Director-Affiliated Entity Files Form 144 to Sell $18.4M of KE Holdings ADS

Executive Summary

On September 21, 2026, Clover Rich Limited, an entity associated with Director Yigang Shan, filed a Form 144 notice of proposed sale for 1,108,890 American Depositary Shares (ADSs) of KE Holdings Inc. ($BEKE). The aggregate market value of the proposed disposition is approximately $18,374,307.30, representing an implied price of $16.57 per ADS.

Transaction Details

• Issuer: KE Holdings Inc. (CIK: 0001809587)
• Filing Entity: Clover Rich Limited (CIK: 0001976835)
• Relationship: Director (signed on behalf of Yigang Shan)
• Security: ADS (each ADS represents 3 Class A ordinary shares)
• Volume: 1,108,890 ADSs
• Aggregate Market Value: $18,374,307.30
• Broker: Goldman Sachs & Co. LLC
• Acquisition Origin: Originally acquired on September 4, 2018, as part of pre-IPO historical acquisitions in exchange for target company equity.

Market Impact & Significance

This filing carries High significance given the material transaction size exceeding $18.3 million. Although Form 144 filings indicate intention to sell rather than completed executions, the proposed sale represents a sizeable liquidity event for a director-affiliated entity on the NYSE.