CT-BEKE@EC2604A

KE.com adjusts talent flow rules, removes broker movement restrictions

Kejian Launches Industry Self-regulation Norms, Requiring Agents to Adhere to 'Neutral Market View'

Goldman Sachs Downgrades KE Holdings to Neutral and Adjusts Financial Projections

Beijing's New Property Market Policy Boosts Market Activity After One Month

GF Securities Provides Rating and Performance Forecast for KE Holdings

KE Holdings repurchased shares worth $3 million

Kejian-W repurchased 589,100 shares for about $3.5 million

Kejian-W repurchased 603,500 shares

KE Holdings repurchased 598,900 shares for approximately 3.5 million USD

CITIC Securities and DBS Maintain Buy Rating and Target Price for KE Holdings

KE Holdings repurchased 615,000 shares

KE.com Issues Internal Notice Reiterating Market Neutrality

Kejian-W repurchased $3.5 million worth of shares

KE Holdings repurchased 609,400 shares for $3.5 million

DBS Analyst Maintains Buy Rating for Ke Holdings A Shares

KE Holdings repurchased 602,200 shares for 3.5 million USD

KE Holdings Inc repurchased about 939,000 shares for about $5 million

Ke Holdings' Beihaohome Real Estate Projects Succeed in Chengdu and Shanghai

Kejian-W repurchased 563,000 shares for $2.999 million

KE Holdings Repurchased Shares Over Two Consecutive Days

GUANZE MEDICAL

PCPD

STARCOIN GROUP

HUILI RES

TIMES UNI GP

MANY IDEA CLOUD

WALNUT CAP

SILKWAVE INC

HUA LIEN INT'L

WAI CHUN GROUP

BEKE

01179

KPDD

02423

PDDL

Gao Yi Asset's holdings in U.S. stocks, as disclosed in the filings with the U.S. Securities and Exchange Commission for the end of 2025, show that it holds shares in 13 companies with a total market value exceeding $600 million. The focus is on Chinese concept stocks, particularly increasing positions in PDD and KE in the fourth quarter of last year, and newly purchasing shares in Yatsen. The top ten holdings include Huazhu Group, PDD, Google, etc., with Chinese concept stocks dominating. The shareholding in PDD has increased to 1.333 million shares, an increase of 629,000 shares compared to the end of the third quarter of last year

36Kr

Yatsen

HWORLD-S

KraneShares 2x Long PDD Daily ETF

BEKE-W

GraniteShares 2x Long PDD Daily ETF

Gao Yi Asset's US stock holdings exposed, increasing positions in PDD, KE, and others

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06181

03993

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The Hang Seng Index Company announced the latest quarterly review results, with CATL, LAOPU GOLD, and CMOC being included in the Hang Seng Index constituent stocks, increasing the total to 90 stocks, while Zhongsheng Group was removed. In the case of the Hang Seng China Enterprises Index, BEKE and HORIZONROBOT-W were included, while China Resources Beer and Mengniu Dairy were removed, maintaining a total of 50 constituent stocks. There were no changes in the constituent stocks of the Tech Index

Stheadline

HORIZONROBOT-W

LAOPU GOLD

CMOC

CATL

Huaan Yifu Gold ETF

The Hang Seng Index quarterly review reveals that CATL, LAOPU GOLD, and CMOC have turned blue, increasing the number of blue-chip stocks to 90

HSCEI

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512690

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CIADY

Hang Seng Indexes Company announced that in the quarterly review results up to December 31, 2025, the Hang Seng China Enterprises Index will add BEKE-W and HORIZONROBOT-W, while removing CHINA RES BEER and Mengniu Dairy. The total number of constituent stocks will remain at 50, and all changes will be implemented after the market closes on March 6, 2026, and will take effect on March 9, 2026

AASTOCKS

Hang Seng China Enterprises Index

HSCEI ETF

Penghua CSI Alcoholic Drink ETF

MENGNIU DAIRY

CHINA RES BEER

Mengniu Dairy

In the "Quarterly Review," the Hang Seng China Enterprises Index includes BEKE-W and HORIZONROBOT-W while excluding CHINA RES BEER and Mengniu Dairy

09888

TCOM

BIDU

The NASDAQ Golden Dragon China Index initially closed down 2.9%. Among popular Chinese concept stocks, Tencent Music initially closed down 10%, Trip.com fell 6%, KE dropped 5.8%, Bilibili, Baidu, CSI Solar, and YUM China fell over 4%, Alibaba dropped 3.4%, Atour rose 1.2%, and Century Internet rose 3.7%

