＜Research＞UBS: CN Top 100 Property Firms' Sales Recover Slightly in Jun

　　According to data from CRIC, the top 100 property developers recorded a 22% YoY decline in sales in June 2024, representing a narrower decline from the 35% YoY drop in May, UBS issued a research report saying.

　　The sales of top 100 property developers grew 33% MoM, better than the average 29% growth in June over the past 5 years. Seven of the top 10 real estate companies reported YoY sales growth in June, which is believed to be driven by a lower base in 2023, as well as new saleable resource from new land reserves in 1H24.

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　　Overall, UBS expected state-owned real estate companies to continue to outperform private real estate enterprises, with POLY DEVELOPMENTS(600048.SH, CHINA RES LAND (01109.HK) +1.300 (+4.896%) Short selling $39.01M; Ratio 33.937% , CHINA OVERSEAS (00688.HK) +0.400 (+2.954%) Short selling $19.73M; Ratio 25.791% and YUEXIU PROPERTY (00123.HK) +0.018 (+0.363%) Short selling $946.03K; Ratio 3.175% posting a YoY sales growth of between 2% and 45% in June. The sales of CHINA VANKE (02202.HK) +0.190 (+4.086%) Short selling $12.39M; Ratio 16.796% and MERCHANTS SHEKOU(001979.SZ) 0.000 (0.000%) slipped 21% and 29%, respectively.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-28 12:25.) (A Shares quote is delayed for at least 15 mins.)

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