KE Holdings Inc. Announces First Quarter 2026 Financial Results

KE Holdings Inc. reported its unaudited financial results for the first quarter ended March 31, 2026. The company experienced a year-over-year decrease in gross transaction value (GTV) of 15.6% to RMB711.7 billion, with existing home transactions down 7.9% and new home transactions down 37.2%. Net revenues decreased by 19.0% to RMB18.9 billion. However, net income saw a significant increase of 46.7% to RMB1,255 million, with adjusted net income up 15.7% to RMB1,611 million. The number of stores increased by 6.2% year-over-year, while the number of active agents decreased by 7.6%. Mobile monthly active users averaged 42.7 million. The company repurchased approximately US$195 million of its shares in the quarter. Management highlighted improved operating quality and profitability, with gross margin and adjusted operating margin reaching seven-quarter highs.