Core Viewpoint - Yuexiu Property (00123) shows strong sales performance with a significant increase in contract sales in July and the first seven months of the year, indicating a solid foundation for future growth [1] Group 1: Sales Performance - In July, Yuexiu Property reported contract sales amounting to approximately 6.006 billion yuan, a year-on-year increase of 19.5% [1] - For the first seven months of the year, the cumulative contract sales reached approximately 67.506 billion yuan, reflecting a year-on-year growth of about 11.7% [1] - The cumulative contract sales area for the same period was approximately 1.6363 million square meters [1] Group 2: Sales Target Achievement - As of the end of July, the cumulative contract sales of 67.506 billion yuan accounted for 56% of the company's 2025 contract sales target of 120.5 billion yuan [1] Group 3: Market Position and Outlook - Fitch Ratings noted that Yuexiu's advantages in investment layout and product strength have laid a solid foundation for sustained sales growth, reinforcing its market leadership in first- and second-tier cities [1] - Typically, property companies see a surge in sales during the second half of the year, but Yuexiu has already achieved nearly half of its annual sales target in the first five months, positioning itself favorably for the second half [1] - The company maintains a strong sales growth momentum, positive operating cash flow, stable leverage at a moderate level, and smooth financing channels, which are key factors for the upward outlook [1]

Group 1 - The core viewpoint indicates that real estate stocks in China have seen significant gains, with notable increases in companies such as Jianfa International Group (up 5.24%), China Jinmao (up 4.17%), and others, driven by policy optimizations in major cities since July [1] - Key cities like Beijing, Guangzhou, Nanjing, and Dalian have improved housing fund loan policies, including increasing loan amounts, optimizing withdrawals, and extending repayment periods [1] - The Central Political Bureau meeting on July 30 suggested that future policies in the real estate sector will focus on stabilizing the market, with potential initiatives including "urban renewal" and the renovation of dilapidated urban villages [1] Group 2 - Some market investors are optimistic about the potential for short-term real estate stimulus policies, although the recent Political Bureau meeting did not directly address these policies, leading to a more pessimistic outlook for the industry [2] - The industry is transitioning from a focus on short-term stimulus to exploring new development models, which aligns with the current industry logic amid decreasing risks [2] - The overall assessment of the real estate sector is that it is in a bottoming phase, with decreasing risk-free interest rates and improved risk evaluations contributing to rising market sentiment and stock price opportunities [2]

Group 1 - The core viewpoint indicates that real estate stocks have seen significant gains, with notable increases in companies such as Jianfa International Group (up 5.24%), China Jinmao (up 4.17%), and others, driven by policy optimizations in major cities since July [1] - Key cities like Beijing, Guangzhou, Nanjing, and Dalian have improved housing fund loan policies, including increasing loan amounts, optimizing withdrawals, and extending repayment periods [1] - The Central Political Bureau meeting on July 30 suggested that future policies in the real estate sector will focus on stabilizing the market, with potential demands for urban renewal and the renovation of old urban villages [1] Group 2 - Eastern Securities noted that some investors are optimistic about short-term real estate stimulus policies, but the recent Political Bureau meeting did not directly address these policies, leading to a pessimistic outlook for the industry [2] - The industry is transitioning from short-term stimulus expectations to exploring new development models, which aligns with the current industry logic [2] - The overall assessment of the real estate sector is that it is in a bottoming phase, with decreasing risk-free interest rates and improved risk evaluations contributing to rising market risk appetite and stock price opportunities [2]

Group 1 - The core viewpoint indicates that real estate stocks in China have seen significant gains, with notable increases in companies such as Jianfa International Group (up 5.24%) and China Jinmao (up 4.17%) as of the latest report [1] - Key cities have been optimizing real estate policies since July, including adjustments to public housing loan policies in cities like Beijing, Guangzhou, Nanjing, and Dalian [1] - The Central Political Bureau meeting on July 30 suggested that future policy measures in the real estate sector will focus on stabilizing the market, with potential demand from urban renewal and renovation of old urban villages [1] Group 2 - Some market investors are optimistic about the potential for short-term real estate stimulus policies, although the recent Political Bureau meeting did not directly address these policies, leading to a more pessimistic outlook for the industry [2] - The industry is viewed as being in a bottoming phase, with a decrease in risk-free interest rates and a recovery in risk assessment for the real estate sector, which may lead to upward price movements in real estate stocks [2]

2025年7月，越秀地产实现合同销售（连同合营及联营公司项目的合同销售）金额约为人民币60.06亿 元，同比上升约19.5%，实现合同销售面积约为17.42万平方米，同比下降约18.9%。 2025年1—7月，越秀地产累计合同销售（连同合营及联营公司项目的合同销售）金额约为人民币675.06 亿元，同比上升约11.7%，累计合同销售面积约为163.63万平方米，同比下降约21.9%。累计合同销售金 额约占2025年合同销售目标人民币1205亿元的56.0%。 央广网北京8月7日消息（记者门庭婷）8月6日，越秀地产发布截至2025年7月31日未经审计销售资料。 ...

