The intensive policy of ＂Fengkou Research Report＂ helps to maintain stability. The real estate market industry is at a double bottom in performance valuation.

　　On January 26,Shanghai stock indexThe intraday bottom rebounded and stuck to 2900 points; Shenzhen Component Index,Growth enterprise market indexSignificantly lower, the turnover of the two cities exceeded 800 billion yuan, and the northbound funds flowed in slightly.

　　The industry sector rose less and fell more.Real estate development、Real estate service、bank、Railway highway、Aviation airportThe plate was among the top gainers.semiconductor、medical service、consumer electronics、photovoltaic device、biological productThe plate was among the top losers.

　　On the morning of January 26th, the Ministry of Housing and Urban-Rural Development held the deployment meeting of the coordination mechanism of urban real estate financing. The meeting emphasized that accelerating the implementation of the coordination mechanism of urban real estate financing was effective, supporting the development and construction of real estate projects, meeting the reasonable financing needs of real estate enterprises of different ownership equally, and promoting the stable and healthy development of the real estate market. The Ministry of Housing and Urban-Rural Development has made great efforts to implement the mechanism. It is understood that before the end of this month, the first batch of projects can win loans after landing. Previously, the central bank and the General Administration of Financial Supervision jointly issued the Notice on Doing a Good Job in the Management of Operating Property Loans to give full play to the role of operating property loans and meet the reasonable financing needs of real estate enterprises.Guojin securitiesSaid that the real estate industry is inperformanceAnd a double bottom of valuation;Huatai SecuritiesPoint out,moneyFurther efforts of the policy will help stabilize the real estate market from the financing side and the demand side;Central china securitiesIt is believed that the promotion of real estate policy is expected to increase home demand and pay attention to the low valuation leader of the sub-sector.

　　Guojin securitiesThe real estate industry is at the bottom of both performance and valuation.

　　The central government attaches importance to the health of real estate financing, and the financial industry is duty-bound to strongly support real estate, and will further optimize the down payment ratio and loans in the future.interest rateThe support from the financing side improves the cash flow of housing enterprises to a certain extent, and the key to the stable and healthy development of the industry lies in the stabilization of sales, which still needs the continuous support of comprehensive easing policies at both ends of supply and demand. Or we can focus on the improved central state-owned enterprises with the bottom of the current valuation, good operating conditions and benefiting from the optimization of the industry structure. The real estate industry is at the bottom of both performance and valuation, and the policy catalyzes or welcomes layout opportunities. The improvement of operating property loan policy can improve the cash flow of housing enterprises to a certain extent, and the key to the stable and healthy development of the industry lies in the stabilization of sales, which still needs the continuous support of loose policies. Recommend housing enterprises with high-quality assets that are directly benefited by the operating property loan policy, such asChina resources Land、Merchants shekouWait; Recommend improved housing enterprises that benefit from the optimization of industry structure, such asYuexiu real estate、Huafa stockWait.

　　Huatai SecuritiesFurther efforts of monetary policy will help stabilize the real estate market from the financing side and the demand side.

　　The further development of monetary policy will help stabilize the real estate market from the financing side and the demand side. The optimization of operating loans is expected to clear the financing channels for housing enterprises with high-quality assets, and the progress of Baojielou is expected to restore the confidence of buyers. It is suggested that attention should be paid to state-owned enterprises with old renovation experience and rich resources in core cities and housing enterprises with improved product capabilities, and companies with outstanding agent construction capabilities are also expected to benefit.

　　Central china securities: The promotion of real estate policy is expected to increase home demand, and pay attention to the low valuation leader of the sub-sector.

　　Recently, the favorable policies for real estate are frequent, and the consumption policies are overweight, so the real estate is expected to improve. With the gradual recovery of consumption, the demand for household consumption accumulated by rapid growth in the previous period is expected to be gradually released in the future, giving the industry a "synchronous market" rating for the first time. It is recommended to pay attention to the leading enterprises with low valuation in the household sector and the entertainment and light industry sector.

　　The establishment of the coordination mechanism of urban real estate financing shows that the financing support of the real estate industry is increasing at present. The improvement of the financing end may help the property market gradually stabilize, the capital advantage of the head housing enterprises may be highlighted, and the supply-side policy will continue to relax or have a greater marginal impact on some housing enterprises. look to further increaseWanke a、Merchants shekou、Poly development、Binjiang group、Longhu group、Gemdale; Suggested attention 1. High-quality development,Lvcheng China、China resources Land、China overseas development; 2, high-quality property management,Vanguard Wanxiang Life、Zhonghai property; 3. High-quality business,da yue cheng、Henglong real estate; 4, the agent faucet,Lvcheng management holding; 5. Intermediary faucetShell -W.

　　Including affordable housing, urban village reconstruction, and "flat and emergency" public infrastructure.Engineering constructionIt has become a starting point for building a new development model of real estate and helping the market to repair the bottom. In the medium and long term, the annual demand center of housing in China is about 900 million square meters. In terms of investment, it is suggested to focus on two main lines: demand restoration and urban village reconstruction.

　　The relationship between supply and demand in China’s real estate market has undergone major changes. In 2024, real estate sales may show a trend of low before and high after. With the improvement of the transformation of villages in cities and the improvement of supply and demand policies, the annual sales area is expected to be -9.0%, the amount is expected to be -7.5%, and the development investment is expected to be -8.0%. At present, the industry is in the adjustment stage, but it is supported in the medium and long term. The industry will usher in a new model of urban village reconstruction and affordable housing construction. The reconstruction of villages in cities is conducive to expanding domestic demand and optimizing the real estate structure. It is estimated that the overall scale of villages in cities in 35 cities is 1.23 billion square meters, and the annual sales amount will be 1.76 trillion yuan in 10 years. Affordable housing is conducive to alleviating housing contradictions in big cities and effectively promoting real estate transformation and high-quality development.

　　(This article does not constitute any investment advice, and investors should act accordingly at their own risk. The market is risky and investment needs to be cautious. )

(Article source:eastmoney terminalResearch center)