Shares of KE Holdings Inc. (NYSE: BEKE), a leading Chinese real estate platform, soared 5.01% in pre-market trading on October 16, 2024, as investors remained optimistic about the company's prospects despite the challenges faced by China's property market.
The pre-market rally comes on the heels of the company's impressive second-quarter results, where it exceeded earnings and revenue estimates. KE Holdings reported a 19.9% year-over-year increase in revenue, driven by growth in its home transaction services, renovation, and rental divisions.
Analysts have highlighted KE Holdings as one of the most promising Chinese stocks, citing the company's ability to enhance its market share in both existing and new home markets. The company's success is attributed to its Agent Cooperation Network (ACN), which has standardized transactions and promoted agent cooperation, as well as its trusted Lianjia brand for property listings.
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