Core Insights - The real estate market showed signs of recovery in September, driven primarily by the sales of improved housing options, with 62.5% of the 24 reported companies experiencing a month-on-month increase in sales [1][2] - Differentiated pricing strategies have played a crucial role, with smaller units attracting buyers through lower prices while improved housing options achieve premium pricing [1][7] Sales Performance - Among the 24 companies, leading firms like Poly Developments and China Overseas Land & Investment reported sales exceeding 20 billion yuan in September, indicating robust growth [2][3] - Mid-sized companies also saw significant sales increases, with Yuexiu Property achieving a 23.54% month-on-month growth in September [2][3] Market Dynamics - The recovery pace varies among companies, with some experiencing substantial month-on-month growth due to low sales bases in previous months, such as Ronshine China with a 132.31% increase [3] - The concentration of land acquisition in core cities has led to a 13% year-on-year increase in residential land sales across 300 cities [4][6] Land Acquisition Trends - Companies are focusing on optimizing land reserves, particularly in first- and second-tier cities, with significant investments planned for 2024 [4][5] - The competitive bidding for prime land parcels, such as the one in Beijing, reflects the ongoing demand for quality locations [6] Product Quality and Market Appeal - The introduction of high-quality housing standards has enhanced market attractiveness, with improved housing options meeting the evolving demands of buyers [7][8] - The sales of improved housing units have surged, with a notable increase in the proportion of larger units sold in major cities [8][9]

Core Insights - The real estate market in September showed signs of stabilization and recovery, driven primarily by the demand for improved housing options [1][9] - A total of 24 real estate companies reported sales data, with 15 companies, accounting for 62.5%, experiencing a month-on-month increase in sales [1] - Differentiated pricing strategies have played a crucial role, with smaller units attracting buyers through competitive pricing, while improved housing options achieved premium pricing [1][9] Sales Performance - Among the 24 companies, Poly Developments and China Overseas Development led with sales exceeding 200 billion yuan in September, at 205.31 billion yuan and 201.73 billion yuan respectively [3] - Other notable companies include China Resources Land and China Merchants Shekou, with sales of 176 billion yuan and 166.98 billion yuan [3] - The sales growth for Poly Developments and China Overseas has been consistent, with both companies reporting month-on-month increases for three consecutive months [3] Market Dynamics - Different tiers of companies are experiencing varied recovery rates, with top-tier firms benefiting from scale advantages and mid-tier firms leveraging popular projects to boost sales [3][4] - Companies like R&F Properties saw a significant month-on-month increase of 132.31% in September due to a low sales base in August [4] - The overall market recovery is supported by strong land acquisition strategies focused on first- and second-tier cities, with a reported 13% year-on-year increase in land sales revenue across 300 cities [5] Land Acquisition Trends - Real estate companies are increasingly concentrating their land acquisitions in core cities, with top 20 cities accounting for 61% of the total land sales revenue [5] - China Resources Land acquired 18 new projects in the first half of 2025, with a total investment of 32.28 billion yuan, primarily in first- and second-tier cities [5] - The supply of quality land has increased, providing more options for developers, as seen in Beijing's recent addition of 22 new real estate projects [6] Product Quality and Market Appeal - The introduction of high-quality housing standards has enhanced market attractiveness, with improved housing options meeting the needs of buyers [7] - Recent policy adjustments in major cities have further stimulated demand, allowing for greater flexibility in purchasing [7] - The sales of improved housing options have surged, with a notable increase in the proportion of larger units sold in major cities [8][9]

Company News - Sunny Optical Technology (02382.HK) plans to transfer Shanghai Aolai for approximately 1.903 billion yuan and invest in GoerTek to jointly develop AI/AR optical business [2] - Orient Overseas International (00316.HK) reported a 8.3% decrease in shipping revenue for the first nine months, totaling approximately 6.696 billion USD, with an overall load factor down 1.5% and average revenue per standard container down 12.4% compared to the same period last year [2] - Xiehe New Energy (00182.HK) reported a 0.31% decrease in equity power generation for the first nine months, totaling 6,464.54 GWh, while solar equity power generation increased by 30.69% year-on-year [2] - Fast Retailing (06288.HK) announced annual results for the year ending August 31, 2025, with revenue of 3.400539 trillion yen, a year-on-year increase of 9.6%, and net profit of 433.009 billion yen, up 16.4% [3] - Dongfeng Motor Group (00489.HK) reported cumulative vehicle sales of 1.3168 million units for the first nine months, a year-on-year decline of approximately 3.6% [4] - Gemdale Property (00535.HK) reported a cumulative contract sales amount of approximately 8.533 billion yuan for the first nine months, a year-on-year decrease of 39.81% [4] - Baolong Real Estate (01238.HK) reported a contract sales total of approximately 5.431 billion yuan for the first nine months, down 43.64% year-on-year [4] - Zhengrong Real Estate (06158.HK) reported a cumulative contract sales amount of approximately 3.288 billion yuan for the first nine months, a year-on-year decrease of 32.8% [4] - JINGRUI Holdings (01862.HK) reported a contract sales amount of 740 million yuan for the first nine months, a year-on-year decrease of 49.52% [5] - China Wisdom Energy (01004) withdrew its liquidation petition [5] Shareholding Changes - Flat Glass Group (06865.HK) saw some shareholders and directors reduce their holdings by a total of 29.9803 million shares [6] - CNOOC Services (02883.HK) reported that its controlling shareholder, China National Offshore Oil Corporation, increased its holdings by 16.008 million H-shares over the past six months [6] - China National Offshore Oil Corporation (00883.HK) reported that its actual controller increased its holdings by 22.098 million shares in the past six months [6] - Tencent Holdings (00700.HK) repurchased 816,000 shares at a cost of 551 million HKD, with repurchase prices ranging from 666 to 680.5 HKD [6]

