According to the Futu Securities app, mainland real estate stocks fell significantly in early trading. As of the time of publication, C&D Intl Group (01908) fell by 8.24%, to HK$11.58; Zhongliang Hldg (02772) fell by 6.45%, to HK$0.087; Sino-Ocean GP (03377) fell by 3.64%, to HK$0.265; Yuexiu Property (00123) fell by 3.19%, to HK$3.95.

On the news front, according to China Index Academy, the total sales volume of the top 100 real estate companies from January to August this year was 2683.24 billion yuan, a decrease of 38.5% year-on-year, with a decrease of 1.6 percentage points from the previous month. In August, the sales volume of the top 100 real estate companies decreased by 22.1% year-on-year, a decrease of 2.43% from the previous month. According to CRIC statistics, in August, the top 100 real estate companies achieved a total sales turnover of 251.2 billion yuan, a 10% decrease month-on-month, and the monthly performance scale continued to remain at a historically low level.

Furthermore, as of August 30, 2024, more than 100 A-share and H-share real estate companies have released their mid-year performance announcements for 2024. According to data from China Index Academy, in the first half of the year, the average revenue of 105 A-share and H-share real estate companies was 11.591 billion yuan, a year-on-year decrease of 13.00%; the average net income was 0.145 billion yuan, a year-on-year decrease of 82.05%. Listed real estate companies continued to weaken in terms of profitability, with a significant decline in net income. 72 companies saw a year-on-year decrease in revenue, 87 companies saw a year-on-year decrease in net income, and 50 companies experienced losses, including 24 companies experiencing losses for the first time since the outbreak of the pandemic.