<SEC-DOCUMENT>0001104659-26-048138.txt : 20260424
<SEC-HEADER>0001104659-26-048138.hdr.sgml : 20260424
<ACCEPTANCE-DATETIME>20260424074544
ACCESSION NUMBER:		0001104659-26-048138
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20260424
FILED AS OF DATE:		20260424
DATE AS OF CHANGE:		20260424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KE Holdings Inc.
		CENTRAL INDEX KEY:			0001809587
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39436
		FILM NUMBER:		26890500

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ORIENTAL ELECTRONIC TECHNOLOGY BUILDING
		STREET 2:		NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT
		CITY:			BEIJING
		PROVINCE COUNTRY:   	F4
		ZIP:			100086
		BUSINESS PHONE:		861058104689

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ORIENTAL ELECTRONIC TECHNOLOGY BUILDING
		STREET 2:		NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT
		CITY:			BEIJING
		PROVINCE COUNTRY:   	F4
		ZIP:			100086
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2612586d3_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of April&nbsp;2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-39436</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Oriental Electronic Technology Building,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No.&nbsp;2 Chuangye Road, Haidian District,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beijing 100086</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;20-F&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 89%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2612586d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2612586d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">Announcement&mdash;Proposed Amendments to the Memorandum and the Articles of Association</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2612586d3_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2612586d3_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">Press Release&mdash;KE Holdings Inc. to Hold Annual General Meeting on June&nbsp;12, 2026</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2612586d3_ex99-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2612586d3_ex99-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Circular</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2612586d3_ex99-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2612586d3_ex99-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice of Annual General Meeting</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2612586d3_ex99-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.5</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2612586d3_ex99-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;of Proxy for the Annual General Meeting</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>KE Holdings Inc.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 43%">/s/ XU Tao</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">XU Tao</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Financial Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April&nbsp;24, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2612586d3_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Hong
Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,
make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;<IMG SRC="tm2612586d3_ex99-1img001.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>KE Holdings Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;<I>(A company controlled through
weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Stock
Code: 2423)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>PROPOSED
AMENDMENTS TO THE MEMORANDUM AND THE ARTICLES OF ASSOCIATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">This
announcement is made by KE Holdings Inc. (the &ldquo;<B>Company</B>&rdquo;) pursuant to Rule&nbsp;13.51(1)&nbsp;of the Rules&nbsp;Governing
the Listing of Securities on The Stock Exchange of Hong Kong Limited (the &ldquo;<B>Hong Kong Listing Rules</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The
board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;) proposed to make certain amendments to the memorandum of association
(the &ldquo;<B>Memorandum</B>&rdquo;) and the articles of association (the &ldquo;<B>Articles of Association</B>&rdquo;) of the Company
for the purpose of bringing the Memorandum and the Articles of Association in line with the Corporate Governance Code set out in Appendix
C1 to the Hong Kong Listing Rules, and making other housekeeping changes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The
proposed amendments to the Memorandum and the Articles of Association (the &ldquo;<B>Proposed Amendments</B>&rdquo;) shall be subject
to the approval of the shareholders of the Company by way of a special resolution at the forthcoming annual general meeting of the Company
(the &ldquo;<B>AGM</B>&rdquo;). A circular for the AGM, containing, among other matters, details of the Proposed Amendments, together
with a notice convening the AGM will be published by the Company in due course.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="text-align: center; width: 50%"><P STYLE="margin-top: 0; margin-bottom: 0">By order of the Board</P>
                                                                       <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>KE
                                            Holdings Inc.</B></FONT></P>
                                                                       <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Yongdong
                                            Peng</B></FONT></P></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>Chairman and Chief Executive Officer</I></FONT></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Hong
Kong, April&nbsp;23, 2026</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>As
at the date of this announcement, the Board comprises Mr.&nbsp;Yongdong Peng, Mr.&nbsp;Yigang Shan, Mr.&nbsp;Wangang Xu and Mr.&nbsp;Tao
Xu as the executive Directors, Mr.&nbsp;Jeffrey Zhaohui Li as the non-executive Director, and Ms.&nbsp;Xiaohong Chen, Mr.&nbsp;Hansong
Zhu and Mr.&nbsp;Jun Wu as the independent non-executive Directors.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2612586d3_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KE Holdings Inc. to Hold Annual General Meeting
on June&nbsp;12, 2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BEIJING, China, April&nbsp;24, 2026&mdash;KE Holdings Inc. (&ldquo;<B>Beike</B>&rdquo;
or the &ldquo;<B>Company</B>&rdquo;) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions
and services, today announced that it will hold an annual general meeting of the Company&rsquo;s shareholders (the &ldquo;<B>AGM</B>&rdquo;)
at&nbsp;3:00 p.m.&nbsp;Beijing&nbsp;time on&nbsp;Friday, June&nbsp;12, 2026 at Oriental Electronic Technology Building, No.&nbsp;2 Chuangye
Road, Haidian District, Beijing, PRC, for the purposes of considering and, if thought fit, passing each of the Proposed Resolutions as
defined and set forth in the notice of the AGM (the &ldquo;<B>AGM Notice&rdquo;</B>). A circular of the Company dated April&nbsp;24,
2026 in relation to the AGM, the AGM Notice and the form of proxy for the AGM are available on the Company&rsquo;s website at <U>https://investors.ke.com/</U>.
The board of directors of the Company fully supports the Proposed Resolutions and recommends that shareholders and holders of American
depositary shares (&ldquo;<B>ADSs</B>&rdquo;) of the Company vote in favor of the Proposed Resolutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of record of the Company&rsquo;s ordinary shares as of the
close of business on May&nbsp;12, 2026,&nbsp;Hong Kong&nbsp;time, are entitled to receive notice of, and to attend and vote at, the AGM
or any adjournment or postponement thereof. Holders of record of ADSs as of the close of business on&nbsp;May&nbsp;12, 2026,&nbsp;New
York&nbsp;time, who wish to exercise their voting rights for the underlying Class&nbsp;A ordinary shares must give voting instructions
to The Bank of New York Mellon, the depositary of the ADSs, <FONT STYLE="font-family: Times New Roman, Times, Serif">if the ADSs are
held by holders on the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary,
if the ADSs are held by any of them on behalf of holders of the ADSs</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has filed its annual report on Form&nbsp;20-F, including
its audited financial statements, for the fiscal year ended&nbsp;December&nbsp;31, 2025, with the U.S. Securities and Exchange Commission
(the &ldquo;<B>SEC</B>&rdquo;). The Company&rsquo;s annual report on Form&nbsp;20-F can be accessed on the Company&rsquo;s website at
 <U>https://investors.ke.com/</U> and on the SEC&rsquo;s website at <U>https://www.sec.gov</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>About KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">KE Holdings Inc. is a leading integrated
online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards
to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging
from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates&nbsp;<I>Lianjia</I>,
China&rsquo;s leading real estate brokerage brand and an integral part of its&nbsp;<I>Beike</I>&nbsp;platform. With more than 24 years
of operating experience through&nbsp;<I>Lianjia</I>&nbsp;since its inception in 2001, the Company believes the success and proven track
record of&nbsp;<I>Lianjia</I>&nbsp;pave the way for it to build its infrastructure and standards and drive the rapid and sustainable
growth of Beike.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This press release contains statements that
may constitute &ldquo;forward-looking&rdquo; statements pursuant to the &ldquo;safe harbor&rdquo; provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &ldquo;will,&rdquo; &ldquo;expects,&rdquo;
 &ldquo;anticipates,&rdquo; &ldquo;aims,&rdquo; &ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo;
 &ldquo;estimates,&rdquo; &ldquo;likely to,&rdquo; and similar statements. Beike may also make written or oral forward-looking statements
in its periodic reports to the SEC and The Stock Exchange of Hong Kong Limited (the &ldquo;<B>Hong Kong Stock Exchange</B>&rdquo;), in
its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors
or employees to third parties. Statements that are not historical facts, including statements about KE Holdings Inc.&rsquo;s beliefs,
plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number
of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited
to the following: Beike&rsquo;s goals and strategies; Beike&rsquo;s future business development, financial condition and results of operations;
expected changes in the Company&rsquo;s revenues, costs or expenditures; Beike&rsquo;s ability to empower services and facilitate transactions
on&nbsp;Beike&rsquo;s&nbsp;platform; competition in the industry in which Beike operates; relevant government policies and regulations
relating to the industry; Beike&rsquo;s ability to protect the Company&rsquo;s systems and infrastructures from cyber-attacks; Beike&rsquo;s
dependence on the integrity of brokerage brands, stores and agents on the Company&rsquo;s platform; general economic and business conditions
in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks
is included in KE Holdings Inc.&rsquo;s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press
release is as of the date of this press release, and KE Holdings Inc. does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For investor and media inquiries, please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In China:<BR>
KE Holdings Inc.<BR>
Investor Relations<BR>
Siting Li<BR>
E-mail: <U>ir@ke.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Piacente Financial Communications<BR>
Jenny Cai<BR>
Tel: +86-10-6508-0677<BR>
E-mail: <U>ke@tpg-ir.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States:<BR>
Piacente Financial Communications<BR>
Brandi Piacente<BR>
Tel: +1-212-481-2050<BR>
E-mail: <U>ke@tpg-ir.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Source: KE Holdings Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>tm2612586d3_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 99.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-top: 3pt; width: 100%; padding-bottom: 3pt"><B>THIS
  CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If you are in any doubt</B> as to any aspect
of this circular or as to the action to be taken, you should consult a stockbroker or other registered dealer in securities, a bank manager,
solicitor, professional accountant or other professional adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If you have sold or transferred</B> all your
shares in KE Holdings Inc., you should at once hand this circular, together with the enclosed form of proxy, to the purchaser or transferee
or to the bank, licensed securities dealer or other agent through whom the sale or transfer was effected for transmission to the purchaser
or transferee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong Exchanges and Clearing Limited and
The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><IMG SRC="tm2612586d3_ex99-5img001.jpg" ALT="" STYLE="width: 159px; height: 61px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #231f20"><I>(A company
controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>(Stock Code: 2423)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(1)</B></FONT><B>
PROPOSED RE-ELECTION OF DIRECTORS;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(2)</B></FONT><B>
PROPOSED AMENDMENT OF THE MEMORANDUM AND THE ARTICLES OF ASSOCIATION;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(3)</B></FONT><B>
PROPOSED GRANT OF GENERAL MANDATE TO ISSUE SHARES;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(4)</B></FONT><B>
PROPOSED GRANT OF GENERAL MANDATE TO REPURCHASE SHARES AND/OR ADSS;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(5)</B></FONT><B>
PROPOSED RE-APPOINTMENT OF AUDITORS; AND</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(6)</B></FONT><B>
NOTICE OF ANNUAL GENERAL MEETING</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">A letter from the Board is set
out on pages&nbsp;4 to 10 of this circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">The AGM will be held at Oriental
Electronic Technology Building, No.&nbsp;2 Chuangye Road, Haidian District, Beijing, PRC on Friday, June&nbsp;12, 2026 at 3:00 p.m.&nbsp;(Beijing
time). A notice convening the AGM is set out on pages&nbsp;22 to 27 of this circular. A form of proxy for use at the AGM is also enclosed
and published on the websites of the Stock Exchange (<B><U>www.hkexnews.hk</U></B>) and the Company (<B><U>investors.ke.com</U></B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">Holders of record of the Company&rsquo;s
Shares on the Company&rsquo;s register of members as of the close of business on the Share Record Date (Hong Kong time) are entitled
to attend the AGM in person. Holders of the ADSs as of the close of business on the ADS Record Date (New York time) are entitled to submit
your voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, if the ADSs are held by holders on the
books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary if the ADSs are held by
any of them on behalf of holders of the ADSs. Whether or not you propose to attend and vote at the AGM, please complete, sign, date,
and return the accompanying proxy form accompanying this circular to the Company&rsquo;s share registrar in Hong Kong, Computershare
Hong Kong Investor Services Limited (for holders of Shares) or your voting instructions to The Bank of New York Mellon if you hold your
ADSs directly on the books and records of The Bank of New York Mellon or to your bank, brokerage, or other securities intermediary if
you hold your ADSs indirectly through any of them, as the case may be (for holders of the ADSs) as promptly as possible and before the
prescribed deadline if you wish to exercise your voting rights. Computershare Hong Kong Investor Services Limited must receive the proxy
form for the AGM by no later than 3:00 p.m., Hong Kong time, on Wednesday, June&nbsp;10, 2026 at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s
Road East, Wanchai, Hong Kong; and The Bank of New York Mellon must receive your voting instructions by the time and date specified in
the ADS voting instruction card to enable the votes attaching to the Class&nbsp;A ordinary shares represented by your ADSs to be cast
at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231f20">April&nbsp;24, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONTENTS</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DEFINITIONS</B></FONT></TD>
    <TD STYLE="text-align: right; width: 46%">1</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LETTER FROM THE BOARD</B></FONT></TD>
    <TD STYLE="text-align: right; width: 46%">4</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt; width: 5%"></TD><TD STYLE="padding-bottom: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="padding-bottom: 10pt; width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Introduction</FONT></TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proposed
