Core Insights - The real estate market in Foshan has seen a series of policy relaxations aimed at stimulating housing demand, leading to a stabilization in 2023 after a decline in transactions from 2021 to 2022 [1][2] - Despite initial recovery, Foshan's housing market faced a downturn during the 2024 Spring Festival, with significant drops in new residential sales compared to the previous year [1][2] Policy Impact - Foshan implemented over ten policies from 2022 to 2023, including lifting purchase restrictions and increasing public housing loan limits, which contributed to a halt in the decline of housing transactions [1] - The early release of policy benefits in Foshan led to a "siphoning effect," where buyers shifted to nearby cities like Shenzhen and Guangzhou, which also introduced competitive policies [2] Market Performance - In 2023, Foshan's total housing transactions remained stable at 113,413 units, with a notable 32.9% increase in second-hand housing transactions [1] - However, during the 2024 Spring Festival, Foshan's new residential sales dropped by 46.37%, ranking third in decline among ten major cities [2] Future Outlook - Analysts predict a potential recovery in Foshan's housing market by March 2024, driven by the cumulative effects of new policies and increased consumer interest [4] - The recent reduction in mortgage rates and the introduction of new public housing loan policies are expected to further stimulate demand [4][5] Market Trends - There is a growing trend towards larger residential units in Foshan, with an increase in the proportion of units over 120 square meters, indicating a shift towards improvement-oriented housing demand [3] - Despite overall market challenges, high-end residential products are experiencing strong sales, suggesting a divergence in market performance based on property type [2][3]

KE Holdings Inc. (NYSE:BEKE) Q3 2023 Earnings Conference Call November 8, 2023 7:00 AM ET Company Participants Siting Li – IR Director Stanley Peng – Co-Founder, Chairman and Chief Executive Officer Tao Xu – Executive Director and Chief Financial Officer Conference Call Participants Timothy Zhao – Goldman Sachs John Lam – UBS Miranda Zhuang – Bank of America Securities Xiaodan Zhang – CICC Operator Ladies and gentlemen, thank you for standing by for KE Holdings Inc.’s Third Quarter 2023 Earnings Conference ...

Financial Performance - Gross transaction value (GTV) was RMB 655.2 billion (US$ 89.8 billion), a decrease of 11.1% year-over-year[2] - Net revenues increased by 1.2% year-over-year to RMB 17.8 billion (US$ 2.4 billion)[10] - Net income rose by 63.4% year-over-year to RMB 1,170 million (US$ 160 million), while adjusted net income grew by 14.4% to RMB 2,159 million (US$ 296 million)[8] - Total net revenues for the three months ended September 30, 2023, were RMB 17,596,582, a slight decrease of 1.2% compared to RMB 17,810,705 for the same period in 2022[59] - Total net revenues for the nine months ended September 30, 2023, reached RMB 57,572,706, an increase of 31.0% from RMB 43,921,639 in the same period of 2022[59] - The company reported a total comprehensive income of RMB 2,210,883 for the three months ended September 30, 2023, compared to RMB 940,073 in the prior year, representing an increase of 134.0%[61] User and Agent Metrics - Number of active agents increased by 7.1% year-over-year to 399,048 as of September 30, 2023[7] - Mobile monthly active users (MAU) averaged 49.2 million in Q3 2023, up