Buy Or Sell Opportunity • Jul 20
Now 22% undervalued Over the last 90 days, the stock has risen 7.3% to €14.70. The fair value is estimated to be €18.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 5.7%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Jun 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.1% to €13.90. The fair value is estimated to be €17.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 5.7%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Director Michael Wu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 07
KE Holdings Inc. to Report Q1, 2026 Results on May 19, 2026 KE Holdings Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 19, 2026 Announcement • Apr 24
KE Holdings Inc., Annual General Meeting, Jun 12, 2026 KE Holdings Inc., Annual General Meeting, Jun 12, 2026, at 15:00 China Standard Time. Location: no. 2 chuangye road, haidian district, beijing China Announcement • Mar 23
KE Holdings Inc.(NYSE:BEKE) dropped from FTSE All-World Index (USD) KE Holdings Inc.(NYSE:BEKE) dropped from FTSE All-World Index (USD) Announcement • Mar 16
KE Holdings Inc. Announces A Final Cash Dividend on Ordinary Shares and ADS, Payable on or Around April 21, 2026 for Ordinary Shares and on or Around April 24, 2026 of ADS Respectively KE Holdings Inc. announced that its board of directors approved a final cash dividend of USD 0.092 per ordinary share, or USD 0.276 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 8, 2026, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the Dividend to be paid will be approximately USD 0.3 billion, which will be funded by cash surplus on the Company’s balance sheet. For holders of ordinary shares, in order to qualify for the Dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 p.m. on April 8, 2026 (Beijing/Hong Kong Time). Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit agreement. The payment date is expected to be on or around April 21, 2026 for holders of ordinary shares and on or around April 24, 2026 for holders of ADSs. Announcement • Mar 05
KE Holdings Inc. to Report Q4, 2025 Results on Mar 16, 2026 KE Holdings Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 16, 2026 Announcement • Nov 22
Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the KE Holdings Securities Litigation Robbins Geller Rudman & Dowd LLP issued statement regarding the KE Holdings Securities Litigation. Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiff Saskatchewan Healthcare Employees’ Pension Plan, on behalf of itself and all members of the proposed Settlement Class, and KE Holdings and Colleen A. De Vries (the “KE Holdings Defendants”), and Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and China Renaissance Securities (US) Inc. (the “Underwriter Defendants” and, together with the KE Holdings Defendants, “Defendants”), have reached a proposed settlement of the claims in the above-captioned class action (the “Action”) in the amount of $4,950,000 (the “Settlement”). A hearing will be held before the Honorable Gregory H. Woods on February 27, 2026, at 10:00 a.m., in Courtroom 12C of the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007 (the “Settlement Hearing”) to determine whether the Court should: approve the proposed Settlement as fair, reasonable, and adequate; dismiss the Action with prejudice as provided in the Stipulation of Settlement, dated September 8, 2025; approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the “Net Settlement Fund”) to Settlement Class Members; and approve Lead Counsel’s Fee and Expense Application. The Court may change the date of the Settlement Hearing without providing another notice. Any objections to the proposed Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than February 6, 2026. Announcement • Nov 11
KE Holdings Inc. Announces Unaudited Impairment of Goodwill, Intangible Assets and Other Long-Lived Assets for the Three Months Ended September 30, 2025 KE Holdings Inc. announced unaudited Impairment of goodwill, intangible assets and other long-lived assets for the three months ended September 30, 2025. For the quarter, the company reported impairment of goodwill, intangible assets and other long-lived assets of USD 11,873,000. Announcement • Oct 28
KE Holdings Inc. to Report Q3, 2025 Results on Nov 10, 2025 KE Holdings Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 10, 2025 Announcement • Aug 14
KE Holdings Inc. to Report Q2, 2025 Results on Aug 26, 2025 KE Holdings Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 26, 2025 Announcement • Apr 30
KE Holdings Inc. to Report Q1, 2025 Results on May 15, 2025 KE Holdings Inc. announced that they will report Q1, 2025 results on May 15, 2025 Announcement • Apr 17
