Core Viewpoint - Beike (BEKE.US) has experienced a 7-day consecutive rise, with a total increase of 13.7%, indicating a reversal trend in its stock performance [1] Company Strategy - Beike is implementing a "one body, three wings" strategy, focusing on creating a comprehensive residential service ecosystem that covers real estate transactions, home decoration, rental, and residential development [1] - The existing housing business relies on the ACN collaboration network and property dictionary, establishing a solid industry barrier [1] - The new housing business emphasizes the 3P model, contributing over 80% of transaction volume, serving as a core growth engine [1] Future Outlook - The company plans to deepen its "one body, three wings" strategy, ensuring steady development in the real estate brokerage sector while accelerating the layout of three major business lines: Huihaoju, integrated decoration, and Beihome [1] - This approach aims to enhance one-stop residential service capabilities and solidify its leading position in the industry [1]

Core Viewpoint - Beike has launched a comprehensive service guarantee system for real estate transactions, focusing on ensuring the safety of transaction funds and addressing the growing demand for transparency and standardization in the second-hand housing market [1][3]. Group 1: Service Commitment and Upgrades - Beike's new service commitment, "Fund Safety, Platform Guarantee," was introduced in Dalian, making it the first city in Northeast China to offer such a service [1][6]. - The company has upgraded its previous "fund custody" service to cover the entire transaction cycle, enhancing risk management and ensuring dynamic monitoring of fund flows [5][15]. - Beike has created official service groups for each transaction, ensuring that all participants are verified and that fund information is transparent and interactive [5][6]. Group 2: Risk Management and Consumer Protection - Beike has defined five categories of potential financial loss risks and established a risk management organization to enhance transaction safety [5][15]. - The company has refunded a total of 4.99 billion yuan in compensation since its establishment, reflecting its commitment to consumer protection and value creation [3][5]. - The Dalian Consumer Association has partnered with Beike to promote consumer rights protection, indicating government support for Beike's efforts in standardizing transactions and safeguarding consumer interests [11][15]. Group 3: Community Engagement and Additional Services - Beike Dalian has introduced a free service for the transfer of property ownership between direct relatives, covering all necessary procedures without charging any fees [13]. - The launch of this service is part of Beike's broader strategy to enhance the consumer experience in real estate transactions and contribute to social responsibility [13]. - Eleven brand owners signed a service commitment letter at the event, reinforcing their dedication to customer-centric values [13].

Core Viewpoint - Beike-W (02423.HK) announced a share buyback of 1.096 million shares at a cost of $7 million on September 8 [1] Group 1 - The company executed a buyback program, indicating confidence in its stock value [1] - The total expenditure for the buyback was $7 million, reflecting a strategic move to enhance shareholder value [1] - The number of shares repurchased was 1.096 million, which may impact the company's share structure and market perception [1]

Core Viewpoint - The company Beike-W (02423) announced a share buyback plan, indicating confidence in its financial health and future prospects [1] Group 1 - The company will spend $6.9977 million to repurchase 1.0965 million shares [1]

| 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 | | 佔有關事件前的現有已發 | | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) | 2025年9月5日 | 3,430,132,293 | | 0 | | 3,430,132,293 | | 1). 其他 (請註明) | | | % | | | | | 見B部分 | | | | | | | | 變動日期 2025年9月8日 | | | | | | | | 於下列日期結束時的結存 (註5及6) | 2025 ...

Core Viewpoint - Beike's Ningbo station has launched a comprehensive service guarantee system called "True Guarantee," covering second-hand housing, new housing, and rental services, integrating service assurance into daily commuting through a dedicated subway train [1][9]. Group 1: Service Upgrade Announcement - The launch event was attended by representatives from regulatory bodies, industry associations, banks, and media, who recognized Beike's efforts in consumer rights protection and service quality enhancement [3]. - The Ningbo Consumer Rights Protection Committee praised Beike for its commitment to integrity and consumer communication, urging the company to maintain high service standards [3]. - The Ningbo Real Estate Association highlighted the "True Guarantee" service as a new benchmark for integrity in the industry, promoting self-regulation [3]. Group 2: Comprehensive Coverage of Services - Beike's Ningbo station introduced six service guarantees for second-hand housing transactions, including double refunds for price differences and compensation for property issues [5]. - For new housing, Beike committed to transparent transactions with no service fees and ensured all properties have complete legal documentation [5]. - The rental service introduced personal and property safety guarantees, along with special support for recent graduates, such as zero deposit and flexible rental options [5]. Group 3: Commitment to Service Standards - Representatives from various well-known real estate brands pledged to adhere to Beike's "True Guarantee" service standards and accept social supervision [7]. - Beike's professional service team committed to delivering high-quality service in line with the "True Guarantee" system [7]. Group 4: Brand Train Launch - A themed subway train was launched to promote the "True Guarantee" service, expected to reach over ten million passengers in the next three months [9]. - The train features a QR code for consumers to access information about the "True Guarantee" services directly [9]. Group 5: Future Service Enhancements - Beike's Ningbo station plans to further develop the "True Guarantee" service system, optimizing claims processes and expanding service scenarios for a better real estate transaction experience [9]. - The company aims to collaborate with industry partners to enhance living service standards and build a more transparent and healthy industry ecosystem [9].