from 42.4 million in Q3 2022[7] Revenue Breakdown - Net revenues from home renovation and furnishing surged by 72.1% year-over-year to RMB 3.2 billion (US$ 0.4 billion)[15] - Existing home transaction services generated RMB 7,156,681 in revenue, while new home transaction services contributed RMB 7,792,812, reflecting increases of 13.4% and 32.4% respectively year-over-year[59] - Home renovation and furnishing net revenues increased to RMB 3,176,739 in Q3 2023, a significant rise of 72.3% compared to RMB 1,845,900 in Q3 2022[70] - Emerging and other services net revenues surged to RMB 2,424,915 in Q3 2023, an increase of 202.5% from RMB 801,189 in Q3 2022[70] Expenses and Costs - Total operating expenses increased by 12.0% to RMB 4.0 billion (US$ 0.5 billion) in Q3 2023 from RMB 3.5 billion in Q3 2022[23] - Sales and marketing expenses rose by 29.6% to RMB 1,631 million (US$ 223 million) in Q3 2023, driven by increased spending on home renovation and furnishing[23] - Total cost of revenues was RMB 12.9 billion (US$ 1.8 billion), slightly up from RMB 12.8 billion in Q3 2022[18] Profitability Metrics - Income from operations was RMB 911 million (US$ 125 million) in Q3 2023, down from RMB 1,216 million in Q3 2022, with an operating margin of 5.1% compared to 6.9% in the prior year[25] - Adjusted income from operations decreased to RMB 1,886 million (US$ 259 million) in Q3 2023 from RMB 2,108 million in Q3 2022, with an adjusted operating margin of 10.6%[26] - Net income was RMB 1,170 million (US$ 160 million) in Q3 2023, an increase from RMB 716 million in Q3 2022[27] Cash and Investments - As of September 30, 2023, the company had a combined cash balance of RMB 60.4 billion (US$ 8.3 billion)[32] - Cash and cash equivalents decreased to RMB 15,838,754 from RMB 19,413,202, a decline of about 18.5%[53] - The company reported a net cash used in investing activities of RMB (15,323,257) for the three months ended September 30, 2023, compared to RMB 3,850,877 in the same period of 2022, indicating a significant increase in cash outflow[69] Shareholder Information - The share repurchase program allows the company to buy up to US$ 2 billion of its Class A ordinary shares and/or ADSs until August 31, 2024, with approximately 49.5 million ADSs purchased for about US$ 736.5 million since its launch[37] - The total number of ordinary shareholders increased from 1,894,996 in September 2022 to 1,107,293 in September 2023[66] Future Outlook - For Q4 2023, the company expects total net revenues to be between RMB 18.0 billion (US$ 2.47 billion) and RMB 18.5 billion (US$ 2.54 billion), representing a growth of approximately 7.5% to 10.5% year-over-year[33] - The company aims to enhance capital allocation efficiency and prioritize investments in key value areas for sustainable growth[8] - The company aims to expand its market presence and enhance its service offerings through new product development and strategic partnerships in the upcoming quarters[59]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 KE Holdings Inc. 貝殼控股有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：2423） 內幕消息 貝殼控股有限公司公佈2023年第三季度未經審計財務業績 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.09條及《證券及期貨 條例》（第571章）第XIVA部而刊發。 中國北京，2023年11月8日－領先的線上線下一體化的房產交易和服務平台貝 殼控股有限公司（「貝殼」或「本公司」）（紐交所代碼：BEKE；香港聯交所代號： 2423）今日公佈其截至2023年9月30日止第三季度未經審計財務業績，有關業績乃 根據不同於國際財務報告準則的美國公認會計準則（「公認會計準則」）編製。 本公司股東及潛在投資者於買賣本公司證券時務請審慎行事。 2023年第三季度業務及財務摘要 • 總交易額1為人民幣6,552億元（898億美元），同比減少11.1%。存量房交易的 總交易 ...

