Property management stocks rose along with domestic housing stocks. As of press release, Songdu Services (09608) rose 14.68% to HK$0.25; Xincheng Yue Service (01755) rose 6.55% to HK$2.44; Wanwuyun (02602) rose 5.33% to HK$18.98; and Yuexiu Services (06626) rose 2.91% to HK$2.83.
The Zhitong Finance App learned that property management stocks rose along with domestic housing stocks. As of press release, Songdu Services (09608) rose 14.68% to HK$0.25; Xincheng Yue Service (01755) rose 6.55% to HK$2.44; Wanwuyun (02602) rose 5.33% to HK$18.98; and Yuexiu Services (06626) rose 2.91% to HK$2.83.
China Post Securities believes that under the dual influence of the high base of “Xiaoyangchun” in 2023 and the late Spring Festival this year, new housing transactions have recently declined significantly year on year, but real estate policies continue to be relaxed, and it is expected that the decline in new housing transactions will continue to narrow in the future. Last week, Hangzhou lifted restrictions on second-hand housing purchases. We believe that there is still room for optimization of key city policies, which is conducive to further releasing demand for housing purchases and boosting market sentiment. The second-hand housing market continues to pick up, and the transaction area of the 10 key cities has been rising sequentially for four consecutive weeks.
Everbright Securities recently pointed out that the 2023H1 key property companies' net profit growth rate bottomed out and the impact on real estate-related business weakened. At the same time, the growth rate of trade receivables was controlled, provision for impairment was sufficient, basic property management grew steadily, community value-added business resumed, and property companies gradually lost their “real estate attributes” and increased their “service consumption” attributes.