BEKE-W (02423) surged over 6%, reaching HK$46.24 by the time of writing, with a trading volume of HK$447 million. The company recently reported its Q3 performance, achieving a total transaction volume (GTV) of RMB736.7 billion, a 2.1% YoY increase in net revenue to RMB23.1 billion, and a net profit of RMB747 million. Adjusted net profit stood at RMB1.286 billion.

Bank of America Securities noted that BEKE's Q3 revenue of RMB23.1 billion aligned with market consensus, while adjusted net profit of RMB1.3 billion exceeded expectations. Both its home renovation and rental businesses have begun generating significant profits. Zhongtai Securities highlighted that BEKE's Q3 2025 buyback amounted to $281 million, marking the highest quarterly buyback in nearly two years.

By the end of Q3 2025, the company had repurchased $675 million year-to-date, up 15.7% YoY. Since initiating buybacks in September 2022, BEKE has repurchased approximately $2.3 billion in total, accounting for 11.5% of its pre-buyback outstanding shares. The expanded buyback scale reflects management's confidence in future growth and commitment to enhancing shareholder returns.