Core Viewpoint - The delivery of residential properties remains a crucial task for the real estate market in 2025, with a notable decline in delivery volumes compared to the previous year, indicating a shift in focus for companies from "guaranteeing delivery" to seeking development opportunities [1][9]. Delivery Performance - In the first half of 2025, 55 real estate companies delivered over 500,000 units, with 15 companies delivering more than 10,000 units each [1]. - Major companies like Greenland Group, Sunac China, and Jianye Group saw delivery declines exceeding 50% compared to the same period last year [1]. - The top three companies in terms of delivery volume were Country Garden (75,000 units), Poly Developments (65,000 units), and China Overseas Property (42,155 units), with the top ten companies accounting for 56.46% of total deliveries [2][1]. Industry Trends - The pressure to ensure delivery is easing as the peak delivery period has passed, allowing companies to shift their focus towards development and operational strategies [1][9]. - Companies like Country Garden and Sunac China are actively working on completing their delivery commitments while also restructuring their financing to align with current market conditions [3][4]. Innovations in Delivery - Some companies have begun implementing innovative delivery methods, such as "delivery and certificate issuance" on-site, enhancing customer experience and operational efficiency [10]. - The focus on improving delivery quality includes better communication with homeowners and offering personalized services during the delivery process [10]. Strategic Shifts - The industry is witnessing a strategic shift where companies are prioritizing product quality, operational efficiency, and asset management over mere scale [11][12]. - Companies are categorizing their strategies into three main types: product-focused, light-asset models, and asset operation, reflecting a more nuanced approach to market challenges [11].

在"好房子"建设成为国家推动住房高质量发展核心抓手的当下，房企交付力正经历前所未有的严格审 视。 2025年年中，龙湖集团交出了一份引人关注的成绩单：依托其"以新交心"智善交付体系交付近4万套品 质房源，高端产品线"云河颂"实现全国多地首度交付，"御湖境"产品系持续稳定兑现，第三方调研显示 整体交付满意度达90%以上。 从规模、产品、品质、体系展开作答，这份答卷，不仅关乎一家企业的经营表现，更折射出行业在品质 兑现与服务升级路径上的探索与思考。 "好房子"政策深化，交付力成行业分水岭 自2023年以来，住房和城乡建设部等部委持续强调，要将"好房子"理念贯穿住房开发建设全过程，切实 提升居住品质和群众满意度。政策导向清晰表明，能否在交付环节兑现承诺、赢得口碑，已成为衡量房 企综合实力与责任担当的关键标尺。 龙湖"以新交心"智善交付体系图谱 "以新交心"智善交付体系，同样对应当下数字化、线上化、高效便捷需求的体验。在交付过程中，龙湖 的业主可以体验到无需线下排队填写资料、直接线上办理交房手续的便利性，并基于政策的支持在全国 多个城市实现"交房即交证"。 业内人士分析认为，龙湖提出的"以新交心"智善交付体系，其价值 ...

Core Viewpoint - The construction of "good houses" is accelerating in China, with the implementation of national standards and a shift in focus from large and expensive houses to quality and affordable housing solutions [3][4][5]. Group 1: Implementation of Standards - The national standard "Residential Project Specification" was fully implemented on May 1, marking the beginning of the "standardization" era for "good houses" [4]. - The Ministry of Housing and Urban-Rural Development emphasized that "good houses" should not be equated with "large houses" or "expensive houses," but should focus on quality design, materials, construction, and services to address living issues [4][9]. - The standards aim to enhance housing quality across various regions, sizes, and price points, ensuring that different types of "good houses" are available [4][9]. Group 2: Market Dynamics - The increase in land supply for "good houses" is evident, with cities like Beijing and Hangzhou actively promoting the sale of land designated for quality housing projects [6][7]. - In May, Beijing's land auction saw a focus on encouraging refined design and higher quality residential projects, reflecting a broader trend of extending "good house" standards to suburban areas [6][7]. - The demand for improved housing is expected to stimulate the real estate market, with policies supporting the construction of "good houses" likely to be further refined [5][9]. Group 3: Corporate Initiatives - Several major real estate companies, including Longfor Group, China Overseas Property, and COFCO Joy City, have committed to developing "good houses" to meet diverse housing needs [7][8]. - COFCO Joy City is establishing a "Good House Laboratory" to innovate and test products that align with user demands, focusing on health and smart living solutions [8][9]. - The industry is moving towards a closed-loop logic of "research - standards - implementation," which is crucial for the successful rollout of "good houses" [9].

Group 1 - The core viewpoint of the articles highlights Longfor Group's financial performance in 2024, showcasing a revenue of RMB 127.47 billion and a net profit attributable to shareholders of RMB 10.401 billion, with a core profit of RMB 6.97 billion after adjustments [1][2] - The operating and service business revenue reached RMB 26.71 billion, reflecting a year-on-year growth of 7.4%, with a gross profit margin of 16.0% [1] - The company achieved contract sales of RMB 101.1 billion, with over 90% of sales coming from first- and second-tier cities, and a collection rate exceeding 100% [1] Group 2 - Longfor Group has been focusing on high-tier cities, delivering approximately 100,000 quality housing units across 43 cities in the past year, achieving a customer satisfaction rate of 90% [2] - As of December 31, 2024, the company's total land reserves amounted to 33.12 million square meters, with an average cost of RMB 4,304 per square meter [2] - The land reserves are distributed across various regions, with the Bohai Rim, Western, Central China, Yangtze River Delta, and Southern regions accounting for 34.6%, 27.6%, 15.0%, 13.9%, and 8.9% of the total area, respectively [2]