BEKE-W (02423) announced its second-quarter performance, with adjusted net profit of 3.185 billion yuan, a year-on-year increase of 74.9%.

BEKE-W (02423) announced its second-quarter results for 2026, with a total transaction value of 933.8 billion yuan (137.6 billion USD), representing a year-on-year increase of 6.3%. The total transaction value for existing home sales was 629.9 billion yuan (92.8 billion USD), up 8.0% year-on-year. The total transaction value for new home sales was 258.4 billion yuan (38.1 billion USD), experiencing a year-on-year increase of 1.2%. Net revenue was 24.5 billion yuan (3.6 billion USD); gross profit increased by 23.1% year-on-year to 7 billion yuan, and net profit reached 2.624 billion yuan, up 100.8% year-on-year. Adjusted net profit was 3.185 billion yuan, marking a year-on-year increase of 74.9%. The announcement stated that the gross profit margin rose from 21.9% in the same period of 2025 to 28.6% in the second quarter of 2026, primarily due to improved contribution margins across all major segments. As of June 30, 2026, the number of stores was 60,274, with 57,803 active stores. The number of agents reached 540,634, with 454,571 active agents. The average number of monthly active users on mobile for the second quarter of 2026 was 45.7 million. Mr. Peng Yongdong, Chairman of the Board and CEO of Beike, stated, In the second quarter of 2026, we saw further stabilization in the operational foundation of our company, and organizational changes began to deepen into daily operations. We are further improving the synergy between professional service providers, the platform, and AI, starting from consumer demand and frontline practical issues: professional service providers bear judgment and responsibility, the platform provides collaboration and fulfillment support, and AI drives the accumulation of professional experience into verifiable and reusable organizational capabilities. Looking ahead to the next stage, we will insist on pursuing quality scale growth and continuously examine the effectiveness of transformation from aspects such as consumer experience, professional service provider development, operational efficiency, unit economics, as well as cross-city and cross-scenario replication, thereby solidifying the foundation for the companys long-term sustainable development. Mr. Xu Tao, Executive Director and Chief Financial Officer of Beike, further stated, In the second quarter, the proactive adjustments to our cost structure began to show results, making our resource allocation more suited to the current market environment. Based on this, we continued to drive operational efficiency around customer value, restoring the scale of our real estate transaction service business, and our profitability further improved. The contribution margin of each major business achieved year-on-year and quarter-on-quarter increases, driving the gross profit margin up by 6.7 percentage points year-on-year to 28.6%; meanwhile, operating expenses decreased by 14.1% year-on-year. The adjusted operating profit margin and adjusted net profit margin reached 14.6% and 13.0%, respectively, both hitting three-year highs. In the second quarter, the company invested approximately 250 million USD to buy back shares and conducted its first share buyback in the Hong Kong market. Looking ahead, we will further focus resources on capabilities that create customer value based on the current more efficient cost structure, continuously enhancing operational resilience and promoting long-term sustainable growth.