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： 2026年1月13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 | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | ...

Core Viewpoint - Beike has issued an internal notice emphasizing self-regulatory behavior across its platform, reiterating a neutral market perspective and strict adherence to company values [1] Group 1: Internal Regulations - The notice outlines "Three Musts" focusing on service standards, which include providing honest and professional services to stabilize the market, ensuring the authenticity of property information and fulfilling commitments, and offering comprehensive and objective information to assist users in making rational decisions [1] - The "Six Prohibitions" include banning subjective speculation that undermines the market, distorting interpretations of national policies, and disseminating false information [1] Group 2: Enforcement and Compliance - The company has stated that violations will be strictly punished internally, with reports of employees and agents in locations such as Hangzhou and Changsha already facing severe penalties for non-compliance [1]

Core Viewpoint - Beike has issued an internal notice emphasizing self-regulatory behavior across its platform, reiterating a neutral market perspective and strict adherence to company values [1] Group 1: Internal Regulations - The notice outlines "Three Musts" focusing on service standards, which include providing honest and professional services to stabilize the market, ensuring the authenticity of property information and fulfilling commitments, and offering comprehensive and objective information to assist users in making rational decisions [1] - The "Six Prohibitions" include banning subjective speculation that undermines the market, distorting interpretations of national policies, and disseminating false information [1] Group 2: Enforcement and Compliance - The company has stated that violations will be strictly punished internally, with reports of employees and agents in locations such as Hangzhou and Changsha already facing severe penalties for non-compliance [1]

Core Viewpoint - The Hong Kong stock exchange is witnessing a surge in listings from key players in the smart automotive and high-end manufacturing sectors, driven by the need for internationalization and capital raising to compete in a highly competitive environment [1][2]. Group 1: Industry Trends - The industry is shifting from providing standalone smart cockpit or smart driving modules to offering a deeply integrated "central brain," which reduces procurement and development costs for automakers but increases demands on suppliers' cross-domain technology integration capabilities [2]. - The smart automotive sector is characterized by high technical barriers, significant R&D investments, and high growth expectations, necessitating continuous capital input [2][3]. Group 2: Company Strategies - Desay SV's decision to pursue a Hong Kong listing is driven by the urgency to secure funding for technological advancements and to enhance its international presence, with the goal of establishing a global brand [1][2]. - The company emphasizes its competitive edge in the "cockpit and driving integration" sector, highlighting its cost optimization and performance capabilities compared to non-integrated solutions [1]. Group 3: Competitive Landscape - The automotive industry is experiencing intense competition, with various players, including startups and tech giants, entering the market with diverse business models and technologies [3]. - Companies are preparing for a "comprehensive consumption war," where the funds raised from the Hong Kong listing will be crucial for navigating the complexities of competition and ensuring agility in response to cross-industry challenges [3].

Investment Rating - The report maintains an "Outperform" rating for the real estate industry [8] Core Insights - The real estate market is showing signs of stabilization, with policies expected to support recovery in 2026. The emphasis is on the financial attributes of real estate and its macroeconomic significance [17][19] - In December 2025, the top 100 real estate companies reported a sales decline of 23.8% year-on-year, with an annual decline of 15.9% for the entire year [16][17] - The report suggests focusing on three areas for investment opportunities: commercial real estate, second-hand brokerage, and property services, along with developers with strong product capabilities [19] Summary by Sections Sales Performance - In December 2025, the sales figures for the top 100 real estate companies showed a year-on-year decline of 23.8%, with cumulative sales for the year down 15.9% [16][17] - The top 10 companies had a sales decline of 13.1%, while the next tiers saw declines of 27.9% and 23.8% respectively [16] Market Trends - The report indicates that the new housing market is stabilizing, while the second-hand market is expected to see an increase in volume with stable prices [2] - The report highlights a significant drop in new and second-hand housing transaction areas, with declines of 21.18% and 21.75% year-on-year respectively [6] Policy Outlook - The report anticipates stronger policy support for the real estate market in 2026, aiming to boost market confidence and stabilize expectations [17][19] - The emphasis on "good housing" standards is expected to guide the industry towards quality improvement rather than mere expansion [4][18] Stock Market and Credit Bonds - The A-share real estate sector outperformed the market with a weekly increase of 5.07%, while the Hong Kong real estate sector rose by 3.04% [21][33] - The issuance of real estate credit bonds reached 6.38 billion yuan, with a net financing amount of 0.457 billion yuan [21][40] REITs Market - The REITs index increased by 1.74%, with the property REITs index rising by 2.27% [42][55] - The total transaction volume for REITs was 1.615 billion yuan, showing a significant increase compared to previous weeks [55]

贝壳-W(02423)发布公告，于2026年1月9日斥资350万美元回购61.62万股。 ...

智通财经APP讯，贝壳-W(02423)发布公告，于2026年1月9日斥资350万美元回购61.62万股。 ...

格隆汇1月12日丨贝壳-W(02423.HK)发布公告，2026年1月9日耗资350万美元回购61.62万股。 ...

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： 2026年1月12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（ ...

Market Performance - US stock markets closed higher, with the Dow Jones and S&P 500 reaching record closing highs, while major tech stocks saw broad gains [1][3] - The three major US indices all rose, with the Dow Jones increasing by 0.48% to 49,504.07 points, the S&P 500 up 0.65% to 6,966.28 points, and the Nasdaq Composite rising 0.81% to 23,671.35 points [3] - Weekly performance showed all three indices increased, with the Nasdaq up 1.88%, the Dow up 2.32%, and the S&P 500 up 1.57% [4] Sector Performance - Major tech stocks mostly rose, with the US Tech Seven Index increasing by 0.48% [5] - Notable individual stock performances included Tesla rising over 2%, Meta increasing by more than 1%, and slight gains for Google, Amazon, Microsoft, and Apple [6] Chip Sector Insights - The chip sector experienced significant gains, driven by increased demand for AI computing data centers, leading to rising prices for memory chips and components [11] - Intel rose over 10%, SanDisk increased nearly 13%, and other companies like Lam Research, Applied Materials, and ASML saw gains exceeding 6% [11] - SanDisk's stock price was reported at $377.41, with a year-to-date increase of 58.99%, while Intel's stock was at $45.53, up 23.37% year-to-date [12] Chinese Stocks Performance - Chinese stocks showed mixed results, with the Nasdaq Golden Dragon China Index declining by 1.3% [12] - Major Chinese stocks such as Alibaba and Xpeng Motors fell over 2%, while Netease and Beike dropped more than 1% [12][13] Economic Indicators - The US non-farm payroll report for December showed an increase of 50,000 jobs, below expectations, with an unemployment rate of 4.4% [15] - The labor market appears balanced rather than weak, indicating a stable economic condition that may not necessitate significant changes in monetary policy [16] - Traders expect almost zero probability of a Federal Reserve rate cut in January, with the likelihood of maintaining current rates rising to 95% [17]