Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

A commentary on the latest official data on China housing markets from the National Bureau of Statistics (NBS) released today and yesterday. Price growth accelerated marginally year-on-year, with a stable growth month-on-month. New home sales (in gross floor area) growth picked up. Land sales (land acquisitions by developers) stayed negative year-to-date year-on-year after the big drop in recent months.

A commentary on the latest official data on China housing markets from the National Bureau of Statistics (NBS) released today and yesterday. Price growth accelerated marginally year-on-year, with a stable growth month-on-month. New home sales (in gross floor area) growth picked up. Land sales (land acquisitions by developers) stayed negative year-to-date year-on-year after the big drop in recent months.

China Housing: Volumes Growth Up, Land Sales Down, Prices Up (April NBS Data)

We assume that the growth in the house price index of 100 major cities represents the overall 'portfolio' return and calculate how removing Tier-1, Tier-2, Tier-3/Other cities from the 'portfolio' would have impacted the return for March 2018 - March 2019 and December 2016 - March 2019 periods.

We assume that the growth in the house price index of 100 major cities represents the overall 'portfolio' return and calculate how removing Tier-1, Tier-2, Tier-3/Other cities from the 'portfolio' would have impacted the return for March 2018 - March 2019 and December 2016 - March 2019 periods.

China Housing: If Cities Were... Stocks - How Have City Tiers Impacted Returns In The Recent Years?

Based on March and partial weekly April data, in this monthly China Housing commentary, we give our take on the overall housing market performance, its drivers and the outlook, focusing on housing specific metrics.

Based on March and partial weekly April data, in this monthly China Housing commentary, we give our take on the overall housing market performance, its drivers and the outlook, focusing on housing specific metrics. 

The data released by NBS over the past 2 days shows the market for new home sales in China continues to slow down, with volumes in decline on a year-to-date year-on-year measure for January-February. Price growth is slowing month-on-month, though by one measure still rising faster year-on-year.

The data released by NBS over the past 2 days shows the market for new home sales in China continues to slow down, with volumes in decline on a year-to-date year-on-year measure for January-February. Price growth is slowing month-on-month, though by one measure still rising faster year-on-year.

China Housing: Price Growth Slowing Down, With YTD Y/Y Decline In Volumes

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Yincheng International Holding / Equity Capital Markets

Yincheng International, a China Yangtze delta focused property developer, is raising up to USD 110 million to list on the Hong Kong Stock Exchange. In this note, we will cover the following topics:
<ul class="">
<li>The company's property portfolio</li>
<li>Financial performance that concerns us</li>
<li>Shareholders and use of proceeds</li>
<li>Our view on the deal</li>
</ul>

Yincheng International, a China Yangtze delta focused property developer, is raising up to USD 110 million to list on the Hong Kong Stock Exchange. In this note, we will cover the following topics:

The company's property portfolio
Financial performance that concerns us
Shareholders and use of proceeds
Our view on the deal


Yincheng Intl (银城国际) IPO Quick Note: A Highly Levered Nanjing Developer Bet

China

Midea Real Estate Holding Limited operates as a holding company. The Company, through its subsidiaries, provides property management, property sales, property development, and other services.

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Midea Real Estate Holding (3990 HK)

China Housing: Volumes Growth Up, Land Sales Down, Prices Up (April NBS Data)

A commentary on the latest official data on China housing markets from the National Bureau of Statistics (NBS) released today and yesterday. Price...

Robert Ciemniak

China Housing: If Cities Were... Stocks - How Have City Tiers Impacted Returns In The Recent Years?

We assume that the growth in the house price index of 100 major cities represents the overall 'portfolio' return and calculate how removing Tier-1,...

Robert Ciemniak

China Housing - April 2019 Commentary

Based on March and partial weekly April data, in this monthly China Housing commentary, we give our take on the overall housing market performance,...

Robert Ciemniak

China Housing: Price Growth Slowing Down, With YTD Y/Y Decline In Volumes

The data released by NBS over the past 2 days shows the market for new home sales in China continues to slow down, with volumes in decline on a...

Robert Ciemniak

Yincheng Intl (银城国际) IPO Quick Note: A Highly Levered Nanjing Developer Bet

Yincheng International, a China Yangtze delta focused property developer, is raising up to USD 110 million to list on the Hong Kong Stock Exchange....

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)