according to the actual situation of the top 1 real estate enterprises in recent five years, China TOP1 Research Group selected 5 qualified development enterprises based on the threshold that the annual real estate sales should reach 3 million yuan or the sales area should be 1, square meters from 27 to 29. According to the principles of combining scale with operational efficiency, combining growth potential with sound operation, and combining operational strength with social responsibility, By using factor analysis and related mathematical models, this paper makes in-depth analysis and research on 27 indicators and other data information of 5 real estate enterprises (groups) in six aspects, such as scale, profitability, growth, robustness, operational efficiency and social responsibility, scientifically and comprehensively calculates the comprehensive strength index of real estate enterprises, and studies and produces the top 1 real estate enterprises in China in 21.
at the same time, the TOP1 research group of China real estate takes the average primary property agency area of 1, square meters in 27-29 as the selection threshold, and according to the principles of combining business scale with profitability, combining enterprise status with growth ability, and combining primary property agency sales ability with planning ability, This paper studies the scale, profitability, growth, planning ability, first-hand property agency ability and development ability of hundreds of selected real estate planning agencies in China, uses factor analysis and related mathematical models to quantitatively calculate the comprehensive strength index of selected real estate planning agencies, and evaluates and produces the TOP1 Real Estate Planning Agency Enterprises in China in 21 and the Top 1 Real Estate Planning Agency Enterprises in China in 21.
Summary of the 21 China Top 1 Real Estate Enterprises Research Report:
The overall development of the top 1 real estate enterprises in China in 21 showed the following characteristics:
(1) Sales performance: the sales performance of the top 1 enterprises increased substantially, which promoted the recovery of the real estate market and the national economy
In 29, under the influence of policy support, loose credit, rigid demand and inflation expectations, China's real estate market is picking up strongly, and investment in real estate development directly drives GDP growth to 1.12%, which has a remarkable driving force and contribution rate to economic growth. As outstanding representatives of real estate enterprises, the sales performance of the top 1 enterprises reached a new high, with a total sales volume of 974.2 billion yuan and a sales area of 98.77 million square meters, up by 99.% and 77.% respectively. Compared with the national commercial housing sales growth rate of 75.5% and the sales area growth rate of 42.1%, the sales and sales area growth rates of the top 1 enterprises are 23.5 and 34.9 percentage points higher than the industry level respectively. After winning the market downturn with a leading edge in 28, the top 1 enterprises led the development of the industry at a faster speed in 29, making outstanding contributions to promoting the recovery of the real estate market and realizing the "eight guarantees" of national economic growth.
(2) Scale: financing actively expanded the scale of the top 1 enterprises, and the total assets and net assets increased by nearly 4% year-on-year.
In 29, the total assets and net assets of the top 1 enterprises achieved strong growth: the average total assets was 25.64 billion yuan, up 4.% year-on-year, the compound annual growth rate reached 37.7% in recent five years, and the total assets quadrupled in five years. The average net assets was 7.95 billion yuan, a year-on-year increase of 36.4%, showing a good development momentum.
The activity of financing in 29 is another major reason for the asset scale of the top 1 enterprises to increase, and its main features are as follows: (1) Large amount of credit granted by banks. (2) Backdoor listing is favored. (3) The IPO boom in Hong Kong has revived. (4) In terms of refinancing, there is a pattern of both additional placement and bond financing.
(3) Profitability: The top 1 enterprises are facing challenges in terms of profitability, with net profit increasing but gross profit decreasing
With the expansion of enterprise assets, the profitability of the top 1 enterprises has also been greatly improved, with an average operating income of 7.24 billion yuan, up 4.% year-on-year; The average net profit was 1.1 billion yuan, an increase of 57.7%. Among the top 1 enterprises, the number of enterprises with net profit exceeding 1 billion yuan is 26, an increase of 9 over the previous year. Ten companies, including Poly, SOHO China and Greenland, all achieved a net profit of more than 3 billion yuan.
the average gross profit margin of the top 1 enterprises is 3.3%, which is 6.5 percentage points lower than 36.8% in 28. A considerable part of the operating income in 29 came from the sales carry-over in 28. Due to the poor market sales in 28, many enterprises carried out some promotional activities, which lowered the gross profit margin in 29. Another reason for the decline in gross profit margin is that the growth rate of operating costs exceeds the growth rate of operating income. In 29, the growth rate of operating costs of the top 1 enterprises reached 53.1%, faster than the growth rate of operating income of 4.% in the same period.