                                            Re-Election of Directors</FONT></TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD><TD STYLE="padding-bottom: 10pt">Proposed
                                            Amendment of the Memorandum and the Articles of Association</TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">6</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="padding-bottom: 10pt">Proposed
                                            Grant of General Mandate to Issue Shares</TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD><TD STYLE="padding-bottom: 10pt">Proposed
                                            Grant of General Mandate to Repurchase Shares and/or ADSs</TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">7</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD><TD STYLE="padding-bottom: 10pt">Proposed
                                            Re-Appointment of Auditors</TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">8</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 10pt">7.</TD><TD STYLE="padding-bottom: 10pt">The AGM and Proxy
                                            Arrangement</TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Recommendations</FONT></TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 10pt"></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD><TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Further
                                            information</FONT></TD>
                                                                                                                                <TD STYLE="padding-bottom: 10pt; text-align: right">10</TD></TR>
                                                                                                                                                                                                </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 12%"><FONT STYLE="font-size: 10pt">APPENDIX I&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 83%"><FONT STYLE="font-size: 10pt">DETAILS OF DIRECTORS PROPOSED
    FOR RE-ELECTION</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 5%"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">APPENDIX II&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">PROPOSED AMENDMENTS OF THE MEMORANDUM AND THE ARTICLES OF ASSOCIATION</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">APPENDIX III</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">16</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">NOTICE OF THE ANNUAL GENERAL MEETING&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD></TR>
  </TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #231f20"><I>In this circular, unless the
context otherwise requires, the following expressions shall have the following meanings:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; width: 30%; color: #231f20; text-align: left">&ldquo;2020
    Plan&rdquo;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 68%; color: #231f20; text-align: justify">the 2020 Global Share Incentive
    Plan adopted by the Shareholders in July&nbsp;2020 and amended in April&nbsp;2022, which permits the grant of awards in the forms
    of options, restricted shares, and restricted share units or other types of awards approved by the Board or compensation committee
    of the Board</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo; ADS(s)&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">American depositary shares, each of which
    represents three Class&nbsp;A ordinary shares</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo;ADS Record
    Date&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; color: #231f20">May&nbsp;12, 2026 (New York time)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo; AGM&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">the annual general meeting of the Company to be convened on Friday, June&nbsp;12, 2026 at 3:00 p.m.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; color: #231f20; vertical-align: top">&ldquo;Articles
    of Association&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">the articles of association of the Company,
    as amended or substituted from time to time</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; color: #231f20; vertical-align: top">&ldquo;associate(s)&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">has the meaning ascribed to it under the
    Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; color: #231f20; vertical-align: top">&ldquo;Board&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">the board of Directors</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo;business
    day&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">any day (other than a Saturday, Sunday
    or public holiday in Hong Kong) on which banks in Hong Kong or other relevant jurisdictions are generally open for normal banking
    business</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo;China&rdquo;
    or &ldquo;PRC&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">the People&rsquo;s Republic of China, and
    for the purposes of this circular only, except where the context requires otherwise, excluding Hong Kong, the Macao Special Administrative
    Region of the People&rsquo;s Republic of China and Taiwan</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">&ldquo;Class&nbsp;A
    ordinary shares&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: justify">Class&nbsp;A ordinary shares of the share
    capital of the Company with a par value of US$0.00002 each, conferring a holder of a Class&nbsp;A ordinary share one vote per share
    on all matters subject to the vote at general meetings of the Company</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; width: 30%; color: #231f20; text-align: left">&ldquo;Class&nbsp;B
    ordinary shares&rdquo;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 68%; color: #231f20; text-align: justify">Class&nbsp;B
    ordinary shares of the share capital of the Company with a par value of US$0.00002 each, conferring weighted voting rights in the
    Company such that a holder of a Class&nbsp;B ordinary share is entitled to ten votes per share on all matters subject to the vote
    at general meetings of the Company, subject to the requirements under Rule&nbsp;8A.24 of the Hong Kong Listing Rules&nbsp;that the
    reserved matters shall be voted on a one vote per share basis</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo; Company&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">KE Holdings Inc. (&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;),
    an exempted company with limited liability incorporated in the Cayman Islands on July&nbsp;6, 2018</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;connected
    person(s)&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    to it under the Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;Director(s)&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the director(s)&nbsp;of
    the Company</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Group&rdquo;
    or &ldquo;Beike&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the Company, its subsidiaries
    and the consolidated affiliated entities from time to time</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;HK$&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">Hong Kong dollars,
    the lawful currency of Hong Kong</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Hong Kong&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the Hong Kong Special
    Administrative Region of the People&rsquo;s Republic of China</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Hong
    Kong Stock Exchange&rdquo; or &ldquo;Stock Exchange&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">The Stock Exchange
    of Hong Kong Limited</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Latest Practicable
    Date&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">April&nbsp;23, 2026,
    being the latest practicable date for ascertaining certain information contained herein</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo; Listing&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the listing of the
    Class&nbsp;A ordinary shares on the Main Board of the Stock Exchange on May&nbsp;11, 2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Listing
    Rules&rdquo; or &ldquo;Hong Kong Listing Rules&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the Rules&nbsp;Governing
    the Listing of Securities on The Stock Exchange of Hong Kong Limited</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;Memorandum&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the memorandum of
    association, as amended or substituted from time to time</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; width: 30%; color: #231f20; text-align: left">&ldquo;Nomination
    Committee&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 2%; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 68%; color: #231f20; text-align: justify">the nomination
    committee of the Board</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo; SFO&rdquo;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">Securities and Futures
    Ordinance (Chapter 571 of the Laws of Hong Kong), as amended, supplemented or otherwise modified from time to time</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Share Record
    Date&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; color: #231f20; vertical-align: top">May&nbsp;12, 2026
    (Hong Kong time)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;Shareholder(s)&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">holder(s)&nbsp;of
    Shares and, where the context requires, ADSs</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo; Shares&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the Class&nbsp;A ordinary
    shares and the Class&nbsp;B ordinary shares in the share capital of the Company, as the context so requires</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;subsidiary(ies)&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    to it under the Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;substantial
    shareholder(s)&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    to it in the Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;Takeovers
    Code&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the Codes on Takeovers
    and Mergers and Share Buy-backs issued by the Securities and Futures Commission in Hong Kong</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;treasury
    shares&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    thereto under the Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;United States&rdquo;,
    &ldquo;U.S.&rdquo; or &ldquo;US&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">the United States
    of America, its territories, its possessions and all areas subject to its jurisdiction</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;weighted
    voting right&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    to it in the Listing Rules</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&ldquo;WVR Beneficiary(ies)&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; color: #231f20; text-align: justify">has the meaning ascribed
    to it under the Hong Kong Listing Rules&nbsp;and unless the context otherwise requires, refers to Mr.&nbsp;Yongdong Peng and Mr.&nbsp;Yigang
    Shan, being the holders of the Class&nbsp;B ordinary shares upon the Listing, entitling each to weighted voting rights</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; vertical-align: top">&ldquo;%&rdquo;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; color: #231f20; vertical-align: top">per cent</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2612586d3_ex99-5img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><I>(A company controlled through
weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>(Stock Code: 2423)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Executive Directors:<BR>
    </I>Yongdong Peng <I>(Chairman)<BR>
    </I>Yigang Shan<BR>
    Wangang Xu <I>(Vice Chairman)</I><BR>
    Tao Xu</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Non-executive Director:<BR>
    </I>Jeffrey Zhaohui Li</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Independent Non-executive Directors:<BR>
    </I>Xiaohong Chen<BR>
    Hansong Zhu<BR>
    Jun Wu</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Registered
    Office:<BR>
    </I>Harneys Fiduciary (Cayman) Limited<BR>
    4th Floor, Harbour Place<BR>
    103 South Church Street<BR>
    P.O.</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">Box 10240<BR>
    Grand Cayman KY1-1002<BR>
    Cayman Islands</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Corporate
    Headquarters:<BR>
    </I>Oriental Electronic Technology Building<BR>
    No.</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">2 Chuangye Road<BR>
    Haidian District<BR>
    Beijing 100086<BR>
    PRC</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Principal Place of Business in Hong Kong:<BR>
    </I>Room 1912<BR>
    19/F, Lee Garden One<BR>
    33 Hysan Avenue<BR>
    Causeway Bay<BR>
    Hong Kong</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 24, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><I>To the Shareholders</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20">Dear Sir or Madam,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(1) PROPOSED
RE-ELECTION OF DIRECTORS;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(2) PROPOSED
AMENDMENT OF THE MEMORANDUM AND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20; margin-top: 0pt; margin-bottom: 0pt"><B>THE ARTICLES
OF ASSOCIATION;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(3) PROPOSED
GRANT OF GENERAL MANDATE TO ISSUE SHARES;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(4) PROPOSED
GRANT OF GENERAL MANDATE TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20; margin-top: 0pt; margin-bottom: 0pt"><B>REPURCHASE
SHARES AND/OR ADSS;</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(5) PROPOSED
RE-APPOINTMENT OF AUDITORS;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20; margin-top: 0pt; margin-bottom: 0pt"><B>AND</B></P>

<P STYLE="text-align: center; color: #231f20; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(6) NOTICE
OF ANNUAL GENERAL MEETING</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>INTRODUCTION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #231f20">The purpose of this circular
is to give you notice of the AGM, and to provide you with information regarding the following proposals to be put forward at the AGM:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>the proposed re-election of Directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>the proposed amendment of the Memorandum and the Articles of Association;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD>the proposed grant of a general mandate to issue Shares;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>the proposed grant of a general mandate to repurchase Shares and/or
                                            ADSs; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD>the proposed re-appointment of auditors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>PROPOSED RE-ELECTION OF DIRECTORS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Pursuant
to the Articles of Association and the Corporate Governance Code set out in Appendix C1 to the Listing Rules, Mr.&nbsp;Wangang Xu, Mr.&nbsp;Tao
Xu and Mr.&nbsp;Hansong Zhu will retire at the AGM and, being eligible, will offer themselves for re-election as Directors (the &ldquo;<B>Nominees</B>&rdquo;)
at the AGM. Biographical details of the Nominees are set out in the Appendix I to this circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Except as
stated in the Appendix I to this circular, none of the Nominees currently nor in the past three years, holds any directorships in any
listed companies or any other major positions in the Company and its subsidiaries. None of the Nominees has any relationship with any
other Director, senior management or substantial Shareholders of the Company (as defined in the Hong Kong Listing Rules).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">For details
of Nominees&rsquo; interest, please refer to the Appendix I to this circular. Save as disclosed in the Appendix I to this circular, none
of the Nominees has any interests in the Shares within the meaning of Part&nbsp;XV of the SFO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The proposals
for the re-election of the Nominees will be submitted for the Shareholders&rsquo; approval at the AGM. The term of office of each Nominee
is three years, commencing from the date of approval by the Shareholders at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Company
had determined the remuneration of each Nominee for the year ended December&nbsp;31, 2025 with reference to their qualifications, duties,
responsibilities, experience, contribution to the Board, participation in the corporate governance, as well as the then market condition.
