Core Insights - eXp Realty has launched a new initiative called CRM of Choice, allowing agents to select their preferred customer relationship management platform, emphasizing agent autonomy and innovation [2][3][4] Company Overview - eXp Realty is the largest independent real estate brokerage globally, with over 81,000 agents across 27 countries, and operates as a cloud-based, agent-centric brokerage [6] - The company is a subsidiary of eXp World Holdings, Inc., which also includes SUCCESS® Enterprises [6] CRM of Choice Details - Agents can choose from three CRM platforms: BoldTrail, Cloze, and Lofty, all included in the standard monthly fee [3][7] - BoldTrail is designed for top producers and solo agents, offering AI-driven automation and intelligent lead scoring [7] - Cloze focuses on referral-based agents, providing a mobile-first experience that prioritizes relationship depth [7] - Lofty is tailored for lead-focused teams, featuring advanced lead routing and SEO-optimized websites [7] Agent Engagement - The CRM of Choice initiative has already seen significant interest, with thousands of agents opting in prior to the official launch [5]

Many would say NASA needs to be going for the moon shots to use a better pun, but they should be going for extraordinary exploration. They perhaps shouldn't be funding well testing of, well, certain private companies engines. They shouldn't be actually beefing up in terms of manages.They'd be stripping layers. But is this going to the moon shots to. Well, I think that's kind of the question of of the moment right now.There's this fundamental tension of what an asset is supposed to be. You know, for years, f ...

Core Viewpoint - The "Nansha Financial 30 Measures" aims to enhance Nansha's role as a financial innovation hub and an international financial node within the Guangdong-Hong Kong-Macao Greater Bay Area, providing a comprehensive framework for financial support and development [2][3]. Group 1: Financial Support and Development - The "Nansha Financial 30 Measures" outlines specific financial initiatives across seven dimensions to empower Nansha's development and openness, including enhancing financial services for innovation and entrepreneurship, and supporting high-quality urban development [3]. - The measures include promoting cross-border financial innovation, improving financial regulatory mechanisms, and facilitating the integration of financial markets within the Greater Bay Area [3][4]. Group 2: Focus on Technology and Industry - The measures emphasize the importance of supporting technology-driven industries, including artificial intelligence, life sciences, integrated circuits, and aerospace, aligning financial services with the construction of technology innovation industrial cooperation bases [4][5]. - Specific initiatives include enhancing diversified intellectual property financial services and exploring new business models such as "loans + external direct investment" to support tech enterprises [4]. Group 3: Marine Economy and Insurance - Nansha is accelerating the development of its marine economy, with the "Nansha Financial 30 Measures" proposing increased support for marine industries, commercial aerospace, and unmanned industries [5]. - The measures advocate for the development of marine insurance services, which encompass various sectors such as shipping, offshore wind, and marine ranching, to bolster the growth of emerging marine industries [5]. Group 4: Asset Management and Investment Advisory - The measures call for the establishment of a cross-border asset management center in Nansha, promoting the development of public fund investment advisory services [6]. - This initiative aligns with existing policy advantages in Nansha, such as tax incentives and high-level openness for cross-border trade and investment, aimed at attracting asset management institutions from Hong Kong and Guangdong [6].

Financial Data and Key Metrics Changes - In Q4 2024, total sales volume reached 226,600 units, a significant 65% year-over-year growth, with total revenue of RMB819 million, reflecting a 71% increase compared to the same period last year [7][8][51]. - For the full year 2024, total sales volume was 924,000 units, representing a 30% year-over-year increase, and total revenue reached RMB3.29 billion, up 24% from 2023 [8][51]. Business Line Data and Key Metrics Changes - In Q4 2024, sales volume in China was 182,000 units, a 65% year-over-year increase, while overseas sales volume reached 44,000 units, marking a 64% growth [7][50]. - The N series accounted for 39% of total sales volume in China, a substantial increase from just 5% in 2023, demonstrating strong market demand [15]. - The ASP for China e-scooters reached RMB3,544, a 15% increase quarter-over-quarter and a 10% increase year-over-year [52]. Market Data and Key Metrics Changes - The overseas market saw a 54% growth in sales volume in Q4 2024 and a 52% growth for the full year [33]. - The overseas branded scooter ASP decreased to nearly RMB2,000, down around 10% year-over-year, primarily due to a higher sales contribution from kick-scooters [52]. Company Strategy and Development Direction - The company remains focused on expanding product offerings, strengthening sales channels, and broadening market reach, with a commitment to refining its strategy to achieve ambitious targets [9][23]. - In 2024, the company opened approximately 900 new stores, with plans to open another 1,000 to 1,500 stores in 2025 to strengthen market presence [26][27]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the China market and overseas market, highlighting strong foundations established in 2024 and expectations for continued growth in 2025 [39][44]. - The company anticipates a positive effect on ASP and gross margin in the domestic market in 2025, driven by increased sales volume and economies of scale [73]. Other Important Information - The gross margin for Q4 2024 was 12.4%, a decrease of 6.6 percentage points compared to the same period last year, primarily due to shifts in the overseas product mix and US tariffs [56]. - The company ended the year with RMB1.1 billion in cash and short-term investments, with operating cash flow showing an inflow of RMB55 million [62]. Q&A Session Summary Question: What is your sales target for kick-scooters in 2025? - The company expects a sales target of approximately 30% to 50% growth for kick-scooters in 2025, following a previous year of over 160,000 units sold [66][67]. Question: What is your outlook for average selling price and gross profit margin in the domestic market in 2025? - The company anticipates a slight increase in ASP in the domestic market, with expectations for improved gross margin due to economies of scale and increased sales volume [70][73]. Question: Can you provide guidance on expected net profit margin by 2025? - The company is not ready to share specific net profit margin guidance but expects to achieve overall profitability in 2025 [80][81]. Question: Which quarter in 2025 is expected to see the company's net profit turn from loss to profit? - The company expects to see quarterly profits in the second quarter of 2025, which is typically a peak quarter for revenue [84].