中信建投指出，新房、家装、租赁业务主要推动了贝壳营收的增长，增收不增利主要由于综合毛利率较上年同期下降4.7个百分点至22.7%，这是因为利润率更高的存量房业务在营收中的占比由去年同期的35.4%下降至27.5%。9月底以来地产支持政策频出，二手房与新房市场成交提升明显，门店与经纪人增长背景下，政策效果将在四季度业绩中体现。KE Holdings (02423) fell by nearly 4%, as of the time of publication, it dropped by 3.1%, closing at HKD 48.45 with a turnover of 11.6081 million Hong Kong dollars.
According to the Zhixingtong Finance APP, KE Holdings (02423) fell by nearly 4%, as of the time of publication, it dropped by 3.1%, closing at HKD 48.45 with a turnover of 11.6081 million Hong Kong dollars.
On the news front, KE Holdings previously released its performance for 2024 Q3, with the company achieving a GTV transaction volume of 736.8 billion yuan, a year-on-year increase of 12%, a quarter-on-quarter decrease of 12%; revenue of 22.6 billion yuan, a year-on-year increase of 27%, a quarter-on-quarter decrease of 3%. On the profit side, in 2024 Q3, the company achieved an adjusted net income attributable to shareholders of 1.8 billion yuan, a year-on-year decrease of 17%, a quarter-on-quarter decrease of 34%; adjusted net margin of 7.9%, gross margin of 23%, both declined year-on-year.
China Securities Co.,Ltd. pointed out that new housing, home decoration, and leasing businesses mainly drove the revenue growth of KE Holdings. The increase in revenue without an increase in profit is mainly due to a 4.7 percentage point decrease in comprehensive gross margin to 22.7% compared to the same period last year, as the proportion of higher profit margin existing housing business in revenue decreased from 35.4% in the same period last year to 27.5%. Since the end of September, real estate support policies have been frequent, with obvious increases in transactions in the second-hand and new housing markets, against the backdrop of store and broker growth, the policy effects will be reflected in the performance in the fourth quarter.
