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ORGANIZATION (Tables) | 12 Months Ended
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Dec. 31, 2025
ORGANIZATION |
Schedule of major subsidiaries and consolidated VIEs (inclusive of the VIEs' subsidiaries) | As of December 31, 2025, the details of the Company’s major subsidiaries and consolidated VIEs (inclusive of the VIEs’ subsidiaries) are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Date of | ​ ​ ​ | ​ | ​ ​ ​ | Percentage of |
​ | ​ | incorporation or | ​ | Place of | ​ | direct or indirect |
Name | ​ | acquisition | ​ | incorporation | ​ | economic ownership | ​
Subsidiaries |  | ​ |  | ​ |  | ​ | ​
Beike Group (Cayman) Limited |  | August 6, 2018 |  | Cayman Islands |  | 100 | %
Beike Finance Holdings (Cayman) Limited |  | August 14, 2018 |  | Cayman Islands |  | 100 | %
Beike Fintech Holdings (Cayman) Limited | ​ | August 14, 2018 | ​ | Cayman Islands | ​ | 100 | %
Beike Investments (Cayman) Limited | ​ | August 6, 2018 | ​ | Cayman Islands | ​ | 100 | %
Shengdu Co., Ltd. | ​ | October 13, 2021 | ​ | Cayman Islands | ​ | 100 | %
Beike Investments (BVI) Limited | ​ | July 12, 2018 | ​ | BVI | ​ | 100 | %
Beike Group (BVI) Limited | ​ | July 12, 2018 | ​ | BVI | ​ | 100 | %
Beike Fintech Holdings (BVI) Limited | ​ | August 15, 2018 | ​ | BVI | ​ | 100 | %
Sharehome HK International Limited |  | December 16, 2016 |  | Hong Kong |  | 100 | %
Beike Kestone Holdings (Hong Kong) Limited |  | August 13, 2018 |  | Hong Kong |  | 100 | %
Shengdu (Hong Kong) Company Limited | ​ | November 8, 2021 | ​ | Hong Kong | ​ | 100 | %
Shanghai Beike Investment Holdings Group Co., Ltd. | ​ | June 6, 2019 | ​ | PRC | ​ | 100 | %
Beixi (Tianjin) Technology Co., Ltd. | ​ | November 21, 2019 | ​ | PRC | ​ | 100 | %
Beike (Tianjin) Investment Co., Ltd. |  | September 29, 2018 |  | PRC |  | 100 | %
Beihan (Tianjin) Technology Co., Ltd. |  | November 27, 2019 |  | PRC |  | 100 | %
Lianjia (Tianjin) Enterprise Management Co., Ltd. |  | August 13, 2018 |  | PRC |  | 100 | %
Beijing Lianjia Zhidi Real Estate Brokerage Co., Ltd. |  | July 25, 2005 |  | PRC |  | 100 | %
Beijing Lianjia Gaoce Real Estate Brokerage Co., Ltd. | ​ | September 20, 2016 | ​ | PRC | ​ | 100 | %
Beijing Haichuan Xingye Real Estate Management Consulting Co., Ltd. | ​ | April 19, 2007 | ​ | PRC | ​ | 100 | %
Deyou Real Estate Agency Co., Ltd. | ​ | September 5, 2002 | ​ | PRC | ​ | 100 | %
Shanghai Xiaoheng Internet Technology Co., Ltd. | ​ | October 30, 2017 | ​ | PRC | ​ | 100 | %
Shanghai Deyou Property Consulting Co., Ltd. | ​ | April 16, 2014 | ​ | PRC | ​ | 100 | %
Sichuan Lianjia Real Estate Brokerage Co., Ltd. | ​ | December 30, 2009 | ​ | PRC | ​ | 100 | %
Ningbo Fangjianghu Internet Technology Co., Ltd. | ​ | July 17, 2018 | ​ | PRC | ​ | 100 | %
Tianjin Haibei Information Technology Co., Ltd. | ​ | September 14, 2018 | ​ | PRC | ​ | 100 | %
Beike Zhaofang (Beijing) Technology Co., Ltd. | ​ | August 3, 2015 | ​ | PRC | ​ | 100 | %
Beike Zhaofang Technology Co., Ltd. | ​ | November 21, 2017 | ​ | PRC | ​ | 100 | %
Beike Technology Co., Ltd. | ​ | June 28, 2017 | ​ | PRC | ​ | 100 | %
Shanghai Haibi Technology Co., Ltd. | ​ | October 25, 2018 | ​ | PRC | ​ | 100 | %
Deyou (Tianjin) Real Estate Brokerage Service Co., Ltd. |  | October 16, 2017 |  | PRC |  | 100 | %
Shanghai Huibeiju Technology Co., Ltd. | ​ | October 27, 2022 | ​ | PRC | ​ | 100 | %
Shanghai Chenhaibei Internet Technology Co., Ltd. | ​ | January 16, 2020 | ​ | PRC | ​ | 100 | %
Beijing Beike Jiaju Technology Co., Ltd. | ​ | September 28, 2016 | ​ | PRC | ​ | 100 | %
Qingdao Shengjia Huazhang Enterprise Management Co., Ltd. | ​ | December 9, 2021 | ​ | PRC | ​ | 100 | %
Beike Meijia Technology (Zhejiang) Co., Ltd. | ​ | November 21, 2022 | ​ | PRC | ​ | 100 | %
Beijing Beiwoo Decoration Co., Ltd. | ​ | January 5, 2022 | ​ | PRC | ​ | 100 | %
Shengdu Home Renovation Co., Ltd. | ​ | April 20, 2022 | ​ | PRC | ​ | 100 | %
Beijing Meichen Information Consulting Co., Ltd. |  | September 6, 2016 |  | PRC |  | 100 | %
Beijing Xinfu Housing Rental Co., Ltd. | ​ | September 5, 2013 | ​ | PRC | ​ | 100 | %
Tianjin Haibei Technology Service Co., Ltd. | ​ | July 14, 2017 | ​ | PRC | ​ | 100 | %
Beike Meijia Zhijia Technology (Zhejiang) Co., Ltd. | ​ | June 24, 2024 | ​ | PRC | ​ | 100 | %
Shanghai Shengyi Investment Management Co., Ltd. | ​ | November 28, 2013 | ​ | PRC | ​ | 100 | %
