Group 1 - The "Good House" policy is making the real estate market in core cities healthier, with the first opening sales rate in 14 first-tier cities ranging from 78% to 83%, significantly higher than historical rates, indicating strong demand for high-quality housing [1] - In Shanghai, prices for high-end improved new homes and second-hand homes for first-time buyers have stabilized and are beginning to improve, suggesting a faster overall recovery in the Shanghai real estate market [1] - The shift in buyer preferences from "having a place to live" to "living well" is driving strong demand for improved housing, but there is a shortage of quality homes, particularly in core cities [1] Group 2 - The "Good House" policy provides new opportunities for real estate companies and drives industry transformation, allowing them to sell high-quality homes at higher prices due to relaxed price controls [2] - Companies that focus on high-quality housing in core cities, such as China Resources Land, are expected to emerge from the downturn, shifting their business model from quick profits to a more sustainable, product-focused approach [2] - The policy emphasizes the essence of housing as a place to live, promoting green, low-carbon, intelligent, and safe homes, thereby reducing the financial attributes of real estate and encouraging a return to manufacturing principles [2]