12月12日下午消息，在贝好家2025年度开放日活动上，贝壳副董事长、贝好家事业线首席执行官徐万刚 发表《以C2M构建房地产开发新模式》主题演讲。谈及贝壳为何进入开发领域，徐万刚表示，从成立 开始，贝好家未曾想过要做开发商，而是想充分发挥数据优势，以C2M（Customerto Manufacturer，从 消费者到制造者）模式推动房屋供给侧的改变。 12月12日下午消息，在贝好家2025年度开放日活动上，贝壳副董事长、贝好家事业线首席执行官徐万刚 发表《以C2M构建房地产开发新模式》主题演讲。谈及贝壳为何进入开发领域，徐万刚表示，从成立 开始，贝好家未曾想过要做开发商，而是想充分发挥数据优势，以C2M（Customerto Manufacturer，从 消费者到制造者）模式推动房屋供给侧的改变。 徐万刚指出，房地产发展30多年来，"客户主权"第一次站在核心位置。他解释称，当下房地产市场的供 求关系已彻底改变，2021年开始，行业由卖方市场转为买方市场，客户购房更加谨慎，成交周期变长。 当市场下行时，获客变难，房企销售费率也在增长。 不过，徐万刚强调，匹配客户需求的好房子仍然热销，好房子、好服务仍大有可为。贝 ...

Core Insights - Chengdu's real estate market shows strong performance with the Beichen S1 project achieving significant sales in a short period, indicating robust demand in the high-end residential segment [1] Group 1: Sales Performance - Beichen S1 has recorded 20 units sold within less than a month of its launch, ranking second in total sales volume for the year 2025 in Chengdu for properties priced above 20 million [1] - The project is part of Beike's Beihome platform, which marks its first independently operated project [1] Group 2: Market Expansion - Beihome has successfully launched a total of 17 projects across major cities including Beijing, Shanghai, Guangzhou, Chengdu, Xi'an, Hangzhou, Nanjing, Changsha, Foshan, and Wuhan as of November 2025 [1] - The projects encompass various cooperation models, showcasing the platform's adaptability and strategic market positioning [1]

贝壳找房惠州站把"防跌倒"知识送进社区。 贝壳找房惠州站将门店变成 "数字学习点"，经纪人当起老人"小老师"。 受访者供图 门店提供多种便民服务。 在惠州的许多社区，人们常常能看到穿着蓝色马甲的经纪人志愿者：有人蹲在长者身旁，耐心讲解手机 生活应用；有人在小区活动室里示范科学防跌倒动作；有人手持扫帚在街角清理落叶；有人在居民求助 时递来一杯热水、一支笔，或一句暖心的"我来帮你"。 把"防跌倒"知识送进社区，为长者筑起安全防线 跌倒，是老年人最常见、也最容易被忽视的安全风险。70%的老年人至少经历过一次跌倒，严重者甚至 影响长期生活质量。为此，2023年贝壳公益推出"我来教您防跌倒"项目，并逐步在全国推广。贝壳找房 惠州站志愿者将课程带入社区，通过简明易学的讲解与示范，为长者提供最实用的居家安全指导。 课堂上，志愿者用水瓶、垫子模拟家庭场景，提醒老人注意地滑、台阶落差、地毯翘角、电线裸露等潜 在风险；他们示范安全起身、正确走路方式，带老人进行平衡训练；还会提醒长者如何选择鞋子、如何 提升日常活动量，帮助老人掌握更安全的生活习惯。不少老人感慨："上了课才发现，原来家里有这么 多容易忽视的安全隐患。" 截至2025 ...

Core Viewpoint - Peng Yongdong, the chairman of Beike, has donated 9 million shares valued at approximately 440 million yuan, demonstrating a strong commitment to philanthropy and confidence in the future of the housing service industry [2][4][6]. Group 1: Donation Details - The donation consists of 9 million Class A ordinary shares, valued at around 440 million yuan, as disclosed in a recent SEC filing [2]. - This act has elevated Peng Yongdong to the third position on the 2025 Hurun Charity List, making him one of the 14 "billion-level philanthropists" [6]. Group 2: Industry Confidence - The decision to donate rather than liquidate shares indicates a strong belief in the stable growth of Beike, which has managed to achieve a 2.1% year-on-year increase in net revenue to 23.1 billion yuan during an industry adjustment period [6][8]. - Major international banks, including Goldman Sachs and Morgan Stanley, have maintained "buy" or "overweight" ratings on Beike, reflecting market optimism [8]. Group 3: Focus of the Donation - The donation is strategically allocated, with 50% directed towards healthcare benefits for housing service workers and their families, and 50% aimed at supporting recent graduates with housing assistance [9][11]. - This focus on these two groups is seen as essential for the long-term health and development of the housing service industry, particularly in retaining young talent in urban areas [11][13]. Group 4: Industry Transformation - The housing service industry is transitioning from a focus on transaction volume to an emphasis on service quality and ecosystem sustainability, highlighting the importance of a holistic customer experience [14][16]. - The donation sets a benchmark for ecological responsibility within the industry, encouraging other companies to contribute to the sector's development and societal welfare [16][18].

