Core Viewpoint - Poly Real Estate Group (00119) has seen a stock increase of over 4%, currently at HKD 1.71, with a trading volume of HKD 25.1652 million. The market interprets the recent share transfer as a precursor to the integration of Poly Real Estate and Poly Property [1] Group 1: Company Developments - Poly Developments (600048) announced the transfer of 4.512 billion shares to Poly Group, which will eliminate the intermediate level of ownership, positioning both Poly Developments and Poly Property as primary subsidiaries of Poly Group [1] - This restructuring is viewed positively by the market, indicating a potential integration between Poly Developments and Poly Property [1] Group 2: Market Analysis - CICC has issued a report stating that Poly Property is a significant real estate development platform under Poly Group, demonstrating stable operational performance during the current downturn [1] - The firm has rated Poly Property as "outperforming the industry," highlighting its high valuation cost-effectiveness among central state-owned real estate companies [1] - The market anticipates improvements in operational performance and valuation recovery for the company, driven by policy support [1]