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From the 2024 Earnings Reports, looking at SHIMAO SERVICES (00873) and the strategic clarity behind its "give" and "take".
In 2024, SHIMAO SERVICES property management services achieved an income of 5.564 billion yuan, a year-on-year increase of 5.1%.
CRIC Real Estate Research: In March, the real estate market saw a steady year-on-year growth, with accelerated sales and a warming in the market despite reduced volumes.
On April 2, CRIC Real Estate Research published a report stating that in March 2025, the real estate market continues to stabilize after falling, with supply and demand gradually rebounding, month-on-month growth maintained, and transaction volume increasing by 4% year-on-year. Second-hand housing transactions continue to show volatility at a high level, with a month-on-month increase of 50% and a year-on-year growth of 21%.
The real estate market has increased support.
Consolidate stability.
The Central Finger Research Institute: The total amount of land acquired by the top 100 companies is 289.58 billion yuan, a year-on-year increase of 30.6%.
On April 1st, the China Index Academy released the TOP 100 national Real Estate companies' land acquisition rankings for January to March 2025.
The era of "good houses" has begun! The new regulations from the Ministry of Housing and Urban-Rural Development raise the standards for Residences, which will create what kind of "catalyst effect"?
① The Ministry of Housing and Urban-Rural Development today released the national standard "Residential Project Specification," which is significant as it not only pertains to the improvement of building standards but will also impact the supply and demand structure, development logic, and consumer trends in the Real Estate market; ② Following the publication of the "Specification," a series of related issues have drawn attention from various parties, including whether it will increase construction and installation costs, and whether it will impact existing projects on sale.
SHIMAO SERVICES (00873.HK) in 2024: Deepening service capability, empowering with Technology, and expanding ecological strength.
For observers of the Property Service Industry, a profound change is that over the past decade, China's property management industry has undergone a transformation from being "real estate affiliated" to an "independent track." Especially after the deep adjustment in real estate post-2020, the industry ecology has changed drastically — the incremental market has shrunk, competition among existing players has intensified, and the value of services has returned. In terms of industry ecology, against the backdrop of continuous risks faced by real estate companies, the independence of property companies has received unprecedented attention; from a policy perspective, the integration of "Property Service + Lifestyle Services" has forced property companies to shift from "land grabbing" to "refined operations;" in the Capital Markets, investors holding substantial capital.
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