Chinese property stocks traded in Hong Kong experienced a collective decline. At the time of writing, R&F PROPERTIES (02777) fell 13.68% to HK$0.41, SUNAC (01918) dropped 5.98% to HK$1.1, SEAZEN (01030) decreased 5.24% to HK$1.99, and CHINA OVERSEAS (00688) was down 4.12% to HK$11.87. On the news front, data from the National Bureau of Statistics showed that from January to February, the sales area of new commercial housing was 92.93 million square meters, a year-on-year decrease of 13.5%, with the decline widening by 4.8 percentage points compared to the full year 2025. In February, among the 70 large and medium-sized cities, the month-on-month sales price of new commercial residential buildings in first-tier cities shifted from a 0.3% decline in January to being flat, while the year-on-year figure fell 2.2%. Ten cities saw month-on-month increases in new home sales prices. Kaiyuan Securities noted in a report that this week, the tracked transaction area for new homes in 30 cities nationwide and for existing homes in 15 cities both recorded year-on-year declines for the sixth consecutive week, indicating that the strength of the spring sales season is slightly weaker than expected. This week, the central bank reiterated its commitment to maintaining an appropriately accommodative monetary policy. Cities including Nanjing and Zhengzhou have introduced a series of property market optimization measures. With the implementation of various policies aimed at stabilizing the property market, it is anticipated that the sector will see improved supply and demand and stabilized prices. The brokerage maintains an "Overweight" rating on the industry.