北京商报讯（记者 王寅浩 李晗）10月9日，金地商置披露9月未经审核营运简报。简报显示，9月金地商 置合同销售总额约为9.45亿元，合同销售总面积约为8.58万平方米，销售均价约为1.1万元/平方米。 ...

Core Insights - The company reported a total contract sales amount of approximately 945 million for September 2025, representing a year-on-year decrease of 45.78% [1] - The total contract sales area during the same period was approximately 85,800 square meters, with an average selling price of about 11,000 per square meter [1] - Cumulatively, from January to September 2025, the total contract sales amounted to approximately 8.533 billion, reflecting a year-on-year decrease of 39.81% [1] - The cumulative sales area for the same period was approximately 676,600 square meters [1] Sales Performance - The contract sales for September 2025 decreased significantly compared to the previous year, indicating a challenging market environment [1] - The average selling price per square meter remained relatively stable despite the drop in sales volume [1] - The cumulative sales figures for the first nine months of 2025 show a substantial decline, suggesting ongoing difficulties in the real estate sector [1]

自2025年1月至9月期间的累计合约销售总额约85.33亿元，同比减少39.81%，而累计销售总面积约67.66 万平方米。 金地商置(00535)发布公告，本集团于2025年9月的合约销售总额约9.45亿元，同比减少45.78%，而期内 合约销售总面积约8.58万平方米。期内的销售均价为每平方米约1.1万元。 ...

格隆汇10月9日丨金地商置(00535.HK)发布公告，团于2025年9月的合约销售总额约人民币9.45亿元，而 期内合约销售总面积约8.58万平方米。期内的销售均价为每平方米约人民币11,000元。自2025年1月至9 月期间的累计合约销售总额约人民币85.33亿元，而累计销售总面积约67.66万平方米。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔 任何責任。 （股份代號：535） Gemdale Properties and Investment Corporation Limited 金地商置集團有限公司* （於百慕達註冊成立之有限公司） 承董事會命 金地商置集團有限公司 執行董事 徐家俊 香港，二零二五年十月九日 於本公佈日期，董事會成員包括四名執行董事黃俊燦先生、徐家俊先生、李榮輝先生及韋傳 軍先生；兩名非執行董事 Loh Lian Huat 先生及張斐贇女士，以及三名獨立非執行董事許照 中先生、蔣尚義先生及夏新平先生。 * 僅供識別 二零二五年九月的未經審核營運資料 董事會欣然宣佈，本集團於二零二五年九月的合約銷售總額約人民幣9.45億元，而期內合約 銷售總面積約85,800平方米。期內的銷售均價為每平方米約人民幣11,000元。自二零二五年 一月至九月期間的累計合約銷售總額約人民幣85.33億元，而累計銷售總面積約676,600平方 米。 上述銷售數 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 金地商置集團有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00535 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 40,000,000,000 | HKD | | 0.1 | HKD | | 4,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 40,000,000,000 | HKD | | 0.1 | HKD | | 4,000,000,000 | 本月底 ...

Investment Rating - The report maintains a "Recommended" rating for the real estate industry, expecting the industry index to rise more than 5% over the next 3-6 months compared to the benchmark index [36]. Core Insights - The real estate sector saw a 6.0% increase in the week of September 8-12, 2025, ranking second among 31 primary industry sectors [8][10]. - New housing transactions in 20 cities increased by 5% week-on-week, while second-hand housing transactions rose by 19% [21][26]. - The report highlights effective policy measures, including increased housing purchase subsidies and optimized housing provident fund policies, aimed at stabilizing the real estate market [13][16]. Summary by Sections Industry Basic Data - The total market capitalization of the real estate sector is approximately 1,233.62 billion yuan, with a circulating market value of about 1,183.33 billion yuan [2]. Sales Performance - New housing transaction volume in 20 cities decreased by 1% year-on-year, while second-hand housing transaction volume increased by 8% year-on-year [21][22]. - The average daily transaction area for new homes was 23.7 million square meters, with total transactions reaching 166 million square meters for the week [20][21]. Policy News - Local governments, such as Shenzhen and Henan, have implemented measures to support housing consumption, including subsidies for first and second home purchases and increased loan limits for housing provident funds [13][16]. Company Dynamics - Notable companies reported varying sales figures, with CIFI Holdings achieving approximately 9.6 billion yuan in contract sales for August 2025, while China Jinmao reported 9.08 billion yuan [17][18]. - The report emphasizes the importance of companies with strong product moats and stable rental income from quality commercial real estate [28].