房地产日报：成都土拍地价创新高

Investment Rating - The industry investment rating is Neutral, indicating that the expected overall return in the next six months will be between -5% and 5% compared to the CSI 300 index [13]. Core Insights - The report highlights that the real estate market is showing signs of stabilization, with recent land auctions in Chengdu achieving record high prices, reflecting renewed investor interest [7]. - The report notes that the overall market sentiment is positive, as evidenced by the increase in major stock indices, including the Shanghai Composite Index and the Shenzhen Component Index [4]. - The report emphasizes the importance of local government policies in supporting land reserves and managing idle land, which could impact future real estate development [6]. Summary by Sections Market Performance - On March 11, 2025, the equity market saw most sectors rise, with the Shanghai Composite Index increasing by 0.41% and the Shenzhen Component Index by 0.33% [4]. - The real estate index rose by 0.1%, indicating a slight recovery in the sector [4]. Individual Stock Performance - The top five performing stocks in the real estate sector included Shahe Co., Shanghai Lingang, and Shenzhen Zhenye A, with gains of 10.05%, 7.77%, and 4.81% respectively [5]. - Conversely, the worst performers included Rongfeng Holdings and Binjiang Group, with declines of -4.06% and -2.78% respectively [5]. Industry News - The Ministry of Natural Resources and the Ministry of Finance issued a notice to prioritize the disposal of idle land and support land reserves through local government special bonds [6]. - In Chengdu, three residential land parcels were sold for a total of 5.065 billion yuan, with the highest bid achieving a floor price of 31,700 yuan per square meter, marking a 70.43% premium [7]. Company Announcements - China Jinmao established three property companies in Shanghai, Guangzhou, and Chengdu, with a total registered capital exceeding 13.9 billion yuan [10].