（原标题：深圳二手房市场"刚需"盘成交活跃） 从片区表现来看，成交前十片区仍以刚需盘聚集地为主。从楼盘录得量来看，热门楼盘除南山的"华润 城润府"外，其他主要都是价格相对"刚需"的楼盘，侧面反映出当前深圳市场以刚需为主。 另据深圳中原研究中心统计，10月深圳的楼市成交结构中，刚需成市场主流。新房及二手住宅的主力成 交面积段均集中在60至90平方米。其中，该面积段的新房住宅占比大幅上升7.7%，二手住宅同样以39% 的成交占比居首。 深圳贝壳研究院数据显示，今年上半年深圳二手房呈现"低总价房源成交占比更高、中高总价房源挂牌 占比更高"的特征。具体来看，200万元以下房源成交占比相较挂牌占比多8.8%，200万元至300万元成 交占比相较挂牌占比多4.4%。乐有家研究中心数据显示，自7月以来，300万元以下房源成交占比持续 位于高位，连续4个月超过25%。 证券时报记者 吴家明 "刚需"是深圳二手房市场成交的主力。 深圳市房地产中介协会最新公布的数据显示，上周全市二手房（含自助）录得量为1472套，环比增长 1.4%，显示购房需求持续释放，二手房市场保持活跃态势。在需求端（委买合同），上周深圳市场新 增需求量继续 ...

Core Viewpoint - The event titled "Protecting Housing Payments, Settling in Zhongshan" marks the launch of Beike's commitment to housing payment security, promising to cover losses if consumers follow the established safety standards [1][3] Group 1: Service Commitment - Beike Zhongshan has introduced a "platform guarantee" service commitment, which ensures that if consumers operate according to the "Housing Payment Security Guarantee Standards" and still incur losses, Beike will initiate a compensation mechanism to cover the relevant payments [1][3] - This commitment upgrades the previous "funds custody" approach, extending the security of real estate funds from the custody phase to the entire transaction cycle [3] Group 2: Operational Procedures - The city manager of Beike Zhongshan, Meng Yungui, emphasized that as long as consumers follow the standard operating procedures, Beike will guarantee the transaction funds [3] - Prior to signing, customers will receive SMS reminders not to make any unauthorized payments such as deposits or intention fees; transaction funds during signing will be processed through a custody payment system [3] - After signing, an official follow-up group will be established for each transaction, ensuring timely feedback once payments are completed [3] Group 3: Market Impact - The platform guarantee concept introduced by Beike is expected to bring new development to the Zhongshan real estate market, enhancing confidence in transaction safety for both parties involved, as well as for the housing fund center and banks [3]

Core Insights - The company, Beike Holdings Limited, reported a significant decline in profits for Q3, with earnings dropping 36.1% to 747 million yuan despite a slight revenue increase of 2.1% to 23.1 billion yuan [4][2]. - The company has spent 675 million USD on share buybacks this year, totaling 2.3 billion USD since September 2022, representing about 11.5% of the total shares before the buyback [7][6]. Financial Performance - In 2024, Beike's revenue is projected to rise by 20.2% to 93.5 billion yuan, but profits are expected to fall by 31% to 4.078 billion yuan [2]. - For the first half of the year, revenue increased by 24% to 49.3 billion yuan, while profits decreased by 7% to 2.162 billion yuan [2]. - The Q3 performance showed a total transaction volume of existing homes reaching 505.6 billion yuan, up 5.8% year-on-year, but revenue from this segment fell by 3.6% to 6 billion yuan [4][5]. Market Challenges - The decline in profits is attributed to a challenging real estate market, affecting the company's primary revenue source from intermediary services [4][5]. - The company has implemented a new strategy called "one body and three wings," focusing on real estate brokerage as the core, with additional segments in renovation, leasing, and property development [5]. Strategic Initiatives - Beike's renovation business reported stable revenue of 4.3 billion yuan in Q3, but future growth is limited due to a decrease in new home transactions [6]. - The property development segment, managed by the brand "Beihome," utilizes a C2M model but faces high capital investment and long timelines for returns, especially in a weak real estate market [6]. Stock Performance and Outlook - Despite a strong performance in the Hong Kong stock market, Beike's stock has dropped 37% from its peak over the past year, trading between 30 to 50 HKD [6][7]. - Analysts have lowered their earnings forecasts for Beike for 2025 to 2027 by 24%, 29%, and 27%, respectively, and downgraded the rating from "buy" to "hold" [7]. - The current price-to-earnings ratio stands at 34 times, indicating that the stock is not cheap, and significant price breakthroughs are unlikely without a recovery in the real estate market [8].

