POWERCHINA Ltd(SH:601669) Hua Xia Shi Bao·2025-12-18 07:52Core Viewpoint - The Beijing Fengtai District Shougang Electric Construction Huaxi Mansion is facing multiple homeowner complaints regarding noise insulation defects and delivery quality issues, which have led to homeowner rights protection actions. The developer claims that the project meets noise standards and attributes complaints to misinformation, while market experts suggest that significant price fluctuations are a core reason for the increase in homeowner grievances [2][4][7]. Group 1: Homeowner Complaints - Homeowners at Huaxi Mansion are actively seeking resolution for noise insulation issues, reporting disturbances from neighbors that affect their living conditions [4]. - A public letter from a homeowner group requested the developer to address the noise problems, but the developer responded by claiming the complaints were exaggerated and misrepresented the project's actual conditions [5]. - Homeowners have also raised concerns about the overall quality of the delivered units, with reports of over 140 issues identified during inspections, including plumbing and odor problems [4][6]. Group 2: Market Conditions and Price Fluctuations - The project has seen significant price drops, with current listings around 6.5 million yuan per square meter, down from an initial price of 7.5 million yuan per square meter [8][9]. - The price decline is believed to be a major factor driving homeowner dissatisfaction and subsequent rights protection actions [7][10]. - Market experts indicate that fluctuations in property prices can lead to increased homeowner complaints, suggesting that developers should conduct thorough market assessments before pricing [9][10]. Group 3: Project Background and Sales Performance - Huaxi Mansion was initially a high-profile project, selling out quickly during its first launch in September 2022, with a total sales price of 26.45 billion yuan and a premium rate of 15% during the land auction [8]. - The project was marketed as a desirable residential option due to its low-density attributes and the backing of state-owned enterprises, but it is now facing challenges due to quality concerns and market price adjustments [8][11]. - The developer, China Electric Power Construction Real Estate, has multiple Huaxi Mansion projects in Beijing, indicating a broader strategy in the region despite current controversies [11].