Financial Performance - Total transaction value for the six months ended June 30, 2023, reached RMB 1,752.1 billion, a 43.0% increase from RMB 1,225.5 billion in the same period of 2022[4] - Net income for the six months ended June 30, 2023, was RMB 39.8 billion, up 51.0% from RMB 26.3 billion in the same period of 2022[4] - Adjusted net profit for the six months ended June 30, 2023, was RMB 59.25 billion, compared to an adjusted net loss of RMB 5.92 billion in the same period of 2022[4] - The net income for the six months ended June 30, 2023, increased by 51.0% to RMB 39.8 billion, up from RMB 26.3 billion in the same period of 2022, primarily due to an increase in total transaction volume[13] - The total transaction volume for the six months ended June 30, 2023, was RMB 1,752.1 billion, a 43.0% increase from RMB 1,225.5 billion in the same period of 2022, driven by the recovery of the housing market post-COVID-19 restrictions[13] - Total net revenue for the six months ended June 30, 2023, reached RMB 39,762,001, a significant increase of 51% compared to RMB 26,325,057 for the same period in 2022[43] - The net profit for the first half of 2023 was RMB 4,049,251, a turnaround from a net loss of RMB 2,485,342 in the same period last year[44] User and Agent Growth - The number of active agents increased by 5.0% to 435,813 as of June 30, 2023, compared to 414,915 as of June 30, 2022[4] - The average monthly active users reached 48 million for the three months ended June 30, 2023, compared to 43 million for the same period in 2022[4] Business Segments Performance - The total transaction value for existing homes was RMB 1,120.8 billion, a 46.0% increase from RMB 767.6 billion in the same period of 2022[4] - The total transaction value for new homes was RMB 572.9 billion, a 37.9% increase from RMB 415.4 billion in the same period of 2022[4] - The company’s home decoration and furnishing business saw a total transaction value of RMB 6.1 billion, up from RMB 1.5 billion in the same period of 2022[4] - The net income from the new housing business rose by 36.0% to RMB 17.1 billion for the six months ended June 30, 2023, compared to RMB 12.6 billion in the same period of 2022, with total transaction volume increasing by 37.9% to RMB 572.9 billion[14] - The net income from the home decoration and furnishing business reached RMB 4.0 billion for the six months ended June 30, 2023, significantly up from RMB 1.1 billion in the same period of 2022, driven by the acquisition of Shengdu Home Decoration and increased order volume[15] Cost and Profitability - Total operating costs increased by 31.2% from RMB 21.4 billion in the same period of 2022 to RMB 28.1 billion for the six months ended June 30, 2023[16] - Gross profit rose by 137.3% from RMB 4.9 billion in the same period of 2022 to RMB 11.7 billion for the six months ended June 30, 2023, with a gross margin of 29.4% compared to 18.7% in 2022[18] - Operating profit for the six months ended June 30, 2023, was RMB 4.1 billion, compared to an operating loss of RMB 2.4 billion in the same period of 2022, resulting in an operating margin of 10.2%[20] - Net profit for the six months ended June 30, 2023, was RMB 4.0 billion, compared to a net loss of RMB 2.5 billion in the same period of 2022[21] Cash Flow and Financial Position - Operating cash flow for the six months ended June 30, 2023, was RMB 7,431,689 thousand, up from RMB 3,808,031 thousand in the same period of 2022[26] - Total cash, cash equivalents, and restricted cash as of June 30, 2023, amounted to RMB 60.8 billion, slightly down from RMB 61.1 billion as of December 31, 2022[25] - Total financial debt as of June 30, 2023, was RMB 14,674,110 thousand, an increase from RMB 12,191,275 thousand as of December 31, 2022[27] - The company believes its current cash resources will be sufficient to meet its operational and capital expenditure needs, but may require additional cash resources for future investments or acquisitions[25] - As of June 30, 2023, the company's debt-to-asset ratio was 38.0%, an increase from 36.8% as of December 31, 2022[30] Employee and Operational Metrics - The company employed a total of 102,278 employees as of June 30, 2023, with the majority located in mainland China[35] - The company has no major foreign exchange risk as most of its