Market Performance - On September 24, 2025, the equity markets saw most sectors rise, with the Shanghai Composite Index and Shenzhen Composite Index increasing by 0.83% and 1.56% respectively, while the CSI 300 and CSI 500 rose by 1.02% and 1.99% respectively [1] Stock Performance - The top five gainers in the real estate sector were Yunnan Chengtou, Yuhua Development, Shanghai Lingang, Zhangjiang Hi-Tech, and Shibei Gaoxin, with increases of 10.16%, 10.02%, 10.01%, 10.01%, and 9.98% respectively - The largest decliners included Xiangjiang Holdings, Shoukai Shares, Shahe Shares, Nanguo Real Estate, and China National Trade, with declines of -9.47%, -7.31%, -4.22%, -3.10%, and -1.75% respectively [2] Industry News - In Nanjing, a total of 44.45 billion yuan was raised from the sale of 7 residential land plots, with a total area of 306,700 square meters and a total planned construction area of 505,800 square meters. The plots were sold at their starting prices, with the largest plot in Yuhua District sold to China State Construction International for 720 million yuan, resulting in a floor price of 12,097 yuan per square meter and a premium rate of 0% [3] - In Chengdu, a total of 22.78 billion yuan was raised from the sale of 3 residential land plots, with a total area of 101,300 square meters and a planned construction area of 183,600 square meters. Two plots in Tianfu New District were sold at a premium of 16.43%, with the winning bid by a consortium led by China Railway Construction at a floor price of 16,300 yuan per square meter [4] Company Announcements - Vanke announced the redemption of all "20 Vanke 08" bonds, with a redemption date set for November 13, 2025, at a price of 104.11 yuan per bond, including interest. The total bond balance is 1.6 billion yuan, with a coupon rate of 4.11% and a maturity date of November 13, 2027 [5] - China Resources Land announced the issuance of corporate bonds for professional investors, with a total issuance scale of up to 2 billion yuan. The bonds consist of two types, with maturities of 3 years and 5 years respectively [5]