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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical)
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Total net revenues ¥ 94,580,205 ¥ 93,457,498 ¥ 77,776,932
Cost of revenues:      
Commission-split 20,873,405 22,766,957 20,419,577
Cost of home renovation and furnishing 10,581,816 10,229,696 7,705,325
Cost of home rental services 20,020,954 13,619,506 6,163,044
Cost related to stores 2,851,831 2,854,988 2,872,093
Others 2,383,938 2,138,510 1,882,952
Operating expenses:      
Sales and marketing expenses 7,328,909 7,783,341 6,654,178
General and administrative expenses 8,075,414 8,960,747 8,236,569
Research and development expenses 2,580,564 2,283,424 1,936,780
Interest income, net 807,505 1,260,163 1,263,332
Existing home transaction services      
Total net revenues 25,020,035 28,201,003 27,954,135
New home transaction services      
Total net revenues 30,597,319 33,653,403 30,575,778
Home renovation and furnishing      
Total net revenues 15,426,141 14,768,947 10,850,497
Home rental services      
Total net revenues 21,900,320 14,334,479 6,099,747
Emerging and other services      
Total net revenues 1,636,390 2,499,666 2,296,775
Related Party      
Cost of revenues:      
Commission-split 331,521 601,193 869,298
Cost of home renovation and furnishing 48,000 116,207 176,824
Cost of home rental services 11,493 11,150 9,042
Cost related to stores 5,410 7,594 15,356
Others 6,697 13,496 9,401
Operating expenses:      
Sales and marketing expenses 9,113 21,001 6,776
General and administrative expenses 378 5,702 15,732
Research and development expenses 208,679 152,818 92,080
Interest income, net 11,895 7,010 6,987
Related Party | Existing home transaction services      
Total net revenues 464,327 644,130 830,295
Related Party | New home transaction services      
Total net revenues 67,818 1,289 2,713
Related Party | Home renovation and furnishing      
Total net revenues 3,174 7,360 6,471
Related Party | Home rental services      
Total net revenues 29,818 1,815 106
Related Party | Emerging and other services      
Total net revenues ¥ 23,357 ¥ 22,573 ¥ 26,062