(4) Growth: The growth rate of the top 1 enterprises is remarkable
In 29, the top 1 enterprises had a bumper harvest year and a rapid growth year. Their housing sales area increased by 77.%, real estate business income increased by 36.1% and net profit increased by 57.7%, both of which showed significant growth. At the same time, with the change of market situation, the top 1 enterprises generally raised the commencement plans made at the beginning of the year, and the newly started area reached 91, square meters on average in 29, up 13.4% from 794, square meters in 28 and exceeding the average level of 848, square meters in 27, which will provide guarantee for the market supply in 21.
(5) Robustness: The financial stability of the top 1 enterprises has improved, and the net operating cash flow has turned from negative to positive for the first time
In 29, the average advance payment of the top 1 enterprises reached 4.41 billion yuan, an increase of 81.4% compared with the previous year. The growth of the advance payment of the top 1 enterprises in 29 ensured the operating income and profit of the enterprises this year and next to a certain extent, laying a foundation for the steady development of the enterprises.
In 29, the operating cash flow of the top 1 enterprises turned positive for the first time in five years, with an average value of 69 million yuan; Judging from the number of top 1 enterprises with positive net operating cash flow, there were 47 in 27 and 46 in 28 respectively, but by the end of 29, the number of top 1 enterprises with positive net operating cash flow had reached 81, which reflected the obvious improvement of the cash flow situation of top 1 enterprises in 29.
(6) Operational efficiency: the asset turnover of the top 1 enterprises is accelerated, and the inventory digestion cycle is obviously shortened
The average total asset turnover of the top 1 enterprises in 29 was .38, and the rental information in Fuzhou was slightly higher than .34 in 28; The average turnover rate of current assets has increased from .4 in the previous year to .47, and the accelerated turnover rate has enhanced the profitability of enterprises. The average turnover rate of inventory is .56, which is higher than that in 28. The digestion speed of inventory is accelerated, and the digestion cycle of inventory is also reduced from 16 weeks in the previous year to 93 weeks. The shortening of the inventory digestion cycle also requires enterprises to maintain a moderate increase in land reserves to meet the needs of future market supply.
on the basis of the research on the TOP1 real estate enterprises in China in 21, the top 1 research group of China real estate evaluated the top 1 real estate enterprises in China in 21, including comprehensive strength, scale, profitability, growth and robustness.
comprehensive strength TOP1: Vanke Enterprise Co., Ltd., China Overseas Development Co., Ltd. and Poly Real Estate (Group) Co., Ltd. rank in the top three, Greenland Group ranks fourth, Evergrande Real Estate Group Co., Ltd. and Greentown Real Estate Group Co., Ltd. rank fifth, and the seventh to tenth places are Hesheng Chuangzhan Group Co., Ltd., Guangzhou R&F Real Estate Co., Ltd., Jindi (Group) Co., Ltd. and Beijing Capital Development Holding (Group) respectively. TOP1 enterprises with comprehensive strength have shown the characteristics of large scale, good profitability, rapid growth, strong robustness and high operational efficiency. Comprehensive strength The total assets of TOP1 enterprises reached 78.37 billion yuan in 29, up 42.2% year-on-year, much higher than the average of 25.64 billion yuan of the top 1 enterprises. The average net profit of TOP1 enterprises with comprehensive strength was 3.81 billion yuan, a year-on-year increase of 32.3%; The average asset-liability ratio of TOP1 enterprises with comprehensive strength remained at around 6% in 29.
Scale TOP1: The scale TOP1 enterprises are Vanke Co., Ltd., China Overseas Development Co., Ltd., Poly Real Estate (Group) Co., Ltd., Greenland Group, Greentown Real Estate Group Co., Ltd., Guangzhou R&F Real Estate Co., Ltd., Gemdale (Group) Co., Ltd., Longhu Group, Beijing Capital Development Holding (Group) Co., Ltd. and Capital Real Estate Co., Ltd.. Large-scale TOP1 enterprises continue to deepen their entry into the market after completing the nationwide layout. In 29, the average total assets reached 71.56 billion yuan, 2.8 times of the average total assets of the top 1 enterprises in the same period; The average income of real estate business exceeds 2 billion yuan, which is 3.2 times that of the top 1 enterprises in the same period; The average housing sales area is nearly 3.5 million square meters, which is 3.5 times that of the top 1 enterprises in the same period, with obvious advantages.
