Key Takeaways:
Sino-Ocean Group Holding Ltd.’s contracted sales plunged for a fourth consecutive month, adding to the gloom in China’s property market as government support measures fail to spark a meaningful recovery.
"The continued sales decline at a major developer like Sino-Ocean highlights the deep-seated challenges in the sector," said a real estate analyst at a major investment bank. "Buyer sentiment remains weak, and the liquidity crisis for developers is far from over."
The Beijing-based developer said April’s contracted sales tumbled 41.99% from a year earlier to approximately RMB1.63 billion ($225 million), according to a statement filed with the Hong Kong Stock Exchange. For the first four months of 2026, accumulated sales were down 42.27% to RMB4.67 billion. The average selling price in the January-April period was RMB14,200 per square meter.
The persistent sales slump underscores the immense pressure on Chinese developers, even after Beijing rolled out a flurry of policies to support the ailing property market. The sector, a pillar of China's economy, has been grappling with a liquidity crisis since 2021, leading to a string of defaults by major developers and leaving many unfinished projects. The weakness in the property market has weighed on the broader economy, with a knock-on effect on related industries from construction to home appliances. The CSI 300 Real Estate Index has fallen more than 15% this year, underperforming the broader market.
This article is for informational purposes only and does not constitute investment advice.
