Banknote-wielding developers are becoming the "new kings" of the real estate industry.
This giant central enterprise just released its 2023 results two days ago, in fact, whether it is the annual report or the performance meeting, the words about the "contrarian growth" of the real estate business have appeared more than once.
In the current environment, the real estate business has to "grow against the trend", and everyone should know how difficult it is.
Let's take a look at this set of data first:
contracted sales were 451.4 billion yuan, a year-on-year increase of 12.4%;
the contracted sales area was 18.58 million square meters, a year-on-year increase of 7.9%;
operating income was 308.8 billion yuan, a year-on-year increase of 9.5%;
gross profit was 56.2 billion yuan, a year-on-year increase of 5.1%.
▲China State Construction's contracted sales of real estate business in recent years
China Merchants Securities said in a research report in January 2023 that China's construction industry has strong endogenous growth momentum, and its real estate business may expand against the trend in 2023.
And that's exactly what happened.
01
The throttle is slammed on
All 5 real estate companies are in the top 100
In the past many years, in the era of rapid real estate development, China State Construction Department is more famous as an infrastructure enterprise with the prefix of Chinese characters, and under the reputation of "infrastructure madness", China State Construction is the best representative.
However, in the past few years, in the era of real estate slowdown and stability, China Construction developers have bucked the trend and stepped on the accelerator, including China Overseas Real Estate, China Construction Zhidi, China Construction Jiuhe, China Construction Yipin, and China Construction Dongfu have all entered the top 100.
Sister Yan wants to say that she is worthy of being the leader of the national team, and she is really beautiful in everything.
Let's take a look at the relationship between several real estate companies in the China Construction Department:
According to the statement of China State Construction, the group's real estate business segment is "divided into two", namely China Overseas Real Estate and China Construction Real Estate, the latter includes the self-owned real estate development business of the eight major engineering bureaus, mainly including China Construction First Bureau, China Construction Second Bureau, China Construction Third Bureau, China Construction Fifth Bureau, and China Construction Eighth Bureau, which are the main real estate platforms corresponding to China Construction Zhidi, China Construction Jiuhe, China Construction Yipin, China Construction Xinhe, China Construction Dongfu, etc.
▲ Real estate people say self-made pictures
So, what is the concept of the overall contracted sales of 451.4 billion yuan?
According to the annual report data of various developers, the contracted sales of real estate enterprises ranked first last year were 422.2 billion yuan, and the developers of China Construction Department had 29.2 billion yuan more.
And this extra value, put into the list of full-caliber sales list, the 48th is less than 29 billion yuan, and the 47th is just over 30 billion yuan.
Objectively speaking, excluding the 267 billion yuan of China Overseas Real Estate, the sales of the remaining eight major real estate companies of China Construction are about 184.4 billion yuan, which is also a proper 100 billion yuan real estate enterprise level.
At Friday's performance meeting, when asked about the division of the development of China Overseas Real Estate and Juyuan Real Estate, the management gave a very clear answer:
China Overseas Property will focus on the core areas of core cities with relatively strong certainty, as well as high-quality improvement projects;
The bureau will promote the research on the three major topics of "migrant workers into the affordable housing system", "urban village transformation" and "silver economy", actively promote the implementation of relevant high-quality projects, explore new areas of investment, and create new highlights for growth.
▲Source: China Construction Annual Report
That is to say, in the next few days, in addition to their existing real estate business, several bureau real estate companies will also have to follow the general trend to take over the work and assume the responsibility of new performance growth points.
It's a bit emotional, after all, for many developers, "survival" is already quite an easy thing.
02 The leading brother has been replaced
To achieve the current results, in addition to "peer foil", but also rely on the incomparably strong strength of the China Construction Department itself.
According to CRIC's 2023 China Real Estate Enterprise Sales Ranking:
China Construction Yipin 33.31 billion yuan, ranked 43rd;
China Construction Dongfu 33.14 billion yuan, 44th;
China Construction Zhidi 16.86 billion yuan, 77th;
China Construction Jiu totaled 16.56 billion yuan, ranking 79th.
