KE Holdings Inc. announced its financial results for the 2025 fiscal year. The group achieved net revenue of RMB94.6 billion, representing a 1.2% increase compared to the previous year. Net profit was RMB2.991 billion, a decrease of 26.7% year-on-year. Adjusted net profit stood at RMB5.017 billion, down 30.4% from the prior year.
The Chairman and CEO of KE Holdings Inc. commented on the results, stating, "In 2025, amidst profound shifts in housing service demands, we focused on customer value and strategically upgraded our platform towards efficiency-driven growth. Within our property transaction services, we leveraged data and AI capabilities to reshape our service and business models, continuously enhancing the platform's professional service capabilities and operational efficiency. For our home renovation and home rental services, we concentrated on improving profitability and establishing sustainable, replicable business models, with both segments entering a healthier phase of development."
"Looking ahead, we believe the ability to navigate cycles sustainably stems not from scale itself, but from the capacity to consistently create genuine value for consumers. In 2026, we will respond more deeply to consumer needs, building systemic service capabilities centered around the residential lifecycle. Concurrently, we will utilize AI technology to rebuild our competitive moat, further amplifying the professional value of our service providers and platform efficiency, thereby enhancing the residential experience for consumers with higher-quality services," the Chairman concluded.
The Executive Director and Chief Financial Officer of KE Holdings Inc. further elaborated, "Throughout 2025, we advanced a series of efficiency measures dedicated to optimizing our unit economic model and the company's cost structure, strengthening our operational resilience for the future. Despite a challenging market environment, the company's net revenue for 2025 still achieved a 1.2% year-on-year increase, reaching RMB94.6 billion. Our cost and expense structure also improved; the contribution margin for new home transactions increased by 0.2 percentage points year-on-year in 2025, and the contribution margin for existing home transactions showed a sequential recovery in the fourth quarter. The profitability of our home renovation and rental services continued to improve, with the former seeing a significant narrowing of operating losses and the latter achieving profitability for the full year. Operational efficiency was enhanced, with the ratio of operating expenses to net revenue decreasing by 1.4 percentage points year-on-year in 2025."
"We remain committed to rewarding our shareholders through proactive capital allocation measures. In 2025, the total cost of our share repurchases was approximately $921 million, an increase of about 29% year-on-year. Additionally, we declared a final cash dividend of approximately $300 million. Consequently, our total comprehensive shareholder return for 2025 reached approximately $1.2 billion, an increase of over 9% compared to the previous year."
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