KE Holdings Inc. (Beike) is the largest integrated online and offline platform for housing transactions and services in the People's Republic of China. The company operates through four primary business segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Home Rental Services. The Existing Home Transaction Services segment generates revenue primarily through agency commissions from sales and leases of existing homes, as well as platform and franchise fees charged to brokerage firms operating on the Beike platform. The New Home Transaction Services segment provides agency services to real estate developers, earning commissions on new property sales.
Beyond core real estate brokerage, KE Holdings has expanded into the Home Renovation and Furnishing segment, offering one-stop solutions that include interior design, remodeling, and after-sales maintenance. The Home Rental Services segment provides rental property management and related services. A key competitive advantage for Beike is its proprietary Agent Cooperation Network (ACN), an operating system that standardizes real estate transactions and fosters collaboration among various service providers and brokers. By combining the extensive offline footprint of its Lianjia brokerage brand with the digital infrastructure of the Beike platform, KE Holdings maintains a dominant market position in China's housing transaction industry.
