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      "text": "We are short BEKE because we conclude the Company is engaged in systemic fraud, by our estimate, inflating its new home sales GTV by over ~126% and its commission revenues by approximately ~77–96%.",
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      "text": "RMB BN; Reported home sales GTV; Home sales GTV estimate from collected data; Inflated %; 2Q 21; 3Q 21; 2Q-3Q 2021",
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      "text": "Report Date: December 16, 2021; Industry: Real Estate Services; Company: KE Holdings Inc.; Stock Price: $18.68; Market Cap: $22.2 billion; Average Daily Volume (3-month): $196.6 million",
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