Investment Rating - The report maintains a "Recommended" rating for the industry, suggesting a potential increase of over 15% relative to the benchmark index within the next 12 months [9]. Core Insights - In July 2025, the land supply in 23 key cities in China saw a significant decrease in planned construction area, with a month-on-month decline of 62.9%, totaling 343.9 million square meters [1]. - The total land transaction amount reached 888.88 billion yuan, reflecting a 41% decrease compared to the previous month [1]. - The land transaction premium rate in July 2025 rose to 12.41%, indicating a notable recovery since the beginning of the year [3]. - China Resources Land led the land acquisition with 15 plots, totaling 906.69 billion yuan [3]. Summary by Sections Land Supply and Transactions - In July 2025, 106 residential land plots were launched, with 113 plots successfully transacted, amounting to a total planned construction area of 653.68 million square meters [1]. - The land transaction premium rate has shown a significant increase, indicating a recovery in market confidence [3]. Company Land Acquisition - The report highlights the land acquisition activities of major companies, with China Resources Land acquiring the most plots, followed by Greentown China and China Merchants Shekou [4]. - The average land price per square meter for China Resources Land was 20,422 yuan, while Greentown China had an average of 25,031 yuan per square meter [4]. Investment Recommendations - The report suggests focusing on China Jinmao, which has shown significant land acquisition activity and improvements in corporate governance [4].

2025年7月，龙湖集团实现总合同销售金额人民币60.0亿元，合同销售面积46.8万平方米；单月实现归属 本公司股东权益的合同销售金额人民币40.1亿元，归属本公司股东权益的合同销售面积34.0万平方米。 央广网北京8月11日消息（记者门庭婷）8月8日，龙湖集团发布2025年7月未经审核营运数据。 2025年1—7月，龙湖集团累计实现总合同销售金额人民币410.1亿元，合同销售面积308.2万平方米。 2025年1—7月，龙湖集团实现经营性收入约人民币154.5亿元（含税金额约人民币164.7亿元）；其中运 营收入约人民币81.9亿元（含税金额约人民币87.6亿元），服务收入约人民币72.6亿元（含税金额约人 民币77.1亿元）。 ...

Investment Rating - The report maintains a "Positive" outlook for the real estate industry in China [6]. Core Viewpoints - The report suggests that the recovery of the real estate sector and stock prices does not solely depend on the timing of policy implementation, but rather on the decline of the risk-free interest rate and the reduction of industry risk assessments [2][3]. - The real estate sector is entering a new bottoming phase, with the influence of the denominator (risk-free rate) now outweighing the numerator (fundamental factors), which is expected to lead to a rebound in stock prices [2]. - Confidence in national governance will bolster investor trust in policies aimed at stabilizing the real estate market [2]. Summary by Sections Policy Developments - Beijing's recent policy changes, including the relaxation of purchase restrictions outside the Fifth Ring Road and increased support for housing provident funds, signal a positive shift for the market [4]. - The new policy is expected to stimulate demand in suburban areas, where over 80% of new residential sales occur, aiding in inventory reduction [4]. Investment Recommendations - The report recommends focusing on specific stocks: China Merchants Shekou (001979, Buy), Poly Developments (600048, Buy), Beike-W (02423, Buy), Longfor Group (00960, Buy), and Gemdale Corporation (600383, Accumulate) [9].

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [4]. Core Insights - The overall housing demand in China has reached a bottom, but the recovery of residents' balance sheets may take around two years, leading to a continued downward trend in volume and price [4]. - The report anticipates that policies aimed at stabilizing the market will be introduced, with core cities expected to lead the recovery due to healthier supply-demand dynamics [4]. - The "Good House" policy is expected to create new development tracks, enhancing the market in core cities with lower penetration rates [4]. Industry Data Summary New Housing Transaction Volume - In the week of August 2-8, 2025, new housing transactions in 34 cities totaled 1.758 million square meters, a decrease of 24.3% week-on-week [5]. - Year-on-year, new housing transactions in August (up to August 8) fell by 14.2% compared to July [5][8]. - The transaction-to-launch ratio for new housing was 1.1 times, indicating a slight increase in inventory absorption [22]. Second-Hand Housing Transaction Volume - In the week of August 2-8, 2025, second-hand housing transactions in 13 cities totaled 1.021 million square meters, down 5.2% week-on-week [14]. - Year-to-date, second-hand housing transactions have increased by 5.1% compared to the previous year [14]. Inventory and Market Dynamics - As of August 8, 2025, the total available residential area in 15 cities was 89.04 million square meters, with a slight decrease of 0.1% [22]. - The average months of inventory absorption increased to 20.7 months, indicating a slower pace of sales [22]. Policy and News Tracking - The China Real Estate Association has issued a notice to enhance connections with small and medium-sized real estate companies to support their healthy development [32]. - Fitch Ratings has revised its forecast for new home sales in 2025, reducing the expected decline from 15% to 7% [32]. - Beijing has relaxed purchase restrictions outside the Fifth Ring Road and introduced supportive policies for first-time homebuyers [32][33]. Company Dynamics - Several real estate companies reported their sales for July, with notable declines: - China Overseas Land & Investment reported a monthly sales figure of 11.9 billion yuan, down 11% year-on-year [4]. - Greentown China announced a projected 90% decline in net profit for the first half of 2025 compared to the same period in 2024 [4]. - Huafa Group's convertible bond application has been approved by the regulatory authority [4].

