KE Holdings FY26 Q2 adjusted net income jumps 74.9% to RMB 3.19 billion; net revenues fall 5.7% to RMB 24.5 billion

KE Holdings posted Q2 net income of RMB 2.62 billion, more than doubled from RMB 1.31 billion a year earlier.

Net revenues fell 5.7% year-on-year to RMB 24.5 billion, despite total GTV rising 6.3% to RMB 933.8 billion.

Gross margin widened 6.7 percentage points to 28.6%, while operating expenses dropped 14.1% to RMB 3.99 billion.

Adjusted net income climbed 74.9% to RMB 3.19 billion, lifting margin 6 percentage points to 13%.

Existing-home GTV rose 8% to RMB 629.9 billion, while new-home GTV increased 1.2% to RMB 258.4 billion.