HK Stock Market Move | Inner board stocks fell across the board in early trading, with concerns in the market sparked by negative news on real estate companies. SUNAC (01918) fell by nearly 29% at one point.

In the housing sector, stocks across the board are in decline. As of the time of writing, SUNAC (01918) fell by 26.86% to 1.28 Hong Kong dollars; RONSHINECHINA (03301) fell by 11.07% to 0.249 Hong Kong dollars; SHIMAO GROUP (00813) fell by 8.42% to 0.87 Hong Kong dollars; R&F PROPERTIES (02777) fell by 7.87% to 1.17 Hong Kong dollars; AGILE GROUP (03383) fell by 7.58% to 0.61 Hong Kong dollars. On the news front, according to judicial institution websites, CHINA CINDA (Hong Kong) Asset Management Co., Ltd. has filed for liquidation against SUNAC in Hong Kong, with a hearing scheduled for March 19. It is worth noting that other real estate companies have recently encountered negative news, with R&F PROPERTIES previously announcing that Guangzhou YueXiu District People's Court declared on December 17 that the company refused to fulfill its obligations under valid legal documents due to its ability to do so and without justifiable reason refused to fulfill execution and settlement agreements, resulting in R&F PROPERTIES being included in the list of dishonest executed persons. That evening, R&F PROPERTIES also disclosed the outstanding balance of interest-bearing debts overdue within the scope of the company's consolidated financial statements as of October 31 totaling more than 10 million yuan. Data from China Real Estate Index Institute showed that in 2024, the total sales of the top 100 real estate companies amounted to 435.47 billion yuan, a year-on-year decrease of 30.6%, narrowing by 2.3 percentage points from the previous month. In December alone, the sales of the top 100 real estate companies decreased by 3.41% year-on-year, with a narrowing decline, and a month-on-month increase of 28.86%. Ping An Securities research report pointed out that in 2024, the real estate market will continue to adjust in terms of quantity and price, and national investment and sales will continue to be under pressure in 2025. Tianfeng stated that looking ahead to January, the combination of seasonal factors and the Spring Festival holiday may lead to a probable decline in sales of real estate enterprises, but considering the lingering market heat, there is still a chance of a year-on-year flat performance, so there is no need to be overly pessimistic about the fundamentals in the short term.