Real Estate Development

SEAZEN

Xingcheng Development Announces April 2026 Sales and Rental Revenue

Morgan Stanley Cuts Profit Forecast and Target Price for New City Development but Maintains Overweight Rating

Citi Raises Target Price for New City Development to HKD 3.2

New Metropolis Development Announces FY2025 Financial Report

SEAZEN released FY2025 Q3 earnings on March 27 (BJT), actual revenue HKD 16.92 B, actual EPS HKD -0.0231

SEAZEN released FY2025 9 Months earnings on March 27 (BJT), actual revenue HKD 40.93 B, actual EPS HKD 0.0831

Xingcheng Development Announces Full Year 2025 Results

SEAZEN released FY2025 earnings on March 27 During-Market (BJT), actual revenue HKD 58.08 B (forecast HKD 58.96 B), actual EPS HKD 0.061 (forecast HKD 0.1086)

SEAZEN released FY2025 Q4 earnings on March 27, 2026, during market hours (BJT) with actual revenue of HKD 17.22 B and EPS of HKD -0.0235

SEAZEN to release FY2025 earnings report on March 27, 2026, during market hours (BJT), forecast revenue HKD 60.48 B, EPS HKD 0.1115

NeoLand Development Holdings Achieved Contract Sales Revenue of Approximately RMB 1.223 Billion in February 2026

Moody's Upgrades Seazen Group's Credit Rating

Morgan Stanley Upgrades New City Development Profit Forecast

S&P Grants New Metro Global a B- Issuer Rating

Xingcheng Development subsidiary purchases some unrepaid bonds in cash

Neo Land Development Plans to Use Proceeds from Proposed Bond Issue for 2026 Tender Offer and Debt Refinancing

Xingcheng Worldwide Aims to Issue USD-denominated Guaranteed Senior Notes

New Town Development Issues RMB Denominated Notes for Land Acquisition Settlement

Xincheng Development Completes 198 Million Share Placing and Subscription Raising HKD 469 Million

Fortune Town Development Holdings January Contract Sales Down 29.8%, but Rental Income Up 3.3%

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BEST FOOD HLDG

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New City Development Group clarified its ongoing negotiations regarding the Haizhu District land requisition, proposing a compensation plan of RMB 525 million. No binding agreement has been signed, and approvals are still pending. The board accepted a RMB 180 million compensation proposal from Guangdong Changna, while a government advance of RMB 270 million was received for loan repayments. The group anticipates a net asset uplift of about 8%, but warns of an 85% revenue drop if investment properties are acquired.

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China Southern CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

ChinaAMC CSI All Share Real Estate ETF

Hwabao WP CSI 800 Real Estate ETF

NEW CITY DEV

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Hong Kong Exchanges and Clearing (HKEX)

New City Development clarifies Haizhu land requisition talks, cites RMB 525 million compensation plan

HSBC Global Research has identified Seazen Group (SEHK:1030) as a top pick among Chinese property developers following Shenzhen's easing of home purchase restrictions. The stock, currently priced at HK$2.21, has shown mixed performance with a 90-day return of 13.33% but a concerning P/E ratio of 35.7x, significantly higher than the industry average of 10.4x. Despite expectations for earnings growth, risks include a 21.35% revenue contraction and a substantial decline in past earnings. Analysts suggest caution due to potential valuation risks.

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HSBC HOLDINGS

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HSBC Holdings Plc

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Seazen Group (SEHK:1030) Valuation Check After HSBC Buy Rating And Shenzhen Policy Easing

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Seazen Holdings announced that the contract sales amount for the first quarter of 2023 was RMB 3.016 billion, a year-on-year decrease of 40.9%; the sales area was approximately 526,500 square meters. The contract sales amount in March was RMB 1.079 billion, a year-on-year decrease of 49.3%. At the same time, rental income was RMB 1.115 billion, a year-on-year increase of 3.1%; the cumulative rental income for the first quarter was RMB 3.307 billion, an increase of 2.8%

