Stock Track | China Jinmao Shares Soar 6.36% on Strong September Contracted Sales

Stock Track2024-10-10

Shares of China Jinmao Holdings Group Ltd (00817) surged 6.36% on Wednesday after the company reported robust contracted sales figures for September.

China Jinmao announced that its contracted sales amount for September reached RMB 7,008 million, reflecting strong demand for the company's real estate projects. This positive sales performance was seen as a favorable indicator by investors, fueling optimism about the company's prospects and driving up its stock price.

Solid contracted sales are crucial for real estate developers as they represent future revenue streams. The impressive September figures suggest that China Jinmao is successfully navigating the challenges faced by the broader Chinese property market, potentially setting the stage for continued growth and profitability.

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