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, the average growth rate of business income of property stocks reached 80% in 2020. In the past year, the property sector is still a stage of rapid growth, but the market concentration is still not high. On the one hand, a large number of property secondary new shares, rich property stocks have planned mergers and acquisitions; on the other hand, country Garden Services merger and acquisition of Blu-ray Garbo, there is a precedent for mergers and acquisitions between property stocks in the secondary market. In 2021, the competition of property stocks in M & An is bound to be more fierce.

The first thing to look at in M & An is financial strength. According to Wind data, 43 property stocks currently have a total of 122.04 billion yuan in cash and cash equivalents, with an average of 2.84 billion yuan and a median of 14.5 billion yuan. In other words, at least half of the property stock cash equivalents in the average, 18 cash reserves of less than 1 billion yuan.

The leading boss, country Garden Service, operates through rights issues and other capitals. at present, cash and cash equivalents are up to 15.215 billion yuan. Followed by Evergrande property 12.6 billion yuan, China Resources Vientiane living 10.312 billion yuan, financial services 9.4 billion yuan. The lowest is Pujiang, China is only 127 million yuan.

In addition, it is worth noting that the head property listed in the second half of 2020 is bullish by the market, and the amount of funds raised on the market is relatively large. By the end of 2020, cash equivalents had exceeded their operating income. Such as Evergrande property, China Resources Vientiane trial, Fuchuang service. Among them, the cash and cash equivalents of Fuchuang Services are equivalent to twice its revenue.