Globenewswireยท2025-11-10 10:00Core Insights - KE Holdings Inc. ("Beike") reported its third-quarter financial results for 2025, highlighting operational efficiency improvements and technological innovations in housing transactions and services [1][3][4]. Business and Financial Highlights - The company launched a pilot program in Shanghai focusing on a 'buyer-seller agent specialization' mechanism to enhance marketing and selling capabilities [3]. - AI integration into home rental services has empowered workflows and improved customer experiences, contributing over RMB100 million in profit for the quarter [3]. - Gross transaction value (GTV) for existing home transactions was RMB505.6 billion (US$71.0 billion), a 5.8% increase year-over-year, while GTV for new home transactions decreased by 13.7% to RMB196.3 billion (US$27.6 billion) [7][10]. - Net revenues increased by 2.1% year-over-year to RMB23.1 billion (US$3.2 billion), driven by growth in home rental services [8]. - The company achieved city-level profitability in both home renovation and furnishing, and home rental services, with combined contribution profit reaching a record high [4]. Share Repurchase Program - In Q3 2025, the company allocated US$281 million for share repurchases, marking the highest single-quarter spending in two years [5]. - As of the end of Q3 2025, approximately US$675 million worth of shares had been repurchased this year, a 15.7% increase year-over-year [5]. Financial Results - Net income for Q3 2025 was RMB747 million (US$105 million), a decrease of 36.1% year-over-year, while adjusted net income fell by 27.8% to RMB1,286 million (US$181 million) [18][19]. - The number of stores increased by 27.3% year-over-year to 61,393, and the number of agents rose by 14.5% to 545,511 [7]. - Operating expenses decreased by 1.8% year-over-year to RMB4.3 billion (US$0.6 billion) [4][13]. Cash and Investments - As of September 30, 2025, the company had cash reserves totaling RMB55.7 billion (US$7.8 billion) [22].