1、 China2023 KPMG China Leading PropTech 50DisclaimerThe information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity or represent a full statement of KPMG on the short-listed companies.We have not performed any audit or re

2、view procedures on the information provided by them.The information contained herein does not constitute any professional advice or service,and no one should rely on any information contained herein as,or allow it to affect,his/her sole basis for decision-making.Individuals or entities should seek p

3、rofessional advice before making any decision or taking any action.The information contained herein is provided as it was received.KPMG does not provide any representation or assurance,whether express or implied,on any such information.All company profiles have been provided by the short-listed comp

4、anies themselves.KPMG does not provide any assurance on the accuracy of such information.In addition to the foregoing,KPMG does not provide any assurance that the information contained herein is accurate or meets any specific performance or quality standards.KPMG expressly disclaims any implied assu

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6、m any use made of such information.KPMG accepts no responsibility for any loss or damage related to any use made of this document and/or any part of it,including but not limited to any special,indirect,incidental,consequential or punitive damages or other liabilities.If any part of this disclaimer i

7、s invalid or unenforceable for any reason,the remainder should retain its full force.KPMG China has offices located in 31 cities with over 15,000 partners and staff,in Beijing,Changchun,Changsha,Chengdu,Chongqing,Dalian,Dongguan,Foshan,Fuzhou,Guangzhou,Haikou,Hangzhou,Hefei,Jinan,Nanjing,Nantong,Nin

8、gbo,Qingdao,Shanghai,Shenyang,Shenzhen,Suzhou,Taiyuan,Tianjin,Wuhan,Wuxi,Xiamen,Xian,Zhengzhou,Hong Kong SAR and Macau SAR.Working collaboratively across all these offices,KPMG China can deploy experienced professionals efficiently,wherever our client is located.KPMG is a global organization of inde

9、pendent professional services firms providing Audit,Tax and Advisory services.KPMG is the brand under which the member firms of KPMG International Limited(“KPMG International”)operate and provide professional services.“KPMG”is used to refer to individual member firms within the KPMG organization or

10、to one or more member firms collectively.KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world.Each KPMG firm is a legally distinct and separate entity and describes itself as such.Each KPMG member firm is responsib

11、le for its own obligations and liabilities.KPMG International Limited is a private English company limited by guarantee.KPMG International Limited and its related entities do not provide services to clients.In 1992,KPMG became the first international accounting network to be granted a joint venture

12、license in the Chinese Mainland.KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership,as of 1 August 2012.Additionally,the Hong Kong SAR firm can trace its origins to 1945.This early commitment to this market,together with

13、 an unwavering focus on quality,has been the foundation for accumulated industry experience,and is reflected in KPMGs appointment for multidisciplinary services(including audit,tax and advisory)by some of Chinas most prestigious companies.2023 KPMG Huazhen LLP,a Peoples Republic of China partnership

14、 and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.ForewordKPMG Chinas Future 50 Ranking SeriesKPMG Chinas Leading PropTech 50 OverviewKey PropTech Trends in China

15、List of enterprisesContact us0Contents 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.1

16、 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50ForewordFor the

17、 real estate sector,the era of land-generated benefits is drawing to a close,and real estate enterprises are increasingly embracing a paradigm shift in which they need to rely on effective management to drive success.In this new era,industry players are expected to identify opportunity amid change,f

18、orge ahead amid adjustments,and strike a judicious balance between growth and deleveraging.At the same time,they are expected to pursue development against a backdrop of concentration and differentiation,and harness transformative innovation to cultivate organic,sustainable growth.With the governmen

19、t focusing on promoting high-quality development,the technology+industry model has matured,and new technologies are being applied in more and more real estate scenarios,delivering improvements,savings and efficiency gains for real estate companies across investment,construction,marketing,operations,

20、exit and other business processes.With innovation becoming the engine for growth,technology will gradually become a core part of real estate developers strategies,helping them navigate changes and find success in this new era.As a professional services organisation with deep roots in the real estate

21、 sector,KPMG has always been committed to driving PropTech innovation and development and helping businesses respond to and move in sync with trends.By organising this selection,we hope to work together with industry leaders to get a clear picture of what lies ahead for the PropTech industry and ide

22、ntify areas where players can concentrate their efforts,so as to open up a new chapter for Chinas economy and real estate sector.2023 marks the third year in which KPMG China has held the PropTech 50 selection.The past three years have been challenging for the real estate and construction sector.As

23、the market has slowed,the industry has been facing growing financing pressure while undergoing significant structural adjustments,resulting in major changes in the market landscape.Now,industry players are adopting a two-pronged approach under which they are pursuing incremental growth while also st

24、rengthening existing activities,and they are turning their attention to the benefits of real estate lifecycle management.In this process,PropTech will undoubtedly play a significant role in enabling businesses to effectively identify and respond to the needs of internal and external stakeholders,red

25、uce costs,raise efficiency and identify risks on a timely and forward-looking basis.In the past three years,remarkable advances have been made in the development and application of computer technology,with artificial intelligence(AI)being the most eye-catching.In the future,AI-based technologies in

26、different areas will continue to converge into a more comprehensive ecosystem.As these technologies become integrated with industry data resources and vertical business scenarios,industry-specific solutions will emerge.We remain steadfast in our belief that the PropTech journey is a long-term one.As

27、 industry players deeply transform their business models amid current adjustments and continue to improve their data awareness,PropTech will play a greater role in driving the industrialisation,digitalisation,and smart,green transformation of traditional industries such as real estate and constructi

28、on.Michael Jiang Head of Markets KPMG ChinaJacy LiHead of Real Estate and Building Construction KPMG China2023 KPMG China Leading PropTech 502 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KP

29、MG International Limited,a private English company limited by guarantee.All rights reserved.During interviews for this years PropTech 50,we have heard strong feelings about the impact of the real estate sectors downturn on PropTech companies.Their incomes have declined and so have their profit margi

30、ns.Their receivables are becoming uncollectible,and IPOs are increasingly out of reach.In this context,we have seen technology companies demonstrating their resourcefulness in various ways to survive against all odds.For example,some are focusing on doing business with state-owned enterprises and lo

31、cal government investment vehicles,some are applying their technology to new scenarios as part of their effort to move into other industries,and some are exploring new overseas markets.In addition,state-owned enterprises and developers are also transforming their IT departments into technology compa

32、nies,which are being launched as businesses one after another.As there are no quick solutions to the problems facing the real estate sector,PropTech companies that fail to respond to industry trends in a timely manner may soon meet their demise,and technology companies affiliated with state-owned de

33、velopers that are working on their commercial launch need to absorb and develop technologies to strengthen themselves.In the years ahead,we expect to see the PropTech industry become more integrated,closing the chapter on the sectors past fragmentation.With the slowdown of Chinas real estate sector,

34、PropTech companies are also facing transformational challenges as they move from focusing on providing technological support for real estate developers to applying their technologies in scenarios including commercial properties,industrial park projects and urban services.In this years selection,we h

35、ave been pleased to see a more diverse range of PropTech use cases,more agile solutions and greater efficiency.In the past year,although the PropTech industry has slowed due to the real estate sector downturn,industry players have been forging ahead with their informatisation and AI projects,and the

36、ir sustained R&D investments will pay off in the long run.In line with national policies,localisation has recently become a hotspot in technology investment.In the PropTech industry,many unique companies have emerged in the areas of construction design software,construction equipment manufacturing,a

37、nd operations management platforms.Localisation is becoming a reality in PropTech.In the next few years,Chinese companies are expected to gradually replace foreign property technologies with locally developed ones on a larger scale.While we have seen great strides in this sector,Chinese PropTech com

