KE Holdings Inc. (BEKE) Q4 2025 Earnings Call Transcript

Operator

Hello, ladies and gentlemen. Thank you for standing by for KE Holdings, Inc. Fourth Quarter and Fiscal Year 2025 Earnings Conference Call. Please note that today’s call, including management’s prepared remarks and a question-and-answer session will all be available in English. Simultaneous interpretation in Chinese is available on a separate line for the duration of the call. [Operator Instructions] Today’s conference call is being recorded.

I will now turn the call over to your host, Ms. Siting Li, IR Director of the company. Please go ahead, Siting.

Siting Li
Investor Relations Director & Joint Company Secretary

Thank you, operator. Good evening, and good morning, everyone. Welcome to KE Holdings Inc, Beike’s Fourth Quarter and Fiscal Year 2025 Earnings Conference Call. The company’s financial and operating results were published in the press release earlier today and are posted on the company’s IR website, investors.ke.com. On today’s call, we have Mr. Stanley Peng, our Co-Founder, Chairman and Chief Executive Officer; and Mr. Tao Xu, our Executive Director and Chief Financial Officer. Mr. Xu will provide an overview of our business update and financial performance, then Mr. Peng will share more on our strategic update and thinking.

Before we continue, I refer you to our safe harbor statement in our earnings press release, which applies to this call as we will make forward-looking