According to Fitch, the sales value of new housing in mainland China is expected to decline by 15% next year.

Fitch Ratings report indicates that mainland real estate developers are expected to continue facing challenges in 2025, with predicted decline in the value of new building sales by 15% to around 7.3 trillion yuan, mainly due to a 10% decrease in sales area and a 5% decrease in average selling price. In addition, the bank also expects that the long-term average annual demand for new residences from 2024 to 2040 will reach a building area of 0.8 billion square meters, with private residential supply reaching 0.6 billion square meters each year. Cities with good economic prospects and relaxed purchase restrictions may perform better.

AASTOCKSNov 25, 2024 12:06

Selected Announcements | Alibaba reaches a settlement agreement of over 0.4 billion USD in shareholder class action lawsuit; China Shenhua Energy earns over 50 billion yuan in net profit in the first three quarters.

China Shenhua Energy's net profit in the first three quarters exceeded 50 billion yuan, how fast is the growth rate?

cls.cnOct 28, 2024 08:29

Many real estate stocks surged by over 60%! On the first day of the new policies in Beijing, Shanghai, Guangzhou, and Shenzhen, some people even "bought houses in the air" overnight!

After the opening of the Hong Kong stock market, the real estate sector has the highest increase, with more than several individual stocks still rising by over 60% as of the time of writing.

Securities TimesOct 2, 2024 15:13

CHI MER LAND: 2024 Interim Report

HKEXSep 16, 2024 16:31 · Announcements

Fitch Ratings: Quasi-special debt purchase of houses signifies a significant change in central policy.

Credit rating agency Fitch Ratings has stated that if the central government allows local governments to use special debt funds to acquire unsold housing, it will indicate a significant change in the way the central government deals with the sluggish real estate market. Once the policy is implemented, it reflects a shift in focus towards resolving the issue of excess housing inventory, rather than focusing on 'buying a house and handing it over'. In addition, Fitch Ratings adds that local governments have previously been allowed to use special debt to acquire idle land from developers to build affordable housing, and if the use of special debt is further expanded, it will accelerate the issuance of special debt and allow local governments to address the issue of excess housing inventory more quickly. However, Fitch Ratings questions whether the returns from affordable housing are sufficient to repay the related debt.

AASTOCKSAug 30, 2024 09:04

Performance: Chi Mer Land (00978.HK) reported a loss of 0.328 billion RMB in the first half of the year.

Chi mer land (00978.HK) announced its interim results for the period ending June this year, with revenue of RMB 5.244 billion, a year-on-year decline of 46.6%. It suffered a loss of RMB 0.328 billion, compared to a profit of RMB 84.14 million in the same period last year. Loss per share was 6.68 cents. No dividend will be distributed.

AASTOCKSAug 29, 2024 16:37