In the context of contemporary youth, if we were to describe a person as an all-round master, we would say that he was-
Just last week, China Overseas Real Estate released its annual results, and Brother Tao looked at their performance and data in various dimensions, and could only think of one adjective, which is hexagonal warrior.
You only need to look at the following six sets of data to know.
1. Sales dimension: the contracted sales amount was 309.8 billion, a year-on-year increase of 5.1%, and the equity sales volume was the top two in the industry;
2. Revenue dimension: revenue reached 202.5 billion, a year-on-year increase of 12.3%, at the forefront of the industry;
3. Profit dimension: net profit attributable to shareholders was 25.6 billion, a year-on-year increase of 10.1%, the top two in the industry;
4. Land storage dimension: the amount of equity land purchase was 122.66 billion, a year-on-year increase of 42%, the top two in the industry;
5. Liability dimension: the asset-liability ratio is 57.4%, and the net loan ratio is 38.7%, the lowest range in the industry;
6. Cash dimension: cash at the end of the period was 105.63 billion, and the cash short-term debt ratio was 2.1 times, the highest range in the industry;
You will find a very surprising result, that is, in the most difficult year of real estate, China Overseas Real Estate has maintained a good growth rate in its core performance indicators, and it is still the strongest in the industry in terms of security.
This is the real hexagonal warrior, no matter from which dimension, the indicators of China Shipping are at the forefront of the industry, there are no shortcomings.
Today, Brother Tao will come to talk to you about what is the secret of China Shipping's ability to maintain high-quality and all-round development against the trend?
1
Three mainstreams, advanced strategy to lay the cornerstone of performance
As early as around 2019, China Shipping established the development strategy of "three mainstreams", which has become the cornerstone of today's contrarian growth.
This seems to be the consensus of peers and unanimously choosing the strategic direction, but China Shipping has implemented it most thoroughly and resolutely.
In 2023, China Overseas Real Estate will achieve contracted sales of RMB309.8 billion, with a sales collection rate of 99%, and its sales performance in first-tier and strong second-tier cities will account for about 75%.
Last year, the sales of seven cities of China Shipping, including Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu and Xi'an, exceeded 10 billion yuan. Among them, the sales volume of China Shipping Beijing in Beijing reached 47.8 billion, ranking first in the Beijing market.
Brother Tao looked at the data of various places and found that these seven cities alone contributed a total of about 120 billion yuan in sales, and the mainstream cities have obviously become the ballast stone for China Shipping to maintain growth under the contrarian trend.
Brother Tao communicated with a senior executive of China Shipping a while ago, and in the face of the great changes in the market last year, he also sighed:
"The biggest advantage of China Shipping is that it is highly focused on first- and second-tier core cities, and there is not too much baggage. ”
From the perspective of land acquisition, China Overseas added 43 new projects last year, with an equity land purchase amount of 122.66 billion, second only to Poly.
It is worth mentioning that at a time when many real estate companies are shrinking the scale of land acquisition, the amount of land purchased by China Shipping increased by 42% year-on-year, which has the taste of buying the bottom against the trend.
In addition, China Shipping is still highly focused on mainstream cities in land acquisition, with the four first-tier cities in Beijing, Shanghai, Guangzhou and Shenzhen accounting for about 60% of the new value.
At the same time, China Shipping also dared to take the land of the core city, last year they won the comprehensive land of Xuhui District of Shanghai for 24 billion yuan, won the Shenzhen Bay Super Headquarters Base plot for 12.5 billion yuan, and won the Haizhu land plot in Guangzhou for 12.8 billion yuan...
These projects will bring strong support to the development of China Shipping in 2024, when the market will be more difficult.
In 2024, 12 new commercial projects will be put into operation, with a total revenue of RMB6.36 billion, a year-on-year increase of 21%.
For example, Shanghai Zhenru Unipark MAX, which opened in December last year, has a total volume of more than 320,000 square meters, and has continued to maintain the TOP1 of Dianping's Shanghai shopping center hot list since its opening. China Shipping Commercial has entered a period of accelerated development.
In Tao's view, when many real estate companies have expanded their urban layout and acquired land extensively in the market cycle, China Overseas has always adhered to the three mainstreams, focusing on the core first- and second-tier cities.
