A：According to the national data on the area of newly built commercial houses, the growth rate in 2024 is only 7.7%. In addition, the national real estate development investment has been declining for four consecutive years, with a year-on-year decrease of 10% in 2024. This indicates that the growth pace of real estate development is slowing down, and the incremental market dividend is gradually decreasing.

A：Despite the shrinking incremental market space, according to forecasts, it is expected that the total management area nationwide will increase from approximately 33 billion square meters at the end of 2025 to nearly 40 billion square meters by 2030, indicating that the stock development space of the property management industry is still vast. As the industry enters the era of stock development, the competition logic between companies has shifted from relying on developers for funding and pursuing extensive scale expansion to a service-oriented competition logic that focuses on refined operations and improving service quality.

A：The results of the fifth national economic census show that by the end of 2023, the total revenue of property management companies reached 1.7 trillion yuan, exceeding that of the catering and accommodation industry, demonstrating strong development momentum and significant growth potential.

A：The difficulties faced by the industry mainly include the identity crisis caused by the deviation of industry value positioning and the trust crisis caused by the incomplete market mechanism. Specifically, the industry shows weak basic services, low contribution of value-added services, differentiation in societal perceptions of property service value, rigid service pricing mechanisms, intensified market competition leading to decreased service quality and confusion in industry standards, insufficient homeowner participation and weak oversight, among other issues.

A：The first feature is scale consolidation, mainly relying on the quantified expansion of management area to enhance market share. This stage relies on developer resources and policy dividends, but excessive pursuit of scale may lead to operational dilution, loss of control over service quality, and may also result in structural problems such as asset bubbles and high maintenance costs.

A：The second characteristic is mergers and acquisitions, driving large-scale acquisitions and integrations to quickly increase scale and market penetration through financial leverage. However, in the process, there are complex issues such as excessively high acquisition premiums, integration failure rates, and risks of impairment of goodwill. Relying solely on mergers and acquisitions will weaken the company's ability to withstand economic cycles.

A：The third feature is the dependency of property developers on blood transfusions. Traditionally, under the symbiotic model of coexistence between real estate developers and property management companies, the growth of the property sector relies on continuous financial support from developers. However, in a market with limited new development opportunities, the effectiveness of this financial support weakens and even turns into a situation where developers become like vampires, leading to a lack of internal driving force within property companies and causing them to fall into a development deadlock.

A：In the new competitive logic, the focus is on enhancing the value of individual projects by relying on excellent services, strengthening technological empowerment, and creating an internal value model and core competitiveness for enterprises.

A：Core competitiveness lies in service quality and high-quality construction has become a future growth driver, guided by policies. High-quality service can enhance customer loyalty, elevate brand value, and is a key variable for businesses transitioning from low-cost competition to value competition.

A：Enterprises should strengthen service density, achieve high-quality development by increasing the value contribution of individual management units, focus on deepening regional cities and businesses, and explore multi-business overlay and diversified value-added services to increase project marginal revenue.

A：Technology is the core variable for improving service efficiency, especially in the field of basic property services. It has the potential for large-scale application. Enterprises that take the lead in applying technology to property service scenarios will effectively reduce costs and increase efficiency, enhancing industry competitiveness.

A：The industry needs to progress in parallel with policy and market-oriented reforms, building a standardized and transparent market environment, strengthening issue rectification, reconstructing the trust relationship between property owners and enterprises, and promoting the industry towards a stage of benign governance and sustainable development.

A：The central policies highlight the important position of the property management industry, closely linking it with national strategies such as urban renewal, grassroots governance, and livelihood security. It also specifically proposes to implement actions to improve the quality of property services and implement safe management systems for the entire lifecycle of buildings, providing a policy direction for the high-quality development of the industry.

A：Local policies in 2025 will become more refined, specific, and diversified, mainly focusing on three aspects: transparency of craft fees, improvement of service quality, and standardizing the use of maintenance funds. These policies aim to address practical problems in property service implementation and strengthen service quality.

A：Several cities and regions across the country are issuing documents to promote the establishment and improvement of a credit evaluation and management system for property service companies. For example, Beijing has introduced a comprehensive evaluation and management method for residential property service companies, which guides the industry to provide higher quality services through a quantified and comparative evaluation system, and promotes the healthy development of the entire industry from the perspective of enterprise credit evaluation and management systems.

