China’s State Council published amendments to the Housing Provident Fund
Management Regulations, effective Sept. 20. Listed property-services and
property-management stocks moved following the announcement. Wo Ai Wo Jia said
share moves reflect multiple factors and highlighted business presence beyond
Beijing, notably in Shanghai, Suzhou, Hangzhou and Nanjing. Shilianhang said its
operations divide into large transactions (primary-market agency sales) and
asset management (property and apartment management); primary-sales are
concentrated in Guangzhou, Shenzhen and Huizhou, the company does not cover the
secondary-market and property operations show strong regional divergence. Nandu
Property said the allowance for provident fund payments of property fees is not
yet in force and currently has limited near-term impact on fundamentals; refer
to the company’s interim report for performance details.
