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Haitong Securities: Concentration in the real estate industry hits a bottom and rebounds, while the net debt ratio falls.
Haitong Securities believes that as policies continue to recover, the market share of industry blue-chips will enter a trajectory of continuous growth.
[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
Tracking the concept of Hong Kong stocks | Leading state-owned property companies have stable development. Institutions seize the opportunity to allocate at the bottom (with concept stocks)
Citic Sec stated that, with the enterprises actively controlling the incremental related trades, gradually digesting the outstanding related loans, and increasing the level of dividends, the independence concerns of property service enterprises can be somewhat relieved.
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.
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