Financial Performance - Total transaction value for 2023 reached RMB 3,142.9 billion (USD 442.7 billion), a year-on-year increase of 20.4%[1] - Net income for 2023 was RMB 77.8 billion (USD 11.0 billion), representing a year-on-year growth of 28.2%[2] - The company recorded a net profit of RMB 5.89 billion (USD 830 million) for 2023, compared to a net loss of RMB 1.4 billion in 2022[2] - Total revenue for 2023 increased by 28.2% to RMB 77.8 billion (USD 11 billion) from RMB 60.7 billion in 2022, driven by a 20.4% rise in total transaction volume to RMB 3.14 trillion (USD 442.7 billion)[15] - The company reported a significant increase in user data, with a notable rise in active users contributing to revenue growth[39] - Total net income for the year 2023 reached RMB 11,157,625 thousand, representing a significant increase from RMB 8,460,754 thousand in 2022, marking a growth of approximately 31.8%[44] User Engagement - The number of active stores as of December 31, 2023, was 42,021, an increase of 12.2% year-on-year[2] - The average monthly active users in Q4 2023 was 43.2 million, up from 36.6 million in the same period of 2022[4] Revenue Breakdown - In Q4 2023, the company's net revenue increased by 20.6% year-over-year to RMB 20.2 billion (USD 2.8 billion) from RMB 16.7 billion in Q4 2022[6] - The net revenue from the existing home business grew by 14.6% year-over-year to RMB 6 billion (USD 900 million) in Q4 2023, driven by a 30.1% increase in total transaction value to RMB 468.1 billion (USD 65.9 billion)[6] - The net revenue from the new home business decreased by 8.5% year-over-year to RMB 7.6 billion (USD 1.1 billion) in Q4 2023, with total transaction value declining by 9.7% to RMB 238 billion (USD 33.5 billion)[7] - The net revenue from home decoration and furniture surged by 73.9% year-over-year to RMB 3.6 billion (USD 500 million) in Q4 2023, attributed to increased orders and improved delivery capabilities[7] Profitability Metrics - Adjusted net profit for 2023 was RMB 9.8 billion (USD 1.38 billion), a significant increase of 244.7% year-on-year[2] - Operating profit for 2023 was RMB 4.8 billion (USD 676 million), a significant turnaround from an operating loss of RMB 833 million in 2022, with an operating margin of 6.2%[20] - Adjusted operating profit for 2023 was RMB 8.7 billion (USD 1.2 billion), compared to RMB 2.3 billion in 2022, with an adjusted operating profit margin of 11.2%[21] Cash Management - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB 60.1 billion (USD 8.5 billion) as of December 31, 2023[14] - The company reported a total increase in cash and cash equivalents of RMB 3,862,085 thousand for Q4 2023, a significant improvement from a decrease of RMB 790,320 thousand in Q4 2022[44] Shareholder Returns - The company plans to distribute a final cash dividend of approximately USD 400 million, following a special cash dividend of about USD 200 million in Q3 2023[4] - The board has approved a final cash dividend of $0.117 per Class A common share or $0.351 per ADS, totaling approximately $400 million, to be paid from the company's retained earnings[24] Operational Efficiency - Operating costs in Q4 2023 totaled RMB 15.1 billion (USD 2.1 billion), up from RMB 12.7 billion in Q4 2022[8] - Operating expenses rose by 43.5% year-over-year to RMB 5.3 billion (USD 700 million) in Q4 2023, driven by increases in general and administrative expenses as well as sales and marketing expenses[11] - Research and development expenses increased by 4.9% year-over-year to RMB 534 million (USD 75 million) in Q4 2023, reflecting higher personnel costs[11] Strategic Focus - The company aims to focus on quality and efficiency while seeking innovative solutions, including digitalization and technology upgrades, in 2024[4] - The company aims to leverage its strong financial management capabilities to ensure healthy growth and navigate market fluctuations[5] - Beike Holdings is committed to continuous development and expansion in the real estate service sector in China[31] Market Position - Beike Holdings reported a total asset increase from RMB 109.35 billion in 2022 to RMB 120.33 billion in 2023, representing a growth of approximately 10.8%[35] - The company experienced a significant increase in rental housing management revenue due to the growth in the number of rental properties, indicating a successful expansion strategy in the rental market[17] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39] - The company will hold an earnings conference call on March 14, 2024, to discuss financial performance[25]

专题：稳中求进 发展新质生产力——2024全国两会特别报道 3月5日，国务院总理李强代表国务院，向十四届全国人大二次会议作政府工作报告，报告提出“加快发展新质生产力”，并在这一篇章中提出“深入推进数字经济创新发展。制定支持数字经济高质量发展政策，积极推进数字产业化、产业数字化，促进数字技术和实体经济深度融合。” 近年来，直播电商经济作为数字经济的新业态快速发展。但自电商诞生以来，就有挤压实体经济的论调，直播电商爆发后，“电商挤垮实体店铺”的言论再次被人提出。3月7日，新京报贝壳财经“两会经济策”直播邀请了多位政企学研专家对“直播电商如何促进实体经济”进行多方探讨。 直播中，全国人大代表、儋州市白马井镇学兰村党支部副书记吴少玉判断，近年来直播电商经济作为一种新业态快速发展，在增强经济发展韧性、推动高质量发展方面做出了重要贡献，成为了促消费、稳外贸、保民生的重要力量。 全国人大代表、儋州市白马井镇学兰村党支部副书记吴少玉。受访者供图 直播电商在经济社会发展中发挥了重要作用 吴少玉认为，直播电商在经济社会发展中发挥了重要作用，具体体现在激发了潜在购买欲望，扩大了社会总需求；有利于促进产业链上下游协同发展；拓展了 ...

