Core Viewpoint - China Railway Construction Real Estate Group (CRCRE) has made a significant return to the Beijing market by acquiring the "Huayu Jingyun" project in Tongzhou for 775.52 million yuan, marking a premium rate of 21.94% and setting new records for floor price, bidding rounds, and premium rate in the area [2][3][6]. Group 1: Project Acquisition - The "Huayu Jingyun" project is CRCRE's first land acquisition in Beijing in nearly three years, with a floor price of approximately 35,800 yuan per square meter [2][3]. - The project is located in the Tongzhou district, specifically in the Liyuan area, and is designed to cater to both first-time buyers and those looking to upgrade [3][6]. - The land area for the project is 12,700 square meters, with a total above-ground construction area of 21,600 square meters and a plot ratio of 1.7 [4]. Group 2: Market Context - The Tongzhou area has seen a surge in new projects, which may pose challenges for the sales and absorption of the "Huayu Jingyun" project due to increased competition [6][7]. - Nearby projects, such as "Zhaoshang Yunjing Lanyue" and "Jinju Huaxi Yunjin," have lower acquisition costs and are already experiencing sales, which could impact the pricing strategy for "Huayu Jingyun" [6][8]. Group 3: Company Performance - CRCRE's real estate sales reached 951.45 billion yuan in 2024, a 21.6% decrease from the previous year, but the company improved its ranking among national real estate firms [11][12]. - The company has been actively acquiring land in key cities, with a focus on high-quality projects in major urban areas such as Beijing, Shanghai, and Chengdu [12][14]. - CRCRE's strategy emphasizes stabilizing scale and enhancing quality, aiming to navigate the current market challenges effectively [14].