income and expenses are denominated in RMB, despite a 5.1% depreciation of RMB against USD in the first half of 2023[30] - The company has no significant labor disputes and has established standard labor contracts with its employees[36] Research and Development - The company continues to focus on research and development, with R&D expenses amounting to RMB 931,529, down from RMB 1,527,590, reflecting efficiency improvements[43] - The company recognizes all research and development expenses as incurred, which primarily include employee-related compensation costs[114] Share-Based Compensation - Share-based compensation expenses totaled RMB 1,582,982 thousand for the six months ended June 30, 2023, up from RMB 957,459 thousand in the same period of 2022[191] - The company granted 37,712,316 restricted stock units under the 2020 Global Share Incentive Plan, which generally vest over a continuous service period of 1 to 5 years[196] - The total share-based compensation expense related to stock options for the six months ended June 30, 2023, was RMB 405.4 million, compared to RMB 521.3 million in the same period of 2022[194] Taxation - The income tax expense for the six months ended June 30, 2023, was RMB 1,401,522 thousand, with an effective tax rate of 25.7%, compared to an expense of RMB 619,255 thousand and an effective rate of (33.2%) in 2022[189] - There were no significant uncertain tax positions or penalties related to tax matters for the six months ended June 30, 2023[112] Investments and Financial Instruments - The company recorded no impairment for equity method investments during the six months ended June 30, 2023[159] - The company’s total unrealized losses for private equity fund investments, including impairments, amounted to RMB (781.1) million as of June 30, 2023[168] - The company’s held-to-maturity debt investments have a carrying amount of RMB 1,464.7 million as of June 30, 2023, with unrealized gains of RMB 2.9 million and unrealized losses of RMB (11.6) million[171] Lease and Rental Income - The total rental income from operating leases for the six months ended June 30, 2023, was RMB 1,940,998 thousand, a significant increase of 437.5% compared to RMB 361,145 thousand for the same period in 2022[155] - The total operating lease and other commitments amounted to RMB 426.067 million, with significant obligations due within one year[34] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[45] - The company aims to enhance service quality and asset management efficiency through standardized service delivery and improved pricing capabilities in the rental housing sector[11]

Exhibit 99.3 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. KE Holdings Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liabilit ...

KE Holdings Inc. (NYSE:BEKE) Q2 2023 Earnings Conference Call August 31, 2023 8:00 AM ET Company Participants Siting Li - IR Stanley Peng - Co-Founder, Chairman & CEO Tao Xu - Executive Director & CFO Conference Call Participants Alex Yao - JPMorgan Timothy Zhao - Goldman Sachs Harry Chen - Citigroup Miranda Zhuang - Bank of America Securities Operator Hello, ladies and gentlemen. Thank you for standing by for KE Holdings Inc.'s Second Quarter 2023 Earnings Conference Call. At this time, all participants ar ...

Financial Performance - Total transaction value for the six months ended June 30, 2023, was RMB 1,752.1 billion, an increase of 43.0% compared to RMB 1,225.5 billion in the same period of 2022[1]. - Net income for the six months ended June 30, 2023, was RMB 39.8 billion, a 51.0% increase from RMB 26.3 billion in the same period of 2022[3]. - Adjusted net profit for the six months ended June 30, 2023, was RMB 59.25 billion, compared to an adjusted net loss of RMB 5.92 billion in the same period of 2022[3]. - The total transaction value for existing home sales was RMB 1,120.8 billion, a 46.0% increase from RMB 767.6 billion in the same period of 2022[1]. - The total transaction value for new home sales was RMB 572.9 billion, a 37.9% increase from RMB 415.4 billion in the same period of 2022[1]. - For the six months ended June 30, 2023, net income increased by 51.0% to RMB 39.8 billion, up from RMB 26.3 billion in the same period of 2022, primarily due to an increase in total transaction volume[13]. - Total transaction