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    HX Chen

    Research Analyst at China International Capital Corporation

    HX Chen serves as an analyst at China International Capital Corporation specializing in equity research with a focus on coverage of major listed Chinese companies. Chen has developed a strong performance track record, contributing to research that has earned the CICC Fixed-income Research Team a top-ranking in notable industry awards and recognition for their high-quality analysis and market insight. With a career begun at CICC and potential prior experience at other financial institutions, Chen has been continuously dedicated to supporting institutional investors and providing strategic sector recommendations. Chen holds relevant professional credentials in securities analysis and demonstrates expertise recognized in sector awards and industry rankings.

    HX Chen's questions to KE Holdings (BEKE) leadership

    HX Chen's questions to KE Holdings (BEKE) leadership • Q2 2024

    Question

    HX Chen inquired about the real estate market's reaction to recent supportive policies, the performance divergence between new and existing homes, the sustainability of transaction volumes, and the outlook for the second half of 2024.

    Answer

    CEO Yongdong Peng explained that Q2 saw a steady, month-by-month market improvement, particularly in existing home transactions following the May 17 policy changes. He noted a strong rebound in Tier 1 cities, driven by relaxed restrictions and improved affordability, which attracted more first-time buyers. Peng highlighted that the new home market recovery is slower due to factors like diminished price advantages and a mismatch in supply. For H2 2024, he anticipates stabilization but noted that buyer wait-and-see sentiment could constrain a full recovery, with policy changes remaining a key variable.

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