南方财经全媒体记者高慧超 实习生李佩 卢诗文 邓菲 佛山报道 过去两年，佛山刺激楼市政策已应出尽出。2022年-2023年，佛山陆续推出全市全面解除限购、认房不认贷、提高公积金贷款额度等超十个政策，覆盖信贷、公积金、户籍等全方面。在一系列楼市利好政策下，2023年佛山楼市终于止跌。 2021-2022年，佛山一二手房成交量持续下跌，从15.31万套跌至11.34万套。贝壳研究院发布报告显示，2023年佛山一二手房共成交113413套房，与2022年基本持平，三年首次止跌。其中二手房增长明显，全年网签59013套，同比上涨32.9%，成为了拉动佛山住宅成交的绝对主力。 但没“暖”多久，佛山楼市又开始遇冷。诸葛数据研究中心数据显示，2024年春节八天假期，佛山新建商品住宅日均成交2套，同比下降46.37%，位列重点10城跌幅榜第三。克而瑞数据也显示，佛山春节周商品住宅成交面积0.17万平方米，同比2023年腰斩，降幅达到55%。 2023年，佛山楼市企稳，为何2024年春又会遭遇“倒春寒”？ 广深虹吸效应明显 资深房地产自媒体“星星佬看楼市”在接受南方财经全媒体采访时分析，佛山于2023年推出了一系列楼市松绑政策 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 KE Holdings Inc. 貝殼控股有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：2423） 內幕消息 貝殼控股有限公司公佈2023年第三季度未經審計財務業績 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.09條及《證券及期貨 條例》（第571章）第XIVA部而刊發。 中國北京，2023年11月8日－領先的線上線下一體化的房產交易和服務平台貝 殼控股有限公司（「貝殼」或「本公司」）（紐交所代碼：BEKE；香港聯交所代號： 2423）今日公佈其截至2023年9月30日止第三季度未經審計財務業績，有關業績乃 根據不同於國際財務報告準則的美國公認會計準則（「公認會計準則」）編製。 本公司股東及潛在投資者於買賣本公司證券時務請審慎行事。 2023年第三季度業務及財務摘要 • 總交易額1為人民幣6,552億元（898億美元），同比減少11.1%。存量房交易的 總交易 ...

Financial Performance - Total transaction value for the six months ended June 30, 2023, reached RMB 1,752.1 billion, a 43.0% increase from RMB 1,225.5 billion in the same period of 2022[4] - Net income for the six months ended June 30, 2023, was RMB 39.8 billion, up 51.0% from RMB 26.3 billion in the same period of 2022[4] - Adjusted net profit for the six months ended June 30, 2023, was RMB 59.25 billion, compared to an adjusted net loss of RMB 5.92 billion in the same period of 2022[4] - The net income for the six months ended June 30, 2023, increased by 51.0% to RMB 39.8 billion, up from RMB 26.3 billion in the same period of 2022, primarily due to an increase in total transaction volume[13] - The total transaction volume for the six months ended June 30, 2023, was RMB 1,752.1 billion, a 43.0% increase from RMB 1,225.5 billion in the same period of 2022, driven by the recovery of the housing market post-COVID-19 restrictions[13] - Total net revenue for the six months ended June 30, 2023, reached RMB 39,762,001, a significant increase of 51% compared to RMB 26,325,057 for the same period in 2022[43] - The net profit for the first half of 2023 was RMB 4,049,251, a turnaround from a net loss of RMB 2,485,342 in the same period last year[44] User and Agent Growth - The number of active agents increased by 5.0% to 435,813 as of June 30, 2023, compared to 414,915 as of June 30, 2022[4] - The average monthly active users reached 48 million for the three months ended June 30, 2023, compared to 43 million for the same period in 2022[4] Business Segments Performance - The total transaction value for existing homes was RMB 1,120.8 billion, a 46.0% increase from RMB 767.6 billion in the same period of 2022[4] - The total transaction value for new homes was RMB 572.9 billion, a 37.9% increase from RMB 415.4 billion in the same period of 2022[4] - The company’s home decoration and furnishing business saw a total transaction value of RMB 6.1 billion, up from RMB 1.5 billion in the same period of 2022[4] - The net income from the new housing business rose by 36.0% to RMB 17.1 billion for the six months ended June 30, 2023, compared to RMB 12.6 billion in the same period of 2022, with total transaction volume increasing by 37.9% to RMB 572.9 billion[14] - The net income from the home decoration and furnishing business reached RMB 4.0 billion for the six months ended June 30, 2023, significantly up from RMB 1.1 billion in the same period of 2022, driven by the acquisition of Shengdu Home Decoration and increased order volume[15] Cost and Profitability - Total operating costs increased by 31.2% from RMB 21.4 billion in the same period of 2022 to RMB 28.1 billion for the six months ended June 30, 2023[16] - Gross profit rose by 137.3% from RMB 4.9 billion in the same period of 2022 to RMB 11.7 billion for the six months ended June 30, 2023, with a gross margin of 29.4% compared to 18.7% in 2022[18] - Operating profit for the six months ended June 30, 2023, was RMB 4.1 billion, compared to an operating loss of RMB 2.4 billion in the same period of 2022, resulting in an operating margin of 10.2%[20] - Net profit for the six months ended June 30, 2023, was RMB 4.0 billion, compared to a net loss of RMB 2.5 billion in the same period of 2022[21] Cash Flow and Financial Position - Operating cash flow for the six months ended June 30, 2023, was RMB 7,431,689 thousand, up from RMB 3,808,031 thousand in the same period of 2022[26] - Total cash, cash equivalents, and restricted cash as of June 30, 2023, amounted to RMB 60.8 billion, slightly down from RMB 61.1 billion as of December 31, 2022[25] - Total financial debt as of June 30, 2023, was RMB 14,674,110 thousand, an increase from RMB 12,191,275 thousand as of December 31, 2022[27] - The company believes its current cash resources will be sufficient to meet its operational and capital expenditure needs, but may require additional cash resources for future investments or acquisitions[25] - As of June 30, 2023, the company's debt-to-asset ratio was 38.0%, an increase from 36.8% as