Mainland property stocks continued to fall. As of press time, Times China (01233) fell 3.57% to HK$1.35;R&F Properties(02777) fell 3.29% to HK$2.06;Vanke(02202) fell 3.19% to HK$15.18;KWG Group(01813) fell 2.55% to HK$1.91.
BOCOM InternationalAccording to the research report released, according to the preliminary data of Kerui, the contracted sales of the top 100 developers in China in January decreased by 47.4%/31.7% to RMB 399.4 billion, due to the early Spring Festival holiday this year and the lack of new projects in major cities. sell. BoCom expects sales in February to improve against a low base, but a substantial recovery still awaits the restoration of homebuyer confidence.
The bank stated that A-share listed developers announced their performance forecasts for fiscal year 2022, and the performance of most major developers has deteriorated, mainly due to the decline in revenue. As many developers’ FY22 results are expected to deteriorate, the bank advises investors to continue to focus on SOE developers with better earnings quality.
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