On October 2, LONGFOR GROUP fell 5.09% in regular trading, trading at HKD 5.395 per share, with turnover of approximately HKD 49.26 million. The Real Estate Development sector broadly weakened, with China Resources Land down 3.99%, Henderson Land down 3.59%, China Overseas Development down 3.27%, and Sunac China down 6.11%.

On the policy front, institutions noted that the recently implemented mortgage interest subsidy policy is a targeted measure aimed at specific first-time homebuyers rather than broad-based stimulus. Three rigid qualifying conditions significantly limit its impact on core areas of high-priced cities, and the sector extended its pullback following the policy announcement. The measure was characterized as a precise support tool for rigid demand rather than a comprehensive catalyst for recovery.

On the fundamental side, LONGFOR GROUP's interim results showed first-half revenue of RMB 39.8 billion, down 32.3% year-over-year, with core profit of only RMB 64 million, indicating that fundamental recovery still requires time. Additionally, HSBC International Trustee Limited recently reduced its stake by 10 million shares at an average price of HKD 5.8139, lowering its position from 62.02% to 61.88%, adding further selling pressure.

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