The CITIC Securities Research Report believes that in the short term, the existing housing sales reform will further speed up the optimal revitalization and disposal of non-performing assets. Assets that are still difficult to sell are still difficult to sell, and land that does not have development conditions may be converted for use or depreciated. Non-performing assets are the main burden on developing companies' balance sheets. Accelerating disposal puts some pressure on profit statements in the short term, while promoting enterprise differentiation in the medium to long term. The balance sheets of enterprises with financing capabilities and product development capabilities are expected to stabilize faster.

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