Core Viewpoint - Longfor Group has allocated approximately 950 million RMB to a payment account for the redemption of the "20 Longfor 06" bond maturing on August 7, 2023 [1] Group 1: Bond Redemption Details - The "20 Longfor 06" bond has an issuance date of August 7, 2020, with a term of 7 years (5+2) and a total issuance size of 1 billion RMB, carrying an interest rate of 4.3% [1] - The total amount for this redemption is 950.44 million RMB, which includes 907.44 million RMB in principal and 43 million RMB in interest [1] Group 2: Previous Redemptions in 2023 - In 2023, Longfor Group has timely redeemed multiple domestic public bonds, including the "22 Longfor 04" bond on July 3, totaling 1.766 billion RMB [1] - On July 11, Longfor completed a payment of 522.5 million RMB for the "20 Longfor Expansion MTN001B" bond maturing on July 15 [1] Group 3: Overall Debt Repayment Status - After the completion of the "20 Longfor 06" redemption, Longfor has cumulatively redeemed over 10 billion RMB in public bonds this year, fully repaying all maturing credit bonds [1]

Core Viewpoint - Longfor Group (00960) has allocated approximately RMB 950 million to a payment account for the redemption of the "20 Longfor 06" bond maturing on August 7, 2023 [1] Group 1: Bond Redemption Details - The "20 Longfor 06" bond has an issuance date of August 7, 2020, with a term of 7 years (5+2) and a total issuance size of RMB 1 billion, carrying an interest rate of 4.3% [1] - The total amount for this redemption is RMB 950.44 million, which includes principal repayment of RMB 907.44 million and interest of RMB 43 million [1] Group 2: Year-to-Date Bond Payments - Longfor Group has successfully redeemed multiple domestic public bonds this year, including the "22 Longfor 04" bond on July 3, with a total payment of RMB 1.766 billion [1] - On July 11, the company completed a payment of RMB 52.25 million for the "20 Longfor Expansion MTN001B" bond due on July 15 [1] - After the redemption of "20 Longfor 06," the total amount of public bond redemptions by Longfor in 2023 has exceeded RMB 10 billion, with all maturing credit bonds for the year fully repaid [1]

Core Viewpoint - Longfor has allocated approximately 950 million yuan to a bond repayment account for the repayment of the "20 Longfor 06" bond maturing on August 7 [1] Summary by Relevant Sections - **Bond Details** - The "20 Longfor 06" bond has an issuance date of August 7, 2020, with a term of 7 years (5+2) and a total issuance size of 1 billion yuan, carrying an interest rate of 4.3% [1] - **Repayment Amount** - The total repayment amount for this bond is 950.44 million yuan, which includes a principal repayment of 907.44 million yuan and interest of 43 million yuan [1] - **Cumulative Repayment** - After the completion of the "20 Longfor 06" repayment, Longfor has cumulatively repaid over 10 billion yuan in public bonds within the year [1]

Core Insights - Longfor has allocated approximately 950 million yuan to a bond repayment account for the upcoming maturity of "20 Longfor 06" on August 7 [1] - The bond "20 Longfor 06" was issued on August 7, 2020, with a term of 7 years (5+2) and a total issuance size of 1 billion yuan at an interest rate of 4.3% [1] - Following the repayment of "20 Longfor 06," Longfor has cumulatively repaid over 10 billion yuan in public bonds this year [1]

Core Insights - In July 2025, both supply and demand for new residential properties in Beijing weakened, with a total of 365,600 square meters signed online [1] - The Beijing land market saw a slowdown in supply, with only two plots sold, located in Changping and Yanqing, totaling a planned construction area of 126,500 square meters and a land transfer fee of 1.929 billion yuan, with an average floor price of 15,254 yuan per square meter [1][9] Sales Performance - From January to July 2025, the top 20 real estate companies in Beijing achieved a total sales revenue of 195.08 billion yuan and a total sales area of 3.747 million square meters [2][3] - China Overseas Land & Investment, China Resources Land, and Yuexiu Property ranked as the top three companies by sales revenue, with sales of 27.99 billion yuan, 22.43 billion yuan, and 19.58 billion yuan respectively [2][3] Market Conditions - The new housing market in Beijing experienced a decline in both supply and demand during the traditional off-season, with new supply of 189,300 square meters and total online signed transactions of 365,600 square meters in July [7] - The land market in Beijing saw a total of two plots sold in July, with a combined land transfer fee of 1.929 billion yuan and a floor price of 15,254 yuan per square meter [9] Policy Developments - On July 31, 2025, the Beijing Municipal Government issued a notice to improve housing support policies, emphasizing the need to increase the supply of affordable housing and provide priority allocation for families with multiple children [6]

底价成交 《华夏时报》记者了解到，新城东区二期地块位于昌平南邵镇北六环区域外，距离地铁昌平线北邵洼站 步行约800米。该宗地块的土地面积为6.27万平米，总建筑规模为9.03万平米，起始价为13.69亿元。 房地产土拍市场出现了一个有趣现象，央国企持续担任主力军的角色，而一些"名不见经传"的民企也开 始在市场上扫货。 7月31日，北京昌平的新城东区二期地块成功出让，而拿地的房企为成立不久的北京新恩祥睿泽置业有 限公司（下称：新恩祥睿泽），其背后为河北武安市明芳房地产开发有限公司（下称：明芳地产）。 《华夏时报》记者了解到，龙湖集团控股有限公司（00960.HK）（下称：龙湖集团）旗下的龙湖龙智 造将参与地块项目的代建。 8月1日，关于此次拿地以及未来一段时间的拿地计划，《华夏时报》记者在太行钢铁官网进行了采访需 求留言，但截至发稿未得到回复。 《华夏时报》记者注意到，近期，许多民营房企新身影现身土拍市场。7月底，位于上海徐汇的横复地 块成交，成交价约12.25亿元，溢价率为22.38%，成交楼面价达到20.03万元/平米，而将这一明星地块收 入囊中的是上海祺祥旺宇置业有限公司，在今年1月份才成立，唯一股东是自 ...

