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    Jizhou Dong • Nomura

    Jizhou Dong's questions to Ke Holdings Inc (BEKE) leadership

    Jizhou Dong's questions to Ke Holdings Inc (BEKE) leadership • Q1 2025

    Question

    Jizhou Dong of Nomura Holdings, Inc. posed two questions: one on the operational specifics and margin outlook for the home renovation and furnishing business, and another on Beike's strategy and investment plan for AI.

    Answer

    CFO Tao Xu detailed the home renovation business's strong Q1, with revenue up 22.3% YoY and a record-high contribution margin of 32.6%. He elaborated on the extensive use of AI in this segment, from AI-powered design proposals that shorten contract times to intelligent construction monitoring and AI employees for internal management. Future AI efforts will focus on more accurate customer demand analysis and enhanced design efficiency.

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    Jizhou Dong's questions to Ke Holdings Inc (BEKE) leadership • Q4 2024

    Question

    Jizhou Dong inquired about Beike's plans to utilize advanced AI large models, such as DeepSeek, to enhance and optimize business operations across home renovation, property recommendations, and customer service to improve user experiences.

    Answer

    Yongdong Peng, Co-Founder, Chairman, and CEO, detailed Beike's strategy of integrating AI across its service, supply, and platform layers. He highlighted the development of proprietary large language and image models to power tools like an AI home-seeking assistant and VR home tour enhancements. Peng shared early results, including AI handling 60% of rental property owner tasks and generating 30% of R&D code, affirming Beike's commitment to increasing AI investment to reshape the residential services process.

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