HK Stock Movement | BEKE-W (02423) Drops Over 5% in Early Trading as Chairman Peng Yongdong Makes First Stock Sale to Fulfill Donation Commitment

Stock News12-09 11:34

BEKE-W (02423) fell more than 5% in early trading, declining 4.96% to HK$42.52 by the time of reporting, with a turnover of HK$185 million. According to the latest U.S. stock market filings disclosed on December 9, Peng Yongdong, Co-founder, Chairman, and CEO of KE Holdings Inc., sold shares to fulfill a prior donation pledge. This marks Peng's first stock sale since BEKE's U.S. listing in 2020. Separately, China Vanke recently stated in response to investor inquiries that it has fully divested its holdings in BEKE. Notably, BEKE previously reported Q3 results, with total transaction volume (GTV) reaching RMB736.7 billion, net revenue rising 2.1% to RMB23.1 billion, net profit at RMB747 million, and adjusted net profit at RMB1.286 billion. Bank of America Securities noted that BEKE's Q3 revenue of RMB23.1 billion, up 2% YoY, met market consensus, while adjusted net profit of RMB1.3 billion exceeded expectations, with both home renovation and rental businesses beginning to generate significant profits.

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