Daiwa's research report states that it maintains a Buy rating on Ke Holdings W. Due to high fixed cost of Lianjia storefronts, the company's earnings per share forecast for 2024 to 2026 is lowered by 1% to 5%. Based on weak market sentiment, the forecast price-to-earnings ratio is reduced from 23 times to 21 times, and the target price is reduced by 12%, from HK$65 to HK$57. Ke Holdings' second-quarter profits exceeded expectations, benefiting from the significant contribution of profits from stock homes, home improvements, and furnishings. The third quarter is also benefiting from strict cost control. The company is optimistic about its profit guidance. The company also announced an expansion of its share buyback program. The bank expects the total shareholder return rate for the year to be at least 7%, and there is potential for a dividend announcement. Stimulating domestic real estate policies and further expansion in the Shanghai and Beijing markets are also important catalysts for its stock price.