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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Schedule of accrued expenses and other current liabilities


		As of December 31,
		2024		2025
		RMB		RMB

		(in thousands)
Deposit related to home renovation and furnishing services		1,630,275		1,304,835
Deposit related to home rental services (i)		1,434,338		1,550,187
Deposit related to new home transaction services		1,151,475		1,366,902
Deposit related to franchise services		1,103,229		1,241,484
Other tax payables		436,496		256,381
Accrued operating expenses		366,454		312,324
Amounts collected and payable on behalf of others (ii)		115,160		773,932
Payable of share repurchase consideration		94,925		56,778
Payable related to employees’ exercise of share-based awards		41,481		24,739
Deferred guarantee revenue		23,360		11,961
Others		871,312		688,554
Total		7,268,505		7,588,077

(i)	Deposit related to home rental services represents the rental deposit collected from tenants under the original model of home rental services.

(ii)

Amounts collected and payable on behalf of others refer to home purchase considerations collected from property buyers that have not yet been remitted to property sellers, and rental and related deposits collected from tenants under the new model of home rental services that are held by the Company on behalf of the property owners.