"On December 25th, the 3rd China Real Estate Capital Summit-22 Property Management Capital Forum hosted by Securities Daily was grandly opened in Beijing.

Zizhong Zhao, Vice President of Economic Daily, Huang Yu, Executive Vice President of China Finger Research Institute, Li Changjiang, Executive Director and President of Country Garden Service, Pan Jun, Chairman of Color Life, Li Dalong, President and CEO of Ya Life Group, Wu Zhihua, CEO of Greentown Service Group, Huang Liang, Executive Director and CEO of Zhengrong Service, Zhu Jin, Chief Analyst of Real Estate and Construction Industry of CITIC Jiantou Securities, Lei Yiqun, Executive Vice President of Aoyuan Healthy Living Group, Wu Guoqing, General Manager of Hongkun Property, Zhao Zhenxing, General Manager of Wanwu Lianghang in Beijing, Hao Ju, President of Ruixin Consulting, Dean of Ruiguan Research Institute, Ye Mingjie, Executive Director and President of Shimao Service Holdings, Xie Chao, Vice President of Teslink, Bo Huang, CFO of Xinyuan Service, You Jianfeng, Chief Strategy Officer and Secretary of Xincheng Yue Service Group, and other business representatives attended the forum, offering suggestions and suggestions for the development of China property management industry around issues such as where property management enterprises will go under the empowerment of capital and technology.

At this level of meetings, the leaders of enterprises are usually invited and attended, and their speeches basically represent the thinking of corporate governance and thinking about the future development of the company.

with this rare opportunity, we also try to comment on the future development of related companies and the views of the helm according to the speeches (drafts) made by the big brothers in the forum. For the speeches of the big brothers, please refer to Articles 2-6 today.

(It is these people who attended the meeting, don't worry, the author of this article can't be found in it)

NO.1: Li Changjiang, President of Country Garden Service

Country Garden Service should be a leading international new property service group

"How to achieve 1 billion revenue? The first is property services, including business. The second is urban service. The third is value-added services, which are the three main waterways. Of course, maybe in the future, we will gain something in technology, technology products, technology patents and even operating platforms. "

Comment: There is nothing particularly novel. What makes the author feel good is that after the merger, the goal is to make a big cake together, rather than a zero-sum game for the control of the merger. The internationalization in the title was not specifically elaborated in the speech, but it was introduced in Guan Wei's tweet on December 24.

how to achieve 1 billion revenue? This number has been elaborated in detail with two special articles before, which can poke "these property leaders, the sword refers to the dream of 1 billion" and "leading property enterprises, how to realize the dream of 1 billion?" 》。

NO.2: Color Life

Chairman Pan Jun: Let the residents of the community really get involved and let the community have a temperature

"Why should we upgrade from the management of property management to the service of people, and finally to the integration of the community? This is the issue of community integration that I started to ask this year. Therefore, we must upgrade our dimensions in the future.

how to upgrade? It is necessary to truly integrate the residents of the community; Second, it should be combined with party building; Third, it is necessary to get through with street offices, neighborhood committees and community workstations. The most important thing is to truly interact with the industry Committee. "

Comments: As the "big brother" who has contributed greatly to promoting the property industry to the capital market, after five years of blindfolded running, with the resignation of Tang Xuebin, it has started a comprehensive strategic reflection and adjustment.

As the saying goes, Mr. Pan didn't elaborate too much on market value and expansion, but returned to the essence of property services and the basic business unit building to conceive and conceive. Although shares are no longer sexy, but do a good job in fundamentals and community service, we can finally usher in the return of value.

