Core Viewpoint - Beike's initiative to launch the "Three Musts and Six Prohibitions" self-discipline action aims to reinforce a neutral market perspective and promote professionalism and integrity in real estate services [1][3]. Group 1: Initiative Details - The "Three Musts" include: 1) providing honest and professional services to stabilize the real estate market; 2) ensuring the authenticity of property information and fulfilling service commitments; 3) offering comprehensive and objective information to assist users in making rational pricing decisions [3]. - The "Six Prohibitions" include: prohibiting subjective speculation that undermines the market, distorting national policy interpretations, publishing false information, manipulating or coercing price negotiations, engaging in fraudulent practices like jumping orders or kickbacks, and exaggerating service effectiveness to mislead clients [3]. Group 2: Industry Context - The initiative is a response to the rise of false listings, aggressive price cutting, and misleading promises by some media influencers, which harm consumer trust and the healthy development of the industry [3]. - As a leading company in the industry, Beike's self-regulatory measures set a benchmark for others, emphasizing the need for the real estate brokerage sector to shift from "traffic competition" to "service competition" [4].

Core Insights - Morgan Stanley's report on Chinese tech stocks presents an optimistic outlook for AI development by 2026, driven by both supply and demand factors [1] - The overseas expansion of internet companies is highlighted as a crucial strategy to address macroeconomic, competitive, regulatory, and geopolitical risks [1] Company Preferences - The report lists preferred stocks with an "overweight" rating, including Tencent, Alibaba, Pinduoduo, Tencent Music, NetEase, BOSS Zhipin, Manbang, Meituan, Trip.com, Tongcheng Travel, TAL Education, and Beike [1]

Core Viewpoint - Beike-W (02423) has launched a self-regulatory initiative called "Three Musts and Six Prohibitions" to reinforce a neutral market perspective, with over 80,000 agents and employees voluntarily signing a commitment letter to uphold this principle [1] Group 1 - The initiative officially started in January 2026 and aims to promote professionalism and integrity in real estate brokerage services [1] - The commitment letter activity encourages agents to publicly display their adherence to a neutral market perspective on social media [1] - This action is an upgrade from the public behavior norms released by Beike last year, following internal inspections and strict penalties in cities like Hangzhou [1]

Group 1: Internet Company Revenue and Profit - JD.com leads the revenue chart with 956.8 billion, followed by Alibaba at 731.9 billion and Tencent at 557.4 billion [1] - Alibaba's net profit stands at 76.5 billion, significantly higher than JD.com's 22.3 billion, while Tencent shows a strong profit of 166.6 billion [1] - The profit margin for Tencent is notably high at 30.63%, compared to Alibaba's 10.45% and JD.com's 2.33% [1] Group 2: Market Trends and Insights - The data indicates a competitive landscape among major internet companies, with varying revenue and profit margins suggesting different business strategies and operational efficiencies [1] - The significant profit margins of Tencent may indicate a focus on high-margin services, while JD.com and Alibaba are still scaling their operations [1] Group 3: Financial Performance Overview - The overall financial performance of the top internet companies reflects a diverse range of growth strategies, with some companies prioritizing revenue growth while others focus on profitability [1] - The financial results for the third quarter of 2025 highlight the ongoing evolution of the internet sector in China, with implications for future investment opportunities [1]

Group 1 - The company Beike-W (02423) announced a share buyback plan, committing to repurchase 603,500 shares at a total cost of $3.5 million [1] - The buyback price per share is set between $5.71 and $5.84 [1]

格隆汇1月19日丨贝壳-W(02423.HK)发布公告，2026年1月16日耗资350万美元回购60.35万股。 ...

FF305 第 2 頁 共 7 頁 v 1.3.0 通股)計算。 備註： 已發行股份佔有關股份發行前的現有已發行股份數目百分比是依據本公司已發行股份數目總額3,484,617,544股 (包括3,346,029,167股 A 類普通股及138,588,377 股 B 類普 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19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 | ...

贝壳-W(02423)发布公告，于2026年1月15日，该公司斥资约350万美元回购59.89万股股份，每股回购价 格为5.79-5.9美元。 ...

格隆汇1月16日丨贝壳-W(02423.HK)发布公告，2026年1月15日耗资350万美元回购59.9万股。 ...

智通财经APP讯，贝壳-W(02423)发布公告，于2026年1月15日，该公司斥资约350万美元回购59.89万股 股份，每股回购价格为5.79-5.9美元。 ...