Core Insights - The company reported a total transaction volume of RMB 843.7 billion (USD 116.3 billion) for Q1 2025, representing a year-on-year increase of 34.0% [1] - Net income reached RMB 23.3 billion (USD 3.2 billion), up 42.4% year-on-year, while net profit was RMB 0.855 billion (USD 0.118 billion), showing a significant increase of 97.9% [1][3] - The company continues to expand its store and agent network, with active stores increasing by 29.6% to 55,200 and active agents rising by 23.0% to 490,900 as of March 31, 2025 [1][2] Financial Performance - The total transaction volume for existing homes was RMB 580.3 billion (USD 80 billion), a 28.1% increase year-on-year, while new home transactions totaled RMB 232.2 billion (USD 32 billion), up 53.0% [1] - The net income from existing home services was RMB 6.9 billion (USD 0.96 billion), a 20.0% increase, and new home services net income reached RMB 8.1 billion (USD 1.1 billion), up 64.2% [3] - Non-real estate services net income grew by 46.2%, accounting for 35.9% of total net income, with rental services net income hitting a record high of RMB 5.1 billion (USD 0.7 billion), up 93.8% [3] Operational Highlights - The company had 56,800 stores and 550,300 agents as of March 31, 2025, reflecting a robust growth strategy [1][2] - Monthly active users averaged 44.5 million in Q1 2025, down from 47.7 million in the same period of 2024 [1] - The company is focusing on AI applications to enhance customer experience and operational efficiency, with ongoing investments in technology [2][3] Strategic Outlook - The company expresses confidence in its long-term development under the "One Body, Three Wings" strategy, emphasizing continued investment in AI applications while being cautious about other types of investments [2] - The company plans to maintain a strong cash reserve and has repurchased shares worth approximately USD 139 million, representing about 0.6% of the total shares outstanding as of the end of 2024 [3]
贝壳-W(02423)发布第一季度业绩，总交易额同比增长34.0% 净收入同比增长42.4%