Tang Yan Zhonggou Lian 2022-10-05 12:36 Published in Beijing
Starting from late August, as a traditional financial report season, luxury goods, clothing, catering, supermarkets and other industries have all shown their results in the first half of 2022. From these mixed financial reports in the industries, we can also see that the heavy impact of the repeated epidemic on physical business is directly reflected in the numbers.
According to data released by the National Bureau of Statistics, in the first half of 2022, catering revenue was 2004 billion yuan, a decrease of 7.7%; while retail sales of consumer goods in physical stores reached 15593.9 billion yuan, a year-on-year decrease of 2.7%.
What is the current situation of commercial real estate closely related to this background? In mid-September, China Gou Lian Iridium Cloud Merchants took stock of the latest operating conditions of some representative companies: China Resources , Wanda , Longhu , Joy City... The semi-annual report revealed the future plans ; Swire, Hang Lung, Hutchison , Sun Hung Kai ... the latest operational situation and future plans.
Recently, with more and more corporate financial reports such as Hopson Development , Jindi Commercial Real Estate , etc., Zhonggou Lian Iridium Cloud Merchants once again sorted out to more comprehensively analyze the industry's development trends and future plans for reference in the industry.
Shimao Co., Ltd.
On August 30, Shanghai Shimao Co., Ltd. (hereinafter referred to as "Shimao Co., Ltd.") released its first half of the 2022 annual report. During the reporting period, the operating income of Shimao Co., Ltd. was 3.579 billion yuan, a year-on-year decrease of 69.92% , of which the operating income of commercial real estate decreased by 63.50% year-on-year to 1.959 billion yuan; the comprehensive gross profit was 922 million yuan, a year-on-year decrease of 79.92%, and the net profit was -476 million yuan, a year-on-year decrease of 121.85%, and the net profit attributable to shareholders of listed companies was -348 million yuan, a year-on-year decrease of 130.47%. In the report,
Shimao Co., Ltd. stated that in terms of commercial operations and management, 2022 started smoothly and the overall market performance was positive and positive, but the new round of national epidemics since March has had a huge impact on the offline retail market. Under multiple high-pressure control measures, the overall sales passenger flow showed a cliff-like decline. From April to May, when the epidemic was the most serious, the passenger flow of in the commercial projects under management fell by 58% and 55% respectively compared with the same period last year. In terms of light asset management output, as of now,
Shimao Co., Ltd. has 7 light asset projects under management , with a management volume of about 330,000 square meters, including a variety of cooperation models such as whole rental, management output, and professional services. In addition, the company has a large number of resources to follow up and expand, among which the project volume that has been promoted to the business point negotiation stage has reached about 810,000 square meters.
In the second half of the year, Shimao Co., Ltd. will focus on key issues through one store and one policy to improve the overall occupancy rate as soon as possible; negotiate with some merchants with long contract lease periods, large rental area and low rental conditions, promotes the adjustment of large stores and introduces tenants with higher square meters and ; actively create festivals to create market sound and boost business popularity.
At the same time, Shimao Co., Ltd. will further increase its investment in light asset business. focuses on the core urban agglomeration with high-quality projects in operation, and actively explore the brand influence of the projects in operation, striving to gradually realize the layout of light asset brands in key cities.
Baolong Commercial
On August 30,Baolong Commercial Management Holdings Co., Ltd. (hereinafter referred to as "Baolong Commercial") released its 2022 half-year results. During the reporting period, the commercial revenue of Baolong commercial was approximately RMB 1.266 billion , an increase of approximately 8.2% from approximately RMB 1.17 billion in the same period in 2021; the gross profit was approximately RMB 430 million, an increase of approximately 12.3% from approximately RMB 383 million in the same period in 2021; the profit attributable to the company's owners was approximately RMB 240 million, an increase of approximately 18.2% from approximately RMB 203 million in the same period in 2021.
5 Baolong Commercial's first half of the year commercial operation services achieved a total revenue of approximately 1.025 billion , an increase of about 8.7% from 942 million yuan in the same period last year; commercial property rental income was 75.3 million yuan, Baolong Yicheng, Baolong City, Baolong Plaza and Baolong Tiandi Top Ten Brands was 93.4% , of which Baolong Yicheng's average occupancy rate reached 99%, and Baolong City's average occupancy rate was 98.2%.
