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  "documentTitle": "KE Holdings (BEKE)",
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  "authorName": "Carson C. Block",
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  "presentationDate": "2021-12-16 00:00:00",
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  "notes": "Page 51 of 77",
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      "kind": "image",
      "text": "Screenshot of Lianjia transaction data page",
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      "text": "5. Another set of completed transaction data (chengjiaoData) was available at the city level. We made an additional data collection of this city level data for some cities; however the store level data was used as the primary date set.",
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      "text": "6. Approximately two thirds of the stores also listed their SAIC registration certificates on the platform alongside their SAIC registration number, registered name, and registered address. We used this SAIC license data to verify the store count, check ownership, and registration information.",
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      "text": "Ultimately, we obtained detailed information for approximately two-thirds of the transactions that comprise our data set. For example, we obtained detailed information for 96,636 of the 142,220 existing home transactions identified from 5/25 to 8/8 in Step 3, a 76-day period.",
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      "text": "Our program was able to collect the details of the most recent 10 existing home transactions’ details listed on each store’s page. If stores had more than 10 transactions during the 76-day period, only the most recent 10 transactions’ details were collected.",
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      "text": "For example, to obtain our estimate of the average number of transactions for Shanghai in 2Q, we collected the data at the city level from April 25, 2021 to May 15, 2021. The results found 3,000 transactions over these 21 days. To avoid collecting a partial day, we selected just the 20 full days from April 26 to May 15. We prorated the results to be consistent with the data set and estimated that all Lianjia stores in Shanghai made 10,857 transactions over a 76-day period.",
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      "text": "Above: example of completed transaction (chengjiao) data collected at the city level for Shanghai",
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