三年前，贝壳顶着压力与圣都牢牢绑在一起，以此来表现进军家装的决心。三年后，贝壳用数据证明了 这一决策正确性，也让彭永东吃了颗定心丸。 日前，贝壳发布三季度报，净收入为231亿元，同比增加2.1%，分业务来看，家装板块表现亮眼，净收 入为43亿元，贡献利润率提升至32%，连续两个季度实现扣除总部费用前的城市层面盈利。 业绩向好背后，离不开贝壳对家装的持续发力。近年来，贝壳通过智能化提升品质和服务，同时启 动"全案整装服务商"战略、推出资金存管服务，积极解决行业痛点、难点，助力行业向前。 家装业务盈利能力提升 根据财报，今年第三季度，贝壳总交易额达7367亿元，净收入为231亿元，同比增长2.1%，净利润7.47 亿元，经调整净利润12.86亿元，整体业务基本盘保持韧性。 近年来，贝壳着力推动"一体三翼"战略升级，逐步形成以新房和二手房交易为核心业务，家装家居、房 屋租赁、贝好家等为增长业务的发展体系。 分业务来看，今年第三季度，贝壳存量房交易的总交易额为5056亿元，同比增加5.8%。新房业务方 面，2025年前三季度，贝壳新房交易的累计总交易额同比增长约11%，第三季度单季总交易额为1963亿 元。 相比之下 ...

Core Insights - The home decoration industry, valued in trillions, is expected to adopt new standards, with Shanghai Shengdu redefining the comprehensive decoration service model to enhance consumer experience [1] Group 1: Service Upgrade and Consumer Trust - Shanghai Shengdu has launched a brand service upgrade centered on "good products," "guaranteed services," and "true peace of mind," aiming to elevate the standards of comprehensive decoration service providers [1] - The introduction of a "funds custody" service is designed to fundamentally ensure consumer fund safety and establish new industry standards [3] - The funds custody service allows customers to freeze their renovation payments in their bank accounts, releasing funds only after key renovation stages are satisfactorily completed, thus addressing consumer concerns about prepayment risks [3][5] Group 2: Industry Impact and Consumer Protection - The funds custody model has been implemented in 43 cities by Beike, providing safety guarantees for over 25,000 families, with a user adoption rate exceeding 92% and a 97% fund release rate within seven days post-completion [4] - The core value of the funds custody service lies in building trust with consumers, emphasizing a "pay upon satisfaction" principle that directly addresses the financial risks associated with prepayment in the renovation industry [5] - Academic experts support the funds custody mechanism, highlighting its role in creating a trustworthy transaction framework and enhancing consumer rights protection within the home decoration sector [5]

Core Viewpoint - The launch of the fund custody service by Beike Zhengzhuang marks a significant step towards enhancing consumer protection and promoting transparency in the home decoration industry, addressing long-standing issues related to payment and service quality [1][3][10]. Group 1: Fund Custody Service Overview - The fund custody service has been implemented in 43 cities, providing safety guarantees for over 25,000 families in home decoration [1]. - The service aims to address two main consumer pain points: loss of control after payment and lack of fund supervision, which can lead to misuse or fraud [3][5]. - The service operates through a mechanism involving milestone acceptance and bank disbursement, ensuring funds are released only upon consumer satisfaction at key stages of the renovation [5][7]. Group 2: Consumer Benefits and Industry Impact - The fund custody model allows consumers to have more control over their funds, enhancing their bargaining power and ensuring service quality [5][12]. - The service has led to a significant reduction in customer complaints, with complaints halved since its implementation, indicating improved service quality and consumer satisfaction [12]. - The model has been recognized as a response to national policies aimed at promoting high-quality development in the home decoration sector, contributing to a more trustworthy transaction framework [10][12][13]. Group 3: Future Directions and Industry Transformation - Beike Zhengzhuang plans to continue optimizing the fund custody service and expand its coverage to more cities and demographics, reinforcing its commitment to consumer welfare [13]. - The fund custody mechanism is seen as a catalyst for industry reform, pushing companies to focus on service quality and consumer rights, thereby driving high-quality development in the sector [12][13].

Core Viewpoint - The home decoration industry is entering a golden development period driven by the demand for "good houses" and "expanding domestic demand to promote consumption," but it faces challenges such as low consumer trust [1][2] Group 1: Industry Developments - The home decoration industry is adopting new measures to enhance consumer trust and satisfaction, with leading companies implementing innovative solutions [1] - A new funding supervision system has been established by Shenzhen Shengdu Decoration, a brand under Beike, in collaboration with CITIC Bank, aiming to rebuild consumer trust in home decoration transactions [1] - The funding supervision service involves a tripartite regulatory system among customers, banks, and companies, where customer funds are frozen in personal bank accounts until key milestones are met [1] Group 2: Financial Mechanism - The mechanism operates on the principle of "separation of interest and principal," ensuring that interest accrued during the freezing period belongs to the customer, thus protecting consumer rights [1] - The initiative reflects a shift from "oral promises" to "institutional guarantees" in the home decoration industry, marking a significant transformation in industry practices [2] - Beike's home decoration business generated a net income of 7.5 billion yuan in the first half of the year, representing a year-on-year growth of 16.5% [2]