Core Insights - The construction management market in China is entering a new phase characterized by high penetration rates but slowing growth, with the number of companies entering the market reaching saturation [2][4]. Group 1: Market Characteristics - The construction management market's penetration rate has reached a historical high of 7.76% in 2025 H1, up from 0.89% in 2022, although the growth rate has slowed, increasing by only 1.1 percentage points compared to 2024 [2][4]. - Over 100 real estate companies are now involved in construction management, with the market becoming increasingly competitive and stable, as the number of new entrants has not increased in 2025 H1 [4]. Group 2: Company Performance - The top 30 construction management companies in China have a total contracted area of 10.19 billion square meters, reflecting a year-on-year growth of 25% and a 12% increase compared to the end of 2024 [9]. - Green City Management, Blue City Group, and Runze Management are the top three companies in terms of comprehensive capability, maintaining strong growth and market recognition [5][6]. Group 3: Competitive Landscape - The market structure is characterized by stability among top-tier companies, with the top 10 firms showing an 80% overlap with 2023 rankings, while the lower tier (21-30) shows significant changes, indicating intense competition and ongoing market reshuffling [7]. - New entrants like Xuhui Construction Management and Longhu Longzhizao are rapidly growing, leveraging unique competitive advantages to establish themselves as key players in the industry [6].
克而瑞地产研究：上半年代建新拓面积增速“止跌回稳” 30强企业总合约面积同比增长25%