This year, some real estate companies are still thriving
In 2022, the property market will become more and more difficult, not only for private companies, but also for state-owned enterprises. According to the China Index Research Institute, more than 60% of companies experienced a decline in November this year compared to the same period last year. Among these two indicators, the number of enterprises above 100 billion yuan has dropped from more than 40 last year to 16, and in 2020, it has dropped to 168 in 166. Many of the real estate companies, which were previously considered the largest in the industry, are also showing fatigue at this time. Fortunately, despite the tremendous pressure of the industrial downturn, there are still some real estate developers who have successfully passed this "heavy pressure test" by relying on their own good operational capabilities. Among them, there are many state-owned enterprises and well-known real estate developers.
From their stories, we can understand that in this cold market, we can also see the development trend of the real estate market.
The 28 rule of real estate is highlighted.
State-owned enterprises continue to maintain their leading position.
Xiao Ming said that the current property market is already a very cruel 28 rule, and there are only two kinds of people who can survive in the future, one is state-owned enterprises, Poly, Yuexiu, Vanke, Greentown, etc., and the other is a hybrid company. The second is the outstanding private enterprises led by Longfor and Binjiang. Not to mention state-owned enterprises, in recent years, in the case of economic downturn, many state-owned enterprises have relied on strong capital strength to advance all the way. Of course, there are also big differences among state-owned enterprises, and Xiao Ming has listed only some of the state-owned enterprises that have performed well in this session for reference. The first Poly Development Company. A few years ago, Poly Development put forward the goal of "protecting five and striving for three", and many people in the industry did not dispute this. However, with the decline of the real estate market, one large private developer after another has fallen, and the ranking of Poly Development has climbed up year by year.
According to CRIC's statistics, Poly Development's total sales in the first 11 months of this year were 399.5 billion yuan, and the total equity was 271 billion yuan, which was the first in the industry in these two indicators, and established the status of "real estate brother". The reason why Poly Development can rank first is mainly due to the following three factors: First, the company has an active layout in 38 core cities. Although the land area acquired by Poly last year was lower than that of previous years, its investment in projects was more precise and concentrated. For example, in the first half of this year, Poly expanded sales in 38 central cities, up from 90% a year ago to 99%. The in-depth understanding of the city can allow Poly to give full play to its advantages in operation, and can also resist the cold of the property market to the greatest extent. For example, in the first half of this year, Poly ranked first in the country among 25 cities in the country, of which 46 cities ranked third, which also fully illustrates this point. The second is the stability of the team and the efficiency of the structure. Poly's turnover rate is very small, whether it is the general staff or the entire business team. A solid team can not only ensure that the company's business philosophy and strategic direction can be resolutely implemented, but also avoid the cost of vacancies due to personnel leaving, and the cost of recruiting and training new employees. At the same time, Poly development is also one of the few in the industry"Headquarters + Metropolis"One of the companies with a two-tier operating structure. Such a structure not only ensures the sensitivity of the headquarters to the market, but also ensures the overall strategy of the company, reduces information asymmetry, improves the efficiency of decision-making and management, and also ensures the execution of the entire company and the ability to adapt quickly.
The second is Huafa. Xiao Ming once asked a person from a ** company which company left him the deepest memory, and he said without thinking about it: Huafa. Huafa Group was only more than 50 enterprises five or six years ago, but in recent years, Huafa Group has been rising with an average annual growth rate of eight, and in November this year, the company achieved 1211The sales revenue of 500 million yuan increased by 18 over the same period last year31%, ranking 14th in the country. Huafa Group's real estate sales in Shanghai area were 2836.6 billion, ranking second in the country. Among them, Zhuhai's online retail sales were 2158.9 billion, topping the list. What is the strength of Huafa in the first: first, the strong support of major shareholders. The rapid development and growth of Huafa shares is inseparable from the major shareholder behind it - Huafa Group, which was born in Zhuhai Special Economic Zone and is the largest comprehensive state-owned enterprise in Zhuhai with strong strength. For example, Huafa Holdings invested in Oceanpower, a subsidiary of Huafa Holdings, in 2020-2021, with a total of 30 billion. In October, Huafa Group successfully passed 51A private placement of 2.4 billion obtained 285% of the controller's subscription. The second is to carry out planning in the central urban area and coordinate with multiple parties to achieve accurate land acquisition. In order to ensure the maximization of project benefits, the operation, marketing and cost departments of Huafa Group have been involved in the development of the project as early as the early stage, and provide support for the judgment of the project from the two aspects of project operation and sales. In terms of planning strategy, HUAFA will focus on 11 central cities such as Shanghai, Shenzhen, Guangzhou, Hangzhou, Beijing, and Zhuhai. Thanks to the strength of population, industry and economy, these large cities have achieved good results in terms of both the ability to buy houses and the collection of sales proceeds. In terms of market development, Huafa is one of the earliest real estate developers to carry out online sales. For example, their marketing management center, strategic operation management center, and financial management center formed a "three-center joint review" to speed up the joint review of sales policies.
