房地产行业周报：二手房销售持续回暖，土地收储加快落地

Investment Rating - The industry investment rating is "Positive" [3] Core Viewpoints - The report indicates a continuous recovery in second-hand housing sales and an acceleration in land acquisition [1][2] - New housing sales in 27 cities for the week of February 8-14 reached 2.274 million square meters, a significant increase from the previous week's 867,000 square meters [1] - The cumulative year-on-year growth rate for new housing sales from January 1 to February 14 is 1.05%, a recovery from the previous rate of -16.07% [1] - Second-hand housing sales in 13 cities for the same week reached 1.570 million square meters, up from 817,000 square meters the previous week [1] - The cumulative year-on-year growth rate for second-hand housing sales from January 1 to February 14 is 20.10%, compared to 3.14% previously [1] - The report highlights that land acquisition using local government special bond funds is accelerating, with multiple cities announcing plans to acquire idle land [2] Summary by Sections Sales Performance - The cumulative year-on-year growth rate for new and second-hand housing sales in 12 cities from January 1 to February 14 is -5.42%, improving from -19.19% [2] - The monthly cumulative sales growth rate for February is 12.50%, compared to -9.31% in the previous month [2] Land Acquisition - The report emphasizes that the acceleration of land acquisition is crucial for alleviating cash flow pressures on real estate companies and boosting market confidence [2] - The report suggests that state-owned enterprises and central enterprises with significant land reserves are likely to benefit from this trend, recommending companies such as Poly Developments, China Merchants Shekou, China Resources Land, Greentown China, and Yuexiu Property [2]