惠誉上调越秀地产展望，确认维持投资级评级

Core Viewpoint - Fitch Ratings has upgraded the rating outlook of Yuexiu Property to stable and confirmed its investment-grade rating of "BBB-", marking the first upgrade of a property company's rating outlook this year [1] Group 1: Financial Performance - Yuexiu Property has demonstrated strong sales growth in 2023, with contract sales reaching 50.7 billion, a year-on-year increase of 26.5%, achieving 42.1% of its annual sales target by May [1] - The company ranked first in Beijing with sales of 19.13 billion from January to May, with two major projects topping the residential transaction amounts in the city [1] - In its home base of Guangzhou, several projects have dominated sales rankings in April and May [1] Group 2: Market Position and Strategy - Analysts highlight that Yuexiu's advantages in investment layout and product strength have laid a solid foundation for sustained sales growth, allowing it to maintain a leading market position in first- and second-tier cities [1] - Typically, property companies see sales peak in the second half of the year, but Yuexiu has already completed nearly half of its annual sales target in the first five months, providing favorable support for achieving performance targets in the latter half of the year [1] Group 3: Future Prospects - Yuexiu has successfully acquired multiple high-quality land parcels in core first- and second-tier cities this year, which will effectively support rapid sales turnover in the future [2] - From January to May, the company secured 10 premium land plots in key cities such as Guangzhou, Beijing, Shanghai, and Hangzhou, ensuring ample quality resources for future sales [2]