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"Da Hang" Credit Suisse: Multiple communities in Chongqing request a reduction in management fees. If it spreads to more cities, it will put pressure on the profitability of property management stocks.
JP Morgan released a research report pointing out that many homeowners in Chongqing have requested a reduction in management fees since June, and there is an upward trend. Currently, most of the requests have not been successful, and there have been no similar requests in other parts of mainland China. JP Morgan believes that the current impact is still under control, but if this situation spreads to other cities, it may indeed bring profit pressure to property management companies. JP Morgan also pointed out that the process of reducing management fees is not easy, and the gross profit of most property management companies is currently in the middle single-digit low level, so they believe that there is not too much room for adjustment. The bank pointed out that this move may be a means for homeowners to demand that the management company improve their service level.
Hong Kong stocks shake | Property management stocks fall with mainland real estate stocks, and the proportion of loss-making real estate companies in the interim report hits a new high. Property companies are exploring differentiated development paths.
As mainland real estate stocks declined, as of press time, Wanyu Cloud (02602) fell by 4.59%, at HKD 20.8; CG Services (06098) fell by 3.36%, at HKD 4.89; A-Living (03319) fell by 3.15%, at HKD 2.77; Sunac Services (01516) fell by 2.25%, at HKD 1.74.
Mid-day overview: Hong Kong stocks are consolidating with the Hang Seng Index up nearly 2%; Mainland real estate is booming with Shimao Group up more than 14%.
Network technology rose, JD.com Group rose more than 4%, Meituan, Alibaba, Tencent Holdings, and Kuaishou all rose more than 2%.
Hong Kong stocks have changed | Property management stocks rebounded with mainland real estate, and the impact of real estate-related business is gradually being cleared, and the dividend ratio of the industry is expected to steadily increase.
Property management stocks rebounded today with mainland real estate stocks. As of press time, CG services (06098) rose 4.95% to HKD 4.88; Shimao Services (00873) rose 4.17% to HKD 0.75; A-Living (03319) rose 4.09% to HKD 2.8; and Sunac Services (01516) rose 2.92% to HKD 1.76.
New development in the real estate market! Shenzhen banks confirm that they will only issue mortgages after the principal cap has been reached for personal loans.
Banks will only issue personal housing mortgage loans to housing projects with capped main structures. The relevant regulations will officially take effect from the 5th.
Midday Snapshot | The gains of the three major Hang Seng indexes narrowed, auto stocks were strong, and NIO Inc stock rose over 6%.
Golden industrial concept leads the gains, with Lingbao Gold up over 6%, Zijin Mining Group and SD Gold up over 4%, Zhaojin Mining and Chi Silver GP up over 3%.
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