<div id="readability-page-1"><div>JPM released a research report stating that supported by solid data during the May Day Golden Week, the CN Home sector rose a further 5% on May 6, extending its strength since early April. The bank believes that if data remain solid this month, the sector is expected to continue to Outperform the market. Despite a cumulative 22% increase in share prices, it still sees about 20% potential return, which could drive the sector back to its peak in October 2024. If the data momentum extends to July and August, there could be another rally of more than 30%.Quoting Iceberg index data, the report noted that during the Golden Week, real-time secondary transactions rose 31% YoY, extending the 29% YoY growth recorded in April. In the primary market, most state-owned developers guided for flat YoY performance. The banks top picks are CHINA OVERSEAS (00688.HK) +0.370 (+2.472%) Short selling $298.44M; Ratio 22.171% , CHINA RES LAND (01109.HK) +0.180 (+0.509%) Short selling $355.67M; Ratio 24.909% and CHINA JINMAO (00817.HK) +0.030 (+1.657%) Short selling $19.79M; Ratio 9.552% .Below are JPMs ratings and TP for the relevant stocks:Stock | Investment Rating | TPCHINA RES LAND (01109.HK) +0.180 (+0.509%) Short selling $355.67M; Ratio 24.909% | Overweight | HKD37 -&gt; HKD44 CHINA OVERSEAS (00688.HK) +0.370 (+2.472%) Short selling $298.44M; Ratio 22.171% | Overweight | HKD16.5 -&gt; HKD19.5 CHINA JINMAO (00817.HK) +0.030 (+1.657%) Short selling $19.79M; Ratio 9.552% | Overweight | HKD1.75 -&gt; HKD2.05 POLY DEVELOPMENTS (600048.SH) +0.030 (+0.469%) | Overweight | RMB8.2 -&gt; RMB9.5(hc/w)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-06 16:25.) (A Shares quote is delayed for at least 15 mins.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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JPM's research report indicates that the CN Home sector experienced a 31% YoY increase in secondary transactions during the May Day Golden Week, contributing to a 5% rise on May 6. The bank anticipates a further 20% upside for the sector, potentially reaching its peak by October 2024. If positive data continues, another rally of over 30% could occur by mid-summer. Top stock picks include CHINA OVERSEAS, CHINA RES LAND, and CHINA JINMAO, all rated as Overweight with adjusted target prices.

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JPM: CN Home May Day Golden Week Secondary Transactions +31% YoY, Sees About 20% Further Upside for Sector