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2014 China Vanke Hengda Real Estate 500 Wanda released the top three
From:未知    Update:2014-05-06
March 19, 2014 , " 2014 China Real Estate 500 500 conference and evaluation results of the summit " held in Beijing . This is the China Real Estate Research Association , China Real Estate Association and China Real Estate Assessment Center conducted the sixth consecutive year of this evaluation. China Real Estate Research Association , president of the China Real Estate Association, Liu Zhifeng , China Real Estate Research Association vice president and secretary , secretary general of China Real Estate Association Mehrmann , vice president of China Real Estate Association Zhu, one of China Real Estate Research Hu Zhigang , vice president of the Council , the Executive Director of the China Real Estate Assessment Center Steering Committee of experts , Shanghai E-House Real Estate Institute张永岳president and other leaders and experts , as well as real estate companies , research institutions and the media of nearly 500 people who attended the summit. China Real Estate Research Association , China Real Estate Association, the official website of the Housing Network on the results of this evaluation was broadcast live release.
At the meeting, China Real Estate Research Association , China Real Estate Association and China Real Estate Assessment Center jointly released the " 2014 China Top 500 Enterprises Real Estate Assessment Study" and " 2014 Top 500 Chinese real estate development companies preferred supplier brand evaluation research report " and published the 2014 China Top 500 Enterprises in real estate development , housing prices 500 preferred suppliers list two main brands , as well as real estate development enterprise comprehensive strength of 10 other sub- list. In the evaluation of the dinner , " Butler 's Night" , the China Real Estate Research Association , China Real Estate Association and Ping An Bank also signed a strategic cooperation framework agreement to jointly provide inclusive financial services to the real estate business , reduce the cost of the entire industry to promote the Chinese real estate integrity and healthy development of the industry .
Evaluation report that the overall performance of the real estate development enterprises then the upper floor , but the industry 's "Matthew Effect" sustained, market concentration increased again. With the real estate industry to mature and standardize the resources to further concentrated on large enterprises , on the other side , a small boom in real estate development enterprises Hengqiang straight decline , some small room rate will gradually be marginalized, even shrinking market size Finally forced to withdraw from the real estate market . Core city of the state of the mainstream product demand stimulus funds to develop the strength of large scale enterprises directly involved in pushing up the core of the city's land , causing the industry to raise the threshold to enter , a small housing prices are less likely to rely on their own strength to get to the expansion , and part of the four-tier cities focus on corporate influence the development of the city by oversupply , the difficulties of the project to the funding problem is serious, further narrowing the survival and future development in doubt.
Rank : Vanke won the top spot among the top three Hengda Wanda
According to this evaluation released " 2014 China Top 500 Real Estate Development Enterprises Evaluation Study" ( hereinafter referred to as the " Assessment Report " ) , 2013 , is the housing market activities , the land market recovery was also the year of China's real estate market regulation policy ideas began to change in a year . Under the national " steady progress " Macroeconomic policy and stable monetary and credit policy relevant background , in 2013 China's real estate market continues to pick up momentum since 2012 , continue to demand the release of their own homes , improving demand continues to increase , the market keep the good development.
After an objective, impartial , professional and scientific evaluation research , forming a 2013 Chinese real estate development companies 500 list . Vanke Group 's comprehensive strength superior topped the list for six consecutive years , Evergrande Real Estate Group is among the top three , and Wanda , Greenland Group , Poly Real Estate , China Overseas , Shimao Property , Country Garden , Greentown , and Lake real estate breakdown of four to ten .
Scale: The growth performance of different concentration rise
Evaluation report notes that in 2013 , 500 in real estate development enterprises generally longer welcome growth , corporate sales have hit a new high . 2013 national real estate sales area of ​​1.306 billion square meters , an increase of 17.3% , an increase of sales area quickly picked up , reaching its highest level since 2010 ; national real estate sales of 8.14 trillion yuan , an increase of 26.3%. Meanwhile, total sales area of commercial real estate development enterprises reached 500 305 million square meters , an increase of 34.1% , the amount of sales hitting a new high of 3.26 trillion yuan , an increase of 29.0% , significantly ahead of the growth rate of both the national level.
