KE Holdings Inc.

BEKE · XNYS

CIK 1809587fmd_1HAMKHX460AGQ5X30B48YKR937Finance, Insurance and Real Estate · Real Estate Agents & Managers (For Others)Template: Real estate

Coverage: Jan 01, 2018 to Dec 31, 2025, 8 periods

Income Statement · Annual · Millions · CNY
Line item	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	28,646	46,015	70,481	80,752	60,669	77,777	93,457	94,580
Rental revenue	–	–	–	636	1,447	5,533	12,977	18,516
Cost of revenue	21,777	34,747	53,621	64,933	46,888	56,059	70,513	74,368
Net interest income	121	230	164	355	743	1,263	–	–
Gross profit	6,870	11,268	16,860	15,819	13,781	21,718	22,944	20,212
Realized investment gains (losses)	258	105	175	488	796	–	–	–
Provision for credit losses	38	38	(27)	124	19	(8)	27	27
Net interest income after provision	83	192	190	230	725	1,271	–	–
Research and development	671	1,571	2,478	3,194	2,546	1,937	2,283	2,581
Gain on sale of real estate	(14)	(7)	4	(0)	1	(1)	(0)	(137)
Selling, general and administrative	7,417	11,482	11,304	13,234	11,920	14,891	16,744	15,404
Total operating expenses	8,088	13,054	14,018	17,174	14,614	16,921	19,179	18,101
Operating income	(1,218)	(1,786)	2,842	(1,355)	(833)	4,797	3,765	2,111
Interest expense	44	181	188	6	14	17	13	7
Interest and investment income	–	–	–	426	767	1,413	253	–
Other non-operating income (expense)	635	431	1,056	1,702	1,569	1,869	1,566	1,446
Income before taxes	(499)	(1,276)	4,387	1,141	292	7,884	6,870	4,677
Income tax expense	(71)	904	1,609	1,665	1,690	1,994	2,792	1,686
Net income from continuing operations	(428)	(2,180)	2,778	(525)	(1,397)	5,890	4,078	2,991
Net income	(468)	(2,184)	2,778	(524)	(1,386)	5,883	4,065	2,994
Net income to common shareholders	(2,386)	(4,050)	720	(524)	(1,386)	5,883	4,065	2,994