As of the end of the reporting period, Baolong Commercial had 91 retail commercial properties that have been opened, with a total construction area of about 10.2 million square meters, an increase of about 300,000 square meters from about 9.9 million square meters on December 31, 2021; 140 retail commercial properties have been signed, with a total contracted construction area of about 14.7 million square meters.
2022 In the second half of 2022, will be launched in total 9 retail commercial property projects, including Yuyao Baolong Plaza, Hangzhou Science and Technology City Baolong Plaza, Jingdezhen Baolong Plaza, Xiamen Tong'an Baolong Plaza, Shanghai Jiading Baolong Tiandi, Xiamen Guboyuan Baolong Tiandi, Xiamen Tangbian Baolong Tiandi, Shaoxing Jindi Baolong Plaza, etc.
Baolong Commercial stated that in terms of commercial operation services, it will continue to improve operations, maintain scale growth, promote smart business, and optimize organizational talents. Although the overall occupancy rate fell slightly in the first half of 2022 due to the impact of the new crown epidemic, the target of 's overall occupancy rate of 96% for the whole year remains unchanged .
2022 In the second half of 2022, Baolong Commercial will learn from previous successful adjustment and reform experiences, strengthen investment promotion and tenant adjustment work, and at the same time continue to iterate high-quality projects to comprehensively improve the project's floor efficiency and overall income.
OCT A
On August 29, Shenzhen OCT Co., Ltd. (hereinafter referred to as "OCT A") released its 2022 semi-annual report. In the first half of 2022, the operating income of OCT A was 16.396 billion yuan, a year-on-year decrease of 28.76% ; it achieved a net profit of 750 million yuan and a net profit attributable to shareholders of 105 million yuan, a year-on-year decrease of 68% and 93.34%.
Among them, tourism comprehensive business revenue decreased by 44% year-on-year to 10.549 billion , with a gross profit margin of 25%, basically the same as the same period last year.
During the reporting period, OCT A's 32 scenic spots, 29 hotels, 1 travel agency, 8 open tourist areas and 1 tourism performing arts received a total of 26.777 million tourists, , the level of 94% of the same period last year. OCT A has also successively launched projects such as Chengdu Longquanyi Happy Pastoral, Chengdu Dong'an Pavilion Hotel, Xiangyang Fantasy Valley, Maoming Youfucheng Scenic Area, Yan Jingdanjiaxu Tangxiali Street, Xi'an OCT1314 Ferris Wheel.
22 In the first half of 2022, OCT A achieved a cumulative sales area of 1.28 million square meters and a signed sales volume of 27.3 billion yuan, a decrease of 42% and 38% respectively over the same period last year, a decrease of slightly lower than the industry's top 100 average. Two comprehensive cultural and tourism land were obtained, one of which is located in the Songshan Lake area of Dongguan City, with a total capacity of 182,500 square meters and an equity ratio of 51%; one is located in Longquanyi District, Chengdu City, with a total capacity of 97,900 square meters and an equity ratio of 60%.
In addition, during the reporting period, the property group under OCT A added 1.9 million square meters of and implemented multiple market-oriented projects. At present, the number of subsidiaries nationwide has reached 79. OCT Property Smart’s three major platforms have achieved coverage of 290 managed projects, and its project operation and management capabilities have steadily improved.
Regarding the second half of 2022 business plan, OCT A said that in terms of cultural tourism business, it will focus on supply-side reform, promotes the integrated development of cultural tourism and maintains the leading level of products.
Poly Development Holdings
Poly Development Holdings Group Co., Ltd. (hereinafter referred to as "Poly Development ") released an interim report, in the first half of 2022, achieved total operating revenue of 110.763 billion yuan, a year-on-year increase of 23.10% ; gross profit margin was 25.55%, a year-on-year decrease of 6.95%; net profit was 14.924 billion yuan, a year-on-year increase of 1.60%; net profit was 13.47%, a year-on-year decrease of 2.85%; net profit attributable to shareholders was 10.826 billion yuan, a year-on-year increase of 5.11%; net profit attributable to shareholders was 10.125 billion yuan, a year-on-year increase of 0.76%. In terms of property,
, Poly Property achieved operating income of 6.449 billion yuan in the first half of 2022, an increase of 25.16% year-on-year. During the reporting period, projects such as Xin Growth Sand Rail Line 6, Guangzhou Haizhu Lake National Wetland Park, Jiaxing Nanbeihu Scenic Area, etc., as of the end of the reporting period, Poly Property had a managed area of 523 million square meters and a contract area of 732 million square meters. In terms of the commercial sector of
as of the end of the reporting period, there were 34 shopping centers opened in , with an opening area of 2.31 million square meters. The projects under construction and construction are distributed in 38 cities including Guangzhou, Shanghai, Wuhan, etc.; the hotel management sector has opened 22 hotels and conference centers, with nearly 5,700 guest rooms; the apartment sector has opened 49 projects and planned to open, covering core cities such as Shanghai, Guangzhou, Hangzhou, and Chengdu.
