On the last day of November, the sales list of the top 100 real estate companies came out.
What are the characteristics of the list, which is one month away from this year? From this list, what kind of sales of the top 100 real estate companies can be obtained throughout the year? There are many typical real estate companies, let's focus on a few:Poly, which has continuously dominated the list, Vanke, the millennium old twenty-thousand-year-old, and the soaring Xiangyu Real Estate and the ** landlord Zhongjian Department. We interpret it shallowly, you understand deeply, think out the truth, and gain something!
Data**: China Index Institute's sales performance ranking of China's real estate enterprises from January to November 2023.
Poly: No. 11 in a row this year
Not surprisingly, in total sales from January to November, Poly is still the first. The sales of 399.5 billion yuan are 56.5 billion yuan different from the 343 billion yuan of Vanke, which ranks second. I took a look at the top 100 sales list released every month this yearAs of November, Poly has won the first place 11 times in a row, replacing the champion "Country Garden" at the end of last year. Poly also has a title, it is worth mentioning that in the first half of this year, Poly and Vanke Real Estate became the only real estate companies with sales of more than 200 billion yuan during the period.
From the original Zhaobao Wanjin, to the replacement of "Biwan Hengrong" a few years ago, the senior management of Poly once shouted that it was necessary to "return to the top three", and then to the fixed position of the "Baowan" champion and runner-up, Poly has been moving forward, especially in the moment when private enterprises have been thundering one after another, and under the background of the era of outstanding advantages of state-owned enterprises, Poly has caught up. Poly can be regarded as having eaten the dividend of "changing times".
From the ferocity of land acquisition, we can also see the trend and momentum of Poly's future sales. In the first half of the year, the entire land market was still cooling, and the enthusiasm of real estate companies to acquire land was not high, butPoly won a total of 41 projects, with a total land price of 70.9 billion yuan, an increase of 17% year-on-year, equivalent to an average of more than 10 billion yuan per month.
From a regional perspective, land acquisition is mainly concentrated in first- and second-tier cities with high certainty, of which 7 are located in the first-tier cities of Beijing, Shanghai and Guangzhou, 12 are located in the new first-tier cities, and 16 are located in the second-tier cities. In the 38 core cities, the total land price and expansion area accounted for 99% and 95% respectively, an increase of 9 percentage points and 21 percentage points over the same period last year.
Annual sales, no surprise, Poly first, worthy of praise!
Vanke: The second millennium is also quite good
Not surprisingly, from January to November, Vanke still ranked second with sales of 343 billion yuan, a difference of 56 billion yuan from the third place China Shipping's 287 billion yuan. The second millennium is still quite good, at least there are no big ups and downs,If you want to talk about stable happiness, it must be Vanke
Vanke has a lot of news this year, and the pressure is not small. But every time on the cusp of the storm, it seems to have survived and did not set off strong winds and waves. The most lethal is the double kill of stocks and bonds from October to November, Vanke's share price once fell to a new low in nearly 5 years, and it was rumored that Vanke was also going to thunder, but then, Shenzhen SASAC and Shenzhen Railway's major shareholders came forward to support Vanke, and also said: Vanke's fundamentals are safe, even if Vanke encounters liquidity difficulties, the SASAC will help to the end, everyone relax. Vanke has finally passed this hurdle.
If you want to say that Vanke has two highlights this year:
Clause. First, there is finally a big move at the product level, the Donglu project from Vanke Beijing, the first project to return to the Beijing property market after four and a half years, still attracted a lot of attention, and 345 sets were removed on the first opening day, which also brought a touch of warmth to the property market.
From the product level, after so many years of deep cultivation in real estate, Vanke's products do not seem to have a very prominent concept point on the C-side, which is also where Vanke needs to strengthen, after all, the future of real estate is different from the real estate that was too kidnapped by finance in the past, and products that are easy to rent and sell are the way to win. Vanke has consciously strengthened its efforts in terms of products this year, and at the annual 2023 ** communication meeting, all business management teams told Vanke's new story from the product level.
Clause. 2. CICC SCPG Consumer REIT, a subsidiary of Vanke, was approved for registration by the China Securities Regulatory Commission (CSRC) and became one of the first batch of consumer infrastructure REITs. This is a great thing, Vanke leaders Yu Liang, Zhu Baoquan and others expressed their joy in the circle of friends. As Vanke's announcement said, this will help revitalize the commercial real estate stock projects of SCPG Group, open up the exit path of asset-heavy businesses, improve the operational efficiency of shopping malls, attract funds to participate in investment, and enhance liquidity.
In the future, Vanke's commercial, long-term leasing, logistics, and property management can all embark on this capital road, which can be regarded as opening another door, which is worthy of Vanke's hard work for so many years.
