**June 13, 2025, Epoch Times**
**Real Estate Developer Bi Guiyuan Sells Property at Nearly 60% Discount**
In a surprising move, the Bi Guiyuan Holdings Group (Bi Guiyuan) recently offered a property in Guangzhou at a discount of 2.6 times, a price even lower than the land acquisition cost in 2017. Analysts believe that this move by Bi Guiyuan is a desperate attempt to survive under the dual pressures of “selling completed property + recovering funds for self-rescue.”
According to a report by the Xinjing News on December 14th, the luxury residential projects of Bi Guiyuan in Guangzhou’s Zengcheng and Bi Guiyuan Yunding have been on sale since the Dragon Boat Festival holiday, with over 80 units offered at clearance prices, including a four-bedroom unit of 130 square meters at an average price not exceeding 12,000 RMB per square meter.
Comparing the current price to the peak prices exceeding 40,000 RMB per square meter in the past, this new pricing represents a steep discount of 2.6 times. Additionally, the current price is lower than the prices of pre-owned properties in the area and even below the land acquisition cost of 2017.
The “price drop” clearance action at Bi Guiyuan Yunding has propelled the project to second place on the Zengcheng hotness rank. Local real estate agent Xiao Liu commented, “A 2.6-fold discount is quite exaggerated.” Xiao Liu revealed that the “Tower King” at Bi Guiyuan Yunding had previously sold at prices exceeding 40,000 RMB per unit, but the current prices are for the project’s “clearance building,” mainly comprising lower and middle floors, typically below the 17th floor. The average price during the peak period was around 30,000 RMB per square meter, and now the current prices can be considered as “floor prices.”
In response, a source familiar with Bi Guiyuan stated to the media that the products at different times are not easily comparable. After the clearance at Yunding, the company will not develop new properties, only considering new land development after completing the “selling completed property” mission.
In 2018, Bi Guiyuan Yunding opened as the “first luxury residence of the Yun Series.” The highest net signed price that year exceeded 30,000 RMB per square meter, with the large flat products surpassing 40,000 RMB per square meter. The current clearance price of nearly 12,000 RMB per square meter offered by the project is even lower than pre-owned properties, and market listing prices are even below the land acquisition cost from that year.
Data from Ke Rui Info shows that the land acquisition cost for Bi Guiyuan at that time was close to 15,000 RMB per square meter, with a premium rate exceeding 40%.
The report notes that the current low-price clearance is Bi Guiyuan’s response to the dual pressure of “selling completed property + recovering funds for self-rescue.” It is a necessary move in the face of challenging circumstances, reflecting the reality of “exchanging price for volume” in the Guangzhou suburban property market.
Bi Guiyuan mentioned in its 2024 annual report that, “Affected by economic conditions, market environment, consumer confidence, and other factors, operational pressure has increased while the gross margin of the real estate business has significantly dropped, facing substantial losses. Therefore, the group has spared no effort in self-rescue.”
Since facing a liquidity crisis in 2023, Bi Guiyuan has been focused on selling completed properties and repairing its balance sheet, making faster fund recovery a top priority. However, with the current unfavorable economic environment in China, the company’s sales have continued to decline this year. A statement released by Bi Guiyuan on June 6, 2025, shows that the company’s total equity sales in the first five months of the year amounted to 13.94 billion RMB, a decrease of 35.61% compared to the same period last year. Furthermore, in the first quarter of 2025, the company’s contract sales declined by 42.49% year-on-year, with continuous pressure on cash flow.
As of the end of 2024, Bi Guiyuan’s total debt reached 984.5 billion RMB, with a debt-to-asset ratio of as high as 95.1%. In 2025, around 9 billion US dollars of debt are due, posing enormous repayment pressure.
The report concludes that the pricing trend at Bi Guiyuan Yunding also serves as an indicator of the Guangzhou Zengcheng property market’s health. In a downturn cycle of the real estate market, “exchanging price for volume” is a common marketing approach.