Core Viewpoint - The stock sale by the CEO of Beike, which was fully donated to charity, signals a strong commitment to the housing service ecosystem and reflects a long-term value perspective in the industry [1][4]. Group 1: Donation Purpose and Impact - The donation is strategically directed towards two key groups: service providers in the housing sector and recent graduates entering the job market [2]. - The funds will support a healthcare safety net for service providers and provide rental subsidies for economically disadvantaged graduates, thereby fostering a healthier housing consumption market [3]. Group 2: Business Resilience and Market Confidence - Beike's Q3 2025 financial report shows a year-on-year revenue increase, with emerging businesses like home decoration and rental services achieving profitability before headquarters costs [4]. - The market has responded positively, with major investment banks maintaining "buy" ratings and significant inflows from southbound funds, indicating strong confidence in Beike's transformation and long-term value [4]. Group 3: Corporate Social Responsibility and Brand Value - The donation is part of Beike's broader "business for good" strategy, which integrates social responsibility into its operations [5][6]. - The CEO's ranking on the 2025 Hurun Charity List reflects the recognition of Beike's systematic approach to fulfilling social responsibilities, enhancing the company's brand values [6].

Core Viewpoint - The home decoration industry is experiencing a shift from traditional price wars to capital-driven acquisitions, fundamentally altering the competitive landscape. Companies like Beike, JD.com, and Yingfeng are leveraging their capital to acquire established players, posing a greater threat to traditional businesses than mere price competition [1][22][50]. Group 1: Beike's Strategy - In 2021, Beike acquired Saintu for 8 billion yuan, marking the largest merger in the home decoration industry that year, which was initially seen as a business expansion but revealed Beike's deeper ambitions [2][29]. - Saintu, founded in 2002, had revenues exceeding 4 billion yuan in 2020 and provided Beike with a mature supply chain and delivery capabilities, which were essential for Beike's growth [4][31]. - By mid-2025, Beike's home decoration business transformed from a marginal player to a significant profit generator, with total revenue from 2022 to 2024 reaching 30.747 billion yuan, and a net income of 10.9 billion yuan in 2023 [6][34]. Group 2: JD.com's Expansion - JD.com has been strategically entering the home decoration market since 2011, launching its home decoration channel and expanding its offline presence to over 300 stores by 2025 [11][38]. - In June 2025, JD.com acquired a stake in Sichuan Living Home, enhancing its offline delivery capabilities and integrating its online and offline services [13][41]. - JD.com has launched its self-operated home decoration brand stores and plans to create a comprehensive experience space that combines home decoration, home goods, and home appliances [15][43]. Group 3: Yingfeng's Moves - Yingfeng Group, under the leadership of He Jianfeng, has been quietly building a "big home" industry platform by acquiring leading home furnishing companies, including a 29.42% stake in Gujia Home for 8.88 billion yuan [16][44]. - Yingfeng's strategy includes integrating Gujia and Sophia to create a comprehensive ecosystem that combines soft furnishings and customized furniture with home appliances [21][49]. - Despite Sophia's declining revenue, Yingfeng sees potential in its brand value and the customized home furnishing sector, supported by Midea's supply chain and digital capabilities [22][49]. Group 4: Impact of Capital Acquisitions - Capital acquisitions are seen as more destructive than price wars because they fundamentally change the competitive dynamics of the industry, allowing companies to bypass traditional customer acquisition challenges [22][50]. - The shift from price competition to capital-driven acquisitions is leading to a concentration of resources among a few major players, diminishing the survival space for smaller companies [25][53]. - The entry of cross-industry players like Beike, JD.com, and Yingfeng signifies a transition from product and price competition to a deeper contest of capital and ecosystem integration [25][53].

根据贝壳当前股价计算，彭永东捐赠股票价值约4亿多，这与其2024年年报中披露的"年薪"大致相当， 相当于捐掉了"全部年薪"。彭永东此举显然代表了贝壳高管坚定看好行业、共克时艰的作为，在用真金 白银回馈居住行业的生态发展、践行社会责任。 虽然年报中披露"4亿年薪"，但贝壳曾对此做出过官方说明，彭永东2024年薪酬中97%是为当时港股上 市时满足港交所对"上市公司超级投票权持有人规则"要求下限制性股票的摊销，并非其实际年薪。 2022年5月贝壳香港上市时，根据联交所的上市规则，具有同股不同权(WVR)架构的公司，WVR持有人 (即超级投票权持有人)的股份所对应的经济利益占比不得低于10%。贝壳具有此架构，且上市前超级投 票权持有人之一贝壳董事会主席、首席执行官及控股股东彭永东持有的权益相对较低。因此为了满足该 上市规则的要求，在联交所批准的前提下，贝壳向彭永东授予限制性股票。该限制性股票，在会计规则 上采用"直线摊销法"，因此在每年的"股权薪酬"科目产生了较大数额，但并非一般理解的年薪。 简言之是基于合规要求，彭永东被授予股票。而在股票的处置上，除此次因为捐赠出售股票之外，彭永 东没有减持贝壳股票。 12月9日， ...

格隆汇12月11日丨贝壳-W(02423.HK)发布公告，2025年12月10日耗资300万美元回购52.9万股。 ...

贝壳-W(02423)公布，2025年12月10日耗资约300万美元回购约52.88万股股份。 ...

港股贝壳今日收涨3%并且录得2连升，带动贝壳(BEKE.US)美股盘前涨超3%。消息上，12月9日，美股 最新披露文件显示，贝壳联合创始人、董事长、首席执行官彭永东出售股票，此举用于兑现此前捐赠承 诺。这是彭永东继2020年贝壳美股上市以来，首次卖股以兑现捐赠承诺。对于一家正处于行业转型与市 场审视中的公司而言，其创始人"上市五年，首售即捐"的举动，早已超越单纯慈善，更像是一次关于战 略信心与长期主义的强力宣言。 本文源自：格隆汇 ...