KE Holdings Inc. Announces Substantial Completion of Internal Review
January 28 2022 - 7:00AM
Business Wire
KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE), a
leading integrated online and offline platform for housing
transactions and services, today provided an update on the status
of its internal review. As previously disclosed, shortly after the
publication of a report issued by the short-seller firm Muddy
Waters Capital LLC on December 16, 2021 (the “Muddy Waters
Report”), the audit committee of the Company consisting of three
independent directors (the “Audit Committee”) commenced an internal
review into the key allegations raised in the Muddy Waters Report
(the “Internal Review”), with the assistance of third-party
professional advisors including an international law firm and
forensic accounting experts from a Big-Four accounting firm that is
not the Company's auditor. The Internal Review is now substantially
complete. Based on such Internal Review, the Audit Committee has
concluded that the allegations in the Muddy Waters Report were not
substantiated.
Mr. Stanley Yongdong Peng, Chairman of the Board and Chief
Executive Officer of Beike, stated, “we are pleased that the Audit
Committee has substantially completed its internal review. The
Company enshrines business integrity as one of its core values and
DNA, and has a zero-tolerance policy towards commercial frauds. We
remain confident about our strong business fundamentals, and will
continue to focus on the overall service quality improvement and
technological empowerment to our connected service providers, and
strive to achieve our vision of providing quality housing related
services to 300 million families in China.”
Mr. Tao Xu, Executive Director and Chief Financial Officer of
Beike, added, “we reiterate our commitment to maintaining the
highest standards of data integrity, corporate governance and
internal control, as well as transparent and timely disclosure in
compliance with the applicable rules and regulations.”
About KE Holdings Inc.
KE Holdings Inc. is a leading integrated online and offline
platform for housing transactions and services. The Company is a
pioneer in building the industry infrastructure and standards in
China to reinvent how service providers and housing customers
efficiently navigate and consummate housing transactions, ranging
from existing and new home sales, home rentals, to home renovation,
real estate financial solutions, and other services. The Company
owns and operates Lianjia, China’s leading real estate brokerage
brand and an integral part of its Beike platform. With 20 years of
operating experience through Lianjia since its inception in 2001,
the Company believes the success and proven track record of Lianjia
pave the way for it to build the industry infrastructure and
standards and drive the rapid and sustainable growth of Beike.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Among other things, the business outlook
and quotations from management in this press release, as well as
Beike’s strategic and operational plans, contain forward-looking
statements. Beike may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the “SEC”), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about KE Holdings Inc.’s beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Beike’s goals and strategies; Beike’s
future business development, financial condition and results of
operations; expected changes in the Company’s revenues, costs or
expenditures; Beike’s ability to empower services and facilitate
transactions on Beike’s platform; competition in our industry;
relevant government policies and regulations relating to our
industry; Beike’s ability to protect the Company’s systems and
infrastructures from cyber-attacks; Beike’s dependence on the
integrity of brokerage brands, stores and agents on the Company’s
platform; general economic and business conditions in China and
globally; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in KE Holdings Inc.’s filings with the SEC. All
information provided in this press release is as of the date of
this press release, and KE Holdings Inc. does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220128005211/en/
For investor and media inquiries:
In China: KE Holdings Inc. Investor Relations Matthew Zhao
Siting Li E-mail: ir@ke.com
The Piacente Group, Inc. Ross Warner Tel: +86-10-6508-0677
E-mail: ke@tpg-ir.com
In the United States: The Piacente Group, Inc. Brandi Piacente
Tel: +1-212-481-2050 E-mail: ke@tpg-ir.com
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