KE Holdings Inc., Annual General Meeting, Jun 13, 2025 KE Holdings Inc., Annual General Meeting, Jun 13, 2025, at 10:00 China Standard Time. Location: no. 2 chuangye road, haidian district, beijing China Announcement • Mar 20
KE Holdings Inc. announces Annual dividend, payable on April 25, 2025 KE Holdings Inc. announced Annual dividend of USD 0.3600 per share payable on April 25, 2025, ex-date on April 09, 2025 and record date on April 09, 2025. Announcement • Mar 18
KE Holdings Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2024 KE Holdings Inc. reported impairment charges for the fourth quarter ended December 31, 2024. For the quarter, the company reported impairment of goodwill, intangible assets and other long-lived assets of RMB 738,683,000 against RMB 533,620,000 a year ago. Announcement • Mar 05
KE Holdings Inc. to Report Q4, 2024 Results on Mar 18, 2025 KE Holdings Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 18, 2025 Announcement • Nov 08
KE Holdings Inc. to Report Q3, 2024 Results on Nov 21, 2024 KE Holdings Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 21, 2024 Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €19.10, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the Real Estate industry in Germany. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €28.13 per share. Buy Or Sell Opportunity • Oct 02
Now 25% undervalued Over the last 90 days, the stock has risen 34% to €18.70. The fair value is estimated to be €24.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has grown by 63%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (7.0% average weekly change). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €14.70, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Real Estate industry in Germany. Total returns to shareholders of 4.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €26.39 per share. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: CN¥1.67 (vs CN¥1.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥1.67 (up from CN¥1.10 in 2Q 2023). Revenue: CN¥23.4b (up 20% from 2Q 2023). Net income: CN¥1.89b (up 45% from 2Q 2023). Profit margin: 8.1% (up from 6.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 13
KE Holdings Inc. Reports Impairment Charges for the Second Quarter Ended June 30, 2024 KE Holdings Inc. reported impairment charges for the second quarter ended June 30, 2024. For the quarter, the company reported impairment of goodwill, intangible assets and other long-lived assets of RMB 36,397,000 against RMB 32,775,000 a year ago. Announcement • Jul 31
KE Holdings Inc. to Report Q2, 2024 Results on Aug 12, 2024 KE Holdings Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 12, 2024 New Risk • Jun 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €5.5m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (176% cash payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€5.5m sold). New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (176% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. New Risk • May 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (177% cash payout ratio). Large one-off items impacting financial results. Announcement • May 12
KE Holdings Inc. to Report Q1, 2024 Results on May 23, 2024 KE Holdings Inc. announced that they will report Q1, 2024 results Pre-Market on May 23, 2024 Announcement • Apr 28
KE Holdings Inc., Annual General Meeting, Jun 14, 2024 KE Holdings Inc., Annual General Meeting, Jun 14, 2024, at 10:00 China Standard Time. Location: Oriental Electronic Technology Building, No. 2 Chuangye Road Haidian District Beijing Province China Agenda: To receive, consider, and adopt the audited consolidated financial statements of the company as of and for the year ended December 31, 2023 and the report of the auditors thereon; to re-elect Mr. Yongdong Peng as an executive Director; to re-elect Mr. Yigang Shan as an executive Director; to re-elect Mr. Jun Wu as an independent non-executive Director; to authorize the Board to fix the remuneration of the Directors; and to discuss other matters. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: CN¥5.01 (vs CN¥1.17 loss in FY 2022) Full year 2023 results: EPS: CN¥5.01 (up from CN¥1.17 loss in FY 2022). Revenue: CN¥77.8b (up 28% from FY 2022). Net income: CN¥5.88b (up CN¥7.27b from FY 2022). Profit margin: 7.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 28
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 04 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.6%). New Risk • Mar 15
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 2.5% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Significant insider selling over the past 3 months (€1.9m sold). Announcement • Mar 15
