Baihui holds voting power on 24.7% of KE Holdings

KE Holdings Inc. major shareholder Baihui Partners L.P. filed an amended beneficial ownership report.

Rhea-AI Filing Summary

KE Holdings Inc. major shareholder Baihui Partners L.P. filed an amended beneficial ownership report. Baihui Partners is deemed to beneficially own 849,601,280 Class A ordinary shares of KE Holdings through voting power over shares held by Propitious Global Holdings Limited under an Irrevocable Proxy and Power of Attorney. Based on 3,435,761,272 total issued ordinary shares (3,300,858,110 Class A and 134,903,162 Class B) as of August 14, 2026, this position represents 24.7% of the issuer’s ordinary shares as a single class. Baihui Partners reports sole voting power over these shares, but no dispositive power, and states that its share count has not changed in the past 60 days; the percentage changed due to KE Holdings’ share repurchase and cancellation, which reduced the number of shares outstanding.

Key Figures

Beneficially owned shares: 849,601,280 Class A ordinary shares Ownership percentage: 24.7% Total issued ordinary shares: 3,435,761,272 shares +5 more

8 metrics

Beneficially owned shares 849,601,280 Class A ordinary shares Shares over which Baihui Partners L.P. has voting power via Irrevocable Proxy and Power of Attorney

Ownership percentage 24.7% Portion of KE Holdings’ total issued ordinary shares beneficially owned by Baihui Partners L.P.

Total issued ordinary shares 3,435,761,272 shares Total issued ordinary shares of KE Holdings as of August 14, 2026

Issued Class A ordinary shares 3,300,858,110 shares Issued Class A ordinary shares of KE Holdings as of August 14, 2026

Issued Class B ordinary shares 134,903,162 shares Issued Class B ordinary shares of KE Holdings as of August 14, 2026

Sole voting power 849,601,280 shares Number of shares for which Baihui Partners L.P. reports sole voting power

Shared voting power 0 shares Number of shares for which Baihui Partners L.P. reports shared voting power

Sole dispositive power 0 shares Number of shares for which Baihui Partners L.P. reports sole dispositive power

Key Terms

beneficially owned, Irrevocable Proxy and Power of Attorney, dispositive power, share repurchase and cancellation, +1 more

5 terms

beneficially owned financial

"The securities beneficially owned by the Reporting Person did no change"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Irrevocable Proxy and Power of Attorney financial

"acquired voting power pursuant to an Irrevocable Proxy and Power of Attorney"

dispositive power financial

"Sole Dispositive Power 0.00 10 | Shared Dispositive Power 0.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

share repurchase and cancellation financial

"following the completion of the Issuer's share repurchase and cancellation"

Schedule 13D regulatory

"this Amendment No. 3 to Statement on (this "Amendment") amends and supplements the Statement on"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

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

How many KE Holdings Inc. (BEKE) shares does Baihui Partners L.P. report beneficially owning?

Baihui Partners L.P. reports beneficial ownership of 849,601,280 Class A ordinary shares of KE Holdings Inc. This ownership is through voting power over shares held by Propitious Global Holdings Limited under an Irrevocable Proxy and Power of Attorney.

What percentage of KE Holdings Inc. (BEKE) does Baihui Partners L.P. beneficially own?

Baihui Partners L.P. reports beneficial ownership of 24.7% of KE Holdings’ ordinary shares. This percentage is based on 3,435,761,272 issued ordinary shares as of August 14, 2026, treating Class A and Class B shares as a single class.

Did Baihui Partners L.P. trade KE Holdings Inc. (BEKE) shares in the past 60 days?

No. Baihui Partners L.P. states that the number of securities it beneficially owns did not change in the past 60 days. The reported change relates to a lower total share count after KE Holdings’ share repurchase and cancellation.

Why did Baihui Partners L.P.’s ownership percentage in KE Holdings Inc. (BEKE) change?

