According to a report published by Shenyin Wanguo, although Country Garden's sales picked up with the market last month, the growth rate fell short of the industry average, did not support the company's position with the second highest valuation in the industry, and reaffirmed its “neutral” rating. The target price for six months remained at 2.95 yuan. Shen Wan pointed out that unless the government introduces a new property market regulation policy, which highlights the company's rigid demand position and defensive nature as an ordinary housing developer, the company's valuation is too high, and investors should not favor Country Garden because the company's stock price has only risen 10% since the beginning of the year. According to Shen Wan, the domestic housing industry achieved an average of 37% month-on-month growth and 43% year-on-year growth last month, higher than Country Garden's sales of 20% and 22% month-on-year growth last month.