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Country Garden Services to Sell Entire 0.31% Stake in Zhuhai Wanda
Dow JonesOct 29 18:44 ET
cg services (06098.HK) further sold approximately 0.31% equity of Wanda in Zhuhai.
On October 29, Country Garden Services (06098.HK) announced that Wanda Group has agreed to acquire the target company's shares held by Country Garden Property Hong Kong (an indirectly wholly-owned subsidiary), and Country Garden Property Hong Kong has agreed to sell approximately 1.49% equity interest in Zhuhai Wanda to Wanda Group. On October 14, 2024, the designated transferee by Wanda Group has paid the first installment of consideration as agreed. Therefore, the first phase of the sale has been completed. Considering that the first phase of the sale has been completed and the board of directors believes that the sale terms were negotiated on general commercial terms and are fair and reasonable, the board of directors act in the best interest of all shareholders of the company.
Gelonghui FinanceOct 29 10:49 ET
Express News | Country Garden Services - Cgs HK Agreed to Sell, and Wanda Parties Agreed to Acquire Second Target Shares at Second Consideration of RMB649.3 Mln
ReutersOct 29 10:45 ET
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.
Zhitong FinanceOct 27 22:26 ET
Country Garden Services' Auditor Steps Down, Replacement Named
MT NewswiresOct 23 02:39 ET
Express News | Country Garden Services - Board Has Resolved to Appoint Deloitte Touche Tohmatsu as Auditor of Co
ReutersOct 21 09:19 ET

Comments

Spinee

Oct 18 02:47

1⃣ China's Jan-Sept realestate development investment fell by 10.1% y/y to 7.87 trillion yuan.
2⃣Residential housing sales areas decline narrowed to -17.1% y/y at 703 million square meters, and the total sales down by 22.7% y/y to 6.89 trillion yuan. (narrowed)
3⃣Developing funds in place down 20.0% y/y(narrowed) to 7.89 trillion yuan.
4️⃣Sentiment 92.41
$LONGFOR GROUP (00960.HK)$ $CG SERVICES (06098.HK)$ $AGILE GROUP (03383.HK)$ $EVERGRANDE (03333.HK)$

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Officials say the real estate market is bottoming out. What’s your view on China's property market?

6

Spinee

Oct 17 22:12

The consistent MoM decline in property prices is why Beijing is pushing supportive policies.

I’d be worried if the rate of decline does not significantly lessen in October given the reports of a more active buyer market since the National Day holiday.
ALL CHINA SEPT NEW HOME PRICES -0.7% M/M (AUG -0.7%), -5.8% Y/Y (AUG -5.3%). STABILIZED M/M, WITH Y/Y DECLINES WIDENING.
HOME PRICES FELL M/M IN 66 OF 70 CITIES VS. 67 IN AUG, FELL Y/Y IN 68 CITIES, VS 68 IN AUG.
$CG SERVICES (06098.HK)$ $LONGFOR GROUP (00960.HK)$ $EVERGRANDE (03333.HK)$ $AGILE GROUP (03383.HK)$

Officials say the real estate market is bottoming out. What’s your view on China's property market?

2

Spinee

Oct 17 07:24

When this property “white list” initiative was launched at the start of the year, it was being downplayed as a failed policy by mainstream media.

Today, it appears it has been successful based on the amount of approved loans made - DOUBLE the original budget. And now, Beijing is boosting that original budget by almost 3X to 4 trillion yuan.
Seems as if a recovery was already starting to take form underneath the surface. Now, they are addressing the demand side with lower mortgage rates, easier ...

Officials say the real estate market is bottoming out. What’s your view on China's property market?

3

Spinee

Oct 17 02:37

HK-LISTED PROPERTY DEVELOPERS ARE DECLINING AMID THE $CHINA BRIEFING.

RONSHINE CHINA FALLS APPROXIMATELY 31%, SUNAC CHINA DROPS AROUND 25%, AND CHINA VANKE DECLINES ABOUT 14%.
HANG SENG INDEX TURNS NEGATIVE AFTER PREVIOUSLY RISING OVER 2%; HANG SENG TECH INDEX NARROWS GAINS TO 0.36%.
$RONSHINECHINA (03301.HK)$ $SUNAC (01918.HK)$ $KAISA GROUP (01638.HK)$ $SHIMAO GROUP (00813.HK)$ $CHINA VANKE (02202.HK)$ $SINO-OCEAN GP (03377.HK)$ $CIFI HOLD GP (00884.HK)$ $CHINA AOYUAN (03883.HK)$ $SEAZEN (01030.HK)$ $ZHENRO PPT (06158.HK)$ $AGILE GROUP (03383.HK)$ $LONGFOR GROUP (00960.HK)$ $LOGAN GROUP (03380.HK)$ $KWG GROUP (01813.HK)$ $POWERLONG (01238.HK)$ $CHINA JINMAO (00817.HK)$ $TIMES CHINA (01233.HK)$ $SUNAC SERVICES (01516.HK)$ $POWERLONG CM (09909.HK)$ $CG SERVICES (06098.HK)$ $S-ENJOY SERVICE (01755.HK)$

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Officials say the real estate market is bottoming out. What’s your view on China's property market?

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Spinee

Oct 17 02:05

Key points from China's Thursday briefing

1) Renovation of 1 million urban villages and dilapidated buildings:
Focused on supporting cities at the prefecture level and above.
Development and policy-oriented financial institutions will provide special loans.
Local governments will be allowed to issue special bonds.
Tax and fee incentives will be offered.
Commercial banks will issue loans based on evaluations.
2) Increase in credit for "white-listed" projects to 4 trillion yuan by year-en...

Spinee: 中国的MOHRD、PBOC和NFRA将于10月17日举行关于房地产市场的新闻发布会。

Officials say the real estate market is bottoming out. What’s your view on China's property market?

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