BEKE: Housing Market Has Bottomed With Better Traffic In February; Positive Outlook For 2022 Backed By Reversal Of Policies
BEKE will report 4Q21 results on March 9th after the markets close followed by an 8pm EST conference call. We are positive on BEKE’s 2022 outlook. As an agency, BEKE’s stock price is strongly correlated with the Chinese government’s property policies. The tightening policies started from January 2021. As a result, the stock price has been down 75%. However, since December 2021, the government started to loosen its tight control, including: 1) lower mortgage rates for both primary and secondary properties; and 2) shortened the mortgage approval days. Recently, many regional governments came out with more incentive policies to consumers.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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