volume for the same period reached RMB 1.7521 trillion, a 43.0% increase from RMB 1.2255 trillion in 2022, driven by the recovery of the housing market post-COVID-19 restrictions[13]. - The net income from the existing home business rose by 33.5% to RMB 15.6 billion, with total transaction volume increasing by 46.0% to RMB 1.1208 trillion[13]. - The net income from the new home business grew by 36.0% to RMB 17.1 billion, with total transaction volume rising by 37.9% to RMB 572.9 billion[14]. - The net profit for the six months ended June 30, 2023, was RMB 4 billion, compared to a net loss of RMB 2.5 billion in the same period of 2022[20]. - The total net revenue for the six months ended June 30, 2023, was RMB 39,762,001, an increase of 51% compared to RMB 26,325,057 for the same period in 2022[61]. Operational Metrics - The number of active agents as of June 30, 2023, was 409,054, a 7.6% increase from 380,284 as of June 30, 2022[3]. - The average monthly active users for the three months ended June 30, 2023, reached 48 million, up from 43 million in the same period of 2022[3]. - The number of stores as of June 30, 2023, was 43,000, stable compared to 42,831 as of June 30, 2022[3]. - The company has focused on enhancing the operational efficiency of agents and stores, leading to a 16% year-on-year increase in the average number of agents per store in the second quarter[6]. - The rental housing management service managed over 120,000 units as of June 30, 2023, with an occupancy rate of 94.5%, up 1.1 percentage points from Q1 2023[11]. Revenue Segments - The home decoration and furnishing business achieved a total transaction value of RMB 6.1 billion, significantly up from RMB 1.5 billion in the same period of 2022[1]. - The net revenue for the home decoration and furnishing segment for the six months ended June 30, 2023, was RMB 4 billion, up from RMB 1.1 billion in the same period of 2022, primarily due to the acquisition of Shengdu Home Decoration Co., Ltd. and increased order volume[15]. - The net revenue from emerging businesses and others increased by 217.3% to RMB 3 billion for the six months ended June 30, 2023, compared to RMB 1 billion in the same period of 2022, mainly driven by growth in rental housing management services and financial services[15]. Cost and Profitability - Total operating costs rose by 31.2% to RMB 28.1 billion for the six months ended June 30, 2023, from RMB 21.4 billion in the same period of 2022[16]. - Gross profit increased by 137.3% to RMB 11.7 billion for the six months ended June 30, 2023, with a gross margin of 29.4%, compared to 18.7% in the same period of 2022[17]. - Operating profit for the six months ended June 30, 2023, was RMB 4.1 billion, compared to an operating loss of RMB 2.4 billion in the same period of 2022, resulting in an operating margin of 10.2%[18]. - Adjusted operating profit for the six months ended June 30, 2023, was RMB 6 billion, compared to an adjusted operating loss of RMB 1.1 billion in the same period of 2022, with an adjusted operating margin of 15.0%[19]. Cash Flow and Liquidity - As of June 30, 2023, the company's cash, cash equivalents, restricted cash, and short-term investments totaled RMB 60.8 billion, slightly down from RMB 61.1 billion as of December 31, 2022[21]. - As of June 30, 2023, the net cash generated from operating activities was RMB 7,431,689 thousand, compared to RMB 3,808,031 thousand for the same period in 2022, representing an increase of approximately 95.5%[22]. - The total cash and cash equivalents at the end of the period reached RMB 37,812,092 thousand, up from RMB 19,380,403 thousand year-over-year, indicating a growth of approximately 95.2%[22]. - The company's total liabilities as of June 30, 2023, amounted to RMB 14,674,110 thousand, an increase from RMB 12,191,275 thousand as of December 31, 2022, reflecting a rise of approximately 20.4%[22]. - The debt-to-asset ratio as of June 30, 2023, was 38.0%, compared to 36.8% as of December 31, 2022, indicating a slight increase in leverage[26]. Shareholder Returns - The board has approved a special cash dividend of $0.057 per ordinary share and $0.171 per American depositary share, totaling approximately $200 million to be paid from the company's cash reserves[39]. - To qualify for the dividend, ordinary shareholders