On April 24, KE Holdings Inc. released its 2025 annual report, revealing that company co-founders Peng Yongdong and Shan Yigang had donated the full value of their 2025 restricted shares. The after-tax funds will be used to provide medical security and children's education support for residential industry workers and their families, offer assistance for new graduates, and establish the "Healthy Home KE Guardian Fund."
The report disclosed that Peng Yongdong's total book compensation for 2025 amounted to 235 million yuan, of which 226 million yuan represented the amortization of restricted shares granted during KE's 2022 Hong Kong listing to meet compliance requirements. This amortization amount decreased by 42% year-over-year. According to the accounting-defined vesting arrangement, the five-year amortization period for the restricted shares has entered its mid-to-late stage.
Yesterday marked KE's corporate anniversary day, when the "Healthy Home KE Guardian Fund" officially launched and opened its application channel. KE has already distributed one-to-one exclusive guardian cards to over 500,000 KE, Lianjia employees, and industry workers.
On the same day, two service providers completed the application and approval process and received 20,000 yuan in critical illness funds. One Beijing-based worker was diagnosed with non-Hodgkin lymphoma in March and remains hospitalized. The other service provider from Chengdu Lianjia qualified for both the "Home Warmth Support Fund" and the "Children's Education Fund" in addition to the critical illness coverage. The remaining 180,000 yuan in guardian funds is under review and expected to be disbursed within 10 business days. It's reported that over ten industry workers have recently submitted applications.
According to public information, this marks Peng Yongdong's second donation within a year. In April 2025, Peng announced the donation of 9 million Class A ordinary shares of KE. After fulfilling corresponding tax obligations, 50% of the funds will support medical and health benefits for residential industry workers and their families, while the other 50% will assist recent graduates with rental support. This represented Peng's first stock sale since KE's 2020 US listing, with all proceeds directed to donations. Previously, Peng had never sold, transferred, or otherwise disposed of his actual KE shareholdings.
The "Healthy Home KE Guardian Fund" comprises three sub-programs. The "Life Emergency Fund" provides 20,000 yuan within two business days for sudden critical illness diagnoses upon complete documentation. Unlike traditional insurance reimbursement models, this emergency fund focuses on "life rescue," offering immediate support to families in crisis. The other two programs provide safety nets for special circumstances: the "Home Warmth Support Fund" offers a one-time 100,000 yuan grant for workers completely disabled or meeting specific family criteria; beneficiaries with children can also receive one-time education support ranging from 20,000 to 100,000 yuan based on their children's school age through the "Children's Education Fund," helping families overcome difficulties.
The program benefits over 500,000 industry workers, including eligible brand owners, store proprietors, agents, cleaners, and maintenance personnel. This initiative complements KE's internal "Green Plan," launched in 2008 to provide critical illness support for KE service providers and their families. In 2025, the Green Plan distributed 117 million yuan in assistance funds, benefiting 9,782 individuals, averaging one family receiving aid per hour. The annual funding gap of 10.8376 million yuan was fully covered by company executives. Between 2021 and 2025, cumulative subsidies from KE Group, KE, and Lianjia executives and senior employees exceeded 112 million yuan.
Despite complex market conditions in 2025, KE maintained stable operations with net revenues of 94.6 billion yuan, representing 1% year-over-year growth. Net profit reached 2.99 billion yuan, with adjusted net profit at 5.02 billion yuan. Secondary home transaction volume increased 11% year-over-year, reaching record highs, while non-property transaction business proportion rose to 41%. Home renovation and furnishing revenue reached 15.4 billion yuan, and rental business achieved full-year profitability.
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