Housing stocks declined again today. As of press release, Sunac China (01918) fell 3.51% to HK$1.65; Vanke Enterprise (02202) fell 3.16% to HK$7.35; Xincheng Development (01030) fell 2.31% to HK$1.27; and China Evergrande (03333) fell 1.88% to HK$0.209.
The Zhitong Finance App learned that domestic housing stocks declined again today. As of press release, Sunac China (01918) fell 3.51% to HK$1.65; Vanke Enterprise (02202) fell 3.16% to HK$7.35; Xincheng Development (01030) fell 2.31% to HK$1.27; and China Evergrande (03333) fell 1.88% to HK$0.209.
According to the news, CITIC Construction Investment released a research report saying that in September, the prices of newly built homes in the 70 largest and medium-sized cities continued to fall on a month-on-month basis; after the policy was relaxed, second-hand housing listing prices declined due to increased supply. New home sales declined slightly month-on-month in October, and second-hand housing remained booming. The sustainability of subsequent recovery remains to be seen.
In addition, Vanke's revenue and net profit for the first nine months fell 14% and 20% year on year. Among them, real estate development revenue fell 17%, overall gross margin narrowed by 3 percentage points, and real estate development business gross margin fell from 20.7% to 18.5%. Yamato lowered Vanke's target price by 20% from HK$10.7 to HK$8.6.