Recently, the listed company Jinke has been having a share war. And Sunac China also offered the company an olive branch. According to open statistics, Jinke has a buildable area of 18.46 million square meters by the end of 2016. Statistics also show that Jinke is planning to expand its buildable area by 6.5 million square meters. Apart from that, Jinke has a value of stock of ￥71.527 billion, accounting 65.47% of its total asset.

　　At a conference in November 2016, Sun Hongbin explained his logic: increase the land bank through acquisitions. By March 25th 2017, Sunac China has already accumulated a land bank of 79.12 million square meters. In 2015, the company only had 27.20 million square meters.

　　As a matter of fact, LeEco has a rather large land bank. In accordance with LeEco’s real estate statistics, LeEco possesses a land of 10,000 mu in Moganshan in Zhejiang province, and a land of 5000 mu in Yizhuang, Beijing. The Economic Observer reports that LeEco had directly acquired a land bank of 8,300 mu. If we add the land bank still under negotiation with local governments, LeEco in fact has a land bank of 25,000 mu.

　　The Economic Observer also learned that LeEco had acquired lands in Beijing, Chongqing, Shanghai, Zhejing province, and two states in the U.S. These lands are mostly for industrial purposes while some are supplementary lands like residential area and office area. Additionally, LeEco has also reached strategic cooperation agreements with the local governments of Guiyang Free Trade Zone, Tianjin’s Ji county, Shenzhen, Zhangjiakou, Beijing’s Chaoyao district and Linfen etc. However, the relevant details haven’t been announced yet.

　　Seasoned real estate industry insider Zhu Xiaohong expressed that nowadays it’s getting harder and harder to acquire land through auction. “Getting lands from acquisition is quite a good move. In the future, the big fish will eat up the smaller ones. It’s a tendency,” Zhu said.

　　Sun Hongbin also mentioned that they could cooperate with LeEco on land acquisition during an investor meeting. “For instance, we can build movie theme towns, sport theme towns or car towns. “What should be done if Jia Yueting invested in LeSEE and the money runs out? Sell the lands? Who should take over?”

　　As Sun Hongbin gradually gets hold of LeEco’s quality assets, LeSports and YiDao slowly fade away from LeEco’s focus, it seems LeEco has found hope amid financial crisis. There is nothing more important than survival. It would be very difficult for Sun Hongbin to “let go of” LeEco since the company has such a large land bank and Le.com the listing shell. But many would wonder: what about LeEco’s actual holder Jia Yueting?

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　　The article is published with authorization from the author @Zhu Taowei, please note source and hyperlink when reproduce.]

　　Translated by Garrett Lee(Senior Translator at PAGE TO PAGE), working for TMTpost.