BEKE Positive On BEKE’s 4Q23 Earnings, But China’s Property Market Remains Grim
BEKE will report 4Q23 results on March 14th before the markets open with an 8am ET conference call. We are positive on the company’s 4Q23 earnings but neutral on 1Q24 and its long-term outlook. Based on our data and assumptions, BEKE revenue is likely to increase 13.9% Y/Y to RMB19.07B in 4Q23E, slightly better than consensus at RMB18.8B. However, 1Q24 consensus revenue seems to be aggressive.
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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