KE Holdings (BEKE) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 23, 2022 8:00 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 Second 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 today, Mr. Matthew Zhao, IR Director of the company. Please go ahead, Matthew.

Matthew Zhao

Thank you, operator. Good evening, and good morning, everyone. Welcome to KE Holdings, Inc. or Beike’s second 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 Yongdong 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 strategy 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 all these non-GAAP measures to comparable GAAP measures. Lastly, unless otherwise stated, all figures mentioned during this conference call are in renminbi.

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

Yongdong Peng

Thank you, Matthew. Hello, everyone. Thank you for joining Beike second quarter 2022 earnings conference call. In the second quarter on a proactively easing purchase for industry and the effective pandemic controls. China’s real estate transaction market saw a series of positive changes, especially in the existing home market. Meanwhile, we improved our performance operating efficiency and stability in a scale of our stores and agents as well as year productivity by the internal and external environment we live in remains follow challenges.

Micro uncertainty continued to increase and our businesses are becoming more diverse and complex as we advance our One Body, Two Wings strategy. Faced with such a complex internal and external environments to command and control our diversifying businesses, our organization need to have deeply what players at the center that we need to believe service providers, the real estate agents, when a veteran workers and foreman, designers, customer service representatives, rental housekeepers.