KE Holdings Inc. Sponsored ADR Class A ( (BEKE) ) has released its Q4 earnings. Here is a breakdown of the information KE Holdings Inc. Sponsored ADR Class A presented to its investors.
KE Holdings Inc., also known as Beike, is a prominent integrated online and offline platform for housing transactions and services in China, encompassing existing and new home sales, home rentals, and home renovation and furnishing services. The company operates the well-known real estate brokerage brand Lianjia, which has been a significant part of its Beike platform since 2001.
In its latest earnings report for the fourth quarter and fiscal year 2024, KE Holdings Inc. announced a notable increase in gross transaction value (GTV) and net revenues, despite a decline in net income. The company reported a GTV of RMB3,349.4 billion for 2024, marking a 6.6% year-over-year increase, while net revenues rose by 20.2% to RMB93.5 billion. However, net income saw a decrease of 30.8% year-over-year, amounting to RMB4,078 million.
Key financial metrics highlighted in the report include a significant growth in the GTV of existing home transactions by 10.8% and a rise in home renovation and furnishing services by 27.3%. The number of active stores and agents also saw substantial increases, indicating a robust expansion in the company’s operational capacity. Despite the overall growth, the GTV of new home transactions experienced a slight decline of 3.3% year-over-year.
Looking ahead, KE Holdings Inc. remains committed to its strategic direction of becoming more technology-driven and human-centric. The company plans to leverage AI-powered technology to enhance customer insights and service efficiency, aiming to redefine the residential services industry. Management expresses confidence in the integration of technology and human touch as a catalyst for improved consumer experience and business growth.
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