Movement Alert|China Overseas Land Rises 3.88% in Regular Trading, H1 Contracted Sales Up 11.8% YoY

Market Focus07-08

On July 8, China Overseas Land & Investment rose 3.88% in regular trading, trading at HK$12.84/share, with turnover of HK$143 million.

On the news front, the company disclosed its first-half operating data on July 7. From January to June, China Overseas series companies recorded cumulative contracted property sales of approximately RMB134.35 billion, up 11.8% year over year. In June alone, contracted sales reached RMB31.35 billion, representing a 5.5% YoY increase, though sales area declined 28.7% to 978,100 square meters.

As of June 30, the company had subscribed but unconverted property sales of approximately RMB14.06 billion, expected to convert into contracted sales in subsequent months. For H1, the group acquired new land with attributable gross floor area of approximately 744,800 square meters at an aggregate land premium of RMB7.66 billion. The sustained double-digit sales growth reinforces the company's leading position among state-owned developers in a differentiated market recovery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment