China’s Perseverance Asset Management bought 659,849 shares of KE Holdings, totaling $12.54 million. The company’s top five holdings include NASDAQ: HTHT, PDD, GOOGL, NYSE: RLX, and NASDAQ: NTES. KE Holdings’ stock price sits at $16.22, down 12% from last year, underperforming the S&P 500’s 15% increase.

Perseverance Asset Management International disclosed its new position in KE Holdings, acquiring 659,849 shares valued at $12.54 million. The company’s top five holdings include NASDAQ: HTHT, PDD, GOOGL, NYSE: RLX, and NASDAQ: NTES. KE Holdings operates an integrated platform for housing transactions and services.

KE Holdings, a leading real estate services provider in China, connects buyers, sellers, and agents through its Beike and Lianjia platforms. The company reported $3.2 billion in net revenue in Q3, with a net income of $105 million. KE Holdings focuses on efficiency and scale in the competitive housing market.

Perseverance Asset Management’s investment in KE Holdings reflects a strategic move towards a stable platform generating cash amid market fluctuations. KE Holdings’ strong balance sheet and share buybacks contribute to its resilience. This deliberate stake aligns with the fund’s focus on scalable and survivable investments in China.

Perseverance Asset Management’s stake in KE Holdings highlights a deliberate move towards a stable platform in a cyclical downturn. KE Holdings’ strategic positioning in China’s housing market, coupled with its financial strength and restructuring efforts, make it an attractive investment for patient investors.

Read more at Yahoo Finance: Why One Fund Made a $12.5 Million Bet on KE Holdings Despite a 12% One-Year Stock Slide