Bei Jing Shang Bao·2025-07-22 06:01Core Viewpoint - As of July 22, 2025, 40 real estate companies have disclosed their half-year performance forecasts, with 16 companies reporting positive net profits, indicating a potential recovery in the industry driven by project deliveries, asset sales, and capital market investments [1][3][4]. Group 1: Company Performance - Among the 16 profitable companies, notable performers include Chengjian Development, Yudai Development, and Chengtou Holdings, which have turned losses into profits, with expected net profits of 4.4-6.54 billion, 1.75-2.25 billion, and 1.2-1.8 billion respectively [2][3]. - Yudai Development reported the highest profit growth rate among the turnaround companies, with a year-on-year increase of 630.3% to 781.82% [3]. - Chengjian Development and Zhujiang Shares also showed significant profit growth rates of 420.29%-574% and 366.67%-483.33% respectively [3]. Group 2: Factors Driving Profitability - The primary reasons for the profitability of the turnaround companies include project deliveries, increased turnover periods, and improved gross margins, with seven out of ten companies citing these factors [5][6]. - The recovery of the A-share market has positively impacted companies like Zhujiang Shares and Chengjian Development, as their stock assets appreciated in value [7]. - Policy support, including relaxed housing demand controls and increased financing support, has contributed to the improved operating conditions for real estate companies [8]. Group 3: Challenges Ahead - Despite the positive outlook, uncertainties remain for companies like Yudai Development and Wanye Enterprises, as their profitability has been significantly influenced by asset sales rather than operational improvements [9]. - Yudai Development's expected net profit of 1.75-2.25 billion is largely attributed to the sale of a 1% stake in a subsidiary, raising concerns about the sustainability of this profit growth [9]. - Companies are advised to focus on enhancing internal management and controlling costs to ensure long-term profitability and stability in the market [10].