Core Viewpoint - The report from Huatai Securities indicates that as of October 31, the real estate sector's holdings data up to the end of Q3 2025 shows a steady increase in the Shenwan Real Estate Index, with public funds' market value in real estate stocks rising, although the holding ratio continues to decline, indicating further clearing of chips [1] Group 1: Market Trends - The Shenwan Real Estate Index has shown a steady increase in Q3 [1] - Public funds' market value in real estate stocks has risen, but the holding ratio is on a downward trend [1] - Northbound capital's holding ratio in real estate has also decreased [1] Group 2: Investment Recommendations - The market is still in a bottoming and stabilizing phase [1] - There is a positive outlook for the recovery pace in core cities, particularly represented by first-tier cities [1] - The report continues to recommend "three good" real estate stocks characterized by good credit, good cities, and good products, as well as leading property management companies with stable dividends and performance [1]

Core Viewpoint - The report from Huatai Securities indicates that as of October 31, the real estate sector's holdings data up to the end of Q3 2025 has been released, showing a steady increase in the Shenwan Real Estate Index and a rise in the market value of public fund holdings in real estate stocks, although the holding ratio continues to decline [1] Group 1: Market Trends - The Shenwan Real Estate Index has shown a steady increase in Q3 [1] - The market value of public funds' holdings in real estate stocks has risen [1] - Both the holding ratio of public funds and the proportion of northbound capital in real estate have decreased, indicating further clearing of chips [1] Group 2: Investment Recommendations - The market is still in a bottoming and stabilizing phase, with a positive outlook on the recovery pace of core cities represented by first-tier cities [1] - The report continues to recommend "three good" real estate stocks characterized by "good credit, good cities, and good products" [1] - There is also a focus on head property management companies that demonstrate stable dividends and performance [1]