Core Insights - The real estate market in July experienced a seasonal decline in supply and demand, reflected in the sales performance of real estate companies [2][4] - The total sales amount of the top 100 real estate companies from January to July was 20,730.1 billion yuan, a year-on-year decrease of 13.3% [4] - The sales performance of leading real estate companies remained stable, with the top 10 companies showing a sales threshold increase of 5% year-on-year [2][4] Sales Performance - In July, the sales amount of the top 100 real estate companies decreased by 18.2% year-on-year [2][6] - The top three companies by sales in the first seven months were Poly Developments (1,632 billion yuan), Greentown China (1,368 billion yuan), and China Overseas Land & Investment (1,319 billion yuan) [3][4] - The number of "billion-dollar" real estate companies increased to five this year, with an average sales amount of 1,320.1 billion yuan [11] Market Trends - The overall transaction volume of new homes in 30 key cities was 836 million square meters in July, down from 1,034 million square meters in June [14] - The cumulative transaction volume for the first seven months remained roughly flat compared to the previous year [14] - The market is expected to see a low-level fluctuation in new home transactions, with a projected year-on-year decline of less than 5% [14] Policy and Future Outlook - The Central Political Bureau meeting emphasized the need for stable and flexible macroeconomic policies to boost market confidence [15] - Various cities have introduced new policies to enhance supply quality and meet diverse housing needs, including optimizing public housing loan policies [15] - The real estate market is still in a phase of adjustment, with structural opportunities in "good cities + good houses" expected to emerge [15]

Core Viewpoint - The China Securities Hong Kong Stock Connect Real Estate Index has shown positive performance over the past month, three months, and year-to-date, indicating a strong recovery in the real estate sector [2]. Group 1: Index Performance - The China Securities Hong Kong Stock Connect Real Estate Index increased by 3.04% over the past month, 9.88% over the past three months, and 13.08% year-to-date [2]. - The index is based on a sample of up to 50 eligible Hong Kong-listed companies that reflect the overall performance of the real estate sector [2]. Group 2: Index Composition - The top ten weighted companies in the index are: Sun Hung Kai Properties (14.11%), Beike-W (12.73%), China Resources Land (10.83%), Cheung Kong Property (7.94%), China Overseas Land & Investment (6.28%), Wharf Real Estate Investment (4.72%), Sino Land (4.39%), Henderson Land Development (4.22%), Longfor Group (2.85%), and Wharf Holdings (2.83%) [2]. - The index is composed entirely of real estate companies, with 100% of its holdings in the real estate sector [3]. Group 3: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [3]. - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or when new companies meet the criteria for inclusion [3].

Group 1 - The core viewpoint indicates that the performance of the top 100 real estate companies in July 2025 showed a significant decline, with sales amounting to 236.6 billion yuan, a year-on-year decrease of 18.2% [1] - Only about 30% of the top 100 real estate companies achieved positive year-on-year sales growth in July [1] - Cumulative sales for the top 100 real estate companies from January to July 2025 reached 2,073.01 billion yuan, reflecting a year-on-year decline of 13.3% [1] Group 2 - Among the top real estate companies, only five surpassed 100 billion yuan in sales, with Poly Developments leading at 163.2 billion yuan [2] - The land market in core cities remains active, with total land acquisition by the top 100 companies reaching 578.3 billion yuan from January to July 2025, a year-on-year increase of 34.3% [2] - The competition for quality land in core cities is intense, with record-breaking land prices, such as a plot in Shanghai's Xuhui District selling for 200,000 yuan per square meter [2] Group 3 - Fitch Ratings emphasizes that actively acquiring land is crucial for Chinese rated real estate companies to maintain competitiveness, as new land sales typically outpace old inventory [3] - The supply of residential land in first-tier cities has increased significantly this year, with varying trends in land prices across cities [3] - The central government's macro policy aims to enhance stability and flexibility, with a focus on high-quality urban renewal as a key development strategy [3]

智通财经8月1日讯（记者 李洁）随着房地产行业进入传统淡季，百强房企7月业绩出现幅度不小的回 落。 中指院数据显示，2025年7月单月，TOP100房企销售额2366亿元，同比下降18.2%。另据国泰海通证券 数据，7月仅有近3成百强房企单月销售同比实现正增长。 "在止跌回稳政策组合拳催化下，2025年以来新房销售市场呈反复波动态势，经历2月改善后，3-4月边 际回落，5月销售有所改善后，6月热度又开始回落，7月则延续保持低位。"申万宏源分析师袁豪表示。 从新增货值来看，绿城中国、中海地产和保利发展位列前三，其中绿城中国以1116亿元新增货值占据榜 单第一，中海地产以935亿元新增货值位列第二，保利发展新增货值规模为907亿元，位列第三。 "2025年7月，核心城市优质地块竞争依旧激烈，一方面，企业竞拍热情高涨，数十轮竞价争夺优质地 块。另一方面，拿地楼面价屡破纪录，如上海徐汇区一地块以20万元/平方米的成交楼面价刷新了全国 成交楼面价纪录，进一步说明房企对优质地块争夺的激烈程度。"陶淑茹称。 惠誉评级亚太区企业评级董事石露露认为，积极拿地仍是中国受评房企保持竞争力的关键因素。由于新 地块的销售速度通常快于旧 ...