The filing explains the percentage changed due to a change in the number of ordinary shares issued by KE Holdings, following the company’s share repurchase and cancellation, while Baihui Partners’ beneficial share count stayed the same.

What kind of control does Baihui Partners L.P. have over its KE Holdings Inc. (BEKE) shares?

Baihui Partners L.P. reports sole voting power over 849,601,280 shares but no dispositive power. Its voting power arises from an Irrevocable Proxy and Power of Attorney granted by Propitious Global Holdings Limited.

How many total shares of KE Holdings Inc. (BEKE) are outstanding in this filing?

The filing uses a total of 3,435,761,272 issued ordinary shares as of August 14, 2026. This consists of 3,300,858,110 Class A ordinary shares and 134,903,162 Class B ordinary shares, treated as a single class for percentage calculations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/18/2026 - 06:07 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

KE Holdings Inc.

(Name of Issuer)

Class A ordinary shares, par value US$0.00002 per share

(Title of Class of Securities)

482497104

(CUSIP Number)

Baihui Partners L.P.
Oriental Electronic Technology Building, No. 2 Chuangye Road, Haidian District
Beijing, F4, 100086
86 10 5810 4689

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/14/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 482497104

1

Name of reporting person

Baihui Partners L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 849,601,280.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

849,601,280.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.7 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Represents 849,601,280 Class A ordinary shares held by Propitious Global Holdings Limited, over which Baihui Partners L.P. acquired voting power pursuant to an Irrevocable Proxy and Power of Attorney (as amended) executed and delivered by Propitious Global Holdings Limited. Calculation of percentage is based on a total of 3,435,761,272 issued ordinary shares (consisting of 3,300,858,110 Class A ordinary shares and 134,903,162 Class B ordinary shares) of the Issuer as of August 14, 2026 as a single class, reported on the Issuer's current report on Form 6-K filed on August 17, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A ordinary shares, par value US$0.00002 per share
(b)	Name of Issuer: KE Holdings Inc.
(c)	Address of Issuer's Principal Executive Offices: Oriental Electronic Technology Building, No. 2 Chuangye Road, Haidian District, Beijing, CHINA , 100086.
Item 1 Comment: Pursuant to Rule 13d-2 promulgated under the Act, this Amendment No. 3 to Statement on Schedule 13D (this "Amendment") amends and supplements the Statement on Schedule 13D originally filed with the U.S. Securities and Exchange Commission (the "Commission") on July 29, 2021 as amended and supplemented by Amendment No. 1 filed with the Commission on November 8, 2021 and Amendment No. 2 filed with the Commission on May 18, 2022 (the "Statement"). Except as specifically provided herein, this Amendment does not modify any of the information previously reported in the Statement. All capitalized terms used herein which are not defined herein have the meanings given to such terms in the Statement.
Item 2.	Identity and Background
(a)	No change from the Statement.
(b)	No change from the Statement.
(c)	No change from the Statement.
(d)	No change from the Statement.
(e)	No change from the Statement.
(f)	No change from the Statement.
Item 3.	Source and Amount of Funds or Other Consideration
	No change from the Statement. The securities beneficially owned by the Reporting Person did no change in the past 60 days, and this Amendment is being filed to reflect a change in the beneficial ownership percentage of the Reporting Person due to a change in the number of ordinary shares issued of the Issuer, following the completion of the Issuer's share repurchase and cancellation.
Item 4.	Purpose of Transaction
	No change from the Statement.
Item 5.	Interest in Securities of the Issuer
(a)	Items 7 through 11 and Item 13 of the cover page of this Statement for the Reporting Person are incorporated herein by reference.
(b)	Items 7 through 11 and Item 13 of the cover page of this Statement for the Reporting Person are incorporated herein by reference.
(c)	To the knowledge of the Reporting Person, it has not effected any transactions in the Class A ordinary shares during the past 60 days.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Baihui Partners L.P.

Signature:	/s/ SHAN Yigang
Name/Title:	SHAN Yigang, Authorized Signatory
Date:	08/18/2026