2025 上半年中国物业管理市场总结&下半年趋势展望 中指研究院 2025-07-07 （一）市场环境：政策规范物业服务市场，平衡各方利益 1. 《人民日报》发文整顿物业乱象，规范服务行为 2025 年 4 月，《人民日报》党建版刊发《整治物业管理乱象，靶向发力》， 报道成都市在物业管理领域开展专项整治行动的情况。报道从查到底、专项治和 建机制三个角度，聚焦物业管理领域乱象，靶向发力，查处腐败案件，健全制度 机制，推动解决一系列群众急难愁盼问题。 物业管理乱象是长期困扰基层治理的主要问题之一，其出现原因主要包括以 下几个方面：其一，部分物业项目存在先天性的结构失衡，其中"建管不分"的 遗留问题尤为突出，由于前期物业管理通常由开发商指定关联物企负责，物业公 司缺乏独立性和中立性，容易偏向开发商利益，在房屋质量、规划变更、设施移 交等问题上难以维护业主权益。其二，当下行业市场透明度仍处在较低水平，物 业企业与业主的信息严重不对称，业主难以清晰了解物业服务成本构成、标准执 行细节、公共收益明细，物业公司则掌握全部信息和资源。其三，监督执行与法 制建设仍然存在不足，监管力量薄弱、执法难，街道、社区一级缺乏专业人员和 ...

证券研究报告 | 行业策略报告 2025 年 07 月 06 日 房地产基本面展望下的大类资产配置变化 ——房地产行业 2025 年度中期投资策略 总量研究/房地产 标的层面，房地产板块关注【招商蛇口】【华润置地】【保利发展】【中国 海外发展】【滨江集团】【绿城中国】【金地集团】【龙湖集团】等，物业 关注【华润万象生活】【保利物业】【绿城服务】【招商积余】等，交易关 注【贝壳】等，另关注产业链及生态链。 q 风险提示：贷款利率下降不及预期，新模式相关政策落地情况与市场预期有 偏差，挂牌量下降进度不及预期，新房去化周期下降不及预期，房地产行业变 化向上下游传导不及预期等。 推荐（维持） 行业规模 | | | 占比% | | --- | --- | --- | | 股票家数（只） | 256 | 5.0 | | 总市值（十亿元） | 2712.5 | 3.0 | | 流通市值（十亿元） | 2565.9 | 3.1 | 行业指数 1、《供求关系发生重大变化，"去库 存"政策或构筑局部"信用底"—— 房地产行业 2024 年中期投资策略》 2024-06-27 2、《行业均衡与主体平衡——房地产 行业 2024 年 ...

多家物业公司掀起" 撤 场潮"，宣布"不干了"！ 近日， 中海物业向鄂州双创之星小区发出撤场公告信，表示公司将于2025年8月31日18:00正式退出项目，结束服务。 公告显示，中海物业自2023年3月1日进驻上述小区，服务期间，小区入住率较低、欠缴物业费户数比例高，导致物业在该小区长期 亏损，且垫资持续增长。 截至2025年1月物业费累积欠费达59.59万元 ，经多方反复沟通仍无法解决欠费问题，最终决定终止服务。 【】 21热点观察室据公开资料不完全梳理，这段时间已有包括龙湖物业、金科服务、中海物业等在内的超10家物业企业发布主动撤场公 告， 原因则涉及开发商历史遗留问题难以解决、谈不拢物业费、收缴率低下，以及物业、业主、业委会矛盾激化等。 对此，网友议论纷纷： 中指研究院发布的数据显示，2024年，中国物业服务百强企业毛利润均值为3.19亿元，同比下降1.34%；净利润均值为7990.71万 元，同比下降4.71%，毛利率和净利率持续下探。 截至7月4日收盘，中海物业市值为181亿港元 据21热点观察室了解，在多重经营压力的倒逼下，多家物业上市公司已密集启动项目撤场动作，与此同时，全国范围内多个住宅小 区 ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [5] Core Insights - The report indicates that the real estate market is still in a destocking trend, with new housing market conditions remaining challenging despite some policy support aimed at stabilizing expectations and promoting recovery [4][32] - The report highlights the importance of strong product capability and inventory management in identifying quality real estate companies for investment [5] Summary by Sections Industry Data - New housing transaction volume in 34 key cities decreased by 0.3% week-on-week, with first and second-tier cities seeing a 2% increase while third and fourth-tier cities experienced a 38% decline [6] - In July, the cumulative transaction volume for new homes in 34 cities dropped by 25% year-on-year, with first and second-tier cities also down by 25% [9][10] - The inventory of new homes in 15 cities decreased by 1% week-on-week, with a current available area of 88.85 million square meters [23] Policy and News Tracking - The Ministry of Housing and Urban-Rural Development emphasized the need for multi-faceted approaches to stabilize expectations and promote recovery in the real estate market [32][33] - Local policies include the expansion of housing provident fund loans in Nanjing and new policies in Hainan and Guangzhou to facilitate housing loans [32][33] Company Dynamics - Vanke has applied for a loan of up to 6.249 billion yuan from Shenzhen Metro Group, marking the sixth loan transaction this year [5] - Poly Developments reported sales of 29 billion yuan, down 31% year-on-year, while China Overseas Development reported 29.7 billion yuan, down 36% [5] - The report recommends focusing on quality real estate companies with strong product capabilities and inventory management, including companies like China Overseas Development and Poly Developments [5]

