Policies to promote the standardized development of the property service industry

Recently, the supervision policies of the property industry have been intensively released, and the cost of property companies has become increasingly transparent, and the high-profit model has been tested.

Judging from the performance forecast for the first half of 20021disclosed by real estate enterprises, the overall performance of the real estate sector is good. With the light asset strategy model, stable and continuous cash flow and business increment brought by innovative model, the real estate sector has achieved rapid development. Insiders pointed out that property management has become the transformation direction of some real estate enterprises. With the strengthening of supervision, the transformation of housing enterprises to property management faces more uncertainty.

Improve service level

On July 23, the Ministry of Housing and Urban-Rural Development and other eight departments jointly issued the Notice on Continuously Rectifying and Regulating the Order of the Real Estate Market. The key points of the rectification of the property service industry include embezzlement of public income, failure to use maintenance funds according to regulations, failure to provide services according to the contract, failure to collect fees according to the contract, and refusal to withdraw from property service projects.

Insiders pointed out that the policy promotes the standardized and market-oriented development of the property industry. Property management companies with irregular operation and poor service quality are squeezed, while property management companies with standardized operation and good service quality are expected to gain more market space and promote the service level of the whole industry.

On July 27th, Beijing Property Management Industry Association issued "Beijing Residential Area Property Service Fee Valuation Rules (Trial)", which defined the general property services provided by property service providers, including comprehensive services, operation and maintenance of facilities and equipment used by * * *, environmental maintenance, greening maintenance, public order maintenance and 165438+.

Zhongyuan pointed out that this will effectively promote the standardization and openness of the pricing and collection of property service fees, promote the marketization of property service prices, and encourage enterprises to provide services with consistent quality and price. The policy encourages enterprises to innovate constantly, improve efficiency and drive the transformation and upgrading of the industry. The formulation of relevant rules also has a positive impact on solving the transformation and service of old communities. Clear service content and cost pricing can continuously improve the service quality of old communities.

Business has developed steadily

Judging from the performance forecast in the first half of the year, the property service sector has provided great help to many housing enterprises. Some real estate enterprises said that they would return to the light asset strategy mode by developing real estate and other sectors.

World Bank predicts that the net profit attributable to shareholders of listed companies in the first half of 20021will reach 68-75 million yuan, turning losses from the same period last year. Regarding the reasons for the change in performance, the company said that the property management business has developed steadily and the income has continued to grow.

Some properties have achieved significant growth in the management area. 19 In July, Evergrande Real Estate announced that the profit to be distributed to shareholders in the first half of this year is expected to increase by about 70% year-on-year. The company said that the service area under management, community value-added services and non-owner value-added services have all increased substantially, and the company has actively adopted standardized operation and intelligent services, which has brought about an improvement in comprehensive profitability. According to the announcement, as of June 30th, the total contracted area of Evergrande Real Estate was about 86,543.80 billion square meters, and the total managed area was about 450 million square meters, increasing by about 250 million square meters and 65,438.80 billion square meters respectively compared with the end of last year.

Xindazheng property management business performed well. In the first half of 2002/kloc-0, the company realized an operating income of 896.38 million yuan, up 58% year-on-year; The net profit attributable to shareholders of listed companies was 74.3864 million yuan, a year-on-year increase of 38.37%. According to Xindazheng, the total bid amount of the company's new expansion project is about 800 million yuan. Thanks to the company's continuous standardization construction and quality control, it has effectively improved the leading role of engineering quality in the market and helped new projects expand and old projects update.

Valuation is generally high.

With the intensification of market volatility, the share prices of many property companies have fluctuated greatly recently. Insiders pointed out that the general valuation of property companies is high, and the accumulation in the early stage has increased greatly. At the same time, as an industry that benefits people's livelihood, the sustainability of its high profits remains to be seen.

According to the research report of CITIC Securities, the gross profit margin of basic business is expected to be difficult to improve, and the growth space of value-added business is broad. The valuation of property service cost mainly refers to the cost measurement of corresponding property fees. Because property management companies can reduce costs through technical empowerment and management efficiency. The policy encourages the combination of property management and life service development, and encourages the exploration of new service models such as pension and housekeeping.

According to the research report of Industrial Securities, the trend of policy supporting and guiding the standardization and marketization of the industry remains unchanged; The industry space continues to open, and the trend of accelerating integration remains unchanged. The development mode of incremental property management stock, no significant capital expenditure, net cash financial situation and stable dividend distribution determine the lower valuation limit of the industry, while the management service level and performance growth potential determine the upper valuation limit.