Core Insights - Beike's subsidiary, Beihome, has launched a C2M full-chain solution aimed at transforming the real estate market by better aligning housing supply with market demand [1] - The real estate market is shifting from a seller's market to a buyer's market, with second-hand home transactions in key cities rising to approximately 73%, and in some cities exceeding 80% [1] - The C2M model leverages big data and AI to analyze customer needs and predict housing price trends before project development, providing solutions for product positioning, unit mix, and pricing strategies [1] Industry Trends - The real estate market is experiencing a significant transition, characterized by longer decision-making cycles for buyers and an increase in property viewings [1] - The supply of housing continues to grow, indicating a shift in the supply-demand relationship within the market [1] - Beihome has implemented 17 projects in major cities such as Beijing, Shanghai, and Guangzhou, collaborating with notable developers like China Overseas Land & Investment and China State Construction Engineering [2] Challenges - Experts highlight that the C2M model may face common challenges such as funding pressures, supply chain integration, and brand competition, which could be exacerbated in the real estate sector due to its high product value and complex supply chains [2]

Core Insights - The article highlights the launch of the high-end residential project "Financial City·Beichen S1" by Beike's subsidiary Beihome in Chengdu, which has set a record for land floor price in the city at 27,300 yuan/square meter [1] - The project has achieved significant sales, ranking second in total sales volume for properties priced over 20 million yuan in Chengdu within a month of opening [1] Group 1: Project Details - Beichen S1 was acquired for a total price of 1.076 billion yuan, marking a historic high for residential land in Chengdu [1] - The construction cost of Beichen S1 exceeds the land price, reaching over 30,000 yuan/square meter, which is uncommon in past residential projects [2] - The average selling price of the project is over 60,000 yuan/square meter, nearly at cost price [2] Group 2: Innovative Development Model - Beichen S1 introduces a C2M (Customer-to-Manufacturer) model, utilizing big data and AI to drive user demand research, transforming the traditional development workflow into a collaborative process involving developers, architects, and future residents [3] - The project incorporates top-tier suppliers and experts across various fields, focusing on customer-oriented design and innovation [3] Group 3: Smart Home Features - The project features a "Six Senses Smart System" integrated with Huawei's HarmonyOS, connecting over 310 smart devices across 19 categories, achieving four times the average level of high-end smart residences in China [4] - Notable innovations include high-end appliances and unique features like a foot bath in the elderly room and elevated washing machines for convenience [3][4] Group 4: Strategic Positioning - Beihome aims to position itself not as a new developer but as a partner providing comprehensive solutions for developers, owners, and construction parties, enhancing collaboration in the housing market [5] - The Beichen S1 project serves as a model for Beihome, emphasizing the importance of customer satisfaction and long-term partnerships for future growth [5]

Core Insights - The article discusses the launch of the high-end residential project "Financial City·Beicheng S1" by Beike's subsidiary Beihome, which has garnered significant industry attention due to its innovative design and technology [1] Group 1: Project Overview - Beicheng S1 features a pioneering architectural style, three-dimensional landscape design, and comprehensive smart home technology [1] - The project is based on a C2M (Customer-to-Manufacturer) model, introducing a series of innovations that differentiate it from traditional residential offerings [1] Group 2: Industry Response - Following the opening of the Beicheng S1 demonstration area, over 50 real estate developers, including major players like China Resources Land, China Merchants Shekou, Vanke, and others, visited for inspection [1]

