KE Holdings Inc (BEKE) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.296 Hello, ladies and gentlemen. Thank you for standing by for KE Holdings Inc. 00:00:04.296 -- 00:00:07.960 Third Quarter 2025 Earnings Conference Call. 00:00:07.960 -- 00:00:11.965 Please note that today's call, including the management's prepared remarks and question 00:00:11.965 -- 00:00:17.632 and answer session, will all be in English, simultaneous interpretation in Chinese, 00:00:17.632 -- 00:00:20.715 is available on a separate line for the duration of the call. 00:00:20.715 -- 00:00:24.660 To access the call in Chinese, you will need to dial into the Chinese line. 00:00:24.660 -- 00:00:27.790 At this time, all participants are in listen-only mode. 00:00:27.790 -- 00:00:30.152 Today's conference call is being recorded. 00:00:30.152 -- 00:00:32.034 I will now turn the call over to your host, Ms. 00:00:32.034 -- 00:00:37.237 Siting Lee, IR Director of the company. Please go ahead, Siting. 00:00:37.719 -- 00:00:40.801 Thank you, Operator. Good evening and good morning, everyone. 00:00:40.801 -- 00:00:45.846 Welcome to KE Holdings or BECA's Third Quarter 2025 Earnings Conference 00:00:45.846 -- 00:00:50.590 Call. The company's financial and operating results were published in the press release 00:00:50.590 -- 00:00:56.674 earlier today and are posted on the company's IR website, investors.ke.com. 00:00:56.782 -- 00:01:02.169 On today's call, we have Mr. Stanley Peng, our co-founder, chairman, and chief executive 00:01:02.169 -- 00:01:07.896 officer, and Mr. Tao Xu, our executive director and chief financial officer. 00:01:07.896 -- 00:01:13.364 Mr. Xu will provide an overview of our business updates and financial performance. 00:01:13.364 -- 00:01:18.430 Then Mr. Peng will share more on our strategic development and innovative 00:0...