KE Holdings Inc. (BEKE) announces Audit Committee has concluded allegations in Muddy Waters report were not substantiated

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.”

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