KE Holdings completed the acquisition of Shengdu for $1.2bn.

KE Holdings, an online and offline platform for housing transactions and services, completed the acquisition of Shengdu, a home renovation services company, for $1.2bn. “We are excited to welcome Shengdu to join us and look forward to the strong synergies to be realized from the acquisition. We tapped into the home renovation industry in 2019 through the launch of our home renovation brand, Beiwoo, and believe the development of the industry calls for high-quality service, high-quality service providers, and standardized management and technology, which are what Shengdu and us believe in and zealously strive to achieve," Stanley Yongdong Peng, KE Holdings Chairman and CEO.