Group 1 - The company, China Sandi (00910.HK), expects a loss of approximately RMB 4.403 billion for the fiscal year ending December 31, 2024, compared to a loss of about RMB 422 million for the fiscal year ending December 31, 2023 [1] - The anticipated decline in performance is primarily due to the ongoing adverse macroeconomic environment in China and the sluggish real estate sector, which has led to a decrease in gross margins from property sales and rental income from investment properties [1] - The company also expects to incur a fair value loss of approximately RMB 4.334 billion on investment properties for the fiscal year ending December 31, 2024, attributed to macro-control measures in the industry and the continued downturn in the Chinese real estate market [1] Group 2 - As of January 23, 2026, China Sandi's stock closed at HKD 0.01, remaining unchanged from the previous trading day, with a trading volume of zero shares and a transaction amount of HKD 0.0 [1] - The company's market capitalization is HKD 71.2349 million, ranking 158th in the real estate development sector [1] - There has been low attention from investment banks regarding this stock, with no ratings provided in the past 90 days [1]

Core Viewpoint - Shimao Group (00813.HK) reported a cumulative contract sales amount of approximately RMB 23.953 billion and a cumulative contract sales area of 1.9646 million square meters for the year ending December 31, 2025 [1] Group 1: Financial Performance - The average selling price for the year ending December 31, 2025, is RMB 12,192 per square meter [1] - As of January 16, 2026, Shimao Group's stock closed at HKD 0.2, down 2.86%, with a trading volume of 20.0733 million shares and a turnover of HKD 4.1467 million [1] - The market capitalization of Shimao Group is HKD 1.806 billion, ranking 61st in the real estate development II industry [1] Group 2: Key Financial Metrics - Return on Equity (ROE) is -17.15% [1] - Revenue is RMB 45.607 billion, ranking 16th in the industry [1] - Net profit margin is -65.73%, while the industry average is -75.71%, ranking 120th [1] - Gross profit margin is -6.12%, significantly lower than the industry average of 22.79%, ranking 146th [1] - Debt ratio is 101.56%, compared to the industry average of 67.97%, ranking 146th [1]

Core Viewpoint - Longfor Group (00960.HK) reported a total contract sales amount of RMB 63.16 billion and a contract sales area of 5.186 million square meters by the end of December 2025 [1] Group 1: Sales Performance - In December, the total contract sales amount reached RMB 3.77 billion, with a contract sales area of 447,000 square meters [1] - The contract sales amount attributable to shareholders in December was RMB 2.38 billion, with an area of 286,000 square meters [1] Group 2: Stock Performance - As of January 12, 2026, Longfor Group's stock closed at HKD 9.15, down 2.03%, with a trading volume of 24.5173 million shares and a turnover of HKD 224 million [1] - The stock has a market capitalization of HKD 65.769 billion, ranking 11th in the real estate development sector [1] Group 3: Analyst Ratings - The majority of investment banks maintain a "buy" rating for Longfor Group, with one bank issuing a buy rating in the last 90 days [1] - The average target price over the last 90 days is HKD 15.21, as per Huatai Securities' latest report [1]

Group 1 - The core point of the article is the strategic cooperation framework agreement between International Commercial Settlement (00147.HK) and Sharpening Technology, which will provide cloud computing mining services valued at up to $100 million (approximately 780 million HKD) starting from November 10, 2025 [1] - The agreement is set for a duration of one year, with formal cloud computing service agreements to be established following negotiations on procurement terms [1] - As of the market close on November 10, 2025, International Commercial Settlement's stock price was HKD 0.26, reflecting a 4.42% increase with a trading volume of 22.145 million shares and a turnover of HKD 5.7793 million [1] Group 2 - International Commercial Settlement has a market capitalization of HKD 5.752 billion and ranks 44th in the real estate development II industry [1] - There has been low attention from investment banks regarding this stock, with no ratings provided in the past 90 days [1]

Core Viewpoint - China Overseas Development (00688.HK) reported a stock price of HKD 13.74, down 0.72%, with a trading volume of 16.26 million shares and a turnover of HKD 224 million as of October 24, 2025. The company is facing a complex global economic environment, with the Federal Reserve restarting interest rate cuts in Q3 2025, while China continues to implement targeted macro policies to stabilize its economy [1][2]. Group 1: Company Performance - China Overseas Development has a market capitalization of HKD 151.48 billion, ranking 3rd in the Real Estate Development II sector [2]. - The company reported a return on equity (ROE) of 3.63%, significantly outperforming the industry average of -19.07% [2]. - The company's revenue stands at HKD 181.44 billion, which is higher than the industry average of HKD 177.02 billion, placing it 4th in the sector [2]. - The net profit margin for China Overseas Development is 11.45%, compared to the industry's -142.2%, ranking it 26th [2]. - The gross profit margin is 17.38%, exceeding the industry average of 12.84% [2]. - The company's debt ratio is 53.66%, which is lower than the industry average of 67.54%, ranking it 75th [2]. Group 2: Analyst Ratings - The majority of investment banks have a "Buy" rating for China Overseas Development, with 10 banks issuing buy ratings in the last 90 days [1]. - The average target price for the stock over the past 90 days is HKD 18.95 [1]. - Notable ratings include a "Buy" from Cailian Securities with a target price yet to be specified, and a target price of HKD 19.35 from Aoshang Yiduo [1].