must submit their share transfer documents by September 15, 2023, at 4:30 PM Beijing/Hong Kong time[39]. - The expected payment date for the dividend is around September 27, 2023, for ordinary shareholders and October 3, 2023, for American depositary shareholders[39]. - The company has initiated a share repurchase plan allowing for the buyback of up to $1 billion of Class A common stock and/or American Depositary Shares within 12 months, which has been extended to $2 billion until August 31, 2024[34]. - As of August 31, 2023, the company repurchased a total of 40,968,424 American Depositary Shares, equivalent to 122,905,272 Class A common shares, for a total consideration of $604,957,928[34]. Corporate Governance - The board has not separated the roles of Chairman and CEO, believing that this structure enhances unified leadership and effective strategic planning[38]. - The company has complied with all applicable principles and code provisions of the corporate governance code during the reporting period[38]. - The board of directors consists of executive and non-executive members, ensuring diverse oversight and governance[45]. Future Outlook - Forward-looking statements are made regarding the company's business outlook and strategic plans, which involve inherent risks and uncertainties[45]. - The company has no major future plans for significant investments or capital assets as of June 30, 2023[26]. Accounting Policies - The company uses non-GAAP financial metrics to assess its operating performance, including adjusted operating profit and adjusted net profit, to identify potential business trends[42]. - Adjusted operating profit is defined as operating profit excluding stock-based compensation, intangible asset amortization, and impairment of goodwill and other long-term assets[43]. - The company encourages investors to review non-GAAP financial metrics alongside GAAP metrics for a comprehensive understanding of its performance[43].

Financial Performance - Total transaction value for Q2 2023 reached RMB 780.6 billion (USD 107.6 billion), a year-on-year increase of 22.1%[1] - Net revenue for Q2 2023 was RMB 19.5 billion (USD 2.7 billion), reflecting a year-on-year growth of 41.4%[2] - Net profit for Q2 2023 was RMB 1.3 billion (USD 179 million), compared to a net loss of RMB 1.87 billion in the same period last year[2] - Adjusted net profit for Q2 2023 was RMB 2.36 billion (USD 326 million), compared to a net loss of RMB 619 million in Q2 2022[2] - Gross profit for Q2 2023 rose by 97.3% year-over-year to RMB 5.3 billion (USD 0.7 billion), with a gross margin of 27.4%, up from 19.7% in Q2 2022[9] - Operating profit for Q2 2023 was RMB 1.08 billion (USD 0.149 billion), compared to an operating loss of RMB 1.52 billion in Q2 2022, resulting in an operating margin of 5.5%[10] - Adjusted operating profit for Q2 2023 was RMB 2.15 billion (USD 0.296 billion), compared to an adjusted operating loss of RMB 690 million in Q2 2022, with an adjusted operating margin of 11.0%[11] - The company reported a significant increase in emerging business and other net revenue, which rose by 213.9% year-over-year to RMB 1.7 billion (USD 0.2 billion) in Q2 2023, mainly due to growth in rental housing management and financial services[7] - Total net revenue for the six months ended June 30, 2023, was RMB 39,762,001, an increase of 51% compared to RMB 26,325,057 for the same period in 2022[30] Business Segments - Existing home business net revenue increased by 15.9% year-over-year to RMB 6.4 billion (USD 0.9 billion) in Q2 2023, with total transaction volume rising by 16.0% to RMB 45.65 billion (USD 6.3 billion)[5] - New home business net revenue grew by 30.4% year-over-year to RMB 8.7 billion (USD 1.2 billion) in Q2 2023, with total transaction volume increasing by 32.4% to RMB 29.5 billion (USD 4.07 billion)[6] - Home decoration and furnishing net revenue surged to RMB 2.6 billion (USD 0.4 billion) in Q2 2023, up from RMB 1 billion in Q2 2022, driven by increased orders and improved delivery capabilities[6] - The revenue from the existing home business for the three months ended June 30, 2023, was RMB 6,415,888, an increase of 16% from RMB 5,534,809 in the same period of 2022[30] - The contribution profit from the new home business for the three months ended June 30, 