BEKE-W (02423) achieved a net income of 94.6 billion yuan in 2025, an increase of 1.2% year-on-year. Shareholders' return reached approximately 1.2 billion US dollars.

BEKE-W (02423) announced its performance in 2025, with a net income of RMB 94.6 billion, a year-on-year increase of 1.2%. Net profit was RMB 2.991 billion, and adjusted net profit was RMB 5.017 billion, with a year-end cash dividend of $0.092 per share. In 2025, facing the evolving consumer demand for residential services, the group focused on customer value, continuously optimized its business model and resource allocation, and promoted operational efficiency improvement. Thanks to further diversification of the business structure and the increasing online penetration rate of the real estate transaction service industry, the net income in 2025 remained stable in a volatile external environment, with a year-on-year increase of 1.2%. In particular, the total transaction volume of existing and new housing business in 2025 performed better than the industry average. The profitability of home decoration, home furnishings, and housing rental services continued to improve, with significant narrowing of operating level losses and overall profitability for the year. The cost structure was optimized, with the company's operating expenses as a percentage of net income decreasing by 1.4 percentage points compared to the previous year. Furthermore, the company continued to increase shareholder returns, repurchasing approximately $921 million in shares in 2025. Combined with the declared year-end cash dividend of approximately $300 million, the comprehensive shareholder return in 2025 reached around $1.2 billion, an increase of over 9% from the previous year. In 2026, the company will continue to focus on customer value, promoting the upgrading of real estate transaction services from "transaction" services to "decision support" services, and strive to further improve the profitability and operational model of home decoration, home furnishings, and rental businesses. Through deep collaboration between AI and service providers, and technology-driven platform resource optimization, the company will continue to enhance its platform's professional service capabilities for customers and overall organizational and operational efficiency. At the same time, the company will maintain prudent capital allocation and strict operational discipline, continuously improve the quality of operations and cash flow, and promote the business to achieve stable and sustainable development.