KERRY PPT(HK:00683) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-04 05:52Core Viewpoint - The recent purchase of a luxury apartment by Guo Konghua, son of Malaysia's richest man, has stirred significant interest in Shanghai's high-end real estate market, revealing a potential strategy of asset retention and market positioning by the company [1][2]. Company Summary - Guo Konghua acquired a four-bedroom unit in the Shanghai Jinling Huating project for RMB 1.17 billion (approximately HKD 1.277 billion), with a construction area of about 449 square meters, while the unit is still under construction [2][3]. - The transaction is expected to generate a profit of approximately RMB 23 million for the company, indicating a profit margin of about 19.66% for the sale of this property [5][6]. - The Jinling Huating project has a sales average of around RMB 19,000 per square meter, with the highest unit price reaching RMB 32,680 per square meter, setting a new record for new home prices in Shanghai [6][7]. Industry Summary - The luxury real estate market in Shanghai is experiencing a significant supply reduction, with a reported 50% decrease in the availability of properties priced over RMB 30 million from January to October this year [14]. - The market is shifting towards a "stock game" phase, where high-end properties are becoming increasingly scarce, leading to intensified competition among developers for quality assets [16]. - The recent easing of purchase restrictions in Shanghai has led to a resurgence in high-end property transactions, with a 184% year-on-year increase in sales for properties priced over RMB 30 million in the first half of 2025 [16].