黄金周样本：好房子正在被市场选择

Core Viewpoint - The real estate industry is showing signs of recovery as the "Golden September and Silver October" sales season approaches, with major developers reporting improved sales performance and a gradual stabilization of the market [1][4] Industry Overview - In the first nine months of 2025, the total sales of the top 100 real estate companies reached 26,065.9 billion yuan, with a decline rate narrowing by 1.1 percentage points compared to the previous month [1] - In September 2025, the top 100 real estate companies achieved a monthly sales amount of 2,528 billion yuan, reflecting a year-on-year growth of 0.4% and a month-on-month increase of 22.2% [1] - The market is witnessing a shift towards high-quality development, with a focus on improving housing quality and meeting consumer demand for better living standards [1][11] Company Strategy - Poly Developments has proposed a long-term strategic plan focusing on "three main businesses": real estate investment and development, real estate management, and comprehensive real estate services, aiming to lead the industry towards a new development model [2] - The company emphasizes the importance of product quality and service excellence, aligning with the national policy of increasing high-quality housing supply [7][11] Financial Performance - In the first half of 2025, Poly Developments achieved a sales recovery of 1,448 billion yuan, with a cash recovery rate of 100%, marking a year-on-year increase of 15 percentage points [4] - The company maintained a strong financial position with a cash balance of 1,386 billion yuan, accounting for over 10% of total assets, and an additional 593 billion yuan in sold but not yet collected funds [4] Market Position - Poly Developments ranked first in the industry with a sales figure of 2,017 billion yuan in the first nine months of 2025, becoming the only company to surpass the 200 billion yuan mark [4] - The company has demonstrated strong market demand for high-quality housing, with new project opening rates in major cities significantly exceeding historical averages [4] Product Development - The company is focusing on high-end product offerings, integrating local culture and lifestyle into its developments, and has launched the "Tianyi" sub-brand, which has exceeded market expectations with a cumulative signing amount of over 7.5 billion yuan [8] - Poly Developments has established a comprehensive quality management system that covers all stages of development, ensuring high standards in product quality and customer service [8][9] Community Engagement - The company is enhancing its service quality by implementing detailed service standards and creating a community culture that fosters emotional connections among residents [10][11] - Poly Developments serves approximately 1.88 million households, emphasizing a holistic approach to community management and customer satisfaction [9]