38、panies also have their weaknesses.For example,they have developed few innovations on their own and are not well-equipped to explore the international market,hindering their global ambitions.Compared with their global peers,Chinese PropTech companies have a competitive edge in terms of cost.If they a

39、re motivated to build their global footprint in the future,they will be a presence to be reckoned with in the international market.PropTech companies are traversing a period of change that presents both challenges and opportunities,and we hope that they will emerge from these difficulties more resil

40、ient and more committed to innovation.We are confident that,by working hard and forging ahead steadily,they will expand their share in the international market and deepen the adoption of PropTech.George WongHead of Real Estate and Building Construction Southern Region KPMG ChinaSusana GaoHead of Rea

41、l Estate and Building Construction Northern Region KPMG China3 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All righ

42、ts reserved.2023 KPMG China Leading PropTech 50Driven by the COVID-19 pandemic,the global real estate sector has undergone a rapid digital transformation.In the wake of the pandemic,the adoption of technology in the real estate sector has continued to grow rapidly,resulting in significant changes in

43、 how transactions are conducted,properties are managed and experiences are improved.Technology has become a powerful tool to promote innovation and has introduced various changes to the real estate sector landscape,ushering in an era characterised by efficiency,transparency and innovation.In respons

44、e to the sustainability imperative,green technologies and practices have been widely implemented in the real estate sector.High efficiency buildings,renewable energy solutions,and intelligent systems for building and energy management are capturing peoples attention.Significant technological advance

45、s such as smart grids,solar panels and automation systems are contributing towards carbon footprint reduction,resource conservation,optimised energy consumption,cost savings,shortened project timelines,safety and quality improvements,and eco-friendly living spaces that align with environmental pract

46、ices.In the post-pandemic era,technology has become a gamechanger in the real estate sector,and players in the real estate market have embraced technology as a catalyst for innovation and growth.Going forward,real estate professionals should continue to leverage technology to find success amid the e

47、volving market landscape.By doing so,enterprises in this important sector will jointly open up new opportunities,promote sustainable growth and deliver more value for all stakeholders.For the real estate sector,2023 has been a year of changes and challenges.What is clear is that the“size-first”appro

48、ach is no longer tenable.Across the real estate sector,companies are endeavouring to be sound,asking themselves what their original aspirations were,and pursuing high-quality development.While enterprises solutions may be different,the underlying theme is that digital and intelligent technologies ha

49、ve injected confidence into industry players that are struggling amid a sluggish economic environment.In the real estate industry,digital technologies represented by data,AI and building information modelling(BIM)are being adopted more than ever before across various business scenarios.Enterprises h

50、ave realised that data will be a crucial aspect of production and that data governance is the first step towards being able to use data assets in a meaningful way.By building an effective base of data assets,enterprises can harness AI technologies that are autonomous,interactive and intelligent to i

51、mprove quality and efficiency and deliver value for the sector.As a tool that leverages real estate-related data,BIM technology is exclusive to the industry,and when enhanced with various emerging technologies,it will boost the reshaping of the industry landscape.While various PropTech companies con

52、tinue to develop their own digital products and services,we are also pleased to see increasingly frequent collaboration between real estate enterprises.In the current era,collaboration is not only key to the real estate sectors effort to integrate resources,leverage advantages and meet challenges,bu

53、t also a response to the call for smart spaces,smart homes and a smart future.As the catchphrase for the 2023 PropTech 50 selection,“Joining Hands for the Future”is also our expectation for the development of PropTech.In the years ahead,we look forward to working alongside our industry partners to c

54、reate a better future for the real estate sector.Alan YauHead of Real Estate and Building Construction Hong Kong SAR KPMG ChinaMark LiuDirector,CIO Advisory KPMG China2023 KPMG China Leading PropTech 504 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG glob

55、al organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.KPMG China“Future 50”Ranking SeriesBusiness markets are just like arenas,and industries the race tracks on them.KPMG Chinas Future 50 ranking serie

56、s,which cover industries such as finance,automotive,biotechnology,retail,chips,healthcare,property technology,government,and energy,have been released to serve as a lighthouse to help enterprises make strategic development decisions based on where they are in their respective life cycles,and enable

57、industries and investors to identify the enterprises on the rise.We have also put forward the Future 50 Tracks concept to continuously explore competitive opportunities for enterprises.Since KPMG launched its Future 50 ranking series,we have been striving to create and maintain a professional and fa

58、ir platform to help extend various industry networks internally and externally for greater overall values of the industry ecosystems.In our selection process for these rankings,KPMG assembles a selection committee consisting of internal and external experts,which is tasked with assessing enterprises

59、 in an open,just and fair manner from multiple perspectives,such as teams,technology,products,markets,and financing.Going forward,we hope that KPMGs Future 50 ranking series will generate more opportunities for enterprises,support industry innovation and reform,and provide insights on future industr

60、y trends.5 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50Overv

61、iewIntroduction to KPMG Chinas Leading PropTech 50Scope of participating enterprisesThe types of enterprises that are eligible to participate include:Enterprises that meet one of the above-mentioned criteria and that have been operating for at least nine months in the following fields are eligible t

62、o participate:Enterprises and start-ups pursuing PropTech innovation PropTech companies exploring the innovative application of technology in real estate products and servicesEnterprises that use innovative technology to engage in real estate construction and operations management or provide other r

63、elated servicesProject investment decision-making and industrial dataReal estate sale and lease transactionsProject lifecycle management(including engineering advisory,construction and process management,etc.)Environmental,social and governance(ESG)/SustainabilityIndustrial digital products or servi

64、ce solutionsInnovation of construction techniques and designAsset management operations and services(for residences,offices,commercial spaces,logistics,hotels,cultural tourism,parks,etc.)Real estate digital marketing and membership managementAs the focus of Chinas economic development shifts from sp

65、eed to quality,the digital economy is emerging as a new engine of the countrys high-quality economic development.The presence of digital technologiesfrom big data,cloud computing,and Internet of Things(IoT)to AI and the Metaverseis being felt everywhere,profoundly changing ecosystems and competitive

66、 landscapes across various industries.The real estate sector,which is undergoing a critical period of transformation,is no exception.Industry giants who embarked on digital transformations several years ago are pushing forward with process reengineering,resource integration and business restructurin

67、g across the building lifecycle as they integrate digital technologies into various industry chains and business scenarios.Enterprises are attaching greater importance to synergy-generating business models that enable connectivity across the whole value chain covering investment,design,construction

68、and operations,while also cultivating interconnected industry chains and effective,sustainable industry ecosystems.Value creation has become a key goal of enterprises digital transformations,and digitalisation has become a springboard for the transformation of the real estate sector.Against this bac

69、kdrop,industry stakeholders are actively exploring new opportunities for high-quality development,and digital technology is leading the real estate sector into a new stage of efficiency and sustainability.As digital transformation advances,the real estate sector is being regenerated.In the past year

70、,many PropTech companies have made impressive strides and garnered market attention.Although the industry still faces challenges,many real estate enterprises are forging ahead with resolve,searching for certainty and opportunity amid changes and challenges.KPMG China is now publishing the 2023 PropT

71、ech 50 report,which marks the third instalment in the series since its launch in 2021.Special thanks to Hong Kong PropTech Association to collaborate with KPMG China to tap into Hong Kong-based PropTech start-ups.2023 KPMG China Leading PropTech 506 2023 KPMG Huazhen LLP,a Peoples Republic of China

72、partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.KPMG has developed its proprietary Startup Insights Platform(SIP),which we leveragein combination wit

