HU-CRL @EC2608A

Fitch Maintains Hua Land's BBB+ Rating, Differentially Recognizing Its Development Fundamentals and Transformation Resilience

China Resources Land approved to spin off commercial property REIT on SZSE

Chengdu Sells 3 Residential Land Plots on May 15 for Total of 2.101 Billion Yuan

CR Land Acquired 5 Plots of Land in April with a Total GFA of about 4.75 Million sqm

CR Land Accumulated Contract Sales Amount to 70 Billion RMB

China Resources Land reports 49.6% growth in April sales to 25.88 billion yuan

Huaxin Land's Shunde Runfu Project Sales Office Closed, Sales Team Withdrawn

CR Land Successfully Acquired Former Ningbo TV Station Site in Haishu District

CR Hongze Acquires Ningbo Haxi District Land for 763.5985 Million Yuan

CR Land and Future Science City Jointly Acquire Residential Land in Beiqijia Town, Changping District, Beijing

CITIC Pacific Land Acquires Fangtai Wanan Temple Village Renovation Site at Reserve Price

China Resources Land Releases 2025 Sustainable Development Report and Issues Green Bonds

Morgan Stanley Maintains Buy Rating for China Resources Land with Price Target

Sun Hung Kai Properties and China Resources Land Apply for Height Increase for Yuen Long Housing Project

Huaxin Land and Yuexiu Property Plan to Launch Residential Projects in Oil Tunnel, Hong Kong in Q3 2027

Everbright Securities Downgrades Net Profit Forecast for China Resources Land but Maintains Buy Rating

CR Land Acquires 3 Land Plots in Dongguan, Shenyang, Chengdu, etc. in March 2026

CR Land Reports March Sales Decline But Rent Income Growth

CR Land Announces 2025 Annual Performance Report

Macau Xiang Qiba Fang Plot Auctioned at a Premium

CENTURY GINWA

TIANLI HOLDINGS

METASPACEX

GW TERROIR

CN INT DEV CORP

WATER INDUSTRY

GW TIANDI

KAISUN HOLDINGS

LESI GROUP

TJCD

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BofAS has raised the target price for CHINA OVERSEASfrom HKD17 to HKD19, maintaining a Buy rating due to improved profit margin forecasts and positive sector outlook. The report highlights a phased recovery in China's real estate sector, particularly in luxury residential projects in Tier-1 cities. BofAS expects gradual recovery, with national new home sales projected to decline before stabilizing in 2027. Key picks include CHINA OVERSEAS, CHINA RES LAND, and C&D INTL GROUP.

AASTOCKS News

CHINA RES LAND

CHINA OVERSEAS

Bank of America

C&D INTL GROUP

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

BofAS Lifts CHINA OVERSEAS  TP to HKD19, Positive on Sector Recovery

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KNOWLEDGE ATLAS(02513) rose 9.33%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 878.5%. VGT(02476) rose 8.47%, with a trading turnover 2.7 Billion HKD, and a year-to-date rose 75.7%. LI AUTO-W(02015) fell 14.15%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 0.1%. CHINA RES MIXC(01209) fell 6.19%, with a trading turnover 346.3 Million HKD, and a year-to-date rose 6.7%.

- The Hang Seng Index decreased by 1.11%, with a year-to-date increase of 0.2%.  
- The Hang Seng Tech Index fell by 1.95%, reflecting a year-to-date decline of 12.2%.  
- Notable stock movements include Zhizhu's 9.33% increase and an 878.5% cumulative rise for the year, alongside Lixiang Auto's 14.15% drop with minimal year-to-date growth.

Top Gainers&Losers

KNOWLEDGE ATLAS

GIGADEVICE

YOFC

Lens

LI AUTO-W

CHINA RES MIXC

AKESO

GEELY AUTO

Top 5 HK Stock Gainers/Losers (>100B) (5.18)

Daiwa's research report indicates that while CN Home sector stocks have rebounded over 20% since April, the recovery is not seen as structural due to ongoing lack of confidence among developers and homebuyers. Property sales exceeded expectations, particularly in Tier-1 cities, but high-end housing sales remain down 25% YoY. Daiwa favors state-owned developers like CHINA RES LAND and CHINA OVERSEAS, both rated Buy, as they are better positioned in the current market. The report warns of potential correction risks despite short-term price increases.