2023, was RMB 2,365,307 thousand, up 50.5% from RMB 1,570,772 thousand in the same period of 2022[39] - The contribution profit from the home decoration and furnishing business for the three months ended June 30, 2023, was RMB 776,759 thousand, a significant increase from RMB 295,063 thousand in the same period of 2022[39] - The net income from emerging businesses and others for the three months ended June 30, 2023, was RMB 1,747,504 thousand, compared to RMB 556,622 thousand in the same period of 2022, marking a growth of 213.5%[39] Operational Metrics - The number of active stores as of June 30, 2023, was 41,076, remaining stable compared to the same period last year[2] - The number of active agents increased by 5.0% year-on-year to 435,813 as of June 30, 2023[2] - Average monthly active users reached 48 million in Q2 2023, up from 43 million in the same period last year[2] Strategic Initiatives - The company upgraded its corporate strategy to "One Body, Three Wings" in July 2023, introducing "Beihome" to enhance new housing supply[4] - The company aims to improve service quality and expand its offerings in the housing sector, including transactions, rentals, and home decoration[4] - The company is committed to maintaining a healthy balance sheet and efficient capital allocation to support growth in the housing services sector[4] - The company aims to enhance its platform capabilities and expand its market presence, focusing on strategic initiatives and potential acquisitions in the upcoming quarters[26] - The company is investing in new product development and technology advancements to drive future growth and improve operational efficiency[26] - The management anticipates continued growth in user engagement and transaction volume on its platform, supported by ongoing marketing efforts and service enhancements[26] Financial Position - As of June 30, 2023, the total cash, cash equivalents, restricted cash, and short-term investments amounted to RMB 60.8 billion (USD 8.4 billion)[15] - The total assets increased to RMB 117,415,189 thousand as of June 30, 2023, up from RMB 109,347,347 thousand as of December 31, 2022, reflecting a growth of about 7.5%[28] - Total liabilities rose to RMB 44,629,190 thousand as of June 30, 2023, compared to RMB 40,292,909 thousand as of December 31, 2022, indicating an increase of approximately 10.5%[28] - The total current liabilities increased to RMB 36,856,790 thousand as of June 30, 2023, from RMB 33,341,318 thousand as of December 31, 2022, marking a rise of about 15.1%[28] - The company reported a total non-current assets increase to RMB 47,242,494 thousand as of June 30, 2023, up from RMB 38,922,672 thousand as of December 31, 2022, which is an increase of approximately 21.4%[28] Shareholder Returns - The company has expanded its share repurchase program from USD 1 billion to USD 2 billion, extending it until August 31, 2024[17] - A special cash dividend of USD 0.057 per ordinary share or USD 0.171 per American depositary share has been approved, totaling approximately USD 200 million[18] Future Outlook - The company expects total net revenue for Q3 2023 to be between RMB 15.5 billion (USD 2.1 billion) and RMB 16 billion (USD 2.2 billion), representing a decline of approximately 9.1% to 11.9% year-over-year[16] Non-GAAP Metrics - The company utilizes non-GAAP financial metrics to assess operational performance, including adjusted operating profit and adjusted net profit[22] - Adjusted operating profit is defined as operating profit excluding stock-based compensation, intangible asset amortization, and impairment of goodwill and other long-term assets[23] - The company emphasizes that non-GAAP metrics should not be viewed in isolation and encourages investors to review financial data comprehensively[23]

KE Holdings Inc. (NYSE:BEKE) Q1 2023 Earnings Conference Call May 18, 2023 8:00 AM ET Company Participants Siting Li - Investor Relations Stanley Peng - Co-Founder, Chairman and Chief Executive Officer Tao Xu - Executive Director and Chief Financial Officer Conference Call Participants Harry Chen - Citigroup Eddy Wong - Morgan Stanley Timothy Zhao - Goldman Sachs Xiaodan Zhang - CICC Operator Hello ladies and gentlemen. Thank you for standing by for KE Holdings Inc’s First Quarter 2023 Earnings Conference Call. ...