In the first half of the year, the market value of more than 80 % of the listed real estate enterprises fell more than a thousand times the difference between enterprises

The overall downside of the real estate industry has also made the property industry with a high degree of association failed to "be alone."

According to incomplete statistics from the "Daily Economic News" reporter, 48 of the 58 listed property companies in the first half of this year, the market value of enterprises (over 80 %) of enterprises fell to varying degrees. Among them, the biggest leader's leader service, compared with the market value of 1.127 billion yuan at the end of 2021, shrinks by 81.54%. Not only that, the property industry's mergers and acquisitions also became tired in the first half of the year, and the number of mergers and acquisitions decreased by half compared to last year.

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In the afternoon of July 14, Niu Xiaojuan, deputy general manager of the Property Division of the Central Finger Research Institute, said in an interview with the "Daily Economic News" reporter's WeChat interview that the Hong Kong stock property service sector has achieved a long -term rapid growth last year, and there is a large existence of itself. Return pressure. In addition, affected by the downward settlement of the real estate industry and the global epidemic, to a certain extent, it affected investor confidence and caused the property service sector to accelerate the bottom.

It is difficult to exceed 10 real estate companies this year

On July 8th, Shandong's first listing of real -life real estate enterprises in Hong Kong officially hosted listing in the Hong Kong Stock Exchange. After becoming Jinmao Service, Dongyuan Renzhi Service, and High Healthy Life, the fourth successfully landed on the capital market during the year Property companies.

In fact, after the upsurge of property listing from 2020 to 2021, most of the first housing enterprises and large and medium -sized real estate enterprises were split and listed. For example, in 2021, 14 new listed companies were added in the property service sector, all on the main board of the Hong Kong Stock Exchange. Although it decreased by 4 compared with 2020, it was still higher than 11 in 2019. The number of new listed property companies remains high.

In addition, the size of the new listed property company was relatively small in 2021, and the amount of funds raised also had a large retracement. Through the IPO, it raised HK $ 10.81 billion from the capital market, with an average value of HK $ 770 million, which was significantly decreased from the average value of Hong Kong dollars in 2020. It is also lower than the average value of HK $ 1.14 billion in funds raised from 2014 to 2021.

Specifically, only two of the 14 property companies raised funds of more than 2 billion Hong Kong dollars, including Yuexiu Service and Zhongjun Commercial Management; 1 billion to 2 billion Hong Kong dollars You Rongwanjia and Xingsheng Commercial, other companies The raised funds are less than HK $ 1 billion.

But by this year, there are only 8 property service companies that are still on the IPO road, only all the clouds, Ronghui Yue life, Su Xin's beautiful life, Lu Runhua wisdom, and Longhu Zhichuang life. "It is inferred by the current situation, and the number of listed property companies is expected to not exceed 10 this year." The analysis of the China Finger Property Research Institute pointed out.

It is worth noting that Longhu and Vanke, which had not been split on the listing of the property before, broke the original plan in the first half of this year. The prospectus, which indicates the addition of two "Big Mac" companies in the competition landscape of listed real -life companies.

According to the prospectus of the Universal Cloud, as of December 31, 2021, everything in the building area of ​​houses and business enterprises is about 785 million square meters. Among them Meter. The recently updated prospectus shows that as of the end of April this year, its property management service signing and strategic cooperation construction area exceeded 480 million square meters, and the construction area was 274 million square meters.

According to the statistics of Kerry Property Management, there are currently 6 property companies that exceed 300 million square meters in the pipe area, which are Country Garden services, everything, Poly Property, Evergrande property, green city service and investment promotion.

From the perspective of revenue performance, Country Garden services and all clouds in the tube area are 28.84 billion yuan and 23.704 billion yuan in 2021. It is also the only real estate company with a revenue of more than 20 billion yuan at present; During the same period of Longhu Zhichuang's life was 11.056 billion yuan.

From the perspective of net profit indicators, the net profit of 1021 Clouds in 2021 was about 1.714 billion yuan; the net profit of Longhu Zhichuang's life was 1.32 billion yuan, but its 15%net interest rate had a relatively obvious lead.

According to the statistics of Kerri material management, there are 6 net profit of more than 1 billion yuan in real profit for real estate enterprises in 2021. The first Country Garden service is 4.349 billion yuan. "With the listing of all things and Longhu Zhichuang's life, the current competition pattern of the property management industry will undoubtedly reshape."

