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China Resources Land Limited's (HKG:1109) Price Is Right But Growth Is Lacking
CICC: The basic fundamentals of real estate in July continue to show a weakness in performance as before.
In the short to medium term, investment opportunities in the real estate sector may be dominated by short-term speculation; considering that previous valuations have taken into account too many negative expectations for real estate beta, the current property management sector has room for repair.
China Res Land has accumulated contract sales of approximately 140.2 billion yuan in the first 7 months.
China Res Land (01109) announced that as of the end of a one-month period ending on July 31, 2024, the company and its subsidiaries achieved a total contract sales amount of approximately RMB 15.5 billion and a total contracted sales area of approximately 0.729 million square meters, representing a decrease of 9.8% and 24.7% respectively on an annual basis. Accumulated contract sales amount for the first seven months of 2024 was approximately RMB 140.2 billion, and the total contracted sales area was approximately 5.94 million square meters, representing a decrease of 25.2% and 25.6% respectively on an annual basis. In July 2024, the Group's recurring business revenue amounted to approximately RMB 3.9 billion, representing a year-on-year increase of 13.7%.
China Res Land announced that Guo Shiqing has been appointed as an authorized representative.
China Res Land (01109) announced that, starting from August 12, 2024, Xie Ji resigned from the positions of executive director, executive committee member, authorized representative, and legal process agent; and Guo Shiqing was appointed as the authorized representative.
China res land (01109.HK) had an operating income of approximately 3.9 billion yuan in July.
China Res Land announced that as of July 31, 2024, the company and its subsidiaries have achieved a total contract sales amount of approximately RMB 15.5 billion, with a total contract sales area of approximately 0.729 million square meters. The cumulative contract sales amount in the first seven months of 2024 is about RMB 140.2 billion, with a total contract sales area of approximately 5.94 million square meters.
Express News | China Resources Land - July Gross Contracted Sales of Approximately RMB15.50 Bln
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