In today’s briefing:
- Quiddity Leaderboard CSI Medical Jun25: Three ADDs/DELs Likely; >2x ADV to Trade for Most Names
- [KE Holdings (BEKE US, BUY, TP US$25) Earnings Review]: Housing Inventory Resolution Drives Recovery
Quiddity Leaderboard CSI Medical Jun25: Three ADDs/DELs Likely; >2x ADV to Trade for Most Names
- The CSI Medical Index represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical themes in China.
- In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in June 2025.
- We expect up to three ADDs and three DELs in June 2025 based on the latest available data (where 90% of the reference period is complete).
[KE Holdings (BEKE US, BUY, TP US$25) Earnings Review]: Housing Inventory Resolution Drives Recovery
- Beike reported C4Q24 revenue beat our estimate/consensus by 8.4%/7.4%, non-GAAP OP miss our estimate/consensus by 37.5%/21.6%, due to front-loading expansion cost.
- We expect Beike to take 2-3ppt of market share in a rebalancing property market in 2025.
- We keep the stock as BUY and keep TP at US$25.
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