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Hong Kong stocks gain momentum | Mainland real estate stocks are generally on the rise as multiple first-tier cities promote the acquisition and storage of commodities, and the decline in sales of commodity housing continues to narrow.
Mainland real estate stocks generally rose. As of the time of publication, China Jinmao (00817) rose by 6.78%, closing at HKD 0.63; CIFI Holdings Group (00884) rose by 6%, closing at HKD 0.265; Midea Real Est (03990) rose by 4.51%, closing at HKD 7.19.
Mainland real estate stocks rose across the board. China Jinmao (00817) rose 6.78%. Several first-tier cities have issued policies to store and purchase commodity housing.
Jingwu Finance | Mainland real estate stocks rose across the board. As of press time, China Jinmao (00817) rose 6.78%, CIFI Holdings Group (00884) rose 4%, CH OVS G Oceans (00081) rose 3.8%, Midea Real Est (03990) rose 3.49%, Greentown China (03900) rose 3.02%, and Sunac (01918) rose 2.97%. In terms of news, following Shenzhen's announcement of the acquisition of commodity housing for indemnificatory apartments, several first-tier cities will issue policy documents to purchase and store commodity housing. Among them, Nanjing plans to issue a policy to purchase unsold commodity housing for indemnificatory apartments.
Midea Real Est announces its interim results. The net profit attributable to owners decreased by 51.94% year-on-year to approximately 0.376 billion yuan.
Midea Real Est (03990) announced its mid-term performance for 2024, with revenue of 25.134 billion yuan, a decrease of 30.83% year-on-year; gross profit of about 2.321 billion yuan, a decrease of 51.6% year-on-year; profit attributable to owners of the company was about 0.376 billion yuan, a decrease of 51.94% year-on-year; net income attributable to owners of the company's core decreased by 51.1% to about 0.419 billion yuan; earnings per share were 0.26 yuan. The announcement stated that the decrease in gross profit was mainly due to the higher unilateral cost of recognized projects and the increase in provision for impairment reserves for property development projects with indications of impairment during the period.
Midea Real Estate: Lower Property Sales Weighed on Results, Impairment Loss on Financial Assets Hurt Results>3990.HK
Midea Real Estate 1H Net CNY375.87M Vs. Net CNY782.10M >3990.HK
Midea Real Estate 1H Rev CNY25.13B Vs. CNY36.33B >3990.HK
The Three-year Shareholder Returns and Company Earnings Persist Lower as Midea Real Estate Holding (HKG:3990) Stock Falls a Further 9.7% in Past WeekNo Data
