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]
贝壳(02423) - 2023 - 年度业绩