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GF Sec: Land Activation Fund Established, New Home Sales Turn Positive year-on-year in early July.
GF sec released research reports stating that the state-owned assets supervision and administration commission has set up a special fund for land consolidation with a total size of 30 billion yuan and requires central SOEs to report pilot projects to try to solve the problem of long-term high inventory in the real estate market. On the local policy side, this week still mainly focuses on relaxing housing provident fund policies and providing housing subsidies to boost demand, and various regions are still exploring new policies to stimulate demand.
htsc: The land market supply and demand continues to be weak, focusing on real estate companies with core urban resources.
The land market is still weakly running in the first half of 2024, and the trend of shrinking volume continues, while the previously maintained rising transaction average price also decreased year-on-year in the first half of the year.
China Jinmao Reports Strong Mid-Year Sales
China Jinmao (00817.HK): The cumulative contracted sales amount in the first half of the year amounted to a total of 44.54 billion yuan.
On July 8th, Groco announces that China Jinmao (00817.HK) has obtained a sales contract of RMB 13.3 billion and a sales area of approximately 0.81 million square meters in June 2024. As of the end of June 2024, the Group has accumulated a total contract sales amount of RMB 44.54 billion (including the Changsha Meixi Lake International New Town Project, Nanjing Qinglongshan International Ecology New Town Project, Ningbo Life Sciences City Project, Jiaxing Shanghai Window Smart Science City Project, Zhengzhou Erqi District Mazhai New City Project, Wenzhou Aojiang International New Town Project, and Jinhua Jinmao Future City Project, if any).
Express News | China Jinmao - June Contracted Sales RMB13,300 Mln
China Jinmao (00817.HK): Jinmao Group has issued an exercise notice to Huafu Securities.
On November 24, 2021, Shanghai Congmao and Jinmao Group, an indirectly wholly-owned subsidiary of China Jinmao (00817.HK), respectively entered into a partnership agreement and an asset-backed securities subscription agreement with Huafu Securities to prepare for the establishment of an asset-backed securities plan named Jinmao Huafu - Jinmao Hotel Xin Xuan No.1 asset support special plan. The plan aims to securitize the group's assets and raise funds for the group's operation and business development. On the same day, Jinmao Group also entered into a priority purchase rights agreement with Huafu Securities, allowing Jinmao Group to enjoy corresponding priority purchase rights under the special plan.
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