Wallstreetcn

BIDU-SW

Invesco Golden Dragon China

Trip.com

Tencent Music

Global X E-commerce ETF

BABA 2x Long Daily ETF - GraniteShares

Guotai MSCI China A ESG General ETF

YUM China

Roundhill China Dragons ETF

NASDAQ Golden Dragon China Index

Baidu

ALI HEALTH

BILIBILI-W

YUM CHINA

CSI Solar

Alibaba

KraneShares 2x Long BABA Daily ETF

Yinhua MSCI China A ETF

BABA-W

Bilibili

Direxion FTSE China Bull 3X

TRIP.COM-S

TME-SW

XLRE

CMB International predicts that KE's revenue in the fourth quarter of last year will decline by 28.5% to RMB 22.2 billion, with an expected quarterly non-GAAP net profit of RMB 427 million and a net profit margin of 1.9%. Nevertheless, CMB International is optimistic about KE's technological capabilities and service quality, forecasting that this year's non-GAAP net profit will reach RMB 7 billion, a year-on-year increase of approximately 42%. Therefore, the target price for KE has been raised to $21.8, maintaining a "Buy" rating

iShares Residential and Multisector Real Estate ETF

Vanguard Real Estate ETF

Real Est Select Spdr

iShares Global REIT

SPDR Dow Jones Global Real Estate ETF

iShares US Real Estate ETF

Schw Us Reit

WisdomTree New Economy Real Estate Fund

FlexShares Glbl Quality Real Estate ETF

CITIC International raised KE's target price to $21.8, expecting a profit recovery this year

Goldman Sachs published a research report stating that KE-W benefits from policy support boosting investor confidence and the recent strong performance of the second-hand housing market, driving up its stock price. However, the firm believes that due to KE's valuation becoming reasonable after the recent stock price increase, it has downgraded its rating from "Buy" to "Neutral." Additionally, based on earnings revisions and valuation rolling to the end of 2026, the target price for KE has been adjusted to HKD 49, while the target price for KE's U.S. stock has been adjusted to USD 19

Goldman Sachs: KE's valuation has become reasonable, downgraded to "Neutral"

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CTG DUTY-FREE(01880) rose 7.98%, with a trading turnover 414.8 Million HKD, and a year-to-date rose 22.8%. BEKE-W(02423) rose 7.56%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 25.2%. SANDS CHINA LTD(01928) fell 7.96%, with a trading turnover 1.1 Billion HKD, and a year-to-date fell 11.5%. HORIZONROBOT-W(09660) fell 5.94%, with a trading turnover 2.1 Billion HKD, and a year-to-date fell 3.1%.

Top Gainers & Losers

CTG DUTY-FREE

CHINA OVERSEAS

JIANGXI COPPER

ANTA SPORTS

SANDS CHINA LTD

HUA HONG SEMI

GALAXY ENT

Top 5 HK Stock Gainers/Losers (>100B) (1.29)

In a report released yesterday, from GF Securities maintained a Buy rating on KE Holdings, Inc. Class A, with a price target of HK$58.37. The company’s shares closed today at HK$47.66.Claim 50% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential Currently, the analyst consensus on KE Holdings, Inc. Class A is a Strong Buy with an average price target of HK$54.55.

Tip Ranks

KE Holdings, Inc. Class A (2423) Gets a Buy from GF Securities

KE Holdings (NYSE:BEKE) has confirmed its Class A share count at approximately 3.37 billion and has engaged in significant share buybacks, indicating strong capital management. Currently trading at $17.32, the stock shows a 7.85% year-to-date return but a 75.02% decline over five years. Analysts suggest a fair value of $20.37, indicating the stock may be undervalued. The company is diversifying its revenue through high-margin services, which now account for 41% of total sales. However, the stock trades at a P/E of 40.3x, above industry averages, raising concerns about growth risks.

Simplywall

KE Holdings (NYSE:BEKE) Valuation Check As Ongoing Share Buybacks Signal Confidence

In a report released yesterday, from Southwest Securities maintained a Buy rating on KE Holdings, Inc. Class A, with a price target of HK$55.08.Claim 70% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential In a report released on January 7, DBS also maintained a Buy rating on the stock with a HK$52.09 price target.