KE Holdings Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2023 KE Holdings Inc. reported impairment charges for the fourth quarter ended December 31, 2023. For the quarter, the company reported impairment of goodwill, intangible assets and other long-lived assets of RMB 55,441,000 against RMB 71,813,000 a year ago. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: CN¥5.01 (vs CN¥1.17 loss in FY 2022) Full year 2023 results: EPS: CN¥5.01 (up from CN¥1.17 loss in FY 2022). Revenue: CN¥77.8b (up 28% from FY 2022). Net income: CN¥5.88b (up CN¥7.27b from FY 2022). Profit margin: 7.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Mar 14
KE Holdings Inc. Approves Final Cash Dividend on Ordinary Shares and ADS, Payable on or around April 19, 2024 and on or around April 24, 2024 Respectively KE Holdings Inc. announced that its board of directors has approved a final cash dividend of $0.117 per ordinary share, or $0.351 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 5, 2024, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the Dividend to be paid will be approximately $0.4 billion, which will be funded by cash surplus on the Company’s balance sheet. Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit agreement. The payment date is expected to be on or around April 19, 2024 for holders of ordinary shares, and on or around April 24, 2024 for holders of ADSs. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €13.50, the stock trades at a forward P/E ratio of 21x. Average trailing P/E is 31x in the Real Estate industry in Germany. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €18.93 per share. Announcement • Mar 05
KE Holdings Inc. to Report Q4, 2023 Results on Mar 14, 2024 KE Holdings Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 14, 2024 Buying Opportunity • Jan 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €17.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Recent Insider Transactions • Jan 07
CFO & Executive Director recently sold €990k worth of stock On the 2nd of January, Tao Xu sold around 200k shares on-market at roughly €4.95 per share. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Tao has been a net seller over the last 12 months, reducing personal holdings by €6.2m. Announcement • Nov 10
KE Holdings Inc. Provides Revenue Guidance for the Fourth Quarter of 2023 KE Holdings Inc. provided revenue guidance for the fourth quarter of 2023. For the quarter, the company expects total net revenues to be between RMB18.0 billion (USD 2.47 billion) and RMB18.5 billion (USD 2.54 billion), representing an increase of approximately 7.5% to 10.5% from the same quarter of 2022. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: CN¥0.99 (vs CN¥0.61 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.99 (up from CN¥0.61 in 3Q 2022). Revenue: CN¥17.8b (up 1.2% from 3Q 2022). Net income: CN¥1.16b (up 60% from 3Q 2022). Profit margin: 6.5% (up from 4.1% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Buying Opportunity • Nov 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.3%. The fair value is estimated to be €17.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 11% in the next 2 years. Announcement • Oct 28
KE Holdings Inc. to Report Q3, 2023 Results on Nov 08, 2023 KE Holdings Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 08, 2023 Buying Opportunity • Oct 19
Now 21% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be €17.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 11% in the next 2 years. Announcement • Oct 12
KE Holdings Inc. agreed to acquire Kongjian Zhihui Decoration (Beijing) Co., Ltd. for CNY 1.5 billion KE Holdings Inc. (NYSE:BEKE) agreed to acquire Kongjian Zhihui Decoration (Beijing) Co., Ltd. for CNY 1.5 billion on October 10, 2023. Reported Earnings • Sep 01
Second quarter 2023 earnings released: EPS: CN¥1.10 (vs CN¥1.57 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥1.10 (up from CN¥1.57 loss in 2Q 2022). Revenue: CN¥19.5b (up 41% from 2Q 2022). Net income: CN¥1.31b (up CN¥3.18b from 2Q 2022). Profit margin: 6.7% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • Aug 22
KE Holdings Inc. to Report Q2, 2023 Results on Aug 31, 2023 KE Holdings Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 31, 2023 Announcement • Jul 26
KE Holdings Inc. Appoints Mr. Wangang Xu as Vice Chairman of the Board The board of directors of KE Holdings Inc. announced that Mr. Wangang Xu ("Mr. Xu"), an executive director of the Company, has been appointed as the vice chairman of the Board, effective from July 25, 2023. Announcement • Jul 13