Core Viewpoint - The launch of the high-end residential project "Financial City·Beichen S1" by Beike's subsidiary Beihome has garnered significant attention in the real estate industry due to its innovative C2M model and design features [1] Group 1: Project Overview - Beichen S1 is located in Chengdu's Financial City Phase III, just two kilometers from the city’s landmark "Twin Towers" [3] - The land was acquired by Beihome for a total price of 1.076 billion yuan, translating to a floor price of 27,300 yuan/m², setting a new record for residential land prices in Chengdu [3] - The project has attracted over 50 real estate developers and service providers for site visits, receiving high praise from executives across various departments [3] Group 2: Investment and Design Strategy - Beihome has invested heavily in the project, with construction costs exceeding 30,000 yuan/m², which is unusual for residential projects, resulting in an average price of over 60,000 yuan/m² [4] - The design of Beichen S1 incorporates feedback from high-net-worth clients, prioritizing scenic views over traditional orientation, with over 70% of clients valuing views more than the direction of the house [5] - The project features a unique layout with four buildings arranged like petals, allowing each unit to enjoy views of the 350-meter-tall Jiaozi Cloud Tower [5] Group 3: Strategic Positioning - Beihome aims to position Beichen S1 as a model for validating its C2M model rather than becoming a new developer, focusing on providing comprehensive solutions for developers and clients [7] - The CEO of Beike Group emphasized the importance of customer reputation and the commitment to quality in both construction and future property management for long-term development [7]

智通财经APP讯，贝壳-W(02423)发布公告，于2025年12月12日，该公司斥资300万美元回购51.95万 股。 ...

贝壳-W(02423)发布公告，于2025年12月12日，该公司斥资300万美元回购51.95万股。 ...

格隆汇12月15日丨贝壳-W(02423.HK)发布公告，2025年12月12日耗资300万美元回购51.95万股。 ...

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： 2025年12月15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 concept of "customer sovereignty" has taken center stage in the real estate development industry for the first time in over 30 years, as highlighted by Xu Wangang, Vice Chairman of Beike and CEO of Beihome, during the media appreciation event for the Beicheng S1 project [2] Group 1: Project Launch and Sales Performance - The Beicheng S1 project in Chengdu, launched in November, has 108 units available, with a cumulative online signing of 20 units by December 11 [2] - Beihome has established 17 projects across major cities including Beijing, Shanghai, Guangzhou, and Chengdu, with the Shanghai Beilian C1 project also having commenced sales [2] - The Beicheng S1 project ranks second in cumulative online signing volume for residential properties priced over 20 million yuan in Chengdu for the year 2025 [4] Group 2: Land Acquisition and Development - Beihome acquired a 24-acre plot in Chengdu's Financial City with a floor price of 27,300 yuan per square meter, marking a 42.19% premium and setting a record for land prices in Chengdu [3] - The Beicheng S1 project features main unit types of 275 square meters and 375 square meters, delivered with high-end finishes and smart home systems [3] Group 3: C2M Development Model - Beihome employs a C2M (Customer to Manufacturer) model, utilizing big data and AI algorithms to deeply understand customer needs and predict product types and price expectations [5] - The C2M model has been integrated into various stages of real estate development, including land acquisition, planning, design, and marketing, with extensive customer research conducted prior to project development [5] - Xu Wangang emphasizes the importance of fully implementing the C2M concept throughout the residential development chain, aiming to be a partner rather than just a developer [6]

Core Viewpoint - Beike Group's subsidiary, Beihome, emphasizes its focus on a light-asset model rather than becoming a developer, aiming to leverage its strengths in the real estate market [2][5]. Group 1: Company Strategy - Beihome's CEO Xu Wanggang stated that the decision to not pursue further self-operated projects is not due to poor market performance of existing projects in Chengdu and Shanghai, but rather a strategic shift to collaborate with more real estate partners [2][5]. - The company aims to focus on its C2M (Customer to Manufacturer) model, which is designed to better meet customer needs through comprehensive service offerings [2][4]. Group 2: Market Performance - As of December 11, the Beicheng S1 project in Chengdu achieved 20 signed contracts within a month of opening, ranking second in total signed contracts for high-end residential properties in the city for the year [2][4]. - The Shanghai Beilian C1 project also performed well, ranking third in sales area and number of units sold in November [2]. Group 3: Industry Insights - The real estate market has shifted from a seller's market to a buyer's market since 2021, leading to longer transaction cycles and increased sales costs for developers [3]. - Despite market challenges, high-quality properties continue to sell well, indicating a demand for good housing and services [3]. Group 4: Future Collaborations - Beihome is exploring new collaboration methods beyond traditional developers, including partnerships with city investment companies, construction firms, and financial investors [6].