新京报贝壳财经讯 8月8日，龙湖集团公告，截至二零二五年七月末，本集团累计实现总合同销售金额 人民币410.1亿元，合同销售面积308.2万平方米，七月单月实现总合同销售金额人民币60亿元，合同销 售面积46.8万平方米；七月单月实现归属本公司股东权益的合同销售金额人民币40.1亿元，归属本公司 股东权益的合同销售面积34万平方米。 ...

本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【龙湖集团2025年前7个月总合同销售金额达410.1亿元】龙湖集团(00960.HK)晚间公告透露，2025年前 7个月，该集团累计实现总合同销售金额人民币410.1亿元，合同销售面积为308.2万平方米。其中，七月 单月实现总合同销售金额人民币60亿元，合同销售面积46.8万平方米。 ...

格隆汇8月8日丨龙湖集团(00960.HK)公告，截止2025年7月末，集团累计实现总合同销售金额人民币 410.1亿元，合同销售面积308.2万平方米，7月单月实现总合同销售金额人民币60.0亿元，合同销售面积 46.8万平方米；7月单月实现归属公司股东权益的合同销售金额人民币40.1亿元，归属公司股东权益的合 同销售面积34.0万平方米。 截止2025年7月末，集团实现经营性收入约人民币154.5亿元(含税金额约人民币164.7亿元)；其中运营收 入约人民币81.9亿元(含税金额约人民币87.6亿元)，服务收入约人民币72.6亿元(含税金额约人民币77.1亿 元)。 ...

龙湖集团(00960)公布，截止2025年7月末，该集团累计实现总合同销售金额人民币410.1亿元，合同销售 面积308.2万平方米，7月单月实现总合同销售金额人民币60.0亿元，合同销售面积46.8万平方米;7月单 月实现归属公司股东权益的合同销售金额人民币40.1亿元，归属公司股东权益的合同销售面积34.0万平 方米。 截止2025年7月末，该集团实现经营性收入约人民币154.5亿元(含税金额约人民币164.7亿元);其中运营收 入约人民币81.9亿元(含税金额约人民币87.6亿元)，服务收入约人民币72.6亿元(含税金额约人民币77.1亿 元)。 ...

截止2025年 7月末，该集团实现经营性收入约人民币154.5亿元(含税金额约人民币164.7亿元);其中运营 收入约人民币81.9亿元(含税金额约人民币87.6亿元)，服务收入约人民币72.6亿元(含税金额约人民币77.1 亿元)。 智通财经APP讯，龙湖集团(00960)公布，截止2025年7月末，该集团累计实现总合同销售金额人民币 410.1亿元，合同销售面积308.2万平方米，7月单月实现总合同销售金额人民币60.0亿元，合同销售面积 46.8万平方米;7月单月实现归属公司股东权益的合同销售金额人民币40.1亿元，归属公司股东权益的合 同销售面积34.0万平方米。 ...

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告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 二零二五年七月未經審核營運數據 龍 湖 集 團 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事 會（「董事會」）公 佈，截 止 二零二五年七月末，本集團累計實現總合同銷售金額人民幣410.1億元，合同銷售面積308.2萬平方 米，七月單月實現總合同銷售金額人民幣60.0億元，合同銷售面積46.8萬平方米；七月單月實現歸 屬本公司股東權益的合同銷售金額人民幣40.1億元，歸屬本公司股東權益的合同銷售面積34.0萬 平方米。 二零二五年七月單月總合同銷售金額分區域統計結果如下： | 單位：億元人民幣 | 西 部 | 環渤海 | 長三角 | 華 中 | 華 南 | | --- | --- | --- | --- | --- | --- | | 合同銷售金額 | 15.8 | 14.4 | 19.8 | 4.2 | 5.8 | 截 止 二 零 二 五 年 七 月 末，本 ...