Each Nominee had not participated the determination of his remuneration. For the details of the remuneration of Nominees for the year
ended December&nbsp;31, 2025, please refer to the 2025 annual report of the Company. After obtaining the relevant approval from the Shareholders
at the AGM, the Company will renew service contract with each Nominee, if applicable. The Board, after obtaining the authorisation at
the AGM, will determine the remuneration of Nominees with reference to their qualifications, duties, responsibilities, experience, contribution
to the Board, participation in the corporate governance, as well as the current market condition. The Company will disclose the remuneration
of Directors in its annual report each year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Save as
disclosed above, as at the date of this circular, there is no information of the Nominees that needs to be disclosed pursuant to Rules&nbsp;13.51(2)(h)&nbsp;to
(v)&nbsp;of the Hong Kong Listing Rules&nbsp;and there are no other matters that need to be brought to the attention of the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Nomination
Committee has reviewed the structure and composition of the Board, the confirmations and disclosures of the Nominees, the qualifications,
skills and experience, time commitment and contribution of the Nominees with reference to the nomination principles and criteria set
out in the Company&rsquo;s board diversity policy and director nomination policy and the Company&rsquo;s corporate strategy and the independence
of the independent non-executive Directors. Mr.&nbsp;Hansong Zhu, an independent non-executive Director proposed to be re-elected, has
confirmed his independence with reference to the factors set out in Rule&nbsp;3.13 of the Listing Rules. The Nomination Committee and
the Board have conducted assessment on his independence and considered that Mr.&nbsp;Hansong Zhu is independent in accordance with the
independence guidelines set out in the Listing Rules, and are satisfied with the Nominees&rsquo; contribution to the Company, which will
continue to bring valuable business experience, knowledge and professionalism to the Board for its efficient and effective functioning
and diversity. The Nomination Committee and the Board therefore recommended the re-election of the Nominees including the aforesaid independent
non-executive Director at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>PROPOSED AMENDMENT OF THE MEMORANDUM AND THE ARTICLES OF ASSOCIATION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Company
proposed to make certain amendments to the Memorandum and the Articles of Association for the purpose of bringing the Memorandum and
the Articles of Association in line with the Corporate Governance Code set out in Appendix C1 to the Hong Kong Listing Rules, and making
other housekeeping changes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Details
of the proposed amendment to the Memorandum and the Articles of Association are set out in the Appendix II to this circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The proposed
amendment of the Memorandum and the Articles of Association is subject to the approval of the Shareholders by way of a special resolution
at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><B>PROPOSED GRANT OF GENERAL MANDATE TO ISSUE SHARES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">In order
to give the Company the flexibility to issue Class&nbsp;A ordinary shares if and when appropriate, without needing to convene a general
meeting for each and every share issuance, an ordinary resolution will be proposed at the AGM to approve the granting of a general mandate
to the Directors to allot, issue or deal with additional Class&nbsp;A ordinary shares (including the sale or transfer of treasury shares)
not exceeding 20% of the total number of issued Shares (excluding treasury shares) as at the date of passing of such resolution (the
 &ldquo;<B>Issuance Mandate</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As at the
Latest Practicable Date, the issued share capital of the Company comprised 3,356,594,900 Class&nbsp;A ordinary shares and 137,181,078
Class&nbsp;B ordinary shares. Subject to the passing of the ordinary resolution 4 and on the basis that the issued share capital of the
Company (excluding treasury shares) remains unchanged after the Latest Practicable Date and up to the date of the AGM, the Company will
be allowed to issue a maximum of 698,755,195 ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">In addition,
subject to a separate approval of the ordinary resolution 6, the number of Shares and/or Shares underlying the ADSs purchased by the
Company under ordinary resolution 5 will also be added to extend the Issuance Mandate as mentioned in ordinary resolution 4 provided
that such additional amount shall represent up to 10% of the number of issued Shares (excluding treasury shares) as at the date of passing
the resolutions in relation to the Issuance Mandate and Repurchase Mandate (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD><B>PROPOSED GRANT OF GENERAL MANDATE TO REPURCHASE SHARES AND/OR
                                            ADSS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">In order
to give the Company the flexibility to repurchase Shares and/or ADSs if and when appropriate, without needing to convene a general meeting
for each and every repurchase, an ordinary resolution will be proposed at the AGM to approve the granting of a general mandate to the
Directors to exercise the powers of the Company to repurchase Shares and/or ADSs representing up to 10% of the total number of issued
Shares (excluding treasury shares) as at the date of passing of such resolution (the &ldquo;<B>Repurchase Mandate</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As at the
Latest Practicable Date, the issued share capital of the Company comprised 3,356,594,900 Class&nbsp;A ordinary shares and 137,181,078
Class&nbsp;B ordinary shares. Subject to the passing of the ordinary resolution 5 and on the basis that the issued share capital of the
Company (excluding treasury shares) remains unchanged after the Latest Practicable Date and up to the date of the AGM, the Company will
be allowed to repurchase a maximum of 349,377,597 ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">An explanatory
statement required by the Listing Rules&nbsp;to be sent to the Shareholders in connection with the proposed Repurchase Mandate is set
out in Appendix III to this circular. This explanatory statement contains the information reasonably necessary to enable the Shareholders
to make an informed decision on whether to vote for or against the relevant resolution at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Pursuant
to the Listing Rules, if the Company purchases any Shares and/or ADSs pursuant to the Repurchase Mandate, the Company will either (i)&nbsp;cancel
the Shares and/or the Shares underlying ADSs repurchased and/or (ii)&nbsp;hold such Shares and/or the Shares underlying ADSs in treasury,
subject to market conditions and the Company&rsquo;s capital management needs at the relevant time any repurchases of Shares are made.
If the Company holds any Shares in treasury, any sale or transfer of Shares in treasury will be made pursuant to the terms of the Issuance
Mandate and in accordance with the Listing Rules&nbsp;and applicable laws and regulations of the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Issuance
Mandate (including the extended Issuance Mandate) and the Repurchase Mandate, if granted, shall continue to be in force during the period
from the date of passing of the resolutions for the approval of the Issuance Mandate (including the extended Issuance Mandate) and the
Repurchase Mandate up to (i)&nbsp;the conclusion of the next annual general meeting of the Company; (ii)&nbsp;the expiration of the period
within which the next annual general meeting of the Company is required to be held by the Articles of Association or any applicable laws
and regulations; or (iii)&nbsp;the date on which the authority set out in the Issuance Mandate (including the extended Issuance Mandate)
or the Repurchase Mandate (as the case may be) is revoked or varied by an ordinary resolution of the Shareholders in general meeting,
whichever occurs first.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD><B>PROPOSED RE-APPOINTMENT OF AUDITORS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Following
the recommendation of the audit committee of the Board, the Board proposed to re-appoint PricewaterhouseCoopers and PricewaterhouseCoopers
Zhong Tian LLP as the auditors of the Company with a term expiring upon the next annual general meeting of the Company. The audit fees
for the year ending December&nbsp;31, 2026 are estimated to be around RMB35.9 million and capped at RMB40.0 million, and the Board proposed
it be authorized to fix their remuneration for the year ending December&nbsp;31, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231f20">The fees are determined based on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 17.1pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            scope and complexity of the audit work for the Group&rsquo;s consolidated financial statements,
                                            considering the scale of operations, a significant number of subsidiaries and geographic
                                            coverage. As a dual primary-listed entity, the auditors are engaged to conduct two separate,
                                            full-scope audits of the Group&rsquo;s consolidated financial statements: (i)&nbsp;the integrated
                                            audit (covering both financial statement audit and internal control over financial reporting)
                                            performed in accordance with the standards established by the Public Company Accounting Oversight
                                            Board (PCAOB) to satisfy U.S. Securities and Exchange Commission (SEC) regulatory requirements;
                                            and (ii)&nbsp;the financial statement audit performed in accordance with International Standards
                                            on Auditing to meet the Listing Rules;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 17.1pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the expected audit
                                            timeline, resources and professional expertise required; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 17.1pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>market benchmarking
                                            for similar scale and complexity of listed companies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #231f20">An
ordinary resolution in respect of the re-appointment of the auditors of the Company will be proposed at the AGM for consideration and
approval by the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD><B>THE AGM AND PROXY ARRANGEMENT</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The AGM
will be held at Oriental Electronic Technology Building, No.&nbsp;2 Chuangye Road, Haidian District, Beijing, PRC on Friday, June&nbsp;12,
2026. The AGM will commence at 3:00 p.m.&nbsp;(Beijing time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The notice
of the AGM is enclosed and published on the websites of the Stock Exchange (<B><U>www.hkexnews.hk</U></B>) and the Company (<B><U>investors.ke.com</U></B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Holders
of record of the Company&rsquo;s Shares on the Company&rsquo;s register of members as of the close of business on the Share Record Date
(Hong Kong time) are entitled to attend the AGM in person. Holders of the ADSs as of the close of business on the ADS Record Date (New
York time) are entitled to submit your voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, if the
ADSs are held by holders on the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary,
if the ADSs are held by any of them on behalf of holders of the ADSs. Whether or not you propose to attend and vote at the AGM, please
complete, sign, date, and return the accompanying proxy form to the Company&rsquo;s share registrar in Hong Kong, Computershare Hong
Kong Investor Services Limited (for holders of Shares) or your voting instructions to The Bank of New York Mellon if you hold your ADSs
directly on the books and records of The Bank of New York Mellon or to your bank, brokerage, or other securities intermediary if you
hold your ADSs indirectly through any of them, as the case may be (for holders of the ADSs) as promptly as possible and before the prescribed
deadline if you wish to exercise your voting rights. Computershare Hong Kong Investor Services Limited must receive the proxy forms not
less than 48 hours before the time appointed for the AGM at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wanchai, Hong Kong;
and The Bank of New York Mellon must receive your voting instructions by the time and date specified in the ADS voting instruction card
to enable the votes attaching to the Class&nbsp;A ordinary shares represented by your ADSs to be cast at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The resolutions
to be proposed at the AGM will be voted by way of poll in accordance with the Hong Kong Listing Rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>8.</B></TD><TD><B>RECOMMENDATIONS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Board
considers that the above-mentioned resolutions regarding the proposed re-election of the Directors, the proposed amendment of the Memorandum
and the Articles of Association, the proposed Issuance Mandate, the proposed Repurchase Mandate, and the proposed re-appointment of the
auditors of the Company are in the best interests of the Company and the Shareholders as a whole and accordingly the Directors recommend
you to vote in favor of the said resolutions to be proposed at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LETTER FROM THE BOARD</B></P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>9.</B></TD><TD><B>FURTHER INFORMATION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Your attention
is drawn to the information set out in the appendices to this circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 30%; font: 10pt Times New Roman, Times, Serif; color: #231f20">By Order of the Board</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231f20">KE Holdings Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231f20">Yongdong Peng</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif; color: #231f20">Chairman and Chief Executive Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  I</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DETAILS
  OF DIRECTORS PROPOSED FOR RE-ELECTION</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20"><I>The following
are the particulars (as required by the Listing Rules) of the Directors proposed to be re-elected at the AGM.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>POSITION AND EXPERIENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD><B>Mr.&nbsp;Wangang Xu</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Wangang
Xu (&#24464;&#33836;&#21083;), aged 60, is the vice chairman of the Board and an executive Director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Mr.&nbsp;Wangang
Xu has been serving as the vice chairman of the Board since July&nbsp;2023 and an executive Director since May&nbsp;2021, and also served
as a Director from December&nbsp;2018 to August&nbsp;2020. He successively served as the co-chief operating officer and chief operating
officer of the Company from May&nbsp;2018 to July&nbsp;2023. From July&nbsp;2017 to May&nbsp;2018, Mr.&nbsp;Wangang Xu served as the
head of the western region of the Group and was responsible for the overall operation management of the western region of the Company.
From December&nbsp;2015 to June&nbsp;2017, Mr.&nbsp;Wangang Xu served as the general manager of Sichuan Lianjia Real Estate Brokerage
Co.,&nbsp;Ltd. (&#22235;&#24029;&#37832;&#23478;&#25151;&#22320;&#29986;&#32147;&#32000;&#26377;&#38480;&#20844;&#21496;) (&ldquo;<B>Sichuan
Lianjia</B>&rdquo;), a wholly-owned subsidiary of the Company. Mr.&nbsp;Wangang Xu founded Sichuan Eden City Real Estate E-Commerce Co.,&nbsp;Ltd.
(&#22235;&#24029;&#20234;&#30008;&#22478;&#25151;&#29986;&#38651;&#23376;&#21830;&#21209;&#26377;&#38480;&#20844;&#21496;) in August&nbsp;2004
which was deregistered in March&nbsp;2014 and Sichuan Eden City Real Estate Brokerage Co.,&nbsp;Ltd. (&#22235;&#24029;&#20234;&#30008;&#22478;&#19981;&#21205;&#29986;&#32147;&#32000;&#26377;&#38480;&#20844;&#21496;)
in December&nbsp;2009 and served as the general manager, the latter of which was renamed as Sichuan Yicheng Real Estate Brokerage Co.,&nbsp;Ltd.
(&#22235;&#24029;&#20234;&#35488;&#25151;&#22320;&#29986;&#32147;&#32000;&#26377;&#38480;&#20844;&#21496;) in April&nbsp;2011, and was
subsequently acquired by Beijing Lianjia Real Estate Brokerage Co.,&nbsp;Ltd. (&#21271;&#20140;&#37832;&#23478;&#25151;&#22320;&#29986;&#32147;&#32000;&#26377;&#38480;&#20844;&#21496;)
in December&nbsp;2015 and renamed as Sichuan Lianjia. Mr.&nbsp;Wangang Xu served as a manager of Chengdu Chengdian Wantong Investment
Co.,&nbsp;Ltd. (&#25104;&#37117;&#25104;&#38651;&#33836;&#36890;&#25237;&#36039;&#26377;&#38480;&#20844;&#21496;) from September&nbsp;2001
to September&nbsp;2004. Mr.&nbsp;Wangang Xu successively served as a staff member and manager in technology R&amp;D department of No.&nbsp;10
Research Institute of Ministry of Electronics Industries (&#38651;&#23376;&#24037;&#26989;&#37096;&#31532;&#21313;&#30740;&#31350;&#25152;)
(currently known as China Electronics Technology Group Corporation No.&nbsp;10 Research Institute (&#20013;&#22283;&#38651;&#23376;&#31185;&#25216;&#38598;&#22296;&#20844;&#21496;&#31532;&#21313;&#30740;&#31350;&#25152;))
from September&nbsp;1986 to August&nbsp;2001. Mr.&nbsp;Wangang Xu received a bachelor&rsquo;s degree in electronic engineering from Chengdu
Institute of Radio Engineering (&#25104;&#37117;&#38651;&#35338;&#24037;&#31243;&#23416;&#38498;, currently known as University of Electronic
Science and Technology of China (&#38651;&#23376;&#31185;&#25216;&#22823;&#23416;)) in July&nbsp;1986.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Mr.&nbsp;Wangang
Xu has over 20 years&rsquo; experiences in the real estate industry, witnessing the development of the industry which enabled him to
have a keen awareness and deep understanding of the industry. Mr.&nbsp;Wangang Xu is the vice chairman of the Board and an executive
Director, and responsible for the Group&rsquo;s business operations, including the operation of home renovation and furnishing business
and <I>Beihaojia </I>business. With his deep strategic thinking and macroscopic understanding of the market, industry and economic environment,
Mr.&nbsp;Wangang Xu is integrally involved in the development and implementation of the Company&rsquo;s overall strategies, has led the
home renovation business to achieve a significant improvement in its operating efficiency and has advanced the C2M (Customer to Manufacturer)
capabilities of the <I>Beihaojia </I>business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  I</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DETAILS
  OF DIRECTORS PROPOSED FOR RE-ELECTION</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>(2)</B></TD><TD><B>Mr.&nbsp;Tao Xu</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Tao Xu (&#24464;&#28644;),
aged 52, is an executive Director and the chief financial officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Mr.&nbsp;Tao
Xu has been serving as an executive Director since August&nbsp;2021 and also served as a Director from December&nbsp;2018 to August&nbsp;2020.