Core Viewpoint - Vanke Enterprises (02202.HK) announced the resignation of Chairman Mr. Xin Jie due to personal reasons, effective October 12, 2025, after which he will no longer hold any position within the company [1] Company Summary - Vanke Enterprises has a market capitalization of HKD 11.672 billion, ranking 32nd in the Real Estate Development II industry [1] - The company reported a Return on Equity (ROE) of -23.69%, compared to the industry average of -19.07%, ranking 111th out of 170 [1] - Vanke's operating revenue stands at HKD 305.721 billion, significantly higher than the industry average of HKD 17.702 billion, ranking 1st out of 170 [1] - The net profit margin for Vanke is -10.32%, while the industry average is -142.2%, ranking 77th out of 170 [1] - Vanke's gross profit margin is 5.11%, compared to the industry average of 12.84%, ranking 133rd out of 170 [1] - The company's debt ratio is 73.11%, higher than the industry average of 67.54%, ranking 107th out of 170 [1] Industry Summary - There has been low attention from investment banks towards Vanke Enterprises, with no ratings provided in the last 90 days [1]

Core Viewpoint - China New Town (01278.HK) reported a total fixed income investment portfolio of approximately RMB 3.75 billion as of September 30, 2025, after deducting impairment provisions for risk projects [1] Financial Performance - The annualized guaranteed investment income from non-risk projects is approximately RMB 264 million, corresponding to an average annualized pre-tax investment return rate of about 7.0% [1] - As of October 10, 2025, the stock closed at HKD 0.1, down 2.0%, with a trading volume of 245,000 shares and a turnover of HKD 24,200 [1] Market Position - The market capitalization of China New Town is HKD 973 million, ranking 87th in the Real Estate Development II industry [1] - Key financial metrics compared to the industry average are as follows: - ROE: 0.98% vs. -19.07% (Industry Rank: 42) [1] - Market Capitalization: HKD 973 million vs. HKD 12.197 billion (Industry Rank: 87) [1] - Revenue: HKD 34.6 million vs. HKD 17.702 billion (Industry Rank: 130) [1] - Net Profit Margin: 30.73% vs. -142.2% (Industry Rank: 10) [1] - Gross Margin: 89.75% vs. 12.84% (Industry Rank: 2) [1] - Debt Ratio: 39.82% vs. 67.54% (Industry Rank: 41) [1]

Group 1 - China Overseas Development (00688.HK) announced a property transaction contract on September 5, 2025, to acquire 50.5% equity and related debt of Company A (Shanghai New Dong'an) and 30.5% equity of Company B (Shanghai New Bai'an) for approximately RMB 73.41 billion and RMB 8.12 billion respectively [1] - After the completion of the acquisition, Company A will be classified as a subsidiary and Company B as an associate company [1] - As of September 5, 2025, China Overseas Development's stock closed at HKD 13.85, up 1.09%, with a trading volume of 7.5188 million shares and a turnover of HKD 104 million [1] Group 2 - The stock has received a majority "buy" rating from investment banks, with five firms issuing buy ratings in the last 90 days and a target average price of HKD 18.58 [1] - The latest report from Guotai Junan Securities gives a "hold" rating with a target price of HKD 19.22 [1] - China Overseas Development has a market capitalization of HKD 149.945 billion, ranking third in the real estate development II industry [2] Group 3 - Key financial metrics for China Overseas Development include a Return on Equity (ROE) of 3.63%, compared to the industry average of -19.08%, and a net profit margin of 11.45%, while the industry average is -141.4% [2] - The company has a gross profit margin of 17.38%, significantly higher than the industry average of 12.85% [2] - The debt ratio stands at 53.66%, which is lower than the industry average of 66.95% [2]

Group 1 - The company, Huijing Holdings (09968.HK), expects a total loss of approximately RMB 602 million for the six months ending June 30, 2025, compared to a total loss of approximately RMB 335 million for the period ending December 31, 2024 [1] - As of August 22, 2025, Huijing Holdings' stock closed at HKD 0.02, reflecting a 14.29% increase, with a trading volume of 8.08 million shares and a turnover of HKD 184,200 [1] - The company has a market capitalization of HKD 110 million, ranking 151st in the Real Estate Development II industry [1] Group 2 - Key financial metrics for Huijing Holdings compared to the industry average are as follows: - Return on Equity (ROE): -3.31% (industry average not provided) [1] - Market capitalization: HKD 110 million (industry average: HKD 12.171 billion) [1] - Revenue: RMB 952 million (industry average: RMB 19.488 billion) [1] - Net profit margin: -665.16% (industry average: -167.51%) [1] - Gross profit margin: 54.81% (industry average: 9.79%) [1] - Debt ratio: 97.63% (industry average: 64.99%) [1]