Core Viewpoint - The Hong Kong real estate stocks have generally risen, with notable increases in companies such as China Jinmao and Jianfa International Group, indicating a potential recovery in the market [1] Group 1: Market Performance - Hong Kong real estate stocks saw significant gains, with China Jinmao and Jianfa International Group rising over 4%, and Yuexiu Property increasing by 2.6% [1] - Other companies like Longfor Group, CIFI Holdings, Shimao Group, and R&F Properties also experienced gains exceeding 1% [1] Group 2: Market Outlook - Huatai Securities' research report suggests that the foundation for a medium to long-term stabilization in the real estate market is being established, although full recovery will take time [1] - The report outlines potential policy directions for the second half of the year, including stabilizing housing price expectations, effectively stimulating home-buying demand, optimizing land acquisition to reduce inventory, and focusing on funding sources for urban renewal [1] Group 3: Investment Recommendations - Huatai Securities favors the recovery pace in core cities, particularly first-tier cities, and continues to recommend developers with "good credit, good cities, and good products" [1] - The report also highlights the attractiveness of leading property management companies with stable dividends and performance, as well as local Hong Kong real estate stocks benefiting from asset revaluation [1]

Group 1: Housing Fund Policy Adjustment - Wenzhou has optimized and adjusted multiple housing fund policies to support rigid and improved housing demand, increasing the maximum loan limit for couples from 1 million to 1.3 million yuan and for single contributors from 650,000 to 800,000 yuan, enhancing purchasing power for contributors [1] Group 2: Sales Performance of Real Estate Companies - China Overseas Development reported a contract property sales amount of approximately 11.85 billion yuan in July, a year-on-year decrease of 10.2%, with a sales area of about 660,200 square meters, an increase of 20.8% [2] - Yuexiu Property disclosed a contract sales amount of approximately 6.006 billion yuan in July, a year-on-year increase of about 19.5%, with a contract sales area of approximately 174,200 square meters, a year-on-year decrease of about 18.9% [3] - Poly Real Estate reported a contract sales amount of approximately 2.8 billion yuan in July, with a contract sales area of about 95,000 square meters and an average contract sales price of approximately 29,300 yuan per square meter [4] - Agile Group announced a total pre-sale amount of approximately 520 million yuan in July, corresponding to a construction area of 59,000 square meters, with an average price of approximately 8,810 yuan per square meter [5]