AASTOCKS

Seazen

In the first quarter, Seazen's contract sales amounted to 3.016 billion RMB, a decrease of 40.9%

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Morgan Stanley has lowered the target prices for some domestic property stocks, expecting the industry to remain under pressure in the second quarter of 2026. Domestic property developers hold a cautious attitude towards market prospects, with weak performance expected in 2025, and core earnings are projected to decline by an average of 29%. State-owned domestic property companies are performing relatively strong, with higher profits and gross margins. Morgan Stanley maintains a positive outlook on China Resources Land and Seazen, while holding a pessimistic view on Greentown China, Vanke A, and Gemdale. The target price adjustments are as follows: Cmsk from HKD 8.31 to HKD 7.03, Gemdale from HKD 2.12 to HKD 1.1, Longfor from HKD 8.2 to HKD 8, and Vanke A from HKD 2.7 to HKD 2.15

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CHINA RES MIXC

LONGFOR GROUP

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Morgan Stanley lowers target prices for some mainland property stocks, expects the industry to remain under pressure in the second quarter

Seazen announced its full-year results for the year ending December last year, with a revenue of RMB 53.136 billion, a year-on-year decrease of 40.4%. The net profit was RMB 393 million, a year-on-year decrease of 19.9%; earnings per share were 6 cents, with no dividend declared. The gross profit was approximately RMB 12.401 billion, with a gross profit margin of 23.3%, an increase of 6.5 percentage points year-on-year. The total borrowings were approximately RMB 54.758 billion, a year-on-year decrease of 5.15%; the weighted average cost of borrowing was 5.81%, a year-on-year decrease of 0.07 percentage points. The net debt to equity ratio was 58.3%

"Performance" Seazen's annual net profit is 393 million RMB, down 19.9%

Seazen achieved a contracted sales amount of approximately RMB 1.223 billion in February 2026, a year-on-year decrease of 37.6%. The cumulative contracted sales amount for the first two months was approximately RMB 1.937 billion, a year-on-year decrease of 35%. In terms of real estate leasing, the rental income in February was approximately RMB 1.071 billion, a year-on-year increase of 1.9%; the cumulative rental income for the first two months was approximately RMB 2.192 billion, a year-on-year increase of 2.67%

Seazen's contract sales in February amounted to 1.223 billion RMB, a year-on-year decrease of 37.6%

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Seazen Subsidiary Settles Cash Offer for 4.5% Senior Notes Due 2026

Tip Ranks

GF CSI All Share Financials ETF

Seazen Subsidiary Settles Cash Offer for 4.5% Senior Notes Due 2026

Seazen Group Ltd. has announced the issuance of US$355 million 11.8% guaranteed senior notes due 2029 by its subsidiary, New Metro Global Limited. This update clarifies a previous typographical error regarding the maturity date, confirming it as 9 March 2029. The offering memorandum has been posted on the Singapore Exchange for regulatory compliance, not as a public offering. The latest analyst rating for Seazen Group Ltd. is a Hold with a price target of HK$2.50.

Seazen Clarifies Details on US$355 Million 2029 Senior Notes Issuance

SEAZEN(01030.HK)

New City Development clarifies Haizhu land requisition talks, cites RMB 525 million compensation plan

Seazen Group (SEHK:1030) Valuation Check After HSBC Buy Rating And Shenzhen Policy Easing

In the first quarter, Seazen's contract sales amounted to 3.016 billion RMB, a decrease of 40.9%

Morgan Stanley lowers target prices for some mainland property stocks, expects the industry to remain under pressure in the second quarter

"Performance" Seazen's annual net profit is 393 million RMB, down 19.9%

Seazen's contract sales in February amounted to 1.223 billion RMB, a year-on-year decrease of 37.6%

Seazen Subsidiary Settles Cash Offer for 4.5% Senior Notes Due 2026

Seazen Clarifies Details on US$355 Million 2029 Senior Notes Issuance