73、h the above core dimensionsto quantitatively assess businesses from multiple dimensions,such as team,technology,product,market and financing.Note:The KPMG China Leading PropTech 50 selection is for the purposes of drawing attention to technological innovations in the real estate industry,promoting i

74、ndustry exchanges,and driving the development of PropTech in line with regulations.It does not assess the compliance and investability of the assessees.During the selection process,we did not interpret any regulatory policies.Selection methodologyCommencement of registration and primary selection Do

75、cumentation review and corporate interviewsDiscussion and evaluation by the committee Announcement of the resultsDesktop researchField interviewsExpert interviewsData analysisCore assessment dimensions.Innovations in technologies and business models.Degree of market recognition and development poten

76、tial of subsectors.Degree of capital market recognition and contribution to societySelection committeeThe selection committee includes multiple KPMG partners and industry experts.Selection processThe judges interviewed and surveyed candidate enterprises on-site to obtain first-hand information in a

77、comprehensive and detailed manner and ensure the objectivity,fairness and rigour of the selection process.The PropTech selection team obtained an overview of the industry ecosystem based on the firms long-term monitoring of the real estate sector.The selection team conducted field visits to the cand

78、idate enterprises and interviewed their founders and senior management teams.We interviewed industry insiders,such as senior management of industry-leading enterprises,industry experts,and investors focusing on the real estate sector,to gather their knowledge and insights on the sector and its subse

79、ctors.We performed evaluations with reference to our proprietary Startup Insights Platform(SIP).Financial health and growth .Corporate governance and innovation mechanisms.Transformation and empowerment of the traditional real estate industry7 2023 KPMG Huazhen LLP,a Peoples Republic of China partne

80、rship and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50Note:The companies are listed by alphabet sequence.Distribution of enter

81、prises in KPMG Chinas Leading PropTech 50 by core businessInnovation of construction techniques and designProject investment decision-making and industrial dataIndustrial digital products or service solutionsReal estate sale and lease transactionsAsset management operations and servicesEnvironmental

82、,social and governance(ESG)/SustainabilityReal estate digital marketing and membership managementProject lifecycle management2023 KPMG China Leading PropTech 508 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firm

83、s affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.Analysis of Enterprises in KPMG Chinas Leading PropTech 50Distribution by core business Distribution by regionEnterprises engaging in asset management,operations and services(for residences

84、,parks,offices,hotels,logistics parks,etc.)account for the largest share of this years list at 38%,followed by construction technique and design enterprises,which account for 30%.Enterprises that specialise in project lifecycle management ranks third,accounting for 10%.Half of the companies on the l

85、ist are based in Shanghai and Shenzhen;and there are four companies from Beijing,Hangzhou and Hong Kong SAR each.The shortlisted companies are distributed across fifteen cities.Notably,this years list includes one registered in Munich but serving clients in Chinese Mainland and Hong Kong SAR,signali

86、ng greater geographical diversity.FoshanLuoyangMunichZhengzhouZhuhaiYangpu(Hainan)XiamenShanghaiChangshaGuangzhouWuhanShenzhenHangzhouBeijingHong Kong SAR114411Asset management operations and servicesInnovation of construction techniques and designProject lifecycle managementIndustrial di

87、gital products or service solutionsEnvironmental,social and governance(ESG)/SustainabilityProject investment decision-making and industrial dataReal estate sale and lease transactionsReal estate digital marketing and membership management2%2%6%6%38%10%6%30%9 2023 KPMG Huazhen LLP,a Peoples Republic

88、of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50Distribution by years in operation Distribution by compan

89、y/team size On this years list,enterprises that have been in operation for less than 3 years accounted for 24%,a significant increase from 10%in the previous year.Although the proportion is still less than 30%,this jump is a reminder that despite significant adjustments in industry development,there

90、 are still opportunities in the technology market for the property sector.If technology enterprises can seize opportunities in the changing market and evolve in sync with the sector,young technology enterprises can also gain access to opportunities even amid the overall industry downturn.74%of the e

91、nterprises on the 2023 list have headcounts of fewer than 300,slightly higher than 72%in the previous year.As a result of the downward trend across the real estate sector,technology enterprises have had limited opportunities to expand and are focusing on strengthening their operational resilience,re

92、ducing costs and raising efficiency.In addition,some enterprises on the list mainly engage in business activities with strong regional attributes and are in no hurry to expand as market concentration is low,which explains their small team sizes.5-10 yearsMore than 10 years3-5 years2-3 yearsFewer tha

93、n 2 years12%12%12%36%28%100-300 peopleFewer than 100 people500-1,000 people300-500 peopleMore than 1,000 people10%10%6%36%38%2023 KPMG China Leading PropTech 5010 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member fir

94、ms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.Distribution by proportion of technical personnelDistribution by series of financing 80%of the enterprises on this years list have headcounts that consist of more than 40%technical personn

95、el,up 12 percentage points over last year.In addition,the share of enterprises with headcounts comprised of more than 80%technical personnel rose to 14%from 10%last year.In the context of the overall transformation of the real estate sector,technology enterprises are finding it significantly more di

96、fficult to sell their products,and market participants across various segments are iterating their products in an effort to deliver excellence and drive revenue growth.Against this backdrop,technicians are working on products to help real estate enterprises drive value creation during the industry t

97、ransition.As a result of these efforts,technology enterprises will be able to weather the downward cycle and position themselves well for future development.On this years list,17%of the enterprises are in series C or subsequent rounds of financing,down from 24%last year.Many of the shortlisted compa

98、nies achieved solid valuations this year,but there have tended to be longer intervals between financing rounds,as investors are more cautious amid challenges and uncertainties in the overall environment.They are looking into prospective targets in greater detail,resulting in prolonged financing roun

99、ds.20%-40%40%-60%60%-80%80%or aboveLess than 20%14%30%10%10%36%Series C and beyondSeries BSeed and angel financingSeries ANo financing26%6%36%17%15%11 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliate

100、dwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50PropTech Trends and Outlook 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member fir

101、ms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 5012 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliated

102、with KPMG International Limited,a private English company limited by guarantee.All rights reserved.In recent years,the government has issued a number of data-related policy guidelines to accelerate the development of data assets.In February 2023,the Central Committee of the Communist Party of China

103、and the State Council issued the Overall Layout Plan for the Construction of a Digital China,which includes plans for building a Digital China based on a 2-5-2-2 framework that will enable connectivity across digital infrastructure and facilitate the flow of data resources.Data has become a new engi

104、ne for Chinas high-quality development.In March 2023,the National Data Bureau was inaugurated,which will accelerate the countrys effort to convert data into assets.As a result of these initiatives,a prototypal digital resource system is gradually emerging.In August 2023,the Ministry of Finance issue

105、d the Interim Provisions on Accounting for Corporate Data Resources,which will come into effect on 1 January 2024.This set of guidelines includes provisions on data resources that are recognised as assets(intangible assets or inventories),as well as provisions on transactions of data resources that

106、are legally owned or controlled by an enterprise that are expected to bring economic benefits to the enterprise but that do not meet the conditions for recognition as assets,and other relevant matters.These policies have laid the foundation for the continued transition of data into assets.The first

107、step in moving data assets onto the balance sheet is to take stock of corporate data assets,which means prioritising data governance.In recent years,as data application scenarios have grown,real estate and construction enterprises have derived significant benefits from turning data into assets.Drive

108、n by factors such as the benefits of data application and policy incentives,enterprises are increasingly looking to convert data into assets.However,due to the current market environment,a large number of enterprises are taking a wait-and-see approach.We believe that enterprises will be motivated by

109、 the policy that allows them to move data assets onto the balance sheet,and we expect that they will be encouraged to generate value from data by enhancing the way they apply it.By actively identifying customer needs and conducting specific analyses to sort out and label relevant data resources,real