Mr.&nbsp;Tao Xu has been the chief financial officer of Beike since November&nbsp;2016. Prior to joining the Group, Mr.&nbsp;Tao Xu served
as the chief financial officer of Beijing SenseTime Technology Development Co.,&nbsp;Ltd. (&#21271;&#20140;&#24066;&#21830;&#28271;&#31185;&#25216;&#38283;&#30332;&#26377;&#38480;&#20844;&#21496;)
from June&nbsp;2016 to October&nbsp;2016. From August&nbsp;2014 to December&nbsp;2015, Mr.&nbsp;Tao Xu served as the chief financial
officer of Beijing Didi Infinity Technology and Development Co.,&nbsp;Ltd. (&#21271;&#20140;&#22016;&#22016;&#28961;&#38480;&#31185;&#25216;&#30332;&#23637;&#26377;&#38480;&#20844;&#21496;).
From September&nbsp;2011 to July&nbsp;2014, Mr.&nbsp;Tao Xu served as the chief financial officer of the China Region of Dimension Data
Information Technology (Beijing) Co.,&nbsp;Ltd. (&#36948;&#31185;&#20449;&#24687;&#31185;&#25216;(&#21271;&#20140;)&#26377;&#38480;&#20844;&#21496;).
From April&nbsp;2008 to February&nbsp;2011, Mr.&nbsp;Tao Xu served as the financial director of China Region of Sun Microsystems China
Co.,&nbsp;Ltd. (&#22826;&#38525;&#35336;&#31639;&#27231;&#31995;&#32113;(&#20013;&#22283;)&#26377;&#38480;&#20844;&#21496;). From May&nbsp;2001
to March&nbsp;2008, Mr.&nbsp;Tao Xu successively served as the financial director of Greater China and the chief financial officer at
Lucent Technology (China) Co.,&nbsp;Ltd. (&#26391;&#35338;&#31185;&#25216;(&#20013;&#22283;)&#26377;&#38480;&#20844;&#21496;). From 1999
to 2001, Mr.&nbsp;Tao Xu served as the financial manager of Beijing Sohu Internet Information Service Co.,&nbsp;Ltd. (&#21271;&#20140;&#25628;&#29392;&#20114;&#32879;&#32178;&#20449;&#24687;&#26381;&#21209;&#26377;&#38480;&#20844;&#21496;).
Prior to that, Mr.&nbsp;Tao Xu worked at Pepsi. Mr.&nbsp;Tao Xu received his bachelor&rsquo;s degree in economics from Capital University
of Economics and Business (&#39318;&#37117;&#32147;&#28639;&#36031;&#26131;&#22823;&#23416;) in July&nbsp;1996 and a master&rsquo;s degree
of commerce in international professional accounting from the University of New South Wales in October&nbsp;2005.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Mr.&nbsp;Tao
Xu has rich experiences in financial management and capital market, and has served as the chief financial officer in various leading
companies. During his tenure as the chief financial officer of Beike since November&nbsp;2016, Mr.&nbsp;Tao Xu is responsible for the
overall comprehensive financial management of the Group, as well as other works relating to budget, taxation, funds and investor relations.
He has led the Company to successfully complete the initial public offering and listing on the New York Stock Exchange in August&nbsp;2020,
the follow-on ADS offering in November&nbsp;2020 and the listing on the Hong Kong Stock Exchange in May&nbsp;2022, respectively. As an
executive Director, Mr.&nbsp;Tao Xu has been actively participating in the formulation of the overall development strategies of the Group.
He has also been dedicated to promoting the internal controls and environmental, social and governance initiatives. Through his long-term
strategic vision, proven business judgment and rich experiences in relevant areas, Mr.&nbsp;Tao Xu has made and will continuously make
great contributions to the sustainable development of the Group to maximize the value for the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  I</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DETAILS
  OF DIRECTORS PROPOSED FOR RE-ELECTION</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>(3)</B></TD><TD><B>Mr.&nbsp;Hansong Zhu</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Hansong
Zhu (&#26417;&#23506;&#26494;), aged 56, is an independent non-executive Director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Mr.&nbsp;Hansong
Zhu has been serving as an independent Director of the Company since August&nbsp;2021 and was re-designated as an independent non-executive
Director in May&nbsp;2022. Mr.&nbsp;Hansong Zhu founded Seekers Capital (Jiangyin) Co.,&nbsp;Ltd. (&#27743;&#38512;&#38686;&#23458;&#31169;&#21215;&#22522;&#37329;&#31649;&#29702;&#26377;&#38480;&#20844;&#21496;)
in March&nbsp;2022 and currently serves as its chairman and general manager. Mr.&nbsp;Hansong Zhu worked for Goldman Sachs Group Inc.
(&ldquo;<B>Goldman Sachs</B>&rdquo;) from June&nbsp;2000 to December&nbsp;2019 and successively served several positions, including associate,
executive director, managing director and partner. Before retiring from Goldman Sachs in December&nbsp;2019, Mr.&nbsp;Hansong Zhu was
the co-head of China Investment Banking, the head of industrial and natural resources group in Asia Ex-Japan, the chief executive officer
of Goldman Sachs Gao Hua Securities Company Limited, and a member of the Asia Pacific Commitments Committee and Investment Banking Division
Client and Business Standards Committee of Goldman Sachs. Prior to joining Goldman Sachs, Mr.&nbsp;Hansong Zhu worked at China International
Capital Corporation Limited from November&nbsp;1995 to June&nbsp;2000. Mr.&nbsp;Hansong Zhu has been an independent non-executive director
of Geely Automobile Holdings Limited, a company listed on the Hong Kong Stock Exchange with the stock code 175, since October&nbsp;2023.
He served as an independent director of Kidswant Children Products Co.,&nbsp;Ltd. (&#23401;&#23376;&#29579;&#20818;&#31461;&#29992;&#21697;&#32929;&#20221;&#26377;&#38480;&#20844;&#21496;),
a company listed on the Shenzhen Stock Exchange with the stock code 301078, from March&nbsp;2020 to May&nbsp;2022, and Missfresh Limited,
a company listed on the Nasdaq Stock Market under the symbol &ldquo;MF,&rdquo; from June&nbsp;2021 to September&nbsp;2022. Mr.&nbsp;Hansong
Zhu received a bachelor&rsquo;s degree in economics from Nanjing University (&#21335;&#20140;&#22823;&#23416;) in July&nbsp;1991 and
a master&rsquo;s degree in economics from Peking University in July&nbsp;1994.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>INTEREST IN THE SHARES OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As far as
the Directors are aware, as at the Latest Practicable Date, each of Mr.&nbsp;Wangang Xu, Mr.&nbsp;Tao Xu and Mr.&nbsp;Hansong Zhu was
interested or deemed to be interested in the following Shares or underlying Shares of the Company pursuant to Part&nbsp;XV of the SFO:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 97%; margin-left: 0.25in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">Name of Director</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nature of<BR> Interest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Class&nbsp;of <BR>
    Shares</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of<BR> Shares Held or<BR> Interested</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Approximate<BR>
    Percentage of<BR> Shareholding in<BR> the Relevant<BR> Class&nbsp;of Issued<BR> Shares</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Approximate<BR>
    Percentage of<BR> Shareholding in<BR> the Total Issued<BR> Share Capital</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">%</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">%</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wangang Xu<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">Beneficial owner</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;A ordinary share</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right">7,177,120</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.21</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.21</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Founder of a discretionary </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10,087,955</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.30</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.29</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Trust Interest held by controlled corporations</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,075,188</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.12</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.12</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  I</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DETAILS
  OF DIRECTORS PROPOSED FOR RE-ELECTION</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 97%; margin-left: 0.25in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">Name of Director</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nature of<BR> Interest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Class&nbsp;of <BR>
    Shares</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of<BR> Shares Held or<BR> Interested</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Approximate<BR>
    Percentage of<BR> Shareholding in<BR> the Relevant<BR> Class&nbsp;of Issued<BR> Shares</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Approximate<BR>
    Percentage of<BR> Shareholding in<BR> the Total Issued<BR> Share Capital</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">%</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">%</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: left">Tao Xu<SUP>(2)</SUP></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">Interest held by controlled corporations</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;A ordinary share</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right">750,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.02</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.02</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Founder of a discretionary Trust</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,549,999</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.10</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.10</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Hansong Zhu<SUP>(3)</SUP></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Beneficial owner</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Class&nbsp;A ordinary share</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">57,222</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>Notes:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">As of the Latest Practicable Date, 7,177,120
                                            Class&nbsp;A ordinary shares were beneficially owned by Mr.&nbsp;Wangang Xu. 10,087,955 Class&nbsp;A
                                            ordinary shares were held by Blossom South Limited. Blossom South Limited is wholly owned
                                            by Clear River Limited. 100% equity interest of Clear River Limited is held by a discretionary
                                            trust established by Mr.&nbsp;Wangang Xu (as the settlor). Accordingly, Mr.&nbsp;Wangang
                                            Xu is deemed to be interested in 10,087,955 Class&nbsp;A ordinary shares directly held by
                                            Blossom South Limited by virtue of the SFO. 4,075,188 Class&nbsp;A ordinary shares were held
                                            by Myriad Talent Investment Limited, which is wholly owned by Mr.&nbsp;Wangang Xu.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">As of the Latest Practicable Date, 750,000
                                            Class&nbsp;A ordinary shares were held by Great Polaris Holdings Limited, which is wholly
                                            owned by Mr.&nbsp;Tao Xu. 3,549,999 Class&nbsp;A ordinary shares were held by Ideal Elect
                                            Limited, of which the entire issued share capital is held by a discretionary trust established
                                            by Mr.&nbsp;Tao Xu (as the settlor). Accordingly, Mr.&nbsp;Tao Xu is deemed to be interested
                                            in 3,549,999 Class&nbsp;A ordinary shares directly held by Ideal Elect Limited by virtue
                                            of the SFO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">As of the Latest Practicable Date, 57,222
                                            Class&nbsp;A ordinary shares beneficially owned by Mr.&nbsp;Hansong Zhu included RSUs of
                                            3,750 ADSs (representing 11,250 Class&nbsp;A ordinary shares) and 15,324 ADSs (representing
                                            45,972 Class&nbsp;A ordinary shares) directly held by him.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX</B></FONT><B>
  II</B></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><P STYLE="margin-top: 0; margin-bottom: 0"><B>PROPOSED
                                            AMENDMENTS OF THE MEMORANDUM AND</B></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><B>THE ARTICLES
                                            OF ASSOCIATION</B></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #231f20">Details of the proposed amendments
of the Memorandum and the Articles of Association are set out as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">Clause No.</TD>
    <TD STYLE="width: 90%; font: bold 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">Proposed amendments (showing
    changes to the existing Memorandum)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">Heading</TD><TD STYLE="text-align: center; width: 90%"><B>THE COMPANIES ACT (AS REVISED) </B></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>OF THE CAYMAN ISLANDS</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>COMPANY LIMITED BY SHARES</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B><STRIKE>SIXTHSEVENTH</STRIKE> AMENDED AND RESTATED <BR>
               MEMORANDUM OF ASSOCIATION</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>OF</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>KE HOLDINGS INC.</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center">(adopted by a Special Resolution passed on <STRIKE>August&nbsp;12, 2022[</STRIKE><U>&#9679;]</U>
               and effective immediately)</TD></TR>
                                                                                                                                          </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; color: #231f20; text-align: left">Article&nbsp;No.</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 90%; color: #231f20; text-align: left">Proposed amendments (showing
    changes to the existing Articles of Association)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">Heading</TD><TD STYLE="text-align: center; width: 90%"><B>THE COMPANIES ACT (AS REVISED) </B></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>OF THE CAYMAN ISLANDS</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>COMPANY LIMITED BY SHARES</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B><STRIKE>SIXTHSEVENTH</STRIKE> AMENDED AND RESTATED <BR>
               ARTICLES OF ASSOCIATION</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>OF</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>KE HOLDINGS INC.</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: center">(adopted by a Special Resolution passed on <STRIKE>August&nbsp;12, 2022[</STRIKE><U>&#9679;]</U>
               and effective immediately)</TD></TR>
                                                                                                                                          </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">144</TD><TD STYLE="text-align: justify; width: 90%">The Nomination Committee shall comprise a majority of Independent
                               Non-executive Directors, one of whom shall act as its chairman. <U>At least one member of the Nomination
                               Committee shall be of a different gender.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">172</TD><TD STYLE="text-align: justify; width: 90%">Except as otherwise provided in these Articles, any notice
                               or document may be served by the Company or by the Person entitled to give notice to any Shareholder either
                               personally, or by posting it by airmail or a recognised courier service in a prepaid letter addressed
                               to such Shareholder at his address as appearing in the Register, or by electronic mail to any electronic
                               mail address such Shareholder may have specified in writing for the purpose of such service of notices,
                               or by facsimile to any facsimile number such Shareholder may have specified in writing for the purpose
                               of such service of notices, or by placing it on the Company&rsquo;s Website should the Directors deem
                               it appropriate. In the case of joint holders of a Share, all notices shall be given to that one of the
                               joint holders whose name stands first in the Register in respect of the joint holding, and notice so given
                               shall be sufficient notice to all the joint holders.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                   <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify"><STRIKE>Notices sent from one country to another shall be sent or forwarded by prepaid
               airmail or a recognised courier service.</STRIKE></TD></TR>
                                   </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  III</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><B>EXPLANATORY
  STATEMENT ON THE REPURCHASE MANDATE</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The following
is an explanatory statement required by the Listing Rules&nbsp;to be sent to the Shareholders to enable them to make an informed decision
on whether to vote for or against the ordinary resolution to be proposed at the AGM in relation to the granting of the Repurchase Mandate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>REASONS FOR REPURCHASE OF SHARES AND/OR ADSS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Directors
believe that the granting of the Repurchase Mandate is in the interests of the Company and the Shareholders as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Repurchases
of Shares and/or ADSs may, depending on the market conditions and funding arrangements at the time, lead to an enhancement of the net
asset value per Share and/or earnings per Share. The Directors are seeking the grant of the Repurchase Mandate to give the Company the
flexibility to do so if and when appropriate. The number of Shares and/or ADSs to be repurchased on any occasion and the price and other
terms upon which the same are repurchased will be decided by the Directors at the relevant time, having regard to the circumstances then
pertaining.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Directors
would only exercise the power to repurchase in circumstances where they consider that the repurchase would be in the best interests of
the Company and the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>SHARE CAPITAL</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As at the
Latest Practicable Date, the issued share capital of the Company comprised 3,493,775,978 Shares, out of which 3,356,594,900 were Class&nbsp;A
ordinary shares and 137,181,078 were Class&nbsp;B ordinary shares. Subject to the passing of the ordinary resolution 5 of the notice
of the AGM in respect of the granting of the Repurchase Mandate and on the basis that the issued share capital of the Company (excluding
treasury shares) remains unchanged after the Latest Practicable Date and up to the date of the AGM, i.e. being 3,493,775,978 Shares,
the Directors would be authorized under the Repurchase Mandate to repurchase, during the period in which the Repurchase Mandate remains
in force, up to a maximum of 349,377,597 Shares, representing 10% of the total number of issued Shares (excluding treasury shares) as
at the date of the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As stated
in &ldquo;5. Proposed Grant of General Mandate to Repurchase Shares and/or ADSs&rdquo; in the Letter from the Board, if the Company purchases
any Shares and/or ADSs pursuant to the Repurchase Mandate, the Company will either (i)&nbsp;cancel the Shares and/or Shares underlying
ADSs repurchased and/or (ii)&nbsp;hold such Shares and/or Shares underlying ADSs in treasury, subject to market conditions and the Company&rsquo;s
capital management needs at the relevant time any repurchases of Shares are made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  III</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><B>EXPLANATORY
  STATEMENT ON THE REPURCHASE MANDATE</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">To the extent
that any treasury shares are deposited with Central Clearing and Settlement System (&ldquo;<B>CCASS</B>&rdquo;) pending resale on the
Stock Exchange, the Company will adopt appropriate measures to ensure that it does not exercise any Shareholders&rsquo; rights or receive
any entitlements which would otherwise be suspended under the applicable laws if those Shares were registered in the Company&rsquo;s
own name as treasury shares, which may include approval by the Board that (i)&nbsp;the Company would not (and would procure its broker
not to) give any instructions to Hong Kong Securities Clearing Company Limited to vote at general meetings for the treasury shares deposited
with CCASS; and (ii)&nbsp;in the case of dividends or distributions, the Company will withdraw the treasury shares from CCASS, and either
re-register them in its own name as treasury shares or cancel them, in each case before the record date for the dividends or distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>FUNDING OF REPURCHASES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Repurchases
of Shares and/or ADSs will be funded from the Company&rsquo;s internal resources, which shall be funds legally available for such purpose
in accordance with the Articles of Association, the Listing Rules, the applicable laws of the Cayman Islands and/or any other applicable
laws, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><B>IMPACT OF REPURCHASES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Based on
the current level of trading price of the Company&rsquo;s Shares and ADSs, the Directors believe that there may not be a material adverse
impact on the working capital or gearing position of the Company (as compared with the position disclosed in the audited accounts contained
in the annual report of the Company for the year ended December&nbsp;31, 2025) in the event that the Repurchase Mandate was to be carried
out in full at any time during the proposed repurchase period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Directors
do not intend to exercise the Repurchase Mandate to such an extent as would, in the circumstances, have a material adverse effect on
the working capital requirements of the Company or its gearing levels which, in the opinion of the Directors, are from time to time appropriate
for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD><B>TAKEOVERS CODE</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">If, on the
exercise of the power to repurchase Shares and/or ADSs pursuant to the Repurchase Mandate, a Shareholder&rsquo;s proportionate interest
in the voting rights of the Company increases, such increase will be treated as an acquisition of voting rights for the purposes of the
Takeovers Code. Accordingly, a Shareholder or a group of Shareholders acting in concert (as defined under the Takeovers Code) could obtain
or consolidate control of the Company and thereby become obliged to make a mandatory offer in accordance with Rule&nbsp;26 of the Takeovers
Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  III</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><B>EXPLANATORY
  STATEMENT ON THE REPURCHASE MANDATE</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">As at the
Latest Practicable Date, to the best knowledge and belief of the Directors, the WVR Beneficiaries were Mr.&nbsp;Yongdong Peng and Mr.&nbsp;Yigang
Shan, who beneficially own 133,775,177 Class&nbsp;A ordinary shares and 137,181,078 Class&nbsp;B ordinary shares in total, representing
approximately 31.84% of the voting rights in the Company. Pursuant to Rule&nbsp;8A.15 of the Listing Rules, in the event that the Directors
exercise the Repurchase Mandate, the WVR Beneficiaries must reduce their weighted voting rights in the Company proportionately through
conversion of a proportion of their Class&nbsp;B ordinary shares into Class&nbsp;A ordinary shares, if the reduction in the number of
Shares in issue (after deducting treasury shares) would otherwise result in an increase in the proportion of Class&nbsp;B ordinary shares.
As such, to the best knowledge and belief of the Directors, the exercise of the Repurchase Mandate is not expected to give rise to an
obligation of the WVR Beneficiaries to make a mandatory offer under the Takeovers Code. The Directors have no present intention to repurchase
the Shares and/or ADSs to the extent that will trigger the obligations under the Takeovers Code to make a mandatory offer. The Directors
are not aware of any other consequences which may arise under the Takeovers Code as a result of any purchase by the Company of its Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">In addition,
the Directors do not propose to repurchase Shares and/or ADSs which would result in less than the relevant prescribed minimum percentage
