Core Viewpoint - The recent hiring of Cai Liang by Poly Developments is seen as a strategic move to enhance the company's competitive edge in the Shanghai luxury real estate market, particularly as the market becomes increasingly competitive with major players intensifying their efforts [1][3]. Group 1: Talent Acquisition and Management Changes - Cai Liang, a former senior figure at Vanke, has joined Poly Developments to lead product research and development, marking a significant shift from the company's traditional practice of internal promotions [1][3]. - The hiring of Cai Liang is part of a broader strategy to restructure the executive team at Poly Developments, aiming to address gaps in product, marketing, and research capabilities [3][4]. Group 2: Market Competition and Sales Performance - The luxury real estate market in Shanghai is experiencing fierce competition, with major companies like China Resources, Poly Developments, and China Overseas intensifying their market presence [1][4]. - As of November 2025, Poly Developments reported sales of 395.8 billion yuan, closely trailing China Resources at 417.9 billion yuan, indicating a competitive landscape where the gap is only 22.1 billion yuan [7]. - Poly Developments has achieved a sales area of 57.1 million square meters, with a unit price of approximately 6.93 million yuan per square meter, highlighting its focus on the high-end market [7]. Group 3: Project Launches and Sales Strategy - Poly Developments plans to release over 2.6 billion yuan worth of properties by the end of the year, aiming to secure the second position in annual sales in Shanghai [8][10]. - The company is introducing new housing types, such as the "Yao" unit with high usable space efficiency, to attract buyers in the competitive market [9]. - Recent sales data from the Expo Tianyue project shows a sales rate of 77.9%, with 648 units sold out of 832, indicating a need for improved sales strategies in a challenging market [4][8].