Zhenro Properties Group

Zhenro Properties Group Limited is an investment holding company principally engaged in the sale of properties. Along with its subsidiaries, the Company provides sales of properties, property leasing business, provision of commercial property management services, and sales of goods and provision of design consultation services.
  • Ticker6158
  • ISINKYG9897E1098
  • ExchangeHong Kong Stock Exchange
  • SectorReal Estate Investment & Services
  • CountryCayman Islands
UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Desolate land market in early October.

Low-priced transactions in the land market have been occurring more frequently since Sep 19, and the land market is getting gloomier. Since 3Q19, financing has become tighter, and it is more difficult for developers to achieve rapid business expansion. Thus, overall, developers are turning more cautious in land acquisition, which explains the price and volume declines in the land market. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Housing sales volume exceeds expectations.

To ensure sufficient cash flow, accelerating cash collection has become the only goal of property developers against the backdrop of financing restrictions. Based on the last few years, the fourth quarter is the peak period of supply from developers, and also a key period for them to achieve full-year targets. For October, we expect discount promotions to remain a key strategy of developers. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Weekly: Mortgage rates continue to increase in Aug 19

The LPR is an important measure to reduce the real interest rate and will improve the credit environment as well as alleviate the pressure from tightening financing caused by various policies in recent months. But in the short term, developers will have difficulty securing funds to support their financing and mortgages. However, in the long run, mortgage rates will be more market-oriented. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Housing sales volume continued to decline in Aug 19.

Although most developers still saw a mom rise in their Aug 19 sales performance, the market is not as good as the data implies. The increase in sales performance was caused by developers increasing their supply in the second half of this year, but the overall sell-through rate of the projects was not good. Also, compared with the same period last year, developers’ overall profit growth slowed down significantly in 1H19. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - 1H19 results round-up: Rising pressure.

Since revenue of property developers has a lag of 2-3 years from pre-sales to carryover, most of the project settlements in 1H19 were sold in 2016-17. Therefore, earnings of property developers in 1H19 were still eye-catching. However, with the further tightening of policies and financing in the property sector, pressure on sales and investment will increase and impact the cash flow of developers. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Desolate land market in early October.

Low-priced transactions in the land market have been occurring more frequently since Sep 19, and the land market is getting gloomier. Since 3Q19, financing has become tighter, and it is more difficult for developers to achieve rapid business expansion. Thus, overall, developers are turning more cautious in land acquisition, which explains the price and volume declines in the land market. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Housing sales volume exceeds expectations.

To ensure sufficient cash flow, accelerating cash collection has become the only goal of property developers against the backdrop of financing restrictions. Based on the last few years, the fourth quarter is the peak period of supply from developers, and also a key period for them to achieve full-year targets. For October, we expect discount promotions to remain a key strategy of developers. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Weekly: Mortgage rates continue to increase in Aug 19

The LPR is an important measure to reduce the real interest rate and will improve the credit environment as well as alleviate the pressure from tightening financing caused by various policies in recent months. But in the short term, developers will have difficulty securing funds to support their financing and mortgages. However, in the long run, mortgage rates will be more market-oriented. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - Housing sales volume continued to decline in Aug 19.

Although most developers still saw a mom rise in their Aug 19 sales performance, the market is not as good as the data implies. The increase in sales performance was caused by developers increasing their supply in the second half of this year, but the overall sell-through rate of the projects was not good. Also, compared with the same period last year, developers’ overall profit growth slowed down significantly in 1H19. Maintain MARKET WEIGHT.

UOB
Nick Liu Sunliang ...
  • Shaun Tan

Property - 1H19 results round-up: Rising pressure.

Since revenue of property developers has a lag of 2-3 years from pre-sales to carryover, most of the project settlements in 1H19 were sold in 2016-17. Therefore, earnings of property developers in 1H19 were still eye-catching. However, with the further tightening of policies and financing in the property sector, pressure on sales and investment will increase and impact the cash flow of developers. Maintain MARKET WEIGHT.

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