Financial Performance - Total transaction value for the fiscal year ended December 31, 2023, reached RMB 3,142.9 billion, a 20.4% increase from RMB 2,609.6 billion in 2022[1] - Net income for the fiscal year ended December 31, 2023, was RMB 77.8 billion, up 28.2% from RMB 60.7 billion in 2022[2] - Adjusted net profit for the fiscal year ended December 31, 2023, was RMB 9.798 billion, compared to RMB 2.843 billion in 2022[2] - Total net revenue for the year ended December 31, 2023, reached RMB 77,776,932, an increase of 28.2% from RMB 60,668,779 in 2022[62] - The operating profit for the year was RMB 4,797,070, compared to an operating loss of RMB 832,906 in the previous year[63] - Net profit attributable to shareholders of Beike Holdings Limited was RMB 5,883,224, a significant recovery from a net loss of RMB 1,386,074 in 2022[63] - The gross profit margin improved to 27.9%, up from 22.7% in the previous year, reflecting better cost management[62] - The company reported a significant increase in adjusted EBITDA to RMB 11,344,671 for 2023, up from RMB 4,743,635 in 2022, representing a growth of approximately 139%[65] Business Growth - The number of active stores as of December 31, 2023, was 42,021, an increase of 12.2% from 37,446 stores as of December 31, 2022[2] - The number of active agents as of December 31, 2023, was 397,135, reflecting a 13.6% increase from 349,681 agents as of December 31, 2022[2] - The total transaction value for existing homes was RMB 2,028 billion, a 28.6% increase from RMB 1,576.5 billion in 2022[1] - The total transaction value for home decoration and furnishings was RMB 13.3 billion, a significant increase of 145.8% from RMB 5.4 billion in 2022[1] - The company's new home business net income rose by 6.7% to RMB 30.6 billion, with total transaction volume also increasing by 6.7% to RMB 100.3 billion in 2023[14] - The home decoration and home furnishing business saw a total transaction volume growth of 146% year-on-year, with a comparable growth of 93%[7] Operational Efficiency - The company has implemented a store grading mechanism to optimize its platform ecosystem and improve operational efficiency[4] - The company has established a governance mechanism for risk control, integrating online and offline monitoring to enhance agent operations[5] - The company aims to focus on efficiency and quality in 2024, exploring innovative models and technology to enhance market penetration[9] Cash Flow and Investments - Cash generated from operating activities increased to RMB 11.16 billion in 2023 from RMB 8.46 billion in 2022[32] - The net cash generated from operating activities in 2023 was RMB 11.2 billion, compared to RMB 8.461 billion in 2022, reflecting an increase of approximately 32.6%[34] - The net cash used in investing activities in 2023 was RMB 4 billion, primarily due to the purchase of other short-term investments totaling RMB 38.9 billion[36] - The company plans to use cash reserves to meet significant cash needs, including capital expenditures and contractual obligations[39] Shareholder Returns - The company implemented a share repurchase plan costing approximately USD 719 million, repurchasing over 46.7 million American Depositary Shares, representing 3.70% of the total shares before the plan[10] - The board has approved a final cash dividend of $0.117 per ordinary share and $0.351 per American depositary share, totaling approximately $400 million to be paid from the company's retained earnings[56] - The company declared a special cash dividend of $0.057 per ordinary share, totaling $198.5 million paid in 2023[91] Risk Management - The company faces a foreign exchange risk due to a 2.9% depreciation of the RMB against the USD during the fiscal year[44] - The company has RMB 3.6 billion in short-term investment products, facing potential interest rate risk[46] Employee and Governance - The company has 116,344 employees, with the majority (91,256) in brokerage and support roles[47] - The company has maintained compliance with corporate governance codes and has not deviated from the principles and provisions applicable during the reporting period[51] - The audit committee has reviewed the unaudited annual results for the year ending December 31, 2023, and discussed accounting policies and internal controls with management and external auditors[55] Future Outlook - The company aims to continue sustainable business development to create more value for shareholders[58] - The company plans to continue expanding its market presence and investing in new technologies to enhance service offerings[63] - The company may require additional cash resources in the future for investments, acquisitions, or capital expenditures if business conditions change[33]

BEIJING, March 14, 2024 (GLOBE NEWSWIRE) -- KE Holdings Inc. ("Beike" or the "Company") (NYSE:BEKE), a leading integrated online and offline platform for housing transactions and services, today announced that its board of directors (the "Board") approved a final cash dividend (the "Dividend") of US$0.117 per ordinary share, or US$0.351 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 5, 2024, Beijing/Hong Kong Time and New York Time, respectively, pa ...