of Shares in public hands as required by the Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD><B>GENERAL</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">None of
the Directors or, to the best of their knowledge having made all reasonable enquiries, any of their respective close associates (as defined
in the Listing Rules) have any present intention to sell any Shares to the Company in the event that the granting of the Repurchase Mandate
is approved by the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Company
has not been notified by any core connected persons (as defined in the Listing Rules) of the Company that they have a present intention
to sell any Shares to the Company, or that they have undertaken not to sell any Shares held by them to the Company in the event that
the granting of the Repurchase Mandate is approved by the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Directors
have undertaken that they will exercise the power of the Company to make repurchases of Shares and/or ADSs pursuant to the Repurchase
Mandate in accordance with the Listing Rules, the applicable laws of the Cayman Islands and the Articles of Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Company
has confirmed that neither the explanatory statement nor the Repurchase Mandate has any unusual features.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  III</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><B>EXPLANATORY
  STATEMENT ON THE REPURCHASE MANDATE</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD><B>MARKET PRICES OF SHARES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The highest
and lowest prices per Share at which the Class&nbsp;A ordinary shares have been traded on the Stock Exchange during each of the previous
12 months preceding up to and including the Latest Practicable Date were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 97%; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Price per
    Share &#8239;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Month</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Highest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><B>Lowest</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">HK$</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">HK$</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 74%">2025</TD><TD STYLE="font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; width: 10%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; width: 10%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif; color: #231f20">April</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">59.30</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">52.50</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">May</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">55.75</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">47.05</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">June</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">52.80</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">46.60</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">July</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">52.85</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">45.50</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">August</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">53.90</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">45.12</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">September</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">53.45</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">45.80</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">October</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">51.00</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">44.02</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">November</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">46.68</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">40.66</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">47.10</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">41.02</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20"><B>2026</B></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52.60</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">41.18</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">February</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">49.96</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">43.24</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">45.56</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">37.50</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">April&nbsp;(up to the Latest Practicable Date)</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">43.38</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">36.80</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>8.</B></TD><TD><B>REPURCHASES OF SHARES MADE BY THE COMPANY</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">During the
six months preceding the Latest Practicable Date, the Company has repurchased a total of 22,246,643 ADSs (representing 66,739,929 Class&nbsp;A
ordinary shares) on the New York Stock Exchange as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 96%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Date
    of Repurchase</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of <BR> Class&nbsp;A <BR>
    Ordinary Shares<BR>
    Represented <BR>
    by ADSs<BR>
    Repurchased</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Highest
    <BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Lowest<BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 54%; font: 10pt Times New Roman, Times, Serif; color: #231f20">November&nbsp;24, 2025</TD>
<TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">522,519</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.77</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.70</TD>
<TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">November&nbsp;25, 2025</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">515,472</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.85</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.75</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">November&nbsp;26, 2025</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">520,713</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.84</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.71</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">November&nbsp;28, 2025</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">519,966</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.81</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.74</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;1, 2025</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">537,456</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.72</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.52</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;2, 2025</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">542,613</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.56</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.49</TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPENDIX
  III</B></FONT></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: right; padding-bottom: 2pt"><B>EXPLANATORY
  STATEMENT ON THE REPURCHASE MANDATE</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 96%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Date
    of Repurchase</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of <BR> Class&nbsp;A <BR>
    Ordinary Shares<BR>
    Represented <BR> by ADSs<BR>
    Repurchased</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Highest
    <BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Lowest<BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 54%; font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;3, 2025</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">539,463</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.58</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.50</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;4, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">530,358</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.55</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;5, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">523,047</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.76</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.69</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;8, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">523,377</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.77</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;9, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">552,642</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.38</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;10, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">528,795</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.71</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.64</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;11, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">512,760</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.88</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.81</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;12, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">519,474</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.82</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.74</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;15, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">540,891</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.68</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.50</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;16, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">545,895</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.52</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.45</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;17, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">545,517</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.58</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.43</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;18, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">557,376</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.45</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.34</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;19, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">560,436</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.37</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.33</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;22, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">557,064</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.42</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.35</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;24, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">557,895</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.36</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;26, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">556,632</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.42</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.36</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;29, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">558,708</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.41</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.35</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;30, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">563,220</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.29</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">December&nbsp;31, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">569,481</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.31</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;2, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">938,955</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.45</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.24</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;5, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">616,191</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.76</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.61</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;6, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">602,154</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.84</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.77</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;7, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">885,921</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.61</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;8, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">609,408</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.79</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.67</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;9, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">616,236</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.75</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;12, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">597,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.89</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.82</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;13, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">615,045</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.80</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.64</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;14, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">604,170</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.85</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.73</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;15, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">598,884</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.90</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.79</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;16, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">603,474</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.84</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.71</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;20, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">589,116</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.07</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.86</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;21, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">495,930</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.13</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;22, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">493,731</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.13</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.04</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;23, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">492,021</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.12</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.07</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">January&nbsp;26, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">497,724</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.06</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">6.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;2, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">905,055</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.61</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.44</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;3, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">911,901</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.54</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.37</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;4, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">618,192</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.61</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;5, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">920,460</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.49</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;6, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">902,907</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.58</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Date
    of Repurchase</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of <BR> Class&nbsp;A <BR>
    Ordinary Shares<BR>
    Represented <BR> by ADSs<BR>
    Repurchased</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Highest
    <BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Lowest<BR>
    Price Per<BR>
    Share</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center">US$</TD><TD STYLE="text-align: center; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 63%; font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;9, 2026</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">915,471</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.53</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.41</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;10, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">895,446</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.64</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.51</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;11, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">687,045</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.73</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;12, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">904,905</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.46</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;13, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">892,689</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.66</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.55</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;16, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">876,903</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.85</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.56</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;17, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">882,087</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.83</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.61</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;18, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">907,854</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.58</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;18, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">180,159</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.58</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.50</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;19, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">933,300</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.41</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.30</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;20, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,505,964</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.34</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.28</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;23, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,545,804</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.07</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;24, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,553,808</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.21</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.09</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;25, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,506,447</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.28</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.20</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;26, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,549,845</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.22</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.10</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;27, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,561,263</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.16</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.10</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;30, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,978,932</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.10</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">March&nbsp;31, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">2,448,390</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.81</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;1, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,807,566</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.09</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.94</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;2, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,829,910</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.86</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;6, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,393,680</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.05</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.94</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;7, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,394,757</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.07</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">4.97</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;8, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,339,551</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.30</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.15</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;9, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,336,008</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.27</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.20</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;10, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,327,233</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.32</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.19</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;13, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,331,973</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.28</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.20</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;14, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">727,830</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.54</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;15, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">735,444</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.39</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;16, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">736,578</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.37</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;17, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">737,058</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.48</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.34</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;20, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">731,112</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.50</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.39</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">April&nbsp;21, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">739,947</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.47</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.36</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; padding-bottom: 1pt">April&nbsp;22, 2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">1,227,948</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.42</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">5.32</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #231f20; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; color: #231f20; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: #231f20; text-align: right">66,739,929</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; color: #231f20; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20"><I>Hong
Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,
make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2612586d3_ex99-5img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><I>(A company controlled through
weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>(Stock Code: 2423)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>NOTICE OF ANNUAL GENERAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20">to be held on Friday, June&nbsp;12,
2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20">(or any adjourned or postponed
meeting thereof)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">We refer
to the circular (the &ldquo;<B>Circular</B>&rdquo;) of KE Holdings Inc. (the &ldquo;<B>Company</B>&rdquo;) dated April&nbsp;24, 2026.
