KE Holdings Inc. (BEKE) Announces Audit Committee Has Concluded Allegations in Muddy Waters Report Are Unfounded

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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 update on the status of its internal review. As previously reported, shortly after the release of a report issued by short selling firm Muddy Waters Capital LLC on December 16, 2021 (the “Muddy Waters Report”), the Company’s audit committee comprised of three independent directors (the “Audit Committee”) has begun an internal review of the key allegations raised in the Muddy Waters Report (the “Internal Review”), with the assistance of third-party professional advisors, including a law firm international and forensic accounting experts from a Big-Four accounting firm. company that is not the Company’s auditor. The internal review is now substantially complete. Based on this internal review, the Audit Committee concluded that the allegations in the Muddy Waters report were unfounded.

Mr. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, said, “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 against business fraud. We remain confident in the strength of our business fundamentals and will continue to focus on the overall improvement of service quality and technological empowerment of our connected service providers, and strive to achieve our vision of providing services quality housing for 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 disclosure. and timely in accordance with applicable rules and regulations. regulations.”

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