KE Holdings Inc. Announces the Passing of its Founder and Chairman ZUO Hui

KE Holdings stock tumbled 10% in premarket trading on the passing of its founder and chairman ZUO Hui.

KE Holdings Inc. announces that Mr. ZUO Hui, the founder and chairman of the board of directors of the Company, passed away on May 20, 2021 due to unexpected worsening of illness.

Mr. ZUO was a visionary leader since the Company's inception. Through his leadership, drive and determination to lead change, Mr. ZUO helped shape the Company into the leading platform it is today. He led the Company to execute his strong vision in building and launching ourBeikeplatform, pioneering the creation of ACN, continuously investing in talents and technologies, and propelling the evolvement of the housing transaction and service industry.

The directors and employees of the Company are saddened by the passing of Mr. ZUO. They extend their deepest condolences to Mr. ZUO's family.

Mr. PENG Yongdong, the Company's CEO and executive director, said: “we are very saddened by the passing of Mr. ZUO and extend our deepest sympathies to Mr. ZUO's family. Mr. ZUO was our visionary founder and leader, and a leading figure in China's housing transactions and services industry. He made invaluable contribution toBeikeandLianjiaand the industry over the past 20 years. With our unwaveringly strong conviction of doing the right thing for long term success, we will move forward to execute on our strategy and growth initiatives, pursue our mission of "admirable service, joyful living", and continue to create value for the industry. Our commitment to clients, employees, shareholders and business partners remains as strong as ever, and we will continue to do the right thing even if it's difficult."

The board of directors of the Company will make appropriate arrangements for corporate governance and related matters and make an announcement in due course within two weeks.