Core Viewpoint - Beike-W (02423.HK) announced a share repurchase plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1 - The company plans to repurchase 297,100 shares at a total cost of 2 million USD [1] - The repurchase price per share ranges from 6.65 to 6.88 USD [1] - The repurchase is scheduled for September 29, 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： 2025年9月30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（ ...

Group 1 - The core idea of the news is that real estate companies and platforms are actively collaborating to boost market activity ahead of the National Day and Mid-Autumn Festival holidays, with Beike Shenzhen offering over 500 new discounted properties for buyers [1] - Beike Shenzhen is hosting the "Vibrant Shenzhen, Livable Future" 2025 New House Festival, providing direct discounts from developers and exclusive benefits through the Beike platform, including cash vouchers ranging from 500 to 3000 yuan [1] - The "Beike Sunshine Operation Service Commitment" has been signed with partner developers, ensuring transparent and ethical sales practices, which aims to enhance the purchasing experience for buyers [1] Group 2 - The new policy "905 New Policy" has led to a significant increase in new home transactions, with a 35% rise in new home subscriptions in the 23 days following the policy implementation compared to the previous 23 days, and a 75% increase compared to the same period in August [1] - Beike Shenzhen's research institute attributes the growth in transaction volume to the dual attraction of policy benefits and quality housing [1] - Beike has also launched the "Warm New Station & Anchor Home" initiative in Shenzhen, providing services for new employment groups, including daily care and community volunteer activities [2]

Core Insights - The recent investment activities in the home furnishing industry, particularly the stake acquisition by Yingfeng Group in Sophia, have garnered significant attention, highlighting the increasing capital interest in this sector [1][2]. Group 1: Capital Influx - Yingfeng Group has become the fifth largest shareholder of Sophia, holding 18.76 million shares, which accounts for 2.88% of Sophia's circulating shares and 1.95% of the total share capital [1]. - Other major players like JD.com and Jianfa Group are also actively investing in the home furnishing sector, with JD.com completing the acquisition of Life Home Decoration Group, enhancing its market presence [2][7]. - The influx of capital from various sources is expected to provide financial, technological, and resource support to the home furnishing industry, facilitating digital transformation and industry integration [1][2][3]. Group 2: Market Demand Potential - The home furnishing market in China is projected to reach a total scale of 5 trillion yuan by 2025 and 7 trillion yuan by 2030, driven by rising consumer demand for quality and personalized products [4]. - Consumers are increasingly seeking personalized, intelligent, and environmentally friendly home products, leading to a growing market for customized home furnishings [4][5]. - The smart home appliance market is also on the rise, with an expected scale of approximately 793.8 billion yuan by 2025, indicating a shift towards intelligent home solutions [4]. Group 3: Industry Transformation - The home furnishing industry is undergoing a critical transformation, with traditional companies facing challenges such as low production efficiency and product homogeneity [5]. - Capital investment is crucial for enhancing production capabilities, introducing advanced technologies, and fostering product innovation, thereby transitioning from traditional manufacturing to smart manufacturing [5][6]. - The integration of capital is enabling companies to optimize their sales channels and adopt a hybrid online-offline sales model, enhancing market competitiveness [6][7]. Group 4: Accelerated Upgrades - The influx of capital is reshaping the competitive landscape of the home furnishing industry, driving advancements in technology research, smart manufacturing, and channel expansion [6][7]. - Smaller home furnishing companies are benefiting from increased funding, allowing them to invest in research and development, thereby improving product quality and innovation [6]. - The focus on smart solutions and AI-driven personalized design is becoming a key competitive factor, with companies aiming to enhance customer engagement through innovative offerings [7].

Core Viewpoint - Beike-W (02423) announced a share repurchase plan, indicating confidence in its stock value and potential for future growth [1] Company Summary - Beike-W plans to repurchase 694,000 shares at a total cost of $4.497 million, which reflects a strategic move to enhance shareholder value [1]

格隆汇9月29日丨贝壳-W(02423.HK)发布公告，2025年9月26日耗资449.71万美元回购69.39万股。 ...

贝壳-W(02423)发布公告，于2025年9月26日斥资449.7万美元回购69.4万股。 ...

智通财经APP讯，贝壳-W(02423)发布公告，于2025年9月26日斥资449.7万美元回购69.4万股。 ...

FF305 第 1 頁 共 8 頁 v 1.3.0 | 1). | 購回股份(或其他證券)但沒有註銷 | | 1,146,105 | % | USD | 6.0976 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年9月2日 | | | | | | 2). | 購回股份(或其他證券)但沒有註銷 | | 1,129,902 | % | USD | 6.1952 | | | 變動日期 | 2025年9月3日 | | | | | | 3). | 購回股份(或其他證券)但沒有註銷 | | 1,132,359 | % | USD | 6.1818 | | | 變動日期 | 2025年9月4日 | | | | | | 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 ...

来源：新浪港股 贝壳-W（02423）发布公告，于2025年9月25日，该公司斥资450万美元回购69.94万股。 ...