KE Holdings Inc (NYSE:BEKE)

Q2 2025 Ke Holdings Inc Earnings Call (Chinese, English) Transcript

Aug 26, 2025 / 12:00PM GMT

Release Date Price: $18.58 (-1.28%)

Transcript

Key Points

Positve

KE Holdings Inc (BEKE) reported a year-over-year increase of 4.7% in total GTV, reaching RMB878.7 billion.
Net revenue for Q2 2025 increased by 11.3% year over year, totaling RMB26 billion.
The home renovation and furniture business achieved a revenue increase of 13% year over year, driven by higher home renovation orders.
The home rental services business saw a significant revenue growth of 78% year over year, reaching RMB5.7 billion.
KE Holdings Inc (BEKE) expanded its share repurchase program to USD5 billion, demonstrating a commitment to shareholder returns.

Negative

Gross margin declined by 6 percentage points year over year to 21.9%.
GAAP net income fell by 31.2% year over year to RMB1.31 billion.
Non-GAAP net income decreased by 32.4% year over year, reaching RMB1.82 billion.
The contribution margin for new home transaction services declined by 7.5 percentage points year over year to 39.9%.
The real estate market experienced a slowdown in Q2 2025 due to international trade friction and the impact of early policy measures.

Operator

Hello, ladies and gentlemen. Thank you for standing by for KE Holdings, Inc.'s second-quarter 2025 earnings conference call. (Operator Instructions) Today's conference call is being recorded.

I will now turn the call over to your host, Ms. Siting Li, IR Director of the company. Please go ahead.

Siting Li

Ke Holdings Inc - Joint Company Secretary

Thank you, operator. Good evening, and good morning, everyone. Welcome to KE Holdings Inc. or Beike's second-quarter 2025 earnings conference call. The company's financial and operating results were published in the press release earlier today and are posted on the company's IR website, investors.ke.com.

On today's call, we have Mr. Stanley Peng, our Co-Founder, Chairman, and Chief Executive Officer; and Mr. Tao Xu, our Executive Director and Chief Financial Officer. Mr. Xu will provide an overview of our business updates and financial performance. Then Mr. Peng will share more strategic thinking on our current and future developments.

Before I continue, I refer you to our Safe Harbor

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.