Earnings Forecast: China's real estate sector is expected to see a significant decline in earnings for covered companies in 2025, with firms like CHINA RES LAND, CHINA OVERSEAS, and C&D INTL GROUP projected to experience a 15-20% year-on-year decrease.

Market Sentiment: Despite the anticipated earnings drop, CICC maintains a positive outlook on the real estate sector for 2023, suggesting potential for positive returns and good value in stock selection for 2026.

Company Performance: Some companies, including GREENTOWN CHINA and YUEXIU PROPERTY, may report marginal profits, while others like LONGFOR GROUP and URBAN CONS DEV could face slight losses, with a few firms expected to see steady core profits.

Stock Ratings: CICC has kept its ratings and target prices unchanged for various Chinese developers, highlighting stocks such as BINJIANG GP and SEAZEN HOLDINGS as outperformers in the market.

Fitch Rating Affirmation: Fitch has affirmed CH OVS G OCEANS' Long-Term Foreign-Currency Issuer Default Rating at "BBB" with a Stable Outlook, and assigned the same rating to its proposed senior unsecured notes and dim sum bonds.

Comparison with Parent Company: The rating for CH OVS G OCEANS is lower than the Standalone Credit Profile of its parent company, CHINA OVERSEAS, which is rated "BBB+" due to CH OVS G OCEANS' limited scale and lower significance in national housing construction goals.

Citi's Ratings for Chinese Property Developers: Citi has provided investment ratings and target prices for various Chinese property developers, with ratings ranging from "Buy" to "Sell/High Risk" based on their performance and short selling ratios.

Target Prices Overview: Target prices for selected developers include Agile Group at HKD 0.53, C&D International Group at HKD 22.5, and China Overseas at HKD 17.2, reflecting varying levels of investor confidence.

Citi's Ratings for Brokerage Platforms: The investment ratings for Chinese brokerage platforms and project managers also indicate a "Buy" recommendation for companies like KE Holdings and Greentown Management, with target prices set at USD 22.6 and HKD 3.45, respectively.

Market Reactions and Short Selling: The report highlights significant short selling activity across various stocks, indicating market volatility and investor caution, particularly in the context of the Chinese real estate sector.

Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with Agile Group and C&D International Group experiencing slight gains, while CIFI Hold GP and China Jinmao saw declines.

Investment Ratings: Investment ratings varied across companies, with several stocks like C&D International Group and China Overseas rated as "Buy," while others like CIFI Hold GP and Country Garden were rated as "Sell (High Risk)."

Short Selling Activity: Significant short selling activity was noted, particularly in stocks like KE Holdings and C&D International Group, indicating investor caution or bearish sentiment.

Market Insights: JPMorgan highlighted that mortgage subsidies alone may not be enough to revitalize the Chinese property market, suggesting a need for broader measures to attract investor confidence.

Stock Performance: CH OVS G OCEANS (00081.HK) experienced a slight decline of 0.427% in its stock price, with a short selling amount of $1.22 million and a ratio of 41.282%.

Sales Figures: The company's property contracted sales for November totaled RMB2.289 billion, with a contracted gross floor area (GFA) of 210,400 square meters, reflecting a year-on-year decrease of 43.7% in sales and 38% in GFA.