Shares of Greentown China Holdings Limited (HKG:03900) surged 6.4% on November 7, 2024, outpacing the broader market. The strong performance came after the real estate developer reported robust sales figures for October and the year-to-date period.
According to a filing with the Hong Kong Stock Exchange, Greentown China logged sales of approximately 15.4 billion yuan (around $2.2 billion) in October, including contracted and subscription sales. The average selling price for the month stood at 29,755 yuan per square meter.
For the period from January to October 2024, the company's contracted sales reached an impressive 215 billion yuan (around $30.5 billion), with a total saleable area sold of approximately 10.9 million square meters. These strong sales figures likely boosted investor sentiment and confidence in Greentown China's performance, driving the stock higher.
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