PDH(SH:600048) Xin Lang Cai Jing·2025-09-01 21:02Group 1 - In the first eight months of this year, five real estate companies among the top 100 achieved sales exceeding 100 billion yuan, with Poly Developments leading the industry [1][2] - The total sales of the top 100 real estate companies reached 23,270.5 billion yuan, a year-on-year decrease of 13.3%, with the top ten companies accounting for 49% of the total sales [1][3] - The top five companies by total sales according to the China Index Academy are Poly Developments (181.2 billion yuan), Greentown China (156.3 billion yuan), China Overseas Land & Investment (150.3 billion yuan), China Resources Land (142.5 billion yuan), and China Merchants Shekou (124.05 billion yuan) [1][2] Group 2 - The top five companies by equity sales, which are considered to have more "gold content," are Poly Developments (142.8 billion yuan), China Overseas Land & Investment (138.28 billion yuan), China Resources Land (91.57 billion yuan), China Merchants Shekou (84.3 billion yuan), and Vanke (63.9 billion yuan) [2] - Only five companies, including Poly Developments, Greentown China, and China Overseas Land & Investment, achieved sales exceeding 100 billion yuan in the first eight months [2][3] - The average sales of the top ten companies decreased by 12.1% year-on-year, with the average sales amounting to 114.5 billion yuan [4] Group 3 - New entrants in the top 20 include Guomao Real Estate, which replaced Nengjian Chengfa, with a sales figure of 25.41 billion yuan [3] - The top 10 companies' sales figures indicate a growing concentration of sales among leading firms, highlighting the "80/20 rule" where nearly half of the total sales come from the top 10 companies [3][4] - Two companies from the China State Construction Engineering Corporation entered the top 20, namely China State Construction One and China State Construction East, with sales of 36.33 billion yuan and 35.76 billion yuan, respectively [4]