Summary by Futu AI
China Overseas Development Corporation has released property sales and land acquisition data for the five months ending on May 31, 2024. In May 2024, the contracted property sales of the company and its affiliates, joint ventures and affiliates were approximately RMB 19.7 billion, a decrease of 32.9% from the same period last year, and the sales area was approximately 1.0129 million square meters, a decrease of 12.0%. From January to May 2024, the cumulative sales amount was approximately RMB 101.701 billion, and the sales area was approximately 3.9685 million square meters, a decrease of 30.8% and 40.4% respectively. The property sales amount that has been subscribed but not converted into contracts is about RMB 16.327 billion. During the same period, the group acquired land use rights with a construction area of about 507,003.67 square meters, and the land transfer fee was approximately RMB 936.755 million. The company emphasized that this data is for reference only for investors and is not an offer to buy or sell securities. The company's shareholders and potential investors should invest cautiously and seek professional advice before investing.