The most bullish state-owned enterprise Xiangyu Real Estate: the scale has skyrocketed and profits have declined
As always, as expected, the sales performance of central state-owned enterprises is still very strong. From January to November, the large enterprises with sales growth of more than 10% year-on-year were all state-owned enterprises: China Shipping, China Resources, C&D, Yuexiu, Huafa, Lianfa, ITG Real Estate, China Construction Yipin, China Construction Dongfu, Xiangyu Real Estate, etc.
There is a name of latecomer, I don't know if you have noticed, friends who are not very familiar with the real estate circle, may not have heard of this name - Xiangyu Real Estate.
Xiangyu Real Estate has been crowned as "the most bullish state-owned enterprise in the real estate circle". In the first half of 2022, Xiangyu Real Estate's sales were only 38200 million, ranking outside the 130th on the list, and in the first half of 2023, Xiangyu real estate sales will reach 310500 million yuan, jumped to about 30, and the performance soared by 713%, you just say that it is not a cow, right? In the most difficult two or three years in the real estate circle, the annual sales of Xiangyu Real Estate have been increasing year by year, and from 2020 to 2022, the sales volume will be 122700 million yuan, 169300 million yuan, 330400 million yuan, of which the performance growth rate in 2022 will reach 95%, almost doubling the growth. If you shoot the "Hurricane" TV series in the real estate circle, it must be Xiangyu Real Estate.
In terms of land acquisition, Xiangyu Real Estate's expansion ambitions continue, and the state-owned enterprise from Xiamen has a particular preference for Shanghai. In 2021 and 2022, Xiangyu Real Estate will acquire more than 20 billion yuan of land, and the amount of replenishment in Shanghai accounts for 72% of the total land acquisition in the past two years. In the first 9 months of this year, Xiangyu Real Estate still loves Shanghai and other Yangtze River Delta regions, with an additional value of 131500 million yuan.
StillUnder the soaring scale, the decline in revenue and net profit is the main problem it faces next. In the first half of 2023, the sales revenue of Xiangyu Real Estate decreased by 76% compared with the same period last year81% to 63.8 billion yuan, the total profit of the current period lost 25.4 billion yuan, net profit loss attributable to shareholders of the parent company 2800 million yuan, and the gross profit margin decreased by 4195%。
Take the land "fierce master": the construction department
Among the central state-owned enterprises whose sales increased by more than 10% year-on-year from January to November, have you noticed a phenomenon: there are several in the prefix, China Construction Yipin, China Construction Dongfu, and China Overseas Real Estate. They are all real estate companies under China State Construction. In addition, China Construction Zhidi also belongs to China State Construction.
Let's take a look at the sales of these companies from January to November:
China Overseas Real Estate, 287 billion yuan, ranked 3rd
China Construction Yipin, 468300 million yuan, ranking 34
China Construction Dongfu, 450900 million yuan, ranking 35
Zhongjian Zhidi, 245400 million yuan, ranking 58
In fact, compared with sales, this year's contrarian land acquisition in the land market is more attention-grabbing, and it is known as the "first landlord". The list of land acquisitions in the first 11 months of the institution has not yet been released, so let's take a look at the land acquisition situation in the previous 10 months.
According to the data of the China Index Institute, in the first 10 months of this year, the total amount of land acquired by the 8 engineering bureaus under China State Construction was 513600 million yuan, which has exceeded the amount of 41.5 billion yuan of land acquisition in the whole of last year, and surpassed China Merchants Shekou to rank 6th in the industry equity land acquisition list. Among them, China Construction Dongfu with 164The amount of equity land acquisition of 6.6 billion yuan ranks first in the ranking of China Construction Department.
It is estimated that you still have the impression of this famous scene: on March 23, 2023, the auction of the Zhuxinzhuang plot in Beijing, the number of participating companies reached a new high, attracting as many as 42 real estate companies to participate in the lottery, and 5 subsidiaries of China Construction participated in the auction, including China Construction Yipin, China Construction Xinhe, China Construction Zhidi, China Construction Jiuhe and China Overseas Real Estate.
Why is the China Construction Department taking the land so fiercely? Liu Shui, director of enterprise research at the China Index Research Institute, said that China State Construction's assessment of its subordinate real estate companies has promoted the efforts of China State Construction to acquire land from various real estate business companies. China State Construction's main assessment indicators for real estate companies include operating income, profit, cash flow, sales, etc., and the increase in operating income and sales has also increased land acquisition efforts and accelerated development speed due to the need to expand scale.
However, at the same time of rapid expansion, the internal friction of peer competition may also be a problem faced by the China Construction Department. There is a saying in the market that China Overseas Real Estate is more like a regular army, while the bureaus of China Construction Department are like local armies, and in the long runIt is still unknown whether the "local army" will be absorbed by the "regular army" in the future and eliminate competition among the industry.