HK Stock Market Move | YUEXIU PROPERTY (00123) rose nearly 4% with a year-on-year increase of 46.8% in October's sales revenue. Recently, they have accelerated their land acquisition to supplement their inventory.

YUEXIU PROPERTY (00123) rose by nearly 4%, and as of the time of writing, it has risen by 3.78% to HK$6.86, with a trading volume of HK$69.89 million. On the news front, YUEXIU PROPERTY announced that in the first 10 months of 2024, the cumulative contract sales amount was approximately RMB 91.003 billion, a decrease of 24.8% compared to the same period last year, and the cumulative contract sales area was approximately 3.098 million square meters, a decrease of 16.8% year-on-year. This sales performance accounted for 61.9% of the company's 2024 contract sales target of RMB 147 billion. In October, YUEXIU PROPERTY achieved a contract sales amount of approximately RMB 13.361 billion, an increase of 46.8% year-on-year, and a contract sales area of approximately 469,900 square meters, a 37.5% increase year-on-year. Furthermore, on November 5, 2024, through Wuhan Kangjing Industrial Investment Co., Ltd. (Wuhan Kangjing, a subsidiary company in which the company actually holds 99.638% equity), the company successfully acquired the Beijing Haidian District Gongdesi Shantytown Renovation Project HD-GDS-002 plot (Gongdesi plot in Haidian District, Beijing) through public bidding for RMB 6.3825 billion. The announcement stated that the board of directors believes that the company's acquisition of the Gongdesi plot in Haidian District, Beijing at a reasonable cost will increase the company's high-quality land reserve and further consolidate the company's strategic position in Beijing. According to the YUEXIU PROPERTY announcement, in the past October, the company acquired a total of 5 plots of land, including 1 in Guangzhou, 3 in Beijing, and 1 in Chengdu, with a total land acquisition amount of approximately RMB 2.624 billion.