Glonghui, December 4 | According to a research report published by Bank International, Agile's total contract sales for the first ten months of this year were 39.69 billion yuan, with a sales area of about 2.66 million square meters, and an average sales price of 14,918 yuan per square meter. Including sales in November, the company's contract sales volume from year to date has exceeded 40 billion yuan. Although the primary market removal rate declined in the second and third quarters, the Group's average monthly sales volume remained around $4 billion. The bank believes this is sufficient to cover monthly operating costs and construction capital expenses. The bank mentioned that due to the increase in the Group's provisions and difficulties in decontamination, the gross margin for the first half of the year was only about 10%, while the group expects the development profit margin to remain around 10%. The bank said that even though Ya Life's contribution to profit margins continues to increase, Agile still expects Agile's overall gross margin to remain below 20% from 2023 to 24. Also, since the term of the Group's syndicated loans has been extended or renewed many times in the past, it is believed that the next two additional Chinese bonds can also be extended. The bank said that the group is one of very few private enterprise developers that have not defaulted on offshore dollar bonds and can extend most of their debts. The bank lowered its target price to HK$1.16 to maintain its “buy” rating. It believes that once the effects of the policy are introduced, the company will still be able to regain buyers' confidence and increase market share to improve profit margins.