Beike Reports Q4 Revenue of RMB 22.2B
Reports Q4 revenue RMB22.2B vs. RMB31.1B last year. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, commented, "In 2025, in response to the profound evolution of residential service demands, we centered our efforts on customer value and drove a strategic upgrade toward efficiency-driven growth. In our home transaction services, we leveraged data and AI capabilities to reshape our service and business models, consistently enhancing the platform's professional service competencies and operational efficiency. In our home renovation and furnishing and home rental services, we focused on improving the quality of profitability and establishing sustainable, replicable operating models, bringing both businesses into a healthier stage of development. Looking ahead, we believe that the true ability to navigate market cycles stems not from scale itself, but from the capacity to consistently create genuine value for consumers. In 2026, we will respond more profoundly to customer needs, building systematic service capabilities that span the residential lifecycle. Meanwhile, we will leverage AI technology to reconstruct our competitive moats, further amplifying the professional value of service providers and platform efficiency, and ultimately elevating the living experience for consumers through higher-quality services," concluded Mr. Peng.
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- Governance Enhancement: In 2025, Beike reinforced its governance framework by incorporating key ESG metrics into executive performance evaluations, linking the remuneration of the Chairman and core management directly to climate-related targets, thereby enhancing accountability for sustainable value creation.
- Service Quality Improvement: The company launched its
- AGM Announcement: KE Holdings will hold its annual general meeting on June 12, 2026, at 3:00 PM Beijing time, aimed at reviewing and passing proposed resolutions, reflecting the company's commitment to shareholder engagement and transparency.
- Voting Rights Clarification: Shareholders of ordinary shares and American depositary shares as of May 12, 2026, are entitled to attend and vote, ensuring comprehensive participation in corporate governance and enhancing shareholder trust and engagement.
- Financial Report Filing: The company has filed its annual report on Form 20-F, including audited financial statements for the fiscal year ended December 31, 2025, demonstrating its commitment to compliance and transparency, which is crucial for bolstering investor confidence.
- Information Access: KE Holdings provides AGM notices and related documents on its website, facilitating information access for shareholders, which underscores the company's focus on disclosure and can enhance its corporate image and shareholder satisfaction.
- Price Range Analysis: The VXUS ETF has a 52-week low of $55.3211 per share and a high of $84.28, with the latest trade at $81.22, indicating relative stability in a highly volatile market.
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- Significant Revenue Decline: KE Holdings reported total revenue of RMB 23.3 billion in Q4 2025, down 28.7% year-on-year, indicating severe market challenges that may negatively impact investor confidence moving forward.
- Sharp Net Profit Drop: GAAP net profit fell to RMB 323 million, an 85.7% year-on-year decline, while non-GAAP net profit decreased by 61.5% to RMB 517 million, reflecting pressure from one-off expenses related to cost optimization that affected overall profitability.
- Business Structure Adjustment: The company achieved a record 41% revenue share from non-housing construction, demonstrating successful diversification despite a 36.7% decline in overall GTV, while an optimized cost structure enhanced profit elasticity.
- Shareholder Return Plan: KE Holdings announced a cash dividend plan of approximately USD 300 million for 2025, with total shareholder returns expected to reach around USD 1.22 billion, a year-on-year increase of about 9%, indicating a commitment to shareholder interests even in adversity.
- Dividend Declaration: KE Holdings has declared a final cash dividend of $0.276 per ADS, payable on April 24, reflecting the company's financial stability and commitment to shareholder returns.
- Record Date for Shareholders: The record date for this dividend is set for April 8, with the ex-dividend date also on April 8, ensuring that eligible shareholders receive their dividends promptly, which may enhance investor confidence.
- Total Dividend Amount: The aggregate dividend payout is approximately $0.3 billion, funded by the company's cash surplus, indicating KE Holdings' strong cash flow and effective financial management.
- Market Reaction Expectations: With the dividend announcement, market interest in KE Holdings may increase, prompting investors to reassess the stock's attractiveness, potentially impacting its price performance.
- Disappointing Earnings: KE Holdings reported a non-GAAP EPS of $0.07 for Q4, missing expectations by $0.04, indicating ongoing pressure on profitability that may affect investor confidence.
- Significant Revenue Decline: The company's Q4 revenue of $3.2 billion represents a 28.7% year-over-year decrease, falling short of expectations, reflecting weak market demand and intensified competition that could pressure future performance.
- Cash Reserves Status: As of December 31, 2025, the combined balance of cash, cash equivalents, restricted cash, and short-term investments amounted to RMB 55.5 billion (approximately $7.9 billion), providing the company with financial flexibility to navigate market challenges.
- Investor Movements: Baron Emerging Markets Fund added AGRPY and FANDY while exiting GFI and BEKE in Q4, indicating a decline in investor confidence in KE Holdings, which may impact its stock performance.