KE Holdings Inc. Announces Management Changes On July 12, 2023, KE Holdings Inc. announced that the Company proposed to appoint Mr. Wangang Xu ("Mr. Xu"), an executive director of the Company, as the vice chairman of the board of directors of the Company (the "Board"), subject to the approval of the Board. Mr. Xu will also be appointed as the chief executive officer of Beihaojia business segment of the Company and continue to serve as the executive director of the Company. Mr. Xu will no longer hold the position of the chief operating officer of the Company (the "Chief Operating Officer"), effective from July 12, 2023. The responsibilities of the Chief OperatingOfficer will be undertaken by the heads of relevant business segments of the Company. New Risk • Jul 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Significant insider selling over the past 3 months (€0 sold). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €15.50, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 10x in the Real Estate industry in Germany. Total returns to shareholders of 5.4% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €8.51 per share. Announcement • May 19
KE Holdings Inc. Provides Revenue Guidance for the Second Quarter of 2023 KE Holdings Inc. provides revenue guidance for the second quarter of 2023. For the period, the company expects total net revenues to be between RMB18.5 billion (USD 2.7 billion) and RMB19.0 billion (USD 2.8 billion), representing an increase of approximately 34.3% to 37.9% from the same quarter of 2022. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: CN¥2.32 (vs CN¥0.52 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥2.32 (up from CN¥0.52 loss in 1Q 2022). Revenue: CN¥20.3b (up 62% from 1Q 2022). Net income: CN¥2.75b (up CN¥3.36b from 1Q 2022). Profit margin: 14% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 22% decline forecast for the Real Estate industry in Germany. Announcement • May 09
KE Holdings Inc. to Report Q1, 2023 Results on May 18, 2023 KE Holdings Inc. announced that they will report Q1, 2023 results at 9:30 AM, US Eastern Standard Time on May 18, 2023 Reported Earnings • Mar 17
Full year 2022 earnings released: CN¥1.17 loss per share (vs CN¥0.44 loss in FY 2021) Full year 2022 results: CN¥1.17 loss per share (further deteriorated from CN¥0.44 loss in FY 2021). Revenue: CN¥60.7b (down 25% from FY 2021). Net loss: CN¥1.39b (loss widened 165% from FY 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: CN¥0.61 (vs CN¥1.50 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.61 (up from CN¥1.50 loss in 3Q 2021). Revenue: CN¥17.6b (down 2.8% from 3Q 2021). Net income: CN¥723.2m (up CN¥2.49b from 3Q 2021). Profit margin: 4.1% (up from net loss in 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Announcement • Dec 01
KE Holdings Inc. Provides Revenue Guidance for the Fourth Quarter of 2022 KE Holdings Inc. provided revenue guidance for the fourth quarter of 2022. For the fourth quarter of 2022, the Company expects total net revenues to be between RMB 14.5 billion (USD 2.0 billion) and RMB 15.0 billion (USD 2.1 billion), representing a decrease of approximately 15.7% to 18.5% from the same quarter of 2021. This forecast considers the potential impact of the recent real estate related policies and measures, the increased reported cases of COVID-19 in certain regions and the tentative corresponding restrictive measures, all of which remain uncertain and may continue to adversely affect the Company’s operations. Therefore, the Company’s ongoing and preliminary view are contingent on the business situation and market condition. Announcement • Nov 17
KE Holdings Inc. to Report Q3, 2022 Results on Nov 30, 2022 KE Holdings Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 30, 2022 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Michael Jun was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Oct 13
CFO & Executive Director recently sold €1.7m worth of stock On the 4th of October, Tao Xu sold around 100k shares on-market at roughly €17.36 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Tao has been a net seller over the last 12 months, reducing personal holdings by €3.5m. Announcement • Sep 02
KE Holdings Inc. Announces Change of Joint Company Secretary The board of directors of KE Holdings Inc. announced that due to other work commitments, Mr. Matthew Huaxia Zhao ("Mr. Zhao") has tendered his resignation as a joint company secretary of the Company (the "Joint Company Secretary") with effect from September 1, 2022. The Board also announces that Ms. Siting Li ("Ms. Li") has been appointed as a Joint Company Secretary with effect from September 1, 2022 (the "Appointment of Ms. Li"), and Ms. Lau Yee Wa ("Ms. Lau"), the other Joint Company Secretary, will continue to act as Joint Company Secretary. Ms. Li, the Joint Company Secretary and the senior manager of the investor relationship department of the Company, joined the Company in June 2018. Prior to joining the Company, she lastly served as the senior investment manager at Nanshan Group Capital Investment Co. Ltd. from 2013 to 2018. She also has experiences in strategy and management consulting. Ms. Li obtained a master's degree from The London School of Economics and Political Science. Reported Earnings • Aug 24
