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10月22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 Viewpoint - Beike-W (02423.HK) announced a share repurchase plan, intending to buy back 810,000 shares at a cost of $5 million by October 20, 2025 [1] Summary by Categories Company Actions - The company plans to repurchase shares, indicating a commitment to returning value to shareholders [1] - The total expenditure for the buyback is set at $5 million [1] - The number of shares targeted for repurchase is 810,000 [1]

贝壳-W(02423)发布公告，于2025年10月20日该公司斥资500万美元回购81.03万股，回购价格为每股 6.07-6.24美元。 ...

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10月21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 Viewpoint - Beike's decision to hide second-hand housing transaction prices has raised concerns about transparency in the real estate market, potentially leading to a "guessing game" for buyers and sellers, and altering the dynamics of price negotiations [2][12][15] Group 1: Impact on Market Dynamics - The removal of visible transaction prices may lead to increased information asymmetry, allowing sellers to set higher prices without a clear benchmark, which could result in inflated asking prices and flexible commission negotiations for intermediaries [11][12] - Beike's historical commitment to transparency has been compromised, which may erode customer trust and lead to a decline in transaction frequency as buyers and sellers become more hesitant [11][14] - The change is seen as a response to market pressures, including the rise of "zero commission" models that have disrupted traditional commission structures, prompting Beike to adapt its pricing strategy [14][15] Group 2: Historical Context and Recent Developments - Beike's move to hide transaction prices is not unprecedented; similar actions were taken in cities like Shenzhen and later in other major cities, indicating a broader trend in response to market conditions [3][14] - The decision aligns with recent initiatives from real estate associations aimed at stabilizing market expectations and preventing panic selling among homeowners [14][15] - The shift may also be a strategic maneuver to counteract negative market sentiment and protect property values, as publicized low transaction prices have been linked to increased seller anxiety [12][15] Group 3: Stakeholder Reactions - Real estate agents express mixed feelings; while some believe it will not significantly impact their operations, others worry about the long-term implications for market trust and competition [10][11] - Buyers are increasingly reliant on informal channels for price information, leading to a more fragmented and uncertain purchasing process [12][14] - There are calls for greater transparency in the market, with suggestions for government involvement to provide reliable transaction data to buyers and sellers [14][15]

Core Viewpoint - Chinese concept stocks experienced a significant rally on Monday, with the Nasdaq Golden Dragon China Index rising over 2% [1] Group 1: Stock Performance - Alibaba's stock increased by over 3% [1] - Pinduoduo's stock rose by over 2% [1] - NetEase's stock gained over 3% [1] - JD.com's stock went up by over 2% [1] - Ctrip, Baidu, and Tencent Music each saw an increase of over 1% [1] - Beike's stock rose by over 2% [1] - NIO's stock surged by over 4% [1]

Core Viewpoint - The Hong Kong stock market experienced a strong rally, with the Hang Seng Index closing up by 2.42%, driven primarily by gains in technology and oil sectors [1][3]. Group 1: Market Performance - The Hang Seng Technology Index opened significantly higher and saw a peak increase of 3.9% during the day, ultimately closing up by 3% [3]. - Notable performers in the technology sector included NetEase, which surged by 5.18%, and Alibaba, which rose by 4.86%. Over ten stocks, including JD Health, SMIC, Baidu, NIO, and Tencent, recorded gains exceeding 3% [3]. - The oil sector also showed strong performance, with the index closing up by 2.54%. China Petroleum led the gains with a rise of 5.05%, followed by China National Offshore Oil Corporation (CNOOC) at 2.31%, and Sinopec at 1.49% [3]. Group 2: Weak Sectors - The real estate and banking sectors underperformed, with the real estate index closing up by only 0.62% and the banking index by 1.04%. Both sectors experienced a rebound after initial declines but could not maintain momentum [3]. - Specific companies in the real estate sector, such as Longfor Group and Jianfa International Group, saw declines of 1.63% and 1.61%, respectively. In the banking sector, Chongqing Rural Commercial Bank fell by 1.51% [3].

Core Insights - The real estate market in September showed relative stability, with steady transaction volumes in the secondary market and ongoing structural differentiation in the new housing market [1] - Positive signals emerged as the year-on-year decline in housing prices narrowed, indicating that the effects of previous policies are gradually permeating the market, alleviating long-term downward pressure [1] Market Performance - In September, 64.1% of online house-hunting users on the Anjuke platform were looking for second-hand homes, marking a 1.6 percentage point increase from the previous month and reaching the highest level since April [1] - The average listing duration for second-hand homes in 100 cities increased to 95 days, with third and fourth-tier cities experiencing an even longer duration of 99 days, indicating greater difficulty in inventory digestion in smaller cities [1] New Housing Market - The new housing market performed relatively well, with new home prices in Beijing and Shanghai increasing by 0.2% and 0.3% month-on-month, respectively, and Shanghai achieving a significant year-on-year growth of 5.6% [1] - Key support for this growth came from the introduction of quality improvement housing in core areas and the relaxation of purchase restrictions in peripheral areas [1] Policy Impact - The relaxation of policies in August and September directly stimulated demand, supporting both new home prices and transaction volumes in the secondary market [1] - Expectations for stable housing prices and continued policy easing are anticipated to bolster transaction volumes in core cities in the fourth quarter, while non-core areas and many smaller cities will still need to rely on "price for volume" strategies to reduce inventory [2]

Core Viewpoint - Beike-W (02423) announced a share repurchase plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Repurchase Details - The company will spend 5 million USD to repurchase 821,200 shares [1] - The repurchase price per share ranges from 6.01 to 6.12 HKD [1]

智通财经APP讯，贝壳-W(02423)发布公告，该公司于2025年10月17日斥资500万美元回购82.12万股股 份，每股回购价格为6.01-6.12港元。 ...