5月15日周四盘前，贝壳（BEKE）股价大跌5.54%。这一跌幅出现在公司发布2025年第一季度财报之后。
财报显示，贝壳一季度业绩表现亮眼，总交易额同比增长34.0%至8437亿元，净收入同比增长42.4%至233亿元，均优于市场预期。然而，公司毛利率从去年同期的25.2%下降至20.7%，主要由于存量房业务净收入占比下降及固定成本上升。这可能引发了投资者对公司盈利能力的担忧。
此外，贝壳在AI技术方面的持续投入也可能影响短期盈利。公司表示将坚定投入AI技术研发及应用，以提升服务效率。尽管这有利于长期发展，但可能增加近期成本支出。综合来看，尽管业绩增长强劲，投资者似乎更关注公司短期盈利能力下滑的问题，导致股价出现明显回调。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.