Second quarter 2022 earnings released: CN¥1.57 loss per share (vs CN¥0.95 profit in 2Q 2021) Second quarter 2022 results: CN¥1.57 loss per share (down from CN¥0.95 profit in 2Q 2021). Revenue: CN¥13.8b (down 43% from 2Q 2021). Net loss: CN¥1.87b (down 268% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 15% compared to a 47% decline forecast for the Real Estate industry in Germany. Announcement • Aug 24
KE Holdings Inc. Provides Revenue Guidance for the Third Quarter of 2022 KE Holdings Inc. provided revenue guidance for the third quarter of 2022. For the quarter, the company expects total net revenues to be between RMB 16.5 billion (USD 2.5 billion) and RMB 17.0 billion (USD 2.5 billion), representing a decrease of approximately 6.1% to 8.8% from the same quarter of 2021. Announcement • Aug 10
KE Holdings Inc. to Report Q2, 2022 Results on Aug 23, 2022 KE Holdings Inc. announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Aug 23, 2022 Buying Opportunity • Jul 14
Now 22% undervalued Over the last 90 days, the stock is up 6.8%. The fair value is estimated to be €18.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last year. Meanwhile, the company became loss making. Revenue is forecast to decline by 5.6% in a year. Earnings is forecast to grow by 77% in the next year. Announcement • Jul 01
KE Holdings Inc., Annual General Meeting, Aug 12, 2022 KE Holdings Inc., Annual General Meeting, Aug 12, 2022, at 11:00 China Standard Time. Location: Oriental Electronic Technology Building, No. 2 Chuangye Road Haidian District Beijing China Agenda: To pass of the Class-based Resolution at the Class A Meeting and Class B Meeting, the Memorandum and Articles of Association be amended and restated by their deletion in their entirety and by the substitution in their place of the Amended Memorandum and Articles in the form as set out in Part A of Appendix I to the Circular, by incorporating the Class-Based Resolution and the Non-Class-Based Resolution and THAT the Board be authorized to deal with on behalf of the Company the relevant filing and amendments (where necessary) procedures and other related issues arising from the amendments to the Memorandum and Articles; and to consider other matters. Buying Opportunity • Jun 14
Now 23% undervalued Over the last 90 days, the stock is up 44%. The fair value is estimated to be €16.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last year. Meanwhile, the company became loss making. Revenue is forecast to decline by 5.4% in a year. Earnings is forecast to grow by 74% in the next year. Reported Earnings • Jun 01
First quarter 2022 earnings released: CN¥0.52 loss per share (vs CN¥0.90 profit in 1Q 2021) First quarter 2022 results: CN¥0.52 loss per share (down from CN¥0.90 profit in 1Q 2021). Revenue: CN¥12.5b (down 39% from 1Q 2021). Net loss: CN¥618.0m (down 158% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 10% compared to a 43% decline forecast for the industry in Germany. Announcement • Jun 01
KE Holdings Inc. Provides Revenue Guidance for the Second Quarter of 2022 KE Holdings Inc. provided revenue guidance for the second quarter of 2022. For the quarter, company expects total net revenues to be between RMB 10.0 billion (USD 1.6 billion) and RMB 10.5 billion (USD 1.7 billion), representing a decrease of approximately 56.6% to 58.6% from the same quarter of 2021. Announcement • May 20
KE Holdings Inc. to Report Q1, 2022 Results on May 31, 2022 KE Holdings Inc. announced that they will report Q1, 2022 results Pre-Market on May 31, 2022 Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Jun Wu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 21
KE Holdings Inc. (NYSE:BEKE) completed the acquisition of Shengdu Home Renovation Co., Ltd. KE Holdings Inc. (NYSE:BEKE) and one of its Hong Kong subsidiaries entered into a definitive agreement to acquire Shengdu Home Renovation Co., Ltd. from its shareholders for CNY 8 billion on July 5, 2021. Under the terms of transaction, KE Holdings will pay consideration of CNY 8 billon consisting of cash and equity, subject to a staggered acquisition arrangement. The upfront acquisition will be for certain equity interests of the Target. The acquisition of the remaining equity interests of the Target, as a next step, will be subject to satisfaction of certain performance target criteria and other customary closing conditions. The consideration to be paid in connection with the acquisition of the remaining equity interests will be subject to pre-agreed price adjustment mechanisms. The transaction is subject to customary closing conditions, including regulatory approvals. The transaction is currently expected to close in the first half of 2022. Ross Warner of The Piacente Group, Inc. acted as advisor in the transaction.
