Core Viewpoint - Greentown Management has successfully completed a share buyback plan, reflecting confidence in its long-term value and operational prospects [1][2] Group 1: Share Buyback and Management Actions - The company repurchased 10 million shares from August 29, 2025, to October 17, 2025, accounting for approximately 0.49751% of the total issued share capital before cancellation [1] - The average repurchase price was approximately HKD 3.0672 per share, with a total cost of about HKD 30.67 million (excluding transaction fees) [1] - Following the buyback, the total issued share capital decreased from 2.01 billion shares to 2 billion shares after the cancellation on October 28 [1] - The CEO, Wang Junfeng, purchased 500,000 shares for approximately HKD 1.5241 million, indicating confidence in the company's future [1] Group 2: Market Analysis and Industry Position - Analysts view the buyback and management's share purchase as a strong signal of confidence in the company's fundamentals amid a challenging real estate market [2] - Greentown Management remains a leader in the construction agency sector, with a signed area of 27.9 million square meters in the first three quarters of 2025, maintaining its top position [2] - The company has distributed approximately HKD 3 billion in cash dividends since its listing in 2020, demonstrating a commitment to shareholder returns [2] Group 3: Future Outlook - Multiple institutions, including Morgan Stanley and CICC, maintain optimistic ratings for Greentown Management, indicating a positive outlook for the company [3] - The shift in the real estate industry towards new development models is expected to benefit Greentown Management, which operates with a light asset and low-risk construction agency model [3]