Gelonghui, November 13 | According to Guoxin Securities Research Report, maintaining the shell-W (2423.HK) “buy” rating, the adjusted net profit for 2023-25 is expected to be 88/82/83 billion yuan, and earnings per share are 2.34/2.18/2.21 yuan. The company's Q3 performance remained stable, stock housing income was basically stable, the new housing business contracted due to the impact of the market environment, and revenue from the home improvement and rental housing business increased. As of the end of 2023Q3, the company had 43,000 stores, +4% year on year, flat month on month; 429,000 agents, +7% year on year and -1% month on month. The share of active stores and brokers was 95% and 93%, respectively, both down slightly from month to month. The 2023Q3 mobile monthly mobile app had 49.2 million monthly active users, +16% over the same period and +2% over the previous month. Buyers' attention is still increasing, but the wait-and-see sentiment is heavy.