The Zhitong Finance App learned that property management stocks fell along with domestic housing stocks today. As of press release, Evergrande Property (06666) fell 6.45% to HK$0.58; Poly Property (06049) fell 5.25% to HK$25.25; Country Garden Services (06098) fell 4.41% to HK$5.42; and Elegant Life Services (03319) fell 3.82% to HK$3.78.
According to the news, according to the January-February 2024 sales performance ranking data released by Kerrey, the sales volume of the top 100 real estate companies reached 420.92 billion yuan, up from the same period in 23, and an increase of 14.4 percentage points over January. Haitong International pointed out that recently, although local policies have been continuously optimized and released well, due to the influence of the Spring Festival holiday, market supply and demand were weak in February. We recommend following up on the success of “Xiaoyangchun”.
In addition, data shows that in February 2024, the total financing volume of 65 typical housing enterprises was 21.887 billion yuan, a decrease of 47.2% month-on-month and a year-on-year decrease of 49.3%, setting a new low in monthly financing since 2021. Dongwu Securities pointed out that the real estate industry is undergoing major marginal changes. Property companies' short-term transactions are the target of recovery in anticipation of death, and the most flexible target is the company with the greatest market differences over whether major shareholders/related developers can survive. Performance is not the core factor affecting short-term trends.