KE Holdings director Chen files Form 3

KE Holdings Inc. director Chen Xiaohong filed an initial Form 3 showing her beneficial ownership in the company’s American Depositary Shares (ADSs) and equity awards.

Rhea-AI Filing Summary

KE Holdings Inc. director Chen Xiaohong filed an initial Form 3 showing her beneficial ownership in the company’s American Depositary Shares (ADSs) and equity awards. The filing reports 4,948,245 ADSs held indirectly through H Capital V, L.P. and 46,596 ADSs held directly.

Chen also reports share options exercisable into 3,655 ADSs, expiring on July 23, 2031, and restricted share units corresponding to 8,750 ADSs that were granted on September 2, 2025 and will vest on September 2, 2026. Each ADS represents three Class A ordinary shares of KE Holdings.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Chen Xiaohong

Role Director

Type	Security	Shares	Price	Value
holding	Share Options	--	--	--
holding	Restricted Share Units	--	--	--
holding	American Depositary Shares	--	--	--
holding	American Depositary Shares	--	--	--

Holdings After Transaction: Share Options — 3,655 contracts (Direct); Restricted Share Units — 8,750 contracts (Direct); American Depositary Shares — 4,948,245 shares (Indirect, By H Capital V, L.P.); American Depositary Shares — 46,596 shares (Direct)

Footnotes (5)

1. F1. Each American Depositary Share (ADS) represents three Class A ordinary shares of the issuer.
2. F2. H Capital V, L.P. is a limited partnership incorporated in the Cayman Islands and wholly owned by H Capital V GP, L.P (which is wholly owned by H Capital V GP, Ltd.). Ms. CHEN is a director of H Capital V GP, Ltd. and may be deemed as the beneficial owner of these shares.
3. F3. The Share Options are exercisable for ADSs. The number of securities underlying each option and the exercise price therefor are represented in ADSs.
4. F4. Restricted Share Units corresponding to 8,750 ADSs (representing 26,250 Class A ordinary shares) were granted on September 2, 2025 and will vest on September 2, 2026.
5. F5. These Restricted Share Units evidence the contingent right to receive 8,750 ADSs upon vesting.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Chen Xiaohong’s Form 3 for KE Holdings (BEKE) disclose?

The Form 3 discloses Chen Xiaohong’s initial beneficial ownership in KE Holdings. It lists direct and indirect ADS holdings, as well as outstanding share options and restricted share units tied to the company’s American Depositary Shares.

How many KE Holdings (BEKE) ADSs does Chen Xiaohong indirectly hold?

Chen is reported as the beneficial owner of 4,948,245 American Depositary Shares indirectly through H Capital V, L.P. Footnotes explain she is a director of its general partner and may be deemed the beneficial owner of these ADSs.

What direct KE Holdings (BEKE) ADS holdings does Chen Xiaohong report?

The filing shows Chen directly holds 46,596 American Depositary Shares. These are separate from the larger indirect position held through H Capital V, L.P., giving insight into her personal stake in KE Holdings beyond the fund-related ownership.

What derivative awards in KE Holdings (BEKE) does Chen Xiaohong have?

Chen reports share options over 3,655 ADSs with a zero exercise price expiring July 23, 2031, and restricted share units corresponding to 8,750 ADSs. These RSUs were granted September 2, 2025 and will vest on September 2, 2026, subject to conditions.

How are KE Holdings (BEKE) ADSs related to Class A ordinary shares?

Each KE Holdings American Depositary Share represents three Class A ordinary shares. The filing’s footnotes clarify that share options and restricted share units are structured in ADS terms, with underlying ordinary shares reflected through this three-to-one ratio.

Who is H Capital V, L.P. in relation to KE Holdings (BEKE) Form 3?

H Capital V, L.P. is a Cayman Islands limited partnership that holds 4,948,245 KE Holdings ADSs. It is wholly owned through general partner entities, and Chen Xiaohong, as a director of the ultimate general partner, may be deemed a beneficial owner of these shares.

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Accepted by SEC EDGAR 03/17/2026 - 07:03 AM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Chen Xiaohong

(Last) (First) (Middle)

SUITE 2202, BUILDING C, YINTAI CENTER

2 JIANGUOMENWAI AVE., CHAOYANG DISTRICT

(Street)

BEIJING F4 100022

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
KE Holdings Inc. [ BEKE ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depositary Shares(1)	4,948,245	I	By H Capital V, L.P.(2)
American Depositary Shares(1)	46,596	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Options	07/23/2021	07/23/2031	American Depositary Shares	3,655(3)	$0.00	D
Restricted Share Units	(4)	(4)	American Depositary Shares	8,750	(5)	D

Explanation of Responses:

1. Each American Depositary Share (ADS) represents three Class A ordinary shares of the issuer.

2. H Capital V, L.P. is a limited partnership incorporated in the Cayman Islands and wholly owned by H Capital V GP, L.P (which is wholly owned by H Capital V GP, Ltd.). Ms. CHEN is a director of H Capital V GP, Ltd. and may be deemed as the beneficial owner of these shares.

3. The Share Options are exercisable for ADSs. The number of securities underlying each option and the exercise price therefor are represented in ADSs.

4. Restricted Share Units corresponding to 8,750 ADSs (representing 26,250 Class A ordinary shares) were granted on September 2, 2025 and will vest on September 2, 2026.

5. These Restricted Share Units evidence the contingent right to receive 8,750 ADSs upon vesting.

	/s/CHEN Xiaohong	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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