Taurus Real Estate Ten glorious bloom

Performance is expected to lead the way out of the trough spring and autumn, Ebb tide.　　Over the past more than 10 years, the domestic real estate market has experienced "blazing summer", but also the taste of "winter", the industry has climbed the "peak", but also entered the "trough";　　Ebb Tide, Performance Shen Fu These real estate enterprises may miss the development of the point of view, perhaps experienced a temporary dilemma, but in their growth, sound investment strategy, perfect governance system and keen market vision consistent. Static water depth flow, evergreen.　　In China Securities newspaper "listed companies Taurus hundred" 11 years of the selection, we see that there is such a group of real estate enterprises, has been continuously counted in the search for a Taurus hundred "honor." Follow the "Listed companies Taurus Hundred" Selection Index system, we have a a-share real estate listed companies to consider. Vanke (000002), Poly Real Estate (600048), Golden Land Group (600383), Jinrongjie (000402), Oct A (000069), New Lake Zhong Bao (600208), Merchants Real Estate (000024), Hua FA shares (600325), First Open shares (600376), Suning Global (000718) 10 Real estate developers, due to the revenue, market capitalisation, growth and shareholder returns four comprehensive performance outstanding, ranked 2008 Taurus real estate listed companies in the top 10.　　Among them, Vanke, poly Real estate and other top six companies are also proud of the 2008 "Listed companies Taurus hundred" list. The size of a-share real estate statistics show that at the end of 2008, the Shanghai and Shenzhen cities Total market value of 12.13 trillion yuan. Among them, a-share real estate listed companies (according to Shenwan classification and elimination of St company) the total market value of 419.613 billion yuan, accounting for 3.46%.　　The total market value of the ten-strong property is 208.928 billion yuan, accounting for 49.79% of the total market value of the industry. As of March 31, 2009, the total market value of the ten-strong property was 315.102 billion yuan, accounting for 46.71% of the industry.　　As a relatively low market concentration of the industry, Taurus Real Estate Ten strong market value has been close to the total market value of all listed companies, market participants believe that this reflects the mainstream funding for this group of highly recognized.　　2008 A shares of real estate listed companies to achieve a total operating income of 183.593 billion yuan, of which the real estate ten companies to achieve operating income of 94.042 billion yuan, accounted for 51.22%, the proportion of the increase of 5.82%. A-share real estate listed companies to achieve a net profit of 22.453 billion yuan, of which the real estate ten to achieve a net profit of 12.88 billion yuan, accounting for the ratio reached 57.36%, the proportion increased by 6.21%.　　The share of real estate has gradually expanded throughout the industry. To Vanke, for example, the company was selected again this year Taurus hundred strong list, and ranked third. This is Vanke for the tenth time in a row listed company Taurus hundred Strong. As a company in size, income, growth and return on a number of indicators can get "high score" of the publicDivision, Vanke in the list of "gold" is full. 2008, Vanke net profit although negative growth, but its market share has steadily increased.　　2008, the company's share of the national housing market increased to 2.34%, and plans to increase the market share to 4% within five years. Industry insiders said that the large-scale real estate company's operating mentality is generally based on security and stability, implementation of the "Cash for the King" strategy. On the one hand, actively promote the sale of various ways, on the other hand, according to market conditions constantly adjust the pace of development, control inventory size, so that the whole year of development and sales area to match. In the inventory management, Vanke has always adhered to the principle of quantity. First-quarter inventories fell to 8%.　　In the new project, the company only took a piece of land in Guangzhou, building area of less than 140,000 square meters, compared to the same period last year, the new land reserves reduced by 80%. Experts point out that the financial position of large property developers is usually kept in a safe area. The increase in the rate of cash withdrawal in the first quarter makes such companies have significant financial advantages.　　Construction progress is expected to accelerate in the two quarter, the second half of the sales performance will be increased.　　Performance growth far beyond the industry average statistics show that 2008 a-share real estate listed company's operating income growth of 11.34%, while the real estate ten companies operating income increase reached 24.29%, over the industry average of nearly 13%. The entire industry to achieve net profit of 22.453 billion yuan, down 4.84%, real estate ten to achieve net profit of 12.88 billion yuan, an increase of 2.31%.　　The increase is above the industry average. In the 2009-year quarter, the real estate industry revenue fell 11.38% Year-on-year, net profit fell 20.78%, while the real estate ten strong business income rose 24.81%, net profit rose 22.49%.　　Real Estate Ten strong performance, continuous run to win the overall level of the industry.　　In many listed companies, Poly Real Estate with its high growth characteristics of the success of the top ten, after Vanke ranked second. Data show that poly Real estate three years shareholder returns far ahead of other real estate companies. The net profit growth attributable to the owner of the parent company in 07 and 08 reached 121.77% and 50.35%, respectively.　　Suning World and the new lake in the 2008-year net profit growth rate also reached 144.17% and 102.74% respectively. In the housing slump of 2008, the real estate ten to continue the pace of progress has not slowed the slightest.　　Although last year the National real estate turnover to freezing point, the national commercial residential sales area fell 20.3% year-on-year, commercial housing sales fell 20.1%, but the company's sales have run to win the big city. Poly Real Estate For example, according to statistics, the company 2008 annual sales growth of 29.48%, to achieve sales of 20.511 billion yuan, an increase of 20.36%. The company's 08 operating income of 15.5 billion yuan, a large increase of 91.24%. Gross margin also from 07 of 38.5% to 40.8%.　　Quality Rise, the company's performance has been fully upgraded. 2009, the company continued to enter the "fast track."　　January-April, the company cumulative sales area of 1.247 million square meters, sales amount of 10.52 billion yuan, the year-on-year growth of 182% and 213%, the average selling price of 8430 yuan/square meters, up 11%. Industry insiders believe that the settlement of rich, low-cost land reserves, is a good real estate companies can continue to maintain high growth of solid foundation like Poly Real Estate, 2008 new land reserves of 5.94 million square meters, the average land price of 1121 yuan per square metre, effectively reducing land costs. At the same time, 2008 remaining outstanding income of 13.9 billion yuan also for 2009 years of sustained high growth has laid a foundation for the profit margin is expected to lead the rebound by the economic downturn and the impact of the industry slump, 2008, the real estate industry profit margins, equity returns, and other indicators overall downward. Statistics show that a-share real estate listed companies 2008 overall operating profit rate of 17.9%, down 3.14% year-on-year. Among them, Taurus real estate ten companies operating profit rate above the industry average, up to 20.3%;　　However, from the first quarter of data analysis, Taurus real estate Top Ten companies profit margins are expected to go out of the trough of the industry. Data show that the first quarter, a-share real estate Company's overall operating profit rate of 17.6%, down 2.3% year-on-year. But Taurus Real Estate ten companies overall operating profit rate of 18.9%, year-on-year growth of 1.4%. Top ten companies have 8 operating profit rates rebounded year-on-year.　　Among the top ten companies, 4 have risen in total diluted equity returns. Industrial Securities, the latest research report that the second half of 2009, the real estate industry will enter a ladder-type recovery. 　　Vanke, Poly, investment and other front-line property developers will take the lead out of the trough. Galaxy Securities researcher Ding Wen also pointed out that mainstream developers to the new high prices in 2007 have adopted a variety of ways to negotiate with local governments, including the slow payment of land prices, change land planning and even retreat to reduce the high price of pressure on business. In addition, Vanke, Poly and other ten companies in 2008 to obtain the high price of the inventory to reduce the value of the preparation, if the price stabilisation, there is the possibility of a reduction in preparation for the return. And these enterprises ' gross margin and net assets yield will also see the bottom rise in advance.