房地产行业周报：有序搭建新模式，更大力度推动止跌回稳-20250618

Investment Rating - The investment rating for the real estate industry is "Positive" (maintained) [4] Core Viewpoints - The report emphasizes the need for a new development model in the real estate sector to promote stable, healthy, and high-quality growth. It highlights the importance of long-term planning and systematic policy support across various areas such as planning, land, finance, and fiscal measures [51][52] - The report notes that the central government has consistently stressed the importance of stabilizing the real estate market since September 2024, with a focus on high-quality housing development [4][55] Market Performance - The Shanghai Composite Index fell by 0.2%, the Shenzhen Component Index by 0.6%, while the ChiNext Index rose by 0.2%. The real estate sector (Shenwan) declined by 1.8% during the week [4][7] - In terms of individual stocks, ST Zhongdi increased by 8.7%, while Hai Tai Development decreased by 18.8% [7] Data Tracking New Housing Transactions - In the week of June 7-13, 2025, 42 key cities recorded a total new housing transaction of 212 million square meters, a 14.4% increase from the previous week [14] - For June up to the week of June 13, total new housing transactions in these cities reached 362 million square meters, a 12.8% increase month-on-month but a 0.6% decrease year-on-year [18] Second-Hand Housing Transactions - In the week of June 7-13, 2025, 21 key cities recorded a total second-hand housing transaction of 216 million square meters, a 31.4% increase from the previous week [30] - For June up to the week of June 13, total second-hand housing transactions reached 371 million square meters, a 28.1% increase month-on-month and a 7.3% increase year-on-year [34] Industry News - The State Council emphasized the construction of a new real estate development model, which is crucial for the stable and healthy development of the market. It called for a systematic approach to stabilize expectations and activate demand [51][52] - Various cities have implemented measures such as the cancellation of purchase restrictions in Guangzhou and the promotion of housing "trade-in" policies in Jiangsu [51][52] Company Announcements - In May 2025, several companies reported their sales figures: Longfor Group at 6.47 billion yuan (down 26% year-on-year), China Jinmao at 12.44 billion yuan (up 72% year-on-year), and China Resources Land at 18.35 billion yuan (down 11% year-on-year) [55]