$BEKE-W (02423.HK)$An increase of 4.56%, priced at 65.35 HKD, with a transaction volume of 0.498 billion HKD.

In terms of news, $BEKE-W (02423.HK)$ The performance for the three months ending December 31, 2024, will be announced on March 18. Changjiang Securities released a Research Report indicating that the company's market share is steadily increasing, and the operating leverage amplifies the profit elasticity. Objectively speaking, by 2030, there is still room for improvement in the total GTV of new and second-hand homes in the Industry, but the growth may be relatively limited. The real growth point of KE Holdings' main business comes from the potential for increasing its market share, with a second-hand house and new house GTV market share of 28.6% and 9.7%, respectively, in 2023.

The firm believes that, considering competitive advantages, relative scarcity, potential performance elasticity, and the incremental funds after access, the company should enjoy a certain valuation premium in the short term. From a medium to long-term perspective, there is still room for improvement in the brokerage business share, with home decoration and rental potentially contributing to growth. Data assets possess significant value elasticity, and the company is classified as a strategic allocation variety.

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