of December 31, 2022[30] Employee and Operational Metrics - The company employed a total of 102,278 employees as of June 30, 2023, with the majority located in mainland China[35] - The company has no major foreign exchange risk as most of its income and expenses are denominated in RMB, despite a 5.1% depreciation of RMB against USD in the first half of 2023[30] - The company has no significant labor disputes and has established standard labor contracts with its employees[36] Research and Development - The company continues to focus on research and development, with R&D expenses amounting to RMB 931,529, down from RMB 1,527,590, reflecting efficiency improvements[43] - The company recognizes all research and development expenses as incurred, which primarily include employee-related compensation costs[114] Share-Based Compensation - Share-based compensation expenses totaled RMB 1,582,982 thousand for the six months ended June 30, 2023, up from RMB 957,459 thousand in the same period of 2022[191] - The company granted 37,712,316 restricted stock units under the 2020 Global Share Incentive Plan, which generally vest over a continuous service period of 1 to 5 years[196] - The total share-based compensation expense related to stock options for the six months ended June 30, 2023, was RMB 405.4 million, compared to RMB 521.3 million in the same period of 2022[194] Taxation - The income tax expense for the six months ended June 30, 2023, was RMB 1,401,522 thousand, with an effective tax rate of 25.7%, compared to an expense of RMB 619,255 thousand and an effective rate of (33.2%) in 2022[189] - There were no significant uncertain tax positions or penalties related to tax matters for the six months ended June 30, 2023[112] Investments and Financial Instruments - The company recorded no impairment for equity method investments during the six months ended June 30, 2023[159] - The company’s total unrealized losses for private equity fund investments, including impairments, amounted to RMB (781.1) million as of June 30, 2023[168] - The company’s held-to-maturity debt investments have a carrying amount of RMB 1,464.7 million as of June 30, 2023, with unrealized gains of RMB 2.9 million and unrealized losses of RMB (11.6) million[171] Lease and Rental Income - The total rental income from operating leases for the six months ended June 30, 2023, was RMB 1,940,998 thousand, a significant increase of 437.5% compared to RMB 361,145 thousand for the same period in 2022[155] - The total operating lease and other commitments amounted to RMB 426.067 million, with significant obligations due within one year[34] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[45] - The company aims to enhance service quality and asset management efficiency through standardized service delivery and improved pricing capabilities in the rental housing sector[11]

Financial Performance - Total transaction value for the six months ended June 30, 2023, was RMB 1,752.1 billion, an increase of 43.0% compared to RMB 1,225.5 billion in the same period of 2022[1]. - Net income for the six months ended June 30, 2023, was RMB 39.8 billion, a 51.0% increase from RMB 26.3 billion in the same period of 2022[3]. - Adjusted net profit for the six months ended June 30, 2023, was RMB 59.25 billion, compared to an adjusted net loss of RMB 5.92 billion in the same period of 2022[3]. - The total transaction value for existing home sales was RMB 1,120.8 billion, a 46.0% increase from RMB 767.6 billion in the same period of 2022[1]. - The total transaction value for new home sales was RMB 572.9 billion, a 37.9% increase from RMB 415.4 billion in the same period of 2022[1]. - For the six months ended June 30, 2023, net income increased by 51.0% to RMB 39.8 billion, up from RMB 26.3 billion in the same period of 2022, primarily due to an increase in total transaction volume[13]. - Total transaction volume for the same period reached RMB 1.7521 trillion, a 43.0% increase from RMB 1.2255 trillion in 2022, driven by the recovery of the housing market post-COVID-19 restrictions[13]. - The net income from the existing home business rose by 33.5% to RMB 15.6 billion, with total transaction volume increasing by 46.0% to RMB 1.1208 trillion[13]. - The net income from the new home business grew by 36.0% to RMB 17.1 billion, with total transaction volume rising by 37.9% to RMB 572.9 billion[14]. - The net profit for the six months ended June 30, 2023, was RMB 4 billion, compared to a net loss of RMB 2.5 billion in the same period of 2022[20]. - The total net revenue for the six months ended June 30, 2023, was RMB 39,762,001, an increase of 51% compared to RMB 26,325,057 for the same period in 2022[61]. Operational Metrics - The number of active agents as of June 30, 2023, was 409,054, a 7.6% increase from 380,284 as of June 30, 2022[3]. - The average monthly active users for the three months ended June 30, 2023, reached 48 million, up from 43 million in the same period of 2022[3]. - The number of stores as of June 30, 2023, was 43,000, stable compared to 42,831 as of June 30, 