智通财经APP讯，贝壳-W(02423)发布公告，该公司于2025年10月31日斥资800万美元回购141.37万股股 份，每股回购价格为5.6-5.7美元。 ...

格隆汇11月3日丨贝壳-W(02423.HK)发布公告，2025年10月31日耗资800万美元回购141.37万股。 ...

贝壳-W(02423)发布公告，该公司于2025年10月31日斥资800万美元回购141.37万股股份，每股回购价格 为5.6-5.7美元。 ...

FF305 第 1 頁 共 10 頁 v 1.3.0 | | | | FF305 | | --- | --- | --- | --- | | 1,146,105 | % | USD | 6.0976 | | 1,129,902 | % | USD | 6.1952 | | 1,132,359 | % | USD | 6.1818 | | 1,110,219 | % | USD | 6.304 | | 1,096,452 | % | USD | 6.3821 | | 1,050,570 | % | USD | 6.663 | | 1,055,388 | % | USD | 6.6274 | | 4). | 購回股份(或其他證券)但沒有註銷 | | 1,110,219 | % | USD | 6.304 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年9月5日 | | | | | | 5). | 購回股份(或其他證券)但沒有註銷 | | 1,096,452 | % | USD | 6.3821 | | | 變動日期 | 2025年9月8日 ...

砥砺深耕，进无止境 贝壳-W(02423) 投资评级:买入(维持) | 基本数据 | 2025-10-31 | | --- | --- | | 收盘价(元) | 44.04 | | 流通股本(亿股) | 34.03 | | 每股净资产(元) | 19.01 | | 总股本(亿股) | 35.44 | 最近 12 月市场表现 -26% -14% -3% 9% 21% 33% 贝壳-W 恒生指数 分析师 房诚琦 SAC 证书编号：S0160525090002 fangcq@ctsec.com 分析师 陈思宇 SAC 证书编号：S0160525090008 chensy04@ctsec.com 分析师 何裕佳 SAC 证书编号：S0160525090001 heyj@ctsec.com 分析师 郝艳辉 SAC 证书编号：S0160525080001 haoyh@ctsec.com 相关报告 1. 《房产交易和服务平台龙头，深化一体三 翼战略》 2025-09-10 证券研究报告 房地产服务 / 公司深度研究报告 / 2025.11.02 核心观点 | 盈利预测 | | --- | | [币种Table_Finchi ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors, highlighting optimism for the "Good House" policy and the revaluation of shopping center values [3][24][28]. Core Insights - The "14th Five-Year Plan" emphasizes promoting high-quality development in real estate, aiming to establish a new development model and improve the basic systems for property development, financing, and sales [3][24]. - Recent data shows a 9.8% week-on-week increase in new home transactions across 34 key cities, with a total of 2.835 million square meters sold [3][4]. - The report identifies a significant decline in year-on-year sales, with October's total transactions down 26.8% compared to the same month last year [6][7]. - The report notes that the average monthly inventory turnover for residential properties in 15 cities is 23.8 months, indicating a slight decrease [20][22]. Industry Data Summary New Home Transactions - New home sales in 34 cities reached 2.835 million square meters last week, a 9.8% increase from the previous week [3][4]. - Year-on-year, October's new home sales totaled 9.261 million square meters, reflecting a 26.8% decline compared to October of the previous year [6][7]. Second-Hand Home Transactions - Second-hand home sales in 13 cities totaled 1.152 million square meters last week, a 1.1% decrease from the previous week [12]. - Cumulatively, second-hand home sales in October were down 22.2% year-on-year [12][13]. Inventory Levels - The total available residential inventory in 15 cities was 89.296 million square meters, with a week-on-week decrease of 0.5% [20][21]. - The sales-to-new inventory ratio was 1.59, indicating a healthy turnover rate [20]. Policy and News Tracking - The report highlights the issuance of the "Urban Commercial Quality Improvement Action Plan" by the Ministry of Commerce and other departments, which supports the issuance of REITs for commercial real estate [24][25]. - The People's Bank of China announced a credit relief policy aimed at assisting the housing market [27]. - Local governments are implementing various housing subsidies, such as a maximum of 15,000 yuan in Yunnan and a combination of housing and consumption vouchers in Hangzhou [27][28]. Company Performance Overview - Several real estate companies reported their Q3 2025 results, with notable declines in net profits for many firms, such as New Town Holdings (9.7 billion yuan, -33.1%) and China Overseas Development (25 billion yuan, -4.0%) [28][30]. - The report mentions the successful listing of a commercial REIT by China Overseas Development, with underlying assets from a shopping center in Foshan [28][30].

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [4][27]. Core Views - The "15th Five-Year Plan" emphasizes promoting high-quality development in real estate, aiming to establish a new development model and integrate real estate into the social security system [4][27]. - The report highlights a rebound in new home sales, with a week-on-week increase of 9.9% in 34 key cities, while second-hand home sales saw a slight decline [4][5]. - The report identifies potential investment opportunities in the "Good House" policy and the revaluation of commercial real estate [4][27]. Industry Data Summary New Home Sales - New home sales in 34 key cities totaled 2.835 million square meters, up 9.9% week-on-week, with first and second-tier cities increasing by 12.5% [4][5]. - Year-on-year, new home sales in October decreased by 26.8%, with first and second-tier cities down 25.4% and third and fourth-tier cities down 41.2% [4][7]. Second-Hand Home Sales - Second-hand home sales in 13 key cities totaled 1.152 million square meters, down 1.1% week-on-week, and down 22.2% year-on-year for October [4][13]. Inventory and Supply - In 15 key cities, 770,000 square meters were launched for sale, with a sales-to-launch ratio of 1.59, indicating a healthy demand [4][22]. - The total available residential area in these cities was 89.296 million square meters, down 0.5% week-on-week [4][22]. Policy and News Tracking - The report notes that the Ministry of Commerce and other departments support the issuance of REITs for commercial real estate, providing long-term financing support [4][27]. - Various local governments have introduced measures to stimulate housing demand, including purchase subsidies and adjustments to rental withdrawal ratios [4][30]. Company Performance - Several real estate companies reported weaker performance in Q3 2025, with notable declines in net profits for companies like New Town Holdings and China Overseas Development [4][33]. - The report highlights the successful listing of China Overseas Development's commercial REIT, which raised 1.58 billion yuan [4][33].

贝壳-W(02423)发布公告，于2025年10月30日，该公司斥资699.69万美元回购121.28万股股份，每股回购 价格为5.69-5.83美元。 ...

智通财经APP讯，贝壳-W(02423)发布公告，于2025年10月30日，该公司斥资699.69万美元回购121.28万 股股份，每股回购价格为5.69-5.83美元。 ...

格隆汇10月31日丨贝壳-W(02423.HK)发布公告，2025年10月31日耗资700万美元回购121万A股。 ...