The first quarter of housing enterprise performance ugly lying can also make money of the era is over?

China Paint Network
: developers "lying down can also make money" era or gone. After a year of depression and adjustment in 2014, the transcripts handed over by major housing companies in the first quarter of 2015 were not very good. In the first quarter of this year, only six TOP20 housing companies achieved year-on-year growth, according to Krei Research Center. Top-ranked housing companies, including vanke, the industry leader, have seen sales decline, with profits falling by nearly half.
Vanke, Guiyuan net profit declined significantly
according to the Krei Research Center data, in the first quarter of 2015, only 6 of the top 20 companies achieved year-on-year results, the rest showed varying degrees of decline, the first quarter TOP20 enterprises average sales amount decreased by 15.37 percent compared to the same period in 2014.
report shows that in the first quarter of 2015, the threshold for TOP10 enterprises decreased by 800 million yuan to 11 billion yuan, down 7% YoY; In addition, top 100 enterprises in the list threshold of 1.1 billion yuan. In terms of area threshold, top10 enterprises entered the list threshold of 890,000 square meters, down 12% from 1.01 million square meters in the first quarter of 2014; TOP20 enterprises fell 24% year-on-year to 440,000 square meters; top 50 enterprises were 260,000 square meters, up 13% from the first quarter of last year. In addition, top 100 companies in the list threshold of 70,000 square meters. In addition, profits at several companies fell by more than 50% in the first quarter.
to specific cases, Vanke expects net profit attributable to shareholders of listed companies to be 600 million yuan to 700 million yuan from January to March 2015, down 54% to 61% from a year earlier. In the three months ended March 31, 2015, the Group achieved contract sales of approximately RMB17.73 billion, down 44.32% YoY, according to a previous announcement.
According to statistics from the Central Plains Real Estate Research Department, as of last week, the number of listed housing enterprises in the first quarter of 2015 reached 16, of which the year-on-year decline in performance reached 12 enterprises, the profit of the pre-reduced enterprises reached 8, in addition to the pre-loss of enterprises also reached 4, warning 2 enterprises. Relatively speaking, only four housing companies reported more optimistic quarterly reports.
fact, the decline in housing companies did not begin to show up this year. As of the beginning of April 2015, 75 housing companies in the A-share market had released their 2014 annual reports, with total revenue of 663.513 billion yuan, up from 5719.12 in 2013. RMB16.07 percent increased, and net profit attributable to shareholders of the parent company (hereinafter referred to as "net profit") was RMB74,913 million, up 5.0% from RMB71,338 million in 2013.
also said that with revenue growth of more than 16%, the overall net profit growth of housing companies is less than a third of revenue, the efficiency of making money has declined significantly.
promotional war consumes profits
why is the general decline in housing profits? Yan Yuejin, a researcher at Yi Residential Real Estate Research Institute, said that in the first quarter, some housing companies still adhered to the strategy of price reduction promotion, the decline in profits is also in line with expectations. As land prices account for a higher proportion of housing prices, developers' profit margins are being squeezed. At the same time, many housing enterprises are still relatively large marketing costs, will also wear out the profits of housing enterprises. In addition, Yan Yuejin said, in the long run, the proportion of land prices rising and go to inventory pressure will become a long-term trend, housing enterprises have bid farewell to the era of high profits, return to normal profits become a trend.
, chief analyst at Zhongyuan Real Estate, said the decline in first-quarter corporate profits was first due to a change in the pace of sales. In 2014, housing companies took on a number of 2013 reserved projects, most of which were completed very well in 2013. But overall business completions were poor in 2014, with many overdrafting their contracts in early 2015, leading to poor signings so far this year.
the future of first- and second-tier city housing prices are still bullish
in fact, the decline in housing profits, not a single element caused. Ding Zuxuan, chief executive of Easy House (China) Holdings Limited, said the main reason for the poor "one-quarter report" data was the downturn in property market transactions in the previous two months. "In fact, in early March, the property market transactions are still affected by the Spring Festival holiday, but from mid-to-late March began to work, March turnover year-on-year and month-on-month increases, up 13% and 63%, respectively, and the first-, second-, third- and fourth-tier cities are up more than 50% month-on-month. At the same time, since the 'March 30 New Deal' was introduced at the end of the first quarter, the policy effect has not yet been reflected in the current quarter's data. Under
of the New Deal in the property market, many cities have seen a marked rebound in second-hand property transactions, first-tier cities even appear "Little Yangchun". In this regard, some experts predict that the market is expected to gradually heat up in April, the pattern of urban differentiation will still exist. Overall, the future of first- and second-tier cities will still be the biggest increase in the market. In the volume and price of multiple driving, housing profits will also rise.