Yuexiu Property (00123) saw its shares climb more than 3% during trading. At the time of writing, the stock had risen 2.30% to HK$4.44, with a turnover of HK$398.483 million.

During the 2026 May Day Golden Week, China's real estate market experienced a broad-based upswing, marked by a strong surge in activity. Yuexiu Property delivered a particularly impressive performance, achieving single-day sales of RMB 1.6 billion on the final day of the holiday and a cumulative turnover of RMB 5.5 billion for the entire week, making it a standout performer in the sector.

In its home market of Guangzhou, Yuexiu Property recorded sales exceeding RMB 2.2 billion, accounting for nearly one-sixth of the city's total transactions. The company saw robust sales across its entire product portfolio, including luxury properties, upgraded housing, and entry-level homes, reinforcing its role as a key confidence booster for the market.

HSBC Research noted that Yuexiu Property stands to benefit from the industry recovery led by tier-one cities. The firm's headquarters city, Guangzhou, is showing signs of revival, which is expected to alleviate concerns about the performance of the weakest tier-one cities and support the group's project sales. The research house anticipates that the group will accelerate land acquisitions and capital recycling this year.

During an analyst briefing on May 6, management indicated that they are actively exploring opportunities for further asset sales, the spin-off of a China Real Estate Investment Trust (C-REIT), and potential government buybacks of idle land. HSBC views these initiatives as near-term catalysts that could drive a re-rating of Yuexiu Property's valuation.