Sunac China (01918.HK) Heat Analysis - December 4, 2025

1. Stock Overview
   : Sunac China (01918.HK) is a real estate development sector enterprise, with a current price of $1.33 and a market capitalization of $15.15 billion [0].
2. Heat Drivers
   : There were no company-specific positive announcements on December 4, 2025; the heat mainly came from:
   • Sector recovery: The Hang Seng Mainland Properties Index (YTD +13.5%) indicates improved sentiment in the real estate sector [4];
   • Sector event linkage: Hopson Lifestyle (2602.HK) announced a HK$500 million repurchase plan, with its stock price rising 1.7% that day, driving the overall momentum of the sector [4].
3. Price and Volume Performance
   : On December 4, the stock had a trading volume of 81.76 million shares and a gain of 0.75% [0]; recently, the price has fluctuated between $1.32 and $1.37, and on November 28, it had a heavy volume (135.49 million shares) and rose 3.01% [0].
4. Market Sentiment
   : At the sector level, sentiment is optimistic, but the company’s own long-term performance is weak, with negative net profits in recent years, reflecting ongoing financial challenges [0].

• Heat is driven by external sector factors, not the company’s own fundamental improvement;
• The low price-to-book ratio (P/B=0.40x) seems undervalued, but it needs to be interpreted cautiously in combination with negative earnings and liquidity risks;
• Short-term volatility has increased, with obvious signs of speculative activity.

1. Financial health risk: Negative price-to-earnings ratio (-0.52x), net profit margin (-39.42%), and low liquidity ratios (current ratio 0.88, quick ratio 0.23) indicate severe financial pressure [0];
2. Valuation risk: The low price-to-book ratio lacks actual support due to poor company operations;
3. Market volatility risk: Short-term price fluctuations are large, with strong speculation.

• The spillover effect of sector recovery may bring short-term trading opportunities, but close attention should be paid to signals of improvement in the company’s financial condition.

Sunac China (01918.HK) made it to the Hong Kong Stock Hot List on the East Money App on December 4, 2025, mainly driven by the sentiment from the real estate sector recovery and Hopson Lifestyle’s repurchase event. The stock closed up 0.75% that day, but its long-term performance has continued to decline, and financial indicators have deteriorated. Pay attention to the support level of $1.32 and resistance level of $1.39 [0].