Statistics show that in 2013 500 of 100 enterprises was 28.28 billion yuan average amount of sales , an increase of 49.50% over the last year significantly . 100 companies from the distribution segment sales amount , the 2013 billion business by the three previous year 's expansion to seven , an increase of more than 50 billion to 11 companies . From the top 10 , top 20 , top 50 and top 100 in the comparison of the median , the median 2013 1-10 ,11- 20 strong strong ,21- 50 and 51-100 strong sales amount of housing prices were 107.1 billion yuan , 42.2 billion yuan , 15 billion yuan and 9.5 billion yuan , respectively, compared to 51.00% last year to improve , 29.45% , 44.23% , 18.75% , 100 sales continued to grow rapidly.
With the fluctuations in the real estate market and the differentiation of the regional markets in recent years, continuing the trend of industrial concentration in 2013 to enhance continuity . Regardless of the amount of concentration are real estate and area calculations , or 500 real estate development company market share continued to remain high.
Risk : debt service funds good pressure rise
As a capital-intensive industry , real estate development enterprise risk management has always been the key to enterprise development. Due to good sales since 2013 , many companies choose to increase leverage to accelerate the development of the growth rate , and therefore a general increase in the top 500 real estate development companies debt pressure , mean more net debt ratio reached its highest point in nearly five years . Short-term debt indicators, 2013 , 500 real estate development companies current ratio was 208.57% mean decrease of 10.99 percentage points higher than in 2012 ; cash to current liabilities ratio mean of -5.67 %, while the index for the 2012 annual average of 14.90% . Long-term solvency indicators, 2013 500 real estate development companies net debt ratio and asset -liability ratio was 79.03% and the average 66.04 percent , an increase of 17.06% and 0.69% , respectively, compared to 2012 .
Since June 2013 , the domestic liquidity tightening trend is gradually emerging , but its impact on the real estate development enterprises is relatively low , a lot of real estate development companies in the top 500 sales under the money back guarantee is getting better background to enhance the leverage ratio , resulting in overall performance was weaker than the average debt service indicators in 2012 . But in the overall context of tight liquidity , leverage this upgrade also means the accumulation of risk, therefore, the future direction of the real estate development industry differentiation between enterprises will depend more on differences in management and control of funds and the cost of capital .
Moreover, with the steady tightening of monetary policy and in 2013 an impressive money shortage , the importance of financing real estate development enterprises more prominent. As can be seen from the sources of funding in recent years, developers , self-financing and other funds accounted for a steady increase in effective hedge under monetary tightening to reduce development loans and other sources of funds , real estate trusts, private equity funds, real estate development in recent years , especially active. In addition , the mainland by building a benchmark housing prices A + H dual financing platform for the smooth realization of overseas debt financing , and by virtue of the corporate brand influence to obtain a higher credit rating, low-cost financing , capital strength has been greatly enhanced , effectively increasing the enterprise competitive advantage.
Profitability : profitability rebounded cost control need to be strengthened
2013 net profit of 500 real estate development enterprises mean of 4.64 billion yuan, up 7.26 percent , ending the downward trend since 2011 ; Cash and cash equivalents at the same stop drop rebounded to 3.053 billion yuan , up 20.30 percent . Net income and cash and cash equivalents balances both picked up on the one hand and corporate sales performance since 2012 generally good about ; on the other hand , in 2013 the top 500 real estate development enterprises to strengthen cost control , despite the three charges were increased to varying degrees , but three charges ratio was 14.13% , the momentum of rapid growth has been effectively controlled . Although cost pressures still exist , but companies generally strengthen cost control efforts previews.
Since the normalization of self -control , industry profit margins have declined, although in 2013 conform to the needs of Fortune 500 companies achieved good results and ushered in a rebound in profitability , but since 2013 a neutral monetary policy tight liquidity risks remain overseas the overall space is very limited profit growth did not occur directional changes in industry trends , corporate earnings recovery efficiency of more limited flexibility , so that only the strong cost control ability and strong competitive advantage companies can share the cake in the real estate industry, which will further accelerating changes in the industry .
