KE Holdings Inc. Announces Upsizing and Extension of Share Repurchase Program

Rhea-AI Summary

KE Holdings (NYSE: BEKE), a leading integrated housing transactions platform, has announced significant modifications to its share repurchase program. The company's board has approved an increase in the repurchase authorization from US$3 billion to US$5 billion and extended the program until August 31, 2028.

Under the existing program, BEKE has already purchased 138.7 million ADSs (representing approximately 416.2 million Class A ordinary shares) for a total consideration of US$2.18 billion. The company received shareholder approval for the 2025 Share Repurchase Mandate at its June AGM and will seek additional mandates at the next three AGMs to continue the program.

Positive

• Significant increase in buyback authorization by US$2 billion to US$5 billion total
• Three-year extension of the program until August 2028 shows long-term commitment
• Strong execution with US$2.18 billion already deployed in share repurchases
• Demonstrates confidence in company's financial position and commitment to shareholder returns

Negative

• Large cash deployment for buybacks may limit funds available for business operations and growth
• Future share repurchases depend on obtaining shareholder approval at upcoming AGMs

Insights

Financial Analyst

Beike's $2B expansion of its buyback program to $5B signals strong confidence in undervalued shares and healthy cash position.

Beike's announcement represents a significant enhancement to its capital return strategy. The company is increasing its share repurchase authorization by $2 billion to a total of $5 billion and extending the timeline by three years to August 2028. This substantial commitment follows their consistent execution on previous buyback plans, having already deployed $2.18 billion to repurchase approximately 138.7 million ADSs (representing 416.2 million Class A ordinary shares).

This move sends several powerful signals to the market. First, it demonstrates management's strong conviction that Beike's shares are undervalued at current trading levels. Second, it reflects robust cash generation capabilities and balance sheet strength, as the company clearly expects to generate sufficient capital to fund both this expanded program and its operational needs. Third, the three-year extension indicates long-term confidence in the company's business model despite ongoing challenges in the Chinese real estate sector.

The systematic approach to securing shareholder approval through annual general meetings for the extended program shows careful corporate governance. For investors, this represents a meaningful mechanism for capital return that should help provide a floor for the share price while potentially enhancing metrics like earnings per share as the float decreases. This is particularly notable given Beike's position as a leading platform in China's massive housing transaction market.

BEIJING, Aug. 26, 2025 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that its board of directors have approved the upsizing and extension of its share repurchase program.

As previously disclosed, the Company established a share repurchase program in August 2022 and upsized and extended it in August 2023 and August 2024, under which the Company may purchase up to US$3 billion of its Class A ordinary shares and/or American depositary shares (“ADSs”) until August 31, 2025 (the “Existing Share Repurchase Program”). As of the date of this press release, the Company in aggregate has purchased approximately 138.7 million ADSs (representing approximately 416.2 million Class A ordinary shares) on the New York Stock Exchange with a total consideration of approximately US$2,177.9 million under the Existing Share Repurchase Program since its launch.

On August 26, 2025, the Company’s board of directors approved modifications to the Existing Share Repurchase Program, pursuant to which the repurchase authorization has been further increased from US$3 billion to US$5 billion and extended until August 31, 2028 (the “Extended Share Repurchase Program”). In the annual general meeting (the “AGM”) held on June 27, 2025, the shareholders of the Company have approved to grant the board of directors a general unconditional mandate to purchase the Company’s own shares (the “2025 Share Repurchase Mandate”), which covers the repurchases to be made under the Extended Share Repurchase Program until the conclusion of the next AGM of the Company. After the expiry of the 2025 Share Repurchase Mandate, the Company will further seek for general unconditional mandate for repurchase from the shareholders of the Company at each of the next three AGMs to be held in the forthcoming years to continue its share repurchase under the Extended Share Repurchase Program.

About KE Holdings Inc.

KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Beike may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about KE Holdings Inc.’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Beike’s goals and strategies; Beike’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; Beike’s ability to empower services and facilitate transactions on Beike platform; competition in the industry in which Beike operates; relevant government policies and regulations relating to the industry; Beike’s ability to protect the Company’s systems and infrastructures from cyber-attacks; Beike’s dependence on the integrity of brokerage brands, stores and agents on the Company’s platform; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in KE Holdings Inc.’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and KE Holdings Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit: https://investors.ke.com.

For investor and media inquiries, please contact:

In China:
KE Holdings Inc.
Investor Relations
Siting Li
E-mail: ir@ke.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: ke@tpg-ir.com

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ke@tpg-ir.com

Source: KE Holdings Inc.

FAQ

How much has KE Holdings (BEKE) increased its share buyback program to in August 2025?

KE Holdings has increased its share buyback authorization from US$3 billion to US$5 billion, representing a US$2 billion increase.

How many shares has BEKE repurchased under its existing buyback program?

BEKE has purchased 138.7 million ADSs (equivalent to 416.2 million Class A ordinary shares) for approximately US$2.18 billion.

When does KE Holdings' extended share repurchase program expire?

The extended share repurchase program will run until August 31, 2028, a three-year extension from the previous expiration date.

What approvals does BEKE need for continuing its buyback program?

BEKE will need to obtain shareholder approval through general unconditional mandates at each of the next three Annual General Meetings (AGMs) to continue the program.