2022[3]. - The company has focused on enhancing the operational efficiency of agents and stores, leading to a 16% year-on-year increase in the average number of agents per store in the second quarter[6]. - The rental housing management service managed over 120,000 units as of June 30, 2023, with an occupancy rate of 94.5%, up 1.1 percentage points from Q1 2023[11]. Revenue Segments - The home decoration and furnishing business achieved a total transaction value of RMB 6.1 billion, significantly up from RMB 1.5 billion in the same period of 2022[1]. - The net revenue for the home decoration and furnishing segment for the six months ended June 30, 2023, was RMB 4 billion, up from RMB 1.1 billion in the same period of 2022, primarily due to the acquisition of Shengdu Home Decoration Co., Ltd. and increased order volume[15]. - The net revenue from emerging businesses and others increased by 217.3% to RMB 3 billion for the six months ended June 30, 2023, compared to RMB 1 billion in the same period of 2022, mainly driven by growth in rental housing management services and financial services[15]. Cost and Profitability - Total operating costs rose by 31.2% to RMB 28.1 billion for the six months ended June 30, 2023, from RMB 21.4 billion in the same period of 2022[16]. - Gross profit increased by 137.3% to RMB 11.7 billion for the six months ended June 30, 2023, with a gross margin of 29.4%, compared to 18.7% in the same period of 2022[17]. - Operating profit for the six months ended June 30, 2023, was RMB 4.1 billion, compared to an operating loss of RMB 2.4 billion in the same period of 2022, resulting in an operating margin of 10.2%[18]. - Adjusted operating profit for the six months ended June 30, 2023, was RMB 6 billion, compared to an adjusted operating loss of RMB 1.1 billion in the same period of 2022, with an adjusted operating margin of 15.0%[19]. Cash Flow and Liquidity - As of June 30, 2023, the company's cash, cash equivalents, restricted cash, and short-term investments totaled RMB 60.8 billion, slightly down from RMB 61.1 billion as of December 31, 2022[21]. - As of June 30, 2023, the net cash generated from operating activities was RMB 7,431,689 thousand, compared to RMB 3,808,031 thousand for the same period in 2022, representing an increase of approximately 95.5%[22]. - The total cash and cash equivalents at the end of the period reached RMB 37,812,092 thousand, up from RMB 19,380,403 thousand year-over-year, indicating a growth of approximately 95.2%[22]. - The company's total liabilities as of June 30, 2023, amounted to RMB 14,674,110 thousand, an increase from RMB 12,191,275 thousand as of December 31, 2022, reflecting a rise of approximately 20.4%[22]. - The debt-to-asset ratio as of June 30, 2023, was 38.0%, compared to 36.8% as of December 31, 2022, indicating a slight increase in leverage[26]. Shareholder Returns - The board has approved a special cash dividend of $0.057 per ordinary share and $0.171 per American depositary share, totaling approximately $200 million to be paid from the company's cash reserves[39]. - To qualify for the dividend, ordinary shareholders must submit their share transfer documents by September 15, 2023, at 4:30 PM Beijing/Hong Kong time[39]. - The expected payment date for the dividend is around September 27, 2023, for ordinary shareholders and October 3, 2023, for American depositary shareholders[39]. - The company has initiated a share repurchase plan allowing for the buyback of up to $1 billion of Class A common stock and/or American Depositary Shares within 12 months, which has been extended to $2 billion until August 31, 2024[34]. - As of August 31, 2023, the company repurchased a total of 40,968,424 American Depositary Shares, equivalent to 122,905,272 Class A common shares, for a total consideration of $604,957,928[34]. Corporate Governance - The board has not separated the roles of Chairman and CEO, believing that this structure enhances unified leadership and effective strategic planning[38]. - The company has complied with all applicable principles and code provisions of the corporate governance code during the reporting period[38]. - The board of directors consists of executive and non-executive members, ensuring diverse oversight and governance[45]. Future Outlook - Forward-looking statements are made regarding the company's business outlook and strategic plans, which involve inherent risks and uncertainties[45]. - The company has no major future plans for significant investments or capital assets as of June 30, 2023[26]. Accounting Policies - The company uses non-GAAP financial metrics to assess its operating performance, including adjusted operating profit and adjusted net profit, to identify potential business trends[42]. - Adjusted operating profit is defined as operating profit excluding stock-based compensation, intangible asset amortization, and impairment of goodwill and other long-term assets[43]. - The company encourages investors to review non-GAAP financial metrics alongside GAAP metrics for a comprehensive understanding of its performance[43].