profitable TOP1: the profitable TOP1 enterprises are: China Overseas Development Co., Ltd., Vanke Co., Ltd., Hesheng Chuangzhan Group Co., Ltd., Poly Real Estate (Group) Co., Ltd., Zhuoyue Real Estate Group Co., Ltd., Shanghai Sansheng Hongye Investment (Group) Co., Ltd., Hejingtaifu Real Estate Holdings Co., Ltd., Sunshine 1 Real Estate Group Co., Ltd., Hangzhou Binjiang Real Estate Group Co., Ltd. and Forte. In 29, the net profit of profitable TOP1 enterprises increased rapidly, with an average of 3.9 billion yuan, 2.8 times of the average net profit of the top 1 enterprises, with outstanding advantages in profit level, among which the scale of excellent net profit increased significantly, up by 89.4% year-on-year. The average return on total assets of TOP1 enterprises reached more than 7%, 1 percentage point higher than that of the top 1 enterprises in the same period; The average return on equity is more than 2 percentage points higher than that of the top 1 enterprises in the same period, and the average return on equity in three years is 21.3%.
Growth TOP1: Growth TOP1 enterprises are: Greentown Real Estate Group Co., Ltd., Poly Real Estate (Group) Co., Ltd., Qingdao Haier (18.9,.8,.43%) Real Estate Group Co., Ltd., Shenggao Land (Holdings) Co., Ltd., Jiangsu suning universal (8.44,-.16). Growth TOP1 enterprises performed particularly well in the real estate market in 29, and achieved rapid growth. The average growth rate of real estate business income reached 112.1%, up 8.9% year-on-year. The growth rate of sales area is 151.5%, and the average growth rate of sales area in recent three years is 15.4%, showing a good development momentum.
Robust TOP1: The robust TOP1 enterprises are: China Overseas Development Co., Ltd., Vanke Co., Ltd., Shanghai Beichen Industrial Co., Ltd. (4.6,.1,.25%), Shanghai Aijia Haoting Real Estate Group Development Co., Ltd. and Financial Street (8.12,-.1,-1.22%). Robust TOP1 enterprises have maintained a stable capital structure and financial risk control ability for three years. In 29, the average asset-liability ratio was .61, which was lower than the average level of .68 of the top 1 enterprises in the same period, and the debt scale was more reasonable than that of the top 1 enterprises. The average value of advance payment is 7.43 billion yuan, which is 1.68 times that of the top 1 enterprises in the same period. The advantages of advance payment provide cash flow guarantee for the stable TOP1 enterprises and ensure the stability of enterprise operation.
operational efficiency TOP1: the TOP1 enterprises are Vanke co., ltd., Evergrande real estate group co., ltd., jinke real estate, Jiangsu Xincheng real estate co., ltd., Ningbo yinyi group co., ltd., Xinyuan (China) real estate co., ltd., SOHO China co., ltd., Xuhui group co., ltd., jindu real estate group co., ltd. and Shanghai zhongrui real estate group co., ltd. With the continuous expansion of enterprise scale, how to ensure the improvement of operational efficiency has become an important challenge for the top 1 enterprises. Operational Efficiency The average turnover rate of total assets of TOP1 enterprises in 29 was .58, which was higher than the average level of .38 of the top 1 enterprises, and the average turnover rate of total assets in recent three years also reached above .45. The average inventory turnover rate is .75, which is higher than the average level of the top 1 enterprises of .56, and achieves higher operational efficiency.
China real estate enterprises with social responsibility in 28-29: Under the circumstances that the business performance has been greatly improved, the strength of enterprises has been continuously enhanced, and the status of the real estate industry as a pillar industry of the national economy has become increasingly prominent, the civic awareness of the top 1 enterprises in modern enterprises has been significantly enhanced. China real estate enterprises with social responsibility in 29-21 include Evergrande Real Estate Group Co., Ltd., Vanke Enterprise Co., Ltd., China Overseas Development Co., Ltd., Kaisa Group Holdings Co., Ltd., Beijing Capital Development Holdings (Group) Co., Ltd., Hengsheng Real Estate Holdings Co., Ltd., Baolong Real Estate Holdings Co., Ltd., Yongtai Real Estate (Group) Co., Ltd., Wuhan Real Estate Development Investment Group Co., Ltd. and Baibuting Group Co., Ltd. In 29-21, the tax payment of China real estate enterprises with social responsibility accounted for more than 25% of the tax payment of the top 1 enterprises.
Top 1 Real Estate Stars in China in 29: In 21.