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STATUTORY RESERVES AND RESTRICTED NET ASSETS (Tables) - Parent

12 Months Ended

Dec. 31, 2025

Schedule of Condensed balance sheets of the parent company

Condensed balance sheets of the parent company


		As of December 31,
		2024		2025
		RMB		RMB

		(in thousands, except for
		share and per share data)
ASSETS
Current assets:
Cash and cash equivalents		40,415		646,909
Short-term investments		1,946,964		2,771,550
Amounts due from subsidiaries and VIEs		1,476,789		1,434,821
Prepayments, receivables and other assets		7,641		3,495
Non‑current assets:
Investment in subsidiaries		66,782,487		61,861,571
Net assets of the VIEs		2,744,068		2,931,280
Long-term investments, net		362,992		—
TOTAL ASSETS		73,361,356		69,649,626

LIABILITIES
Current liabilities
Accrued expenses and other current liabilities		168,079		45,209
Amounts due to subsidiaries and VIEs		1,869,461		3,163,129
TOTAL LIABILITIES		2,037,540		3,208,338

SHAREHOLDERS’ EQUITY
Ordinary shares (US$0.00002 par value; 25,000,000,000 ordinary shares authorized, comprising of 24,114,698,720 Class A ordinary shares and 885,301,280 Class B ordinary shares as of both December 31, 2024 and 2025. 3,479,616,986 Class A ordinary shares issued and 3,337,567,403 Class A ordinary shares outstanding⁽¹⁾ as of December 31, 2024; 3,366,778,024 Class A ordinary shares issued and 3,233,808,859 Class A ordinary shares outstanding⁽¹⁾ as of December 31, 2025; and 145,413,446 and 139,447,770 Class B ordinary shares issued and outstanding as of December 31, 2024 and 2025, respectively)		461		450
Treasury shares		(949,410)		(848,433)
Additional paid‑in capital		72,460,562		64,802,176
Accumulated other comprehensive income		609,112		290,029
(Accumulated deficit) / Retained earnings		(796,909)		2,197,066
Total shareholders’ equity		71,323,816		66,441,288
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		73,361,356		69,649,626

(1)	Excluding the Class A ordinary shares registered in the name of the depositary bank for future issuance of ADSs upon the exercise or vesting of awards granted under our share incentive plans and the Class A ordinary shares repurchased but not cancelled in the form of ADSs.

Schedule of Condensed statements of comprehensive income (loss) of the parent company

Condensed statements of comprehensive income of the parent company


		For the Year Ended December 31,
		2023		2024		2025
		RMB		RMB		RMB

		(in thousands)
General and administrative expenses		(45,781)		(33,862)		(92,616)
Interest income, net		52,460		(117)		6,647
Share of income of subsidiaries		5,618,262		3,734,104		2,581,208
Income of the VIEs		194,884		252,952		187,213
Fair value changes through earnings on investments, net		45,235		40,780		95,325
Foreign currency exchange loss		(30,089)		(40,093)		(21,420)
Other income, net		48,253		111,136		237,618
Income before income tax expense		5,883,224		4,064,900		2,993,975
Income tax expense		—		—		—
Net income		5,883,224		4,064,900		2,993,975
Net income attributable to KE Holdings Inc.’s ordinary shareholders		5,883,224		4,064,900		2,993,975

Net income		5,883,224		4,064,900		2,993,975
Other comprehensive income (loss)
Currency translation adjustments		574,223		217,142		(429,040)
Unrealized gains on available-for-sale investments, net of reclassification		82,800		147,668		109,957
Total comprehensive income		6,540,247		4,429,710		2,674,892
Total comprehensive income attributable to KE Holdings Inc.’s ordinary shareholders		6,540,247		4,429,710		2,674,892

Schedule of Condensed statements of cash flows of the parent company

Condensed statements of cash flows of the parent company


		For the Year Ended December 31,
		2023		2024		2025
		RMB		RMB		RMB

		(in thousands)
Net cash provided by operating activities		62,063		194,920		131,872
Net cash provided by investing activities		6,933,723		7,749,040		9,950,599
Net cash used in financing activities		(6,576,333)		(7,931,793)		(9,462,344)
Effect of exchange rate changes on cash and cash equivalents		(422,857)		18,834		(13,633)
Net increase (decrease) in cash and cash equivalents		(3,404)		31,001		606,494
Cash and cash equivalents at the beginning of the year		12,818		9,414		40,415
Cash and cash equivalents at the end of the year		9,414		40,415		646,909