China’s June sales are stable

Citigroup published a research report that due to the launch of new projects, mainland real estate developers are expected to maintain stable sales in June, and the stock price may outperform the market, and Sunac (1918) is one of the bank’s top picks.

Citigroup said that good results in the first half of the year, coupled with attractive valuations, will support the stock price of China property stocks, while companies with diversified land reserves and countercyclical rents will outperform the market.

The bank also said that in addition to Sunac, other recommended shares include Xincheng Development Holdings (1030), Jinmao (817), Aoyuan (3883), Longhu (960) and Longguang Real Estate (3380).