MB-BEKE@EC2704A

UNI HEALTH

QUANTGROUP

AE LOGISTICS

XUNCE

KINTOR PHARMA-B

XunZhong

ILUVATAR COREX

HP LIVING TECH

NANFANG COMM

ZHAOWEI

02423

515060

159940

BEKE

159768

159707

512200

KE Holdings Inc. has been added to the Hang Seng China Enterprises Index, which may influence investor allocations and attention. The company is set to release its unaudited Q4 and full-year 2025 results on March 16, 2026. While index inclusion may enhance visibility and liquidity, it does not significantly alter exposure to housing and regulatory risks. Analysts project revenue of CN¥136.4 billion and earnings of CN¥8.6 billion by 2028, with some optimistic estimates reaching CN¥152.6 billion in revenue. Investors should consider dilution risks and incentive overhang when assessing the stock's potential.

Simplywall

BEKE-W

ChinaAMC CSI All Share Real Estate ETF

GF CSI All Share Financials ETF

Yinhua CSI Interior Real Estate Theme ETF

Hwabao WP CSI 800 Real Estate ETF

China Southern CSI All Share Real Estate ETF

How Investors Are Reacting To KE Holdings (BEKE) Joining the Hang Seng China Enterprises Index

Athos Capital Ltd has acquired a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE), purchasing 2,500,000 shares valued at approximately $47.5 million, making it the largest holding in its portfolio at 30.1%. Other institutional investors have also increased their stakes in KE. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $22.40. KE Holdings operates a technology-driven real estate services platform in mainland China.

Market Beat

Athos Capital Ltd Takes $47.50 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

REET

XLRE

GQRE

SCHH

KE Holdings, Inc. has scheduled a board meeting for March 16, 2026, to review its unaudited financial results for Q4 and the full year 2025, and to consider a potential final dividend. This decision may impact shareholder returns and reflect management's confidence in the company's financial health. An earnings conference call will also be held on the same day, providing transparency to global investors. The latest analyst rating for KE Holdings (HK:2423) is a Buy with a price target of HK$57.00.

Tip Ranks

iShares US Real Estate ETF

SPDR Dow Jones Global Real Estate ETF

iShares Global REIT

Vanguard Real Estate ETF

Real Est Select Spdr

FlexShares Glbl Quality Real Estate ETF

iShares Residential and Multisector Real Estate ETF

Schw Us Reit

KE Holdings Sets March 16 Board Meeting to Review 2025 Results and Possible Dividend

03690

688223

01810

The NASDAQ Golden Dragon China Index initially closed down 1.1%. Among popular Chinese concept stocks, Kingsoft Cloud fell 4.9%, ZAI LAB and Xiaomi fell 4.1%, while WeRide, Meituan, Vipshop, and GDS had the highest declines of 3.6%. Jinko Solar rose 2.1%, BEKE rose 2.2%, BYD rose 5%, Qifu Technology rose 5.8%, and Douyu rose 7.2%

Wallstreetcn

MEITUAN

Jinko Solar

XIAOMI-W

Xiaomi Corporation

Meituan

BYD COMPANY

NASDAQ Golden Dragon China Index

GDS-SW

BYD Company

ZAI LAB

Krne Csi China Internet

iShares MSCI China

Invesco Golden Dragon China

Roundhill China Dragons ETF

000300

510330

160218

510300

After the implementation of Shanghai's "Seven Policies," the market quickly heated up. On February 25, the number of viewings for second-hand houses surged by 122% month-on-month, while the number of viewings for new houses increased by 106%. The new policies focus on loosening purchase restrictions, raising housing provident fund limits, and expanding property tax coverage, effectively activating both rigid demand and improvement demand. The policies took effect on February 26, aiming to lower the threshold for home purchases and reduce housing costs. Market activity has significantly increased, and home buying demand has been effectively released

CSI 300

ChinaAMC CSI 300 ETF

Guotai Guozheng Real Estate Industry Index Fund-A

Huatai-PB CSI 300 ETF

The "Seven Policies for Shanghai" have shown effective results: the number of viewings by agents has doubled month-on-month, and some buyers made deposits on the same day as the new policy was announced

00027

GXYYY

Hong Kong shares fell 168 points (0.6%) to 26,602 as traders awaited February PMI data. U.S. futures also slipped amid IMF warnings about the excessive U.S. current account deficit. Despite the city's projected operating surplus for 2026/27 and easing inflation at 1.1%, the tech index declined, with Nvidia's strong results failing to boost sentiment. Consumer stocks weakened due to concerns over post-holiday spending, with notable laggards including KE Holdings (-4.9%) and Galaxy Entertainment (-3.7%).