Performance Highlights - BeiGene (06160.HK) reported a revenue of 17.518 billion yuan for the first half of the year, a year-on-year increase of 46%; product revenue was 17.36 billion yuan, up 45.8%; net profit was 450 million yuan, turning from loss to profit [2] - Uni-President China (00220.HK) achieved approximately 17.087 billion yuan in revenue for the first half, a year-on-year increase of 10.6%; net profit was about 1.287 billion yuan, up 33.2% [2] - Zhiyu City Technology (09911.HK) announced a positive profit forecast, expecting mid-term revenue of approximately 3.135 to 3.215 billion yuan, a year-on-year increase of about 38.0% to 41.5%; net profit is expected to be around 470 to 510 million yuan, a year-on-year growth of approximately 108.9% to 126.7% [2] Earnings Forecasts - New World Development Company (00086.HK) expects mid-term net profit to increase to no less than 800 million HKD year-on-year [3] - Weizhi Jinkou (02003.HK) anticipates mid-term net profit exceeding 200 million HKD, a significant increase year-on-year [3] - Wing Chan Industrial (01596.HK) forecasts mid-term net profit of approximately 48.7 million HKD, turning from loss to profit [3] - Huaxian Optoelectronics (00334.HK) expects mid-term net profit to exceed 48.8 million HKD, a year-on-year increase of over 600% [3] - Maifushi (02556.HK) predicts mid-term net profit of approximately 31.8 to 41 million HKD, turning from loss to profit [4] - Xinwei Medical-B (06609.HK) expects mid-term net profit to exceed 40 million HKD, turning from loss to profit [5] - China Nuclear Technology (00611.HK) anticipates mid-term net profit growth of over 15% [6] Earnings Warnings - Hongxing Printing Group (00450.HK) expects mid-term net loss of approximately 49 million HKD, a significant increase year-on-year [7] - Zhongyu Land (01224.HK) forecasts mid-term net loss of approximately 40 million HKD, turning from profit to loss [7] - Beihai Group (00701.HK) anticipates mid-term net loss of 36 to 40 million HKD [8] Real Estate Sales Data - China Overseas Development (00688.HK) reported cumulative contract property sales of approximately 132 billion yuan for the first seven months, a year-on-year decrease of 18.3% [9] - Yuexiu Property (00123.HK) achieved cumulative contract sales of approximately 67.506 billion yuan for the first seven months, a year-on-year increase of about 11.7% [9] - Poly Property Group (00119.HK) reported contract sales of approximately 29.5 billion yuan for the first seven months, a year-on-year decrease of 13.49% [10] - China Overseas Hongyang Group (00081.HK) reported cumulative contract sales of 18.649 billion yuan for the first seven months, a year-on-year decrease of 12.2% [10] - Jindi Commercial Real Estate (00535.HK) reported cumulative contract sales of approximately 6.98 billion yuan for the first seven months, a year-on-year decrease of 37.37% [10] - Agile Group (03383.HK) reported pre-sale amount of approximately 5.69 billion yuan for the first seven months [11] - Hongyang Real Estate (01996.HK) reported cumulative contract sales of 3.208 billion yuan for the first seven months, a year-on-year decrease of 41.6% [12] - Zhengrong Real Estate (06158.HK) reported cumulative contract sales of approximately 2.701 billion yuan for the first seven months, a year-on-year decrease of 30.6% [12] - Jingrui Holdings (01862.HK) reported cumulative contract sales of approximately 571 million yuan for the first seven months, a year-on-year decrease of 52.54% [13] Company News - CITIC Securities (06030.HK) reported that its subsidiary, Huaxia Fund, achieved revenue of 4.258 billion yuan and net profit of 1.123 billion yuan in the first half, with assets under management totaling 285.1237 billion yuan [14] - Xinyi International (00732.HK) reported a cumulative operating revenue of approximately 9.566 billion HKD for the first seven months, a year-on-year decrease of about 5.3% [15] - Heng Rui Pharmaceutical (01276.HK) received orphan drug designation from the US FDA for its injection of Rikan Trastuzumab combined with Adebali for gastric cancer or gastroesophageal junction adenocarcinoma indications [15] - Fuhong Hanlin (02696.HK) completed the first patient dosing in a Phase II clinical study of HLX79 injection combined with Hanlikang® for active renal glomerulonephritis in China [15] - China Biopharmaceutical (01177.HK) announced that its self-developed TQ05105 (JAK/ROCK inhibitor) has been included in the breakthrough therapy designation program for the treatment of chronic graft-versus-host disease [15] Buyback Activities - HSBC Holdings (00005.HK) repurchased approximately 1.65 billion HKD worth of about 1.714 million shares at a price of 95.8 to 96.75 HKD [16] - Hang Seng Bank (00011.HK) spent approximately 22.6347 million HKD to repurchase 200,000 shares at a price of 112.8 to 113.6 HKD [17] - Yum China (09987.HK) repurchased approximately 6.264 million HKD worth of 16,800 shares at a price of 369.8 to 376 HKD [17]

北京商报讯（记者 王寅浩 李晗）8月6日，越秀地产披露7月未经审计的销售简报。简报显示，7月越秀 地产实现合同销售（连同合营及联营公司项目的合同销售）金额约为60.06亿元，同比上升约19.5%，实 现合同销售面积约为17.42万平方米，同比下降约18.9%。 ...

每经AI快讯，越秀地产8月6日在港交所公告，2025年7月，公司实现合同销售金额约为人民币60.06亿 元，同比上升约19.5%；实现合同销售面积约为17.42万平方米，同比下降约18.9%。2025年1-7月，公司 累计合同销售金额约为人民币675.06亿元，同比上升约11.7%，累计合同销售面积约为163.63万平方 米，同比下降约21.9%。累计合同销售金额约占2025年合同销售目标人民币1205亿元的56%，2025年7 月，公司没有新增土地储备。 ...