Caixin
Dec 20, 2021 08:22 PM
BUSINESS

Real Estate Services Provider KE Hits Back at Revenue Fraud Allegation

What’s new: Residential real estate services provider KE Holdings Inc. has rejected accusations of fraud from Muddy Waters, saying the U.S. short seller’s report contained errors and showed “a lack of basic understanding of the housing transactions industry in China.”

In the Thursday report, Muddy Waters said that its calculations showed KE Holdings inflated the value of new home sales it facilitated by over 126% and its revenue from commissions on home sales by about 77% to 96% in the second quarter and the third quarter of this year.

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