2015 hundred listed room rate announced Vanke, Poly Wanda top three (with a comp

  The conference by the China Real Estate Association, the China Real Estate Research Association, China Real Estate Assessment Center jointly sponsored Beijing Association of Housing Institute Technology Services Limited contractors. This is the eighth consecutive organizers released the results of the evaluation of public housing prices, China Real Estate Association, the China Real Estate Research Association official website of the Housing Network based event exclusive official publishing site.

  On that day, China Real Estate Research Association vice president and secretary general Miao music, such as, Shanghai E-House Real Estate Institute president, Chinese director of the Committee of Experts on Real Estate Assessment Center Zhangyong Yue, director of the China Real Estate Assessment Center, E-House China Dingzu Yu and Chief Executive Officer of more than 200 Real estate industry executives of listed companies, capital sector more than 30 VIP guests and media gathered in Hong Kong, witnessed this industry event.

  The evaluation based on Chinese listed real estate companies screening criteria evaluation study, the subjects of this evaluation was 126 listed companies in Shanghai and Shenzhen, mainland companies listed in Hong Kong, 70, and 6 overseas listed companies, a total of 202 total. On this basis, China Real Estate Association, the China Real Estate Research Association, China Real Estate Assessment Center jointly organized the "2015 China Real Estate Assessment study listed companies", and released "2015 Chinese real estate company listed on the basis of evaluation studies depth follow-up study on the enterprise ", and" 2015 Chinese real estate listed companies list ", also released the top ten a shares, H shares of the top ten and risk control, the pace of development, operating performance, capital operation, innovation and industrial chain of listed companies list the top five children single.

  List shows Vanke reelection top eight years, Poly Real Estate and Wanda ranked the top three. Evergrande, China Overseas Land and China Resources Land were living in the The fourth to sixth place, Country Garden and R & F Properties and last year ranked the same, respectively, occupy the seventh, eighth, Shimao Property and Sino-Ocean Land disaggregated ninth to ten .

  The report notes that over the past year, the real estate market tends to reduce administrative intervention policies, macro-control policies more market-oriented. Compared to previous years, in 2014 the overall turnover of the real estate market continued to go cold, until The fourth quarter was gradually showed signs of stabilizing. In recent years, sustained and rapid development of the real estate market is gradually adequate supply, demand slowdown in the growth trend emerging, China's real estate market is a buyer's market from a seller, and this is accompanied by a narrowing differentiation within the industry and the industry's overall profit. Under standing development of the industry is another important node, real estate companies how to seize the opportunities of concern during the transition Taimukaiqi.

  Organizers said the Chinese real estate listed companies as an important part of China's real estate development business, which has a strong industry representation in terms of comprehensive strength, profitability and risk-resisting ability, investment potential and growth capacity, can fully reflect and refract the basic trend of the industry in marketing, management, marketing, business risk and other aspects of development-oriented, and because real estate information disclosure of listed companies more complete and accurate, scientific, impartial, objective and authoritative evaluation system , evaluation methods and depth case studies on the overall strength of listed real estate companies and in-depth study to assess, can effectively promote real estate development enterprises and healthy competition and healthy development of the industry for the future development of the property market has a strong guiding significance.

  ■Report: Reading evaluation report

  List: to accelerate the process industry reshuffle

  "2015 Chinese real estate company listed on the evaluation report" shows that in 2012, the degree of differentiation rising real estate market, to accelerate the industry reshuffle, 2014, the Shanghai and Shenzhen listed companies involved in real estate business less than 200, five years more than 100 A shares of companies involved in housing exit the real estate business. Meanwhile, blue-chip real estate continued to lead in this round of competition, the industry reshuffle to accelerate the process of differentiation.

  Stock Market: Shanghai and Hong Kong stock valuations lead
　　

　　Overall in 2014, the real estate sector performance is slightly better than the broader market. In terms of earnings per share level, the Shanghai and Shenzhen listed room rate and listed in Hong Kong housing prices mean earnings per share were the lowest level in nearly five years. Despite the general decline in profitability, but housing prices in Shanghai and Shenzhen with the market trend ushered in to a good correction plate valuation, the average price-earnings ratio and book value were 28.64 times the average and 3.37 times, two indicators are He boarded the highest level for nearly three years. Housing prices listed in Hong Kong, the average price-earnings ratio of 7.48 times book value mean breaking the net has been in a state of only 0.65 times, both of which hit a near three-year low. Shanghai and Shenzhen listed room rate and market housing prices out of the two different valuation level in Hong Kong.

  Scale: Property income slowdown

  2014, total assets of listed housing prices mean 44.788 billion yuan, up 23.42 percent; the average net assets of 12.776 billion yuan, up 24.45 percent; real estate business income of 9.575 billion yuan mean, up 3.98%; operating profit of 19.85 Mean billion, an increase of 9.77%. Compared to the sharp rebound in growth in 2013, in 2014, the scale of indicators, in addition to the average net assets, the remaining three indicators of growth are different degrees of decline. Among them, the average total assets, the average real estate business revenue and operating profit decline in the average year on year growth, respectively 0.91,42.64 and 2.76 percentage points. Overall, the size of listed real estate companies are still in the process of steady accumulation, but the growth has entered a downward spiral.

