UOB Kay Hian Lowers BEKE-W Rating to Hold and Reduces Target Price to HKD39
Operating Revenue Performance: BEKE-W (02423.HK) reported a 2% YoY increase in 3Q25 operating revenue to RMB23.1 billion, aligning with market expectations, despite a 28% YoY decrease in non-GAAP net profit to RMB1.3 billion.
Forecast Adjustments: UOB Kay Hian has revised its forecasts, predicting an 18% YoY decline in adjusted net profit for 4Q25 to RMB1.1 billion and lowering operating revenue estimates for 4Q25 and 2026 by 25% and 18%, respectively.
Rating Downgrade: Due to a challenging macroeconomic environment, UOB Kay Hian downgraded BEKE-W's rating to Hold and reduced its target price from HKD60 to HKD39.
Market Activity: The stock experienced short selling of $52.74 million, with a short selling ratio of 17.044%, indicating significant market activity around BEKE-W.
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UBS: Premature to Declare Stabilization in China's Property Market; New Home Sales Continue to Struggle
Market Reaction: Chinese developers saw an average increase of 8% due to reports of a potential relaxation of the "Three Red Lines" policy and a recovery in second-hand home transactions, alongside stable home prices in major cities.
Caution on Stability: UBS cautioned that it is premature to declare the market stabilized, emphasizing the need for further observation of actual trading data post-Chinese New Year.
Sentiment vs. Reality: The recent uptick in second-hand property transactions is viewed as a reaction to policy shifts rather than a sign of genuine market recovery, supported by the People's Bank of China and the Ministry of Finance.
Weak New Home Sales: Despite the positive sentiment, new home sales remain weak, indicating ongoing challenges in the Chinese property market.
Guosen Securities Reveals Top 10 HK Stocks with Highest Foreign Capital Inflows and Outflows in Q4 2025 (Table)
Top Inflows: Guosen Securities reported the top ten Hong Kong stocks with the largest foreign capital inflows in 4Q25, led by INNOVENT BIO with an inflow of HKD6.43 billion.
Top Outflows: The report also highlighted the top ten stocks with the largest foreign capital outflows, with XIAOMI-W experiencing the highest outflow of HKD50.41 billion.
Short Selling Data: The report included short selling data for each stock, indicating significant short selling activity, particularly for XIAOMI-W and HSBC HOLDINGS.
Market Trends: The report reflects ongoing trends in the Hong Kong stock market, with notable shifts in foreign investment and short selling strategies among major companies.
BofA Securities' Updated Ratings and Price Targets for Chinese Internet Stocks (Table)
Stock Performance: Several stocks showed positive movements, with BABA-W increasing by 3.5% and ALI HEALTH by 3.3%, while BIDU-SW and JD HEALTH experienced declines of 1.4% and 1.2%, respectively.
Short Selling Data: Notable short selling activity was observed, particularly in BIDU-SW with a ratio of 28.7% and ALI HEALTH at 25.4%, indicating significant market interest in these stocks.
UBS Lowers BEKE-W (02423.HK) Price Target to $47.5 Amid Ongoing Market Share Decline
UBS Research Report: UBS reassessed BEKE-W (02423.HK), noting a decline in market share in China's major cities, although the rate of decline has slowed compared to previous quarters.
Market Trends: The physical market remains weak, with home prices in major cities dropping by 1.7% month-over-month in November, prompting a moderate policy response from the Central Economic Work Conference.
Earnings Forecasts: UBS lowered its earnings forecasts for BEKE-W for 2026-2027 by 4-5% due to reduced revenue expectations.
Target Price Adjustments: UBS cut its target price for BEKE-W's US stock from $19 to $18 and for its H-shares from $48 to $47.5, maintaining a Neutral rating.
BEKE-W Drops Over 4% at Midday; Chairman Peng Yongdong Sells Shares to Honor Donation Pledge
BEKE-W Stock Performance: BEKE-W (02423.HK) experienced a decline of 4.34%, settling at HK$42.8 after hitting a low of HK$42.3, with a turnover of HK$209 million.
Peng Yongdong's Share Sale: Peng Yongdong, co-founder and CEO of Beike, sold shares to meet a donation commitment, marking his first sale since the company's US listing in 2020.
China Vanke's Investment Update: CHINA VANKE (02202.HK) announced that it has sold all its shares in Beike, responding to investor inquiries.