Beike Meijia Supply Chain Management (Zhejiang) Co., Ltd. | ​ | December 29, 2022 | ​ | PRC | ​ | 100 | %
Beike Shengdu (Zhejiang) Architectural Decoration Engineering Co., Ltd. | ​ | July 31, 2017 | ​ | PRC | ​ | 100 | %
Consolidated VIEs |  | ​ |  | ​ |  | ​ | ​
Beijing Lianjia Real Estate Brokerage Co., Ltd. (“Beijing Lianjia”) (i) |  | September 30, 2001 |  | PRC |  | 100 | %
Beijing Yiju Taihe Technology Co., Ltd. (“Yiju Taihe”) |  | July 23, 2010 |  | PRC |  | 100 | %
Tianjin Xiaowu Information & Technology Co., Ltd. (“Tianjin Xiaowu”) |  | November 14, 2017 |  | PRC |  | 100 | %
Subsidiaries of VIEs |  | ​ |  | ​ |  | ​ | ​
Beijing Zhongrongxin Financing Guarantee Co., Ltd. |  | November 10, 2006 |  | PRC |  | 100 | %
Beijing Ehomepay Technologies Co., Ltd. |  | August 8, 2013 |  | PRC |  | 100 | %
(i) | The Company has 30% direct shareholding in Beijing Lianjia through one of its wholly owned PRC subsidiaries. The Company depends on a series of contractual arrangements to provide its subsidiary with a “controlling financial interest” in the VIEs, as defined in FASB Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”).
Schedule of financial positions of the businesses that currently constitute the VIE entities and the operation results for the years | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2024 | ​ | 2025
​ | ​ ​ ​ | RMB | ​ ​ ​ | RMB
​ | ​ | (in thousands)
ASSETS | ​ | ​ | ​ | ​
Current assets | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 1,739,264 |  | 1,201,262
Restricted cash |  | 5,202,757 |  | 5,605,542
Short‑term investments |  | — |  | 593,183
Financing receivables, net |  | 2,812,597 |  | 1,353,682
Accounts receivable, net |  | 31,061 |  | 37,795
Amounts due from and prepayments to related parties |  | 335,704 |  | 338,044
Prepayments, receivables and other assets |  | 188,222 |  | 179,706
Amounts due from non‑VIE subsidiaries of the Group |  | 1,584,119 |  | 1,718,105
Total current assets |  | 11,893,724 |  | 11,027,319
Non-current assets | ​ | ​ | ​ | ​
Property and equipment, net |  | 65,468 |  | 58,878
Right‑of‑use assets |  | 650 |  | 485
Long‑term investments, net |  | 2,436,087 |  | 2,599,369
Intangible assets, net |  | 19,782 |  | 13,463
Goodwill |  | 7,522 |  | 7,522
Other non‑current assets |  | 44,594 |  | 124,813
Total non‑current assets |  | 2,574,103 |  | 2,804,530
TOTAL ASSETS |  | 14,467,827 |  | 13,831,849
​ | ​ | ​ | ​ | ​
LIABILITIES | ​ | ​ | ​ | ​
Current liabilities | ​ | ​ | ​ | ​
Accounts payable |  | 66,266 |  | 57,987
Amounts due to related parties |  | 322 |  | 463
Employee compensation and welfare payable |  | 374,213 |  | 411,090
Customer deposits payable |  | 4,141,792 |  | 3,369,240
Income taxes payable |  | 35,277 |  | 34,984
Lease liabilities current portion |  | 369 |  | 198
Contract liabilities and deferred revenue |  | 2,785 |  | 2,990
Accrued expenses and other current liabilities |  | 210,085 |  | 109,199
Amounts due to non‑VIE subsidiaries of the Group |  | 6,888,426 |  | 6,911,139
Total current liabilities |  | 11,719,535 |  | 10,897,290
Non-current liabilities | ​ | ​ | ​ | ​
Deferred tax liabilities |  | 2,374 |  | 1,679
Lease liabilities non‑current portion |  | 452 |  | 146
Total non‑current liabilities |  | 2,826 |  | 1,825
TOTAL LIABILITIES |  | 11,722,361 |  | 10,899,115
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | For the Year Ended December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2025
​ | ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | RMB
​ | ​ | (in thousands)
Total net revenues from third party | ​ | 595,498 | ​ | 764,160 | ​ | 891,657
Total net revenues from non-VIE subsidiaries of the Group | ​ | 263,430 | ​ | 363,013 | ​ | 415,938
Total net revenues |  | 858,928 | ​ | 1,127,173 | ​ | 1,307,595
Net income |  | 194,948 | ​ | 252,990 | ​ | 187,269
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2025
​ | ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | RMB
​ | ​ | (in thousands)
Net cash provided by operating activities |  | 1,890,990 | ​ | 2,893,547 | ​ | 314,122
Net cash provided by (used in) investing activities |  | (193,772) | ​ | (3,791,134) | ​ | 762,889
Net cash provided by (used in) financing activities |  | (1,212,136) | ​ | 1,673,754 | ​ | (1,212,228)
Net increase (decrease) in cash, cash equivalents and restricted cash |  | 485,082 | ​ | 776,167 | ​ | (135,217)
​

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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