110、 estate and construction enterprises can move data resources that were previously included in expenses to R&D expenses that are eligible for capitalisation.During our visits this year,we discovered that certain leading PropTech companies have realised the value of moving data assets onto the balance

111、 sheet.They are also actively considering how to use their own data analytics to provide support for clients in this area,and exploring the possibility of data marketisation and data transactions in specific scenarios.For example,these enterprises can cooperate with government-owned enterprises to p

112、rovide government data analytics services,conduct commercial centre or market environment analyses,and deliver other statistical packages after data desensitisation.The expanding data governance needs of real estate enterprises are presenting more opportunities for PropTech companies with data capab

113、ilities.These latter companies can start by improving their data governance service capabilities,and then build out their data lifecycle service capabilities based on an end-to-end model.We are aware that PropTech companies are still facing many challenges in this area,mainly in respect of measuring

114、 the value of data assets and establishing the rights to data assets as they move such assets onto the balance sheet.In addition,these enterprises are grappling with the lack of well-established criteria and specifications in this area,as well as a lack of data awareness,qualifications and historica

115、l success cases,among other issues.In general,few data categories related to real estate and construction are available on the market.In order to accelerate the transition of data assets onto the balance sheet,we believe that data awareness needs to be further improved across the industry,and compan

116、ies should sufficiently prepare data in advance.Through data governance,enterprises can accumulate data assets,enhance their data foundation and improve data quality.Specifically,data governance mainly includes the following steps:1.Adopt unified data standards across the enterprise to ensure data i

117、ntegrity,consistency and alignment with specifications;2.Define accountability and authorities and the main responsible department for various kinds of data;3.Exploit the value of data,convert data into assets,and enable operational and management decisions through analysis and application of data.I

118、n addition,data governance involves organisational systems,data systems,master data management,a system of data standards,data quality management,metadata management and data models;and therefore,it is a long-term,complex and systematic project.To find success,industry players need to take data more

119、 seriously,strengthen their professionals data awareness and qualifications,and work together to promote data governance.1Real estate enterprises demand for data governance is steadily growing.In the era of digital assets,PropTech companies should seize opportunities to promote the digitalisation of

120、 the industry13 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50

121、In recent years,as a result of changes in the economy,the industry environment and demographics,Chinas urbanisation has gradually slowed and entered a new stage in which efforts are focused on upgrading urban infrastructure.In terms of real estate sector digitalisation,companies are shifting towards

122、 deepening the development of existing assets.At the same time,with consumption upgrading,space users demands for real estate projects are increasingly diversified and personalised.In order to meet their expectations,operators need to pay more attention to streamlining and refining operations than e

123、ver before and comprehensively optimise services and resource allocation to add more value to services.Amid the industry downturn,we have observed that many real estate enterprises have gradually shifted away from an asset-heavy model under which they held and operated assets to an asset-light model

124、 under which they provide management and operational services.Specifically,the asset-light model is supported by branding,asset securitisation and complementary value-added services.In order to achieve stable development and expansion under this model,enterprises need to improve their core competiti

125、veness through digitalisation,improve quality and efficiency,and make full use of intelligent and digital technology to streamline and refine operations and management.In this way,they can generate sustainable income and pursue growth while reducing operating costs.In 2023,breakthroughs in AI techno

126、logy have brought new growth drivers to various industries.In particular,the concept of the AI agent has attracted significant attention recently.As an intelligent system that assists humans,an AI agent can scan the environment,make decisions and execute actions.For example,AI agents can provide acc

127、urate decision-making support for real estate operations and management,optimise resource allocation,and improve user experience,risk predictions and warnings,significantly enhancing companies ability to streamline and refine real estate operations.However,as AI agent technology is still in the deve

128、lopmental stage,we understand that,in their current research on AI,PropTech companies are mainly focusing on computer vision,natural language processing(NLP),data mining and other areas.They have not gone so far as to introduce AI agent technology.In this years survey,many enterprises are taking a p

129、ositive attitude towards deepening their use of AI,especially AI agents,in the real estate sector;and they believe that the development of innovative technology will accelerate in the future.In this context,PropTech companies must be quick to learn and apply emerging technologies.AI agents can play

130、a role in a diverse range of scenarios that will help streamline and refine operations in the real estate sector;and going forward,these use cases will be gradually deepened and expanded.We believe that,in respect of applying AI agents,companies should start with more mature areas such as property m

131、anagement and commercial offices,as in these areas they can rely on their own product structure,experience and capabilities;and then expand to integrated scenarios such as healthcare management,tourism management,industrial parks and urban renewal.In this way,the application of AI agents can be expa

132、nded both horizontally and vertically.In property management,companies can provide users with personalised recommendations to improve their living experience;in commercial offices,they can monitor a buildings energy consumption and provide advice on how to drive energy savings;and in healthcare mana

133、gement,AI agents can provide personalised guidance on rehabilitation and health management based on users health status and needs.In tourism management,they can provide customised experiences for tourists;and in industrial parks,they can monitor the status of equipment across the park,alert users to

134、 risks and assist managers in taking emergency measures when needed.In terms of urban renewal,AI agents can perform analyses and forecasts of urban facility operations,resource allocation and scheduling,and respond to emergencies.AI agents promote scenarios for streamlining and refining real estate

135、operations22023 KPMG China Leading PropTech 50In addition,AI agents will also have a significant impact on design and construction,as well as other areas of the construction industry.Technology-and talent-intensive design segments will be the first to be affected.AI agents can automate the design pr

136、ocess,optimise design features,and generate automatic drawings and models,effectively improving per capita output.Combining BIM and AI will become a trend in the industry,and more mature and intelligent building design algorithms and models will be generated based on the rich building data made avai

137、lable by BIM.In addition,AI agents that are highly autonomous,intelligent and interactive will be widely used in cost control,construction progress monitoring and quality control,energy conservation,emissions reduction and construction safety.For example,AI agents can analyse and process large amoun

138、ts of data,understand data patterns specific to the construction industry,and assist in formulating better cost budgets and control schemes.They can simulate and analyse building structures to predict their strength and stability,analyse the correlation between construction progress and quality,and

139、provide suggestions and guidance based on the results.Moreover,AI agents can monitor temperature,humidity,noise and other factors on construction sites,and help workers take measures to ensure their safety.As AI agents are applied to reduce costs and drive safety and quality control,3D positive desi

140、gn based on BIM is expected to transform traditional production models across the industry as the popularity of prefabricated buildings grows.AI is becoming the next cutting-edge area for the PropTech sector.Against this backdrop,PropTech companies need to embrace emerging technologies and accelerat

141、e the iteration and upgrading of their own products;and they should consider combining AI agents with existing technologies or developing their own product lines centred around AI agents to harness and integrate various technologies.14 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership an

142、d a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.15 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation

143、of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50Promoting the use of building information modelling(BIM)in an integrated manner throughout the lifecycle of new buildings is an

144、important starting point for the digital transformation of the construction industry.Two main trends have emerged from the BIM-related policies issued by Chinese regulators in recent years:First,general policies outlining directions are being replaced by specific guidelines,such as detailed national

145、 standards;and second,BIM that was previously used in design and construction is being integrated and applied across the building lifecycle.Under this guidance,provinces and cities are actively promoting the application of BIM in the construction industry chain,while also promoting industrial housin

146、g,prefabricated buildings and smart technology.In June 2023,the General Office of the Shenzhen Municipal Peoples Government issued the Action Plan for Building Shenzhen into a Digital Twin Pioneer City(2023),which includes a clear proposal to build a unified and fully managed BIM platform in the cit

