On June 30, Kerui Real Estate Research Center released the sales of Chinese real estate enterprises in the first half of 2022< Br > < div class= "contheight" > < / div > according to the report data, country garden (02007.hk) ranked first with sales (full caliber sales, the same below) of 246.99 billion yuan, poly development (600048.sh) ranked second with sales of 210.2 billion yuan, and Vanke ranked third with sales of 209.6 billion yuan. Followed by CNOOC real estate with 137.5 billion yuan, China Resources Land (01109.hk) with 121 billion yuan, China Merchants Shekou (00197.9.sz) with 118.8 billion yuan, rongchuang China (01918.hk) with 112.7 billion yuan of sales, and Jindi group (600383.sh) with 100.6 billion yuan of sales. In terms of the sales of top 10 developers, there were only eight developers with sales of more than 100 billion yuan in the first half of 2022, and the cumulative sales of these eight developers were about 1257.4 billion yuan< Br > < div class= "contheight" > < / div > Kerry said in the report that in June, some large-scale real estate enterprises’ projects were in a better state of decentralization and their monthly performance was outstanding, such as China shipping, China Resources, Greentown, China Merchants, Jindi, Greenland, Binjiang, Jinmao, Yuexiu, HUAFA, Renheng and other enterprises, whose monthly performance increased by more than 60% month on month< img alt="" style="width:600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/203/611/350.png "> in terms of the achievement of the performance goals of large-scale real estate enterprises in the first half of the year, among the large-scale listed real estate enterprises that publicly disclose their annual goals, most of them have achieved less than 40% of their goals by the end of June, and nearly half of them even less than 30%. The goal completion rate of most enterprises in the first half of the year is significantly lower than that in the same period of 2021, and the goal completion rate of some enterprises is more than 20 percentage points lower than that in the same period of 2021.

< / div > since this year, even though most real estate enterprises have chosen not to publicly disclose their targets, or have taken the initiative to reduce the annual targets, the actual performance of the enterprises is still less than expected by the end of the first half of the year, and the pressure on the supply of goods value and sales in the second half of the year has increased. With the recent easing and improvement of the policy, large-scale real estate enterprises need to further step up the supply of goods in the third and fourth quarters, and actively marketing to improve the level of the elimination rate.  from the perspective of enterprise financing, at present, the industry risks have not been cleared up, the overall financing of enterprises has not significantly warmed up, and the liquidity pressure of most enterprises continues. In the first half of 2022, the overall financing scale of industry scale real estate enterprises fell significantly. From January to June 2022, the monthly financing volume of large-scale real estate enterprises fell to varying degrees year-on-year, with a higher decline of more than 50% in January, February and June.

< / div > Kerry said that in the second half of 2022, the real estate industry will shift from deleveraging to stable leverage. Combined with the policy signals in the first half of the year, it is inferred that the financing policy in the second half of the year will continue to support the reasonable financing needs of enterprises, maintain the stability and order of real estate financing, and restore the” blood making “of real estate enterprises’ operations as soon as possible Function oriented. However, it will take time for the transmission and implementation of the policy recovery. In the short term, the problems of difficult and expensive financing of most private real estate enterprises have not been substantially improved. In the face of several bond maturity peaks in the second half of the year, the overall debt repayment pressure of enterprises is still large< Br > < div class= "contheight" > < /div> in addition, it is expected that monetary policy will continue to be loose in the second half of 2022, and will continue to reduce reserve requirements and interest rates to bail out the real economy, and the real estate industry will also benefit. The real estate financial policy may implement counter cyclical regulation, and the industry will also move from deleveraging to stabilizing leverage. Comprehensively relax the residential mortgage loan policy and guide the real estate transaction to resume normalization as soon as possible, involving comprehensively reducing the down payment ratio, relaxing the loan restriction policy standards, and continuing to reduce the mortgage interest rate. Local governments will step up the implementation of the combination of market rescue policies. Second tier and third and fourth tier cities may completely cancel the purchase, sale and price restrictions, so that the market signal will no longer fail. Pressure cities still need to support the market through fiscal incentives, housing ticket placement and other policies and measures.