On July 11, the stock opened more than 6% higher. As of press time, it had risen 6.29% to HKD 81.95, with a turnover of 0.23 billion Hong Kong dollars.$BEKE-W (02423.HK)$As of press time, it rose more than 5%, up 5.24% to 41.2 Hong Kong dollars, with a turnover of 16.5469 million Hong Kong dollars.

According to Ke Rui's monitoring, in terms of existing homes, Beijing, Shanghai, Guangzhou, and Shenzhen each have a transaction volume of 1.365 million square meters, 1.974 million square meters, 1.059 million square meters, and 414,000 square meters in June, respectively. The month-on-month growth rates were 12%, 38%, 45%, and 4%, respectively, while the year-on-year growth rates were 25%, 89%, 27%, and 41%. According to data monitored by the Zhuge Data Research Center, second-hand homes in 14 key cities had a transaction volume of 119,470 in June, an increase of 11.19% month-on-month and 27.89% year-on-year, with double-digit growth rates both on a month-on-month and year-on-year basis.

Dongxing Securities pointed out that the demand in core cities, especially first-tier cities, has been boosted, leading to a narrowing of the sales decline in June. Due to the low base in July last year, it is expected that the sales decline in July will continue to narrow. In the short term, we believe that April was the low point of policy and sentiment, and the current policy strength and industry fundamentals have improved significantly compared with April. In the medium and long term, we believe that the recovery of the market depends on the first-tier cities to recover first. The continuous improvement of the core city market will be bullish for high-quality real estate developers and intermediaries in the layout of first- and second-tier cities.