GREENTOWN CHINA Holdings shares plummeted 5.84% during Wednesday's intraday trading session after the company reported disappointing sales figures for December 2024. The real estate developer recorded total contracted sales of around 21.7 billion yuan for the month, with an average selling price of 31,504 yuan per square meter.
For the full year 2024, Greentown logged total contracted sales of approximately 276.8 billion yuan and a sales area of 14.1 million square meters. While these annual figures were an improvement over the previous year, investors seem concerned about the company's sales momentum heading into 2025.
The lackluster December sales data suggests that Greentown may be facing headwinds in the Chinese property market, leading to the sharp sell-off in the company's shares. Analysts will be closely watching the developer's upcoming quarterly results and guidance for any potential impact on its financial performance and future growth prospects.
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