The daily online signing volume of second-hand housing transactions in Shanghai has reached a new high in five years, and the fundamentals of the real estate industry may continue to improve.
①Data from the official website of Shanghai Real Estate Trading Center, 'Online Real Estate,' showed that on May 10 (Sunday), a total of 1,664 second-hand housing units (including commercial properties) were transacted online in a single day in Shanghai, breaking the five-year single-day online transaction record for the second time in a month. ②Looking ahead, He Miannan of Everbright Securities believes that leading central and state-owned enterprises with obvious credit advantages will continue to benefit from the industry's supply-side deleveraging and optimization of competitive structure, driving performance stabilization and recovery.
JPMorgan: Green shoots have emerged in mainland real estate stocks, with potential to replicate Hong Kong's property market recovery.
JPMorgan compared the current market conditions of mainland real estate stocks to the "green shoot" starting point of Hong Kong-listed real estate in April 2025—when Hong Kong-listed real estate subsequently surged by 84%. Mainland real estate is still in the early rebound phase of the "green shoot," with approximately 20% upside potential remaining. This round of market performance is state-owned enterprise-led and fundamentally driven, making it more "authentic." On the same day, HSBC also raised its target price for China Resources Land to HKD 43.80. Both institutions believe that it is not too late to enter the market now.
“Having a mine at home” proves lucrative as gold giant rakes in 20 billion in a single quarter! | After-hours announcement highlights
Mining giants reported profits exceeding 20 billion yuan in the first quarter; a dark horse in the agricultural sector saw its net profit surge over 70 times year-on-year; a well-known company in the environmental protection sector is planning a significant cross-market restructuring and will halt trading from tomorrow... What announcements are worth noting after today's market close?
Reform of the Independent Director System in Progress: The Investor Service Center Publicly Nominates an Independent Director for Dongbei Group, Transitioning from Individual Case Exploration to Batch Practice
① The Investor Service Center nominated Zhu Feng as an independent director candidate to the board of Dongbei Group and publicly solicited voting rights from all shareholders regarding the proposal on the election of independent directors; ② To date, the Investor Service Center has successfully promoted five cases of public nomination of independent directors, involving companies such as First Medicine, Shangfeng Cement, China Southern Power Grid Energy Storage, Xinbo Shares, and Sansteel MinGuang. The nominated independent directors include industry experts and accounting professionals.
The Resilience of Consumption: Population, Purchasing Power, and a Blueberry
Changjiang Securities believes that the rise of lower-tier cities and the increase in purchasing power under low inflation have yet to be priced into the market. Driven by population migration to lower-tier regions and income growth in central and western areas, consumption in these regions has become a new growth engine. Additionally, optimization of manufacturing supply chains has expanded 'consumer surplus,' enhancing residents' actual purchasing power. Case studies such as blueberries and automobiles illustrate the structural resilience of 'price cuts driving quality improvement.' As new consumer-focused enterprises enter the market, this asset pricing gap is expected to narrow.
Ranking of M&A Transactions in the Chinese Market for Q1 2026
In the first quarter of 2026, China's M&A market (including cross-border M&A by Chinese enterprises) disclosed a total of 1,734 M&A transactions, representing a year-on-year increase of 5.86%; the transaction value was approximately 454.1 billion yuan, reflecting a year-on-year increase of about 6.53%.