贝壳-W(2423.HK):经纪为核根基深厚 三翼齐飞行以致远

平安证券
Jun 10, 2025

领先的线上线下一体化房产交易服务平台。贝壳2001 年通过北京链家开始经营业务,2018 年推出线上线下一体化平台,2020 年纽交所上市,2022年返港完成两地上市。公司确立“一体三翼”战略方向,以房产经纪为主体(含存量房交易、新房交易),同步驱动整装、惠居、贝好家三翼赛道协同发展,2024 年存量房及新房业务收入占比66.2%、贡献利润占比73.5%。2024 年总交易额3.3 万亿元,净收入...

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