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CH OVS G OCEANS (00081.HK) entered into a basic asset transfer and repurchase agreement with Bohai REITs.
On December 11, Glorious Group announced that CH OVS G OCEANS (00081.HK) has entered into a basic asset transfer and repurchase agreement with Bohai REITs on December 11, 2024. According to this agreement, CH OVS G OCEANS agrees to sell the underlying assets (i.e., accounts receivable) to Bohai REITs (acting as the trustee of the Bohai REITs program) for a price not exceeding 0.5 billion yuan. On the 180th day after the transfer date, CH OVS G OCEANS will repurchase all remaining underlying assets held by the Bohai REITs program.
Express News | China Overseas Grand Oceans - Unit to Dispose of Underlying Assets to Bohai Trust at No More Than RMB500 Mln
Hong Kong stocks move | Mainland real estate stocks opened higher across the board. The Political Bureau meeting emphasized to "stabilize the real estate market," and policies for both supply and demand in real estate are expected to increase.
Mainland real estate shares opened higher across the board. As of the time of writing, sunac (01918) rose 13.84% to HKD 3.29; ronshinechina (03301) rose 13.73% to HKD 0.58; radiance hldgs (09993) rose 12.65% to HKD 3.74.
Standard Chartered: It is expected that the Federal Reserve will cut interest rates by 125 basis points from the current period to the third quarter of next year. The housing market in Hong Kong is expected to stabilize in an L-shaped manner next year.
Although the usa's interest rate cut is slower than expected in both magnitude and speed, Hong Kong silver has reacted quite quickly to follow the usa's interest rate cut, hence it is expected that the real estate market will stabilize in an L-shaped manner next year.
Ke Erui Research Center: In November, the performance of the top 100 real estate companies decreased by 16.6% month-on-month, with high investment focus and concentration.
Looking ahead to the market, Ke Rui believes that December coincides with the performance sprint season for real estate companies, and it is possible that some real estate companies will carry out year-end promotions to boost their performance. Considering this impact, overall transaction volumes are expected to rise month-on-month, showing a slight uptick.
China Finger Research Institute: In the 49th week of 2024, the sales area of new houses in 30 cities was 3.13 million square meters, a decrease of 28.7% compared to the previous period, and an increase of 21% year-on-year.
In the 49th week of 2024 (12.01-12.07), the new housing transaction area in 30 cities was 3.13 million square meters, a decrease of 28.7% from the previous period and an increase of 21% year-on-year.
China Overseas Grand Oceans Group (HKG:81) Earnings and Shareholder Returns Have Been Trending Downwards for the Last Three Years, but the Stock Hikes 24% This Past Week
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