Real estate stocks opened lower, with Vanke A falling over 7%, continuing to hit a new low in more than 10 years. Bright Real Estate, Seazen, Gemdale, Cmsk, and OCT also saw declines

"Large Banks" Huayan: Domestic real estate is in a policy vacuum period, optimistic about CHINA RES LAND, C&D INTL GROUP, and SEAZEN

"Large Banks" Huayan: Domestic real estate is in a policy vacuum period, optimistic about CHINA RES LAND, C&D INTL GROUP, and SEAZEN

Seazen's subsidiary, New City Holdings, earned 974 million RMB in the first nine months, a decline of 33.1%

Seazen announced that its subsidiary, Seazen Holdings, achieved an operating revenue of RMB 34.371 billion in the first nine months, a year-on-year decrease of 33.3%. The net profit attributable to shareholders was RMB 974 million, down 33.1%, with earnings per share of 43 cents

Seazen: In the first three quarters, Seazen Holdings' net profit attributable to shareholders was 974 million yuan, a year-on-year decrease of 33.05%

According to the Zhitong Finance APP, SEAZEN announced that in the first three quarters of 2025, it achieved operating revenue of 34.371 billion yuan, a year-on-year decrease of 33.34%; net profit attributable to the parent company was 974 million yuan, a year-on-year decrease of 33.05%; basic earnings per share were 0.43 yuan

Understanding the Market | Chinese property stocks fell across the board today. Institutions say the real estate cycle is entering a deep-water phase, and the performance of real estate companies in the third quarter will continue to be under pressure

Chinese property stocks fell broadly today. As of the time of writing, Sunac China fell 3.85% to HKD 1.5; Ronshine China fell 3.31% to HKD 0.175; Seazen fell 2.19% to HKD 2.23; Greentown China fell 2.05% to HKD 8.59. HTSC released a research report stating that from a macro perspective, the current real estate cycle is entering a "deep water zone" as it grinds to a bottom, with a more optimistic view on the recovery pace of core cities represented by first-tier cities. From a strategic perspective, the risk digestion in the real estate chain sector may have been relatively sufficient, and high-quality companies are expected to benefit from improved performance expectations and the dual logic of leading companies advancing. Shenwan Hongyuan, on the other hand, expects that the performance of real estate companies in the third quarter will continue to be under pressure, mainly due to the continuous decline in sales since 2021 leading to a decrease in settlements; previous price cuts and promotions have impacted profit margins due to low current settlements. However, considering the government's requirement for the real estate industry to "stop the decline and stabilize," as well as the bottoming out of corporate profit margins and the clearing of impairments, it is comprehensively expected that the sector's performance is likely to experience weak recovery amid bottom oscillation in 2025-2026, and the performance differentiation among companies will further intensify