In recent years, with the gradual attention to environmental pollution and the deep understanding of sustainability theory, the supply chain of the real estate industry has begun to change to a green and sustainable development approach. In 2016, Society of Entrepreneurs and Ecology and other real estate industry alliance organizations, together with Vanke and other industry leaders, launched the “Green Supply Chain Action” to establish a green procurement whitelist by testing the environmental performance of building materials suppliers in various categories. This paper focuses on the impact of the number of suppliers regulated by the company on the financial performance of the company in the sustainable supply chain. The empirical results show that the number of suppliers under corporate supervision is negatively related to financial performance. In response to the findings, this paper puts forward development suggestions for real estate green supply chain management.