机构：聚焦核心城市、保持投资强度的上市房企更获投资者青睐

Group 1 - The report by the China Index Academy indicates that the average total assets of real estate listed companies in 2024 will be 148.92 billion yuan, with an average net asset of 32.86 billion yuan and average operating income of 29.74 billion yuan, suggesting a slow recovery in the new housing market focusing on core cities [1] - The report emphasizes that with the implementation of policies on both supply and demand sides in the real estate sector, along with an increase in the supply of "good housing" projects, the core city market is expected to continue its recovery [1] - Investors are likely to pay more attention to companies' sustainable operational capabilities, favoring those that maintain stable operations, demonstrate land acquisition abilities, and possess strong operational businesses [1] Group 2 - The report highlights that in 2024, despite being in a deep adjustment cycle, the top 10 companies in terms of comprehensive strength will adapt to market changes, grasp market demand rhythms, and leverage their advantages in market layout, land and capital resources, and management models to maintain stable performance [1] - The real estate sector is projected to experience a decline followed by a slight recovery, with the overall market capitalization of real estate listed companies showing a downward trend, although the decline is expected to narrow compared to the previous year [1] - The property management industry is undergoing a deep transformation, with accelerated market competition leading to a reshaping of the industry landscape, where leading companies are expected to dominate due to their scale advantages, brand effects, and diversified service capabilities [2]