BEKE-W(02423) releases its annual performance with a net income of 94.6 billion yuan, an increase of 1.2% year-on-year.

BEKE-W(02423) released its financial performance for the fiscal year 2025, with the Group achieving a net income of RMB 94.6 billion (same unit), an increase of 1.2% year-on-year; a net profit of RMB 2.991 billion, a decrease of 26.7% year-on-year; and an adjusted net profit of RMB 5.017 billion, a decrease of 30.4% year-on-year. Mr. Peng Yongdong, Chairman and CEO of Beike, stated, "In 2025, facing the profound evolution of residential service demand, we are strategically upgrading our platform towards efficiency-driven growth, focusing on customer value." "In the real estate transaction services business, we are reshaping services and business models based on data and AI capabilities to continuously enhance the platform's professional service capabilities and operational efficiency. In the home decoration and rental services business, we are focused on improving profit quality and establishing sustainable and replicable business models, both of which have entered a healthier stage of development." "Looking ahead, we believe that the ability to truly withstand cycles comes not from scale itself, but from the ability to continuously create real value for consumers. In 2026, we will more deeply respond to consumer needs, building systemic service capabilities around the residential lifecycle. At the same time, we will use AI technology to reshape capability barriers, further amplifying the professional value of service providers and platform efficiency to enhance consumers' residential experience with higher-quality services," Mr. Peng concluded. Mr. Xu Tao, CFO and Executive Director of Beike, further stated, "In 2025, we implemented a series of efficiency measures, aiming to optimize unit economic models and the company's cost structure, enhancing the company's operational resilience for the future. Despite a challenging market environment, the company achieved a 1.2% year-on-year growth in net income in 2025, reaching RMB 94.6 billion. Our cost structure also improved, with a 0.2 percentage point increase in profit margin contribution from new homes in 2025, and a rebound in profit margin contribution from existing homes in the fourth quarter of 2025. The profitability of home decoration, furnishings, and rental services continued to improve, with significant narrowing of operational losses and achieving overall profitability for the year. Operational efficiency also improved, with operating expenses as a percentage of net income decreasing by 1.4 percentage points year-on-year in 2025." "We are committed to returning value to shareholders through active capital allocation initiatives. In 2025, we repurchased approximately USD 921 million in stock, an increase of about 29% year-on-year. At the same time, we declared an end-of-year cash dividend of approximately USD 300 million. As a result, our comprehensive shareholder return for 2025 reached approximately USD 1.2 billion, an increase of over 9% year-on-year."