Zhi Tong Cai Jing·2026-03-05 09:30Core Viewpoint - China Overseas Development (00688) reported a significant decline in contract property sales for February 2026, indicating challenges in the real estate market [1] Group 1: Sales Performance - In February 2026, the contract property sales amount for China Overseas series companies was approximately RMB 8.464 billion, representing a year-on-year decrease of 35.9% [1] - The corresponding sales area for the same period was about 358,700 square meters, down 45.0% year-on-year [1] - From January to February 2026, the cumulative contract property sales amounted to approximately RMB 22.942 billion, with a sales area of about 875,400 square meters, reflecting year-on-year declines of 9.0% and 29.7%, respectively [1] Group 2: Recognized Sales and Future Expectations - As of February 28, 2026, the recognized property sales for China Overseas series companies were approximately RMB 11.228 billion, expected to convert into contract property sales in the coming months [1] Group 3: Land Acquisition - In February 2026, the company, along with its subsidiaries, acquired two land parcels in Hong Kong and Baoding, with a total equity gross floor area of approximately 73,500 square meters and an equity land price of about RMB 1.698 billion [1] - From January to February 2026, the total equity gross floor area for newly acquired land was also approximately 73,500 square meters, with a cumulative equity land price of RMB 1.698 billion [1] - In February 2026, China Overseas Hongyang and/or its subsidiaries did not acquire any land parcels [1]