KE Holdings (BEKE) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 30, 2022 7:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, ladies and gentlemen. Thank you for standing by for KE Holdings, Inc.'s Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today’s conference call is being recorded.

I would now like to turn the call over to your host, Ms. Siting Li, IR Director of the Company. Please go ahead, Siting.

Siting Li

Thank you, operator. Good evening, and good morning, everyone. Welcome to KE Holdings for Beike's third quarter 2022 earnings conference call. The Company's financial and operating results were published in the press release earlier today and are posted on the Company's IR website, investors.ke.com.

On today's call, we have Mr. Stanley Peng, our Co-Founder, Chairman and Chief Executive Officer; and Mr. Tao Xu, our Executive Director and Chief Financial Officer, Mr. Peng will provide an overview of our strategies and business developments, and Mr. Xu will provide additional details on the Company's financial results.

Before we continue, I refer you to our safe harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements. Please also note that Beike's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Please refer to the Company's press release, which contains a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures. Lastly, unless otherwise stated, all figures mentioned during this conference call are in RMB.

With that, I will now turn the call over to our Chairman and CEO, Mr. Stanley Peng. Please go ahead, Stanley.

Stanley Peng

Thank you, Siting. Hello, everyone. Thank you for joining Beike's third quarter 2022 Earnings Conference Call. Against the many uncertainties in the real estate market, we achieved a series of breakthroughs in the third quarter.

We have supported our stores and agents’ network to consistently outperform the market and achieved steady efficiency and profitability improvements in each business line on our platform. This was thanks to the initiatives we implemented beginning last year to enhance efficiencies. I believe ultimately, these achievements stemmed from the enterprising spirit of the organization, from the perseverance of each one of us on the platform in the face of external challenges.

November 12 marked the 21st anniversary of our organization's founding. To celebrate this momentous occasion, we organized a “homelinker” event, witnessed online by over 7,000 “homelinkers” who have stayed with us for more than 10 years, spreading in more than 80 cities across China.Homelinkers are employees who have been with our organization, share the same experience and collective memories and have learned the same methodologies.