KE Holdings Inc.

Information to be Included in Statements Filed Pursuant

to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Class A Ordinary Shares, par value $0.00002 per share

482497104 (CUSIP Number) December 31, 2020

(Date of Event Which Requires Filing of this Statement)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 482497104 Schedule 13G Page 1 of 8

4 Citizenship or Place of Organization England and Wales

Aggregate Amount Beneficially Owned by Each Reporting Person

10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares Not Applicable

11 Percent of Class Represented by Amount in Row 9 11.8%

CUSIP No. 482497104 Schedule 13G Page 2 of 8

Aggregate Amount Beneficially Owned by Each Reporting Person

10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares Not Applicable

11 Percent of Class Represented by Amount in Row 9 11.8%

CUSIP No. 482497104 Schedule 13G Page 3 of 8

SVF II Shell Subco (Singapore) Pte. Ltd.

Aggregate Amount Beneficially Owned by Each Reporting Person

10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares Not Applicable

11 Percent of Class Represented by Amount in Row 9 11.8%

CUSIP No. 482497104 Schedule 13G Page 4 of 8

(b) Address of Issuer’s Principal Executive Offices:

Oriental Electronic Technology Building,

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of: SB Investment Advisers (UK) Limited (“SBIA UK”) SoftBank Vision Fund II-2, L.P. (“SVF II-2”) SVF II Shell Subco (Singapore) Pte. Ltd. (“Shell Subco”)

(b) Address or Principal Business Office:

The address for SBIA UK is 69 Grosvenor Street, London W1K 3JP, United Kingdom. The address for SVF II-2 is Aztec Group House, 11-15 Seaton Place, St. Helier, Jersey JE4 0QH. The address for Shell Subco is 138 Market Street, #27-01A, CapitaGreen, Singapore.

(c) Citizenship of each Reporting Person is:

SBIA UK is organized under the laws of England and Wales. SVF II-2 is organized under the laws of Jersey. Shell Subco is organized under the laws of Singapore.

Class A Ordinary Shares, par value $0.00002 per share (“Ordinary Shares”).

There is no CUSIP number assigned to the Ordinary Shares. CUSIP number 482497104 has been assigned to the American Depositary Shares of the Issuer. Each American Depositary Share represents 3 Ordinary Shares.

CUSIP No. 482497104 Schedule 13G Page 5 of 8

The ownership information presented below represents beneficial ownership of Ordinary Shares of the Issuer as of December 31, 2020, based upon 2,666,966,855 Ordinary Shares outstanding as of December 31, 2020.

Sole power to vote or to direct the vote:

Sole power to dispose or to direct the disposition

SVF II Shell Subco (Singapore) Pte. Ltd.

Shell Subco is the record holder of the Ordinary Shares reported herein.

Shell Subco is a wholly owned subsidiary of SVF II-2. SBIA UK has been appointed as alternative investment fund manager (“AIFM”) and is exclusively responsible for managing SVF II-2 in accordance with the Alternative Investment Fund Managers Directive and is authorized and regulated by the UK Financial Conduct Authority accordingly. As AIFM of SVF II-2, SBIA UK is exclusively responsible for making all decisions related to the acquisition, structuring, financing and disposal of SVF II-2’s investments.

ITEM 5. Ownership of Five Percent or Less of a Class.