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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.
Eternal Asia Service (01995) cancelled 20.666 million repurchased shares.
Eternity Service (01995) announced that from November 22, 2023 to July 3, 2024, the company will be suspended from trading on the Hong Kong Stock Exchange due to the proposed privatization of the company.
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%.
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%.
Is the bottom in sight? Bullish signals continue to accumulate in the real estate industry, with a significant outperformance of the large cap in July.
The real estate industry, which has been in a slump for a long time, has recently shown some bullish signals.
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