A："Good service" is currently the key to breaking through the deadlock. It not only determines the quality of the house together with the pre-design and construction of the house, but also enhances the value of the house by improving the quality of service. Many property companies have clearly defined the construction of service quality as the foundation of future development strategy, and have practiced and explored from four aspects: refined service, value-added service, intelligent service, and differentiated service.

A：Good service can be summarized as three dimensions: basic services ensure the survival line of assets, such as safety, cleanliness, and stable operation of equipment; value-added services serve as amplifiers of asset value, enhancing customer satisfaction and experience through space operation, equipment management, and life services; distinctive services build competitive barriers by providing professional services that exceed customer expectations or have technological barriers, creating unique core competitiveness.

A：The property management industry of the future should bid farewell to extensive expansion and shift towards long-term thinking, focusing on quality and efficiency priority and meticulous management. By focusing on endogenous value growth and building capacity to resist risks, solid development can be achieved. This requires a return to the essence of service, strengthening basic services, utilizing modern technology to enhance service experiences and efficiency, providing diversified value-added services and specialty services, gradually moving towards a stage of healthy development.

A：Standardization is an important lever for improving basic services and infrastructure. By defining the characteristics and essence of services, standardization makes services tangible and provides a practical and understandable action guide for internal operations within a company. Standardization can effectively improve service efficiency, achieve replicable and consistent good service, eliminate fluctuations in service quality caused by individual differences in understanding. Additionally, standardization is a public commitment made by businesses to customers, helping to establish brand trust and enhance customer experience. Successful standardization requires a holistic mindset, closely integrating it with the overall company strategy, and forming a complete closed loop of setting standards, implementing them, monitoring and evaluating them, continuous improvement, quality enhancement, and brand building. Standardization construction should focus on operability, ensuring that standards are specific, clear, easy to understand, and execute. It emphasizes closing the loop on the ground by training, regular inspections, and strict assessments, to ensure the execution and feedback of the standardization process. Furthermore, it is important to regularly review and optimize standards, continuously iterating and improving them based on customer needs and market changes.

A：Standardization construction should pay attention to operability, ensure that the standards are specific, clear, visible, and measurable; establish a closed-loop mechanism for implementation, strengthen training and supervision assessments, and ensure that standards are effectively implemented; and regularly review and optimize standards to adapt to customer needs and market changes. In addition, in standardization construction, it is important to focus on the owner's perspective, explore hidden service needs, optimize the owner's experience, enhance the use of technology, and improve service efficiency and quality.

A：The technological construction of China's property management industry has gone through three stages: technological enlightenment and initial exploration, technological integration and deep cultivation of scenarios, and technological drive and value reshaping. Currently, although the industry has made some progress in the application of technology, the investment in technological construction is still insufficient, with the proportion of technological construction in leading property enterprises accounting for only about 1.25%, much lower than industries such as retail and logistics. In the future, property enterprises should increase the proportion of technological investment and gradually achieve the goal of reducing costs, increasing efficiency, and improving service value in a step-by-step manner.

A：Property enterprises should shift from tool innovation to scenario application, utilize technology to standardize customer service, facility operation, and space governance, promote the refinement and intelligent development of property services.

A：The critical path includes two dimensions: hardware and software. In terms of hardware, advanced equipment such as robots, smart sensors, and drones are introduced to enhance efficiency and accuracy of frontline services; in terms of software, unnecessary steps are reduced through business process optimization and system restructuring, improving overall management efficiency of the enterprise.

A：At present, property companies can explore technological deepening pathways by strengthening cooperation with technology giants and other industries, such as collaborating with hardware manufacturers, integrating with life service providers, introducing high-quality suppliers to expand the service value network, and upgrading property service experience.

A：In the era of stock development, areas with great development potential include the "property + elderly care" model, benefiting from policy promotion and the trend of an aging society; household services and group dining services also highly match the basic service scenarios of property companies and are future growth points, but require precise service provision tailored to different segmented market demands.

A：First, it is necessary to deeply explore market demand, grasp the shift in demand in the stock market, and establish a trust relationship with the owners, providing satisfactory services by accurately understanding their needs. Secondly, based on a profound exploration of market demand, create or explore a suitable business operation model, selectively expand suitable businesses according to their own characteristics, professional capabilities, and resource advantages, achieving maximum value and innovation in resources.