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<Research>M Stanley Foresees Steeper Decline in 1Q Sales for CN Property Developers
Recommend 9 Positive 8 Negative 7 |
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According to CRIC data as quoted by Morgan Stanley's report, the contract sales of 25 major Chinese property developers tracked by the broker still declined by an average of 32% YoY in January despite the low base effect due to the Lunar New Year timing. Given weak buyer confidence, increased inventory, passive policy implementation, and a high base effect, Morgan Stanley expects sales of Chinese property developers to further deteriorate in 1Q26. Morgan Stanley remains optimistic about quality companies with credible self-rescue capabilities, including CHINA RES LAND (01109.HK) and SEAZEN HOLDINGS (601155.SH). Among residential market consolidators, it favors C&D INTL GROUP (01908.HK), citing that its optimized land reserves can support profit margins, which may bring the company back to an earnings growth track. AASTOCKS Financial News |
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