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[Brokerage Focus] CMB International: The downward trend in real estate sales in September may intensify.
Jingu Finance News | CMB International Bank said that the downward trend in real estate sales in September may intensify. The bank pointed out that some cities are adopting a new pricing mechanism, using the internal area of the house rather than the total area as the pricing basis for sales while keeping the total price of the house unchanged. The bank believes that due to the higher price per unit area under this mechanism, it will not promote sales in the short term. However, the bank believes that this will increase transaction transparency, protect the rights and interests of homebuyers, and promote the healthy development of the industry in the long term. Discussions on the policy of allowing conversion of inventory to mortgages are currently underway. The bank believes that this will only be feasible when mortgage interest rates decrease to a level that makes rental yield attractive.
Market Chatter: Hong Kong Rental Property Prices Close to Record High in August
[Brokerage Focus] zhongtai maintains a "buy" rating for greentown ser (02869), pointing to steady growth in first-half revenue performance.
Jingu Financial News | Zhongtai Securities' research report indicates that greentown ser (02869) achieved total operating income of 9.068 billion in the first half of 2024, a year-on-year increase of 10.6%; with property service revenue reaching 6.019 billion, a year-on-year increase of 14.6%; park service revenue of 1.758 billion, a year-on-year increase of 6.1%; consulting services revenue of 1.132 billion, a year-on-year increase of 5.3%; technology service revenue of 0.159 billion, a year-on-year decrease of 25.5%. The reason for the decline in revenue for the technology service sector is due to delays in contract execution by the clients, prompting the company to proactively optimize its business structure. As for profitability,
Hong Kong stock market | Property management stocks rise in early trading. Property management companies increase shareholder returns. Institutions say some property management companies are showing resilience.
The property management stocks rose in early trading. As of the time of writing, china ovs ppt (02602) rose by 4.72% to HK$18.64; greentown ser (02869) rose by 4.24% to HK$3.69; poly ppt ser (02669) rose by 1.26% to HK$4.83; and poly ppt ser (06049) rose by 1.56% to HK$26.05.
Property management stocks generally rose, with Greentown Services (02869) up 3.67%. Institutions point out that the core business of mid-term property service companies is maintaining growth.
Jingu financial news | Property management stocks generally rose, Rongxin service (02207) rose by 5.38%, Wanwu Cloud (02602) rose by 4.61%, Greentown service (02869) rose by 3.67%, Jianfa property (02156), Poly property service (06049), Shimao services (00873), etc. rose with it. On the news front, citic securities stated that in the 2024 interim report, the core business of property service enterprises maintained growth, quality improvement in external development, and stable efficiency, reflecting a quasi-public utility attribute. The most core factor affecting the valuation of the enterprise remains corporate governance issues. Independence risk is relatively small.
Express News | Greentown Service Group Co Ltd - and Greentown Consulting Has Paid a Settlement Fee in an Amount of Not More Than Judgment Sum
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