On June 22, China Resources Land fell 3.43% in regular trading, trading at HK$30.9/share, with turnover of HK$285 million. The decline was driven by sustained weakness across the mainland property sector as May real estate data underscored ongoing industry headwinds.

According to the latest National Bureau of Statistics figures, nationwide real estate development investment fell 16.2% year-on-year for January-May, while new commercial housing sales area declined 10.8% and sales revenue dropped 13.5%. The 70-city new home price index fell 0.2% month-on-month in May, signaling persistent downward pressure. The broader sector saw widespread declines, with Sino Land down 4.75%, Sunac down 2.78%, Henderson Land down 2.09%, and China Overseas Development down 2.06%.

On fundamentals, the company reported May contracted sales of approximately RMB 23.51 billion, up 28% year-on-year. On the same day, it announced a 36-month term loan facility of up to RMB 1 billion. Bocom International and Morgan Stanley both maintain bullish ratings with a target price of HK$42.6.

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