Hong Kong Stock Connect purchases Beike (02423) 26 billion Hong Kong dollars in one year.

On March 16th, KE Holdings, Inc. Sponsored ADR Class A (BEKE.US, 02423) announced its financial performance for the fourth quarter and full year of 2025, and also disclosed a cash dividend plan of approximately $300 million. At the same time, since its inclusion in the Stock Connect scheme a year ago, net inflows of Southbound funds for KE Holdings, Inc. Sponsored ADR Class A have reached 26 billion HKD, with Stock Connect funds holding over 17% of the company's shares. This reflects more and more mainland investors using the Stock Connect channel to invest in KE Holdings, Inc. Sponsored ADR Class A, highlighting the market's recognition of the company's long-term growth resilience, business structure adjustments, and investor return capabilities. In terms of performance, for the full year of 2025, KE Holdings, Inc. Sponsored ADR Class A saw a 1% increase in net revenue to 94.6 billion RMB, with a net profit of 2.99 billion RMB and an adjusted net profit of 5.02 billion RMB. In the real estate transaction business, the volume of second-hand homes increased by 11% to a historical high, with the proportion of "non-real estate transaction business" reaching a historical high of 41%, and the leasing business achieving profitability for the first time. In terms of cash, KE Holdings, Inc. Sponsored ADR Class A's broad cash balance, excluding customer deposits, remained at approximately 68.7 billion RMB. The $300 million cash dividend plan for KE Holdings, Inc. Sponsored ADR Class A will be paid from the surplus cash on the company's balance sheet. By combining dividend payouts and share buybacks, KE Holdings, Inc. Sponsored ADR Class A returned approximately $1.22 billion to shareholders in 2025, about 170% of that year's non-GAAP net profit, demonstrating the company's confidence in its cash flow and long-term growth prospects. In 2025, while maintaining ample cash reserves, KE Holdings, Inc. Sponsored ADR Class A invested approximately $920 million in share buybacks, setting a new record for annual buybacks; the buyback shares accounted for about 4.1% of the total outstanding shares at the end of 2024. Since the initiation of the buyback program in September 2022, by the end of 2025, KE Holdings, Inc. Sponsored ADR Class A had repurchased approximately $2.55 billion in shares, representing 12.6% of the total outstanding shares before the launch of the buyback program. Xu Tao, Executive Director and CFO of KE Holdings, Inc. Sponsored ADR Class A, stated that in 2026, the company will maintain a balance between efficiency and growth with a more cautious financial discipline, continuing to improve the quality of business profits, optimize capital allocation structure, and create sustainable long-term value for shareholders while maintaining long-term competitiveness.