Poly Development Holdings pointed out that the current complex development environment of the industry has put forward higher requirements for the strategies and operations of real estate companies. This requires enterprises to actively practice social responsibilities and strengthen their brand image while deeply focusing on market demand, forging professional capabilities in the product design, cost control, operation management, service guarantee and other links, provide products and services that better match customer needs, and further enhance brand reputation and market recognition.
Hopec Development
On September 21, Hopec Development Group Co., Ltd. (hereinafter referred to as "Hpec Development") issued an interim performance announcement as of 2022. During the reporting period, Hopson Development's turnover of was HK$13.17 billion, a year-on-year decrease of 18.1% ; gross profit was HK$3.064 billion, and gross profit margin was 23% (2021: 63%), the decline was mainly due to the impact of the group's investment business performance. In terms of the commercial sector, Hoshen Chuangzhan Commercial Real Estate's commercial urban complexes integrate shopping centers, office buildings, hotels, apartments, residential buildings and other property forms, such as Beijing Heshenghui, Shanghai Wujiaochang Shenghui and other urban-level complexes, Guangzhou Haizhu Hesheng Plaza and other regional boutique shopping centers, and Beijing Qilin New World and other diverse experience-oriented commercial centers. The report shows that the pre-offset income of commercial real estate was HK$1.926 billion, and the occupancy rate of is 97.16. In terms of the property management sector, the income before offsetting of Heshenghui Community and Property Management was HK$1.011 billion and HK$717 million, respectively, showing a strong growth trend. In addition, Hesheng Technology Group, which focuses on digital industrialization and industrial digitalization, has served more than 30 cities and more than 200 projects. The operating and management area of has reached 149 million square meters of , providing services to more than 1 million families.
Looking forward to the second half of the year, Hopson Development stated that with the continued recovery of the vitality of the consumer market and the continuous improvement of the level of smart business operations and comprehensive services in the physical real estate sector, the rental level of of properties under the commercial real estate sector will show a steady upward trend.
Hesheng Technology Group will also firmly adhere to the dual-wheel drive strategy of "class empowerment + operation empowerment", empower quality upgrades, continuously optimize and upgrade the service quality of diverse business formats, improve its own operational service capabilities, and continue to contribute value to the development of the industry.
Jindi Commercial Real Estate
On September 15, Jindi Commercial Real Estate Group Co., Ltd. (hereinafter referred to as "Jindi Commercial Real Estate") released its interim results for the six months ended June 30, 2022. The report shows that Jinde Commercial Real Estate's revenue in the first half of 2022 decreased from 4.998 billion yuan in the same period last year to 2.174 billion yuan, a year-on-year decrease of 56% , mainly due to the recognition of the reduction in property sales revenue during this period; gross profit decreased by 22% year-on-year to 1.111.43 million yuan, and gross profit margin was 51%.
During the reporting period, Gemdale Commercial Enterprise held a total construction area of 936,000 square meters of commercial projects in operation, and the total revenue of leasing and related services during the period was approximately RMB 509 million, an increase of approximately 61% over the same period in 2021. Among them, the occupancy rate of in Hangzhou Jindi Plaza reached 97%, and the occupancy rate of 95% in Shanghai Jiuting Jindi Plaza was about 95%.
Jindi Commercial Real Estate has opened 13 commercial projects, including Shanghai Jiuting Jindi Plaza, Nanjing Hexi Jindi Plaza and Nanjing Xinyao Jindi Plaza , etc. At present, the major commercial projects under development include commercial complex projects with various comprehensive uses such as Shanghai, Nanjing, Hangzhou, Suzhou and Nanchang .
