HK Stock Market Move | BEKE-W(02423) falls more than 5% in early trading, Chairman Peng Yongdong sells stock for the first time to fulfill donation pledge.

BEKE-W (02423) fell more than 5% in early trading, dropping 4.96% as of the time of writing to 42.52 Hong Kong dollars, with a trading volume of 1.85 billion Hong Kong dollars. On the news front, on December 9, the latest disclosure of documents in the U.S. stock market showed that Peng Yongdong, co-founder, chairman, and CEO of Beike, sold shares to fulfill previous donation commitments. This is Peng Yongdong's first sale of shares since Beike's U.S. stock listing in 2020. In addition, Vanke recently responded on an interactive platform to investor questions, stating that the company has already sold all of its shares in Beike. It is worth noting that Beike previously released its performance data, with total transaction value (GTV) in the third quarter reaching 736.7 billion yuan, net revenue increasing by 2.1% to 23.1 billion yuan, net profit of 747 million yuan, and adjusted net profit of 1.286 billion yuan. Bank of America Securities stated that Beike's third quarter revenue was 23.1 billion yuan, a 2% year-on-year increase in line with market expectations; adjusted net profit of 1.3 billion yuan, exceeding expectations; and both home decoration and leasing businesses began to generate significant profits.