Hundreds of homes in the three quarters reported that 90% of the money earned industry's net profit margin was 9.4%

According to the analysis data of the Central Plains Real Estate Research Center, 100 listed real estate companies disclosed the results of the third quarter of 2018, and the proportion of profitable real estate enterprises reached 91%, with only 9 losses.

Statistics show that the operating income of 100 listed real estate enterprises totaled 107.2 billion yuan, up 31.2%; net profit totaled 101.2 billion yuan; net profit margin was 9.44%, a slight increase compared with 9.17% in the same period of 2017 The average net profit rose by 35.2%.

Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that overall, listed real estate companies are still in a high-profit, high-growth cycle.

Yan Yuejin, research director of the Yiju Research Center, said to the Securities Daily that the concentration of the real estate industry is getting higher and higher. At present, the sales scale of about 20 real estate enterprises has entered the “100 billion yuan club”. However, the next market sales growth will slow down, coupled with the increase in capital costs, the profitability of housing companies may fall.

Zhang Dawei said that in the past few years, medium-sized benchmark housing companies have actively grabbed land, especially from 50 billion yuan to 100 billion yuan in sales, and from 100 billion yuan to 200 billion yuan sales target, the performance has risen significantly. Overall, the bigger one is still the mainstream choice of the current housing enterprises. The trend of scale is intensifying. Even under the trend of regulation and overweight, some housing enterprises have not slowed down the pace of expansion, which has led to more and more market differentiation.

However, the market in the second half is not optimistic, and the land market in various places is frequently genre. In the current environment, destocking and accelerating cash backflow have become the biggest headache for real estate companies.

In view of the fact that the local price limit policy is not relaxed, the housing enterprises have not actively entered the market in order to increase the profit in order to win the game price, resulting in a rapid decline in the rate of decontamination in the second half of the year. Vanke has said that more than 600 projects in first- and second-tier cities are facing greater regulatory pressures. In July, Vanke's rate of removal was 51%, compared with 47% in August. Compared with the level of 55%-65% in the first half of the year, such sales are undoubtedly declining.

In fact, this is not a sales problem encountered by Vanke's housing company. In the last round of regulation and control, many housing companies have chosen to fully retreat to the investment strategies of first- and second-tier cities. Nowadays, it is easy to see the difficulty of realizing these projects when they enter the market.

Zhang Dawei said that since 2017, most of the hotspot cities have been fully limited in price. In this case, the real estate market has no points in the peak season, and the property market has no "golden nine silver ten".

The Kerry Research Center also said that there is no doubt that the signal of “turning cold” in the property market has become obvious. Whether it is short-term fluctuation or long-term trend, the original house price has soared, and the days of “selling the house with eyes closed” are gone forever. The attitude of the housing enterprises has also changed from the previous "high-spirited advancement" to "convergence focus" and stepped up the harvest. The purpose is to return more funds and ensure the cash flow safety before the market is "cool".

As for the judgment of the future market, according to the research results of the same policy research institute, in the third and fourth quarters of 2019, the volume of core first- and second-tier cities will enter the recovery phase, and the transaction price will enter the new one in the third quarter of 2020. A round of rising cycle. In addition, some listed housing companies are more pessimistic about the future property market trend, and even believe that the property market will not rise in 2020, before the property market will continue to adjust the down cycle.

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