China's real estate market in 2021 is like a "double sky of ice and fire": from the scorching heat in the first half of the year to the cold winter in the second half of the year. With the sudden change of wind direction, real estate enterprises have been frugal and look forward to winter and spring. As of April 29, except that some listed real estate enterprises were unable to disclose the annual report of 2021 on schedule for some reasons, the vast majority of listed real estate enterprises have published the "report card" of 2021. Overall, the continuous decline in sales and gross profit margin has led to the general "increase in income without increasing profit" of listed real estate enterprises. In response to the future, the production and operation of listed real estate enterprises will pay more attention to high quality, seek innovation on the basis of ensuring financial stability, and inject new vitality into their own growth by exploring new development models.