Core Insights - The eighth Property Management Innovation Development Forum was held in Qingdao, focusing on enhancing service quality and creating harmonious environments, featuring discussions on standardization, legal protection, talent cultivation, and industrial ecology [1][2][4] Group 1: Standardization and Legal Framework - Standardization is emphasized as the foundation for high-quality industry development, with the introduction of national standards such as "Property Management Terminology" and "Customer Satisfaction Assessment" [1] - Legal frameworks are crucial for the sustainable development of the industry, addressing issues like the boundaries of property service companies' responsibilities and compliance management of public benefits [1][2] Group 2: Talent and Technology - Talent is identified as the core engine for innovation, with discussions on the development of a care system for frontline employees and the construction of capability models for property project managers [2] - Technology is transforming property management, with a focus on safety and smart solutions, including the use of drones for fire prevention and AI for elevator safety management [3] Group 3: Industry Collaboration and Ecosystem - The integration of industry resources is vital for the industrialization of property management, with the release of the "2025 Property Management Industry Development Report" outlining key sectors such as parking services and smart property [4][5] - Industry associations play a key role in resource integration and development, showcasing various local initiatives aimed at improving service quality and community engagement [5] Group 4: Community Services and Innovations - The forum highlighted the importance of community services, with presentations on how smart community platforms can enhance efficiency and new supply chain models for agricultural products [6][7] - A dedicated exhibition area showcased over 30 companies, presenting innovative solutions in smart community construction and community retail, resulting in numerous strategic partnerships and exchanges [7]

转自：新华财经 王雷表示，民法典作为"社会生活百科全书"，为物业管理高质量发展提供了基础性法律依据。他围绕业主权利体系与物业企业责任边界展开阐述，他认 为，业主专有权的行使不得危及建筑物的安全，不得损害其他业主的合法权益，不得违背公序良俗；共有权与成员权的法治保障亟待强化；物业企业责任 边界需进一步厘清；物业管理法治化需以产权确认与保护为基础。 中国联通首席数据科学家、联通数据智能有限公司副总经理宋雨伦作《科技赋能新质生产力数智融合创新改变未来生活》主题演讲，深刻阐释人工智能技 术对物业管理行业的影响与未来机遇。他认为，用好的技术给客户提供更好的服务是物业管理行业高质量发展的应有之义。物业管理行业可为人工智能提 供丰富的应用场景，而人工智能则可成为物业服务企业提质增效的利器。 近日，由中国物业管理协会主办的第八届物业管理创新发展论坛在青岛拉开帷幕，1场主论坛+8场平行论坛全面交流物业管理行业高质量发展的思想信 念、发展成果与实践路径。 中国人民大学法学院教授、博士生导师王雷作《民法典五周年与物业管理行业法治化》主题演讲，他结合民法典实施五周年背景，深入剖析物业管理行业 法治化建设的核心问题与未来方向。 中国人 ...

Group 1 - The 2025 China International Property Management Industry Expo opened in Qingdao, focusing on "Improving Service Quality and Creating Harmonious Scenes" [2] - The event attracted property management companies, service providers, and technology suppliers from across the country, showcasing the achievements of the industry and aligning with national housing construction meeting directives [2][3] - The expo is organized by the China Property Management Association, with support from various local property management associations [3] Group 2 - China Overseas Property showcased its "Good Service" system, celebrating its 10th anniversary since listing, with a special exhibition area highlighting its development and innovations [3] - The company presented its subsidiaries, including Hai Na Wan Shang focusing on commercial properties, Xing Hai Wu Lian showcasing smart park technologies, and Hai Bo Engineering excelling in integrated facility management [3] - The company emphasizes its commitment to safety, employee rights, and green development, aiming for high-quality property services and community building [4]

