BEKE: Positive On BEKE’s 2024 Outlook and 2Q24 Performance As China’s Housing Market Is Showing Signs of Modest Recovery Supported By Policies
We are positive on BEKE’s 2024 outlook supported by the stimulating policies at both State and local levels. The overall housing sector has begun to stabilize. We are also positive about the company’s 2Q24 performance as our data indicates that China's housing market has shown signs of modest recovery, primarily driven by the secondary market. While secondary home sales have increased since early 2024, new home sales have declined at a slower pace. Once the prices stabilize, we are expecting more transactions, which benefits BEKE.
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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