ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET |
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| Schedule of accounts receivable, net |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | | | | (in thousands) | New home transaction services | | 5,863,587 | | 3,558,480 | Existing home transaction services | | 546,658 | | 463,634 | Home renovation and furnishing | | 265,355 | | 407,180 | Home rental services | | 52,135 | | 54,531 | Emerging and other services | | 86,681 | | 106,273 | Accounts receivable | | 6,814,416 | | 4,590,098 | Allowance for credit losses | | (1,517,099) | | (1,498,651) | Accounts receivable, net | | 5,297,317 | | 3,091,447 |
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| Schedule of ageing analysis of accounts receivable based on the date of delivery of service to customers |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | | | | (in thousands) | – Up to 3 months | | 4,315,046 | | 2,198,699 | – 3 months to 1 year | | 649,209 | | 727,822 | – Over 1 year | | 1,850,161 | | 1,663,577 | Accounts receivable | | 6,814,416 | | 4,590,098 | Less: allowance for credit losses | | (1,517,099) | | (1,498,651) | Accounts receivable, net | | 5,297,317 | | 3,091,447 |
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| Schedule of movements in the allowance for credit losses of accounts receivable |
| | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | | | (in thousands) | Balance at the beginning of the year | | (1,951,419) | | (1,566,129) | | (1,517,099) | Additions | | (174,237) | | (108,963) | | (79,980) | Write‑offs | | 559,527 | | 157,993 | | 98,428 | Balance at the end of the year | | (1,566,129) | | (1,517,099) | | (1,498,651) |
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| Schedule of contract assets, net |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | | | | (in thousands) | Contract assets – gross | | 319,736 | | 959,080 | Allowance for credit losses | | (119,064) | | (113,551) | Contract assets, net | | 200,672 | | 845,529 |
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