KE Holdings Inc. (NYSE:BEKE) completed the acquisition of Shengdu Home Renovation Co., Ltd. on April 20, 2022. Announcement • Mar 29
KE Holdings Inc. Announces Board and Committee Changes KE Holdings Inc. announced the appointment of Mr. WU Jun as an independent director of its board of directors. The Board also appointed Mr. WU as the chairperson of the compensation committee of the Board and a member of the audit committee and nominating and corporate governance committee of the Board. Ms. CHEN Yu will no longer serve as an independent director of the Board after her current term expires, which was also based on her career pursuit and did not result from any disagreement with the Company. These changes will be effective on March 29, 2022. Mr. WU is the founder and has been serving as the chairman of the board of Beijing Radium Lab Technology Co. Ltd. since 2018. He is a co-founder of Beijing Wisdon Technology Co. Ltd. where he joined in 2017. Mr. WU has served as an independent non-executive director of Beijing Evercare Medical Technology Group Co. Ltd. since July 2021. Buying Opportunity • Mar 15
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 56%. The fair value is estimated to be CN¥11.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% per annum over the last 3 years. The company became loss making over the last year. Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: CN¥0.44 loss per share (down from CN¥0.97 profit in FY 2020). Revenue: CN¥80.8b (up 15% from FY 2020). Net loss: CN¥524.1m (down 173% from profit in FY 2020). Revenue exceeded analyst estimates by 2.5%. Over the next year, revenue is expected to shrink by 1.3% compared to a 24% decline forecast for the industry in Germany. Announcement • Feb 26
KE Holdings Inc. to Report Q4, 2021 Results on Mar 09, 2022 KE Holdings Inc. announced that they will report Q4, 2021 results After-Market on Mar 09, 2022 Announcement • Feb 24
The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of KE Holdings Inc. Investors The Law Offices of Frank R. Cruz announced that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired KE Holdings Inc. American depository shares (ADS) between August 13, 2020 and December 16, 2021, inclusive (Class Period). KE Holdings investors have until February 28, 2022 to file a lead plaintiff motion. On December 16, 2021, Muddy Waters Research released a report alleging multiple problems with KE Holdings, stating that the Company is "engaged in systemic fraud," and that its research showed that KE Holdings was overstating the agents and stores on its platforms; its gross transaction value ("GTV"); and its revenues, among other wrongdoing. On this news, KE Holdings' share price fell $0.37, or 1.98%, to close at $18.31 per share on December 16, 2021, thereby injuring investors. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: inflated the Company's GTV; inflated the Company's revenues; inflated the number of stores and agents using the Company's platform; and that, as a result, of the foregoing, defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Announcement • Jan 04
Gainey Mckenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against KE Holdings, Inc Gainey McKenna & Egleston announced that a class action lawsuit has been filed against KE Holdings Inc. (“KE Holdings”) in the United States District Court for the Southern District of New York on behalf of investors who purchased KE Holdings’ common stock between December 8, 2020 and November 24, 2021, both dates inclusive (the “Class Period”). The Complaint alleges that the Company materially overstated its store count, agent counsel, new home sales gross transaction value (“GTV”), and revenues. The Complaint alleges that Defendants made materially false and misleading statements and omissions and engaged in a scheme to deceive the market. The truth began to come to light when Muddy Waters Capital LLC, a research-based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings’ ADSs and operated as a fraud or deceit on the Class. When the truth was revealed, the Company’s ADS price fell substantially and has continued falling since. Investors who purchased or otherwise acquired shares of KE Holdings should contact the Firm prior to the February 28, 2022lead plaintiff motion deadline. Announcement • Dec 31
Robbins LLP Files Securities Fraud Lawsuit Against KE Holdings, Inc Robbins LLP announced that it filed a class action lawsuit on December 30, 2021, in the U.S. District Court for the Southern District of New York (the "Court") on behalf of all persons who purchased or otherwise acquired KE Holdings Inc. ("KE Holdings") securities between August 13, 2020 and December 16, 2021 (the "Class Period") against the Company, its Chairman of the Board, and Executive Director, for among other things, violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and Exchange Commission Rule 10b-5, promulgated thereunder. The complaint seeks relief on behalf of the named plaintiff and all other similarly situated holders of KE Holdings' ADSs during the Class Period. The named plaintiff is represented by Robbins LLP. The action arises out of the Company's misstatements materially overstating its store count, agent counsel, new home sales gross transaction value ("GTV"), and revenues. The complaint alleges that defendants made materially false and misleading statements and omissions, and engaged in a scheme to deceive the market. The truth began to come to light when Muddy Waters Capital LLC, a research based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings' ADSs and operated as a fraud or deceit on the Class. When the truth was revealed, the Company's ADS price fell substantially and has continued falling since. Reported Earnings • Nov 09
