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cailianshe news, september 1 (reporter wang bin)at a press conference held by the state council information office recently, the ministry of housing and urban-rural development officially announced that it would study and establish a system of housing physical examination, housing pension, and housing insurance, and build a long-term mechanism for housing safety management throughout the life cycle. currently, 22 cities including shanghai are piloting the system. influenced by this, the concept of "housing inspection" in a-shares attracted market attention last week.

cailianshe reporter learned that before the pilot of the "housing physical examination" system, the housing inspection industry was already booming, and many a-share listed companies had already made arrangements, but the current revenue share is relatively small. the industry generally believes that before the establishment of public accounts, the biggest constraint on the housing inspection industry is funding. it is believed that with policy support in the future, the demand for stock housing inspection is expected to be released steadily.

a market worth hundreds of billions of yuan is questioned for its "huge profits"

according to the general principles of civil building design, the design service life of ordinary buildings is generally 50 years (or more). data shows that by the end of 2022, nearly 20% of existing houses in my country's cities and towns were built more than 30 years ago, and it is estimated that by around 2040, nearly 80% of the houses will enter "old age".

a research institute recently estimated that the market space for existing housing inspection will be approximately 48.91 billion yuan in 2024, and is expected to increase year by year. by 2035, the space for existing housing inspection is expected to reach 152.5 billion yuan.

according to huachuang testing (300012.sz) recently stated on the shenzhen stock exchange interactive platform, house inspection mainly includes foundation inspection, house main structure and internal and external decoration inspection, steel structure inspection, building materials and component testing, building energy conservation and intelligent inspection, fire inspection, civil air defense project inspection, and automated deformation monitoring of existing buildings.

lu xihong, general manager of shanghai tongji testing technology co., ltd. (tongji testing), a subsidiary of tongji technology (600846.sh), told cailianshe reporters that the entry threshold of the housing testing industry is relatively high, and the qualifications required include housing quality testing qualifications issued by the housing management department, engineering testing qualifications (such as jiangsu province), architectural design qualifications, and cma and cnas testing qualifications. generally speaking, qualifications, technical level, corporate background, industry status and other conditions are the key factors considered by the bidding unit.

cailianshe reporters learned that high fees and uneven testing levels have become the biggest complaints of consumers about house testing, and online people even call house testing a "profiteering" industry. it is reported that the comprehensive unit price of house safety appraisal is generally calculated based on area, ranging from tens to hundreds of yuan per square meter, and there is also a "minimum consumption" requirement, that is, the starting price is not less than 10,000 yuan.

how to balance market prices and social acceptance has become a must-answer question for the housing inspection industry. in other words, the price of housing inspection services in the future should not be too expensive, while at the same time providing quality inspection results.

lu xihong said that the charges for house inspections are mainly based on a comprehensive quotation based on the inspection type, house area and inspection difficulty. currently, there is no unified guidance price for house inspections across the country. inspection agencies mainly provide quotations based on their own level and the level of business volume.

“although some places have guidance prices, they cannot be strictly enforced at present.for example, the guide price for housing safety inspection in shanghai is 22 yuan/㎡, and it is good to get 50% off now.. the market environment in shanghai is relatively good. in the north and southwest, the price of housing safety inspection is around 1 yuan per square meter. "an industry insider who did not want to be named told cailianshe reporters.

in lu xihong's view, in the future, housing inspection can be benchmarked against the "centralized procurement" system for medicines, achieving price-for-volume exchange and keeping the housing inspection industry slightly profitable. "the government can share the personnel and equipment costs of inspection agencies through large-scale bidding in the area. the price can be lower, but it cannot be too high and result in a low bid. disorderly competition and industry involution will eventually lead to the inability to guarantee the quality of inspections."

housing inspection development has encountered a "bottleneck", and many listed companies have already made arrangements

it is reported that housing inspection is one of the sub-areas of engineering inspection. many listed companies such as china national inspection group (603060.sh), china testing and design research institute (300732.sz) all told cailianshe reporters that the current housing inspection business accounts for a small proportion of the company's revenue, and the growth of the housing inspection business has been relatively stable in the past. however, judging from the financial data, the housing inspection market seems to have encountered a "bottleneck" in the past two years.

on august 27, the national inspection group issued an announcement on stock trading changes, saying that after verification, the company has 12 member units involved in housing inspection and appraisal business. in 2023, the company's engineering inspection revenue from existing housing inspection and appraisal business accounted for about 4% of the company's overall revenue, which is a relatively small proportion of revenue. given that the detailed standards for housing inspection and appraisal policies in various regions are not yet clear, the company's revenue structure will not change significantly in the short term.

financial data shows that in 2023, the national inspection group achieved a revenue of about 2.66 billion yuan. based on this calculation, the company's housing inspection and appraisal business revenue last year was about 100 million yuan. "the company's engineering inspection gross profit margin is around 40%, and it can reach 50% at high times. this is mainly due to the company's gradual transformation to light assets such as appraisal, consulting, and inspection. if it is a (company) that only does inspection business, the gross profit margin may be a little lower." a person from the securities department of the national inspection group told a reporter from cailianshe.

coincidentally, on august 27, donghua testing (300354.sz) stated on the investor interaction platform that the company focuses on the research of structural mechanics properties, and its products can be applied to the online monitoring and health management of structural safety of bridges, houses, tunnels, slopes, dams, port machinery, mechanical equipment, power facilities and weapons and equipment.

huace testing also stated on the investor interaction platform that housing inspection is the core business of huace's construction engineering business, and the current development trend of this part of the business is good. "the company has been engaged in housing inspection business, and has also increased its investment in technology in the past two years. currently, more than a dozen subsidiaries have qualifications in this area. limited by qualification requirements, the concentration of housing inspection is relatively dispersed, and it is estimated that the market share of leading companies in the industry is about 1%-2%. after the housing pension system is implemented, it is expected to have a positive driving effect on housing inspection." a person related to huace testing told a reporter from cailianshe.

cailianshe reporters noticed that in the field of house inspection, which is a field of strong demand, in addition to the above-mentioned old "players", other listed companies have also entered this field in the past two years.

in august 2023, huajian group (600629.sh) announced that it planned to acquire 100% equity of shanghai housing quality inspection station co., ltd. (hereinafter referred to as "housing inspection station") for rmb 108 million. at that time, huajian group said that after the transaction was completed, the housing inspection station would contribute good main revenue and stable profit growth to huajian group.

the announcement shows that after the audit, the housing inspection station achieved revenue and net profit of 66.3538 million yuan and 2.8995 million yuan respectively in 2022; in the first four months of this year, the company's revenue and net profit were 48.6037 million yuan and 3.5694 million yuan.

in july this year, tongji technology announced that it plans to acquire 55% of tongji testing's equity for rmb 166 million to facilitate the company's rapid entry into the engineering testing business. the official website shows that tongji testing's business scope covers engineering structure and material testing and evaluation related to construction project quality, among which housing testing and appraisal projects include safety testing and appraisal, pre-renovation testing, dangerous building appraisal, and post-disaster building damage appraisal.

in terms of financial data, in 2023, tongji testing achieved revenue and net profit of 322 million yuan and -11.2901 million yuan respectively; in the first quarter of this year, the company achieved revenue of 19.4743 million yuan and a net profit of -10.0312 million yuan.

lu xihong revealed that the company's orders on hand have increased slightly this year, and the current business volume is relatively well matched with the company's personnel, equipment, and testing capabilities. "after the epidemic, the overall environment has declined. we are building a closed industrial chain from house inspection, house appraisal, house monitoring to house repair and renovation to provide customers with one-stop services."