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Equity Bottom-Up

Poly Real Estate Group Co., Ltd / Equity Bottom-Up

Poly Real Estate Group Co., Ltd (600048 CH)

<ul><li>The stock of <strong>Poly Development and Holdings Group Co. Ltd. </strong>jumped 7.6% Tuesday after the leading developer unveiled an up to 2-billion-yuan ($279 million) share buyback aimed at arresting its sliding equity price.</li><li>Shares of Poly Development closed at 10.34 yuan in Shanghai Tuesday, compared with 9.61 yuan at Monday's closing. The stock has nearly halved from the 18.59-yuan peak in April 2022 after the persistent downturn in the property market.</li><li>Poly Development, China’s largest developer by sales this year, said late Monday that it plans to buy back 1 billion yuan to 2 billion yuan of its own shares in the next three months.</li></ul>

The stock of Poly Development and Holdings Group Co. Ltd. jumped 7.6% Tuesday after the leading developer unveiled an up to 2-billion-yuan ($279 million) share buyback aimed at arresting its sliding equity price.Shares of Poly Development closed at 10.34 yuan in Shanghai Tuesday, compared with 9.61 yuan at Monday's closing. The stock has nearly halved from the 18.59-yuan peak in April 2022 after the persistent downturn in the property market.Poly Development, China’s largest developer by sales this year, said late Monday that it plans to buy back 1 billion yuan to 2 billion yuan of its own shares in the next three months.

Poly Development Plans $279 Million Share Buyback to Shore up Price 