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12月4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 | ...

Core Insights - The report from Caitong Securities highlights Beike's "one body, three wings" strategy, showcasing significant platform integration potential and growth elasticity in new sectors such as home decoration and housing rental [1] - The home decoration industry in China has a large market size exceeding 3 trillion yuan in 2022, with a projected compound annual growth rate of 8.1% from 2025 to 2030, potentially reaching over 7 trillion yuan by 2030 [1] - Beike's rental business, particularly the "Shengxin Rent" service, has shown rapid growth, with over 590,000 managed housing units as of June 30, 2025, representing an 88% year-on-year increase [2] Home Decoration Industry - The home decoration market is characterized by low concentration and a fragmented enterprise landscape, providing Beike with an opportunity to leverage its scale advantages for industry consolidation [1] - The company's early entry into the home decoration sector, including partnerships and acquisitions, has led to a positive operational cycle in core high-energy cities [1] Rental Business - The core competitiveness of the "Shengxin Rent" business model lies in service quality and asset operation efficiency, with a focus on standardizing service processes and enhancing operational collaboration with housing transaction services [2] - The rental business has achieved significant revenue growth, with 10.7 billion yuan in revenue for the first half of 2025, an 85% year-on-year increase, and an improvement in profit margin from -1.0% in 2023 to 7.6% [2]

Group 1 - The company, Beike-W (02423.HK), announced a share buyback on December 2, 2025, spending $3 million to repurchase 542,600 shares at a price range of $5.49 to $5.56 per share [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12月3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 | ...

Group 1 - The core strategy of the company is centered around "one body and three wings," focusing on home decoration and rental housing, showcasing significant platform integration potential and growth elasticity [1] - The home decoration industry has a large market size and high growth rate, but low market concentration, providing the company with scale advantages to consolidate the industry [1] - The home decoration market in China is projected to exceed 3 trillion yuan by 2025, with a compound annual growth rate of 8.1% from 2025 to 2030, potentially reaching over 7 trillion yuan by 2030 [1] Group 2 - The company's rental business includes decentralized and centralized rental housing management services, with the largest segment being the "省心租" service [2] - Service quality and asset operation efficiency are the core competitive advantages of the "省心租" business model, with a focus on standardizing service actions and improving service capabilities [2] - As of June 30, 2025, the company managed over 590,000 rental units, representing an 88% year-on-year growth, with rental business revenue reaching 10.7 billion yuan, a year-on-year increase of 85% [2]

Core Insights - In November 2025, Shanghai saw a total of 29 new property projects launched, with a transaction area of approximately 33.5 million square meters, reflecting a month-on-month decrease of about 15.5% [1] - The Beike Group's independent residential project, Beilian C1, achieved notable sales performance, ranking third in both sales area and number of units sold [1] - Beilian C1 was launched on October 31, 2025, after acquiring land on December 31, 2024, and its sales results were recorded in November, marking it as a "dark horse" in Shanghai's real estate market for Q4 2025 [1] Market Data - The sales data is based on monitoring from CRIC and public market data, focusing solely on residential projects in Shanghai [3] - The statistical period for the sales data is from November 1 to November 30, 2025 [3] - The sales metrics include only residential properties, excluding commercial, office, serviced apartments, affordable housing, and other non-residential sales [3]

Group 1 - The company Beike-W (02423) announced a share repurchase plan, intending to buy back 537,500 shares at a total cost of $2.9883 million [1] - The repurchase price is set between $5.52 and $5.72 per share [1]

Core Viewpoint - Beike-W (02423) announced a share buyback of 537,500 shares for a total cost of $2.9883 million, with a buyback price range of $5.52 to $5.72 per share [1] Summary by Category - **Company Actions** - Beike-W plans to repurchase 537,500 shares at a total expenditure of $2.9883 million [1] - The buyback price is set between $5.52 and $5.72 per share [1]

Group 1 - The company Beike-W (02423.HK) announced a share buyback plan on December 2, 2025, involving an expenditure of $2.988 million to repurchase 537,000 shares [1] - The buyback price per share is set between $5.52 and $5.72 [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12月2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 | ...