Jinwu Financial News | According to Haitong International Development Research, according to the sales performance ranking data for January to October 2024 released by Kerrey, the sales volume of the top 100 real estate companies reached 3069.27 billion yuan, -32.7% compared with the same period in 23, and the decline was 3.9 percentage points narrower than in September; the equity amount reached 2428.26 billion yuan, -32.2% compared to the same period in '23. The decline was 4.0 percentage points compared to September's revenue, and the equity ratio was 79%. Judging from the monthly situation in October 2024, the TOP100 housing enterprises achieved a sales volume of 435.41 billion yuan, +73.0% month-on-month and +7.0% year-on-year. In October 2024, TOP100 housing enterprises achieved equity sales of 343.27 billion yuan, +78.5% month-on-month and +9.9% year-on-year.
In October 2024, the monthly sales of over 50% of the top 100 real estate companies increased positively year-on-year. China's highest overseas growth in a single month was 39.5 billion yuan, followed by Poly's development at 38.1 billion yuan. China Merchants Shekou, Greentown China, and China Resources Land had sales of 20.8-27.9 billion yuan in the same month, while Yuexiu Real Estate, C&D International Group, and Vanke A had sales of 16.3-19.8 billion yuan. Judging from the monthly transaction amount growth rate in October 2024, 27 of the top 50 housing enterprises achieved positive year-on-year growth. Among them, Power Construction Real Estate had the highest year-on-year growth rate of 218.2%, followed by Poly Real Estate at 204.7%. In the decline list, Jianye Real Estate and others fell by more than -60%.
The bank maintains the industry's “better than the market” rating. I believe that industry policies have clearly been loosened recently, the pattern has improved, and space has been opened up, and the value of high-quality companies will become more prominent. Recommended focus: Development category: China Overseas Development (00688), China Evergrande (03333), Country Garden (02007); commercial and residential category: China Resources Land (01109), Longhu Group (00960); Property category: China Resources Vientiane Life (01209), CNOOC Property (02669), and Poly Property (06049).