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<Research>CCBI: Sales of Quality CN SOE Developers Resume Growth in June, Prefers COLI/ GREENTOWN/ POLY DEVELOPMENTS
Recommend 10 Positive 24 Negative 4 |
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CCBI wrote in a report that quality state-owned real estate enterprises in Mainland resumed growth in June, with contracted sales of major developers showing significant improvement, picking up by an average of 20% MoM, reflecting seasonal factors and improved fundamentals. POLY DEVELOPMENTS (600048.SH), CHINA OVERSEAS (00688.HK), CHINA RES LAND (01109.HK), (001979.SZ), GREENTOWN CHINA (03900.HK), C&D INTL GROUP (01908.HK), YUEXIU PROPERTY (00123.HK), and HUAFA (600325.SH) have ended the downtrend of the past 12 months. Among them, COLI recorded a 40% YoY increase in contracted sales in June. According to the broker, the data showed that both primary and secondary markets have improved, property price adjustments have supported the market recovery, and reduced land supply has balanced the market. CCBI expected medium-term recovery to be supported by improved fundamentals, and that the recovery of high-quality state-owned real estate enterprises is getting clearer. The broker preferred COLI, GREENTOWN and POLY DEVELOPMENTS. AAStocks Financial News |
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