PDH(SH:600048) Zhong Guo Jing Ying Bao·2025-05-31 02:05Core Viewpoint - The recent land auction in Guangzhou indicates a cautious approach from developers, reflecting a rational trend in the local real estate market, influenced by significant differentiation in the new housing market [1][2][5] Group 1: Land Auction Results - On May 30, five residential land parcels were auctioned in Guangzhou, with a total transaction amount of approximately 55.7 billion yuan [1] - Guangzhou Jindi Real Estate Development Co., Ltd., a wholly-owned subsidiary of Poly Developments, won the Tianhe Zhigu parcel for about 22.52 billion yuan, with only one bidding record [1][3] - Agile Group acquired four parcels in Panyu District at base prices totaling approximately 33.17 billion yuan, with an average floor price of 14,081 yuan per square meter [2][5] Group 2: Market Trends - The cautious attitude of developers is attributed to the current significant differentiation in the new housing market, leading them to prefer high liquidity and low-risk land parcels [1][2] - The Panyu District, where Agile Group acquired land, has seen substantial residential transaction volumes, ranking among the top in Guangzhou for 2023 [5] - In May 2023, Guangzhou's residential transaction area reached approximately 70.83 million square meters, marking the highest monthly record for the year, indicating a sustained market recovery [5] Group 3: Company Insights - Agile Group, established in 1993, has a strategic focus on the Guangdong region, expanding its influence across major cities in the Pearl River Delta [2] - Poly Developments has been actively acquiring land in Tianhe District, with a total residential land area exceeding 400,000 square meters since the beginning of 2024 [3][4]