KE Holdings’ Net Revenue in 2021 Increases 14.6% YoY After Strategic Upgrade
KE Holdings, an integrated online and offline platform for housing transactions and services based in China, on Wednesday announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021.
Gross transaction value (GTV) in 2021 was 3.85 trillion yuan ($604.7 billion), an increase of 10.1% year-on-year. In the fourth quarter of 2021, the firm’s GTV was 732.4 billion yuan, a decrease of 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 just the fourth quarter was 17.8 billion yuan, a decrease of 21.5% year-on-year.
Net losses in 2021 were 525 million yuan, while the adjusted net income in 2021 was 2.29 billion yuan. In the fourth quarter of 2021, net losses were 933 million yuan, while the adjusted net income was 42 million yuan.
The company’s total number of stores was 51,038 as of December 31, 2021, an 8.7% increase from one year ago. The number of active stores was 45,339 as of December 31, 2021, a 4.4% increase from one year ago. Additionally, the number of active agents on the platform was 406,794 as of December 31, 2021, an 8.7% decrease from one year ago. Mobile monthly active users (MAU) averaged 37.4 million, compared to 48.2 million in the same period of 2020.
Stanley Peng, Chairman of the Board and Chief Executive Officer of HE Holdings, commented, “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 inclusive housing services.”
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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, representing a decrease of approximately 39.6% to 44.4% from the same quarter of 2021.
