KE Holdings or Beike (NYSE:BEKE), China’s leading real estate platform, saw 65.4% YoY growth in the total gross transaction value (GTV) to RMB1,120.0 billion (US$171.6 billion), according to its official press release.
- GTV of existing home transactions was RMB584.7 billion (US$89.6 billion), an increase of 69.8% year-over-year.
- GTV of new home transactions was RMB469.2 billion (US$71.9 billion), an increase of 55.5% year-over-year.
- GTV of emerging and other services was RMB66.1 billion (US$10.1 billion), an increase of 113.2% year-over-year.
Beike’s net revenues were RMB22.7 billion (US$3.5 billion), an increase of 57.6% year-over-year. And, its net income was RMB1,096 million (US$168 million). Adjusted net income was RMB2,001 million (US$307 million), an increase of 4,424.8% year-over-year.
The number of stores was 46,946 as of December 31, 2020, a 25.1% increase from one year ago. The number of agents was 493,088 as of December 31, 2020, a 37.9% increase from one year ago.
Mobile monthly active users (MAU) on Beike platform averaged 48.2 million, an increase of 88.3% year-over-year.
BEKE Performance Highlights for Year 2020
GTV was RMB3,499.1 billion (US$536.3 billion), an increase of 64.5% year-over-year. GTV of existing home transactions was RMB1,940.0 billion (US$297.3 billion), an increase of 49.5% year-over-year.
GTV of new home transactions was RMB1,383.0 billion (US$211.9 billion), an increase of 85.0% year-over-year. GTV of emerging and other services was RMB176.1 billion (US$27.0 billion), an increase of 113.0% year-over-year.
Net revenues were RMB70.5 billion (US$10.8 billion), an increase of 53.2% year-over-year.
Net income was RMB2,778 million (US$426 million). The adjusted net income was RMB5,720 million (US$877 million), an increase of 245.4% year-over-year.
Over 30% of stores on Beike platform had an annual GTV of RMB50 million or more in 2020, compared with 19% in 2019.
For the first quarter of 2021, Beike expects total net revenues to be between RMB18.5 billion (US$2.8 billion) and RMB19.5 billion (US$3.0 billion), representing an increase of approximately 159.8% to 173.9% from the same quarter of 2020.