Each region also divides the products on sale into five categories each month based on sales**, traffic, profits, etc., and continues to implement the strategy of "compensation where there is loss".
The third is Yuexiu Group. In this difficult year, Yuexiu Real Estate is one of the few companies that has maintained steady growth in revenue and profitability. Yuexiu Group's contracted sales in the first November of 2022 were 1,329100 million, an increase of 29 over the same period last year1%, exceeding the plan for the whole year. Why can Yuexiu Property go against the market?First, the land reserves are relatively large. In recent years, Yuexiu Real Estate has continuously obtained.
As of the end of June next year, the company has a land reserve of 28.13 million square meters, 93% of which is in first-, second- and third-tier cities, and 403%) accounted for 461%, and 18 in East China8%。Due to the advantages of geographical location and high-quality products, the company's average selling price is ** every year, which is also the biggest guarantee to ensure the company's profitability. In 2022, the average selling price of Yuexiu homes will be 30,200, compared with the same period last year**95%, far more than the average unit price of 100 real estate companies 16200。The average selling price of Yuexiu in the previous year reached 33,800 per square meter, 22 more than the same period last year9%。The second is a powerful commodity. In the past two years, Yuexiu has been investing in high-end real estate, and has shown good performance, for example, last year, the sales of a real estate exceeded 16 billion, becoming the top four in domestic sales, and this time, there are also many new real estate pre-sales.
On the one hand, Yuexiu Group has carried out continuous innovation in product design, and at the same time, it also attaches great importance to the construction of standardized systems.
For example, in terms of product standardization, Yuexiu Real Estate has established a complete product operation system, and continuously improves the strength of products through customer research, product standardization, BIM system establishment, and integration of design and construction.
The fourth is China Resources Real Estate.
In recent years, the development speed of China Resources Real Estate is also well known, and entering the top three in the national real estate industry will become the biggest suspense of this year.
CR Real Estate's contracted sales in the first 11 months of this year were 2,860300 million, an increase of 136%。Rental income from real estate increased by 39 percent over the same period last year4% to 230900 million yuan.
Compared with other real estate developers, CR Real Estate has more complex and diverse characteristics.
The first is the collaboration of multiple business modes.
The first thing CR Real Estate has been able to turn around is its unique "3+1" integrated business model.
Among the three main businesses, development and sales are the engine of the company's development, commercial real estate has brought long-term and stable capital flow to the company, and light asset management is an important growth point for the company's performance. Plus a business model, mainly agent construction, leasing, film and television, health, etc.
Through the "3+1" business cooperation, CR Real Estate's differentiated competitive advantages have been demonstrated, and it can calmly respond to the ever-changing industrial structure.
Second, the financial situation is good.
Backed by China Resources, CR Real Estate has obvious advantages in fundraising. In the past period, its weighted funding cost was only 356%, almost the lowest level in 10 years.
CR Real Estate's current ratio for the same period was 393%, while its net current ratio is 285%, which is the lowest level in the industry. Excluding restricted bank accounts, its liquidity is as high as 12791.5 billion, which is one of the few companies with more than 100 billion funds.
Third, the operation efficiency is high.
In the past two years, CR Real Estate has been committed to building a "flexible, efficient, capable and dynamic" corporate organizational structure.
For example, China Resources Real Estate has set up a leading group for institutional reform, and the headquarters working group is also one of them. Through the streamlining of the functional departments of the headquarters and the functional departments of the region, the urban company is integrated and the flat operation of the enterprise is realized.