GRANDJOY: The holding subsidiary GRANDJOY Real Estate Co., Ltd. repurchased shares through a contractual arrangement and completed the application for withdrawal of listing status on the Hong Kong Stock Exchange

Viewpoint Index: The performance of consumer infrastructure REITs is differentiated, with significant differences in profitability

The viewpoint index shows that the performance of consumer infrastructure REITs is differentiated, with Huaxia Joy City Commercial REIT and Huabao Bailian Consumer REIT yielding close to 50%. In the first quarter of 2025, 8 consumer REITs generated a total revenue of 565 million yuan, but the profitability varies significantly. The increase in holiday consumption enthusiasm and the active entry of new projects, with operators like Vanke Yinli and K11 launching new projects, are expected to inject vitality into the market

GRANDJOY released its 2024 annual performance, with a net loss attributable to the parent company of 2.977 billion yuan, an expanded loss

According to the Zhitong Finance APP, GRANDJOY released its annual report for 2024, stating that the company's operating revenue for 2024 was 35.791 billion yuan, a year-on-year decrease of 2.70%; the net loss attributable to shareholders of the listed company was 2.977 billion yuan, with losses widening; the net loss attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 4.050 billion yuan, with losses widening; the basic loss per share was 0.69 yuan/share

Midday Break | The three major indices of A-shares all fell

GRANDJOY and Tongyi Aerospace fell over 5%, MTCN fell over 4%, and SMIC fell over 1%; semiconductors, aerospace and military industry, and real estate led the decline, while chemicals, cultural media, and consumer goods strengthened; the Shanghai Composite Index fell 0.07%, the Shenzhen Component Index fell 0.43%, and the ChiNext Index fell 0.29%

The real estate market transaction stabilizes, and the land market shows signs of warmth

Recently, the real estate market has stabilized, with an increase in transaction volumes for both new and second-hand homes in multiple cities. The land market is also heating up, with frequent land auction activities. The capital market has also released positive signals, with some real estate stocks showing significant gains, indicating a restoration of market confidence. Zhang Dawei, an analyst at Zhongyuan Real Estate, pointed out that under the promotion of policies, the market has stopped declining and stabilized, but multiple repair chains are still needed to achieve a positive cycle