On December 31, China Index Research Institute and CRIC Real Estate Research successively released the sales data of real estate enterprises in 2023. On the whole, there are 16 real estate companies with sales of more than 100 billion yuan, with Poly Development, Vanke Real Estate and China Overseas Real Estate ranking among the top three, and Poly Development is the only real estate company with sales of more than 400 billion yuan. 16 real estate companies have sales of more than 100 billion yuanAccording to the research data of CRIC Real Estate, according to the full-caliber amount, in the top 200 sales list in 2023, a total of 16 real estate companies have sales of more than 100 billion yuan, and 125 are among the 10 billion real estate companies. Among them, Poly Development ranked first with 424.6 billion yuan, and it is also the only real estate company with sales of more than 400 billion yuan. Vanke Real Estate, China Overseas Real Estate and China Resources Land all have annual sales of more than 300 billion yuan, ranking second to fourth respectively. 
According to CRIC data, the sales threshold of the top 100 real estate companies has shown an overall downward trend in the past four years, and it will be reduced to the lowest in 2023, such as the threshold of the top 10 real estate companies in 2023 has decreased by 3 percent year-on-year5%, the threshold of TOP100 real estate enterprises decreased by 4% year-on-year9%。
At the same time, although there will be 16 real estate companies with a full-caliber scale of more than 100 billion yuan in 2023, it has fallen to a new low in the past seven years. 
Yuexiu, China Resources, Jianye and others exceeded their targetsDespite the continuous adjustment of the market, some real estate companies still show strong resilience. According to the data of the China Index Research Institute, among some companies that announced sales targets in 2023, Yuexiu Real Estate, China Resources Land, Jianye Group, and Tiandiyuan have all exceeded their sales targets. 
According to CRIC data, among the top 100 real estate companies, China Overseas Real Estate, China Resources Land, China Merchants Shekou, C&D Real Estate, Huafa Shares, Yuexiu Real Estate, Poly Real Estate, Dahua Group and other sales have achieved positive growth, among which Lianfa Group, Guomao Real Estate, Xiangyu Real Estate and many other local state-owned enterprises have increased by more than 20%. At the same time, the sales performance of central state-owned enterprises is better than that of mixed-ownership real estate enterprises and private real estate enterprises. Among the top 100 companies with a year-on-year decrease in cumulative performance in 2023, a total of 31 companies will have a year-on-year decrease of more than 30%, including 27 private real estate enterprises. In addition, among the top 10 in terms of sales, there are 4 central enterprises, namely Poly Development, China Overseas Real Estate, China Resources Land, and China Merchants Shekou, 1 local state-owned enterprise C&D Real Estate, 3 mixed-ownership real estate enterprises, namely Vanke Real Estate, Greentown China and Gemdale Group, and 2 private enterprises, namely Country Garden and Longfor Group. First- and second-tier cities contributed more than eighty percentAccording to the data of the China Index Research Institute, in 2023, tens of billions of real estate companies will still focus on the layout.
First- and second-tier cities. 30 tens of billions of representative enterprises.
The total contribution of first- and second-tier cities reached 854%, an increase of 34 percentage points. Specifically, the proportion of sales contribution from first-tier cities has increased for two consecutive years, and will increase by 2 percent in 2023 compared with the previous year46 percentage points to 216%；Second-tier cities edged up to 638%；The third- and fourth-tier city markets continued to be under pressure, with a decrease of 33 percentage points. 
In 2023, Shanghai, Hangzhou, Beijing, Guangzhou, Nanjing, Chengdu, Suzhou, Wuhan, Xiamen, and Shenzhen will rank among the top 10 cities in terms of sales of 10 billion real estate enterprises. In terms of city distribution, the Yangtze River Delta, Guangdong, Hong Kong and Macao (Mainland), and Beijing-Tianjin-Hebei three major urban agglomerations accounted for more than 60% of the total sales. In addition, the Chengdu-Chongqing urban agglomeration has strong demand, and the proportion of sales increased by 1 year-on-year24 percentage points. 
Executives of a number of leading real estate companies spoke outSince 2023, various real estate companies have continued to promote delivery work and take multiple measures to improve the quality of delivery. Recently, a number of senior executives of leading real estate companies have also spoken out publicly and looked forward to the work of the new year. Among them, Mo Bin, Secretary of the Party Committee and President of Country Garden Holding Group, said in his New Year's speech that guaranteed delivery is the bottom line that Country Garden firmly guards. As of December 31, Country Garden has delivered more than 600,000 houses in 2023, far ahead in the industry, "The delivery challenge in 2024 will enter the deep water area, and in the face of a large number of delivery tasks, we have never relaxed our requirements for quality, opened the construction site to be visited and inspected by the owner, and made every effort to deliver perfectly." Li Xin, chairman of the board of directors of China Resources Land, said that in the new year, the operating performance should be further improved, the core competitiveness should be further improved, and the core functions should be further enhanced. It is proposed to promote the development and sales of business to further consolidate the position of the industry, and the operating real estate business will issue a high-quality China Resources commercial REITWe will continue to do a good job in the construction of the "urban operation model" in Houhai, Shenzhen, and accelerate the development of emerging industries such as agency construction, long-term leasing, and industrial real estateEffectively implement national strategies such as regional development, carbon peaking and carbon neutrality, and rural revitalization, and do a solid job in the construction of key projects such as Nansha, Guangzhou. In their New Year's speeches, the chairman, general manager and co-general manager of Yuexiu Real Estate said that in 2023, Yuexiu Real Estate's commercial housing sales will exceed the annual target and are expected to achieve double-digit growth year-on-year. They pointed out that in the new year, it is necessary to adhere to strategic guidance, focus on deepening core cities, strengthen targeted investment and diversified expansion, and promote new breakthroughs in urban renewal and TODPlan and implement relevant major projects. We will continue to strengthen and optimize the "second growth curve" business such as business management, material services, and health care. In addition, the China Index Research Institute said that the recent policy pointed out that the financing of real estate enterprises should be supported "without discrimination", and "three not less than" were proposed, so as to actively and steadily resolve real estate risks and build a new model of real estate development. In 2024, under the comprehensive impact of macroeconomic improvement and supportive policies, the sales of real estate enterprises are expected to bottom out and stabilize, and the risk clearance of real estate enterprises will be accelerated. CRIC believes that the real estate market is still both an opportunity and a challenge. Entering 2024, the business environment is still full of uncertainties, and real estate companies need to take proactive measures to adapt to new changes, promote sales decentralization, and ensure liquidity security. On the one hand, it is necessary to actively seize financing opportunities, expand financing channels, maintain stable cash flow, send positive signals to the market, and enhance brand confidence. On the other hand, we should actively grasp the market window opportunities, explore structural opportunities in different cities and different needs, do a good job in marketing and promotion, and improve the ability to realize the value of goods. Editor: Joy Review: Chen Siyang.