Core Viewpoint - The company "I Love My Home" (000560) reported that as of October 31, 2025, the total number of shareholders is 82,108 [1] Summary by Category - **Company Information** - The total number of shareholders for "I Love My Home" is projected to be 82,108 by October 31, 2025 [1]

近日，国家统计局公布了今年1—10月全国商品房销售的相关数据。数据显示，商品房销售降幅收窄， 待售面积连续八个月减少，房地产开发企业到位资金降幅也在收窄。记者近日在北京、上海、武汉等地 采访发现，虽然楼市还是有所波动，但今年的一系列房地产调控优化政策的效果还在继续显现。 尽管是工作日，在北京丰台的一个新房项目售楼处，记者看到，大厅里坐着不少咨询买房或是办理手续 的客户，沙盘上多栋楼宇已贴出了售罄标签。 销售经理介绍，以往十月过后，市场通常会进入一段平淡期，但今年情况有所不同，客户的购房意愿比 较高，周末接待客户量甚至超过了上个月。 丰台区某楼盘销售经理 任菁菁：明显能感觉到这一系列像降息等政策的落地叠加，对客户的潜在信心 是有增加的。 不止这一个项目，记者发现，今年下半年以来，北京多个新开盘的商品房项目入市后都出现了不同程度 的热销。 浙江工业大学中国住房和房地产研究院院长 虞晓芬：反映了市场信心正在修复，市场已逐步摆脱盲目 波动，向理性稳定过渡，主要表现是政策不再是单纯刺激规模扩张，而是聚焦高质量发展，引导市场回 归居住本质。 二手房正在逐渐成为市场交易主力 记者从住房城乡建设部获悉，今年前十个月，新房和二 ...

Core Viewpoint - Guotai Junan has issued a "Buy" rating for Beike-W (02423), projecting adjusted net profits for 2025-2027 to be 57.19 billion, 62.44 billion, and 69.95 billion respectively, with a 2025 PE valuation of 38 times, leading to a target price of 60.83 yuan, equivalent to 66.85 HKD per share [1] Group 1: Financial Performance - In Q3 2025, the total transaction volume was 736.7 billion, remaining stable year-on-year, while net income increased by 2.1% to 23.1 billion; however, net profit decreased by 36.1% to 0.747 billion, and adjusted net profit fell by 27.8% to 1.286 billion [2] - The company's rental services have integrated AI, contributing over 0.1 billion in profit in Q3 2025, with home decoration and rental services achieving profitability at the city level, marking a historical high in profit contribution [2] Group 2: Business Segments - The existing housing business saw net income of 6 billion, down 3.6% year-on-year, while total transaction volume increased by 5.8% to 505.6 billion; the Beilian model accounted for 62.4% of the total transaction volume, a decrease of 1.1 percentage points quarter-on-quarter but an increase of 3.1 percentage points year-on-year [3] - The new housing business experienced a net income decline of 14.1% to 6.6 billion, with total transaction volume down 13.7% to 196.3 billion; the GTV under the Beilian model accounted for 81.7%, showing a slight increase [3] Group 3: Share Buyback - In Q3 2025, the company achieved a record high in share buyback amounting to 281 million USD, with total buybacks for the year reaching approximately 675 million USD, a 15.7% increase year-on-year, representing about 3% of the total share capital as of the end of 2024 [4] - Since the initiation of the buyback program in September 2022, the cumulative buyback amount has reached approximately 2.3 billion USD, accounting for about 11.5% of the total share capital prior to the program [4]

央视网消息：近日，国家统计局公布了2025年1—10月全国商品房销售的相关数据。数据显示，商品房销售降幅收窄，待售面积连续8个月减 少，房地产开发企业到位资金降幅也在收窄。记者近日在北京、上海、武汉等地采访发现，虽然楼市还是有所波动，但是2025年的一系列房地 产调控优化政策的效果还在继续显现。 尽管是工作日，在北京丰台的一个新房项目售楼处，大厅里坐着不少咨询买房或是办理手续的客户，沙盘上多栋楼宇已贴出了售罄标签。 销售经理介绍，以往10月过后，市场通常会进入一段平淡期。但2025年情况有所不同，客户的购房意愿比较高，周末接待客户量甚至超过了上 个月。 北京市丰台区某楼盘销售经理任菁菁表示，明显能感觉到客户对这一系列的像降息等政策的一些落地叠加，对客户的潜在的信心还是有增加 的。 不止这一个项目，2025年下半年以来，北京多个新开盘的商品房项目入市后都出现了不同程度的热销。 记者从住房城乡建设部获取的数据显示，1—10月份，全国新建商品房和二手房交易总量同比仅下降1.9%，基本保持稳定，没有出现明显收 缩。与此同时，不少大中城市交易活跃，深圳、武汉、厦门、沈阳、南昌、南宁、贵阳、昆明等城市的一二手房交易总量， ...

