On September 23, CHINA RES LAND rose 3.43% in regular trading, trading at HK$30.06/share, with turnover of HK$188 million. The broader real estate sector saw widespread gains, with CHINA VANKE up 10.4%, COUNTRY GARDEN up 6.7%, and SUNAC up 8.4%.
On the news front, the company disclosed unaudited operating data showing August contracted sales of approximately RMB 18.5 billion, surging 40.2% year-over-year. Cumulative contracted sales for the first eight months reached RMB 149.1 billion, up 9.0% year-over-year. Meanwhile, recurring revenue rose 7.1% to RMB 4.57 billion in August, with rental income from investment properties climbing 6.1% to RMB 3.02 billion.
Additionally, the Ministry of Housing and Urban-Rural Development emphasized at a recent press conference that cash sales of completed homes is an irreversible trend, pledging to implement project company, lead bank, and completed-home sales systems. Multiple brokerages including UBS, Citi, and CICC maintain buy ratings with target prices ranging from HK$38.8 to HK$46.7, citing resilient recurring business contributions and strong platform advantages.
(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.)
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