China's Key Developers Likely on Path to Earnings Recovery -- Market Talk

Dow Jones

2025/10/23

0445 GMT - China's key developers are likely on the path to an earnings recovery next year, HSBC analysts say in a research note. Selling prices of six developers' key projects examined by HSBC have achieved higher margins so far this year than in 2024, signaling normalized margins for these developers. "We remain positive on leading developers for their market share gains and clear trajectory for earnings recovery," they say. From 2026, HSBC expects China Resources Land, C&D International, Greentown and Yuexiu to deliver better earnings than their respective precrisis peaks. Meanwhile, the analysts think the pullback in developers' share prices since mid-September is healthy, with current valuations presenting better risk-reward. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

October 23, 2025 00:45 ET (04:45 GMT)

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Selling prices of six developers' key projects examined by HSBC have achieved higher margins so far this year than in 2024, signaling normalized margins for these developers. \"We remain positive on leading developers for their market share gains and clear trajectory for earnings recovery,\" they say. From 2026, HSBC expects China Resources Land, C&amp;D International, Greentown and Yuexiu to deliver better earnings than their respective precrisis peaks. Meanwhile, the analysts think the pullback in developers' share prices since mid-September is healthy, with current valuations presenting better risk-reward. 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Selling prices of six developers' key projects examined by HSBC have achieved higher margins so far this year than in 2024, signaling normalized margins for these developers. \"We remain positive on leading developers for their market share gains and clear trajectory for earnings recovery,\" they say. From 2026, HSBC expects China Resources Land, C&amp;D International, Greentown and Yuexiu to deliver better earnings than their respective precrisis peaks. Meanwhile, the analysts think the pullback in developers' share prices since mid-September is healthy, with current valuations presenting better risk-reward. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 23, 2025 00:45 ET (04:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0370786039.SGD","symbol_name":"Fidelity Greater China A-SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2577326505","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2577326505","pubTimestamp":1761194700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0445 GMT - China's key developers are likely on the path to an earnings recovery next year, HSBC analysts say in a research note. Selling prices of six developers' key projects examined by HSBC have achieved higher margins so far this year than in 2024, signaling normalized margins for these developers. \"We remain positive on leading developers for their market share gains and clear trajectory for earnings recovery,\" they say. From 2026, HSBC expects China Resources Land, C&D International, Greentown and Yuexiu to deliver better earnings than their respective precrisis peaks. Meanwhile, the analysts think the pullback in developers' share prices since mid-September is healthy, with current valuations presenting better risk-reward. 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Selling prices of six developers' key projects examined by HSBC have achieved higher margins so far this year than in 2024, signaling normalized margins for these developers. \"We remain positive on leading developers for their market share gains and clear trajectory for earnings recovery,\" they say. From 2026, HSBC expects China Resources Land, C&D International, Greentown and Yuexiu to deliver better earnings than their respective precrisis peaks. Meanwhile, the analysts think the pullback in developers' share prices since mid-September is healthy, with current valuations presenting better risk-reward. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 23, 2025 00:45 ET (04:45 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}