According to research reports by Citic Sec, the real estate industry is closely related to the vital interests of the people, as well as the overall economic operation and financial stability. Under a series of policies, the real estate market in core cities and core areas has shown signs of structural recovery, but the digestion of excess housing inventory still has a long way to go and needs new policies to be put in place. Looking ahead, Citic Sec believes that new destocking policies and gradual improvement of fundamentals are catalysts for the valuation recovery of real estate companies. It is bullish on development companies with smooth financing channels and strong product capabilities, real estate transaction service providers, and property service companies with stable dividends.
中信证券：新的去库存政策和基本面逐步修复是房企估值修复的催化剂
Citic sec: New destocking policies and gradual fundamental repairs are catalysts for property developer valuation corrections.
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