China's Top Real Estate Brokerage's Big Share Buybacks In A Struggling Property Market
Q3 profit plunged 36.1% year‑on‑year to 747 million yuan. Revenue growth slowed to 2.1% YoY in Q3 at 23.1 billion yuan. KE repurchased $2.3B since 2022, $675M this year to support shares. Commissions shrinking; new‑home revenue down 14.1% and home improvement stagnant. UBS cut 2025–27 profit forecasts, downgraded to hold; forward P/E about 34.
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