KE Holdings, Inc. Class A (2423) Receives a Buy from Southwest Securities

KE Holdings Inc. (NYSE: BEKE) experienced a significant surge in options trading, with investors purchasing 42,919 put options, marking a 672% increase from the average daily volume. The stock rose 1.8% to $17.36, with a market cap of $19.75 billion. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average target price of $23.30. Institutional investors have also increased their stakes in the company, which operates a technology-driven real estate services platform in China.

Market Beat

KE Target of Unusually High Options Trading (NYSE:BEKE)

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Bank of America Securities' latest investment ratings and target prices for Chinese internet stocks are as follows: Alibaba - Buy, target price HKD 176; Alibaba Health - Buy, target price HKD 6.56; Autohome - Neutral, target price HKD 57; Baidu - Buy, target price HKD 148; Bilibili - Buy, target price HKD 242; JD HEALTH - Buy, target price HKD 75; JD.com - Buy, target price HKD 149; KE - Buy, target price HKD 52; Kuaishou - Buy, target price HKD 82; Meituan - Neutral, target price HKD 103 to HKD 106; NetEase - Buy, target price HKD 259; Pinduoduo - Neutral, target price USD 140; Tencent - Buy, target price HKD 780; Tencent Music - Neutral, target price HKD 82; Trip.com - Buy, target price HKD 667; Tuhu - Buy, target price HKD 22; Vipshop - Buy, target price USD 23.6; Weibo - Underperform, target price HKD 68

JD HEALTH

JD.com

JD-SW

"Big Banks" Bank of America’s latest investment ratings and target prices for Chinese internet stocks

Ben Wong from DBS has maintained a Buy rating on KE Holdings, Inc. Class A (2423) with a price target of HK$52.09. The analyst consensus for the stock is Strong Buy, with a price target consensus of HK$54.31. Wong has an average return of 4.2% and a 47.22% success rate on his stock recommendations, focusing on the Real Estate sector.

KE Holdings, Inc. Class A (2423) Gets a Buy from DBS

Today’s Key News Recap

1111 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. The U.S. Senate has passed a temporary spending bill aimed at ending the longest government shutdown in history, which has lasted for 41 days. The bill now requires approval from the House of Representatives and the President's signature to take effect. This move is a result of bipartisan compromise, providing short-term relief from economic and livelihood impacts, but the core disagreements are merely postponed, with the possibility of another deadlock after January 30th, highlighting the increasing trend of political polarization in the United States. 🐬 Individual Stocks 1. $Baidu(BIDU.US) RoboTaxi has received the first batch of fully unmanned commercial operation licenses issued by the Abu Dhabi Integrated Transport Center...

Intel

Disc Medicine

SIASUN

Morgan Stanley

Integra Group (Russia) Sponsored GDR RegS

Integral Acquisition  1

XPENG-W

HESAI-W

Hesai

OpenAI

Destiny Tech100

Citigroup

BIDU-SWR

XPeng

INTEL-T

BTQ Tech

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

Integral Acquisition 1 - Unit

INTEGRAL ACQUISITION CORP 1 C/WTS 31/05/2028 (TO PUR COM)

Baidu HK SDR 10to1

XPeng surged 17% in a single day; Intel AI Chief jumps ship to OpenAI | Today's Important News Recap

Conference Minutes

The following are the minutes of the $Beike (BEKE.US) FY25Q3 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;Beike: Is There Really Still Hope?&#34; 1. Review of Core Financial Data Performance Overview: Total revenue was RMB 23.1 billion, a year-on-year increase of 2.1%; gross margin was 21.4%, a year-on-year decrease of 1.3 percentage points, mainly due to the decrease in the proportion of new home business revenue (which has a high contribution rate) and the decline in the contribution rate of the new home business itself...

Kimball Electron

Accenture

ONLINE OFFLINE

Ameriprise Financial

BEKE (Minutes): How to Reduce Costs and Increase Efficiency is the Absolute Focus

Financial Analysis

Leading domestic housing intermediary--$KE(BEKE.US) announced its Q3 2025 results on the evening of November 10th before the US stock market opened. Overall, the performance can be summarized as &#34;not good, but not as bad as feared.&#34; Additionally, due to the recent significant pullback in the company's stock price, the low expectations implied by the relatively low stock price have led to some bottoming out and recovery. Specifically: 1. Revenue is still supportive, but profits are deeply underwater: In terms of overall performance, although the core intermediary business revenue experienced negative growth in the sluggish real estate market, it was offset by the strong performance of the slightly &#34;bloated&#34; rental business...

