KE Holdings Inc. Announces Closing of Shengdu Acquisition

BEIJING--(BUSINESS WIRE)--KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE), a leading integrated online and offline platform for housing transactions and services, today announced that the Company successfully completes the acquisition of Shengdu Home Renovation Co., Ltd. (together with its subsidiaries and affiliates, “Shengdu”) for an aggregate consideration of RMB3.92 billion in cash and 44,315,854 Class A ordinary shares (or equivalent to approximately 14,771,951 American depositary shares) of the Company in equity. Upon closing of the acquisition, the Company beneficially owns 100% of the issued and outstanding shares of Shengdu, and Shengdu becomes a consolidated subsidiary of the Company.

About KE Holdings Inc.

KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building the industry infrastructure and standards in China to reinvent how service providers and housing customers efficiently navigate and consummate housing transactions, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 20 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build the industry infrastructure and standards and drive the rapid and sustainable growth of Beike.

About Shengdu Home Renovation Co., Ltd.

Founded in 2002 and headquartered in Hangzhou, Shengdu is a full-service home renovation service provider in China. With 20 years of operating experience, Shengdu has now achieved full coverage in East China market, and is gradually expanding its business in more major cities across the country, providing quality one-stop home renovation and decoration services for a large customer base.

Safe Harbor Statement

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