In the second half of 2022, Gemdale Commercial Real Estate will continue to adopt scientific and reasonable investment layout, flexible quantity and price business strategies, and leading product creativity to accelerate sales and cash collections to ensure the security of cash flow . With the means of subsistence, optimizes the sales ratio and urban layout .
Ocean Group
On August 31, Ocean Group Holdings Co., Ltd. (hereinafter referred to as "Yunyang Group") released its interim results for 2022. During the reporting period, the total sales of the Sino-Ocean Group agreement was 43.01 billion , a decrease of 18% from the same period last year; the turnover of was 23.412 billion , an increase of 14% from the same period last year. Gross profit was 4.311 billion yuan, down 7% from the same period last year, and gross profit margin was 18%, down 4% from the same period last year.
Among them, 's turnover from property investment increased by 3% to RMB 210 million . As of the end of the reporting period, Yuanyang Group, its joint ventures and associates held more than 22 operating investment properties, with a total leaseable area of approximately 3.822 million square meters, of which , of which commerce, parking spaces and others accounted for about 30% . In terms of property management and related services,
, the turnover of increased by 18% year-on-year to 1.39 billion yuan . The increase in this part of the revenue is mainly due to the increase in the managed building area and managed projects during the reporting period, the expansion of commercial operation services to shopping centers and office building owners, and the expansion of property engineering services and consulting services. During the reporting period, the occupancy rate remained at a high level. In the retail property sector, the occupancy rate of Chengdu Ocean Taikoo Li occupancy rate was 96%, and the occupancy rate of 95% in Hangzhou Ocean Leti Port .
On June 30, 2022, the total contracted construction area of Ocean Service's property management services reached 121.52 million square meters, covering 84 cities in 24 provinces, autonomous regions and municipalities in China, with a total management construction area of 79.38 million square meters. has 392 property projects under management, including 48 commercial property.
Looking to the future, the total construction area of the property held by China Ocean Group under construction exceeds 1.7 million square meters, of which Beijing Ocean Leti Port will be gradually opened from the fourth quarter of 2022.
The high-end commercial and office building projects to be developed and operated in existing projects will be put into operation in stages by 2026, including Beijing Ocean Leti Port, Beijing Yiti Port Phase II , etc. In the future, a cross-regional and diversified brand series will be formed.
Jinke Co., Ltd.
On August 30, Jinke Real Estate Group Co., Ltd. (hereinafter referred to as "Jinke Co., Ltd.") released its 2022 semi-annual report. During the reporting period, Jinke Co., Ltd.'s operating income of was RMB 31.322 billion, a year-on-year decrease of 28.77% ; the net profit attributable to shareholders of listed companies was -1.437 billion yuan, a year-on-year decrease of 138.78%; the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of was RMB 1.825 billion, a year-on-year decrease of 164.04%.
In the first half of 2022, Jinke Service achieved operating income of 2.565 billion , basically the same as the same period last year; net profit was 372 million yuan, a year-on-year decrease of 31%. The contract management area reached 374 million square meters, with independent third parties accounting for about 71%; the managed area reached 251 million square meters, with independent third parties accounting for about 64%.
As of the end of the reporting period, Jinke Commercial has nearly 10 projects under management, with an area of about 3.48 million square meters of ; during the reporting period, the "real estate + commercial" light asset development model has initially achieved results, with more than 10 projects signed, with contract revenue of nearly 300 million yuan. Some projects have been converted from heavy asset to light asset, with more than 20 new industry resources and hundreds of new commercial brands. With deep understanding and active exploration of business trends, especially community commerce, Jinke Commercial has also released yuan universe commercial product system - JinMETA.
In order to firmly adhere to the development direction and serve the "four-in-one, ecological collaboration" strategy, Jinke Co., Ltd. proposed the top ten strategies to promote the high-quality development of enterprises such as to improve leading technological capabilities and enhance strong brand management capabilities . For example, in order to improve leading scientific and technological capabilities, we will use cutting-edge technology to deeply empower the entire production and operation chain, relying on the advantages of real estate intelligence, diversification and scenarios to explore the new generation of information technology, new economy, new models, and new industries, , and promote the fusion of corporate value.
