Profitability improvement on track 17 Mar 2026 CMB International Global Markets | Equity Research | Company Update Ke Holdings (BEKE US) Ke Holdings (BEKE US) - | Target Price | US$23.00 | | --- | --- | | (Previous TP | US$21.80) | | Up/Downside | 36.1% | | Current Price | US$16.90 | China Internet Saiyi HE, CFA (852) 3916 1739 hesaiyi@cmbi.com.hk Ke Holdings' (Beike) 4Q25 revenue declined 28.7% YoY to RMB22.2bn, inline with Bloomberg consensus and our forecast, and non-GAAP net profit reached RMB0.5bn in t ...