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Proactively reducing debt, LONGFOR GROUP repaid 9.45 billion HKD in syndicated loans ahead of schedule.
On December 18, LONGFOR GROUP repaid 1.05 billion Hong Kong dollars of Overseas syndicated loans in advance. It is reported that after this repayment, LONGFOR GROUP has fully repaid the 9.45 billion Hong Kong dollars syndicated loan that was due on January 2, 2025, ahead of schedule. Public information shows that, in addition to repaying Overseas syndicated loans early, LONGFOR GROUP has fulfilled the domestic Bonds payment of 11.7 billion yuan as scheduled since 2024, and has repaid CMBS of 7.2 billion yuan early. Just recently, on December 9, LONGFOR GROUP successfully completed the principal repayment and interest payment of the "21 LONGFOR Expansion MTN001" Bond, involving a total amount of approximately 1.03 billion yuan.
Mainland Real Estate stocks fell with the market, ZHONGLIANG HLDG (02772) decreased by 5.79%. Institutions expect that December transactions will continue to recover.
Jinwu Finance | Mainland Real Estate stocks decline with the market, ZHONGLIANG HLDG (02772) down 5.79%, CHINA VANKE (02202) down 4.2%, RADIANCE HLDGS (09993) down 3.32%, CHINA JINMAO (00817) down 2.97%, CHINA OVERSEAS (00688), LONGFOR GROUP (00960), CHINA RES LAND (01109) down over 1%. The Pacific Securities Research indicates that in November, the sales volume and sales area of commercial housing nationwide turned positive year-on-year, with buyers' confidence in purchasing homes recovering, showing signs of market improvement. Funding availability in Real Estate has improved, as December is generally a time for developers.
China Galaxy Securities: Monthly sales area in real estate turned positive year-on-year, and the effects of policies are gradually becoming apparent.
China Galaxy Securities released a research report stating that from January to November 2024, the cumulative sales area and sales amount both showed a narrower decline compared to the previous month, with a year-on-year positive growth in sales area for the month of November.
According to the Central Finger Research Institute: In November, the average transaction price of second-hand Residences in 100 cities fell by 0.57% month-on-month, while the Volume in Shenzhen doubled year-on-year.
Data monitoring shows that in November 2024, the average price of second-hand Residences in 100 cities is 14,278 yuan per square meter, a month-on-month decrease of 0.57%, narrowing the decline by 0.03 percentage points compared to October; a year-on-year decrease of 7.29%.
Keari Real Estate Research: In November, the Residence market transactions maintained a high level for the year.
In November, the supply scale grew month-on-month and year-on-year, with the supply volume in 100 typical cities at 15.07 million square meters, a year-on-year decrease of 26.3%, but a month-on-month increase of 43.4%.
[Brokerage Focus] SWHY expects the Real Estate Industry to bottom out and maintains a 'Bullish' rating on Real Estate and property management.
Gold Eagle Financial News | SWHY stated that over the past three years, China's Real Estate sector has undergone deep adjustments, and the effects of relaxed policies during this period have been limited. The bank believes that the core issue lies not in insufficient demand, but in the weakening of residents' balance sheets. The statements in September to 'stop the decline and stabilize' and in December to 'stabilize the Real Estate and stock markets' clarified the policy approach to repairing residents' balance sheets, demonstrating stronger policy effectiveness than before. The policy has entered a more targeted trajectory, and it is expected that more proactive and substantial policies will be introduced subsequently, with the Industry likely to reach a bottom. Considering that mid-term demand has support but short-term supply has constraints, the bank forecasts that the total will still be skewed next year.
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