Trading Economics

GALAXY ENT

Galaxy Entertainment Group

NVIDIA

Hong Kong Market Falls as China PMI Release Nears

09988

89988

HBBD

BABA

02319

CIADY

09868

XPEV

0225 | Dolphin Research Key Watch: 🐬 Macro/Industry 1) Today, Hong Kong Financial Sec. Paul Chan unveiled the FY2026/27 Budget, focused on I&amp;T and finance, with measures to support the AI industry, advance RMB internationalization, improve livelihoods, and develop the Northern Metropolis. On hard tech, the HKSAR Gov. will set up a HK$10 bn I&amp;T Industry Co-investment Fund, targeting strategic areas including life sciences &amp; healthcare, AI and robotics. The Budget projects Hong Kong GDP growth of 2.5%-3.5% in 2026...

HK Budget Ups I&T; META, AMD Seal 100bn-Class Compute Deal | Daily News Recap

---

00914

00005

02600

01208

00100

02513

06809

03986

09660

BEKE-W(02423) rose 5.63%, with a trading turnover 826.8 Million HKD, and a year-to-date rose 12%. CONCH CEMENT(00914) rose 5.53%, with a trading turnover 764.8 Million HKD, and a year-to-date rose 20.9%. MINIMAX-WP(00100) fell 14.38%, with a trading turnover 2.3 Billion HKD, and a year-to-date rose 356.7%. KNOWLEDGE ATLAS(02513) fell 10.75%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 382.4%.

- The Hang Seng Index rose by 0.66%, with a year-to-date increase of 4.4%, while the Hang Seng Tech Index fell by 0.19%, down 4.6% year-to-date.  
- Beike-W (02423) gained 5.63% with a trading volume of HKD 830 million, marking a 12% rise for the year, whereas Conch Cement (00914) increased by 5.53% with a trading volume of HKD 760 million, showing a 20.9% year-to-date gain.  
- MINIMAX-WP (00100) dropped 14.38% on a trading volume of HKD 2.27 billion, yet has surged 356.7% this year, while Zhiyuan (02513) fell 10.75% with a trading volume of HKD 1.68 billion, maintaining a year-to-date increase of 382.4%.

Top Gainers & Losers

CONCH CEMENT

HSBC HOLDINGS

CHALCO

MINIMAX-WP

KNOWLEDGE ATLAS

MONTAGE TECH

GIGADEVICE

HORIZONROBOT-W

Top 5 HK Stock Gainers/Losers (>100B) (2.25)

06181

03993

09987

09927

09980

01913

MINIMAX-WP(00100) rose 24.56%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 413.3%. MONTAGE TECH(06809) rose 14.05%, with a trading turnover 572.0 Million HKD, and a year-to-date rose 97.4%. YUM CHINA(09987) fell 4.58%, with a trading turnover 136.7 Million HKD, and a year-to-date rose 13.1%. SERES(09927) fell 3.2%, with a trading turnover 31.0 Million HKD, and a year-to-date fell 9.5%.

LAOPU GOLD

CMOC

YUM CHINA

SERES

EASTROC

PRADA

Top 5 HK Stock Gainers/Losers (>100B) (2.16)

01179

KPDD

PDDL

Gao Yi Asset's holdings in U.S. stocks, as disclosed in the filings with the U.S. Securities and Exchange Commission for the end of 2025, show that it holds shares in 13 companies with a total market value exceeding $600 million. The focus is on Chinese concept stocks, particularly increasing positions in PDD and KE in the fourth quarter of last year, and newly purchasing shares in Yatsen. The top ten holdings include Huazhu Group, PDD, Google, etc., with Chinese concept stocks dominating. The shareholding in PDD has increased to 1.333 million shares, an increase of 629,000 shares compared to the end of the third quarter of last year

36Kr

Yatsen

HWORLD-S

KraneShares 2x Long PDD Daily ETF

GraniteShares 2x Long PDD Daily ETF

Gao Yi Asset's US stock holdings exposed, increasing positions in PDD, KE, and others

03750

603993

518880

The Hang Seng Index Company announced the latest quarterly review results, with CATL, LAOPU GOLD, and CMOC being included in the Hang Seng Index constituent stocks, increasing the total to 90 stocks, while Zhongsheng Group was removed. In the case of the Hang Seng China Enterprises Index, BEKE and HORIZONROBOT-W were included, while China Resources Beer and Mengniu Dairy were removed, maintaining a total of 50 constituent stocks. There were no changes in the constituent stocks of the Tech Index

