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October 28 (Wan Keyi) According to Wind data, as of October 26, according to the industry classification of Shenwan, a total of 54 A-share listed real estate enterprises disclosed their performance reports for the third quarter of 2018, of which 49 were profitable, accounting for 90%.
90% of listed real estate enterprises make profits
Zhongxin Jingwei Client found that, from the perspective of changes in net profits, 49 of the 54 A-share listed real estate enterprises made profits in the first three quarters, accounting for 91%; 5 companies lost money, accounting for 9%. In addition, there are 34 real estate enterprises whose net profits attributable to shareholders of listed companies exceed 100 million yuan, and there are 10 real estate enterprises whose net profits exceed 1 billion yuan. Among them, Vanke, Greenland Holdings and China Merchants Shekou are among the top three listed real estate enterprises in terms of net profits.
Vanke's net profit from January to September ranked first temporarily, reaching 13.985 billion yuan, with an average daily profit of about 51.09 million yuan.
Galaxy Securities pointed out that at the end of the first half of 2018, the year-on-year growth rate of advances from large, medium-sized and small real estate enterprises was about 28.6%, 44.0% and 18.2%, respectively. The growth rate of large and medium-sized listed real estate enterprises was significantly ahead. Due to the lagging performance settlement, the subsequent performance growth was highly guaranteed.
Vanke "still alive" took nearly 50 billion yuan in the third quarter
Under the industrial environment of tighter financing environment, lower overall premium rate of land market, and rapid development of housing rental market, the financial report data of A-share real estate leader Vanke is particularly eye-catching.
Vanke shouted "live" at the company's autumn meeting. Yu Liang, Chairman of Vanke's Board of Directors, said frankly: "In the next three years, we should take 'survival' as the basic requirement". The industry interprets Vanke's move as a sign that the real estate industry has entered the severe winter.
As of the end of September this year, Vanke had 132.77 billion yuan in monetary capital, which was higher than the sum of short-term borrowings and interest bearing liabilities due within one year of 86.59 billion yuan. From the data of the third quarter report, Vanke is still "alive".
It is worth noting that Vanke has launched the "buy buy buy" mode, with land acquisition of nearly 50 billion yuan in the third quarter, which is equivalent to the sum of land acquisition amount of Evergrande+Country Garden+Poly+Rongchuang.
Kerui data shows that since the third quarter, the land market has cooled significantly, and enterprises have become more cautious in acquiring land, but the pattern of the strong will remain strong. From the proportion of sales and new value of real estate enterprises in each echelon in the top 100 from January to September, land resources still tend to scale real estate enterprises.
In addition, Vanke's third quarter report warned of possible price decline. At the end of the third quarter report in 2018, the balance of the Group's inventory falling price reserves was 4.14 billion yuan. In the first three quarters, the inventory falling price reserves withdrawn by Vanke, after taking into account the deferred income tax factors, affected the net profit after tax of -2.28 billion yuan and the net profit attributable to the shareholders of the parent company of 1.96 billion yuan. Some insiders told the media that Vanke has always been cautious, but it is undeniable that the overall market is still deteriorating significantly.
More than 19 benchmark real estate enterprises with a sales volume of 100 billion yuan hit a new high
According to the research report T100 Sales Performance of China's Real Estate Enterprises from January to September 2018 released by relevant institutions, the number of real estate enterprises whose sales exceeded 100 billion yuan increased to 19 in the first nine months of 2018. The sales of three enterprises in the first echelon, Country Garden, Evergrande and Vanke, exceeded 430 billion yuan, with an average of 476.82 billion yuan, and an average year-on-year growth rate of 20%. Among them, Country Garden continued to lead with sales of 552.93 billion yuan, while Evergrande and Vanke ranked second and third respectively with sales of 445.08 billion yuan and 432.44 billion yuan.
In addition to the above three real estate giants, there are 16 real estate enterprises with sales between 100 billion yuan and 400 billion yuan, including Rongchuang, Poly Development, Greenland, Zhonghai, Xincheng Holdings, Longhu, China Resources Land, Shimao Real Estate, China Merchants Shekou, Huaxia Happiness, Sunshine City, Xuhui, Jindi, Zhongnan Land, Greentown and Taihe, with an average sales of 158.27 billion yuan, The average year-on-year growth rate was 52.6%.
Shenwan Hongyuan analyzed that the sales growth of leading real estate enterprises in the third quarter remained stable, and the overall sales far exceeded the industry. Under the high turnover strategy, good results have been achieved by exchanging price for volume. The increase of industry concentration is a long-term logic, and it will be more obvious in the weak market of Evergrande.
Zhang Dawei, chief analyst of Centaline Real Estate, believes that from the current sales data, it is inevitable for benchmark real estate enterprises to break the historical record in 2018, but on the whole, the growth rate will be significantly slower than that in 2017. Zhang Dawei said that with the deepening of real estate regulation, the performance of real estate enterprises has gradually increased slowly. From the general increase over the previous year, the growth rate of leading real estate enterprises has gradually slowed down.
House prices may be loose in the fourth quarter
According to the data of the National Bureau of Statistics, the sales area of real estate in September fell 3.6% year on year to 168 million square meters. China Merchants Bank International believes that market sentiment has weakened since September due to the continuous tightening of the real estate policy.
In addition, near the end of the year, under the dual pressure of performance and capital, real estate enterprise discount promotion activities were launched nationwide. According to the tracking and monitoring of 58 Anjuke Real Estate Research Institute in more than 50 key cities nationwide, more than 10 brand real estate enterprises have launched discount promotions. It is expected that the general trend of price reduction of real estate enterprises in the fourth quarter will be reflected in more cities and more projects.
58 Zhang Bo, chief analyst of Anjuke Real Estate Research Institute, believes that the difficulty of real estate enterprises' loans has not decreased, and they have to make concessions to change the weak state of transactions. Affected by expectations, trading price for volume will become the norm.
Zhang Dawei, chief analyst of Centaline Real Estate, said that in the future, hot cities will begin to enter the era of "endless sales", including Beijing, Shanghai, Hangzhou, Nanjing, Wenzhou, Ningbo and other markets, where inventory has increased month on month. In addition to a few hot spots that are just in need, the rate of consumption will also decline rapidly. The opinion of this article only represents the author himself. If the source of the article is a network reprint, this website is an information publishing platform. If there is infringement, please contact this website to delete it in time.
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