Cai Jing Wang·2026-01-14 03:48Group 1 - In the top 20 cities, 16 are core first and second-tier cities, with land transfer fees exceeding 140 billion yuan in Beijing, Hangzhou, and Shanghai, and Hangzhou's fees surpassing the total for 2024 in the first seven months [1] - The sales performance of the top 100 real estate companies is under pressure, with total sales expected to decline by 18.4% year-on-year to approximately 25,209 billion yuan in 2025, while the number of companies exceeding 10 billion yuan in sales has decreased [2][4] - The top 100 companies' land acquisition total is projected to reach 9,640 billion yuan in 2025, reflecting a year-on-year increase of 3.9% [2][7] Group 2 - The sales ranking of real estate companies is undergoing a reshuffle, with the top 10 companies accounting for 49.8% of total sales, an increase of 1.5 percentage points from 2024 [4] - Poly Developments leads the sales ranking with 253 billion yuan, followed closely by Greentown China, China Overseas Property, and China Resources Land, all exceeding 200 billion yuan in sales [4][5] - The land acquisition strategies of real estate companies remain cautious, with a focus on core cities, and the top 20 cities account for 52% of national land transfer fees, indicating a shift towards more stable markets [8][9]