KE Holdings Inc. released its 2025 annual report on April 24. Amid a complex market environment, the company maintained stable operations, achieving net revenue of 94.6 billion yuan, a 1% year-over-year increase. Net profit was 2.99 billion yuan, while adjusted net profit reached 5.02 billion yuan. The volume of existing home transactions grew by 11% annually, setting a new record. The proportion of non-real estate transaction business increased to 41%, with home renovation and furnishing revenue hitting 15.4 billion yuan. The rental business achieved profitability for the full year.

Additionally, the financial report indicated that co-founders Peng Yongdong and Shan Yigang donated the full value of their 2025 restricted stock awards. The after-tax funds will be used to provide medical security and children's education support for service providers in the housing industry and their families, offer assistance to new graduates, and establish a "Health Home Guardian Fund."

The report publicly disclosed that Peng Yongdong's total book compensation for 2025 was 235 million yuan. Of this amount, 226 million yuan represented the amortization of restricted stock granted in 2022 to meet compliance requirements during KE Holdings' Hong Kong listing. The related amortization amount decreased by 42% compared to the previous year. According to the accounting-defined vesting schedule, the five-year amortization period for the restricted stock is now in its mid-to-late stage.

Public information shows this is Peng Yongdong's second donation within a year. In April 2025, he announced a donation of 9 million Class A ordinary shares of KE Holdings. After fulfilling corresponding tax obligations, 50% of the funds were allocated for medical and health benefits for housing industry service providers and their family members, while the other 50% supported rental assistance for recent graduates and other groups. This marked Peng Yongdong's first sale of shares since KE Holdings' U.S. IPO in 2020, with all proceeds dedicated to donation. Prior to this, he had not sold, transferred, or otherwise disposed of any KE Holdings shares he beneficially owned.