147、y.This represents an unprecedented development in the integrated application of BIM and will effectively support the Digital Cities and Digital China strategies.In addition,as increasing importance is being attached to BIM,the ISO 19650 Building Information Modelling standard is being recognised and

148、 promoted among Chinese government institutions and enterprises,accelerating the digital transformation of the construction industry.As new technologies,needs and realities emerge,construction enterprises can adopt a development and transformation model that is centred around BIM and that integrates

149、 big data,AI,IoT,cloud computing and other emerging information technologies.With such a platform,enterprises can continuously expand and deepen their operations across the industry chain,and enable synergies and optimisations across different stages,including planning,design,construction,operations

150、 and maintenance.For example,at the planning stage,BIM-based data integration capabilities and simulation analysis functionalities can provide a more comprehensive basis for informed decision-making;and in the design phase,3D visual building models can be used to help better understand design scheme

151、s,improve design quality and efficiency,and reduce errors and reworking.In the construction phase,a BIM+smart building model can be used to engage in real-time monitoring and data analysis,which will assist on-site workers in carrying out high-precision and uninterrupted construction activities.Thes

152、e advances will enable enterprises to conduct production process management in a more visual,intelligent and refined manner.In the operations and maintenance phase,BIMs advantages in space management,information management,equipment maintenance management,energy consumption management and public saf

153、ety management can be used to raise building management efficiency,reduce operational and maintenance costs,and optimise overall building performance.Based on our observations,many Chinese PropTech companies that are committed to technological optimisation and upgrading have been expending more effo

154、rt to develop their own proprietary BIM-based applications for the real estate lifecycle,with a view to getting rid of their dependence on imported European and American BIM software.At the same time,many leading Chinese real estate developers have made gradual but detailed plans for smart buildings

155、 and are continuing to expand their investment in BIM applications.In terms of the development and application of BIM technology platforms,real estate enterprises can mainly be divided into two categories:those in the first category are promoting such projects at the company level,and their BIM appl

156、ications have gradually covered the full building lifecycle,including planning,design,construction,operations and maintenance,resulting in a more mature smart building system;those in the second category are focusing on applying BIM on a small scale at the design and construction stages and are carr

157、ying out pilot projects that are expected to be gradually extended to tendering and procurement,delivery,operations and maintenance,and other stages in the future.We are standing at a crossroads in the development of the digital economy.Although the widespread application of BIM faces many challenge

158、s,such as obstacles in value transmission,inconsistent quality standards,poor synergy across the ecosystem,and shortage of interdisciplinary talent,industry players agree that BIM represents the path forward for the development of digital capabilities in the construction sector and marks the advent

159、of a digital era for the industry.With continued national and local policy support and growing maturity in domestic R&D,BIM will continue to be integrated with big data,AI,IoT and other emerging technologies to enable more intelligent,efficient and refined building management and operation.Based on

160、these advances,the construction industry will move into a development stage that is characterised by high quality and efficiency.3Integrating emerging technologies with BIM to support the construction industrys transition towards quality and efficiency2023 KPMG China Leading PropTech 5016 2023 KPMG

161、Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.4Since President Xi Jinping put forward the 30/60 carbon stra

162、tegy in September 2020,its implementation has had a comprehensive and profound impact on economic and social development.In January 2022,the national 14th Five-Year Plan for the construction industry was released,which established a basic principle of“pursuing innovation-driven,green development”to

163、reduce material consumption,energy consumption and carbon emissions during construction and promote sustainability.Local housing and urban and rural construction management committees have also issued corresponding implementation guidelines and regular green building development reports.These organi

164、sations are playing an active role in promoting the high-quality development of the construction industry.In recent years,“carbon management”has also been appearing increasingly often on construction engineers and real estate operators daily agendas.According to the 2017 Global Status report issued

165、by the United Nations Environment Programme(UNEP),by 2030,74%of carbon emissions associated with new construction projects will come from their embodied carbon,while 26%will come from their operational carbon.In 2020,energy consumption and carbon emissions resulting from all building processes accou

166、nted for 45.5%and 50.9%of Chinas energy consumption and carbon emissions,respectively.In 2019,China issued the Criteria for Building Carbon Emissions Calculation,which defined the calculation method for buildings embodied carbon and operational carbon.Since April 2022,a carbon emissions calculation

167、report for new buildings needs to be submitted for review during the drawing review phase.At the same time,globally,many other countries and regions have also issued standards or guidance documents on the calculation of buildings carbon emissions to strengthen the requirements for carbon emissions d

168、ata calculation,collection and baseline establishment.In addition,real estate operators are also seeing more and more tenants expressing concerns over carbon emissions as they lease space or make significant acquisitions,and energy consumption management capabilities are having a direct impact on le

169、asing and purchasing decisions.During our visits this year,we found that more and more real estate operators and corporate real estate owners are carrying out energy consumption management for their buildings,and their energy management needs are growing.A relatively large number of technology enter

170、prises are providing such services.They are scattered geographically and have obvious regional characteristics,and no dominant leader has emerged in the field.At any rate,energy consumption management has become a standard offering for real estate space management service and technology providers.AI

171、OT devices are being widely used to engage in data acquisition and monitoring for spaces,adding a human touch and more flexibility to the energy consumption model and supporting smarter and timelier decision-making for energy consumption management.These real estate operators and service providers h

172、ave basically automated the generation and capture of data related to water,electricity,energy consumption,equipment operating efficiency and tenants,resulting in greater accuracy.Ongoing efforts to equip existing buildings with intelligent technologies will present more opportunities for such enter

173、prises.We have also noted that only some real estate operators regularly disclose their buildings energy consumption-related indicators(Scope I and II and/or Scope III).Ensuring the completeness and accuracy of the extensive data collected is still a challenge for real estate operators in preparing

174、high-quality ESG reports.In particular,Scope III disclosures have become a focus of their efforts in the medium and long term.At the same time,the carbon inventory and carbon emissions tracking modules that are available in the real estate market are still in their infancy.Though many of the surveye

175、d technology enterprises may develop such modules in the future,mature solutions have not yet been established.With the promulgation of IFRS S1 and S2 and the revisions by the Stock Exchange of Hong Kong Limited to the climate disclosure rules under the ESG framework,we expect domestic capital marke

176、t regulators to align relevant disclosure requirements with these changes.Going forward,PropTech companies will be able to diversify their ESG reporting service offerings in line with more stringent framework guidance.Building materials and energy technologies will promote the development of“ultra-l

177、ow,near-zero,and zero”energy-consuming buildings,and IoT systems for space environments and energy consumption monitoring will be more widely used17 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedw

178、ith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50In the future,the global economy will depend on energy technologies instead of energy resources.In the context of carbon neutrality,China will basically complete the l

179、ow-carbon transition by 2060.Industry players are accelerating their efforts to explore new systems for near-zero energy-consuming and zero-carbon buildings.New materials,including green concrete,curtain wall materials and thermal insulation,are being developed and tested.For example,relevant regula

180、tions issued by the Shanghai government on the management of ultra-low energy consuming building projects have provided clear guidance for real estate builders and operators in respect of green buildings.They need to comprehensively consider how to combine clean energy and building materials at the

181、design stage,so as to enable full-lifecycle green building management covering design,construction and operation.We believe that as“ultra-low,near-zero,and zero”energy-consuming buildings thrive,and in light of the upcoming embodied carbon standards and ongoing innovation in energy storage technolog

182、y,PropTech companies should focus on building a deeper layer of operational data and developing extensive data mining capabilities for energy consumption management.With these tools,they will be better positioned to drive energy conservation and help space users improve their ESG performance,and the

