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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2025
SEGMENT INFORMATION |
Schedule of information by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | For the Year Ended December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2025
​ | ​ ​ ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | RMB
​ | ​ | (in thousands)
Existing home transaction services |  | ​ |  | ​ |  | ​
Net revenues |  | 27,954,135 | ​ | 28,201,003 | ​ | 25,020,035
Commission and compensation costs |  | (14,762,910) | ​ | (16,016,079) | ​ | (15,185,117)
Contribution |  | 13,191,225 | ​ | 12,184,924 | ​ | 9,834,918
New home transaction services | ​ | ​ | ​ | ​ | ​ | ​
Net revenues |  | 30,575,778 | ​ | 33,653,403 | ​ | 30,597,319
Commission and compensation costs | ​ | (22,455,253) | ​ | (25,304,481) | ​ | (22,950,571)
Contribution |  | 8,120,525 | ​ | 8,348,922 | ​ | 7,646,748
Home renovation and furnishing | ​ | ​ | ​ | ​ | ​ | ​
Net revenues |  | 10,850,497 | ​ | 14,768,947 | ​ | 15,426,141
Material costs, commission and compensation |  | (7,705,325) | ​ | (10,229,696) | ​ | (10,581,816)
Contribution | ​ | 3,145,172 | ​ | 4,539,251 | ​ | 4,844,325
Home rental services | ​ | ​ | ​ | ​ | ​ | ​
Net revenues |  | 6,099,747 | ​ | 14,334,479 | ​ | 21,900,320
Property leasing costs, commission and compensation | ​ | (6,163,044) | ​ | (13,619,506) | ​ | (20,020,954)
(Deficit)/Contribution | ​ | (63,297) | ​ | 714,973 | ​ | 1,879,366
Emerging and other services | ​ | ​ | ​ | ​ | ​ | ​
Net revenues | ​ | 2,296,775 | ​ | 2,499,666 | ​ | 1,636,390
Commission and compensation costs |  | (217,341) | ​ | (350,183) | ​ | (393,901)
Contribution |  | 2,079,434 | ​ | 2,149,483 | ​ | 1,242,489
​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of profit |  | ​ |  | ​ |  | ​
Cost related to stores |  | (2,872,093) |  | (2,854,988) |  | (2,851,831)
Other costs |  | (1,882,952) |  | (2,138,510) |  | (2,383,938)
Amounts not allocated to segment: | ​ | ​ | ​ | ​ | ​ | ​
Sales and marketing expenses | ​ | (6,654,178) | ​ | (7,783,341) | ​ | (7,328,909)
General and administrative expenses |  | (8,236,569) |  | (8,960,747) |  | (8,075,414)
Research and development expenses |  | (1,936,780) |  | (2,283,424) |  | (2,580,564)
Impairment of goodwill, intangible assets and other long-lived assets | ​ | (93,417) | ​ | (151,576) | ​ | (116,332)
Total operating expenses |  | (16,920,944) |  | (19,179,088) |  | (18,101,219)
Income from operations |  | 4,797,070 |  | 3,764,967 |  | 2,110,858

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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