Third quarter 2021 earnings released: CN¥1.50 loss per share (vs CN¥0.33 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: CN¥18.1b (down 12% from 3Q 2020). Net loss: CN¥1.76b (loss widened CN¥1.49b from 3Q 2020). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €16.70, the stock trades at a forward P/E ratio of 59x. Average forward P/E is 11x in the Real Estate industry in Germany. Total loss to shareholders of 72% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €13.81 per share. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 15% share price gain to €15.90, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 10x in the Real Estate industry in Germany. Total loss to shareholders of 69% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €16.80 per share. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €13.90, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 12x in the Real Estate industry in Germany. Total loss to shareholders of 71% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €15.01 per share. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improved over the past week After last week's 16% share price gain to €17.00, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 12x in the Real Estate industry in Germany. Total loss to shareholders of 57% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €16.04 per share. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS CN¥0.93 (vs CN¥4.25 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥24.2b (up 20% from 2Q 2020). Net income: CN¥1.11b (down 48% from 2Q 2020). Profit margin: 4.6% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Announcement • Aug 12
KE Holdings Inc. Provides Earnings Guidance for the Third Quarter of 2021 KE Holdings Inc. provided earnings guidance for the third quarter of 2021. For the third quarter of 2021, the company expects total net revenues to be between RMB 14.5 billion (USD 2.2 billion) and RMB 15.5 billion (USD 2.4 billion), representing a decrease of approximately 24.6% to 29.4% from the same quarter of 2020. This forecast considers the potential impact of the recent real estate related policies and measures, and the Company’s current and preliminary view on the business situation and market condition, which is subject to change. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 37% share price decline to CN¥19.40, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 12x in the Real Estate industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €26.64 per share. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥33.60, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 12x in the Real Estate industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €26.15 per share. Announcement • Jul 07
KE Holdings Inc. (NYSE:BEKE) and one of its Hong Kong subsidiaries entered into a definitive agreement to acquire Shengdu Home Renovation Co., Ltd. from its shareholders for CNY 8 billion. KE Holdings Inc. (NYSE:BEKE) and one of its Hong Kong subsidiaries entered into a definitive agreement to acquire Shengdu Home Renovation Co., Ltd. from its shareholders for CNY 8 billion on July 5, 2021. Under the terms of transaction, KE Holdings will pay consideration of CNY 8 billon consisting of cash and equity, subject to a staggered acquisition arrangement. The upfront acquisition will be for certain equity interests of the Target. The acquisition of the remaining equity interests of the Target, as a next step, will be subject to satisfaction of certain performance target criteria and other customary closing conditions. The consideration to be paid in connection with the acquisition of the remaining equity interests will be subject to pre-agreed price adjustment mechanisms. The transaction is subject to customary closing conditions, including regulatory approvals. The transaction is currently expected to close in the first half of 2022. Ross Warner of The Piacente Group, Inc. acted as advisor in the transaction. Executive Departure • May 27
Founder Hui Zuo has left the company On the 20th of May, Hui Zuo's tenure in the role of Founder ended. As of March 2021, Hui personally held 459.59m shares (€22b worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • May 21
First quarter 2021 earnings released: EPS CN¥0.89 (vs CN¥3.92 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥20.7b (up 191% from 1Q 2020). Net income: CN¥1.06b (up CN¥2.98b from 1Q 2020). Profit margin: 5.1% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Announcement • May 21
KE Holdings Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2021 KE Holdings Inc. provided earnings guidance for the second quarter of fiscal 2021. For the second quarter of 2021, the Company expects total net revenues to be between RMB 22.5 billion (USD 3.4 billion) and RMB 23.5 billion (USD 3.6 billion), representing an increase of approximately 11.7% to 16.7% from the same quarter of 2021. This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change. Executive Departure • Apr 15
Co-Chief Operating Officer has left the company On the 5th of April, Yongqun Wang's tenure as Co-Chief Operating Officer ended after 2.9 years in the role. We don't have any record of a personal shareholding under Yongqun's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Apr 09
Full year 2020 earnings released: EPS CN¥0.97 (vs CN¥8.82 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥70.5b (up 53% from FY 2019). Net income: CN¥720.5m (up CN¥4.77b from FY 2019). Profit margin: 1.0% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Executive Departure • Mar 31
Independent Director has left the company On the 29th of March, Fan Bao's tenure as Independent Director ended after 2.3 years in the role. We don't have any record of a personal shareholding under Fan's name. Fan is the only executive to leave the company over the last 12 months. 
