Sou Hu Cai Jing·2025-07-18 13:17Sales Performance - In June, China Resources Land (01109.HK) reported a total contract sales amount of approximately 23.45 billion yuan, a year-on-year decrease of 26.7% [1] - For the first half of 2025, the cumulative contract sales amount was approximately 110.3 billion yuan, a year-on-year decrease of 11.6% [1] - The total contract sales area for the first half of 2025 was approximately 4.119 million square meters, down 21% year-on-year [1] Land Acquisition Strategy - In the first half of 2025, China Resources Land invested 33.2 billion yuan to acquire 18 land parcels, representing an 81% increase compared to the same period last year [3] - The company acquired four quality land parcels in January 2025 in cities like Beijing and Chengdu, with a total floor area of 417,041 square meters and a total consideration of approximately 9.35 billion yuan [3] - In June, the company continued its aggressive land acquisition strategy, purchasing four parcels in Beijing, Xi'an, and Hefei, with a total floor area of approximately 268,556 square meters and a consideration of about 1.98 billion yuan [5] Financial Support and Market Position - To support its land acquisition activities, China Resources Land secured an offshore loan agreement of 5.85 billion yuan with specific banks and financial institutions [5] - The company’s land reserve as of the end of 2024 was 43.9 million square meters, with 71% located in first and second-tier cities, indicating a strategic focus on core urban areas [6] - Despite a challenging market environment for many real estate companies, China Resources Land is shifting from a defensive to an offensive strategy in land acquisition [6]