Core Viewpoint - The Chinese real estate sector is experiencing a significant downturn, with major property stocks declining sharply amid worsening sales figures and uncertainty regarding recovery [1] Group 1: Stock Performance - Major property stocks in China have collectively dropped, with R&F Properties down 5% to HKD 0.57, China Overseas Land & Investment down 5.22% to HKD 2.18, and Sunac China down 5.42% to HKD 0.157 [1] - The decline in stock prices reflects broader concerns about the health of the real estate market [1] Group 2: Sales Data - From January to September, the total sales area of new commercial housing in China was approximately 6.58 billion square meters, representing a year-on-year decrease of 5.5%, with the decline accelerating by 0.8 percentage points compared to the first eight months [1] - The sales revenue for new commercial housing in the first three quarters was about CNY 6.3 trillion, down 7.9% year-on-year, with the decline also widening by 0.6 percentage points compared to the previous period [1] Group 3: Debt Restructuring and Market Outlook - Sunac China's planned domestic debt restructuring scheme, initially set for October, remains uncertain, with intentions to extend related bonds [1] - Fitch Ratings indicated that the Chinese real estate industry has not yet hit bottom, with recovery trends remaining uncertain; despite a brief market stabilization in Q1, new home sales and prices have been declining since April, with further drops noted in June [1] - The outlook for 2026 suggests that sales in the real estate market may continue to decline [1]
港股异动 | 内房股集体走低 惠誉称房地产市场尚未触底 预计2026年销售额继续下滑