  Risk: The net debt ratio then pushed

  In 2014, the real estate industry is still high debt levels. High levels of debt reflects the downturn in the market, declining sales, the business is more dependent on the expansion of borrowing, high capital costs and high leveraged widely used debt on debt-driven model has led to debt risk then pushed. From the point of view of long-term debt ratio, in 2014 the real estate listed company's assets and liabilities rate is 65.75%, a slight decrease of 0.06 percentage points compared with 2013; and net debt rate is 88.86 percent, up 9.18 percentage points compared to 2013, in the past five years the highest point. In the short term debt ratio, current ratio of listed real estate companies mean of 193.00%, picked up 2.85 percentage points compared with 2013; operating cash flow continued to be negative and the general deterioration of the average cash flow debt ratio fell 3.50 percentage point to another -11.24% .

  Net: significant profit margins under pressure

  Because of rising costs and prices down on the industry caused a double squeeze profit margins, listed companies in 2014, the absolute value of the profitability indicators still continued upward trend last year, but growth is slowing, efficiency indicators still failed to stop the decline of inertia trend. Specifically, the absolute volume terms, the average net profit of listed room rate was 1.511 billion yuan, an increase of 9.76 percent, an increase over the previous year dropped 6.68 percentage points; the average balance of cash and cash equivalents of 5.363 billion yuan, an increase of 21.90%. Ratio indicators, return on equity and return on total assets mean two indicators continue to decline, since 2009 is the lowest point, down 11.09%, respectively, and 5.15% from the previous year to 8.50% and 4.00%, both less than half in 2009.

  Potential: supplementary prudential Land Resources

  2014 Under pressure to the inventory, the majority of public housing prices to get to the speed of a marked slowdown trend, leading housing prices diverged land policy adjustments. Vanke 2014 decreased land reserves, restructuring asset-light service providers supporting the city, while the CR and Poly choose contrarian take, actively replenish its land bank. Housing prices take to sell than the average of about 20 percent from the ratio of sales to take place and point of view, to get to sales ratio of the listed room rate in 2014 was significantly lower than in 2013, the benchmark. Among them, Evergrande realized 131.5 billion yuan in sales in 2014, for the new land reserve to get to sales ratio of 17%.

  Efficiency: Strengthening go of steady operation

  In 2014, the average stock listed real estate company at 230 billion yuan, an increase of about 15%. During the year, listed room rate of inventory turnover rate, liquidity and asset turnover total asset turnover declined compared with last year, in which the inventory turnover rate of 0.47 in 2013 down to 0.36. It is worth noting that for the past by high turnover, high leverage model to achieve rapid growth in the total assets of listed housing prices, the 2014 sales of the real estate market disruption, adjust inventory structure, profit-oriented regression an effective choice in the current situation housing prices. Data show that leading housing prices Vanke, Poly, Lake, CR, etc. to achieve a double-balanced Hengda profits and turnover, average earnings and turnover levels were far ahead of the industry average.

  Innovation: The Internet of becoming deeply

  2014 is the Chinese economy into a new norm of year, but also to accelerate the transformation of the real estate market, continuous innovation of the year, "real estate + finance + Internet" is becoming strategic points under the new situation of market housing prices in the business model, product innovation , marketing strategy, on the financing and management system, more and more companies made a new attempt. Light asset restructuring, "real estate + X" cross-border products, "the cause of partners and projects with investment," micro-channel marketing, etc. become listed room rate of innovation attempt keywords.

  Annex 2: list

Appendix 3: Evaluation organizers Background

  China Real Estate Association

  China Real Estate Association is approved by the Ministry of Civil Affairs, on the business by the Ministry of Housing and Urban-Rural Development Ministry in charge, from all over the real estate industry associations and engage in real estate development and management, market trading, distribution services, decoration and other enterprises, institutions and departments volunteered to participate national trade organizations. Association to accelerate the development of real estate, for the purpose of improving the people's living standards, adhere to the industry, enterprise reform and development services, guidelines for government policies and services to assist the Government to strengthen the industry, communicate, and implement national legislation and policies, reflecting the general membership and enterprise wishes and requirements, serve as a bridge between government and enterprises and tie.

  China Real Estate Research

  China Real Estate Research Association was approved by the Ministry of Civil Affairs, on business by the State in charge of Housing and Urban-Rural Development, engaged in real estate planning, development and construction, operation and management, parts supply, investment and financing, research and consulting business, and enthusiastic real estate research local real estate enterprises and social organizations, as well as those on real estate issues have a strong research capacity voluntary form of academic national non-profit social organizations, mainly engaged in real estate and housing problems.

　　China Real Estate Assessment Center

  China Real Estate Assessment Center by the China Real Estate Association, the China Real Estate Research Association, China Enterprise Evaluation Association, Peking University Real Estate Research Testing Center, Shanghai E-House Real Estate Institute, Sina Technology (China) Co., Ltd., jointly established six units. China Real Estate Assessment Center sponsor research and development efforts rely on the spirit of "scientific, fair, objective and authoritative" principle, in-depth and detailed real estate and corporate research chain. After years of unremitting efforts, the establishment of "China Real Estate Assessment System", using the system for real estate development companies, supplier companies, service providers companies, design agencies to conduct a comprehensive evaluation, regularly published annual list of all types of enterprises evaluation and research reports, authoritative media publish the results of the evaluation for the channel to the whole society, to promote healthy competition and healthy development of China's real estate industry.

  Evaluation of the results of the official release of the site: the Housing Network

  The Housing Network (www.fangchan.com) is the only official website of China Real Estate Association and the China Real Estate Research Association, the "government, industry, professional," the three resource integration, supplemented form of offline activities in real estate industry authoritative evaluation, real estate professional research and consulting business, to build China's real estate industry has the authority and credibility of the industry has a site evaluation system and data platform.