Financial Performance - Total transaction value for Q2 2023 reached RMB 780.6 billion (USD 107.6 billion), a year-on-year increase of 22.1%[1] - Net revenue for Q2 2023 was RMB 19.5 billion (USD 2.7 billion), reflecting a year-on-year growth of 41.4%[2] - Net profit for Q2 2023 was RMB 1.3 billion (USD 179 million), compared to a net loss of RMB 1.87 billion in the same period last year[2] - Adjusted net profit for Q2 2023 was RMB 2.36 billion (USD 326 million), compared to a net loss of RMB 619 million in Q2 2022[2] - Gross profit for Q2 2023 rose by 97.3% year-over-year to RMB 5.3 billion (USD 0.7 billion), with a gross margin of 27.4%, up from 19.7% in Q2 2022[9] - Operating profit for Q2 2023 was RMB 1.08 billion (USD 0.149 billion), compared to an operating loss of RMB 1.52 billion in Q2 2022, resulting in an operating margin of 5.5%[10] - Adjusted operating profit for Q2 2023 was RMB 2.15 billion (USD 0.296 billion), compared to an adjusted operating loss of RMB 690 million in Q2 2022, with an adjusted operating margin of 11.0%[11] - The company reported a significant increase in emerging business and other net revenue, which rose by 213.9% year-over-year to RMB 1.7 billion (USD 0.2 billion) in Q2 2023, mainly due to growth in rental housing management and financial services[7] - Total net revenue for the six months ended June 30, 2023, was RMB 39,762,001, an increase of 51% compared to RMB 26,325,057 for the same period in 2022[30] Business Segments - Existing home business net revenue increased by 15.9% year-over-year to RMB 6.4 billion (USD 0.9 billion) in Q2 2023, with total transaction volume rising by 16.0% to RMB 45.65 billion (USD 6.3 billion)[5] - New home business net revenue grew by 30.4% year-over-year to RMB 8.7 billion (USD 1.2 billion) in Q2 2023, with total transaction volume increasing by 32.4% to RMB 29.5 billion (USD 4.07 billion)[6] - Home decoration and furnishing net revenue surged to RMB 2.6 billion (USD 0.4 billion) in Q2 2023, up from RMB 1 billion in Q2 2022, driven by increased orders and improved delivery capabilities[6] - The revenue from the existing home business for the three months ended June 30, 2023, was RMB 6,415,888, an increase of 16% from RMB 5,534,809 in the same period of 2022[30] - The contribution profit from the new home business for the three months ended June 30, 2023, was RMB 2,365,307 thousand, up 50.5% from RMB 1,570,772 thousand in the same period of 2022[39] - The contribution profit from the home decoration and furnishing business for the three months ended June 30, 2023, was RMB 776,759 thousand, a significant increase from RMB 295,063 thousand in the same period of 2022[39] - The net income from emerging businesses and others for the three months ended June 30, 2023, was RMB 1,747,504 thousand, compared to RMB 556,622 thousand in the same period of 2022, marking a growth of 213.5%[39] Operational Metrics - The number of active stores as of June 30, 2023, was 41,076, remaining stable compared to the same period last year[2] - The number of active agents increased by 5.0% year-on-year to 435,813 as of June 30, 2023[2] - Average monthly active users reached 48 million in Q2 2023, up from 43 million in the same period last year[2] Strategic Initiatives - The company upgraded its corporate strategy to "One Body, Three Wings" in July 2023, introducing "Beihome" to enhance new housing supply[4] - The company aims to improve service quality and expand its offerings in the housing sector, including transactions, rentals, and home decoration[4] - The company is committed to maintaining a healthy balance sheet and efficient capital allocation to support growth in the housing services sector[4] - The company aims to enhance its platform capabilities and expand its market presence, focusing on strategic initiatives and potential acquisitions in the upcoming quarters[26] - The company is investing in new product development and technology advancements to drive future growth and improve operational efficiency[26] - The management anticipates continued growth in user engagement and transaction volume on its platform, supported by ongoing marketing efforts and service enhancements[26] Financial Position - As of June 30, 2023, the total cash, cash equivalents, restricted cash, and short-term investments amounted to RMB 60.8 billion (USD 8.4 billion)[15] - The total assets increased to RMB 117,415,189 thousand as of June 30, 2023, up from RMB 109,347,347 thousand as of December 31, 2022, reflecting a growth of about 7.5%[28] - Total liabilities rose to RMB 44,629,190 thousand as of June 30, 2023, compared to RMB 40,292,909 thousand as of December 31, 2022, indicating an increase of approximately 10.5%[28] - The total current liabilities increased to RMB 36,856,790 thousand as of June 30, 2023, from RMB 33,341,318 thousand as of December 31, 2022, marking a rise of about 15.1%[28] - The company reported a total non-current assets increase to RMB 47,242,494 thousand as of June 30, 2023, up from RMB 38,922,672 thousand as of December 31, 2022, which is an increase of approximately 21.4%[28] Shareholder Returns - The company has expanded its share repurchase program from USD 1 billion to USD 2 billion, extending it until August 31, 2024[17] - A special cash dividend of USD 0.057 per ordinary share or USD 0.171 per American depositary share has been approved, totaling approximately USD 200 million[18] Future Outlook - The company expects total net revenue for Q3 2023 to be between RMB 15.5 billion (USD 2.1 billion) and RMB 16 billion (USD 2.2 billion), representing a decline of approximately 9.1% to 11.9% year-over-year[16] Non-GAAP Metrics - The company utilizes non-GAAP financial metrics to assess operational performance, including adjusted operating profit and adjusted net profit[22] - Adjusted operating profit is defined as operating profit excluding stock-based compensation, intangible asset amortization, and impairment of goodwill and other long-term assets[23] - The company emphasizes that non-GAAP metrics should not be viewed in isolation and encourages investors to review financial data comprehensively[23]

