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<Research>Citi Initiates 30-Day Upside Catalyst Watch on BEKE-W as 2nd-Hand Home Transactions Improve
Citi has issued a research report initiating a 30-day upside catalyst watch on BEKE-W (02423.HK). Seeing that the company's share price underwent an adjustment in March, the br...
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<Research>Citi Initiates 30-Day Upside Catalyst Watch on BEKE-W as 2nd-Hand Home Transactions Improve
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Citi has issued a research report initiating a 30-day upside catalyst watch on BEKE-W (02423.HK)  -0.260 (-0.637%)    Short selling $92.35M; Ratio 28.777%   . Seeing that the company's share price underwent an adjustment in March, the broker based its decision on investors' misunderstandings regarding the company's new business model and pricing structure, market share, antitrust investigation, and the impact of AI, as well as the improved second-hand home transactions reported in core cities in March and early April.

According to the report, second-hand home transactions in Tier-1 cities grew by 1% YoY in March and have increased by 29% YoY since April. Citi is positive on the second-hand home transactions beating expectations, the total transaction value of first-hand home sales outrunning market expectations (a 40% YoY decline), operating expense savings from AI deployment, and profit contribution from home renovation and rental businesses.

Related News M Stanley Cuts TP on Select CN Home Developers, Expects Sector to Remain Under Pressure in 2Q26
Citi has kept a Buy rating on BEKE-W, with a target price of HKD68.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-10 16:25.)

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