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  "docSlug": "b32b6e967105",
  "documentTitle": "KE Holdings (BEKE)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-12-16 00:00:00",
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  "notes": "Includes two screenshots of the BEKE platform showing store activity metrics (agents, clients, listings) at two different dates.",
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      "text": "The store’s address listed on BEKE’s platform leads to a large apartment complex, while its SAIC certificate provides a more detailed address. When our investigator visited the store’s SAIC registered address, we found a derelict and abandoned store front located in a former gate guard’s room.",
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      "text": "To spot check the data, our investigators visited seven cities... Below is a small sampling of our field work.",
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      "text": "The store’s address listed on BEKE’s platform leads to a large apartment complex... we feel this abandoned guard’s room is not likely an active location.",
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      "text": "The Nanchang Zhonghuan Ershishanzhong store was shown to be ‘active’ on BEKE’s platform. In fact, data collected from the platform showed that BEKE was supposedly listing between 89-136 properties through this store over the prior three months.",
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      "text": "Source: BEKE’s Platform",
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      "text": "26 Field visits were made to seven cities... 27 Ershishanzhong Store has sales record of 1 new home and 1 rental from 5/25/2021 to 8/8/2021.",
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      "kind": "title",
      "text": "b. Ghost Stores Masquerading as ‘Active’ Stores on BEKE’s Platform",
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      "text": "Example Ghost Store 1: Nanchang Zhonghuan Nanchang Ershishanzhong",
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