi）youxiangongsi，gaigongsichiyoumeidezhiye76.43%degufen。zheibeihou，meidejituanchuangshirenhexiangjiandeerxifuludeyantongguochiyoumeidefazhankonggu(bvi)youxiangongsi、meihengyouxiangongsihemeiyuyouxiangongsidequanbuguquan，jianjiekongzhimeidezhiye81.13%degufen，weishangshigongsishijikongzhiren。

guoqu，fangdichankaifayewuyizhishimeidezhiyedehexinyewu。2023nian，gaiyewudezongzichangaoda1971yiyuan，shourudadao700yiyuan，zhandaolegongsizongshourude97%。zheicibolifangdichankaifayewu，youshichangguandianrenwei，zheiyiweizheheshijiazuzhudongnaxiazhongzichan，tuidongmeidezhiyeqingzhuangshangzhen。

zaitouzishequ“xueqiu”shang，youwangyoubiaoshi：“liangxinqiye，zaidangqianshichanghuanjingxia，kaifagaofuzhai、gaochengbendefangdichanxiangmufengxiantaida。woxuanze（jianggupiao）maijikonggugudong。”

shichangduimeidezhiyedezheiyizhuanxingjihuafanyingrelie。6yue24ri，meidezhiyegujiayiduzhangchao100%，dangtian，gongsigujiashangzhang69.87%，baoshouyu6.37gangyuan/gu，shizhiyue91yigangyuan。jiezhi6yue27ri，gongsigujiada6.55gangyuan/gu，shizhiyue94.02yigangyuan。

“剥离房地产”不等于“放弃房地产”

genjugonggaoneirongkezhi，meidezhiyejihuajiangqifangdichankaifayewutongguoneibuzhongzu，yousirengongsichiyou，bingtongguoshiwufenpaisirengongsigufendefangshi，jiangsirengongsijituancongshangshigongsizhongboli。

zaizheigeguochengzhong，gudongmenkeyixuanzejixuchiyousirengongsigufen，huozheyimeigu5.9gangyuandejiagezhijienaqianbianxian。jiaoyiwanchenghou，meidezhiyebenshenjiangbuzaichiyousirengongsidegufen，qicaiwuzhangbenyebuzaibingbiao。

zaiciguochengzhong，konggugudongchengnuobuhuixuanze“bianxian”，ershixuanzejixuchiyouqizaisirengongsiyongyoudequanbugufen；ruguoyouqitagudongxuanze“bianxian”，konggugudongyaobazheixiebei“bianxian”degufenzaishougouhuilai。

zhidezhuyideshi，bolifangdichankaifayewudetongshi，meidezhiyejiangbaoliuwuguan、shangye、dichankeji、jianshexiangmuguanlidengyewu。2023nian，shangshuyewuhejishouruyue37yiyuan，jinzhanzongshouru5%。

jugonggaoneirongkezhi，meidezhiyebolifangdichankaifayewudeyuanyinbaokuojianshaofuzhaihexinyongfengxian，zhuanzhuwuyeguanlidengqingzichanyewu，yinwuyeguanlilirunlvbifangdichankaifayewugao。zhongzuhou，gudongrengketongshichiyouxianjituanhesirengongsijituandequanyideng。

“zhongjingongsi”yanbaocheng，zhongzichandefangdichankaifayewuquanmianbolihou，meidezhiyerengjiangbaoliuduikaifayewudecaopanyunying，shangshigongsiyewujiagoujiangyou“fangdichankaifa+zichanyunyingfuwu+fangdichankeji”diaozhengwei“fangdichandaijian+zichanyunyingfuwu+fangdichankeji”。

yijuyanjiuyuanyanjiuzongjianyanyuejinbiaoshi，zheifanyingledangqianfangdichanshichanggongqiuguanxixiafangqiyewuzhanlvedezhongdabianhua。jinguanmeidezhiyebeishiweiwenjianqiye，zheicizhudongxingdiaozhengxianshiletazaimeiyouzhongdazhaiwuwentiqingkuangxia，zhudongxuanzezhuanxiangqingzichanyewu，yijiangdichuantongdichanyewudetuoleiyingxiang。

jiezhi2023niandi，meidezhiyeyouxifuzhaiwei380.7yiyuan，tongbixiajiang21.4%，jingfuzhailv35.8%，xianjinzongliang201yiyuan，yinxingshouxinedu1501yiyuan，qizhongshangweidongyongdeeduyou1198yiyuan。2024nian，meidezhiyeyidaoqidezhaiwugong62.5yiyuan；yinianneidaoqideyouxifuzhaiwei122yiyuan，yuejunhaizhaiyue10yiyuan。

