Galaxy Securities: The market share of top real estate companies is expected to further increase.

Galaxy Securities research report mentioned that, currently, the sales of the real estate industry are under pressure due to factors such as the relatively high base from last year, with year-on-year performance being affected. As the real estate industry as a whole is still in the bottoming phase and investment confidence has not completely recovered, the year-on-year decreases in investment starts and completions have both widened. The "Fifteenth Five-Year Plan" proposed in October 2025 suggests "promoting the high-quality development of real estate." Galaxy Securities believes that top real estate companies demonstrate excellent operational management capabilities, have a financial advantage, and have the potential to further increase market share.