Stimulated by the news that China Evergrande plans to sell its automobile and property equity, China Evergrande, Evergrande automobile and Evergrande property, its three Hong Kong stock companies, all saw a sharp rise.
In early trading, China Evergrande once rose nearly 12%. As of press time, the stock rose by more than 6%, with a market value of more than 80 billion yuan. Evergrande property rose by more than 14%, and Evergrande automobile rose by more than 4%.
In terms of a shares, the real estate sector also continued to break out, with an overall increase of more than 4%. CCCC real estate rose by the limit, Poly Real estate rose by more than 9%, special development services rose by more than 7%, and many leading real estate stocks such as Vanke A and Jindi group rose by different ranges.
For the reasons for the collective rise of real estate stocks, insiders believe that, on the one hand, it is related to the low overall valuation level and performance repair of the real estate industry; On the other hand, it may be related to short-term policies. It is reported that recently, Qingdao, Shenzhen, Tianjin and other places suspended the second centralized land supply.
Evergrande plans to sell shares in cars and properties
Its companies rose sharply for three consecutive days
On the evening of August 10, China Evergrande group announced that it was contacting several potential independent third-party investors to discuss the sale of some of the company’s assets, including but not limited to the sale of some interests of China Evergrande new energy automobile (00708, HK), a listed subsidiary of the company, and Evergrande property group (06666, HK).
In fact, as early as August 9, there was news in the market that under the coordination of relevant departments, a group of powerful state-owned enterprises may take over the corresponding assets of Evergrande to help Evergrande overcome the difficulties of short-term capital liquidity.
Stimulated by the news, Evergrande stocks have risen for three consecutive days. From August 9 to press release, China Evergrande has increased by more than 20%; Evergrande property has increased by more than 50%; Evergrande motor rose more than 18%.
Yan Yuejin, research director of E-House real estate, said that for Evergrande, the sale of its high-quality assets can greatly alleviate the capital pressure of the enterprise at this stage. Such a sale plan helps to calm the mentality of creditors and release the signal that the future liquidity of the enterprise can be improved.