Ren Jian Yuan Jing real estate company

On February 25th, 65438, the 3rd China Real Estate Capital Summit-2020 Property Management Capital Forum was grandly opened in Beijing.

Zizhong Zhao, Vice President of Economic Daily, Huang Yu, Executive Vice President of China Finger Research Institute, Li Changjiang, Executive Director and President of Country Garden Service, Pan Jun, Chairman of Color Life, Li Dalong, President and CEO of Ya Life Group, Wu Zhihua, CEO of Greentown Service Group, Zhu Jin, Executive Director and CEO of Service, Lei Yiqun, Chief Analyst of Real Estate and Construction Industry of CITIC Jiantou Securities, Wu Guoqing, Executive Vice President of Aoyuan Healthy Living Group and General Manager of Hongkun Property, Zhao Zhenxing, General Manager of Beijing Wanwu Lianghang, Hao Ju, President of Credit Suisse Consulting, Dean of Credit Suisse Research Institute, Ye Mingjie, Executive Director and President of Shimao Service Holdings, Xie Chao, Vice President of Teslink, Bo Huang, CFO of Xinyuan Service, You Jianfeng, Chief Strategy Officer and Secretary-General of Xincheng Yue Service Group, and other business representatives attended the forum, focusing on the future of property management enterprises empowered by capital and technology, and offering suggestions for the development of China property management industry. "

At this level of meetings, the people who are invited and attended are generally the helm of the enterprise, and their speeches basically represent the ideas of corporate governance and the thinking of the company's future development.

Taking this rare opportunity, this issue also tries to comment on the future development of related companies and the views of the helm according to Dayu's speech (draft) at the forum. For details of the speech, please refer to 2-6 articles pushed today.

These are the people who attended the meeting. Don't worry, I can't find the author of this article. )

No. 1: Country Garden Service

President Li Changjiang: Country Garden Service should be a leading international new property service group.

"How to achieve100 billion revenue? The first is property services, including business. The second is urban service. The third is value-added services, which are the three main channels. Of course, maybe in the future, we will gain something in technology, technology products, technology patents and even operating platforms. "

Comments: There is nothing particularly novel. What makes me feel good is that the goal after the merger is to make a big cake together, not to play a zero-sum game for the control of the merger. The internationalization in the title was not specifically elaborated in the speech, but it was introduced in Guan Wei's tweet on February 24th, 65438.

How to achieve100 billion revenue? This figure has been elaborated in detail in two special articles before, which can poke "these property leaders, the sword refers to the dream of 100 billion" and "leading property enterprises, how to realize the dream of 100 billion?" 》。

Second place: Cai Life

Chairman Pan Jun: Let the community residents really participate and make the community warm.

"Why should we upgrade from property management to service to people, and finally to community integration? This is the question of community integration that I started asking this year. So we must upgrade the dimension in the future.

How to upgrade? To truly integrate into the residents of the community; Second, it should be combined with party building; Third, it is necessary to get through with street offices, neighborhood committees and community workstations. The most important thing is to really interact with the industry Committee. "

Comments: As an indispensable "big brother" to promote the real estate industry to the capital market, after five years of blindfolded rush, with Tang's resignation, he began a comprehensive strategic reflection and adjustment.

As the saying goes, you will get up from where you fell. Mr. Pan did not elaborate on the market value and expansion too much, but returned to the essence of property services and the basic business unit building to conceive and conceive. Although stocks are no longer sexy, only by doing a good job in fundamentals and community service can we finally usher in the return of value.

Third place: Ya Life Group

Li Dalong, President and CEO: Differentiation of positioning and brand independence of property companies.

