Net revenue

KE Holdings’ 2021 Net Revenue Increases 14.6% YoY After Strategic Upgrade

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KE Holdings, a China-based integrated online and offline platform for housing transactions and services, announced its unaudited financial results for the fourth quarter and fiscal year ended Dec. 31, 2021 on Wednesday.

Gross transaction value (GTV) in 2021 was 3.85 trillion yuan ($604.7 billion), a year-on-year increase of 10.1%. In the fourth quarter of 2021, the company’s GTV was 732.4 billion yuan, down 34.6% year-on-year.

Net revenue in 2021 was 80.8 billion yuan, an increase of 14.6% year-on-year, while net revenue in the fourth quarter alone was 17.8 billion yuan, a decrease of 21.5% year-on-year.

Net losses in 2021 were 525 million yuan, while adjusted net profit in 2021 was 2.29 billion yuan. In the fourth quarter of 2021, net losses were 933 million yuan, while adjusted net profit was 42 million yuan.

The company’s total number of stores was 51,038 as of December 31, 2021, an increase of 8.7% from a year ago. The number of active stores was 45,339 as of December 31, 2021, an increase of 4.4% compared to a year ago. Additionally, the number of active agents on the platform was 406,794 as of December 31, 2021, down 8.7% from a year ago. Mobile monthly active users (MAUs) averaged 37.4 million, up from 48.2 million in the same period of 2020.

Stanley Peng, Chairman and Chief Executive Officer of HE Holdings, said, “At the end of 2021, we officially launched the ‘one body, two wings’ strategic upgrade. “One body” refers to our core, which is our existing and new home transaction services business, while “two wings” refers to our home renovation and furnishing offerings, and our housing services inclusive. »

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For the first quarter of 2022, the company expects total net revenue to be between 11.5 billion yuan and 12.5 billion yuan, down about 39.6% to 44 .4% compared to the same quarter of 2021.