Ge Long Hui·2025-12-04 09:24Core Viewpoint - China Overseas Development (00688.HK) reported a significant decline in contract property sales for November 2025, with a total sales amount of approximately RMB 22.235 billion, representing a year-on-year decrease of 26.0% [1]. Group 1: Sales Performance - For the period from January to November 2025, the cumulative contract property sales amounted to approximately RMB 211.399 billion, reflecting a year-on-year decline of 21.8% [1][2]. - The corresponding cumulative sales area for the same period was approximately 9.2284 million square meters, down 9.4% year-on-year [1]. Group 2: Property Sales Conversion - As of November 30, 2025, the company recorded recognized property sales of approximately RMB 5.068 billion, which is expected to convert into contract property sales in the coming months [1]. Group 3: Land Acquisition - In November 2025, the group acquired three land parcels in Shanghai, Beijing, and Chengdu, with a total equity construction area of approximately 203,800 square meters and an equity land price of about RMB 4.3105 billion [1]. - From January to November 2025, the total equity construction area of newly acquired land reached approximately 4.2326 million square meters, with a cumulative equity land price of about RMB 88.017 billion [1]. - Additionally, in November 2025, China Overseas Hongyang (including its subsidiaries) acquired a land parcel in Lanzhou, Gansu Province, with an equity construction area of approximately 150,300 square meters and an equity land price of about RMB 390.1 million [1].