Unless otherwise indicated, the capitalized terms used in this notice shall have the same meaning as those defined in the Circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20"><B>NOTICE
IS HEREBY GIVEN </B>that an annual general meeting (the &ldquo;<B>AGM</B>&rdquo;) of the Company will be held at 3:00 p.m., Beijing time
on Friday, June&nbsp;12, 2026 at Oriental Electronic Technology Building, No.&nbsp;2 Chuangye Road, Haidian District, Beijing, PRC for
the purposes of considering and, if thought fit, passing each of the following resolutions (the &ldquo;<B>Proposed Resolutions</B>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">as an ordinary resolution, to receive,
                                            consider, and adopt the audited consolidated financial statements of the Company as of and
                                            for the year ended December&nbsp;31, 2025 and the report of the auditors thereon;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>as an ordinary resolution, to re-elect the following Directors:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="width: 0.25in">(i)</TD>
                                                                 <TD>to re-elect Mr.&nbsp;Wangang Xu as an executive Director;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>to re-elect Mr.&nbsp;Tao Xu as an executive Director;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>to re-elect Mr.&nbsp;Hansong Zhu as an independent non-executive
                                            Director; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>to authorize the Board to fix the remuneration of the Directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">as a special resolution, THAT the Memorandum
                                            and the Articles of Association be amended (details of which are set out in Appendix II to
                                            the Circular) and restated by their deletion in their entirety and by the substitution in
                                            their place of the seventh amended and restated memorandum and articles of association of
                                            the Company (the &ldquo;<B>New Articles of Association</B>&rdquo;) and THAT the Board be
                                            authorized to deal with on behalf of the Company the relevant filing and amendments (where
                                            necessary), procedures and other related issues arising from the adoption of the New Articles
                                            of Association;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in">4.</TD><TD STYLE="text-align: justify">as
                                            an ordinary resolution, THAT:&ndash;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">subject
                                            to paragraph (c)&nbsp;below, a general unconditional mandate be and is hereby given to the
                                            Directors during the Relevant Period (as defined in paragraph (d)&nbsp;below) to exercise
                                            all the powers of the Company to allot, issue, and deal with additional Class&nbsp;A ordinary
                                            shares or securities convertible into Class&nbsp;A ordinary shares, or options, warrants,
                                            or similar rights to subscribe for Class&nbsp;A ordinary shares or such convertible securities
                                            of the Company (other than issuance of options, warrants, or similar rights to subscribe
                                            for additional Class&nbsp;A ordinary shares or securities convertible into Class&nbsp;A ordinary
                                            shares for cash consideration) and to make or grant offers, agreements, or options (including
                                            any warrants, bonds, notes, and debentures conferring any rights to subscribe for or otherwise
                                            receive Class&nbsp;A ordinary shares) that would or might require the exercise of such powers;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">the
                                            mandate in paragraph (a)&nbsp;above shall be in addition to any other authorization given
                                            to the Directors and shall authorize the Directors to make or grant offers, agreements, and/or
                                            options during the Relevant Period that would or might require the exercise of such powers
                                            after the end of the Relevant Period;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">the
                                            total number of Class&nbsp;A ordinary shares allotted or agreed conditionally or unconditionally
                                            to be allotted and issued (whether pursuant to options or otherwise) in paragraph (a)&nbsp;above,
                                            otherwise than pursuant to:</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(i)</TD><TD STYLE="text-align: justify">a
                                            Rights Issue (as defined in paragraph (d)&nbsp;below);</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the
                                            grant or exercise of any options under any share option scheme of the Company or any other
                                            option scheme or similar arrangements for the time being adopted for the grant or issue to
                                            the directors, officers, and/or employee of the Group and/or other eligible participants
                                            specified thereunder of options to subscribe for Class&nbsp;A ordinary shares or rights to
                                            acquire Class&nbsp;A ordinary shares;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>the vesting of restricted shares and restricted share units granted
                                            or to be granted pursuant to the 2020 Plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD>any scrip dividend or similar arrangement providing for the allotment
                                            and issue of Shares in lieu of the whole or part of a dividend on Shares of the Company in
                                            accordance with the Memorandum and the Articles of Association; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD>a specific authority granted by the Shareholders of the Company
                                            in general meeting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; color: #231f20">shall not exceed 20%
of the total number of issued Shares (excluding treasury shares) of the Company as of the date of the passing of this resolution (such
total number to be subject to adjustment in the case of any consolidation or subdivision of any of the Shares of the Company into a smaller
or larger number of Shares of the Company respectively after the passing of this resolution) and the said mandate shall be limited accordingly;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>for the purposes of this resolution:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; color: #231f20">&ldquo;<B>Relevant
Period</B>&rdquo; means the period from the passing of this resolution until the earliest of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the conclusion of the next annual general meeting of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>the expiration of the period within which the next annual general
                                            meeting of the Company is required to be held by the Memorandum and the Articles of Association
                                            or any applicable laws and regulations; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>the date on which the authority set out in this resolution is
                                            revoked or varied by an ordinary resolution of the Shareholders in general meeting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; color: #231f20">&ldquo;<B>Rights Issue</B>&rdquo;
means an offer of Shares of the Company, or an offer or issue of warrants, options, or other securities giving rights to subscribe for
Shares of the Company, open for a period fixed by the Directors to Shareholders of the Company whose names appear on the register of
members of the Company on a fixed record date in proportion to their then holdings of such Shares of the Company (subject to such exclusions
or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements or having regard to any
restrictions or obligations under the laws of, or the requirements of any recognized regulatory body or any stock exchange in, any territory
applicable to the Company);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; color: #231f20">Any reference to an
allotment, issue, grant, offer or disposal of Class&nbsp;A ordinary shares shall include the sale or transfer of treasury shares in the
capital of the Company (including to satisfy any obligation upon the conversion or exercise of any convertible securities, options, warrants
or similar rights to subscribe for Class&nbsp;A ordinary shares), to the extent permitted by, and subject to the provisions of, the Listing
Rules&nbsp;and applicable laws and regulations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>as an ordinary resolution, THAT:&ndash;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">a general unconditional mandate be and is hereby given to the Directors
                                            during the Relevant Period (as defined in paragraph (b)&nbsp;below) to exercise all the powers
                                            of the Company to purchase its own Shares and/or ADSs on the Stock Exchange or on any other
                                            stock exchange on which the securities of the Company are or may be listed and which is recognized
                                            by the Securities and Futures Commission of Hong Kong and the Stock Exchange for this purpose,
                                            provided that the total number of Shares and/or Shares underlying the ADSs of the Company
                                            that may be purchased pursuant to this mandate shall not exceed 10% of the total number of
                                            the issued Shares (excluding treasury shares) of the Company as of the date of passing of
                                            this resolution (such total number to be subject to adjustment in the case of any consolidation
                                            or subdivision of any of the Shares into a smaller or larger number of Shares respectively
                                            after the passing of this resolution) and the said mandate shall be limited accordingly;
                                            and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>for the purposes of this resolution:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; color: #231f20">&ldquo;<B>Relevant
Period</B>&rdquo; means the period from the passing of this resolution until the earliest of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the conclusion of the next annual general meeting of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the expiration of the period within which the next annual general
                                            meeting of the Company is required to be held by the Memorandum and the Articles of Association
                                            or any applicable laws and regulations; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the date on which the authority set out in this resolution is
                                            revoked or varied by an ordinary resolution of the Shareholders in general meeting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">as an ordinary resolution, THAT conditional upon the passing of resolutions
                                            4 and 5 of this notice, the general mandate referred to in the resolution 4 of this notice
                                            be and is hereby extended by the addition to the aggregate number of Shares that may be allotted
                                            and issued or agreed conditionally or unconditionally to be allotted and issued by the Directors
                                            pursuant to such general mandate of the number of Shares and/or Share underlying the ADSs
                                            repurchased by the Company pursuant to the mandate referred to in the resolution 5 of this
                                            notice, provided that such amount shall not exceed 10% of the total number of the issued
                                            Shares (excluding treasury shares) of the Company as at the date of the passing of this resolution
                                            (such total number to be subject to adjustment in the case of any consolidation or subdivision
                                            of any of the Shares into a smaller or larger number of Shares respectively after the passing
                                            of this resolution); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">as an ordinary resolution, to re-appoint PricewaterhouseCoopers and
                                            PricewaterhouseCoopers Zhong Tian LLP as auditors of the Company to hold office until the
                                            conclusion of the next annual general meeting of the Company and to authorize the Board to
                                            fix their remuneration for the year ending December&nbsp;31, 2026.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>Share Record Date and ADS Record Date</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">The Board
has fixed the close of business on May&nbsp;12, 2026, Hong Kong time, as the record date (the &ldquo;<B>Share Record Date</B>&rdquo;)
of Class&nbsp;A ordinary shares and Class&nbsp;B ordinary shares. Holders of record of the Company&rsquo;s Shares (as of the Share Record
Date) are entitled to attend and vote at the AGM and any adjourned meeting thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Holders
of record of ADSs as of the close of business on May&nbsp;12, 2026, New York time (the &ldquo;<B>ADS Record Date</B>&rdquo;), who wish
to exercise their voting rights for the ADSs underlying Class&nbsp;A ordinary shares must give voting instructions directly to The Bank
of New York Mellon, the depositary of the ADSs, if the ADSs are held by holders on the books and records of the depositary, or indirectly
through a bank, brokerage or other securities intermediary, if the ADSs are held by any of them on behalf of holders of the ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">In order
to be eligible to vote and attend the AGM, with respect to the Shares registered on the Company&rsquo;s share registrar in Hong Kong,
all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged with the Company&rsquo;s
share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183
Queen&rsquo;s Road East, Wan Chai, Hong Kong, no later than 4:30 p.m.&nbsp;on Tuesday, May&nbsp;12, 2026, Hong Kong time; and with respect
to the Shares registered on the Company&rsquo;s principal share register in the Cayman Islands, all valid documents for the transfers
of shares accompanied by the relevant share certificates must be lodged with the Company&rsquo;s principal share registrar, Harneys Fiduciary
(Cayman) Limited, at 4th Floor, Harbour Place, 103 South Church Street, P.O.&nbsp;Box 10240, Grand Cayman KY1-1002, Cayman Islands, no
later than 6:00 p.m.&nbsp;on Monday, May&nbsp;11, 2026, Cayman Islands time (due to the time difference between Cayman Islands and Hong
Kong). All persons who are registered holders of the Shares on the Share Record Date will be entitled to vote and attend the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 2pt; padding-bottom: 2pt">NOTICE
    OF THE ANNUAL GENERAL MEETING</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>Proxy Forms and ADS Voting Cards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">A holder
of Shares as of the Share Record Date may appoint proxy(ies) to exercise his or her rights at the AGM. A holder of ADSs as of the ADS
Record Date will need to instruct The Bank of New York Mellon directly, the depositary of the ADSs, if the ADSs are held by holders on
the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary, if the ADSs are held
by any of them on behalf of holders of the ADSs, as to how to vote the Class&nbsp;A ordinary shares represented by the ADSs. Please refer
to the proxy form (for holders of Shares) or ADS voting card (for holders of ADSs). The proxy form is available on our website at <I>investors.ke.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20">Holders
of record of the Company&rsquo;s Shares on the Company&rsquo;s register of members as of the Share Record Date are entitled to attend
the AGM in person. Your vote is important. You are urged to complete, sign, date, and return the accompanying proxy form to us (for holders
of Shares) or your voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, if the ADSs are held by holders
on the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary, if the ADSs are
held by any of them on behalf of holders of the ADSs, as the case may be, as promptly as possible and before the prescribed deadline
if you wish to exercise your voting rights. We must receive the proxy form by no later than 3:00 p.m., Hong Kong time, on Wednesday,
June&nbsp;10, 2026 at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wanchai, Hong Kong; and The Bank of New York Mellon must
receive your voting instructions by the time and date specified in the ADS voting instruction card to enable the votes attaching to the
Class&nbsp;A ordinary shares represented by your ADSs to be cast at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    Order of the Board</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>KE
    Holdings Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Yongdong
    Peng</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Chairman
    and Chief Executive Officer</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Corporate
    Headquarters:</I></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Registered
    Office:</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oriental Electronic Technology
    Building</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Harneys Fiduciary (Cayman)
    Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.&nbsp;2 Chuangye Road</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4th Floor, Harbour Place</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haidian District</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">103 South Church Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beijing 100086</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P.O.&nbsp;Box 10240</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grand Cayman KY1-1002</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman Islands</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20">April&nbsp;24, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231f20"><I>As at
the date of this notice, the board of directors of the Company comprises Mr.&nbsp;Yongdong Peng, Mr.&nbsp;Yigang Shan, Mr.&nbsp;Wangang
Xu and Mr.&nbsp;Tao Xu as the executive directors, Mr.&nbsp;Jeffrey Zhaohui Li as the non-executive director, and Ms.&nbsp;Xiaohong Chen,
Mr.&nbsp;Hansong Zhu and Mr.&nbsp;Jun Wu as the independent non-executive directors.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>tm2612586d3_ex99-4.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.4</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>Hong
Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,
make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT><IMG SRC="tm2612586d3_ex99-4img001.jpg" ALT=""></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>KE
Holdings Inc.</B></FONT></P>

<P STYLE="text-align: center; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&#35997;&nbsp;&#27580;&nbsp;&#25511;&nbsp;&#32929;&nbsp;&#26377;&nbsp;&#38480;&nbsp;&#20844;&nbsp;&#21496;</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><I>(A
company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(Stock
Code: 2423)</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>NOTICE
OF ANNUAL GENERAL MEETING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">to
be held on Friday, June&nbsp;12, 2026</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">(or any adjourned
or postponed meeting thereof)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">We
refer to the circular (the &ldquo;<B>Circular</B>&rdquo;) of KE Holdings Inc. (the &ldquo;<B>Company</B>&rdquo;) dated April&nbsp;24,
2026. Unless otherwise indicated, the capitalized terms used in this notice shall have the same meaning as those defined in the Circular.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B>NOTICE
IS HEREBY GIVEN </B>that an annual general meeting (the &ldquo;<B>AGM</B>&rdquo;) of the Company will be held at 3:00 p.m., Beijing time
on Friday, June&nbsp;12, 2026 at Oriental Electronic Technology Building, No.&nbsp;2 Chuangye Road, Haidian District, Beijing, PRC for
the purposes of considering and, if thought fit, passing each of the following resolutions (the &ldquo;<B>Proposed Resolutions</B>&rdquo;):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            an ordinary resolution, to receive, consider, and adopt the audited consolidated financial
                                            statements of the Company as of and for the year ended December&nbsp;31, 2025 and the report
                                            of the auditors thereon;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            an ordinary resolution, to re-elect the following Directors:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(i)&nbsp;
                                            to re-elect Mr.&nbsp;Wangang Xu as an executive Director;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to
                                            re-elect Mr.&nbsp;Tao Xu as an executive Director;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to
                                            re-elect Mr.&nbsp;Hansong Zhu as an independent non-executive Director; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to
                                            authorize the Board to fix the remuneration of the Directors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            a special resolution, THAT the Memorandum and the Articles of Association be amended (details
                                            of which are set out in Appendix II to the Circular) and restated by their deletion in their
                                            entirety and by the substitution in their place of the seventh amended and restated memorandum
                                            and articles of association of the Company (the &ldquo;<B>New Articles of Association</B>&rdquo;)
                                            and THAT the Board be authorized to deal with on behalf of the Company the relevant filing
                                            and amendments (where necessary), procedures and other related issues arising from the adoption
                                            of the New Articles of Association;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            an ordinary resolution, THAT:&ndash;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">subject
                                            to paragraph (c)&nbsp;below, a general unconditional mandate be and is hereby given to the
                                            Directors during the Relevant Period (as defined in paragraph (d)&nbsp;below) to exercise
                                            all the powers of the Company to allot, issue, and deal with additional Class&nbsp;A ordinary
                                            shares or securities convertible into Class&nbsp;A ordinary shares, or options, warrants,
                                            or similar rights to subscribe for Class&nbsp;A ordinary shares or such convertible securities
                                            of the Company (other than issuance of options, warrants, or similar rights to subscribe
                                            for additional Class&nbsp;A ordinary shares or securities convertible into Class&nbsp;A ordinary
                                            shares for cash consideration) and to make or grant offers, agreements, or options (including
                                            any warrants, bonds, notes, and debentures conferring any rights to subscribe for or otherwise
                                            receive Class&nbsp;A ordinary shares) that would or might require the exercise of such powers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            mandate in paragraph (a)&nbsp; above shall be in addition to any other authorization
given to the Directors and shall authorize the Directors to make or grant offers, agreements, and/or options during the Relevant Period
that would or might require the exercise of such powers after the end of the Relevant Period;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            total number of Class&nbsp;A ordinary shares allotted or agreed conditionally or unconditionally
                                            to be allotted and issued (whether pursuant to options or otherwise) in paragraph (a)&nbsp;above,
                                            otherwise than pursuant to:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            Rights Issue (as defined in paragraph (d)&nbsp;below);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            grant or exercise of any options under any share option scheme of the Company or any other
                                            option scheme or similar arrangements for the time being adopted for the grant or issue to
                                            the directors, officers, and/or employee of the Group and/or other eligible participants
                                            specified thereunder of options to subscribe for Class&nbsp;A ordinary shares or rights to
                                            acquire Class&nbsp;A ordinary shares;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            vesting of restricted shares and restricted share units granted or to be granted pursuant
                                            to the 2020 Plan;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            scrip dividend or similar arrangement providing for the allotment and issue of Shares in
                                            lieu of the whole or part of a dividend on Shares of the Company in accordance with the Memorandum
                                            and the Articles of Association; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            specific authority granted by the Shareholders of the Company in general meeting;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 10pt">shall
not exceed 20% of the total number of issued Shares (excluding treasury shares) of the Company as of the date of the passing of this
resolution (such total number to be subject to adjustment in the case of any consolidation or subdivision of any of the Shares of the
Company into a smaller or larger number of Shares of the Company respectively after the passing of this resolution) and the said mandate
shall be limited accordingly; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">for
                                            the purposes of this resolution:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Relevant
Period</B>&rdquo; means the period from the passing of this resolution until the earliest of:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            conclusion of the next annual general meeting of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            expiration of the period within which the next annual general meeting of the Company is required
                                            to be held by the Memorandum and the Articles of Association or any applicable laws and regulations;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            date on which the authority set out in this resolution is revoked or varied by an ordinary
                                            resolution of the Shareholders in general meeting;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Rights
Issue</B>&rdquo; means an offer of Shares of the Company, or an offer or issue of warrants, options, or other securities giving rights
to subscribe for Shares of the Company, open for a period fixed by the Directors to Shareholders of the Company whose names appear on
the register of members of the Company on a fixed record date in proportion to their then holdings of such Shares of the Company (subject
to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements or having
regard to any restrictions or obligations under the laws of, or the requirements of any recognized regulatory body or any stock exchange
in, any territory applicable to the Company);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><FONT STYLE="font-size: 10pt">Any
reference to an allotment, issue, grant, offer or disposal of Class A <FONT STYLE="font-family: Times New Roman, Times, Serif">ordinary&nbsp;shares&nbsp;shall
include&nbsp;the&nbsp;sale or&nbsp;transfer&nbsp;of treasury shares&nbsp;in the capital&nbsp;of the Company&nbsp;(including&nbsp;to&nbsp;satisfy&nbsp;any
obligation&nbsp;upon the conversion or exercise&nbsp;of&nbsp;any&nbsp;convertible&nbsp;securities, options,
warrants or similar rights to subscribe for Class&nbsp;A ordinary shares), to the extent permitted by, and subject to the provisions
of, the Listing Rules&nbsp;and applicable laws and regulations;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            an ordinary resolution, THAT:&ndash;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            general unconditional mandate be and is hereby given to the Directors during the Relevant
                                            Period (as defined in paragraph (b)&nbsp;below) to exercise all the powers of the Company
                                            to purchase its own Shares and/or ADSs on the Stock Exchange or on any other stock exchange
                                            on which the securities of the Company
are or may be listed and which is recognized by the Securities and Futures Commission of Hong Kong and the Stock Exchange for this purpose,
provided that the total number of Shares and/or Shares underlying the ADSs of the Company that may be purchased pursuant to this mandate
shall not exceed 10% of the total number of the issued Shares (excluding treasury shares) of the Company as of the date of passing of
this resolution (such total number to be subject to adjustment in the case of any consolidation or subdivision of any of the Shares into
a smaller or larger number of Shares respectively after the passing of this resolution) and the said mandate shall be limited accordingly;
and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
the purposes of this resolution:</FONT></TD>
</TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Relevant
Period</B>&rdquo; means the period from the passing of this resolution until the earliest of:</FONT></FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the conclusion of the next
    annual general meeting of the Company;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 0.25in; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the expiration of the period
    within which the next annual general meeting of the Company is required
    to be held by the Memorandum and the Articles of Association or
    any applicable laws and regulations; and</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
date on which the authority set out in this resolution is revoked or varied by an ordinary resolution of the Shareholders in general
meeting;</FONT></TD>
</TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
an ordinary resolution, THAT conditional upon the passing of resolutions 4 and 5 of this notice, the general mandate referred to in the
resolution 4 of this notice be and is hereby extended by the addition to the aggregate number of Shares that may be allotted and issued
or agreed conditionally or unconditionally to be allotted and issued by the Directors pursuant to such general mandate of the number
of Shares and/or Share underlying the ADSs repurchased by the Company pursuant to the mandate referred to in the resolution 5 of this
notice, provided that such amount shall not exceed 10% of the total number of the issued Shares (excluding treasury shares) of the Company
as at the date of the passing of this resolution (such total number to be subject to adjustment in the case of any consolidation or subdivision
of any of the Shares into a smaller or larger number of Shares respectively after the passing of this resolution); and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            an ordinary resolution, to re-appoint PricewaterhouseCoopers and PricewaterhouseCoopers Zhong
                                            Tian LLP as auditors of the Company to hold office until the conclusion of the next annual
                                            general meeting of the Company and to authorize the Board to fix their remuneration for the
                                            year ending December&nbsp;31, 2026.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Share Record Date
and ADS Record Date</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The
Board has fixed the close of business on May&nbsp;12, 2026, Hong Kong time, as the record date (the &ldquo;<B>Share Record Date</B>&rdquo;)
of Class&nbsp;A ordinary shares and Class&nbsp;B ordinary shares. Holders of record of the Company&rsquo;s Shares (as of the Share Record
Date) are entitled to attend and vote at the AGM and any adjourned meeting thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Holders
of record of ADSs as of the close of business on May&nbsp;12, 2026, New York time (the &ldquo;<B>ADS Record Date</B>&rdquo;), who wish
to exercise their voting rights for the ADSs underlying Class&nbsp;A ordinary shares must give voting instructions directly to The Bank
of New York Mellon, the depositary of the ADSs, if the ADSs are held by holders on the books and records of the depositary, or indirectly
through a bank, brokerage or other securities intermediary, if the ADSs are held by any of them on behalf of holders of the ADSs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">In
order to be eligible to vote and attend the AGM, with respect to the Shares registered on the Company&rsquo;s share registrar in Hong
Kong, all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged with the Company&rsquo;s
share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183
Queen&rsquo;s Road East, Wan Chai, Hong Kong, no later than 4:30 p.m.&nbsp;on Tuesday, May&nbsp;12, 2026, Hong Kong time; and with respect
to the Shares registered on the Company&rsquo;s principal share register in the Cayman Islands, all valid documents for the transfers
of shares accompanied by the relevant share certificates must be lodged with the Company&rsquo;s principal share registrar, Harneys Fiduciary
(Cayman) Limited, at 4th Floor, Harbour Place, 103 South Church Street, P.O.&nbsp;Box 10240, Grand Cayman KY1-1002, Cayman Islands, no
later than 6:00 p.m.&nbsp;on Monday, May&nbsp;11, 2026, Cayman Islands time (due to the time difference between Cayman Islands and Hong
Kong). All persons who are registered holders of the Shares on the Share Record Date will be entitled to vote and attend the AGM.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Proxy Forms and ADS
Voting Cards</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">A
holder of Shares as of the Share Record Date may appoint proxy(ies) to exercise his or her rights at the AGM. A holder of ADSs as of
the ADS Record Date will need to instruct The Bank of New York Mellon directly, the depositary of the ADSs, if the ADSs are held by holders
on the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary, if the ADSs are
held by any of them on behalf of holders of the ADSs, as to how to vote the Class&nbsp;A ordinary shares represented by the ADSs. Please
refer to the proxy form (for holders of Shares) or ADS voting card (for holders of ADSs). The proxy form is available on our website
at <I>investors.ke.com</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Holders
of record of the Company&rsquo;s Shares on the Company&rsquo;s register of members as of the Share Record Date are entitled to attend
the AGM in person. Your vote is important. You are urged to complete, sign, date, and return the accompanying proxy form to us (for holders
of Shares) or your voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, if the ADSs are held by holders
on the books and records of the depositary, or indirectly through a bank, brokerage or other securities intermediary, if the ADSs are
held by any of them on behalf of holders of the ADSs, as the case may be, as promptly as possible and before the prescribed deadline
