According to the CITIC Securities Research Report, during the National Day holiday in 2026, second-hand housing sales increased sharply by 57% year on year, which is basically the same as the same period in 2024. Looking at the longer period including Mid-Autumn Festival and National Day, second-hand housing transactions in 2026 are clearly more active than in 2024 and 2025. CITIC Securities believes that the 2026 market has a foundation for continued activity, and that the level of many important indicators is more reasonable. The fourth quarter performance is expected to be better than the same period in 2024.

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