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[Brokerage Focus] Haitong Int'l maintains a "outperform the market" rating on real estate. Institutions point out that there have been significant recent signs of loosening in industry policies.
Kinggor Financial News | haitong int'l released a research report, according to the sales performance ranking data for the period of January to October 2024 published by Ke Rui, the total sales amount of the top 100 real estate companies in terms of turnover reached 3,069.27 billion yuan, a decrease of 32.7% compared to the same period in 23, with a narrower decline of 3.9 percentage points compared to September; the equity amount reached 2,428.26 billion yuan, a decrease of 32.2% compared to the same period in 23, with a narrower decline of 4.0 percentage points compared to September, with an equity ratio of 79%. Looking at the situation in October 2024 alone, the top 100 real estate companies achieved a total sales amount of 435.41 billion yuan in terms of turnover, an increase of 73.0% compared to the previous month and 7.0% year-on-year. In October 2024, the top 100 real estate companies achieved equity sales of 343.27 billion yuan, an increase of 78.5% compared to the previous month and 9.9% year-on-year
Huachuang Securities: Interest rate cuts promote the bottoming out of the property market, but still need to pay attention to changes in residents' income.
Lowering the LPR again can to a certain extent reduce the cost of residential purchases, which is beneficial for accelerating market bottoming out.
Hong Kong stock concept tracking | Peking, Shenzhen real estate market volume hits new high, real estate sector policy effects may gradually emerge (with concept stocks)
Data from the China Real Estate Research Institute shows that as of the 26th of October, the number of second-hand residential housing transactions in Beijing has reached 12,979 units. It is expected that the total number of transactions in October will exceed 0.016 million units, reaching a new high in 19 months; the actual transaction volume is expected to reach 0.025 million units, the highest in the same period in 8 years.
[Brokerage Focus] Daiwa Securities pointed out that during the National Day holiday, sales of large real estate developers in mainland China exceeded expectations.
King's Financial News | Morgan Stanley's report shows that mainland large real estate developers' sales during the National Day Golden Week exceeded expectations, with an average year-on-year increase of 39%, accounting for 86% of September's contracted sales. It is highly likely to record double-digit monthly growth, with the year-on-year decline narrowing. Among them, China Resources Land (01109), Greentown China (03900), China Overseas Development (00688), C&D Intl Group (01908), and Yuexiu Property (00123) performed well. The bank expects a strong trend in the coming weeks with improved sentiment, but the sustainability of sales remains the key to outperforming the industry.
Hong Kong stock abnormal | Property management stocks collectively weaken, most real estate developers' September contract sales data is not good, but the industry dividend yield still remains attractive.
Property management stocks collectively weakened, as of the deadline for submission, a-living (03319) fell by 16.81%, closing at 3.86 Hong Kong dollars; China Res Mixc (01209) fell by 16.73%, closing at 32.9 Hong Kong dollars; cg services (06098) fell by 13.25%, closing at 6.94 Hong Kong dollars.
[Brokerage Focus] JPMorgan: If mainland real estate stocks pull back, opportunity can be found in property management stocks. China RES Land (01109) and poly ppt ser (06049) still have upside potential.
Kingwu Finance News | JPMorgan released a report stating that mainland real estate stocks rose by 21% yesterday (2nd), compared to a 6% increase in the Hang Seng Index. Some financially troubled companies even soared by 40% to 50%. The bank believes that if central data or policy support falls short of expectations, mainland real estate stocks may experience a sharp pullback. However, it is recommended to seek opportunities in low-priced property management stocks, considering the risk and valuation. The bank believes that China Resources Land (01109), China Resources MixC (01209), and Poly PPT Ser (06049) still have upside potential.
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