BEIJING, March 14, 2024 (GLOBE NEWSWIRE) -- KE Holdings Inc. ("Beike" or the "Company") (NYSE:BEKE), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023 and a final cash dividend. Business and Financial Highlights for the Fourth Quarter and Fiscal Year 2023 Gross transaction value (GTV)1 in 2023 was RMB3,142.9 billion (US$442.7 billion), an increase of 20.4% year ...

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 ...

BEIJING, March 04, 2024 (GLOBE NEWSWIRE) -- KE Holdings Inc. ("Beike" or the "Company") (NYSE:BEKE, HKEX: 2423))), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year 2023 before the U.S. market opens on Thursday, March 14, 2024. The Company's management will hold an earnings conference call at 8:00 A.M. Eastern Time on Thursday, March 14, 2024 (8:00 P.M. Beijing Tim ...

BEIJING, March 4, 2024 /PRNewswire/ -- KE Holdings Inc. ("Beike" or the "Company") (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, had its ESG rating upgraded by MSCI from BB to BBB, representing strong recognition for the Company's management and business practices in the ESG domain in recent years. The ESG rating upgrade by MSCI indicate that Beike has exceeded industry standards in Human Capital Development, as well as Privacy & Data Se ...

Core Insights - The real estate market in Foshan has seen a series of policy relaxations aimed at stimulating housing demand, leading to a stabilization in 2023 after a decline in transactions from 2021 to 2022 [1][2] - Despite initial recovery, Foshan's housing market faced a downturn during the 2024 Spring Festival, with significant drops in new residential sales compared to the previous year [1][2] Policy Impact - Foshan implemented over ten policies from 2022 to 2023, including lifting purchase restrictions and increasing public housing loan limits, which contributed to a halt in the decline of housing transactions [1] - The early release of policy benefits in Foshan led to a "siphoning effect," where buyers shifted to nearby cities like Shenzhen and Guangzhou, which also introduced competitive policies [2] Market Performance - In 2023, Foshan's total housing transactions remained stable at 113,413 units, with a notable 32.9% increase in second-hand housing transactions [1] - However, during the 2024 Spring Festival, Foshan's new residential sales dropped by 46.37%, ranking third in decline among ten major cities [2] Future Outlook - Analysts predict a potential recovery in Foshan's housing market by March 2024, driven by the cumulative effects of new policies and increased consumer interest [4] - The recent reduction in mortgage rates and the introduction of new public housing loan policies are expected to further stimulate demand [4][5] Market Trends - There is a growing trend towards larger residential units in Foshan, with an increase in the proportion of units over 120 square meters, indicating a shift towards improvement-oriented housing demand [3] - Despite overall market challenges, high-end residential products are experiencing strong sales, suggesting a divergence in market performance based on property type [2][3]

KE Holdings Inc. (NYSE:BEKE) Q3 2023 Earnings Conference Call November 8, 2023 7:00 AM ET Company Participants Siting Li – IR Director Stanley Peng – Co-Founder, Chairman and Chief Executive Officer Tao Xu – Executive Director and Chief Financial Officer Conference Call Participants Timothy Zhao – Goldman Sachs John Lam – UBS Miranda Zhuang – Bank of America Securities Xiaodan Zhang – CICC Operator Ladies and gentlemen, thank you for standing by for KE Holdings Inc.’s Third Quarter 2023 Earnings Conference ...

