Hong Kong Hot Stock Analysis: Sunac China (01918.HK)

Sunac China (01918.HK) was listed as a hot stock on Tushare dc_hot (East Money App Hong Kong Stock Hot List) on December 2, 2025 [4]. The core event driving market attention is the company’s plan to repurchase the Qianhai Ice and Snow World project from Huafa—this project was an asset sold by Sunac during its previous debt crisis and is now profitable under Huafa’s management; the repurchase initiative may provide a positive signal for its asset portfolio optimization [0].

Recent stock price movements reflect market reactions: on November 28, the stock price rose 3.79% to HK$1.37 with a trading volume of 135 million shares [3]; on November 30, the stock price remained at HK$1.37 [2]; as of 10:23:55 AM (GMT+8) on December 2, 2025, the stock price was HK$1.33, up HK$0.01 (+0.76%) [1]. In terms of valuation, the company’s market capitalization is approximately HK$15.38 billion [1], with a negative price-to-earnings ratio (in loss status) and a price-to-book ratio ranging from 0.46 to 0.59 [0].

Market sentiment towards Sunac China is mixed. The news of repurchasing a profitable project brings potential for improved asset quality and sends a positive driving factor [0]; however, the overall property sector still faces significant headwinds, including peer Vanke’s debt issues and uncertainty in sales data, which weakens the positive effect of the repurchase news [0]. Analysts maintain a “Sell” consensus with a 12-month average target price of HK$1.22-HK$1.23, implying a potential downside of approximately 10% compared to recent prices [2].

1. The planned repurchase of a profitable project shows Sunac is focusing on regaining high-quality assets; if successfully implemented, it may enhance asset quality in the long term, but whether the company can raise funds for the repurchase amid industry challenges remains a key consideration [0].
2. Mixed sentiment reflects the博弈 between company-level positive actions and systemic industry risks; investors need to balance the potential benefits of the repurchase with overall uncertainty in the property market [0].
3. The negative P/E ratio and low P/B ratio indicate the company’s current valuation is below book value, which may be attractive to value investors, but the analysts’ “Sell” consensus highlights potential concerns [0,2].

• Successful repurchase of the Qianhai Ice and Snow World project may improve asset quality and investor confidence [0].
• The low P/B ratio may attract value investors if the company can demonstrate a path to profitability [0].

• Industry headwinds (peer debt issues, weak sales) may continue to suppress stock performance regardless of company-level initiatives [0].
• The analysts’ “Sell” consensus and target price imply bearish expectations for short-term stock performance [2].
• Uncertainty remains about whether the company can raise funds for the repurchase project against the backdrop of its historical debt crisis [0].

Sunac China (01918.HK) became a Hong Kong hot stock due to its plan to repurchase the profitable Qianhai Ice and Snow World project. Recent stock prices have fluctuated, with a slight rise in the morning of December 2. Valuation shows the company’s stock price is below book value but in loss status. Market sentiment is mixed, as the positive signal from the repurchase news is offset by industry headwinds and analysts’ bearish consensus.