Core Viewpoint - The company, Paislin Digital Technology Co., Ltd., is facing delays in receiving payment for equity transfer related to its transformation away from real estate, with significant amounts still outstanding [1][2][4]. Group 1: Equity Transfer Details - The total equity transfer amount related to the sale of subsidiaries is approximately 1.068 billion yuan, with payments structured in multiple phases [2][3]. - The first payment of 15% (approximately 160 million yuan) has been made, while the remaining payments are scheduled from 2024 to 2028, with each installment being about 182 million yuan [2][3]. - Currently, four installments totaling approximately 728 million yuan remain unpaid, representing 68% of the total transfer amount [2][3]. Group 2: Payment Delays and Reasons - The company has experienced two instances of payment delays, with the most recent delay attributed to the underperformance of the buyer, Changchun Economic Development State-owned Assets Holding Group [4][5]. - The buyer has committed to making the overdue payments by December 31, 2025, citing challenges in cash flow and external financing [4][5]. - Previous delays occurred in 2024, where approximately 172 million yuan was overdue, but the buyer eventually made the payment [5][6]. Group 3: Impact on Business Operations - The company asserts that the delays in receiving the equity transfer payments will not significantly impact its core business in intelligent manufacturing, as the two business segments operate independently [7][8]. - The company has indicated that the transformation away from real estate is aimed at improving asset liquidity and financial structure [6][7]. Group 4: Shareholding Changes - The buyer, Changchun Economic Development State-owned Assets Holding Group, significantly reduced its shareholding in Paislin from 5.54% to 0.63% by the end of 2024, raising questions about the potential link between the share reduction and payment delays [8][9]. - The company has stated that it is unclear if the share reduction is related to the payment issues, emphasizing that the buyer's financial needs are not directly connected to the equity transfer payments [9].

Core Insights - Beijing Financial Street First David Property Management Co., Ltd. has been awarded the "2025 Property Service Demonstration Base" honor for its Financial Street Center project by the Beijing Zhongzhi Information Technology Research Institute [1][3] Group 1: Project Overview - The Financial Street Center is located at No. 9 Financial Street, Xicheng District, featuring a prominent geographical position and convenient transportation [3] - The project has expanded from two towers and one podium to three towers, increasing the managed area from over 90,000 square meters to 140,000 square meters [3] - The center is a single-owner property, self-owned and leased, primarily serving well-known financial institutions [3] - The Financial Street Center has received multiple honors, including "Two-Star Green Building Certification" and "Beijing Property Management Demonstration Building Five-Star" [3] Group 2: Service Features - The company adheres to a management philosophy of "scientific and standardized management, dedicated and efficient service, safe and environmentally friendly environment, pursuit of occupational health, and continuous improvement" [4][5] - The company aims to achieve its mission of "serving owners, developing enterprises, achieving employees, and giving back to society" [4][5] - The company has strategically introduced market-leading technologies such as the IoT cloud smart property integrated management platform to enhance its core advantages in high-end business services [4][10] Group 3: Innovation Highlights - The Financial Street Center focuses on providing satisfactory, thoughtful, and prompt services while exploring new property management models [5] - Unique VIP reception services are offered, including bilingual explanations to meet diverse customer needs [5] - The center aims to create a comfortable and safe working environment, ensuring a high-quality business experience for clients [5] Group 4: Company Background - Beijing Financial Street First David Property Management Co., Ltd. was established in June 2002 with a registered capital of 15 million yuan [10] - The company is a leading business property operator in China and holds a first-class property management qualification [10] - It is recognized as a AAA-rated credit enterprise and a model management unit for property management at various levels [10]

2025.07. 04 本文字数：2393，阅读时长大约4分钟 作者 | 第一财经 郑娜 业主与物业公司，谁也离不开谁，但却总是矛盾重重。随着业主自治意识的不断觉醒，他们针对物业 服务透明化、物业管理规范化以及收费合理化等问题不断提出疑问，并在不少社区里探索出更加多样 的物业收费方式。 近期，广州一小区就在尝试落地信托制物业服务模式，借此实现物业费收支透明，避免物业服务质量 与收费标准不匹配而引发的矛盾纠纷。同期，重庆一小区则在尝试引入"弹性定价"模式，即业主根 据自身需求，自主选择服务项目，减少不必要的支出，掌握物业服务选择权和定价权。 业内认为，当前物业行业已进入价值重构与服务升级的关键阶段。上述两种物业管理模式都在一定程 度上回应了业主对透明化服务的需求，有助于物业服务在价格与服务质量方面实现平衡，推动质价相 符的实现。 给服务定价 为了破解近年来物管行业出现收费难、服务差等困局，业内各方都在持续探索破局之法。近来，广州 一小区就正在尝试推进一场变革，将信托制物业服务模式引入花城。 这一名为华南新城的大型小区拥有2万多常住人口，并有约20年的历史。过往采用的包干制物业模式 使得小区也难以避免地出现了小区 ...