The Zhitong Finance App learned that most of the property management stocks had risen. As of press release, Country Garden Services (06098) rose 14.64% to HK$9.63; Shimao Services (00873) rose 5.33% to HK$1.78; Hejing Youhuo (03913) rose 4.26% to HK$0.98; New Hope Service (03658) rose 3.39% to HK$1.22; Baolong Commercial (09909) rose 3.18% to HK$4.22.
Dongwu Securities pointed out that the implementation of the policy and the subsequent restoration of fundamentals will drive a continuous recovery in real estate stock valuations. At the same time, due to the decline in the impact of the pandemic brought about profit recovery, property stocks are expected to experience a double hit by valuation+performance. It is recommended to pay attention to investment opportunities in the property industry. Furthermore, Country Garden Services announced that it believes the current level of stock trading prices does not fully reflect the group's intrinsic value. Therefore, it is intended to repurchase no more than 337 million shares on the open market in accordance with the authorization, which is equivalent to 10% of the company's share capital.