SBC Medical

Hope Bancorp

SBC MEDICAL GROUP HOLDINGS INCRPRTD C/WTS 17/09/2029 (TO PUR COM)

BEKE: Is there still hope?

Beike 3Q25 Quick Interpretation: Overall, Beike's performance this quarter can be summarized as &#34;not good, but not as bad as feared.&#34; Due to the recent general decline in U.S. stocks, the company's share price has also retreated by more than 15%, hitting bottom and recovering amid low expectations &amp; stock prices. 1) In terms of financial performance, total revenue for the quarter grew approximately 2% year-on-year, largely in line with expectations. Although the gross profit margin declined year-on-year, leading to a decrease in gross profit by 200 million (-4% yoy), the expectation was lower at -7%. Facing industry headwinds, the company timely reduced its expenses, with total operating expenses down approximately 2% year-on-year (about 80 million). As a result, the final operating profit only declined by slightly over 100 million year-on-year, better than market expectations. The market's main focus, adjusted net profit was 1.29 billion, down nearly 500 million from the same period last year (the decline was larger than operating profit, mainly due to lower SBC expenses this quarter). Although it is clearly not good in absolute terms, it is still much better than the market expectation of 1 billion adjusted profit. 2) In terms of operating indicators, this quarter the transaction volume of existing homes and new homes grew 6% and declined 14% year-on-year, respectively. The transaction situation of existing homes was consistent with market expectations, but new homes were worse. As policy benefits nearly fade and gradually enter last year's high base period, the real estate transaction situation is generally within the expected range of poor performance. 3) In terms of monetization, since the monetization rate of existing homes and new homes is still declining year-on-year, the revenue growth rate of both businesses is negative (in line with market expectations). However, from a quarter-on-quarter perspective, the monetization rate has actually stabilized and rebounded, which is not a bad news. Similarly, although the contribution gross profit margin of new home and existing home businesses (calculated by contribution profit/GTV) also declined year-on-year, it was generally stable from a quarter-on-quarter perspective. 4) Among other businesses, the housing rental business performed well, partially offsetting the decline in performance of core traditional businesses. This quarter, rental income continued to grow significantly by 45% year-on-year, much better than expected. Meanwhile, the contribution gross profit margin of the rental business also continued to rise slightly by 0.3 percentage points quarter-on-quarter, offsetting the year-on-year decline in core business profits. $KE(BEKE.US) $BEKE-W(02423.HK)

The following is the $KE(BEKE.US) FY25 Q2 earnings call minutes. For earnings interpretation, please refer to the article &#34;贝壳: The Real Estate Market Cools Again, Can Beijing and Shanghai's 'Relaxation of Purchase Restrictions' Turn the Tide?&#34; 1. Review of Key Financial Information 1. Shareholder Return Plan: As of the end of June 2025, the company has repurchased $2 billion worth of shares, accounting for approximately 10.3% of the total outstanding shares before the repurchase plan began. The Board of Directors has approved an increase in the authorization amount for the new share repurchase plan to $5 billion, with an extension planned until August 31, 2028...

BEKE (Minutes): Will eliminate and optimize inefficient stores and agents in Beijing and Shanghai

$KE(BEKE.US) announced its Q2 2025 earnings before the U.S. stock market opened on the evening of August 26. Overall, the performance was relatively mediocre, with revenue growth slowing as expected and profits slightly underperforming expectations, lacking any standout features. Specifically: 1. In terms of large numbers, due to the renewed cooling of the domestic real estate market in the second quarter, Beike's total revenue growth rate declined to 11% year-on-year, which was completely in line with expectations. The new home and innovative business segments performed relatively well, but the existing home business was weaker. However, in terms of profits, although the profit margin improved compared to the previous quarter, market expectations were higher, as the gross margin was 1 percentage point lower than expected...

BEKE: The real estate market cools again, can Beijing and Shanghai's 'relaxation of purchase restrictions' turn the tide?

CT-BEKE@EC2604A(20506.HK)

Gao Yi Asset's US stock holdings exposed, increasing positions in PDD, KE, and others

The Hang Seng Index quarterly review reveals that CATL, LAOPU GOLD, and CMOC have turned blue, increasing the number of blue-chip stocks to 90

In the "Quarterly Review," the Hang Seng China Enterprises Index includes BEKE-W and HORIZONROBOT-W while excluding CHINA RES BEER and Mengniu Dairy

CITIC International raised KE's target price to $21.8, expecting a profit recovery this year