Performance growth of top 100 real estate enterprises narrowed in September
According to the top 200 sales list of Chinas real estate enterprises from January to September 2020 released by Craig real estate research center, a total of 19 Enterprises sales amount exceeded 100 billion yuan. Country garden and China Evergrande still occupy the top two places in the list, with sales amount exceeding 500 billion yuan. Vanke Real Estate ranks third with 486.33 billion yuan in sales. Rongchuang China and poly development rank fourth and fifth respectively with sales of more than 300 billion yuan. China Shipping real estate and Greenland holdings are closely followed, with sales of more than 200 billion yuan.
In September 2020, the top 100 real estate enterprises realized a sales turnover of 119056 billion yuan, with a year-on-year increase of 29% in a single month, and the growth rate was narrowed. From January to September, the sales scale of the top 100 real estate enterprises increased by 9.2% year-on-year, and the cumulative growth rate of performance continued to increase after the first correction in July.
From the overall point of view, although the overall sales and supply rhythm of real estate enterprises moved backward, the supply volume in the second half of the year increased significantly. The sales volume of the top 100 real estate enterprises increased by 28.5% in the third quarter compared with the same period of last year, and recovered significantly compared with the first and second quarter. However, in September, the level of the removal rate of large-scale real estate enterprises showed a downward trend, and the pressure on real estate enterprises to go to the market in the fourth quarter was still high.
In the first three quarters of 2020, the scale differentiation among the top 200 echelons of real estate enterprises continued. Among them, the leading real estate enterprises continued to maintain steady development. The concentration ratio of sales volume of top 3 real estate enterprises reached 13.7%, with a year-on-year increase of 1.3 percentage points. Compared with last year, the concentration of trading amount of top 11-20 and top 31-50 echelons of real estate enterprises also increased to a certain extent, market share increased steadily, and the competitive advantage of scale real estate enterprises was further deepened. However, due to the impact of the epidemic situation on the resumption of work, sales and payment collection of large-scale real estate enterprises, the industry competition intensified. After the top 100, the concentration of sales volume of real estate enterprises dropped to a certain extent.
The performance is less than in previous years
Due to the epidemic situation, the performance of real estate enterprises in the first half of the year was greatly affected. Most enterprises bet on the inventory in the second half of the year, and the pace of selling in the third and fourth quarter was accelerated. According to the analysis of Yihan think tank, due to the sudden attack of the new crown epidemic, the sales channels of real estate enterprises have been closed. In order to maximize the objective impact, the real estate enterprises have made adaptive adjustments in the pace of pushing goods and arranged to launch more goods in the second half of the year. From the perspective of typical real estate enterprise value arrangement, the ratio of goods value in the first and second half of the year is 3:7, and some real estate enterprises account for 80% of the value in the second half of the year. September and October are the traditional sales months, especially in the year 2020 when the epidemic situation has an impact. In order to achieve the annual sales performance target, real estate enterprises will seize the opportunity to vigorously promote the value of sales.
At the end of the third quarter, how about the performance of the enterprise? According to Craig real estate research center, in 2020, the achievement of performance targets of real estate enterprises will be affected by the epidemic situation to a certain extent, and the overall performance is not as good as that in the same period of 2018 and 2019. In the first three quarters, nearly 30% of the real estate enterprises achieved the target rate of less than 65%. By the end of September, 8 companies had achieved a target completion rate of more than 75%, which was at a relatively high level in the industry, but the overall proportion was also significantly lower than that in the same period in 2019. At present, many real estate enterprises are under pressure in terms of sales and sales even though their annual performance targets are relatively low. In the fourth quarter, they still need to speed up the pace of selling and selling.
How about the living environment of real estate enterprises this year? Lu Wenxi, an analyst of Shanghai Zhongyuan Real estate market, said in an interview with the China times that it is quite difficult for most of the real estate enterprises to achieve this years goal. However, we also see the performance of leading enterprises. Their ability to resist risks is relatively strong and their performance is not affected.
Chen Xiao, an analyst at Zhuge housing data research center, told the China times that the current industry growth is slowing down. Although some real estate enterprises are optimistic about the completion of the performance, for some small and medium-sized real estate enterprises, they will face certain performance pressure next.
Three red lines test real estate enterprises operation strength
Since this year, no matter under the uncertain external environment or the impact of the epidemic, the bottom line of the regulation of the real estate industry has not been shaken. Recently, the three red lines of the new regulation of real estate assets management have been put into trial operation. The financing environment will be further tightened in the year. The capital pressure of real estate enterprises, the pace of land acquisition, development and sales will be greatly affected.
In the increasingly tight market environment, the operation ability of enterprises has been tested, and most of the real estate enterprises have become more cautious in decision-making, which also forces the real estate enterprises to speed up the improvement of operation and control efficiency, balance financial indicators, and actively look for the path of healthy and long-term development of enterprises.
In this regard, Chen Xiao said that under the impact of the epidemic in the first half of this year, most of the real estate enterprises have suffered. In addition, the central government has repeatedly stressed that housing is not fried, and more tightening policies have been introduced. In addition, with the new three red line regulations gradually approaching, the investment attitude of real estate enterprises is more cautious. In the case of limited financing, cash flow security needs more attention from enterprises. In the first half of this year, real estate companies have begun to pay attention to the safety of cash flow and pay more attention to sales collection, Lu said. Many enterprises become more cautious in their investment, slow down the pace of land acquisition, do not take or take less high price land, more inclined to the first and second tier cities, etc., which are the external performance of real estate enterprises to cope with the new situation. Chen Xiao pointed out that the main task of real estate enterprises in the future is to reduce debt, and they will pay more attention to the safety of cash flow and ensure sufficient cash flow. At this time, the real estate enterprises may increase their sales promotion efforts, broaden their marketing channels, and accelerate sales collection. Editor in charge: Zhang Bei editor in chief: Zhang Yuning source: China Times editor in charge: Zhang Mei_ NF2100
In response, Chen said that, under the impact of the first half of this year, most of the real estate enterprises suffered from the performance damage, coupled with the repeated emphasis on the central governments emphasis on the non speculation of housing and housing, and more tightening policies were issued. In addition, in the recent three red line new rules of Housing enterprises gradually approaching, the investment attitude of real estate enterprises was more cautious.
In the case of limited financing, cash flow security needs more attention from enterprises. In the first half of this year, real estate companies have begun to pay attention to the safety of cash flow and pay more attention to sales collection, Lu said. Many enterprises become more cautious in their investment, slow down the pace of land acquisition, do not take or take less high price land, more inclined to the first and second tier cities, etc., which are the external performance of real estate enterprises to cope with the new situation.
Editor in charge: Zhang Bei editor in chief: Zhang Yuning