CMSK(SZ:001979) Xin Lang Cai Jing·2026-02-13 07:50Core Viewpoint - The Chinese real estate industry is undergoing a profound restructuring of its valuation system, where "certainty" has replaced "growth" as the primary valuation metric, emphasizing timely delivery, stable quality, and sustainable service [1][14]. Market Differentiation: Certainty as the Only Hard Currency - In 2025, the differentiation in the Xi'an real estate market is unprecedented, with some projects struggling to attract buyers despite price cuts, while others sell out at listed prices [3]. - The success of China Merchants Shekou in Xi'an is attributed to its transition from "uncertainty" to "certainty," characterized by four dimensions: delivery certainty, quality certainty, price certainty, and service certainty [3][4]. Delivery Certainty - China Merchants Shekou has achieved an average delivery ahead of schedule by 3-6 months, with a delivery satisfaction rate of 98%, positioning itself in a new market segment where timely delivery is critical [3]. Quality Certainty - The quality of delivery remains consistently high across various aspects, ensuring that the actual product matches the demonstration units seen by potential buyers [3]. Price Certainty - The company maintains transparent pricing with a one-price policy, avoiding tactics like low initial pricing or commission incentives, which helps sustain higher market value for its properties [3]. Service Certainty - The ongoing operation of the "Zhaolinh U Community" ensures that the service quality received by homeowners aligns closely with the standards promised at the time of signing [4]. Systematic Capability Over Single Product Success - The sales success of China Merchants Shekou in Xi'an is not due to a single project but rather a systematic capability that spans multiple projects, price ranges, and customer segments [7][9]. - The company has demonstrated its ability to deliver products and services that meet or exceed expectations across various market conditions [9]. Second-Hand Premium: Value Closure - The true test of product strength lies in the second-hand market, where properties from China Merchants Shekou have consistently sold for over 15% more than competing products, indicating sustained value [11]. - The brand's long-standing reputation and consistent quality ensure that properties continue to appreciate over time, maintaining their competitive edge [12]. Conclusion: The Value of Certainty - The consensus among Xi'an homebuyers is that "not buying from China Merchants is not an option," reflecting a collective vote for certainty in the market [14]. - The company's 154-year history and extensive experience in Xi'an have established a strong foundation of trust, making certainty the most valuable resource in the current real estate landscape [15].