Core Viewpoint - The recent financial policies announced by the People's Bank of China and other departments aim to stabilize the real estate market and enhance economic liquidity, with significant interest rate cuts for housing loans and deposit reserve ratios [1][6]. Group 1: Market Performance - The real estate market has shown signs of recovery, particularly during the "May Day Golden Week," with significant sales increases in major cities like Shanghai and Beijing, where new housing transactions surged by 18.32% and 114% respectively compared to the previous year [3][5]. - Poly Developments has been recognized for its strong market performance, with several projects achieving remarkable sales figures during the holiday period, including over 2.08 billion yuan in sales for the "Hongqiao and Zhu" project and over 2.5 billion yuan for the "Guanghe TOD" project [4][5]. Group 2: Company Performance - Poly Developments ranked first in the real estate industry with a sales figure of 323 billion yuan, showcasing its strength during the industry's restructuring phase [6]. - The company reported a revenue of 311.67 billion yuan and a net profit of 9.74 billion yuan, maintaining a leading position in the industry [6][7]. - The company has effectively managed its cash flow, achieving a sales collection of 327.7 billion yuan and a collection rate exceeding 100%, with a significant increase in the collection rate for mortgage payments [7]. Group 3: Land Acquisition and Financial Health - Poly Developments has expanded its land reserves significantly, with a total land acquisition cost of 683 billion yuan, ranking second in the industry, and a focus on high-quality land reserves [8][9]. - The company has successfully reduced its interest-bearing liabilities by 5.4 billion yuan, resulting in a total of 348.8 billion yuan in liabilities and a decrease in the asset-liability ratio to 74.3% [7][8]. - The financing costs have decreased, with the average cost of new interest-bearing liabilities dropping to 2.92%, marking a historical low for the company [7].