Core Viewpoint - The Chinese real estate market shows signs of stabilization in May 2025, with new home supply significantly decreasing, while transaction volumes remained stable compared to April, and year-on-year growth is maintained [8][10]. Group 1: Sales Performance - In May 2025, the top 100 real estate companies achieved a total sales amount of 294.58 billion yuan, reflecting a month-on-month growth of 3.5% [9][10]. - From January to May 2025, the cumulative sales amount reached 1,312.75 billion yuan [10]. - Over half of the top 100 companies reported month-on-month performance improvements in May, with 22 companies experiencing growth rates exceeding 30% [10]. Group 2: Market Trends - The overall real estate market continues to show a weak recovery trend, with expectations for June indicating a steady increase in transaction volumes, while year-on-year comparisons may show slight declines [10][18]. - The supply of new homes is expected to improve, driven by the mid-year push from real estate companies and enhanced supply quality [18]. - The first-tier cities, particularly hotspots like Shanghai and Shenzhen, are experiencing supply constraints, which may limit transaction volumes despite the introduction of suitable properties [18]. Group 3: Sales Scale Variations - The sales threshold for the top 30 real estate companies increased by 5.3% year-on-year to 9.53 billion yuan in May 2025 [13]. - The sales scale among different tiers of the top 100 companies shows divergence, with the 31-50 tier experiencing cumulative sales growth, while the top 10 and 11-20 tiers saw declines [15].