Takeaway from QDII clients meetings

• Most are negative as they view economic and policy
outlook as unfavourable for the sector
• Nonetheless, most listed developers outperformed in
presales over 4M11
• A rising number of developers outperformed HSI
• Expect to uncover values of more property stocks in
2H. We favour Evergrande (3333HK), COLI (688HK),
Sino Ocean (3377HK) and Agile (3833HK)

共13页，作者Carol WU