Short Selling Data: BEKE-W had significant short selling activity, with a ratio of 25.239% and a total of $52.78 million in short sales.
CHINA VANKE Sells Off Entire Stake in KE Holdings
CHINA VANKE's Share Sale: CHINA VANKE has confirmed it sold all its shares in KE Holdings but did not provide details on the timing or financial outcomes of the sale.
Short Selling Activity: The company is experiencing significant short selling, with a reported $19 million in short sales and a ratio of 21.309%.
UBS: Premature to Declare Stabilization in China's Property Market; New Home Sales Continue to Struggle
Market Reaction: Chinese developers saw an average increase of 8% due to reports of a potential relaxation of the "Three Red Lines" policy and a recovery in second-hand home transactions, alongside stable home prices in major cities.
Caution on Stability: UBS cautioned that it is premature to declare the market stabilized, emphasizing the need for further observation of actual trading data post-Chinese New Year.
Sentiment vs. Reality: The recent uptick in second-hand property transactions is viewed as a reaction to policy shifts rather than a sign of genuine market recovery, supported by the People's Bank of China and the Ministry of Finance.
Weak New Home Sales: Despite the positive sentiment, new home sales remain weak, indicating ongoing challenges in the Chinese property market.
Guosen Securities Reveals Top 10 HK Stocks with Highest Foreign Capital Inflows and Outflows in Q4 2025 (Table)
Top Inflows: Guosen Securities reported the top ten Hong Kong stocks with the largest foreign capital inflows in 4Q25, led by INNOVENT BIO with an inflow of HKD6.43 billion.
Top Outflows: The report also highlighted the top ten stocks with the largest foreign capital outflows, with XIAOMI-W experiencing the highest outflow of HKD50.41 billion.
Short Selling Data: The report included short selling data for each stock, indicating significant short selling activity, particularly for XIAOMI-W and HSBC HOLDINGS.
Market Trends: The report reflects ongoing trends in the Hong Kong stock market, with notable shifts in foreign investment and short selling strategies among major companies.
BofA Securities' Updated Ratings and Price Targets for Chinese Internet Stocks (Table)
Stock Performance: Several stocks showed positive movements, with BABA-W increasing by 3.5% and ALI HEALTH by 3.3%, while BIDU-SW and JD HEALTH experienced declines of 1.4% and 1.2%, respectively.
Short Selling Data: Notable short selling activity was observed, particularly in BIDU-SW with a ratio of 28.7% and ALI HEALTH at 25.4%, indicating significant market interest in these stocks.
UBS Lowers BEKE-W (02423.HK) Price Target to $47.5 Amid Ongoing Market Share Decline
UBS Research Report: UBS reassessed BEKE-W (02423.HK), noting a decline in market share in China's major cities, although the rate of decline has slowed compared to previous quarters.
Market Trends: The physical market remains weak, with home prices in major cities dropping by 1.7% month-over-month in November, prompting a moderate policy response from the Central Economic Work Conference.
Earnings Forecasts: UBS lowered its earnings forecasts for BEKE-W for 2026-2027 by 4-5% due to reduced revenue expectations.
Target Price Adjustments: UBS cut its target price for BEKE-W's US stock from $19 to $18 and for its H-shares from $48 to $47.5, maintaining a Neutral rating.
BEKE-W Drops Over 4% at Midday; Chairman Peng Yongdong Sells Shares to Honor Donation Pledge
BEKE-W Stock Performance: BEKE-W (02423.HK) experienced a decline of 4.34%, settling at HK$42.8 after hitting a low of HK$42.3, with a turnover of HK$209 million.
Peng Yongdong's Share Sale: Peng Yongdong, co-founder and CEO of Beike, sold shares to meet a donation commitment, marking his first sale since the company's US listing in 2020.
China Vanke's Investment Update: CHINA VANKE (02202.HK) announced that it has sold all its shares in Beike, responding to investor inquiries.
Short Selling Data: BEKE-W had significant short selling activity, with a ratio of 25.239% and a total of $52.78 million in short sales.
CHINA VANKE Sells Off Entire Stake in KE Holdings
CHINA VANKE's Share Sale: CHINA VANKE has confirmed it sold all its shares in KE Holdings but did not provide details on the timing or financial outcomes of the sale.
Short Selling Activity: The company is experiencing significant short selling, with a reported $19 million in short sales and a ratio of 21.309%.
