Core Viewpoint - The report from CICC indicates that Beike's revenue for the third quarter increased by 2.1% year-on-year to 23.1 billion yuan, meeting market expectations; the adjusted net profit was 1.29 billion yuan, exceeding market expectations, primarily due to effective cost control [1] Financial Performance - Beike's third-quarter revenue reached 23.1 billion yuan, reflecting a year-on-year growth of 2.1% [1] - The adjusted net profit for the third quarter was 1.29 billion yuan, surpassing market expectations [1] Share Buyback - As of the end of the third quarter, the company's cumulative share repurchase amounted to approximately 675 million USD [1] Market Outlook - CICC maintains a positive outlook on Beike's one-stop residential service platform's competitiveness and development prospects, sustaining an "outperform industry" rating and a target price of 25 USD [1] - The company is expected to benefit from cost reduction and efficiency improvement, along with medium to long-term profit elasticity from its main and new businesses [1]
研报掘金丨中金：维持贝壳“跑赢行业”评级 看好公司的竞争力及发展前景