Financial Performance - Gross transaction value (GTV) was RMB 655.2 billion (US$ 89.8 billion), a decrease of 11.1% year-over-year[2] - Net revenues increased by 1.2% year-over-year to RMB 17.8 billion (US$ 2.4 billion)[10] - Net income rose by 63.4% year-over-year to RMB 1,170 million (US$ 160 million), while adjusted net income grew by 14.4% to RMB 2,159 million (US$ 296 million)[8] - Total net revenues for the three months ended September 30, 2023, were RMB 17,596,582, a slight decrease of 1.2% compared to RMB 17,810,705 for the same period in 2022[59] - Total net revenues for the nine months ended September 30, 2023, reached RMB 57,572,706, an increase of 31.0% from RMB 43,921,639 in the same period of 2022[59] - The company reported a total comprehensive income of RMB 2,210,883 for the three months ended September 30, 2023, compared to RMB 940,073 in the prior year, representing an increase of 134.0%[61] User and Agent Metrics - Number of active agents increased by 7.1% year-over-year to 399,048 as of September 30, 2023[7] - Mobile monthly active users (MAU) averaged 49.2 million in Q3 2023, up from 42.4 million in Q3 2022[7] Revenue Breakdown - Net revenues from home renovation and furnishing surged by 72.1% year-over-year to RMB 3.2 billion (US$ 0.4 billion)[15] - Existing home transaction services generated RMB 7,156,681 in revenue, while new home transaction services contributed RMB 7,792,812, reflecting increases of 13.4% and 32.4% respectively year-over-year[59] - Home renovation and furnishing net revenues increased to RMB 3,176,739 in Q3 2023, a significant rise of 72.3% compared to RMB 1,845,900 in Q3 2022[70] - Emerging and other services net revenues surged to RMB 2,424,915 in Q3 2023, an increase of 202.5% from RMB 801,189 in Q3 2022[70] Expenses and Costs - Total operating expenses increased by 12.0% to RMB 4.0 billion (US$ 0.5 billion) in Q3 2023 from RMB 3.5 billion in Q3 2022[23] - Sales and marketing expenses rose by 29.6% to RMB 1,631 million (US$ 223 million) in Q3 2023, driven by increased spending on home renovation and furnishing[23] - Total cost of revenues was RMB 12.9 billion (US$ 1.8 billion), slightly up from RMB 12.8 billion in Q3 2022[18] Profitability Metrics - Income from operations was RMB 911 million (US$ 125 million) in Q3 2023, down from RMB 1,216 million in Q3 2022, with an operating margin of 5.1% compared to 6.9% in the prior year[25] - Adjusted income from operations decreased to RMB 1,886 million (US$ 259 million) in Q3 2023 from RMB 2,108 million in Q3 2022, with an adjusted operating margin of 10.6%[26] - Net income was RMB 1,170 million (US$ 160 million) in Q3 2023, an increase from RMB 716 million in Q3 2022[27] Cash and Investments - As of September 30, 2023, the company had a combined cash balance of RMB 60.4 billion (US$ 8.3 billion)[32] - Cash and cash equivalents decreased to RMB 15,838,754 from RMB 19,413,202, a decline of about 18.5%[53] - The company reported a net cash used in investing activities of RMB (15,323,257) for the three months ended September 30, 2023, compared to RMB 3,850,877 in the same period of 2022, indicating a significant increase in cash outflow[69] Shareholder Information - The share repurchase program allows the company to buy up to US$ 2 billion of its Class A ordinary shares and/or ADSs until August 31, 2024, with approximately 49.5 million ADSs purchased for about US$ 736.5 million since its launch[37] - The total number of ordinary shareholders increased from 1,894,996 in September 2022 to 1,107,293 in September 2023[66] Future Outlook - For Q4 2023, the company expects total net revenues to be between RMB 18.0 billion (US$ 2.47 billion) and RMB 18.5 billion (US$ 2.54 billion), representing a growth of approximately 7.5% to 10.5% year-over-year[33] - The company aims to enhance capital allocation efficiency and prioritize investments in key value areas for sustainable growth[8] - The company aims to expand its market presence and enhance its service offerings through new product development and strategic partnerships in the upcoming quarters[59]