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Zhongzhi Property Research: In July, the TOP 50 property service enterprises added a total contracted area of about 96.16 million square meters.
Top 50 Chinese property service companies with newly added contract area in July 2024.
As a whole, the property management stocks are under pressure. Songdu Service (09608) fell by 10.81%. Morgan Stanley expects reduced management fees to put pressure on the profitability of property management stocks.
Kinwai Financial News | Property management stocks are under pressure as a whole. Songdu Services (09608) fell 10.81%, Powerlong Commercial (09909) fell 4.91%, Times Neighborhood (09928) fell 4.26%, Binjiang Services (03316) fell 2.95%, KWG Living (03913) fell 2.67%, and China RES Mixc (01209) fell 2.43%. JPMorgan published a research report stating that since June, Chongqing has seen many community owners requesting a reduction in management fees, with a rising trend. Currently, most requests have not been successful, and no similar requests have been seen in other regions of the mainland.
Powerlong plans to issue mandatory convertible bonds to relevant planned bondholders with a maximum principal amount of approximately 0.558 billion US dollars.
Powerlong (01238) announced that at the hearing held on July 18, 2024, the court instructed that: (1) the company is free to convene meetings of various categories of plan creditors to consider and, at its discretion, approve the arrangements made between the company and the plan creditors, whether revised or not; and (2) a substantive hearing application will be held in the Hong Kong High Court at 11:00 am on October 29, 2024 (Hong Kong time), and the court will rule whether to approve the plan at that hearing. The plan meeting is currently scheduled to be held in early October 2024. At least 21 days before the plan meeting, the company will convene a hearing in accordance with the convening
Improved Earnings Required Before Powerlong Commercial Management Holdings Limited (HKG:9909) Stock's 32% Jump Looks Justified
Performance is polarized, is your residential property OK?
High-quality property companies that have returned to the cash cow logic at this stage may be able to regain the favor of fundamental investors through steady management and high dividends; for investors with higher risk appetite, those property companies that continue to make progress in expanding and cultivating value-added businesses with third parties may also have a high value of attention.
POWERLONG CM: 2023 ANNUAL REPORT
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