Evaluation report also noted that while the rise in net profit , 2013 500 real estate development efficiency of corporate earnings have rebounded slightly, but still below 2011 levels . 500 real estate development efficiency and profitability of both corporate profits rise and the real estate development industry as a whole environment. However, due to continued government focus on price rise , and the sharp rise in house prices is increasingly difficult to get support of the demand side , relying solely on the opportunities of profit housing prices will not be sustained. Rely solely on profit housing prices gradually forcing the end of the company's future must rely on intensive management , through the construction of standardized product portfolio , enhance marketing and other ways to reduce the accuracy of the construction costs and selling and administrative expenses to improve profit margins.
Growth: Benchmarking Enterprise fade leading path difference
2013 500 real estate development enterprise performance growth targets increased significantly compared with 2012 , the average sales area growth rate of 20.03 percent , an increase of 12.91 percentage points higher than in 2012 ; sales growth in the average amount of 21.96% , an increase of 19.73 percentage points increase ; operating profit mean growth rate of 20.10% , the growth rate of the average net assets of 11.80 %.
From the benchmarking enterprise performance, Garden 2013 referendum impressive marketing allows businesses remain strong sales , real estate sales amount and area growth rate reached 122.69 percent and 108.51 percent .
Evaluation report that in recent years , the real estate development enterprises continued to grow gradually increased uncertainty , real estate development companies to grow their resource endowments paths at different levels scale enterprises, financing , market insight , cost control , strategy execution , etc. Based differences are significant . With the core competitiveness of China's real estate industry leaders increasingly clear, take SMEs to follow the strategy by selecting a different benchmark also enter a different growth path .
Operations : high turnover of small and medium cities to greet the fruits of pressure
2013 , 500 real estate development companies operating efficiency indicators full recovery , inventory turnover rate is 0.39 , compared with 2.26% in 2012 to improve the basic return to the level before the current round of regulation ; mobile asset turnover average of 0.2 , up 0.04% ; The total asset turnover of 0.19 , up 8.82 percent . Sales continue to refresh, steady improvement in operational efficiency , business model of real estate development companies with a high turnover of the main line has been rewarded , even though corporate profits have balanced the scale and explore the path of development, in order to alleviate the high turnover caused by declining profit margins However, escalating competition in the real estate industry , continue to sustain and maintain a high turnover further expansion of business scale may be more common choice of enterprises .
However , since 2012 , the real estate development enterprises historically high inventory levels continue to refresh , 2013 500 real estate development business inventories grew 19.63 percent , basically unchanged from 2012 , the total value of inventories continued to climb . Therefore, most development companies maintain inventory levels of around 2 years , to the normal range of pressures still did not have increased dramatically. On the other hand , the market demand for the first time since 2012 and focuses on home improvement types, more than 144 square meters large size products continued unmarketable. The four-tier cities due to the oversupply situation occurs , since 2013 stocks rose and went to both of the time , to melt pressure. Because some companies maintain and market demand does not match the product or urban layout , leading to melt slowly, such enterprises urgently ease inventory pressure .
Responsibility : Tax accelerate growth and actively fulfill their social responsibilities
Evaluation report shows that in 2013 the top 500 real estate development enterprises income tax mean about 289 million yuan , an increase of 31.01% , an increase compared to the sharp rebound in 2012 . Project from business tax and surcharges , the average is about 500 489 million yuan , an increase of margin increased from 2.24% in 2012 to 29.18% significantly . Increase the amount of tax recovery in the real estate development enterprises with the 2013 results of operations corresponding to an effective recovery , good performance of enterprises to assume more social responsibility.
In addition to paying taxes , but at the same time, the rapid development of the real estate industry , real estate development companies 500 actively fulfill their social responsibilities , in terms of job creation, support for entrepreneurship, charitable , environmental protection and other outstanding achievements , have to hand over transcripts of corporate social responsibility .
From 2011 to the end of 2013 , China's urban income housing project, a total 24.9 million units started , where shantytowns 10,840,000 ; basically completed 15.77 million units , of which 6.68 million shantytowns . Construction of various types of affordable housing and shantytowns housing goals , " 1025" period of 36 million units ( households ) , according to data released by the Ministry of Housing and Urban-Rural Development , the "five" objectives and tasks have been completed the previous three years almost 70 . Among them, many of the top 500 real estate development companies not only take into account the business development and social responsibility , and actively participate in the construction of affordable housing projects , more enterprises have accumulated experience from the construction of affordable housing projects , worked out a unique corporate competitiveness.
