As of April 1, except for Nandu property and special service, 42 A + H45 property stocks have officially issued the 2020 performance announcement. (unaudited performance of Xinyuan service)

According to Wind data and company announcements, eight of the 43 property stocks doubled their performance last year, with Evergrande property attracting attention with a net profit of 2.648 billion yuan, up 184% from a year earlier. But it is well known that the property management industry is not very profitable, with an average net profit of 430 million yuan last year, an average growth rate of 79 per cent.

There are only three companies with a net profit of more than 1 billion yuan, namely, 2.686 billion yuan for country Garden, 2.648 billion yuan for Evergrande property, and 1.754 billion yuan for elegant living services. Market concentration needs to be improved.

Under the upward trend of the industry, wind data show that the net profit of Financial Street property, Song du Service and Xing Star Group fell by 0.74%, 7.07% and 20% respectively compared with the same period last year. All three are small in size, especially Song du Service and Mixing Group belong to mini-goods enterprises. It can be seen that in the environment of crazy mergers and acquisitions in the industry, it is difficult for small property enterprises to have an advantage.

The growth rate of most of the property enterprises with revenue of less than 1 billion yuan in 2020 is lower than the average. For example, the net profit of Societe Generale property increased by 24% compared with the same period last year, the blessing life service increased by 34% year-on-year, Hongyang service increased by 18%, the first service increased by 23%, and Xingsheng business increased by 50%.