However, it is worth noting that as a hot spot in the property industry in recent years, the acquisition and acquisition in the first half of the year have slowed significantly compared to the same period last year. In the first half of the year, there were nearly 20 mergers and acquisitions disclosed by the property industry, involving a transaction amount of 8 billion yuan, a decrease of nearly 50 % from the same period last year.

Niu Xiaojuan said that the reduction of M & A in real estate enterprises, on the one hand, is the recovery pressure brought about by high growth in the early stage. On the other hand, in the current economic environment, various property enterprises are more cautious about mergers and acquisitions, and they are more diverse in consideration of factors.

"In the future, the acquisition and acquisition will still be an important means and way to promote the development of the property industry. The expansion of the standard will continue." Niu Xiaojuan said that through the indicator of the past two years, the development logic of the high growth of the industry has not changed, and the industry concentration will be the concentration of the industry. Further improvement. At the same time, due to the development of socio -economic, the people's demand for a better life will also fully affect the business expansion direction of the property industry. In addition to satisfying basic property services, how to better provide diversified and high -quality property services is also an important issue that each property company needs and is considering. The diversified development depends on the scale. One of the means. The market value of more than eight -meter property enterprise declines

As an important indicator of the capital market's current operating status of the company to a certain extent, and an important indicator of future profit prospects in the future, the market value of the real -life enterprise has changed in the first half of this year. According to statistics, of the 58 listed real estate enterprises in the first half of this year, 48 property companies' market value showed a decline in varying degrees, accounting for more than 80 %. Among them, the largest leader service, compared with the market value of 1.127 billion yuan at the end of 2021, shrinks by 81.54%; in addition, the market value of Jiayuan services and Zhengrong services also exceeds 80%, which are 80.71%and 80.09%, respectively. Including Baolong Commercial, Zhongjun Commercial Management, Xingxing Group, Jiazhaoye beautiful and other real -life enterprises, the market value has fallen by more than 50%.

On May 18 this year, the stock price of Jiayuan's service suddenly plummeted by 70%, triggering temporary suspension, and Jiayuan International Holdings, a subsidiary of the same actual controller, plummeted by more than 40%. According to the disclosure of the rights and interests of the Hong Kong Stock Exchange, on May 11, Sun Hung Kai Finance obtained 73.56%of the shares of Jiayuan Services pledged on the grounds of "guarantee rights and interests."

One day later, similar plots were staged in Lingyue service. On May 19th, the two Hong Kong stocks listed companies' territories controlled and the leading price of the two Hong Kong stocks had burst into collapse in the afternoon. There was a recovery, but in the following two trading days, the stock price of Lingyue's service continued to fall sharply.

In the first half of the year, the market value of 10 property enterprises such as high health, green city service, special service, riverside service, Yuexiu service, and first services achieved positive growth, of which the market value of high health life reached 112.36%.

The reporter found that the data of 58 listed real estate companies found that as of the end of June this year, only 1 Country Garden service was 100 billion yuan, which was 100.254 billion yuan. Da Guan; 10 billion yuan in market value includes 10 including China Resources Vientiane Life, China Shipping Property, Xuhui Yongsheng Life, Greentown Service, and 19 with 1 billion yuan. 100 million yuan, 86 million yuan, less than one -thousandth of Country Garden services.

It should be noted that the three property companies listed in the first half of this year have the market value of Jinmao service, high health life, and Dongyuan Renzhi service. Compared with the beginning of listing, except for high healthy life In addition to the rise in market value, the market value of Jinmao services and Dongyuan Renzhi services has fallen, and the decline is more than 10%.

Regarding the overall market value of property listed companies in the first half of the year, Niu Xiaojuan believes that there are three main reasons: first, the early high growth brought internal adjustment pressure. The Hong Kong stock property service sector has achieved a long -term rapid growth last year, and there is a large pressure on its own. Secondly, due to the external environment of the global epidemic, the property service sector has entered the decline channel under the overall drive of the market. In addition, as the real estate industry is sold in the real estate industry Slowing growth, tightening financing channels, significantly increased operating pressure of housing enterprises, and also had an impact on the affiliated property industry. To a certain extent, it affected investor confidence and accelerated the bottom of the property service sector.

Daily Economic News

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