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2019/12/31 15:03:08 Source: Tianfeng Securities 2019/12/31 15:03:08
Non-residential properties mainly include commercial properties, office properties, park properties and public construction properties. Urban public construction properties can be further subdivided into school properties, hospital properties, and public transportation properties. The wide coverage of non-residential properties is an important part of the property management industry. The non-residential market has ample market space. According to the data of the Middle Finger Hospital, the area under management of the National Industrial Park in 2018 was 890 million square meters; the number of hospitals was 29,000, including 2267 tertiary hospitals and 8081 secondary hospitals; the number of general colleges and universities in China was 2663 (including independent colleges 265 )).
In 2018, the non-residential revenue of the top 500 property management companies accounted for more than 50%. According to the data of the China Institute of Research and Development, in 2018, the non-residential management area of the top 500 property management enterprises accounted for 36.52%, and the non-residential property management service revenue accounted for 52.38%. Specifically: commercial, office, park, school, and hospital areas under management are 694 million square meters, 1.098 billion square meters, 739 million square meters, 629 million square meters, 204 million square meters, and the total non-residential management area is 4.341 billion. Square meters.
A Comparative Perspective of Industry
At present, most companies in the property industry are involved in non-residential properties. Among them, Hong Kong-listed property management companies mostly rely on the real estate parent company. In recent years, their operations have focused on residential properties and value-added services for owners;
The company has strong marketization capabilities, has strong professional advantages in airport, school and other subdivided fields, conforms to the trend of logistics socialization reform, and efficiently operates genes to lay a growth trend. The five major project categories establish a standardized, process-oriented, sustainable innovation management system.
Maintain profit forecast and buy rating
Risk Tips: Loss of Core Talents, Real Estate Development Less Than Expected, Outward Expansion Area Less Than Expected