KE Holdings Inc

Latest Results (27.10.2025):

KE Holdings Inc. reported its unaudited financial results for the second quarter of 2025, showcasing a robust increase in gross transaction value and net revenues despite a decline in net income. The company continues to expand its extensive network of stores and agents, reinforcing its position as a leading integrated online and offline platform for housing transactions and services.

Gross Transaction Value Growth

In the second quarter of 2025, KE Holdings Inc. achieved a gross transaction value (GTV) of RMB878.7 billion (US$122.7 billion), marking a 4.7% year-over-year increase. This growth was driven by a 2.2% rise in GTV from existing home transactions, amounting to RMB583.5 billion (US$81.5 billion), and an 8.5% increase in GTV from new home transactions, totaling RMB255.4 billion (US$35.6 billion).

Increase in Net Revenues

The company's net revenues for the second quarter of 2025 rose by 11.3% year-over-year to reach RMB26.0 billion (US$3.6 billion). This increase was primarily fueled by enhanced coverage capabilities in new home transaction services and sustained growth in home renovation, furnishing, and rental services.

Decline in Net Income

KE Holdings Inc. reported a net income of RMB1,307 million (US$182 million) for the second quarter of 2025, reflecting a 31.2% decrease compared to the same period last year. Adjusted net income also saw a decline of 32.4%, totaling RMB1,821 million (US$254 million).

Expansion of Store and Agent Network

As of June 30, 2025, KE Holdings Inc. operated 60,546 stores, a 31.8% increase from the previous year, with 58,664 active stores reflecting a 32.1% growth. Additionally, the number of agents rose to 557,974, up by 21.6%, and active agents reached 491,573, marking a 19.5% increase year-over-year.

Mobile Active Users

The company's mobile monthly active users (MAU) averaged 48.7 million in the second quarter of 2025, slightly down from 49.7 million in the same period of 2024. This metric highlights the platform's strong user engagement and continued importance in the company's service offerings.

Share Repurchase Program

KE Holdings Inc. has upsized and extended its share repurchase program to August 31, 2028, increasing the repurchase authorization from US$3 billion to US$5 billion. As of the end of the second quarter, approximately US$394 million worth of shares were repurchased, representing around 1.7% of the company's total shares outstanding at the end of 2024.