Financial Performance - Total transaction value for Q1 2023 reached RMB 971.5 billion (USD 141.5 billion), a year-on-year increase of 65.8%[1] - Net revenue for Q1 2023 was RMB 20.3 billion (USD 3.0 billion), up 61.6% year-on-year[2] - Net profit for Q1 2023 was RMB 2.75 billion (USD 400 million), compared to a net loss of RMB 620 million in the same period of 2022[2] - Adjusted net profit for Q1 2023 was RMB 3.56 billion (USD 519 million), a significant increase from RMB 28 million in Q1 2022[2] - Gross profit surged by 186.1% to RMB 6.3 billion (USD 0.9 billion), with a gross margin of 31.3%, up from 17.7% in the same period last year[8] - Operating profit for Q1 2023 was RMB 2.98 billion (USD 0.43 billion), compared to an operating loss of RMB 918 million in Q1 2022, resulting in an operating margin of 14.7%[9] - Adjusted operating profit reached RMB 3.83 billion (USD 0.56 billion), with an adjusted operating margin of 18.9%, compared to an adjusted operating loss of RMB 450 million in Q1 2022[9] - The company reported a net profit of RMB 2,749,746 thousand in Q1 2023, a significant recovery from a net loss of RMB 619,632 thousand in Q1 2022[26] - The total comprehensive income for the three months ended March 31, 2023, was RMB 2,424,671, compared to a total comprehensive loss of RMB (912,464) for the same period in 2022[27] User and Market Metrics - The number of active stores as of March 31, 2023, was 39,622, a decrease of 7.8% year-on-year[2] - The number of active agents as of March 31, 2023, was 411,526, an increase of 7.8% year-on-year[3] - Average monthly active users for Q1 2023 reached 45.4 million, compared to 39.7 million in Q1 2022[2] - The company reported a significant increase in user data, with a notable rise in active users contributing to the improved financial performance[30] Revenue Breakdown - In Q1 2023, net revenue increased by 61.6% year-over-year to RMB 20.3 billion (USD 3 billion) from RMB 12.5 billion in Q1 2022, driven by a total transaction value increase of 65.8% to RMB 97.15 billion (USD 14.15 billion)[5] - The net revenue from existing home business rose by 49.3% to RMB 9.2 billion (USD 1.3 billion), with total transaction value increasing by 77.6% to RMB 66.43 billion (USD 9.67 billion)[5] - New home business net revenue increased by 42.2% to RMB 8.4 billion (USD 1.2 billion), with total transaction value rising by 44.2% to RMB 27.79 billion (USD 4.05 billion)[6] - Emerging business and other net revenue rose by 222.1% to RMB 1.3 billion (USD 0.2 billion), driven by growth in rental housing management and financial services[6] Cost and Expenses - The total operating costs increased by 34.9% to RMB 13.9 billion (USD 2 billion), primarily due to higher commission costs associated with increased transaction volumes[7] - The company’s operating expenses totaled RMB 3,371,803 thousand in Q1 2023, compared to RMB 3,137,718 thousand in Q1 2022, reflecting a year-over-year increase of 7.5%[26] Cash and Liquidity - The company reported cash, cash equivalents, restricted cash, and short-term investments totaling RMB 66.6 billion (USD 9.7 billion) as of March 31, 2023[11] - Cash and cash equivalents increased from RMB 19,413,202 thousand as of December 31, 2022, to RMB 30,594,718 thousand as of March 31, 2023, a rise of 57.7%[22] - The total cash and cash equivalents at the end of Q1 2023 amounted to RMB 38,454,355, an increase from RMB 23,410,276 at the end of Q1 2022[33] Future Outlook - For Q2 2023, the company expects total net revenue to be between RMB 18.5 billion (USD 2.7 billion) and RMB 19.0 billion (USD 2.8 billion), representing an increase of approximately 34.3% to 37.9% year-over-year[12] - The company is closely monitoring the impact of recent real estate policies and measures on its operations, indicating potential uncertainties ahead[12] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Shareholder Actions - The company initiated a share repurchase program allowing for the purchase of up to USD 1 billion of Class A ordinary shares and/or American Depositary Shares within 12 months[13] - As of March 31, 2023, approximately 16.2 million American Depositary Shares were repurchased under the program for a total consideration of approximately USD 228.6 million[13] Non-GAAP Metrics - The company utilizes non-GAAP financial metrics to assess operational performance, including adjusted operating profit and adjusted net profit, which help identify potential business trends[17] - The adjusted EBITDA for Q1 2023 was not explicitly stated but is a key financial metric that excludes various expenses[11] - The adjusted EBITDA excludes items such as income tax expenses, stock-based compensation, and depreciation of property, plant, and equipment[18] - The company emphasizes that non-GAAP metrics should not be viewed in isolation and encourages investors to review financial data comprehensively[17] Strategic Initiatives - The company aims to enhance service quality and expand its coverage in the residential services market, driven by unmet consumer demands[4] - The company plans to optimize its cost structure to sustain high-quality growth and improve profitability in the long term[4] - The company aims to reshape service operation models to provide more efficient real estate transaction services[19] - The company has established a strong infrastructure and standards that support its rapid and sustainable development[19] Risks and Governance - Forward-looking statements in the announcement may involve risks and uncertainties that could lead to actual results differing significantly from those projected[20] - The company relies on the integrity of its brokerage brands and agents to facilitate transactions on its platform[20] - The announcement was made on May 18, 2023, and the board of directors includes several executive and independent members[21]