As a result, China Shipping has a stronger ability to resist fluctuations when the market changes dramatically, and even has more spare strength to take land against the trend, and its advanced strategy has laid the cornerstone of China Shipping's performance growth.
2
Able to fight tough battles, super trading brings profit protection
High-quality and accurate land acquisition reflects the strategic vision of China Shipping, and its strong trading ability is the key to China Shipping's products to win market recognition and maintain profit advantages.
On March 28, Zhonghai Shunchang Jiuli, located in Xintiandi, Shanghai, had a grand opening, achieving an astonishing performance of 19.65 billion yuan on the same day, creating the first sales record of real estate in the country and attracting the attention of the whole industry.
You must know that the single-day sales of a single disk are 19.65 billion, which is an unprecedented property market record, and it also surpassed the single-disk sales championship of the national property market last year.
Even if this performance is placed on the list of national real estate companies in 2023, then a single plate can be ranked among the top 70 real estate companies.
The super performance of Shunchang Jiuli directly drove China Overseas to surpass Vanke to win the second place in the sales list of real estate enterprises from January to March this year, and the amount of equity ranked first in the industry.
Behind such achievements, we should think more about: why China Shipping, which set the record in the property market?
In Brother Tao's view, the biggest difference between China Overseas and other leading real estate companies in recent years is reflected in the accuracy of investment and super trading ability——
On the one hand, China Shipping's investment strategy is obviously better than that of other real estate companies, and you will find that they do not have a lot of land, but each piece of land is very good, and they dare to take core land plots with high total prices.
On the other hand, after winning the core high-quality land plots, China Overseas also has leading product creation and marketing capabilities, which can be recognized by high-end customers and stand out in the increasingly fierce competition for luxury real estate.
Renderings of Zhonghai Shunchang Jiuli
This has enabled China Shipping to successfully avoid the fierce involution competition of first- and second-tier cities that are just in demand and just restructured products, and the profit margin is more secure.
According to the annual report, in 2023, the profit before tax of China Overseas Real Estate will be 41.12 billion, a year-on-year increase of 14.2%, and the net profit attributable to shareholders will be 25.61 billion, a year-on-year increase of 10.1%.
From the perspective of profit indicators, the profitability of China Shipping ranks first in the industry.
3
Long-term self-discipline, super stable and adhere to financial security
Brother Tao looked at the financial reports of major real estate companies, and it is rare for China Shipping to achieve three growth in sales, revenue and profits, and on this basis, China Shipping's financial security data is even better.
It is equivalent to a person who not only has a full score in all cultural courses, but also a physically strong sports student, a real super excellent student.
According to the data, at the end of 2023, the asset-liability ratio after excluding pre-receivables was 51.8%, the full-caliber net debt ratio was 38.7%, and the cash short-term debt ratio was 2.1 times, ranking firmly at the green level.
Among these three data, the highest gold content is the cash short-term debt ratio of China Shipping, which has exceeded twice that of China Shipping this year.
According to the financial report, at the end of 2023, China Shipping held cash of 105.63 billion yuan and operating cash inflow of 35.28 billion yuan, and its cash flow indicators are absolute benchmarks in the industry.
At the investor conference, based on the high-quality land reserves and strong cash flow management capabilities, the management of China Shipping said:
It's really the best confidence in the industry.
Based on the excellent financial indicators, domestic and foreign rating agencies have given China Shipping a very high evaluation, with the highest credit rating in the industry, and the weighted average financing cost of only 3.55%, which is one of the lowest in the industry.
In Brother Tao's view, in the past, many people felt that China Overseas Real Estate was excellent mainly because he was a central enterprise, which was obviously not correct.
Especially in 2023, when some state-owned enterprises also experienced a decline in performance or even losses, China Overseas Real Estate continued to maintain a healthy growth trend and was full of confidence in 2024.
At the performance meeting, China Overseas Real Estate was almost the only one among the leading real estate companies that expected to maintain growth in 2024.
"Based on the high-quality land bank, we remain confident that we will achieve stable sales and strong cash flow under the current foreseeable market conditions," the management said. ”
This reminds Brother Tao of that sentence:
Zhonghai, an all-round hexagonal warrior, will surely bring more surprises to the market in 2024.
What do you think about the content shared today?