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    Daniel Chen

    Research Analyst at JPMorgan Chase & Co

    Daniel Chen is an Executive Director, Product Management at JPMorgan Chase & Co., specializing in product strategy and digital banking technologies. With a strong track record in leading product development and optimization within banking systems, he has delivered significant enhancements to client experience and operational efficiency. Daniel began his career managing ecommerce operations and advanced to executive leadership at JPMorgan Chase & Co., leveraging prior managerial experience in the ecommerce sector. He holds key industry licenses and certifications relevant to financial product management, and is recognized internally for driving successful large-scale product implementations.

    Daniel Chen's questions to KE Holdings (BEKE) leadership

    Daniel Chen's questions to KE Holdings (BEKE) leadership • Q2 2025

    Question

    Daniel Chen of JPMorgan Chase & Co asked about the home renovation and furnishing business, seeking to understand the key drivers behind its revenue growth and margin improvement, the potential for more cost optimization, and future expansion plans.

    Answer

    Executive Director and CFO Tao Xu attributed the strong performance to significant operational efficiency enhancements. He detailed cost reductions achieved by consolidating brands, increasing centralized material procurement to over 60%, and improving labor efficiency through optimized order dispatching. He also noted that sales costs decreased due to organizational streamlining and digital tools, leading to a substantial rise in the operational margin at the city level, as demonstrated by the Beijing model.

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