Almost every statistic beckons to say that our real estate is doing well.
However, China State Construction did not announce the specific situation of several bureau-affiliated real estate companies in the annual report, but only made a brief introduction:
Actively responding to market changes, enriching the paths and methods of land acquisition, 59 new land purchases, 5.46 million square meters of new land reserves, and 78.5 billion yuan of land purchases, and contracted sales of 184.4 billion yuan, a year-on-year increase of 25.3%.
Let's make the following points:
There is a very old saying in the engineering circle, "there is no work that cannot be done in three bureaus, and there is no standard that cannot be won in eight bureaus", and the competition in infrastructure construction over the years has also been projected to their respective real estate platforms, that is, between China Construction Yipin and China Construction Dongfu.
An insider once told Sister Yan that the competition between the third and eighth bureaus in real estate is very fierce, but the group will also coordinate in land acquisition.
In 2023, China Construction Yipin surpassed its big brother China Construction Dongfu and became the new leading brother within the real estate company of China Construction Department Bureau.
To explain here, the full-caliber sales amount of China Construction Dongfu in 2022 will be 31.17 billion yuan, ranking first among the real estate platforms of the eight major engineering bureaus of China Construction Department.
03壹品、东孚京沪PK，谁将胜出？
In the past year, China Construction Yipin and China Construction Dongfu have each rolled up strongly.
Shanghai is the base camp of CSCEC Dongfu, and has built many well-known projects in Shanghai, such as CSCEC Haiyue Mansion, Xijiangyue, Yifu Lanting, Jinxiu Xiting, etc., with deep roots and relatively high quality. Xijiangyue was sold out at the first opening, and it was officially praised by China State Construction in its annual report.
However, judging from the latest performance data, the bite between China Construction Yipin and China Construction Dongfu is very tight, and the difference in full-caliber sales last year is only 170 million yuan, and the ranking is only 1 place. However, in terms of equity amount, China Construction Dongfu is 29.65 billion yuan, and China Construction Yipin is 24.38 billion yuan.
▲CRIC sales list of China's real estate enterprises from January to December 2023
The day before the release of the annual report, China Construction Yipin held a press conference in Shanghai Tower, the tallest building in China, and entered the base camp of China Construction Dongfu with the TOP series work Pujiang Star, which entered Shanghai for the first time.
On July 18 last year, China Construction Yipin won the I14-01 plot, I15-03 and I15-02 plots in Dinghai Community, Yangpu District, Shanghai for 3.86 billion yuan, with an average transaction floor price of about 53,000 yuan/square meter and a real estate linkage price of 109,900 yuan/square meter.
In just two or three years, Zhongjian Yipin has learned from Big Brother and surpassed Big Brother.
Sister Yan wrote before that the name change in 2021 is like superimposing a buff, which makes the sales performance of China Construction Yipin in Wuhan, the base camp, thriving.
CRIC Wuhan data shows that in the first half of 2023, the full-caliber sales of China Construction Yipin commercial housing will reach 7.662 billion yuan, second only to Wuhan Urban Construction Group. For the whole year of 2023, this amount is 11.743 billion yuan, ranking sixth.
In 2022, the gap between the sales amount of China Construction Yipin and Wuhan Urban Construction will be nearly 30 billion yuan.
In contrast, the performance of CSCEC Dongfu last year was not very ideal.
According to CRIC, China Construction Dongfu's full-caliber sales in Shanghai last year were 5.8 billion yuan, ranking 39th, and in 2022, they will also rank 25th with 11.996 billion yuan.
Sister Yan found that here Zhongjian Yipin killed the base camp of Zhongjian Dongfu, and over there Zhongjian Dongfu rushed into Beijing, the main battlefield after Zhongjian Yipin walked out of Wuhan.
China Construction Yipin became an instant hit in Beijing with the Xuefu Mansion project, and the "714 sets, 11.9 billion yuan" that was sold out at the opening directly locked the top three in the annual sales list of the Beijing property market that year.
