On July 2, China Resources Land rose 3.93% in regular trading, reaching HK$31.16 per share with turnover of HK$365 million, as mainland property stocks broadly rallied during the session.

The move came amid surging land auction activity in core cities during June. Research data showed that among the top 100 developers by land acquisition value in the first half of the year, China Resources Land ranked among the top three alongside Yuexiu Property and Poly Developments. While aggregate land spending declined 33.7% year-over-year, the rate of decline narrowed for the fourth consecutive month, reflecting improving sentiment driven by policy tailwinds from cities like Shenzhen.

China Resources Land has been a consensus top pick among major brokerages including Morgan Stanley, Daiwa, and Goldman Sachs, supported by strong operational momentum — May contracted sales surged 28% year-over-year to RMB 23.5 billion, while recurring rental income grew 13% year-over-year. The company also recently secured Hong Kong Exchange approval to spin off shopping mall assets via a REIT on the Shenzhen Stock Exchange.

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