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Express News | Moody's Ratings Withdraws Country Garden's Ratings Due to Insufficient Information
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.
HTSC: Stabilization of housing prices in Beijing and Shanghai sends bullish signals and is expected to accelerate the recovery of the real estate market.
HTSC stated that several volume and price indicators in first-tier cities have shown improvement compared to the previous period. In particular, the cessation of the decline in housing prices in Beijing and Shanghai has conveyed bullish signals, and it is expected to accelerate the expectation of real estate market recovery. It is still necessary to continue to monitor the sustainability of the recovery of volume and price in core cities.
Country Garden's Home Sales Slump Persists as Aid Fails to Help
Country Garden Holdings Co's home sales continued to slump last month, adding to the Chinese developer's woes as it tries to avoid liquidation.
Country Garden Reports Preliminary June Sales
Country Garden Holdings Co reported unaudited sales figures for June 2024, with the company achieving approximately RMB 4.30 billion in contracted sales and 0.40 million square meters in contracted sales GFA attributable to shareholders.
Country Garden (02007.HK) had a contract sales amount of approximately 4.3 billion yuan attributed to shareholders in June.
On July 2, Geely announced that Country Garden (02007.HK), its subsidiary, joint venture and affiliated companies achieved a contract sales amount of approximately RMB 4.3 billion, and a contract sales area of approximately 400,000 square meters that belonged to their shareholder equity in June 2024.
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