Investment Rating - The investment rating for the company is "Buy" [4][12]. Core Views - The company reported total revenue of 23.1 billion yuan in Q3 2025, representing a year-on-year growth of 2.1%. However, net income decreased by 27.8% to 1.286 billion yuan [1][4]. - The net revenue from second-hand housing transaction services fell by 3.6% to 6 billion yuan, while new housing transaction services saw a decline of 14.1% to 6.6 billion yuan [1][4]. - The adjusted net profit for Q3 2025 was 1.286 billion yuan, reflecting a significant drop compared to the previous year [2][4]. - The company maintained a strong cash position with cash and short-term investments totaling 55.7 billion yuan, and continued share repurchases amounting to 281 million USD in Q3 [2][4]. Summary by Sections Financial Performance - Total revenue for Q3 2025 was 23.1 billion yuan, with a year-on-year increase of 2.1%. The total transaction value (GTV) was 736.7 billion yuan, remaining stable year-on-year [1][2]. - The gross margin decreased to 21.4%, down from 22.7% in the same period last year, primarily due to reduced contributions from second-hand and new housing transaction services [2][4]. - The adjusted net profit for 2025 is projected to be 5.601 billion yuan, with a decline of 22.3% expected in 2025 [11]. Future Projections - Revenue estimates for 2025, 2026, and 2027 are 93.62 billion yuan, 92.83 billion yuan, and 96.16 billion yuan, respectively [11]. - The adjusted EPS for 2025, 2026, and 2027 is forecasted to be 0.71 USD, 0.97 USD, and 1.10 USD, respectively, with corresponding P/E ratios of 23.5X, 17.2X, and 15.3X [2][11]. Market Position - The company is recognized for its leading position in the market, and its scarcity as an investment target supports the "Buy" rating [2][4].

今年以来，市委网信办持续加大打击房地产领域网络乱象力度，协调有关部门对"锐哥经济思维""上海珑铮新房"等违规"自媒体"账号予以阶段性禁言 处置，联合市房管局、市公安局网安总队等部门对典型违规账号运营主体进行严肃约谈，并指导属地网站平台清理虚假房源信息、利用"标题党"引流 等违法违规和不良信息。属地小红书、哔哩哔哩等重点平台自查清理违法和不良信息80万余条，处置违规房产类账号67万余个，处置直播间5000余 个；完善房产中介账号资质认证措施，引导房地产类账号开展认证。 市委网信办相关负责人表示，互联网不是法外之地，任何网上行为都要严格遵守法律法规，违法违规行为一经查实，必将受到严肃追究。市委网信 办将会同相关部门对专项整治期间屡教不改、顶风违规的账号，依法依规从严查处，切实规范网上房地产信息传播秩序，维护人民群众合法权益。 上海市委网信办会同市房管局、市公安局网安总队等部门， 即日起启动规范网上房地产信息传播秩序专项整治行动。 本次专项行动重点整治网站平台、"自媒体"账号、房地产中介等 在网上发布和传播唱衰上海楼市、歪曲解读政策、虚假低价房源和恶意泛化炒作等 违法违规信息，坚决打击利用网站平台操纵价格、误导预期 ...

智通财经APP获悉，香港置业研究部董事王品弟表示，据土地注册处资料显示，10月香港二手住宅(包 括二手私人住宅及二手公营房屋)录3,905宗注册，较9月的3,831宗微增约1.9%；其中逾1,000万港元二手 住宅录505宗注册，较9月的445宗上升约13.5%，表现跑赢大市，除宗数创半年新高外，亦是今年的第 二高位。 若以三区划分10月逾1,000万港元二手住宅注册量环比表现，当中港岛区宗数最多，录194宗注册，较9 月的166宗增加约16.9%；九龙区宗数环比升幅为三区最大，录175宗注册，较9月的116宗大幅增加约 50.9%；相反，新界区逾1,000万港元二手住宅录136宗注册，较9月的163宗则减少约16.6%，表现相当逊 色。 至于10月逾1,000万港元二手住宅注册量屋苑排名方面，名城以15宗注册居首位，较9月的21宗减少约 28.6%；其次是天玺.天第1期，10月录13宗逾1,000万港元二手住宅注册，较9月的4宗环比大升约2.25 倍；贝沙湾与擎天半岛同时以11宗注册位列第三位，前者较9月的9宗上升约22.2%，后者则较9月的10 宗升约1成。 ...