The Zhitong Finance App learned that the property management stock continued to rise. As of press release, Lottery Life (01778) rose 6.25% to HK$0.51; Country Garden Service (06098) rose 6.14% to HK$9.86; Riverside Service (03316) rose 5.14% to HK$20.65; Shimao Services (00873) rose 4% to HK$1.56; Greentown Services (02869) rose 3.77% to HK$3.85.
According to the news, the central bank and two other departments said that the policy period for financial support for the real estate market will be extended until December 31, 2024. Guojin Securities pointed out that the extension of the “16 Financial Rules” support policy provides more time for risk mitigation in the industry and helps the steady progress of reshaping the industry pattern. CITIC Securities said earlier that in the long run, relevant real estate policies may greatly relieve the pressure on old property management industry service costs and promote the creation of a new profit model for pioneering Chinese asset investment. In the medium term, the property management sector is the first choice for the entire real estate industry chain. The bank believes that property management companies match the most positive and promising direction of China's real estate policy, and that current valuations are extremely attractive.