KE Holdings Grows Network as 2025 Profit Declines on Softer Housing Volumes

KE Holdings, Inc. Class A ( (HK:2423) ) has shared an update.

KE Holdings reported that in 2025 its gross transaction value slipped 5.0% to RMB3.18 trillion amid lower existing and new home volumes, but net revenues inched up 1.2% to RMB94.6 billion as the platform continued to monetize its scale. Net income declined to RMB2,991 million and adjusted net income also fell, yet the company significantly expanded its store network and kept mobile engagement steady, suggesting it is investing in distribution capacity and maintaining user traffic despite margin pressures.

The number of stores on the platform jumped 18.5% to over 61,000 and active stores rose 17.5%, while the agent base grew modestly and active agents remained flat, indicating a strategic emphasis on broadening physical coverage rather than aggressively adding front-line staff. Average monthly mobile users edged up to 43.8 million in the fourth quarter of 2025, underscoring resilient customer interest in Beike’s housing ecosystem even as profitability softened, a dynamic that existing shareholders and industry observers will watch as the company balances growth and earnings.

The most recent analyst rating on (HK:2423) stock is a Buy with a HK$51.68 price target. To see the full list of analyst forecasts on KE Holdings, Inc. Class A stock, see the HK:2423 Stock Forecast page.

More about KE Holdings, Inc. Class A

KE Holdings Inc., also known as Beike, operates a leading integrated online and offline platform for housing transactions and related services in China. The company focuses on existing and new home sales, as well as home renovation and furnishing, leveraging a large network of stores, agents and mobile users to facilitate property deals nationwide.

Average Trading Volume: 10,472,682

Technical Sentiment Signal: Sell

Current Market Cap: HK$152.5B

For an in-depth examination of 2423 stock, go to TipRanks’ Overview page.