tongguocicizhongzu，meidezhiyebujinshuaidiaolezhongzichanbaofu，haihuiyouhuacaiwujiegou。“cicimeidezhiyebolifangdichankaifayewu，yifangmiankeyishuaidiaozhongzichanbaofu，jujiaoziyuanfazhanqingzichanyewu；lingyifangmianhaikeyijiangdiqiyegangganlvyijifuzhaishuiping，qingzhuangshangzhen，shiqiyenenggouchuanyuezhouqi。”jingjixuejiasongqinghuibiaoshi。

aimeizixunceojianshouxifenxishizhangyiyeqiangdiaodao，zheishiyigeshangyexingwei，qibeihoudequdonglishiliyi，erbushidanchundeliangxingqudong。

ju《zhongguofangdichanbao》baodaoxianshi，bencizhongzuwanchenghou，meidezhiyejiangshixianfangdichankaifazhongzichanyewuyuchixujingyingxingyewudeguquanfenshe，fangdichanyewudeshijikaifahejingyingguanlirengyoumeidezhiyefuze。

跌出“千亿房企”阵营，剥离房地产业务“双赢”？

“meidezhiyebolifangdichanyewushiyigeshuangyingdejuece。duiyumeidezhiyeeryan，keyijizhongziyuanhejinglifazhanqitayewu，shixianqingzhuangshangzhen。duidagudong（heshijiazu）eryan，keyiyijiaodidejiageshougouzheixiezichan，weijiazuqiyedailailiyi。”zhangyibiaoshi。

zuowei“meidexi”fangdichangongsi，meidezhiyezi2004nianchengliyilai，zhangqizaizhusanjiaodiqushengeng，bingzai2010nianhoukaishiquanguohuabuju，yewufugaizhusanjiao、xinan、zhangjiangzhongyou、zhangsanjiao、huabeiwugedaqu。

2014nianjiezhu“penggai”zhengce，gongsixunsukuodaguimo，bingzai2018nianchenggongshangshi。jinguanzai2019niantiqianwancheng“qianyixiaoshou”jihua，dandaole2022nian，gongsihaishidiechule“qianyifangqi”zhenying，2021niandelishizuigaoxiaoshouewei1371yiyuan。

xingyexiaxingyejigongsifazhandailaitiaozhan。2024nianqian5yue，meidezhiyeleijimaifangjin169.4yi，tongbijianshao52%。gongsizaitudishichangshangchuxian“shousuo”，meidezhiyezai2023niancaibaozhongcengtidao，zuijin5niantuichuledali、liuzhou、zhongshan、zhoushan、taishan、shijiazhuang、taizhoudengchengshi。

jinguanruci，jiezhi2023nianniandi，meidezhiyerengyouyue2650wanpingfangmidetudichubei，fangdichankaifajixiaoshouyewu（bubaokuojituanchiyoujiyunyingdeshangyewuyehechanyeyuan）sheji319gewuyekaifaxiangmu。

tongnian，meidezhiyedefangdichankaifayewudezongzichanda1971yiyuan，nianshouruda700yiyuan。

jiezhi2024nian6yue25ri，meidezhiyezonggufenshumuwei14.35yigu，hexiangjianjiazuyongyou81.13%degufen，ancijisuan，xiaogudongdegufenzongshuyuewei2.71yigu。ruguoxiaogudongmenxuanzemeigu5.9gangyuandexianjinbuchang，gongsixuyaozhifubuchaoguo16yigangyuan（yueherenminbi13yiyuan）。

fenpaiwanchenghou，meidekonggujiangquanmianshougoufangdichankaifayewusuoshugongsideshengyuguquanzhi100%chigu。juxinmeiti“dichankxian”baodao，wulunzhongxiaogudongshifouxuanzefenpaigufen，zuizhong，hexiangjianjiazudouhuiquanzichigubolidiaodefangdichankaifayewu。yejiushishuo，hexiangjianjiazuzuiduoxufuchushiduoyigangyuan，jiukeyijiangzichanjinliangqianyidefangdichankaifayewu“siyouhua”。

zhangyijinyibuzhichu，jiazuqiyenadaozheixiezichanhou，kenenghuixuanzemanmanxiaohuahefazhan，erbushilijijinxingdaguimokaifa，yinweifangchanhetudidengzichanzaizhongguojingjifazhandebeijingxiarengjuyouzhangqijiazhi。

songqinghuiyerenwei，hexiangjianjiazuzheimezuoshichuyuzishenliyidekaolv，tongguojiangfangdichankaifayewudeqianzaifengxianyumeidezhiyejinxing“qiege”，bujinyouliyudichankaifayewuhuodegenghelideguzhi，yeyouliyutigaomeidezhiyedeyunyingxiaolvhezhuanzhudu。zheiyijucuoduihexiangjianjiazudeliyiyeshiyizhongbaohu。

