KE Holdings reports Q1 adjusted EPS RMB1.19, consensus RMB1.02

Reports Q1 revenue RMB23.3B, consensus RMB20.9B. CEO Stanley Yongdong Peng commented, “Building on the stable market performance and the continued effectiveness of our growth strategy, our business maintained strong growth in Q1, with our total transaction value increasing by 34.0% year-over-year and net revenues rising by 42.4%. Our housing transaction services continue to significantly outperform the market…Looking ahead, we are confident in the long-term development of our company under the ‘One Body, Three Wings’ strategy and will continue to invest firmly in AI applications. At the same time, we will be more prudent in other types of investments this year, focusing on the return on investment to strengthen the foundation for safe operations and ensure that shareholders who support the company’s long-term vision can benefit from our sustainable development”. CFO Tao Xu added, “In Q1, the market performance was very stable, continuing the positive impact resulting from the policies implemented in September last year. National new home sales remained relatively flat year-over-year in the first quarter, better than the substantial year-over-year decline in the same period last year, and the existing home market remained at a high level in activity.”