BEKE: Positive On 3Q23 Earnings But Neutral On Grim Outlook Of China’s Property Market
BEKE will report 3Q23 results on November 8th before the markets open with a 7am ET conference call. We are positive on its 3Q23 earnings, but we are neutral on its long-term outlook. Based on our data and assumptions, BEKE revenue is likely to increase 45.6% Y/Y to RMB17.8B in 3Q23E, slightly better than consensus at RMB17.5B. However, 4Q23 revenue consensus seems to be high as the company may have to lower its monetization rates.
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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