Chinese Property Trading Platform Beike Successfully Dual-Listed in Hong Kong

KE Holdings Inc., a Chinese property trading platform also known as “Beike,” announced yesterday that the company’s Class A ordinary shares have been listed on the Main Board of the Stock Exchange of Hong Kong Limited (the SEHK) under the stock code “2423.” This homecoming dual-listing marks the beginning of the company’s new journey to serve for a better living.

“As we embark on a new journey with our successful listing on the Main Board of SEHK, I would like to express my gratitude for the support of all our customers, service providers, partners and shareholders who have believed in us,” commented Mr. Peng Yongdong, Chairman and Chief Executive Officer of Beike. “We have been part of the biggest changes in the housing related industry—technology fundamentally reshaping the customer experience and the value of service providers becoming increasingly prominent. As the leading integrated online and offline platform for housing transactions and services, upholding our mission of ‘admirable service, joyful living,’ Beike is well positioned to meet the evolving needs of ‘joyful living’ and helps hundreds of millions of Chinese families live better.”

(Source: Beike)

Beike is the leading integrated online and offline platform for housing transactions and services. The company is a pioneer in building infrastructure and standards to reinvent how service providers and housing customers efficiently navigate and complete housing transactions in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, as well as other services. In 2021, the company facilitated over 4.5 million housing transactions on its platform with an aggregate GTV of 3,853.5 billion yuan, making it the largest housing transactions and services platform in China and a top three commerce platform across all industries globally, both in terms of housing related GTV, according to an independent industry report issued by China Insights Industry Consultancy Limited.

In late 2021, the company announced the strategic upgrade of “One Body, Two Wings,” with “One Body” being the existing and new home transaction services business and “Two Wings” being the home renovation and furnishing offerings, and inclusive housing services, respectively. Meanwhile, leveraged on the the company’s integrated online and offline operations, and the Agent Cooperation Network as the infrastructure underlying its operating system, the company has successfully expanded horizontally from housing transactions and services to home renovation, refurnishing and other home services fields, laying a solid foundation for its strategic diversification and future development.

SEE ALSO: KE Holdings’ Net Revenue in 2021 Increases 14.6% YoY After Strategic Upgrade

Financially, the data in the listing document shows that the aggregate GTV of Beike’s platform in 2021 was 3.85 trillion yuan, representing a year-over-year growth rate of 10.1%. The net revenues were 80.75 billion yuan, representing a year-on-year growth rate of 14.6%. Finally, adjusted net income (non-GAAP measure) was 1.01 billion yuan, demonstrating the company’s remarkable market competitiveness.

Looking ahead, with its successful homecoming listing on the Main Board of the SEHK, the company will embark on a new journey. Taking this listing as an opportunity, the company will further promote its business development, strive for outstanding performance and give back to society and the public.