2014 Chinese real estate development enterprises 20 list
2014 Ranking
Company Name
Vanke Co., Ltd.
Evergrande Real Estate Group
Dalian Wanda Commercial Properties Co., Ltd.
Greenland Holding Group Co., Ltd.
Poly Real Estate ( Group ) Co., Ltd.
China Overseas Land & Investment Ltd.
Shimao Property Holdings Ltd.
Country Garden Holdings Company Limited
Greentown Real Estate Group Co., Ltd.
Lake Real Estate Co., Ltd.
Guangzhou R & F Properties Co., Ltd.
Sunac China Holdings Ltd.
Golden ( Group ) Co., Ltd.
China Resources Land Limited
China Merchants Property Development Holding Co., Ltd.
Sino-Ocean Land Holdings Ltd.
Kaisa Group Holdings Ltd.
China Happiness Foundation Corporation
Forte ( Group ) Co., Ltd.
Jinke Property Group Limited
Evaluation Index System Description
Based on past experience accumulated 500 evaluation process , the Evaluation Center comprehensive consideration of the operating characteristics of the current and future trends in real estate development enterprises in 2014 from 500 enterprise-scale assessment , risk management , profitability, growth potential , operational performance , innovation capacity , the seven aspects of social responsibility , using the income scale , the development of the scale , the scale of profits , assets , short-term debt , long-term solvency , the relative profitability, absolute profitability, sales growth capacity , profit growth , capital ability to grow , resource reserves, production operational capacity , human resources operational capability, business innovation, product innovation, tax liability , social security 19 secondary indicators responsibility , charitable donations , including real estate business income , rental income , real estate sales area , 40 three indicators of investment property held area , total assets , total profit , cash flow debt ratio to measure the overall strength of the overall enterprise .
Measurement Model Introduction
On the selected assessment methods, we took the AHP and three levels of indicators of Delphi method empowerment. About empowerment indicators, we invited China Real Estate Association , China Real Estate Research Association and China Real Estate Assessment Center experts repeatedly confirmed after several rounds , and ultimately determine the weight of each index layer and three secondary indicators index layer weights.
On the selected method of evaluation , we selected the industry-recognized factor analysis , three AHP, authoritative evaluation of efficacy coefficient method of statistical methods for enterprise data estimates were then evaluated using a combination of methods to synthesize the three methods , Finally arrive at a final ranking score .
About the organizers
China Real Estate Research : is approved by the Ministry of Civil Affairs , the real estate planning , development and construction, operation and management , parts supply, investment and financing, research and consulting services , real estate research and enthusiastic local real estate enterprises and social organizations , as well as who has a strong research on real estate issues forged academic ability of national voluntary non-profit community organizations , the business sector is the people's Republic of China in charge of Housing and Urban-Rural Development .
China Real Estate Association : is a national non- industry approved by the Ministry of Civil Affairs , from engaging in real estate development and management, market trading , distribution services , decoration and other business enterprises, local real estate associations and related entities and individuals voluntarily form of for-profit community organizations , the business sector is the People's Republic of China in charge of Housing and Urban-Rural Development .
China Real Estate Assessment Center : professional evaluation of the real estate industry organizations , leading experts to support units of China Real Estate Research Association, China Real Estate Association, the China Enterprise Evaluation Association , Real Estate Research Center of Peking University identification , Sina.com Technology ( China ) Limited. China Real Estate Assessment Center relying authorities and expert support units of industry influence , and a large , extensive contact with the industry, there is a professional R & D strength , the spirit of "scientific , impartial , objective and authoritative " principle, in-depth and informative real estate development evaluation of Enterprise and the whole industry chain enterprises.
The Housing Network : the Housing Network of the China Real Estate Research Association , China Real Estate Association official website , the site will " government, industry , professional ," the three resource integration , supplemented in the form of line activities , such as the authority to carry out the evaluation of real estate industry , real estate professional research and consulting business , to build China's real estate industry has the authority and credibility of the industry Web site , evaluation system and data platform .