SUNAC (01918.HK) stock surged 5.13% in intraday trading on Tuesday, following news that its subsidiary, Zhejiang Xingyuan Construction Management Co., Ltd., has won a bid to restart the long-stalled Mingwei Longjun luxury real estate project in Nanchang. This development signals a potential new revenue stream for SUNAC and demonstrates the company's ability to leverage its expertise in high-end property management.

The Mingwei Longjun project, which has been inactive for a decade, is set to be revived under SUNAC's management. With a total investment of 222.24 million yuan and 208 units planned, the project is expected to commence construction in October 2025. This win for SUNAC's subsidiary, Rujin Management, showcases the company's strategic pivot towards development management services, a move that appears to be resonating positively with investors.

Market observers note that SUNAC's expansion into comprehensive district consulting and specialized industry integration services, including tourism and commercial office spaces, may be contributing to the stock's upward momentum. The company's "Engine Plan," which aims to recruit partners nationwide, and its collaborations with state-owned urban investment companies, further underscore SUNAC's efforts to diversify its business model and strengthen its market position in a challenging real estate environment.