China Resources Land Ltd

All five plots in Shanghai’s seventh batch of concentrated land auctions were sold, raising a total of 9.06 billion yuan. Among them, a residential plot in Pudong’s Zhangjiang area, offered for the first time in 12 years, was won by Lianfa Group for 816 million yuan, at a premium rate of 26.92 percent. A plot in Pudong’s Tangzhen area was sold for 1.58 billion yuan after 47 rounds of bidding, with a premium rate of 28.45 percent and a floor price of 48,114 yuan per square metre. A plot in Jiading’s Nanxiang area was won by China Resources Land for 1.614 billion yuan, at a premium rate of 13.98 percent. Another plot sold in this batch, located in Jiading District, was plot 74-04 in Jiading District’s JDC1-0501 unit. Greentown China’s subsidiary, Greentown Real Estate Group, acquired it at the reserve price of 1.204 billion yuan, with a floor price of 18,200 yuan per square metre. A mixed-use commercial, residential and office complex in the core area of Hongkou’s North Bund was sold at the reserve price of 3.845 billion yuan, marking the first time Shanghai has bundled residential, hotel, office and commercial space into a single super high-rise building for sale. The market overall maintained a trend of stable volume and flat prices, with three plots sold at a premium and two at the reserve price. Premium rates ranged from 14 percent to 28.5 percent, reflecting a diverging pattern where competition for quality plots is orderly while ordinary plots are supported by reserve prices.

The products managed by two star fund managers at Ruiyuan Fund, Fu Pengbo and Zhao Feng, have disclosed their second-quarter 2026 reports, revealing their latest top ten heavy-weight holdings. The Ruiyuan Growth Value Hybrid Fund, managed by Fu Pengbo and Zhu Lin, initiated a position in Focuslight Technologies for the first time with 4.5277 million shares, while significantly reducing holdings in Zhongji Innolight and Dongshan Precision. Its Hong Kong stock allocation dropped to a historic low of 3.35%. The Ruiyuan Balanced Value Three-Year Holding Fund, managed by Zhao Feng, bought back into WuXi Biologics after a one-year hiatus, with a position of 9.4275 million shares, and increased holdings in ZTO Express and China Resources Land. At the end of the second quarter, the Ruiyuan Growth Value Hybrid Fund had a net asset value of 22.201 billion yuan, an increase of 4.045 billion yuan from the end of the first quarter, with the Class A share net value growth rate at 45.79%. In their quarterly reports, the two fund managers stated that the portfolio added targets in high-power semiconductor lasers and micro-nano optical solutions, reduced holdings in internet technology companies, and believe that the high returns implied by excessively low valuations are certain.