KE Holdings to Face Pressure in Near-to-Medium Term -- Market Talk

Dow Jones

11/12

0358 GMT - KE Holdings could face some business pressure in the near-to-medium term, Morningstar analyst Jeff Zhang says in a research note. The Chinese real-estate company is likely to experience a significant decline in home brokerage gross transaction value in 4Q due to a high base and subdued home-buying sentiment, he says, citing the company's remarks. Morningstar turns more cautious on its growth prospects and reduces 2025-2029 revenue forecasts by 3%-8%. Still, the company could find some support from an improvement in operating margin, which Zhang expects to rise to 7.6% in 2029 from 4.2% in 2024. Morningstar lowers the fair-value estimate on the stock to HK$42.90 from HK$44.20. Shares last traded at HK$43.36. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

November 11, 2025 22:58 ET (03:58 GMT)

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(tracy.qu@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 11, 2025 22:58 ET (03:58 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0287142896.SGD","symbol_name":"Fidelity China Focus A-SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2582343140","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2582343140","pubTimestamp":1762919880,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0358 GMT - KE Holdings could face some business pressure in the near-to-medium term, Morningstar analyst Jeff Zhang says in a research note. 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The Chinese real-estate company is likely to experience a significant decline in home brokerage gross transaction value in 4Q due to a high base and subdued home-buying sentiment, he says, citing the company's remarks. Morningstar turns more cautious on its growth prospects and reduces 2025-2029 revenue forecasts by 3%-8%. Still, the company could find some support from an improvement in operating margin, which Zhang expects to rise to 7.6% in 2029 from 4.2% in 2024. Morningstar lowers the fair-value estimate on the stock to HK$42.90 from HK$44.20. Shares last traded at HK$43.36. 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