Core Insights - Beike (2423.HK) saw a 3.97% increase in stock price, reaching HKD 43.98 during trading [1] - For Q3 2025, Beike reported revenue of CNY 23.1 billion, a year-on-year increase of 2.1% [1] - The company's NON-GAAP net profit was CNY 1.29 billion, while the total transaction value (GTV) remained stable at CNY 736.7 billion compared to the same period last year [1] Financial Performance - Beike's Q3 performance exceeded expectations, indicating the company is on the right track [1] - The net profit margin is projected to improve to 7% next year, driven by a nearly CNY 2 billion reduction in agent and store costs year-on-year [1] - Non-transaction service business has shown continuous profitability for two consecutive quarters, with expected contributions of CNY 800 million and CNY 1.3 billion in profits over the next two years [1] Market Outlook - Citigroup raised Beike's H-share target price from HKD 61.4 to HKD 63, maintaining a "Buy" rating [1] - The company's growth is supported by advancements in artificial intelligence, innovation, and ecosystem development [1]
港股异动丨贝壳涨约4% 绩后获花旗上调目标价