Financial Performance - Total transaction value for the year ended December 31, 2022, was RMB 2,609.6 billion, a decrease of 32.3% from RMB 3,853.5 billion in 2021[7] - Net revenue for the year ended December 31, 2022, was RMB 60.7 billion, down 24.9% from RMB 80.8 billion in 2021[7] - Net loss for the year ended December 31, 2022, was RMB 1,397 million, compared to a net loss of RMB 525 million in 2021[7] - The total transaction value for existing homes was RMB 1,576.5 billion, a decrease of 23.4% from RMB 2,058.2 billion in 2021[7] - The total transaction value for new homes was RMB 940.5 billion, down 41.5% from RMB 1,608.6 billion in 2021[7] - The total transaction value for emerging businesses and others was RMB 87.3 billion, a decrease of 53.2% from RMB 186.4 billion in 2021[7] - In 2022, the company's net revenue decreased by 24.9% to RMB 60.7 billion from RMB 80.8 billion in 2021, primarily due to a 32.3% drop in total transaction volume to RMB 260.96 billion[58] - The net revenue from existing home business fell by 24.5% to RMB 24.1 billion, with total transaction volume declining by 23.4% to RMB 157.65 billion[58] - The new home business saw a significant decline, with net revenue dropping 38.3% to RMB 28.7 billion, as total transaction volume decreased by 41.5% to RMB 94.05 billion[58] - The home decoration and furnishing business generated net revenue of RMB 5 billion in 2022, down from RMB 19.7 billion in 2021, mainly due to the acquisition of Shengdu Home Decoration[59] Operational Metrics - The number of stores as of December 31, 2022, was 40,516, a decrease of 20.6% from 51,038 stores as of December 31, 2021[7] - The number of active agents as of December 31, 2022, was 394,020, down 13.3% from 454,504 agents as of December 31, 2021[7] - The average monthly active users for mobile in Q4 2022 was 36.6 million, compared to 37.4 million in the same period of 2021[7] - The platform completed approximately 3.8 million property transactions in 2022, with a total transaction value of RMB 2.6096 trillion[9] - As of December 31, 2022, the platform had over 394,000 active agents and approximately 40,500 active brokerage stores, representing 268 real estate brokerage brands[30] Service Offerings and Infrastructure - The company operates the leading real estate brokerage brand, Lianjia, which has over 21 years of operational experience, contributing to industry infrastructure and standards[9] - The company has established a comprehensive service offering for consumers, including brokerage services for second-hand and new property transactions, signing and transaction services, and home decoration services[12] - The ACN network serves as the foundation of the platform, facilitating collaboration among brokerage brands, stores, and agents, and streamlining the property transaction process[12] - The company aims to enhance its platform infrastructure by digitizing and standardizing key components such as technology, transaction processes, and service quality[10] - The platform provides comprehensive sales and marketing solutions to real estate developers, enhancing their ability to discover and interact with home buyers[13] - The platform's infrastructure supports various vertical services related to property ownership, aiming for a one-stop solution for customer needs[14] Revenue Sources and Business Segments - The company has four main revenue sources: existing home business, new home business, home decoration services, and emerging businesses[13] - Emerging businesses and others reported a 33.4% increase in net revenue to RMB 2.8 billion, driven by growth in rental housing management services[59] Cost Management and Financial Health - Operating costs decreased by 27.8% to RMB 46.9 billion in 2022, attributed to reduced commissions and salaries for agents and sales channels[60] - External commissions for agents and sales channels dropped by 35.2% to RMB 20.5 billion, reflecting a decline in new home transaction volumes[60] - Internal commissions and salaries decreased by 32.1% to RMB 17.9 billion, due to a reduction in the number of frontline operational staff[60] - Store costs fell by 12.2% to RMB 3.3 billion, as the number of chain stores decreased amid market downturns[60] Technology and Innovation - The company continuously innovates and builds various modules to support its platform participants, including SaaS systems for brokers and store managers, AI technology, and virtual reality applications[20] - The company has developed an AI-powered system called "Future Home" that can automatically generate home decoration plans and create interactive floor plans and 3D models within minutes[46] - The company has deployed the "Beike Good House" system, which uses a rating system based on property features and browsing history to recommend high-quality listings to consumers, resulting in higher exposure and faster transaction decisions[45] - The company utilizes advanced machine learning algorithms for intelligent search and prediction, improving the quality of search results and transaction probability forecasts[45] Management and Governance - The board of directors consists of eight members, including four executive directors and three independent non-executive directors[96] - The company has appointed experienced individuals in key management positions, including a CFO and COO, to enhance operational effectiveness[106] - The company has implemented a governance mechanism to encourage compliance with the ACN network and maintain high professional standards among agents[18] Risks and Challenges - The company has faced significant risks related to the macroeconomic environment in China and regulatory constraints affecting the real estate market, particularly in second-hand and new housing transactions[115] - The company is subject to evolving cybersecurity and data privacy laws in China, which could have significant reputational and financial consequences if not managed properly[115] - The company faces significant risks related to contractual arrangements, particularly if the Chinese government deems these agreements non-compliant with regulations, potentially affecting 22.2% of cash and cash equivalents and 9.9% of total assets as of December 31, 2022[153] Shareholder Information - As of December 31, 2022, the company had a total of 3,594,532,591 Class A ordinary shares and 156,122,226 Class B ordinary shares outstanding[122] - Founders Peng Yongdong and Shan Yigang hold 32.75% of the voting power through their Class B shares, despite owning only 7.56% of the total issued share capital[123] - The company’s dual-class share structure allows certain shareholders to exert greater control over corporate decisions, which may not align with the interests of other shareholders[121] Employee and Talent Management - The company employed a total of 98,540 employees as of December 31, 2022, with the majority located in mainland China[94] - The company has invested significantly in employee recruitment to support rapid business growth[95] - The company’s success relies on attracting, motivating, training, and retaining talent[95]

