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]
贝壳(02423) - 2023 Q2 - 季度业绩