《2024hurunquanqiufuhaobang》zhong，82suidehexiangjianjiqijiazucaifuzengzhang4%，yi2000yiyuanchengweifoshanshoufujiazu，weiliezhongguodi6，quanqiudi46wei。

降低房地产业务的潜在风险，美的全球化步伐加速

2024nian4yue29ri，meidejituanzaidudibiaogangjiaosuo，yitushixian“a+h”gushuangzhongshangshi。zheiyijucuodebeihou，shimeidejituanshenhuaqiquanqiuzhanlvebujudekaoliang。

ju“caixin”baodao，xianggangxiezongcelveguanlijituanlianhechuangshirenhuanglichongrenwei，zaizheiyimingandeshijiandianshang，hexiangjianjiazukendingxiwangzuidaxiandudijiangdifangdichankaifayewudeqianzaifengxian，bimianfangdichanyewuyingxiangtongxiqitashangshigongsidegujia，jinguanmeidezhiyehemeidejituanzaiguquanshangbingwuguanlian，danshikongrenjunweihexiangjianjiazu，zibenshichanghuohuidanyoufengxianmanyan。

ciwai，meidejituandequanqiuhuabufazaijinjinianxianzhujiakuai。

zi2006nian，meidejituanjiuyijingkaishiqidonghaiwaizhijietouzijianchang(odi)jihua，bingzaihaiwaijiangyixiliejiadianpinpaishourunangzhong，qizhong，shougouleaijikongdiaopinpaimiraco32.5%degufen、wanchengduideguokukajiqiren100%deguquanshougou、shougouyidalikongdiaopinpaiclivet80%guquan。

ciwai，meidejituanzai2021niantichule：dao2025nianhaiwaixiaoshoushourutupo400yimeiyuandemubiao，bingzai2022niannianbaozhongqiangdiaolecongbentuhuaqiyexiangquanqiuhuaqiyezhuanxingdejuexin。

congyejilaikan，meidejituansichengshourulaizihaiwaiyewu。2022nianji2023nian，meidejituandehaiwaiyewuzhanbifenbiewei41.48%、40.38%。zaichongciganggushangshide《zhaogushu》zhong，meidejituanyejianggongsidingweicheng“yijiaquanqiulingxiandekejijituan”。

yucitongshi，gongsijinxingleduoniande“binggou”，bansuizheyewubujudeduoyuanhua，yimeidejituan、hexiangjianweihexin，hengkuazhizao、qiche、yiliao、dichan、huanbao、yingshi、jinrongdengxingyedezibenbantuyiyuranchengxian。

meidejituandeyewujiagouzai2020niandiyejingliledaguimodiaozheng，congsidabankuaizhuanbianweiwudayewuqunzu，baokuozhinengjiaju、jidian、nuantongyulouyu、jiqirenyuzidonghuayijishuzihuachuangxinyewu。

zheiyidiaozhengbansuizhejituanzaiduogelingyudexintouzi，ru2020nianshougoulingwangdiantijinjundiantiyewu，2021nianchenglimeikenbandaotijishuyouxiangongsijinjunbandaotixingye，yijichenglimeide（hainan）kuajingdianshangyouxianzerengongsitansuokuajingdianshangshichang。

chucizhiwai，meidejituanhaijihuajinyibubujuxinnengyuanqiche。2020nian，meidejituantongguoxiashuzigongsiguangdongmeidenuantongshebeiyouxiangongsi，shougoulehekangxinnengkejigufenyouxiangongsi。

muqian，meidejituanyijingyubosh、huawei、baoneng、biyadidengzhankaihezuo，yanfachejiahulianxitong，jinyibutaruxinnengyuanqichedenengyuanguanlixitong。

keyifaxian，jin3nianlai，meidejituanyixianhoukuajiebujulezhuruxinnengyuanqiche、dianti、bandaoti、yiliaoqixienaizhikuajingdianshangdengduoxiangyewu。

yanyuejinrenwei，cicimeidezhiyedediaozhengnenggouyumeidejiajuzhizaoyedengchanyejiehe，fahuixindeyoushi。tongshi，tayetixingdao，dichanyewuzuikunnandeshihoukenengyunyuzhexindeshichangjihui，yinciqiyezaijinxingzhanlvediaozhengshiyinggaibaochilinghuoxing，shidangliuyouyudi，yimiancuoshixindejiyu。

tajianyimeidezaibaochizhanlvediaozhengdetongshi，yingjixuduifangdichanshichangjinxingqianzhanxingyupan，tebieshiguanzhuzhongdianchengshidechanyefazhanhebeihoudexinshichangxuqiu，yibianzhuazhukenengchuxiandexinjihui，jinyibufazhanyewu。

nizenmekandaimeidezhiyebolifangdichankaifayewudexingwei？pinglunquliaoliaoba！