183、reby expand their market share.2023 KPMG China Leading PropTech 5018 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.Al

184、l rights reserved.5The real estate sector basically features two marketing models:the business-to-business(B2B)model adopted by companies engaged in infrastructure,industrial parks and commercial real estate,and the business-to-consumer(B2C)model adopted by real estate companies and for-rent apartme

185、nt operators.As the real estate sector enters an era characterised by a focus on existing assets,we have discovered that many real estate enterprises are encountering difficulties in their effort to improve their market penetration amid sluggish conditions.Although customer centricity has long been

186、a hot topic in the industry,real estate enterprises are still beset by many problems in this area,such as an unvaried approach to marketing,unrefined operations,low customer loyalty and inaccurately identified customer value.To some extent,these issues have hindered their ability to exploit customer

187、 value and their efforts to establish their own brand image.Obviously,casting a wide net is no longer an appropriate customer acquisition approach for the current industry cycle.We believe that in terms of customer management,in the future,PropTech companies should focus on the following two areas:1

188、.carrying out targeted marketing based on reliable data,and 2.refining operations around existing customers to continuously generate value.Digital technologies will play an essential role in both these areas.Under the B2B model,digital marketing is mainly used to identify prospective customers.By ex

189、tensively integrating market information for processing and analysis,companies can target prospective customers who may want to construct,invest in or use real estate.They can make plans and engage with these customers early in order to gain a first-mover advantage in the market.We believe that comp

190、anies should engage in marketing as early as possible to stimulate customer demand.Under the B2C model,the role of digital marketing is mainly to add variety to marketing scenarios and improve marketing effectiveness.Real estate enterprises that engage in residential housing and for-rent apartments

191、can invest in new media channels such as vertical network platforms,We Media and social media,and use the Internet as a marketing tool to reach a wider audience,establish their corporate image,and extend their brand impact.Meanwhile,using data analytics,AI and other technologies,businesses can gain

192、better access to resources for marketing purposes and make their marketing efforts more targeted to improve conversion rates.Amid ongoing industry transformation and market reform,customer-centric digital marketing and customer operations capabilities will help enterprises improve customer loyaltyIn

193、 terms of operations under the B2B model,it is essential to collect complete and accurate multi-dimensional customer information.Companies adopting this model should focus on risk management and customer retention.In respect of risk management,enterprises can perform“internal assessment and external

194、 inquiries”to dynamically update customer risk grades,while relying on digital tools to enhance and support corresponding responses.For customer retention,digital tools are mainly used to develop customised plans that can be implemented in a script-or task-based manner to normalise customer retentio

195、n efforts and establish long-term relationships with customers.In terms of operations under the B2C model,real estate players can borrow the“private domain traffic pool”concept from Internet and e-commerce companies to accurately identify customer needs,promote traffic-driven marketing,and establish

196、 channels for more frequent and deeper interactions with customers.By doing so,they can develop a new system for“customer acquisition,management and retention”to drive conversion and improve customer loyalty.Customer data plays a crucial role in both digital marketing and refined operations.We belie

197、ve that helping real estate enterprises effectively use customer data to develop scenarios for intelligent analysis is the first step PropTech companies can take in customer management.Based on our survey and visits,in addition to traditional digital customer management offerings,many PropTech compa

198、nies have also been innovative in using their own data resources to supplement and improve enterprises customer data to help them stand out from competitors,build a unified,standardised system for customer data across multiple business segments,and promote intelligent customer profiling and labellin

199、g.In terms of digital marketing,companies adopting the B2C model can learn from other industries.It is worth noting that leading real estate enterprises and commercial real estate operators have worked with PropTech companies to actively apply various technologies in this area.Meanwhile,for companie

200、s using the B2B model,digital marketing is still in the blue ocean stage.PropTech companies can consider combining“industrial space profiling”with“customer profiling”and adopt AI technology to engage in smart customer profiling and labelling.In this way,they can drive innovation based on real estate

201、 enterprises own customer resources and help them identify solutions to problems such as scattered customer resources and low customer loyalty.19 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith

202、 KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50With the growing maturity of real estate investment trusts(REITs)and other models,the“investment,construction,management and exit”lifecycle for real estate has gradually

203、become more comprehensive,and a closed loop system for“big asset management”has begun to take shape for the real estate sector.Currently,real estate operators are mainly focusing on enhancing asset value,whether they have adopted an asset-light or asset-heavy model.Under the asset-light model,value

204、is mainly sourced from management fees and operating income,while businesses under the asset-heavy model mainly depend on sales,rent and asset appreciation.As the industry enters an era characterised by a focus on existing assets,companies are eyeing assets that can grow in value and generate high-q

205、uality cash flows.In recent years,PropTech has been gaining momentum.Across each stage of the real estate lifecycle,there are scenarios in which technologies can be integrated with business activities;and we have recently seen significant advances in the degree of specialisation and potential ceilin

206、g in each stage.By mastering one stage,enterprises can gain a competitive edge and establish a stronger position in this dynamic market.Investment:Digitally empowering traditional decision-making to improve the accuracy and efficiency of investment decisionsWith the increasing penetration of PropTec

207、h,digital technologies such as geographic information systems(GIS)and AI are gradually being used to enable data integration and automatic analysis and help real estate operators refine,standardise and digitalise pre-investment management.GIS technology is capable of dynamically monitoring and integ

208、rating data regarding policies,demographics,points of interest(POI)and areas of interest(AOI),urban commercial centres,road networks,etc.and providing reliable data sources for subsequent evaluation and indicator analysis.Harnessing these capabilities,enterprises can automatically generate economic

209、and technical indicators(such as gross profit margin,internal rate of return,etc.),arrive at preliminarily estimates of profitability,and analyse indicators.During our visits,we saw that many PropTech companies realise the potential of investment tools.However,in order to achieve results in this are

210、a,they need to master GIS technology and gain an understanding of the specifics of different investment scenarios.To this end,we recommend that they work together with owners.Digital and intelligent technologies continue to empower asset operators.In the future,the gap between their core abilities t

211、o improve asset value will expand,although the general upper limit on their abilities will be raisedConstruction:Using the“BIM+smart construction site”model to form a closed loop for integrated project construction management In combination with IoT,AI,5G,virtual reality(VR)and other technologies,BI

212、M can deliver benefits across a series of digital scenariosincluding simulated construction schemes,virtual progress monitoring,smart site layout and completed building modelsto improve project quality and ensure project progress.By integrating software and hardware,smart construction sites can enab

213、le the digital management of on-site workers,machinery,materials,site environments and construction processes.This also represents an important way for real estate enterprises to promote ESG.In our visits in recent years,we have found that existing BIM and smart construction site solutions are accep

214、table,and each provider has its own unique advantages.However,as the adoption of ESG practices deepens in the real estate sector,PropTech companies that take the initiative to make breakthroughs in on-site environment and energy consumption monitoring and other ESG indicators are more likely to succ

215、eed in this segment.Management:Deploying digital technologies to build links between customer bases,spaces and contractsAs a core aspect of asset management,how to leverage operational strategies to achieve a higher rate of return is gradually becoming the best indicator of an enterprises brand powe

216、r and sustainability capabilities.The essence of real estate operations lies in well-coordinated relationships between customer bases,spaces and contracts.At the customer base-space relationship level,operators can create digital spaces by implementing smart office services,energy billing systems,en

217、vironmental monitoring systems and other products to improve customer satisfaction.At the space-contract relationship level,they can establish a comprehensive platform for real estate operations to cultivate digital connectivity between assets and income-generating contracts.This can help real estat

