Group 1 - The company, Beike-W (02423), announced a share buyback plan to repurchase approximately 939,000 shares at a cost of about $5 million [1]

Group 1 - The company Beike-W (02423.HK) announced a share buyback plan, intending to repurchase 939,000 shares at a cost of $5 million [1]

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 貝殼控股有限公司 呈交日期： 2026年1月5日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 A | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02423 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不 ...

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [4][6] Core Views - The real estate market in 2025 is expected to remain sluggish, with new home transactions down by 15.8% year-on-year, while second-hand home transactions show a slight increase of 3.9% [11][22] - The report emphasizes that the policy environment is expected to become more stringent, similar to the conditions seen in 2008 and 2014, indicating that the current policy adjustments are still in progress [4] - The report suggests that the real estate sector serves as an early economic indicator, making it a valuable asset class for investment [4] - The competitive landscape in the industry is improving, with leading state-owned enterprises and select mixed-ownership and private companies expected to perform better in land acquisition and sales [4] - The report highlights a focus on first-tier and select second-tier cities for investment, as these areas are likely to see better performance during market rebounds [4] Summary by Sections New Home Transactions - In 2025, the cumulative new home transaction volume in 30 sample cities reached 98.217 million square meters, a decrease of 15.8% year-on-year [11] - First-tier cities accounted for 26.191 million square meters, down 12.0%, while second-tier cities saw a decline of 15.6% to 49.040 million square meters [11] - December 2025 saw a significant drop in new home transactions, with a total of 9.679 million square meters, reflecting a year-on-year decrease of 40.0% [2][11] Second-Hand Home Transactions - The total area of second-hand home transactions in 2025 was 103.989 million square meters, marking a year-on-year increase of 3.9% [22] - First-tier cities recorded a total of 43.287 million square meters in second-hand home transactions, up 4.4% year-on-year [22] Market Performance - The report notes that the real estate index decreased by 0.7% this week, lagging behind the CSI 300 index by 0.10 percentage points, ranking 19th among 31 sectors [34] - The report identifies a total of 28 stocks that increased in value this week, while 82 stocks experienced declines [34] Credit Bond Issuance - In the week of December 29 to January 4, only one credit bond was issued by real estate companies, totaling 250 million yuan, a decrease of 44.82 million yuan from the previous week [45]

Core Insights - The Tridacna shell serves as a natural recorder of climate changes, similar to tree rings, by accumulating thin layers of calcium carbonate that reflect daily environmental conditions [1] - Scientists utilize laser sampling to analyze the shell's composition, particularly the strontium to calcium ratio, which acts as a sensitive "ancient thermometer" to reconstruct historical sea temperature changes [1] - The shell's carbon isotope composition reveals atmospheric CO2 variations over time, capturing significant events like the Industrial Revolution and volcanic eruptions [1] Climate Change Impact - Tridacna not only records climate data but also suffers from climate change effects, as ocean acidification from CO2 absorption impacts its ability to build calcium carbonate shells [1] - Modern Tridacna shells exhibit reduced density and strength compared to their ancestors, indicating a trend similar to osteoporosis in marine life [1] Unique Climate Archive - Tridacna possesses unique advantages as a climate record, including high temporal resolution, longevity (some can live over a century), and widespread geographical distribution across tropical coral reefs [3] - Research teams from the Chinese Academy of Sciences are analyzing Tridacna specimens from the South China Sea to reconstruct climate change sequences over the past 300 years in the Western Pacific [3]

Group 1 - The company, Beike-W (02423), announced a share repurchase plan, committing to buy back 569,500 shares for a total expenditure of $3 million by December 31, 2025 [1]

Group 1 - The company, Beike-W (02423), announced a share repurchase plan, committing to buy back 569,500 shares for a total expenditure of $3 million by December 31, 2025 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 貝殼控股有限公司 呈交日期： 2026年1月2日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 A | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02423 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不 ...

Core Viewpoint - The 2026 Haidian New Year Run event aims to promote community engagement and the development of running sports in Haidian District through a themed competition that combines athleticism and family participation [1] Group 1: Event Overview - The event is themed "Wisdom Gathers in Haidian, Horses Lead the Way" and is organized by various local government bodies and institutions [1] - The event features relay and parent-child race categories, blending competitive spirit with family warmth [1] Group 2: Participation and Impact - Nearly 300 participants from companies like Xiaomi, Beike, ByteDance, and Tsinghua Ziguang, as well as various business schools, took part in the event [1] - The event serves as a new link for cross-school and cross-industry communication, promoting integration between sports, government, enterprises, and educational institutions [1]

Group 1 - The company, Beike-W (02423), announced the grant of a total of 1.2172 million restricted stock units to 66 employees under the 2020 share incentive plan, effective from January 1, 2026, pending acceptance by the grantees [1]