According to the CITIC Securities Research Report, the press conference of the State Information Office on October 17 introduced the situation relating to promoting the steady and healthy development of the real estate market, focusing on clarifying future policy directions such as repurchasing existing land, upgrading urban villages, and strengthening the whitelist mechanism. We believe that the current policy reflects a firm determination to strictly control growth, optimize stocks, and improve quality. Among them, the land repurchase policy may play an extremely critical role in optimizing the balance sheets of real estate companies and consolidating the net assets of enterprises. The monetized settlement of urban village renovation is also conducive to increasing short-term market demand. Overall, we believe that the real estate market is stopping falling and stabilizing, and that blue-chip real estate development companies have obvious investment value.

According to the CITIC Securities Research Report, the press conference of the State Information Office on October 17 introduced the situation relating to promoting the steady and healthy development of the real estate market, focusing on clarifying future policy directions such as repurchasing existing land, upgrading urban villages, and strengthening the whitelist mechanism. We believe that the current policy reflects a firm determination to strictly control growth, optimize stocks, and improve quality. Among them, the land repurchase policy may play an extremely critical role in optimizing the balance sheets of real estate companies and consolidating the net assets of enterprises. The monetized settlement of urban village renovation is also conducive to increasing short-term market demand. Overall, we believe that the real estate market is stopping falling and stabilizing, and that blue-chip real estate development companies have obvious investment value.