CHINA OVERSEAS(HK:00688) Sou Hu Cai Jing·2025-07-24 16:49Group 1 - China Overseas Land & Investment (中海) aggressively acquired two plots of land in Shanghai, spending a total of 11.888 billion yuan, as it had not secured any land in the first half of the year [1][9] - The company won the C050202 unit plot in Jing'an District for 5.363 billion yuan, with a floor price of 90,400 yuan per square meter and a premium rate of 10.1% [2][10] - The competitive bidding for the Jing'an plot involved four major state-owned real estate enterprises, indicating a high level of interest in the area [9][10] Group 2 - The Jing'an plot's surrounding area has seen average new home prices around 145,600 yuan per square meter, suggesting that the acquisition may not be a bargain [4][7] - The plot requires 21% of the area to be self-owned commercial space, which poses challenges for quick capital recovery [5][7] - The company also secured the Pu Tuo Zhen Ru A03D-01 and A03D-03 plots for 6.525 billion yuan, with a floor price of 58,823 yuan per square meter and a premium rate of 14.17% [13][14] Group 3 - The competitive landscape in Shanghai's real estate market is intense, with other major players like Poly Developments and China Resources Land also actively participating in land acquisitions [12][9] - The overall sales performance of China Overseas in Shanghai has declined, with only 13.778 billion yuan in sales in the first half of the year, dropping from first to seventh place [9][10] - The company faces pressure to maintain its market position, as it has not secured any land in previous bidding rounds this year [9][10]