On September 2, CHINA OVERSEAS rose 3.17% in regular trading, trading at HK$12.70 per share, with turnover of HK$282 million.

On the news front, CHINA OVERSEAS recently won the bid for the Zhenru Heart land plot in Putuo District, Shanghai, at a base price of approximately RMB 15.019 billion. The plot covers a total site area of roughly 119,200 square meters with a total gross floor area of about 397,000 square meters, planned for residential, commercial, and office uses, at a transacted floor price of approximately RMB 37,800 per square meter.

Including this acquisition, the company has invested over RMB 48 billion in land purchases so far this year. Management previously indicated a full-year land acquisition budget of RMB 80 billion to RMB 100 billion. In the first seven months, CHINA OVERSEAS recorded cumulative contracted property sales of approximately RMB 149.47 billion, up 13.2% year over year, while July contracted sales rose 28% to RMB 15.1 billion. The aggressive land banking strategy in top-tier cities signals confidence in the ongoing market recovery.

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