Daiwa Securities Group Inc.

Daiwa: CN Home Not in Full Recovery; Top Picks CHINA RES LAND  and CHINA OVERSEAS

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HSBC Research reports a 24% rebound in the CN Home sector, raising concerns about potential share placements by developers. While not a base-case scenario, opportunistic financing is likely due to equity re-rating. The sector is now led by financially sound state-owned and resilient private enterprises. HSBC favors CHINA RES LAND and C&D INTL GROUP for their strong earnings visibility and project pipelines, believing that any placement activities will not halt the current rally, especially with the upcoming peak season for new home sales.

HSBC HOLDINGS

HSBC

Hang Seng Index

HSBC 5xShortSG241213

HSBC Holdings Plc

HSBC Research: Even If CN Home Developers Resume Placements, Unlikely to End Current Rally; Favors CHINA RES LAND  and C&D INTL GROUP

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Yesterday's closing price for CHINA RES LAND was HKD 41.9, with a trading volume reaching HKD 150 million, and there is a noticeable trend of increasing volume. The MACD daily line formed a golden cross signal above the zero axis, indicating that a short-term upward trend has been initially established, and the continuous influx of funds has significantly improved market activity. The stock price has stabilized above several moving averages, and its steady upward trend has attracted market attention. In an environment where the overall real estate situation is gradually easing, CHINA RES LAND, as one of the industry leaders with considerable digitalization and innovation capabilities, has received high recognition from the market due to its stable cash flow and quality land policies. At the same time, the recent easing of China-U.S. relations has made the flow of international funds more favorable for returning to the Chinese market, further enhancing the attractiveness of the real estate sector as a safe-haven option, resulting in a resonance effect of dual benefits. From a technical perspective, the short-term moving average system shows a perfect bullish arrangement, combined with the establishment of the MACD golden cross, indicating a clear bullish bias in the short-term technical outlook, and market participants are relatively optimistic about future performance. The gradually increasing trading volume indicates that market transactions are more active, and the trend of capital inflow is further confirmed. The risk lies in the potential changes in national policies that may affect the overall expected direction of the industry, and potential financial risks must also be taken seriously. Therefore, while investors enjoy the current profit expectations, they should not only focus on the stability of performance but also pay attention to the dynamic changes in market risks. This article provides only technical analysis and market information for reference and does not constitute any investment advice. The market carries uncertainties, and investors should make independent decisions based on their own circumstances

Technical Forecast

ChinaAMC CSI All Share Real Estate ETF

Hwabao WP CSI 800 Real Estate ETF

China Southern CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

GF CSI All Share Financials ETF

Pre-market trend | CHINA RES LAND (1109.HK) 5/11 Real estate capital safe haven, stability expected to continue?

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Yesterday, China Overseas Development's stock price closed at HKD 23.2, with a trading volume of approximately HKD 450 million, fully reflecting the stock's activity in the real estate sector. The MACD daily line formed a golden cross above the zero axis, indicating that bullish momentum has re-emerged after a phase of consolidation, and the short-term upward trend is expected to continue. From a time perspective, the stock price has confirmed key support levels, suggesting that market expectations for a rebound are relatively stable. On the news front, signs of easing property policies in mainland China are emerging, and market funds are re-gathering in the real estate sector. Hong Kong stocks in real estate are also benefiting, with companies like China Resources Land and Longfor Group strengthening simultaneously. As a leading real estate enterprise, China Overseas Development's stability and market recognition are both positively impacted. Additionally, with improving Sino-U.S. relations, market risk appetite has increased, further enhancing the environment for overall valuation recovery in the sector. From a technical perspective, after a long period of consolidation, the appearance of the MACD golden cross provides support for the short-term technical outlook, and the moving average system is gradually shifting to a bullish arrangement, forming a strong support system. After a breakout with increased volume, the stock price is expected to maintain its operation within an upward channel in the short term. Although trading volume has increased, caution is still needed regarding the potential impact of large profit-taking at high levels on future market performance. In terms of risks, the real estate industry still needs to pay attention to policy changes, fluctuations in sales data, and macro-control risks. Investors should carefully assess their own risk tolerance. Additionally, keep an eye on how changes in news may potentially impact market capitalization. This article provides only technical analysis and market information for reference and does not constitute any investment advice