"At present, the differences between property companies are mainly reflected in the scale and market value. The capital market still regards property companies as affiliated companies of real estate companies. One of the reasons for the decline in the valuation of real estate stocks this year is the influence of three red lines in the real estate industry. In the future, the differentiation of property companies will depend on their ability to control capital. With the constant impact of capital, the property management industry will accelerate integration and differentiation, and head property companies will have the opportunity to enjoy the value dividend of the A-share market. "

Comments: Li Dalong, President of the Finance Department, joined Ya Life Group on 20/0/6. In four years, through the interaction between industry and finance (holding capital), Ya Life Group was led to jump from 65,438 billion yuan to 65,438 billion yuan. This should be the helmsman who knows the capital best and controls it best in the real estate industry at present. No wonder he is young (1986, 34 years old) and can trade a listed company with a market value of nearly 50 billion.

What I look forward to most is that the shareholders and management of Ya Life will never forget to return to A shares. I believe that it won't be long before the service of Ya Life will realize the wish of A+H dual layout. Don't tremble, a-share friends.

Fourth place: Greentown Service

Wu Zhihua said that this is the current strategic adjustment of Greentown service, which is expressed by an equation, that is, the future of Greentown service = (people-oriented+technology) ecological platform.

Comments: Greentown service has always been regarded as the explorer and leader of the industry, especially in the innovation of business model and the expansion of value-added services. Greentown services, like evangelists, constantly gain new knowledge and new insights and spread classics for industry enterprises. Although listing in recent years, the limelight is decreasing, but excellent management ability is always online. Keep watching!

Fifth place: Zheng Rong service

"Similarly, we also found that the company's value and price are not the same thing, and they often deviate from each other. I am sometimes very anxious, because it is true that the stock price performance has been affected, and many colleagues have also been affected. I'm too anxious to sleep. Later, I consulted a master. He said you don't have to care about the capital market at all. The deviation between the price and the value of the capital market is normal. What is this equivalent to?

Equivalent to the relationship between man and dog, man can walk the dog. This dog is the stock price, and people are the market value of the company. As long as the value of people keeps going forward, no matter whether the dog is in front of people or behind people, the value of the company keeps going forward and will definitely come back to you. From this point of view, if we really manage the company's value and do a good job in fundamentals, we will certainly get a better stock price return in time. "

Comments: Mr. Huang's speech is quite good, except for the paragraph marked in red above, this figure expresses regret. There are two points:

1, "foul language", that is, improper expression, it is really inappropriate to use people to walk dogs to discuss the fluctuation relationship between stock price and market value. A more appropriate expression should be "price always fluctuates around value. As long as we focus on the creation of value, price will eventually return to the track of correctly reflecting value."

2. "The truth is also rough." "We really do a good job in the company's value management and fundamentals, and we will definitely get better stock price returns in time." This good definition standard lies not in you, but in the capital market and the evaluation index system of investment banks and professional institutions. In addition to burying your head, you should look up at the sky when you walk.

Look at Country Garden Service and Yongsheng Life Service. The stock prices have been fluctuating and rising, while Zheng Rong Service, China Shipping Property and Financial Street Property have been fluctuating and falling. Can you say that investors have no vision? Can you say that the business operation is not good?

The product management market has the logic of product management, and the capital investment market has the logic of capital market management. We should take the initiative to embrace it and tell the company's vision and logic of creating value in words that can be understood by the capital market. Like Country Garden service and elegant life service, we should make good use of the power of capital to win a win-win situation in product market and capital market.

Despise capital, refuse to communicate with capital well, and finally suffer from the enterprise itself.

Sixth place: CITIC Jiantou Securities

"What do you think of property management companies in the future? I think the most important thing is that everyone thinks that you are a consumer company, and your financial indicators are consistent with consumer companies? At present, there are only Maotai and non-Maotai in the market, and technology stocks only have maotai-flavor technology. Why is it good? It is because the cash flow is good, because the profit is deceptive on the accounting table, and the cash flow is real. "

Comments: peers don't comment on peers, but agree with his views on the "consumption" valuation of listed property companies. In fact, the fund industry also thinks so. Many funds with the theme of "consumption" have laid out outstanding enterprises such as Country Garden Service, Yongsheng Life Service and Greentown Service. If you are interested, you can take a look at the special research report "Both Consumption Attribute and Long-term Investment Value".