218、e enterprises monitor their asset utilisation rates and vacancy rates in real time,record various operating costs in a timely manner,and visually and dynamically display the gap between the status of current operations and operating objectives.At the customer base-contract relationship level,PropTec

219、h companies should strive to convert customer research data accumulated in the operations process into assets,and use these assets to build customer profiles.In this way,they can help enterprises quickly ascertain market changes and also provide guidance on value mining 62023 KPMG China Leading Prop

220、Tech 5020 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.and customised product design.We have see

221、n that the current offerings of real estate operators already meet the basic needs in day-to-day management.In this context,PropTech companies can develop operational indicator analysis capabilities that are data-driven and intelligent to improve their competitiveness.Exit:Digital tools are enabling

222、 REIT lifecycle managementAs a way to smooth the real estate investment and financing cycle,public REITs have attracted significant attention from market participants since the pilot programme was introduced,and the market for multi-layer REITs is being actively explored.These efforts will further p

223、romote the development of Chinas asset-backed security(ABS)market.Managers of various REIT products can use digital tools to integrate project databases,asset management models and forecast models to help identify potential REIT projects,proactively manage and simulate asset evaluation prices,develo

224、p REIT issuance plans,and conduct lifecycle management for issued REIT assets.Developing a REIT asset evaluation and management system can help real estate enterprises and product managers manage potential REIT assets at different stages in a coordinated manner,establish target asset pools and issue

225、d asset pools by category or project,monitor milestones in project construction and operation,produce project financial summaries,analyse business performance,build models for cash flow calculations,and improve asset quality in a targeted manner to meet REIT issuance requirements.At the same time,ma

226、nagers can leverage AI and big data as core digital analysis technologies to further identify and analyse key factors that affect asset value and REIT product prices,in order to plan the issuance timeline and drive proactive management throughout the REIT lifecycle.Currently,PropTech companies do no

227、t consider REITs to be major targets due to their strong financial attributes,high safety requirements,relatively unvaried investor structures and small circulation scale.We believe that ongoing efforts to build a multi-layer domestic REIT marketespecially the establishment of private REITswill furt

228、her encourage REIT managers to expand their assets under management and promote digital transformation around day-to-day management,information disclosure and long-term value enhancement for REITs.In particular,market participants should identify links between factors impacting asset value and day-t

229、o-day asset management indicators,so as to conduct multi-scenario simulation analysis.This is likely to be a good starting point for PropTech companies looking to access REIT scenarios.21 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation

230、of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50In the past three years,national strategies such as Eastern Data&Western Computing and Digital China have been accelerated,and C

231、hinese enterprises across all industries have stepped up their transformation efforts.In this context,the demand for SaaS services has increased significantly,ushering in a golden age for the domestic SaaS market.According to data from the International Data Corporation(IDC),Chinas SaaS market is ex

232、pected to grow from RMB 27.2 billion in 2019 to RMB 92.6 billion in 2023,representing a compound annual growth rate of approximately 34.1%.Of this amount,real estate SaaS products account for RMB 7.5 billion in 2023,up 50%year-on-year.In this years and last years surveys,we found that the real estat

233、e sectors recognition of and demand for SaaS services are still increasing.Ongoing economic turbulence has returned the rapidly growing real estate sector to a more rational orientation,and real estate and construction companies have become more manufacturing-and service-oriented.They are focusing o

234、n premium projects and technological upgrading across the industry,driving quality and efficiency improvements,attaching importance to engagement with users,pursuing business based on existing customers,establishing their brand reputations,and improving user experience.Industry players are streamlin

235、ing and refining their operations around existing real estate,spaces and services to generate value and drive growth.In terms of market demand for SaaS,we have observed a number of changes.First,large real estate and construction groups have a growing demand for SaaS products due to their decreasing

236、 number of technicians.They hope to use the low cost,asset-light model and other advantages to meet their day-to-day production needs,and they are more cautious in making decisions about whether to purchase management software for large enterprises such as enterprise resource planning(ERP)systems.Th

237、erefore,SaaS service providers are continuing to deepen their research on industry characteristics,drive customisation,and provide more professional and scalable solutions.Some vendors have begun to dismantle standard SaaS infrastructure and develop low-code products in order to provide various cust

238、omised products and services for enterprises.Second,SaaS service providers have proactively expanded their markets horizontally.Some SaaS product/service providers that focus on doing business with real estate groups have begun to gradually expand their market reach to non-residential enterprises su

239、ch as local government investment vehicles and companies that are engaged in industrial production and infrastructure,so as to reduce the adverse impact of upheavals in the industry on corporate development.Third,SaaS service providers have strengthened their cooperation with industry leaders to cre

240、ate landmark projects,deliver a greater brand impact,and accelerate marketing efforts.Fourth,they are expanding partnerships across the ecosystem and enhancing their ties with leading Internet companies to capitalise on the latters technological and channel advantages.Owner enterprises are also expe

241、cting SaaS service providers to extend their SaaS-centred digital services to provide owner enterprises with end-to-end services covering business advisory,planning,implementation and operation.In this context,SaaS service providers should strengthen their capabilities in these areas or enhance coop

242、eration with businesses with relevant experience.In terms of construction,we believe that open and advanced underlying technological infrastructure,and deep insights into and understanding of the industry,will be the key to development for SaaS service providers.By building unified technical infrast

243、ructure and capabilities,deepening technical advantages,and iterating technologies,they can develop a sound technological base+flexible offerings to efficiently meet different customers needs for non-standard services and products.Inter-segment competition between SaaS service providers in the real

244、estate sector is fierce,and leading tech companies can quickly incubate solutions based on their technological strengths and resources.However,the real estate sector itself has many segments and complex business activities.Therefore,in addition to enabling refined management,SaaS services need to be

245、 deeply integrated with all business activities across the industry chain,and SaaS service providers need to gain deeper insight into the industry.By driving improvements in the two above-mentioned areas,they can further enrich their product matrix,cover more management and business scenarios,and ex

246、tend SaaS services across the value chain.In terms of product types,we have also observed that SaaS service providers are responding more actively to industry players needs,and are deepening SaaS products/service development from the four perspectives of helping businesses increase revenue,reduce co

247、sts,improve quality and control riskswith a focus on customer management,supply chain management,asset management and project construction.In terms of enterprise management,Industry players are returning to their original aspirations,and the software-as-a-service(SaaS)market is broad and steadily en

248、riching its offerings72023 KPMG China Leading PropTech 5022 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights

249、reserved.products such as digital customer relationship management platforms(including smart marketing,smart customer service,investment attraction,digital twin,3D,AI-generated content(AIGC),etc.),digital centralised purchase platforms,and project management platforms(covering production,quality,cos

250、ts and risks)have become keys to building standardised core data capabilities and engaging in refined,comprehensive business management.In terms of construction and production,service providers are stepping up R&D investment in digital-construction-based products and services that can be integrated

251、with BIM,AI,IoT,digital twin and other technologies.In marketing,which is relatively digitally mature,use cases related to smart publicity,smart channels,smart sales offices and smart transactions can deliver effective solutions to industry pain points,such as low on-site conversion rates and limite

252、d sales channels;and these solutions can be combined with customer acquisition products to build a closed loop for digital marketing that covers all relevant scenarios.At the same time,the application of AI and large language models(LLMs)will lead to smarter customer relationship management(CRM)prod

253、ucts.Operational transformation will drive the development of solutions in areas such as smart property management,smart buildings,asset operations and management,and investment attraction platforms.On the whole,changes in the industry are presenting both challenges and opportunities.To succeed in t

254、his broad market,SaaS service providers need to build unique competitive advantages,embrace changes and strengthen partnerships to help drive the high-quality development of the real estate sector.23 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global o

