Core Viewpoint - Beike Group's subsidiary, Beihome, emphasizes its focus on a light-asset model rather than becoming a developer, aiming to leverage its strengths in the real estate market [2][5]. Group 1: Company Strategy - Beihome's CEO Xu Wanggang stated that the decision to not pursue further self-operated projects is not due to poor market performance of existing projects in Chengdu and Shanghai, but rather a strategic shift to collaborate with more real estate partners [2][5]. - The company aims to focus on its C2M (Customer to Manufacturer) model, which is designed to better meet customer needs through comprehensive service offerings [2][4]. Group 2: Market Performance - As of December 11, the Beicheng S1 project in Chengdu achieved 20 signed contracts within a month of opening, ranking second in total signed contracts for high-end residential properties in the city for the year [2][4]. - The Shanghai Beilian C1 project also performed well, ranking third in sales area and number of units sold in November [2]. Group 3: Industry Insights - The real estate market has shifted from a seller's market to a buyer's market since 2021, leading to longer transaction cycles and increased sales costs for developers [3]. - Despite market challenges, high-quality properties continue to sell well, indicating a demand for good housing and services [3]. Group 4: Future Collaborations - Beihome is exploring new collaboration methods beyond traditional developers, including partnerships with city investment companies, construction firms, and financial investors [6].