Core Insights - The implementation of the Housing Rental Regulations has led to a new development opportunity in the rental industry, with market order becoming more standardized and policy benefits gradually being released [1][2] Group 1: Market Dynamics - The shift in supply and demand dynamics is central to the industry's transformation, driven by both policy and market forces [1] - The introduction of guaranteed rental housing has expanded both the quality and quantity of available housing, increasing financial support for more participants and enhancing the overall quality of housing [1][2] Group 2: Compliance and Efficiency - Compliance and efficiency are foundational to the industry's restructuring, with companies needing to adopt technological measures to ensure the authenticity of housing information and compliance with regulations [2] - The regulations are expected to eliminate non-compliant companies, leaving those that genuinely focus on user needs [2] Group 3: Service and Product Innovation - Changes in tenant demands are reflected in service upgrades and adjustments in product structure, with new projects needing to emphasize quality and spatial design [2] - Companies are increasingly integrating various asset types (long-term rentals, commercial, elderly care, office spaces) to provide comprehensive living solutions [2] Group 4: Social Value and Community Engagement - The new rental era requires companies to balance economic and social value, transitioning from landlords to micro-city operators that cater to specific community needs [2] - Attention to details such as charging needs for delivery personnel and breakfast supply reflects the importance of service quality in the new rental landscape [2] Group 5: Asset Valuation - The introduction of public REITs has altered valuation logic, with cash flow stability becoming a core indicator for asset valuation [3] - Uncertainties regarding land tenure and renewal policies are identified as major bottlenecks, necessitating improvements in operational efficiency and service enhancement to boost market recognition during asset exit [3]

Core Insights - The 2025 Responsibility China ESG Annual Ceremony was held in Guangzhou, focusing on corporate social responsibility and ESG development pathways [2] - Hou Wenjing, Secretary-General of the Beike Public Welfare Foundation, emphasized the foundation's commitment to "business for good" and integrating public welfare into corporate strategy [2] Group 1: Community Support for the Elderly - Beike Public Welfare has developed a systematic approach to community support for the elderly, highlighted by the "I Teach You to Use a Mobile Phone" project, which has engaged over 445,000 active agents and served approximately 1.3 million elderly individuals across over 130 cities [3][5] - The "I Teach You to Prevent Falls" project, launched in 2023, has reached over 144,000 elderly individuals through health classes and materials [5] - The "Independent Guardian Plan," initiated in 2024, aims to provide smart home solutions for elderly individuals living alone, with plans to serve 2,000 households in three cities [5] Group 2: Community Building Initiatives - The "Beike Medical Love Home" project has provided temporary housing and support for families of critically ill children, serving 1,848 families with over 19,000 nights of accommodation [6] - Beike's offline store network has been transformed into community service nodes, exemplified by the "Neighbor Home" and "Rider Station" projects in Guangzhou, which integrate various community services [8] - The foundation's approach combines business resources, store networks, and technology to address key community needs, reinforcing its commitment to creating value for consumers and society [8]

Core Viewpoint - Beike-W (02423.HK) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will spend $5 million to repurchase 813,100 shares [1]

智通财经APP讯，贝壳-W(02423)公布，2025年10月23日耗资约500万美元回购约81.31万股股份。 ...

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24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) has had its MSCI ESG rating upgraded from A to AA as of October 23, 2025, according to the ESG Rating Center of Sina Finance [1] Group 1 - The upgrade reflects an improvement in the company's environmental, social, and governance practices [1]

Group 1 - The salon focused on the transformation and future of the housing rental market, highlighting industry trends and market opportunities in the new rental era [1] - The implementation of the Housing Rental Regulations has begun to release policy dividends, leading to a new development opportunity for the rental industry [1] - Experts emphasized the need for companies to quickly and sensitively respond to changes in user demands, particularly in the rental sector, to gain a competitive edge [1] Group 2 - The discussion included topics such as differentiated operations, evolution of business models, and enhancement of asset value [1] - Companies are encouraged to balance economic and social value, transitioning from "landlords" to "micro-city operators" to meet diverse user needs [1][2] - The core keywords for the new rental era are "operational efficiency," "user demand," and "ecological co-construction," which are essential for reconstructing living relationships and promoting urban symbiosis [2]

Core Viewpoint - Beike-W (02423.HK) announced a share buyback of 813,000 shares for a total expenditure of $5 million on October 22 [1] Group 1 - The company executed a buyback program, indicating confidence in its stock value [1] - The total amount spent on the buyback was $5 million [1] - The number of shares repurchased was 813,000 [1]

Core Viewpoint - Beike-W (02423) announced a share repurchase plan, committing to buy back 812,800 shares for a total expenditure of $5 million by October 22, 2025 [1] Summary by Category - **Company Actions** - The company plans to repurchase 812,800 shares [1] - The total amount allocated for the buyback is $5 million [1] - **Financial Implications** - The share repurchase indicates the company's confidence in its financial health and future prospects [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10月23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 | 佔有關事件前的現有已發 | | 庫存股份變動 | 每 ...