In February last year, China Construction Dongfu defeated a number of powerful real estate companies such as China Resources and Longhu in the Beijing land auction, and won the Chaoyang Xiaohongmen plot with 1.426 billion yuan by luck.
Eight months later, China Construction Dongfu Lottery won the Guogongzhuang plot of Metro Line 9 in Fengtai District, with a transaction price of 7.59 billion yuan and a premium rate of 15%.
Sister Yan noticed that the Guogongzhuang plot still has a lot of construction requirements, which requires the financial strength, construction capacity, and marketing level of the development enterprise to be relatively high, which is also a challenge for China Construction Dongfu, which is still "unfamiliar" in Beijing.
Interestingly, China Construction Dongfu also took out the TOP series products on this land, and the case name was Zhongjian Yunjing, so as to challenge "Beijing Volume King, China Construction One Product".
Sister Yan wants to say that she is worthy of being the leading team in the eight major bureaus of China Construction, meeting on a narrow road, and then meeting at the top.
Facing each other in key cities is also a matter of great significance for mutual promotion.
In fact, regarding the matter of internal competition, someone once described Sister Yan as saying that the Zhongjian Department is a big family, and it is also appropriate to learn and help each other. After all, unanimity is the ultimate goal.
Last year, there was a stir in Beijing about the revision of the terms of land acquisition, that is, the requirements for the qualifications of bidders.
It has been changed from "the same enterprise and its holding companies shall not participate in the bidding of the same parcel" to "the same group members shall not apply for bidding for the same parcel at the same time", and if they want to jointly bid for a parcel of land, "the same group member enterprises may only form one consortium".
From another point of view, it is also because the strength of the China Construction Department to take land in a group is too strong, which leads other developers to form a group to complain.
04 began to become the hope of the whole village
The era of recruiting insurance has passed, and the rise of China Construction developers may represent a new era of scuffle.
In addition to China Construction Yipin and China Construction Dongfu, these days, China Construction Zhidi has also made a lot of moves in Beijing, Jingdong Company has just held a sprint mobilization meeting, and yesterday (April 21) held a high-level press conference in the Water Cube, the theme is-
China's first cultural real estate brand
This is very in line with the temperament of the word "winning the championship" shouted by Zhongjian Zhidi before.
At this point, Sister Yan remembered that the name of the bureau-affiliated real estate company that had not been changed separately and officially like the other brothers - China Construction Seventh Bureau Real Estate.
This company, headquartered in Zhengzhou and with almost no presence, has quietly won the first place in Kunshan, next door to Shanghai, for two consecutive years, that is, the first place in the sales amount of commercial housing rights in Kunshan from 2022 to 2023.
By the first quarter of this year, they had won the first place in Kunshan's equity sales amount and area, and they were still far ahead.
▲Source: Kerry
The term "far ahead" is a bit overblown, but it's still very apt here.
Coupled with the fact that since last year, China Construction Jiuhe has participated in Guangzhou's Tianliang old reform, and Sister Yan's feeling is that almost all the big things in the real estate circle in the past two years, especially the good things, have the shadow of the China Construction Department.
What's even more terrifying is that in the whole year of 2023, together with China Overseas Real Estate, China State Construction will purchase 102 new land purchases, with a total land purchase amount of 212.71 billion yuan.
What's more, these new land banks
More than ninety percent are located in first- and second-tier cities, of which more than 83% of the new land reserves are located in first-tier cities, municipalities and provincial capitals such as Beijing, Shanghai and Guangzhou
The land reserves are amazing, which basically means that there is no big problem with the overall development of the next year.
Today, the market value of Zhaobao Wanjin has fallen to 100 billion, and the China Construction Department has become the hope of the whole village.
Come on.
Editor-in-Chief: Zhang Yan
Editor-in-charge: An Ji
This article only represents the author's personal point of view, some of the pictures are from the Internet, not for commercial use, if infringement, please contact us
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