255、rganisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50In the past year,we have seen emerging intelligent technologies,as represented by generative AI,digital humans and d

256、igital twin technology,give rise to a range of impressive applications in real estate operations and management.These developments are not only profoundly changing traditional operating models and driving deeper digitalisation across the industry,but are also bringing new work and life experiences t

257、o managers,users and residents.This shift is a good example of how smart technologies can enable better living.In this years survey,we noticed that many enterprises are attaching greater importance to“human-centred”design and operational elements when adopting digital applications.At the same time,t

258、hey are actively exploring the application of these emerging technologies in community operations,property management,urban renewal and related areas,with a view to developing core competitive advantages in customer service experience.More and more high-end residential communities and commercial com

259、plexes are integrating generative AI with cloud computing,edge computing,terminal hardware and high-precision algorithms and applying it to security,property management,community services and other areas.These efforts can significantly enhance security management and service quality while also downs

260、izing security and property teams.For example,cameras enabled with intelligent technologies can automatically scan and monitor public places in the community to identify abnormal behaviour and dangers,improve safety on the premises,and enhance the property managers ability to prevent risks.In additi

261、on,by combining intelligent technologies that detect environmental temperature and humidity with cloud computing and big data technology,property managers can engage in intelligent energy management to reduce energy consumption and costs and provide users with a better experience.Meanwhile,by collec

262、ting and analysing data in the course of property management,property managers can gain an understanding of the habits,interests and needs of users and residents.With this knowledge,they can proactively provide personalised community services.In addition,tools that integrate generative AI with digit

263、al humans are ideally suited for The deepening integration of intelligent technologiestypified by generative AIwith property operations has become a hot spot in the industry,driving gradual improvements in service experiencecustomer services in property operations.Such solutions can be fully integra

264、ted with various connected terminals to deliver a more user-friendly,intelligent and convenient service experience and enable property managers to respond on a 24/7 basis.Digital twin technology has also brought significant efficiency gains to property operations management and project marketing.Thi

265、s technology can be used to simulate the project operations and management process,and possible changes to buildings,equipment,the environment and other elements;and it can assist property managers in day-to-day operations,maintenance and management based on the simulation results.For example,the de

266、ployment and installation of facilities and equipment can be optimised by simulating the daylighting,ventilation and energy consumption of buildings,among other metrics.In case of emergencies in buildings,digital twin technology can simulate possible developments and emergency plans to provide guida

267、nce for rescuers.In project marketing scenarios,solutions that combine digital twin technology with virtual reality and augmented reality technology can provide an immersive experience for prospective customers,and enable online and offline marketing and display,including simulating interior decorat

268、ions and views of the outdoors.These capabilities can significantly improve an enterprises brand image and sales efficiency.In a word,new technologies can be applied across a wide range of scenarios in the real estate sector to drive innovation and development.Of course,certain challenges and proble

269、ms need to be solved in areas such as privacy,security,costs and data security.However,with ongoing advances in intelligent technologies and a widening range of application scenarios,we are confident that these smart tools will be widely adopted in the future,providing a range of development opportu

270、nities for the PropTech industry.82023 KPMG China Leading PropTech 5024 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee

271、.All rights reserved.Albacastor Technology LimitedUnre(Shanghai)Information Technology Co.,Ltd.Peace Inc.,Beijing Haixinyu Urban Renewal Group Co.,Ltd.Beijing Building Technology Consulting Co.,LtdBeijing Zhongtou Chuangzhan Technology Co.,Ltd.Blue Pin(HK)Limited Persagy Science and Technology Co.,L

272、td.InVix(Shanghai)Information Technology Co.,Ltd.Dayta AI Limited Third Dimension(Henan)Software Technology Co.,LtdFoshan New Infrastructure Technology Co.,Ltd.YUETRON DIGTECHSmart Construction CloudZWSOFT CO.,LTD.(Guangzhou)Hunan Googol Robot Co.,LtdHainan Elmleaf Information Technology Co.,Ltd.Han

273、gzhou LinHui Network Technology Co.,Ltd.Hangzhou Newgrand Technology Co.,Ltd.I2COOL LIMITED Greentown Architectural Technology Co.,Ltd.Retailing Connect Tech Ltd.Luoyang Zhongzhi Software Technology Co.,Ltd.MotionsCloud GmbH Shanghai Definesys Information Technology Co.,Ltd.RoboticPlus.AIShanghai He

274、lloTech Information Technology Co.,LtdHaiyi Design InstituteShanghai Blue Wall Technology Co.,LtdShanghai MetroData Tech.Co.,Ltd.Shanghai Pinlan Data Technology Co.,Ltd.Shanghai Weibuild Technology Co.,Ltd.Shanghai YouKun Information Technology Co.,Ltd.Shanghai Yuanquan Network Technology Co.,Ltd.Sh

275、enzhen Haizhichuang Technology Co.,Ltd.ShenZhen Idea Data Intelligence Technology Co.,LtdShenzhen Huayunzhongsheng Technology Co.,LtdSpaceiCloudShenzhen Segi Information Technology Co.,Ltd.Shenzhen Facility Management Community Technology Co.,LtdOnewo In-homeShenzhen Webuild Technology Co.,Ltd.Shenz

276、hen Xinghai IoT Technology Co.,Ltd.CiticyunxingShenzhen Xkool Technology Co.,Ltd.Vanyi Technology Co.,LtdXiamen Vann Intelligent Co.,Ltd.China Construction Third Engineering BureauInformation Technology Co.,Ltd.China Construction Yipin Investment&DevelopmentCo.,Ltd.Zhongtian Myhome Group Co.,Ltd.Not

277、e:The English list follows the same order as the Chinese list,with the Chinese list arranged in alphabetical order based on the pinyin initials.Leading PropTech 50-List of enterprises25 2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of

278、 independent member firms affiliatedwith KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG China Leading PropTech 50Susana GaoHead of Real Estate and Building Construction Northern Region,KPMG China+86(10)8508 Contact usJacy LiHead of Real Estate

279、 and Building Construction,KPMG China+86(21)2212 2366 George WongHead of Real Estate and Building Construction Southern Region,KPMG China+86(755)2547 1088 Alan YauHead of Real Estate and Building Construction Hong Kong SAR,KPMG China+852 2143 Ryan LiPartner,CIO Advisory Corporate,KPMG China+86(20)38

280、13 8552 Amis RenPartner,Management Consulting,KPMG China+86(10)8508 Ricky GuTax Partner,Real Estate and Transportation,KPMG China+86(20)3813 Andrew ZhaoPartner,Real Estate and Transportation,Transaction Services,KPMG China+86(21)2212 3585 Mark LiuDirector,CIO Advisory,KPMG China+86(21)2212 Mathieu F

281、anPartner,Turnaround and Restructuring,KPMG China+852 2978 Joyce XiePartner,Governance,Risk and Compliance,KPMG China+86(755)2547 Seal DaiPartner,Valuation and Modelling,KPMG China+86(21)2212 Brenda WangPartner,Business Reporting and Sustainability,KPMG China+86(21)2212 Kevin JinPartner,Risk Consult

282、ing,KPMG China+86(21)2212 Ming LiuPartner,Government and Infrastructure Advisory,KPMG China+86(21)2212 a list of KPMG China offices,please scan the QR code or visit our website:https:/ information contained herein is of a general nature and is not intended to address the circumstances of any particu

283、lar individual or entity.Although we endeavour to provide accurate and timely information,there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.No one should act on such information without appropriate professi

284、onal advice after a thorough examination of the particular situation.2023 KPMG Huazhen LLP,a Peoples Republic of China partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.