NO.3: Li Dalong, President and CEO of Ya Life Group

: Differentiated positioning and brand independence of property companies

"The current differences of property companies are mainly reflected in scale and market value. The capital market still regards property companies as affiliated companies of real estate companies. One of the reasons for the decline in the valuation of property stocks this year is the impact of the three red lines in the real estate industry. In the future, the differentiation of property companies will depend on their ability to control capital. With the constant impact of capital, the property management industry will accelerate integration and differentiation, and head property companies will have the opportunity to enjoy the value dividend of the A-share market. "

Comments: Li Dalong, the president, was born in finance. He joined Ya Life Group in 216. In four years, through the interaction between industry and finance (controlling capital), he led Ya Life Group's revenue to leap from 1 billion yuan to 1 billion yuan. This should be the helm who knows the capital best and controls it best in the property industry at present. No wonder he can trade a listed company with a market value of nearly 5 billion at a young age (born in 1986, aged 34).

What we are most looking forward to is the persistent return of shareholders and management of Ya Life to A-shares. I believe that Ya Life Services will realize the desire of A+H dual layout before long. Don't be afraid, friends of A-shares.

NO.4: Greentown Service

Wu Zhihua said that this is the current strategic adjustment of Greentown Service, which is expressed by an equation, that is, the future of Greentown Service = (people-oriented+technology) ecological platform.

Comments: Greentown service has always been regarded as the explorer and leader of the industry, especially in the innovation of business model and the expansion of value-added services. Like a preacher, Greentown service has constantly gained new knowledge and new insights, and has spread the classics and sent the way for industry enterprises. Although listing in recent years, the limelight is decreasing, but the excellent management ability of always online. Keep watching!

NO.5: Zhengrong Service

"Similarly, we also found that the company's value and price are not the same thing, and they often deviate from each other. I am sometimes quite anxious, because the stock price performance is true, and the recent constant return of valuation has been affected, and many colleagues have been affected, and I can't sleep anxiously. Later, I asked a master, who said that you don't have to care about the capital market at all, and the capital market price and value deviate from each other.

It's equivalent to the relationship between people and dogs. People will walk their dogs. This dog is the stock price, and people are the market value of the company. As long as people's value keeps moving forward, no matter whether the dog is in front of people or behind people, the company's value keeps moving forward, and it will definitely come back to you. From this perspective, we will truly manage the company's value and do a good job in fundamentals, and we will definitely get a better stock price return in time. "

Comments: Mr. Huang's speech is quite good, except for the paragraph marked in red above, this number expresses regret. There are two points:

1. "Rough words" means improper expression, and it is really inappropriate to use people to walk dogs to discuss the fluctuation relationship between stock price and market value. A more appropriate expression should be "the price always fluctuates around the value. As long as we focus on the creation of value, the price will eventually return to the track of correctly reflecting the value".

2. "The reason is also rough". "We really do a good job in the company's value management and fundamentals, and we will definitely get a better stock price return in time." This good definition standard lies not in you, but in the capital market, in the evaluation index system of investment banks and professional institutions. In addition to walking with your head buried, you have to look up at the sky.

When you look at Country Garden Service and Yongsheng Life Service, the stock price has been fluctuating and rising, while Zhengrong Service, China Shipping Property and Financial Street Property have been fluctuating and falling all the way. Can you say that investors have no vision? Can you say that the business operation is not good?

the product management market has the logic of product management, and the capital investment market has the logic of capital market management. We should embrace it actively, tell the company's vision and the logic of creating value with words that the capital market can understand, and make good use of the power of capital to win a win-win situation between the product market and the capital market, just like Country Garden Service and Elegant Life Service.

it is the enterprise itself that despises capital and refuses to communicate well with it.

NO.6: CITIC Jiantou Securities

"In the future, I think the most important thing is that everyone thinks you are a consumer enterprise, and your financial indicators are consistent with those of consumer enterprises. At present, there are only Maotai and non-Maotai in the market, and the technology stocks only have Maotai-flavor technology. Why is it good? It is because the cash flow is good, because the profit is deceptive on the accounting table, and the cash flow is real. "

comments: peers don't comment on peers, and agree with his views on the valuation of "consumption" of listed property companies. In fact, the fund industry also thinks so. Many funds with "consumption" themes have laid out excellent enterprises such as Country Garden Service, Yongsheng Life Service and Greentown Service. If you are interested, you can look at the special research report "both consumption attributes and long-term investment value".