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]
贝壳(02423) - 2023 Q4 - 季度业绩