The Everbright Securities Research Report points out that the Federal Reserve's interest rate cut cycle has begun, domestic real estate policies continue to be optimized, property management risk factors have gradually been clarified, and sector allocation values have been highlighted. It is recommended to focus on three main lines: 1) “valuation repair”: focus on the decline in risk premiums brought about by the recovery in liquidity in the real estate industry and the gradual settlement of credit risk of private housing enterprises. 2) “Balanced development”: Long-term optimism about property management companies with strong independent development capabilities, high project quality, and strong operational capacity and profitability, and focus on New Taisho, etc. 3) “Steady state-owned enterprises”: Steady development and low risk of state-owned property management companies bring valuation premiums. Focus on the poly industry, investment balance, etc.

The Everbright Securities Research Report points out that the Federal Reserve's interest rate cut cycle has begun, domestic real estate policies continue to be optimized, property management risk factors have gradually been clarified, and sector allocation values have been highlighted. It is recommended to focus on three main lines: 1) “valuation repair”: focus on the decline in risk premiums brought about by the recovery in liquidity in the real estate industry and the gradual settlement of credit risk of private housing enterprises. 2) “Balanced development”: Long-term optimism about property management companies with strong independent development capabilities, high project quality, and strong operational capacity and profitability, and focus on New Taisho, etc. 3) “Steady state-owned enterprises”: Steady development and low risk of state-owned property management companies bring valuation premiums. Focus on the poly industry, investment balance, etc.