Stheadline

CATL

Huaan Yifu Gold ETF

The Hang Seng Index quarterly review reveals that CATL, LAOPU GOLD, and CMOC have turned blue, increasing the number of blue-chip stocks to 90

HSCEI

02828

512690

00291

Hang Seng Indexes Company announced that in the quarterly review results up to December 31, 2025, the Hang Seng China Enterprises Index will add BEKE-W and HORIZONROBOT-W, while removing CHINA RES BEER and Mengniu Dairy. The total number of constituent stocks will remain at 50, and all changes will be implemented after the market closes on March 6, 2026, and will take effect on March 9, 2026

AASTOCKS

Hang Seng China Enterprises Index

HSCEI ETF

Penghua CSI Alcoholic Drink ETF

MENGNIU DAIRY

CHINA RES BEER

Mengniu Dairy

In the "Quarterly Review," the Hang Seng China Enterprises Index includes BEKE-W and HORIZONROBOT-W while excluding CHINA RES BEER and Mengniu Dairy

09888

TCOM

The NASDAQ Golden Dragon China Index initially closed down 2.9%. Among popular Chinese concept stocks, Tencent Music initially closed down 10%, Trip.com fell 6%, KE dropped 5.8%, Bilibili, Baidu, CSI Solar, and YUM China fell over 4%, Alibaba dropped 3.4%, Atour rose 1.2%, and Century Internet rose 3.7%

BIDU-SW

Trip.com

Tencent Music

Global X E-commerce ETF

BABA 2x Long Daily ETF - GraniteShares

Guotai MSCI China A ESG General ETF

YUM China

Baidu

ALI HEALTH

BILIBILI-W

CSI Solar

Alibaba

KraneShares 2x Long BABA Daily ETF

Yinhua MSCI China A ETF

BABA-W

Bilibili

Direxion FTSE China Bull 3X

TRIP.COM-S

TME-SW

CMB International predicts that KE's revenue in the fourth quarter of last year will decline by 28.5% to RMB 22.2 billion, with an expected quarterly non-GAAP net profit of RMB 427 million and a net profit margin of 1.9%. Nevertheless, CMB International is optimistic about KE's technological capabilities and service quality, forecasting that this year's non-GAAP net profit will reach RMB 7 billion, a year-on-year increase of approximately 42%. Therefore, the target price for KE has been raised to $21.8, maintaining a "Buy" rating

WisdomTree New Economy Real Estate Fund

CITIC International raised KE's target price to $21.8, expecting a profit recovery this year

Goldman Sachs published a research report stating that KE-W benefits from policy support boosting investor confidence and the recent strong performance of the second-hand housing market, driving up its stock price. However, the firm believes that due to KE's valuation becoming reasonable after the recent stock price increase, it has downgraded its rating from "Buy" to "Neutral." Additionally, based on earnings revisions and valuation rolling to the end of 2026, the target price for KE has been adjusted to HKD 49, while the target price for KE's U.S. stock has been adjusted to USD 19

Goldman Sachs: KE's valuation has become reasonable, downgraded to "Neutral"

Today’s Key News Recap

Meta Platforms

Kimball Electron

BABA-WR

Alibaba HK SDR 5to1

Unity Software

XPENG-W

XPeng

1111 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. The U.S. Senate has passed a temporary spending bill aimed at ending the longest government shutdown in history, which has lasted for 41 days. The bill now requires approval from the House of Representatives and the President's signature to take effect. This move is a result of bipartisan compromise, providing short-term relief from economic and livelihood impacts, but the core disagreements are merely postponed, with the possibility of another deadlock after January 30th, highlighting the increasing trend of political polarization in the United States. 🐬 Individual Stocks 1. $Baidu(BIDU.US) RoboTaxi has received the first batch of fully unmanned commercial operation licenses issued by the Abu Dhabi Integrated Transport Center...

Intel

Disc Medicine

SIASUN

Morgan Stanley

Integra Group (Russia) Sponsored GDR RegS

Integral Acquisition  1

XPeng surged 17% in a single day; Intel AI Chief jumps ship to OpenAI | Today's Important News Recap

MB-BEKE@EC2704A(26889.HK)

How Investors Are Reacting To KE Holdings (BEKE) Joining the Hang Seng China Enterprises Index

Athos Capital Ltd Takes $47.50 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

KE Holdings Sets March 16 Board Meeting to Review 2025 Results and Possible Dividend

The "Seven Policies for Shanghai" have shown effective results: the number of viewings by agents has doubled month-on-month, and some buyers made deposits on the same day as the new policy was announced