Mide Real Estate
On August 26, Midea Real Estate Holdings Co., Ltd. (hereinafter referred to as "Midea Real Estate") released its interim results for 2022. During the reporting period, Midea Real Estate's revenue was 31.663 billion yuan, a year-on-year decrease of 4.2% ; gross profit was 5.669 billion yuan, a year-on-year decrease of 17.1%; core net profit was 2.736 billion yuan, a year-on-year decrease of 11.8%; core net profit attributable to the company's owners was 1.656 billion yuan, a year-on-year decrease of 26.5%.
In the first half of 2022, Midea Real Estate focused on high-potential areas in the first and second tiers, and heavily invested in high-volume cities in the national core economic circles such as Yangtze River Delta and Greater Bay Area , and concentrated resources to upgrade to build first and second tier bases. As of the end of the reporting period, Midea Real Estate had a total of 337 property development projects, including 98 projects through joint ventures and associate companies, covering 60 cities across the country, and the total land reserves had a total construction area of 42.94 million square meters. In terms of commercial property investment and operation, during the reporting period, Midea Real Estate's commercial property investment and operation revenue was 134.12 million yuan , an increase of 0.8% from 133.05 million yuan in the same period in 2021, basically the same as the same period in 2021.
As of June 30, 2022, Midea Real Estate Commercial Management Project has a total of 15 , including 9 projects in operation, namely Foshan Midea Yueran Square, Foshan Midea Yueran Square, Zhenjiang Midea Yueran Square, Handan Midea Yueran Square, Xuzhou Midea Times Square, Foshan Yueran House, Foshan Midea Real Estate Headquarters Building and Midea Luhu Forest Resort .
Mide Real Estate Three Yueran commercial product lines have been fully implemented in . It is expected that from 2022 to 2023, Guiyang Midea Yueran Square, Guiyang Midea Yueran Time, Xuzhou Midea Yueran Li, Foshan Midea Yueran Future City and Foshan Nanhai Midea Yueran Home will be opened one after another. In 2022, Midea Commercial entered the maternal and infant track . With a joint business model, it worked with well-known local maternal and infant health management agencies to build the Beijiao Yueran store, which is planned to open in August 2022.
In the future, in the context of the return of product strength, Midea Real Estate will focus on the city's deepening, continuously improve its ability to create mid-to-high-end improvement products, and gradually eliminate low-end products. In the property sector, we will deepen basic services, and will focus on customer life scenarios, improve service quality, and realize effective empowerment of housing development business.
Zhongjun Group
On August 30, Zhongjun Group Holdings Co., Ltd. (hereinafter referred to as "Zhongjun Group") issued an interim performance announcement. In the first half of 2022, Zhongjun Group recorded a revenue of 15.385 billion yuan, a decrease of 24.5% from last year ; the profit during the period was 1.543 billion yuan, a decrease of 43.1% year-on-year; the profit attributable to the parent company's owners was 1.274 billion yuan, a decrease of 46.4% year-on-year; the gross profit was 3.418 billion yuan, and the gross profit margin was 22.2%.
From the perspective of business, property sales revenue in the first half of the year was 14.203 billion yuan, accounting for 92.31%; property management fee revenue was 507 million yuan, accounting for 3.30%. Zhongjun Group holds a total of 55 investment properties , with a total construction area of about 4.01 million square meters (the attributable construction area is about 3.44 million square meters), of which 31 investment properties have begun operations.
investment properties are distributed in 25 cities including Beijing, Shanghai, Xiamen , Hangzhou, Suzhou, etc. The business formats cover shopping centers, Changzu apartments, office buildings, commercial streets and shops. Among them, has opened World City Shopping Center, which has 9 .
Zhongjun Group's commercial property management includes basic commercial property management services, pre-opening management services and other value-added services. As of the end of the reporting period, Zhongjun Group's commercial property projects were 16 , with a total managed area of about 22.4 million square meters and 1.6 million square meters respectively.
Looking to the future, "one body and two wings" is still the strategic core of Zhongjun Group. Among them, in terms of the "two wings", the shopping center will attach importance to the "high-quality scale" strategy of , focus on the regionally, and provide tenants and consumers with professional and high-quality business management and operation services through the "Zhongjun World City" brand.
※ Note: Corporate information comes from the company, public information and third-party channel information
Zhonggoulian Yixing Cloud Merchants New Media Center | Author Tang Yan
