Core Viewpoint - The launch of the "True Guarantee" service system by Beike aims to enhance consumer confidence in housing transactions and promote high-quality development in the real estate industry [1][3] Group 1: Service System Overview - The "True Guarantee" system includes 35 service commitments, consisting of 6 platform-level commitments and 29 brand-level commitments [3] - Key commitments include "real housing sources, compensation for false information," "no reason to refund commission if the transaction fails," and "advance payment for property debts" [3] - The system is designed to provide comprehensive service guarantees throughout the transaction process, ensuring peace of mind for both buyers and sellers [1][3] Group 2: Implementation Mechanism - Beike employs a mechanism of "1 standard + 2 capabilities + 100 million yuan guarantee fund" to ensure effective execution of commitments [3] - The standardization of service processes is supported by technology such as big data and AI models to identify risks [3] - A guarantee fund of 100 million yuan is established to provide quick compensation to consumers in case of losses during compliant transactions [3] Group 3: Industry Context and Trends - The real estate market is transitioning to a "stock era," with an increasing proportion of second-hand housing transactions, leading to heightened consumer expectations for safety and service quality [2][3] - The "True Guarantee" system is a response to the evolving needs of consumers, emphasizing the importance of quality service in driving healthy industry development [2][3] Group 4: Case Studies and Effectiveness - Real-life examples demonstrate the effectiveness of the "True Guarantee," such as quick commission refunds and prompt repairs for property issues [4] - As of July 2025, the platform has achieved a 97.2% fund custody rate and has blocked 16,000 potential transaction risks, with an actual loss occurrence rate of only 0.006% [4] Group 5: Long-term Strategy and Vision - Beike's commitment to long-termism and continuous empowerment of service providers is aimed at creating a positive cycle where consumers feel secure and service providers can focus on quality service [5][6] - The "True Guarantee" is seen as a key component in establishing Beike's core competitiveness and enhancing its brand image as a trustworthy platform [6]

Core Viewpoint - Beike has officially launched the "True Guarantee" full-process service guarantee system, which aims to enhance consumer rights protection and reflects the company's commitment to consumer welfare [1] Group 1: Service Commitment - The "True Guarantee" system covers a total of 35 service commitments, including 6 platform-level commitments and 29 brand-level commitments [1] - Since 2001, Beike has cumulatively refunded and compensated consumers a total of 5.56 billion yuan by August 2025 [1] Group 2: Operational Strategy - Beike's Chief Operating Officer, Li Fengyan, emphasized the company's dedication to providing reliable and reassuring services, aiming to push the industry towards a more standardized and secure high-quality development phase [1] - The system is supported by "1 standard + 2 capabilities + 100 million yuan guarantee fund" to ensure effective service delivery [1]

Core Viewpoint - Beike has officially launched the "True Guarantee" full-process service guarantee system, aiming to enhance customer trust and service quality in the real estate market [1] Group 1: Service Commitments - Beike has introduced a total of 35 service commitments under the "True Guarantee" system, which includes 6 platform-level commitments and 29 brand-level commitments [1] - The 6 platform-level commitments consist of "Real Listings, False Claims Compensated by 100 Yuan," "No Reason Refund of Commission if Transaction Fails," and "Advance Payment for Property Arrears and Losses," with three additional commitments being piloted in select cities [1] - The commitments being piloted include "Safety of Funds Guaranteed by the Platform," "Disclosure of Water Leakage and Compensation for Losses," and "No Telemarketing, Compensation of 100 Yuan for Disturbance" [1] Group 2: Risk Management - As part of the "Safety of Funds Guaranteed by the Platform" commitment, 10 cities have officially launched this assurance, with Beike successfully intercepting 16,000 risky transactions in the past year [1] - The platform has managed to keep the probability of financial loss from transactions below 0.006% [1]

Group 1 - The article reports on share buybacks conducted by various companies on September 19, 2025, with Tencent Holdings (00700) having the largest buyback amount of 551 million yuan for 857,000 shares [1][2] - Other notable companies involved in buybacks include Shankou Holdings (00412) with 3.7 million shares repurchased for 22.62 million yuan, and Tianli International Holdings (01773) with 3.41 million shares for 10.62 million yuan [2] - The total number of shares repurchased by Tencent Holdings in the year reached 59.863 million, accounting for 0.651% of its total share capital [2] Group 2 - Haier Smart Home (06690) repurchased 300,000 shares for 8.08 million yuan, representing 0.011% of its total share capital [2] - Other companies like Coolpad Group (02369) and Weigao Group (01066) also participated, with Coolpad repurchasing 1.092 million shares for 1.42 million yuan, and Weigao repurchasing 440,000 shares for 2.56 million yuan, accounting for 3.365% of its total share capital [2] - The buyback activities reflect a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their future performance [1][2]

贝壳-W(02423)发布公告，于2025年9月19日斥资449.92万美元回购股份67.7万股，每股回购价格为6.59- 6.67美元。 ...

智通财经APP讯，贝壳-W(02423)发布公告，于2025年9月19日斥资449.92万美元回购股份67.7万股，每 股回购价格为6.59-6.67美元。 ...

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： 2025年9月22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（ ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [4][31]. Core Views - The report indicates that the broad housing demand in China has reached a bottom, but the volume and price have not yet entered a positive cycle. It predicts that the real estate market will continue to stabilize, with policies aimed at stopping the decline expected to be introduced [4][31]. - The report highlights that the real estate market in core cities is at a turning point and will lead the recovery. It emphasizes the potential of new policies to create new products, pricing, and models that will improve the real estate market in core cities [4][31]. Industry Data Summary New Housing Transaction Volume - For the week of September 13-19, 2025, new housing transactions in 34 key cities totaled 2.083 million square meters, a week-on-week increase of 5.4%. The transaction volume for first and second-tier cities increased by 5.2%, while third and fourth-tier cities saw an increase of 8.1% [5][6]. - In September 2025, the cumulative transaction volume for new housing in 34 cities was 5.605 million square meters, a year-on-year increase of 17.6% [6][8]. Second-Hand Housing Transaction Volume - For the week of September 13-19, 2025, second-hand housing transactions in 13 key cities totaled 1.096 million square meters, a week-on-week decrease of 6.1%. However, the cumulative transaction volume for September showed a year-on-year increase of 31.3% [12][31]. New Housing Inventory - In the week of September 13-19, 2025, 15 key cities had a total of 1.07 million square meters of new housing launched, with a total available residential area of 89.666 million square meters, reflecting a week-on-week increase of 0.3% [21][31]. Policy and News Tracking Real Estate Industry - The State Council has officially implemented the "Housing Rental Regulations," encouraging multiple channels to increase rental housing supply. The National Bureau of Statistics reported that from January to August 2025, real estate investment totaled 603.09 billion yuan, down 12.9% year-on-year [31][32]. - Shanghai has optimized its property tax pilot policy, temporarily exempting eligible residents from property tax for their first home and second homes under certain conditions [31][32]. Property Management Industry - The "Housing Rental Regulations" emphasize the role of property management in coordinating supervision and promoting the transition of the property industry from traditional management to "rental + service" [35][36].

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格隆汇9月19日丨贝壳-W(02423.HK)发布公告，2025年9月18日耗资450万美元回购67.57万股。 ...