Core Viewpoint - Beike (BEKE.US) continues to rise, with a pre-market increase of 2.45%, marking a six-day consecutive gain, driven by positive market sentiment and favorable policy changes in the real estate sector [1] Company Summary - According to a report by Xingzheng International, Beike's adjusted net profit for the years 2025, 2026, and 2027 is projected to be 6.2 billion, 7.4 billion, and 8.6 billion respectively, indicating strong growth potential [1] - The company is recognized as an industry leader with strong alpha attributes, suggesting it can outperform the market [1] Industry Summary - Recent policy adjustments in major cities, particularly in Beijing, Shanghai, and Shenzhen, have focused on easing restrictions, which is expected to stabilize and promote healthy development in the real estate market [1] - The real estate sector is anticipated to benefit from these favorable policies, contributing to Beike's beta elasticity as the market recovers [1]

Core Viewpoint - The real estate industry faces significant consumer complaints related to property quality, transaction transparency, and after-sales service, prompting companies like Beike to enhance service commitments and consumer protections [1][2]. Group 1: Consumer Issues in Real Estate - Consumers often encounter issues such as price discrepancies and lack of after-sales support, leading to trust crises in real estate services [2]. - Common problems include water leakage, wall cracks, and unpaid property fees, which complicate the post-transaction experience for buyers [2]. Group 2: Beike's Initiatives - Beike has launched three platform-level service commitments in Jinan: genuine listings with a penalty for false claims, commission refunds for failed transactions, and advance payment for property fee losses, supported by a 100 million yuan guarantee fund [2]. - The company has invested over 30.17 million yuan in service commitment guarantees from January 2021 to August 2025, maintaining a monthly service commitment fulfillment rate of 98.5% [3]. Group 3: Strategic Upgrades - Beike has undergone a strategic upgrade from "genuine listings" to "genuine guarantees," reinforcing its commitment to transparent transactions and consumer protection [4]. - The company aims to address the housing needs of young professionals in Jinan, providing clear service commitments to alleviate concerns about potential issues during the buying process [4].

Core Viewpoint - Beike (BEKE.US) shows a strong performance with a 2.32% increase in stock price last Friday and a further 1% rise in pre-market trading, indicating positive market sentiment towards the company [1] Financial Performance - In Q2 2025, Beike's total GTV (Gross Transaction Value) is expected to grow by 4.7% year-on-year to 878.7 billion yuan, with second-hand housing GTV increasing by 2.2% to 583.5 billion yuan and new housing GTV rising by 8.5% to 255.4 billion yuan [1] - The company's revenue for Q2 2025 is projected to increase by 11.3% year-on-year to 26 billion yuan, with adjusted net profit reaching 1.82 billion yuan, aligning with market expectations [1] Future Projections - The firm anticipates Beike's adjusted net profit for the years 2025, 2026, and 2027 to be 6.2 billion yuan, 7.4 billion yuan, and 8.6 billion yuan respectively, highlighting the company's strong alpha attributes and potential beta elasticity from the stabilization of the real estate sector [1]

Core Viewpoint - The report from Xingzheng International predicts that Beike-W (02423) will achieve adjusted net profits of 6.2 billion, 7.4 billion, and 8.6 billion yuan for the years 2025, 2026, and 2027 respectively, highlighting the company's strong alpha attributes and potential beta elasticity from the real estate sector's stabilization, with a buy rating given [1] Group 1 - In Q2 2025, the company's performance met expectations, with total GTV increasing by 4.7% year-on-year to 878.7 billion yuan, driven by a 2.2% increase in second-hand housing GTV to 583.5 billion yuan and an 8.5% increase in new housing GTV to 255.4 billion yuan [2] - The company's revenue grew by 11.3% year-on-year to 26 billion yuan in Q2 2025, with adjusted net profit reaching 1.82 billion yuan, aligning with expectations [2] Group 2 - The Non-GAAP operating expense ratio for Q2 2025 was 16.2%, down 0.3 percentage points year-on-year and 0.1 percentage points quarter-on-quarter, indicating improved management and technology application [3] - The Non-GAAP sales expense ratio also decreased by 0.7 percentage points year-on-year and 0.2 percentage points quarter-on-quarter, suggesting ongoing efficiency improvements [3] Group 3 - The new housing take rate in Q2 2025 remained high at 3.37%, unchanged year-on-year, with the impact of new housing regulations being limited due to their low market share in most cities [4] Group 4 - In the first half of 2025, the company repurchased shares worth 394 million USD, accounting for approximately 1.7% of the total shares outstanding at the end of 2024, and announced an increase in the existing repurchase plan from 3 billion USD to 5 billion USD, extending the plan until August 31, 2028 [5]