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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.