Feng Huang Wang·2025-10-05 10:32Group 1 - The real estate industry is showing signs of recovery as the "Golden September and Silver October" traditional peak season approaches, with the top 100 real estate companies achieving a monthly sales amount of 252.8 billion yuan in September 2025, a year-on-year increase of 0.4% and a month-on-month increase of 22.2% [1] - Among the top 100 real estate companies, 72 companies reported month-on-month performance growth in September, with 45 companies experiencing a month-on-month increase of over 30%, including major players like China Resources Land and China State Construction [1] - Cumulative sales for the top 100 real estate companies from January to September 2025 reached 2.60659 trillion yuan, a year-on-year decline of 12.2%, but the decline has narrowed by 1.1 percentage points compared to the previous period, indicating an initial recovery trend [1] Group 2 - Poly Developments ranked first in sales with 201.7 billion yuan, followed by Greentown China and China Overseas Land with sales of 178.5 billion yuan and 170.5 billion yuan, respectively [2] - The enthusiasm for land acquisition among real estate companies has increased, with the total land acquisition amount for the top 100 companies reaching 727.8 billion yuan from January to September 2025, a year-on-year increase of 36.7% [2] - Leading companies in new land value include Greentown China, Poly Developments, and China Overseas Land, with new land values of 117.5 billion yuan, 101 billion yuan, and 95.2 billion yuan, respectively [2] Group 3 - The strong performance in land acquisition and sales is primarily seen among leading state-owned enterprises and a few mixed-ownership and private companies, with quality real estate firms expected to benefit more in the future [3] - Several core cities have continued to optimize demand-side policies in September, injecting momentum into the market, such as Shenzhen relaxing purchase restrictions and Shanghai optimizing property tax policies [3] - Despite some recovery in core cities, many other cities still face relative stagnation, and the overall market remains under adjustment pressure, with a continued focus on stabilizing the market [3]