10 November 2025 | 2:10PM CST Equity Research CHINA PROPERTY Trip Takeaways: A Diverging Mosaic We toured around Shenzhen and Guangzhou last week to pulse-check on local property and broader consumer markets by visiting several developers and frontline residential projects sites, high-end mall operators, financial institutions, property managers, property agents and property/consumption-related divisions of tech companies. In general, we observed contrasting trends between high-end segment and the broader m ...