< p > YOUNGOR announced on Thursday night that it was intended to return the "land king" Hangzhou Shenhua block, which was once a high price, and will no longer be developed.

In accordance with the regulations, if YOUNGOR and the Hangzhou land and Resources Bureau terminate the contract, the 480 million yuan paid deposit will not be returned.

To this end, the company had to make provision for impairment of 480 million yuan.

Last Friday, YOUNGOR's shares plunged, dropping more than 5.3%, closing down 2.43%.

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< p > Shenhua No. 53 and No. 56 are two of the land kings in Hangzhou in 2010.

In November 30th of that year, YOUNGOR won the two sites at the price of 1 billion 256 million yuan and 1 billion 165 million yuan respectively.

YOUNGOR announced that it paid the first period of the land pfer price in the agreed time, totaling 1 billion 210 million yuan, of which 484 million yuan was the deposit for the performance of the contract.

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< p > but YOUNGOR has no action on the two plots for more than two years, and has repeatedly heard rumors of retreat.

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< p > industry analysis, YOUNGOR Shenhua block floor price is as high as 18 thousand yuan / square meter, such a project can only take the high-end route.

At the beginning of 2012, the lowest price of Shenhua plate was below 16 thousand yuan per square meter.

As the land of YOUNGOR, the land is caught in the embarrassment of "flour is too expensive."

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< p > YOUNGOR stated in the announcement that since January 2011, the policy environment, market situation and supply and demand changes in the real estate market have undergone great changes.

After a comprehensive weighing, the company decided to terminate the development of Shenhua block.

The company also said that the company's real estate business is developing smoothly. It is estimated that the real estate sector will bring more than 8 billion yuan of business income in 2013, up 53% over the same period. However, after deducting the assets impairment provision, the annual net profit of the real estate sector will be slightly lower than that of last year.

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< p > < strong > news analysis < /strong > < /p >

Under the regulation of < p > < strong >, the listed companies appear "check out" tide < /strong > < /p >.

"P" YOUNGOR high price to take the land, the domestic real estate temperature is high, non real estate listed companies are also scrambling to be "real estate business".

In addition to < a target= "_blank" href= "//www.pmae.cn/" > textile < /a > a target= "_blank" href= "//www.pmae.cn/" > dress less than "YOUNGOR", YOUNGOR, seven wolves, Mei, Haier, Suning, Gome, SUPOR, GREE, Galanz, AOKANG, Wahaha, Xi Langlang, AOKANG, the Great Wall mattress, electric appliances, as well as wine, wine, and Alibaba have been involved in real estate.

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< p > however, since the beginning of a series of real estate regulation policies, the number of real estate sideline businesses has increased significantly, and the two cities have once seen a wave of "check out".

Insiders said that this is mainly concerned about the control policy, small and medium-sized real estate developers have been hit the most, it is better to take the initiative to divest the real estate sideline, focusing on the main business.

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