HK Stock Market Move | CHINA CINDA (01359) rises by more than 4%, collaborating with Cinda Real Estate to establish a fund to revitalize assets. The company benefits from the release of special bond storage quotas.

CHINA CINDA (01359) rose over 4% in early trading, up 3.42% to HK$1.21 as of the time of writing, with a transaction amount of HK$77.267 million. In terms of news, Cinda Real Estate announced the establishment of a 20 billion yuan distressed asset relief and revitalization fund for the real estate industry together with CHINA CINDA and Xinshengli. Industrial pointed out that from 2022 to the end of September 2024, CHINA CINDA has participated in 152 real estate risk resolution projects with a total scale of 73.7 billion yuan, ensuring the on-time delivery of 101,000 units of commercial housing and driving the resumption of work on projects worth 322 billion yuan. Tianfeng pointed out that within the newly issued special bonds quota in 2025, local governments can arrange for land reserves and acquisition of existing commercial housing as needed, with both policies gradually being implemented in 2025. We believe that the release of a larger scale of special bonds for land reserves and acquisitions will continue to benefit the resolution of local government debt, improve the asset quality of developers, and expand AMC businesses.