if you wish to exercise your voting rights. We must receive the proxy form by no later than 3:00 p.m., Hong Kong time, on Wednesday,
June&nbsp;10, 2026 at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wanchai, Hong Kong; and The Bank of New York Mellon must
receive your voting instructions by the time and date specified in the ADS voting instruction card to enable the votes attaching to the
Class&nbsp;A ordinary shares represented by your ADSs to be cast at the AGM.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By Order of
    the Board</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>KE Holdings Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Yongdong Peng</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Chairman and Chief Executive
    Officer</I></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Corporate Headquarters:</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Registered Office:</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oriental</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electronic&nbsp;&nbsp;Technology&nbsp;&nbsp;Building</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Harneys Fiduciary (Cayman)
    Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.&nbsp;2 Chuangye Road</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4th Floor, Harbour Place</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haidian</FONT></TD>
    <TD STYLE="width: 44%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">District</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">103 South Church Street</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beijing</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100086</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P.O.&nbsp;Box 10240</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grand Cayman KY1-1002</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman Islands</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">April&nbsp;24, 2026</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><I>As
at the date of this notice, the board of directors of the Company comprises Mr.&nbsp;Yongdong Peng, Mr.&nbsp;Yigang Shan, Mr.&nbsp;Wangang
Xu and Mr.&nbsp;Tao Xu as the executive directors, Mr.&nbsp;Jeffrey Zhaohui Li as the non-executive director, and Ms.&nbsp;Xiaohong Chen,
Mr.&nbsp;Hansong Zhu and Mr.&nbsp;Jun Wu as the independent non-executive directors.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>tm2612586d3_ex99-5.htm
<DESCRIPTION>EXHIBIT 99.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 99.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2612586d3_ex99-5img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: rgb(35,31,32)"><B>&#35997;&#27580;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><I>(A company controlled through
weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>(Stock Code: 2423)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="font-size: 10pt; border-right: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-left: 2pt; white-space: nowrap; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
    of shares to which this </B></FONT></TD>
    <TD STYLE="font-size: 10pt; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 25%"><FONT STYLE="font-size: 10pt">&nbsp;______<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Class
    A ordinary shares</FONT></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>form
    of proxy relates</B><I><SUP>(Note 1)</SUP></I></FONT></TD>
    <TD STYLE="font-size: 10pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">&nbsp;______<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Class
    B ordinary shares</FONT></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>FORM OF
PROXY FOR THE ANNUAL GENERAL MEETING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">to be held on Friday,
June 12, 2026</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(or any adjournment(s)
or postponement(s) thereof)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 6%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">I/We<I><SUP>(Note
    2)</SUP>&nbsp;</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: italic 10pt Times New Roman, Times, Serif; width: 94%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">of</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 98%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 15%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">being
    the registered holder(s) of&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 85%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
A ordinary shares/Class B ordinary shares<I><SUP>(Note 3)</SUP></I> in the issued share capital of <B>KE Holdings Inc. </B>(the </FONT><FONT STYLE="font-size: 10pt">&ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Company</B></FONT>&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif">)
hereby appoint the chairman of the meeting<I><SUP>(Note 4)</SUP></I></FONT></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">or</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 98%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">of</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 98%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
my/our proxy to attend, act, and vote for me/us and on my/our behalf as directed below at the annual general meeting (the </FONT><FONT STYLE="font-size: 10pt">&ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>AGM</B></FONT>&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif">)
of the Company to be held at 3:00 p.m., Beijing time, on Friday, June 12, 2026 at Oriental Electronic Technology Building, No. 2 Chuangye
Road, Haidian District, Beijing, PRC (and at any adjournment thereof).</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please tick (&ldquo;/&rdquo;) the appropriate boxes to indicate how
you wish your vote(s)&nbsp;to be cast<I><SUP>(Note 5)</SUP></I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 2pt; border: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20"><B>RESOLUTIONS</B><I><SUP>(Note
    6)</SUP></I></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 12.2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20"><B>FOR</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 2.55pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20"><B>AGAINST</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: #231F20 1pt solid; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-left: 3.65pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20"><B>ABSTAIN</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; width: 5%; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">1.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; text-align: justify; width: 71%; border-bottom: #231F20 1pt solid; border-right: #231F20 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to receive, consider, and adopt the audited consolidated financial statements of the Company as of and for
    the year ended December&nbsp;31, 2025 and the report of the auditors thereon.</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 8%; border-bottom: #231F20 1pt solid; border-right: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 8%; border-bottom: #231F20 1pt solid; border-right: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 8%; border-bottom: #231F20 1pt solid; border-right: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; padding-left: 5.95pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">2(a).</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">(i)&nbsp;
    As an ordinary resolution, to re-elect Mr.&nbsp;Wangang Xu as an executive Director.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">(ii)&nbsp;As
    an ordinary resolution, to re-elect Mr.&nbsp;Tao Xu as an executive Director.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">(iii)&nbsp;As
    an ordinary resolution, to re-elect Mr.&nbsp;Hansong Zhu as an independent non-executive Director.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">2(b).</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to authorize the Board to fix the remuneration of the Directors.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">3.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    a special resolution, to amend the Memorandum and the Articles of Association (details of which are set out in Appendix II to the
    Circular) and to authorize the Board to deal with on behalf of the Company the relevant filing and amendments (where necessary),
    procedures and other related issues.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">4.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to grant a general mandate to the Directors to issue, allot, and deal with additional Class&nbsp;A ordinary
    shares of the Company not exceeding 20% of the total number of issued Shares (excluding treasury shares) of the Company as of the
    date of passing of this resolution.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">5.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to grant a general mandate to the Directors to repurchase Shares and/or ADSs of the Company representing
    up to 10% of the total number of issued Shares (excluding treasury shares) of the Company as of the date of passing of this resolution.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">6.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to extend the general mandate granted to the Directors to issue, allot, and deal with additional Shares in
    the share capital of the Company by the aggregate number of the Shares and/or Shares underlying the ADSs repurchased by the Company.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; border-left: #231F20 1pt solid; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">7.</FONT></TD>
    <TD STYLE="padding: 2pt 5.95pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">As
    an ordinary resolution, to re-appoint PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian LLP as auditors of the Company
    to hold office until the conclusion of the next annual general meeting of the Company and to authorize the Board to fix their remuneration
    for the year ending December&nbsp;31, 2026.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-right: #231F20 1pt solid; border-bottom: #231F20 1pt solid; padding-bottom: 2pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 5%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 30%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 5%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;2026</FONT></TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 10%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 10%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Signature(s)<I><SUP>(Note
    7)</SUP></I> :</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: italic 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 40%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><I>Notes:</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Please delete as appropriate and insert the
                                            number of shares to which this form of proxy relates. If no number is inserted, this form
                                            of proxy will be deemed to relate to all the shares of the Company registered in your name(s).
                                            If more than one proxy is appointed, the number of shares in respect of which each such proxy
                                            so appointed must be specified.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">2.</TD><TD STYLE="text-align: justify">Full
                                            name(s)&nbsp;and address(es) to be inserted in <B>BLOCK CAPITALS</B>.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">3.</TD><TD STYLE="text-align: justify">Please
                                            insert the number of shares of the Company registered in your name(s)&nbsp;and delete as
                                            appropriate.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">4.</TD><TD STYLE="text-align: justify">If
                                            any proxy other than the chairman of the meeting is preferred, please strike out the words
                                            &ldquo;the chairman of the meeting&rdquo; and insert the name and address of the proxy desired
                                            in the space provided. Any shareholder of the Company entitled to attend and vote at the
                                            AGM is entitled to appoint proxy, and any shareholder of the Company who is the holder of
                                            two or more Shares and entitled to attend and vote at the AGM is able to appoint any number
                                            of proxies (who must be individuals) to attend and vote instead of him/her. A proxy need
                                            not be a shareholder of the Company.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>IMPORTANT:
                                            IF YOU WISH TO VOTE FOR A RESOLUTION, PLEASE TICK (&ldquo;/&rdquo;) THE BOX MARKED &ldquo;FOR.&rdquo;
                                            IF YOU WISH TO VOTE AGAINST A RESOLUTION, PLEASE TICK (&ldquo;/&rdquo;) THE BOX MARKED &ldquo;AGAINST.&rdquo;
                                            IF YOU WISH TO ABSTAIN FROM VOTING, PLEASE TICK (&ldquo;/&rdquo;) THE BOX MARKED &ldquo;ABSTAIN&rdquo;.</B>
                                            If no direction is given, your proxy will vote or abstain at his/her discretion. Your proxy
                                            will also be entitled to vote at his/her discretion on any resolution properly put to the
                                            AGM other than those referred to in the notice convening the AGM. If you mark the box &ldquo;abstain,&rdquo;
                                            it will mean that your proxy will abstain from voting and, accordingly, your vote will not
                                            be counted either for or against the relevant resolution.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">6.</TD><TD STYLE="text-align: justify">We
                                            refer to the circular (the &ldquo;<B>Circular</B>&rdquo;) and notice of the AGM of the Company
                                            dated April&nbsp;24, 2026. Unless otherwise indicated, the capitalized terms used in this
                                            form of proxy shall have the same meaning as those defined in the Circular and the notice
                                            of the AGM. The description of the resolutions is by way of summary only. The full text appears
                                            in the notice of the AGM.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">7.</TD><TD STYLE="text-align: justify">This
                                            form of proxy must be signed by you or your attorney duly authorized in writing. In case
                                            of a corporation, the same must be either under its common seal or under the hand of an officer,
                                            attorney, or other person duly authorized. <B>ANY ALTERATION MADE TO THIS FORM&nbsp;OF PROXY
                                            MUST BE INITIALED BY THE PERSON WHO SIGNS IT</B>.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">8.</TD><TD STYLE="text-align: justify">Where
                                            there are joint registered holders of any share, any one of such persons may vote at the
                                            meeting, either personally or by proxy, in respect of such share as if he/she were solely
                                            entitled thereto; but if more than one of such joint holders be present at the meeting personally
                                            or by proxy, that one of the said persons so present being the most or, as the case may be,
                                            the more senior shall alone be entitled to vote in respect of the relevant joint holding
                                            and, for this purpose, seniority shall be determined by reference to the order in which the
                                            names of the joint holders stand on the register of members in respect of the relevant joint
                                            holding.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">9.</TD><TD STYLE="text-align: justify">In
                                            order to be valid, this form of proxy, together with the power of attorney or other authority
                                            (if any) under which it is signed or a notarially certified copy thereof, must be deposited
                                            at the Company&rsquo;s Hong Kong Share Registrar, Computershare Hong Kong Investor Services
                                            Limited (for both holders of Class&nbsp;A ordinary shares and holders of Class&nbsp;B ordinary
                                            shares), at 17M Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wan Chai, Hong Kong
                                            not less than 48 hours before the time appointed for the AGM or the adjourned meeting (as
                                            the case may be).</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in">10.</TD><TD STYLE="text-align: justify">Completion
                                            and delivery of the form of proxy will not preclude you from attending and voting at the
                                            AGM or any adjournment thereof if you so wish.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>PERSONAL INFORMATION COLLECTION
STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">Your supply of your and your
proxy&rsquo;s (or proxies&rsquo;) name(s)&nbsp;and address(es) is on a voluntary basis for the purpose of processing your request for
the appointment of a proxy (or proxies) and your voting instructions for the AGM of the Company (the &ldquo;<B>Purposes</B>&rdquo;).
We may transfer your and your proxy&rsquo;s (or proxies&rsquo;) name(s)&nbsp;and address(es) to our agent, contractor, or third party
service provider who provides administrative, computer, and other services to us for use in connection with the Purposes and to such
parties who are authorized by law to request the information or are otherwise relevant for the Purposes and need to receive the information.
Your and your proxy&rsquo;s (or proxies&rsquo;) name(s)&nbsp;and address(es) will be retained for such period as may be necessary to
fulfil the Purposes. Request for access to and/or correction of the relevant personal data can be made in accordance with the provisions
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