LONGFOR GROUP

Pre-market trend | China Overseas (0688.HK) shows strength on May 11, is an industry recovery expected?

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Yesterday's closing price for New Hope Service was HKD 2.0, with a trading volume of approximately HKD 890,000. The volume is relatively low, but the stock price remains around the integer level. The MACD daily line has formed a golden cross signal above the zero axis. Although the trading volume has not significantly increased, the bullish momentum has begun to regroup technically, and the short-term trend is shifting from weak fluctuations to a slightly bullish consolidation. The stock price has been consolidating around HKD 2, with the bottom gradually solidifying. On the news front, the property management sector has recently performed actively due to the favorable real estate policies. China Resources Land rose over 4%, and China Overseas Development increased nearly 3%, with the recovery expectations in the real estate chain being transmitted to the property management sub-sector. As a representative of property management companies in the Southwest region, New Hope Service has steadily increased its managed area and has certain expansion space in community value-added services, backed by the industrial resources of New Hope Group. The improvement in diplomatic interactions between the Chinese and U.S. presidents has boosted market sentiment, and undervalued defensive stocks are expected to attract marginal funds. Technically, the HKD 2.0 integer level is currently the core support level, with the stock price receiving support multiple times in this area. After the MACD golden cross is confirmed, if the subsequent trading volume can increase to several million HKD, the upward momentum will be further strengthened. The current trading volume of HKD 890,000 is at a low level, and a breakthrough still requires a catalyst. Recently, the peer company Binjiang Service has shown a strong trend, and the sector's linkage effect is expected to gradually spread to small and mid-cap property management stocks. On the risk side, the ultra-low trading volume indicates extremely limited liquidity, and prices may experience significant fluctuations due to a small number of sell orders

NEW HOPE SERV

New Hope

BINJIANG SER

Pre-market trend | New Hope Service (3658.HK) shows clear signs of stabilization with reduced volume on May 11, is a rebound window approaching?

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At market close, the HSI rose by 13 points to 26,406, while the HSTI increased by 3 points to 5,106. The HSCEI fell by 4 points to 8,884. Notable stock movements included BABA down 3.7%, while Lenovo Group, China Res Land, and China Overseas reached new highs. Market turnover was $288.49 billion, with significant short selling activity observed in several stocks.

Hang Seng TECH Index

CH OVS G OCEANS

FIT HON TENG

HSI Closes at 26,406, Up 13 pts; HSTI Closes at 5,106, Up 3 pts; BABA Down over 3%; LENOVO GROUP, CHINA RES LAND, CHINA OVERSEAS, GOFINTECH QUANT, FIT HON TENG Hit New Highs; Market Turnover Rises

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BofA Securities reports that the Chinese property market is in early recovery, with April residential sales up 18% YoY. They raised target prices for quality developers by an average of 13%, with top picks including CHINA RES LAND, CHINA OVERSEAS, and C&D INTL GROUP. Target prices were increased for these companies and YUEXIU PROPERTY, all rated Buy. Despite a bullish outlook gaining recognition, investor positioning remains cautious regarding the recovery's sustainability.

CHINA PPT INV

YUEXIU PROPERTY

GREENTOWN SER

BofAS: CN Property Mkt Still in Early Recovery; TPs Lifted for CHINA RES LAND, CHINA OVERSEAS, C&D INTL GROUP, YUEXIU PROPERTY

HU-CRL @EC2608A(21637.HK)

BofAS Lifts CHINA OVERSEAS TP to HKD19, Positive on Sector Recovery