Financial Performance - Total transaction value for the fiscal year 2022 was RMB 2,609.6 billion, a decrease of 32.3% from RMB 3,853.5 billion in 2021[1]. - Net income for the fiscal year 2022 was RMB 60.7 billion, down 24.9% from RMB 80.8 billion in 2021[1]. - Net loss for the fiscal year 2022 was RMB 13.97 billion, compared to a net loss of RMB 5.25 billion in 2021[2]. - In 2022, the company's net income decreased by 24.9% to RMB 60.7 billion from RMB 80.8 billion in 2021, primarily due to a 32.3% drop in total transaction volume from RMB 385.35 billion to RMB 260.96 billion[12]. - The net income from the existing home business fell by 24.5% to RMB 24.1 billion, with total transaction volume decreasing by 23.4% to RMB 157.65 billion[12]. - The new home business saw a significant decline, with net income dropping 38.3% to RMB 28.7 billion and total transaction volume falling 41.5% to RMB 94.05 billion[12]. - Total net revenue for the year ended December 31, 2022, was RMB 60,668,779, a decrease of 24.9% from RMB 80,752,439 in 2021[58]. - The net loss attributable to the shareholders of Beike Holdings Limited for the year ended December 31, 2022, was RMB 1,386,074, compared to a net loss of RMB 524,129 in 2021[59]. - Gross profit for the year ended December 31, 2022, was RMB 13,780,747, down from RMB 15,819,415 in 2021, reflecting a gross margin decrease[58]. - The basic and diluted loss per share for the year ended December 31, 2022, was RMB (0.39), compared to RMB (0.15) in 2021, reflecting increased losses per share[60]. Operational Metrics - The number of stores decreased by 20.6% to 40,516 as of December 31, 2022, from 51,038 a year earlier[2]. - Active agents decreased by 13.3% to 394,020 as of December 31, 2022, from 454,504 in 2021[2]. - Average monthly active users for mobile platforms was 36.6 million in Q4 2022, down from 37.4 million in the same period of 2021[2]. - Operating costs decreased from RMB 64.9 billion in 2021 to RMB 46.9 billion in 2022, a reduction of 27.8%[14]. - Sales and marketing expenses increased to RMB 4.6 billion in 2022 from RMB 4.3 billion in 2021, primarily due to the consolidation of Saint Decor's financial performance[18]. - General and administrative expenses decreased by 17.7% from RMB 8.9 billion in 2021 to RMB 7.3 billion in 2022[18]. - Research and development expenses decreased by 20.3% from RMB 3.2 billion in 2021 to RMB 2.5 billion in 2022[18]. Business Segments - The company has restructured its reporting segments into four divisions: existing home business, new home business, home decoration, and emerging businesses and others, following the acquisition of Shengdu Home Decoration Co., Ltd.[70]. - The home decoration and furnishing business generated RMB 5 billion in net income in 2022, significantly boosted by the acquisition of Shengdu Home Decoration[13]. - The company’s emerging business and other revenue segment generated RMB 2,848,075 for the year ended December 31, 2022, up from RMB 2,134,656 in 2021, showing growth in this area[58]. - The home rental business's "worry-free rental" model managed over 70,000 units by the end of 2022, with a 3.7 percentage point increase in occupancy rate from Q3 to Q4[10]. Cash Flow and Investments - Cash flow from operating activities increased from RMB 3.60 billion in 2021 to RMB 8.46 billion in 2022[26]. - Cash and cash equivalents increased from RMB 56.1 billion at the end of 2021 to RMB 61.1 billion at the end of 2022, primarily due to cash generated from operating activities of RMB 8.5 billion[19]. - The net cash used in investing activities in 2022 was RMB 85 billion, which included RMB 469 billion for purchasing short-term investments and RMB 134 billion for long-term investments[31]. - The company reported a significant increase in interest income, netting RMB 743,484 for the year ended December 31, 2022, compared to RMB 354,567 in 2021[59]. Acquisitions and Goodwill - The company completed the acquisition of Shengdu Home Decoration for a total consideration of RMB 3.92 billion and 44,315,854 restricted Class A ordinary shares, enhancing its service capabilities in the home decoration sector[37]. - Goodwill increased from RMB 18.06 billion as of December 31, 2021, to RMB 49.34 billion as of December 31, 2022, primarily due to goodwill recognized in the acquisition of Shengdu Home Decoration[23]. - The estimated fair value of identifiable intangible assets acquired was RMB 1,049.5 million, with a useful life of 10 years[96]. Compliance and Governance - The company has complied with all applicable principles and code provisions of the Corporate Governance Code since its listing date[47]. - The company has adopted a policy to manage material non-public information and prevent insider trading, confirming compliance with all relevant regulations since its listing date[48]. - The audit committee consists of independent non-executive directors with appropriate professional qualifications[50]. Future Outlook - The company plans to focus on optimizing business operations and balancing efficiency, risk control, and scale expansion in 2023[11]. - The company aims to enhance service quality and continue to drive industry development towards a more dignified service model and better living conditions[11]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[100].