On August 13th, as of 14:50, the stock price of Beike (2423. HK) rose 7.81% to HKD 38.65 per share.
Shell market value exceeds HKD 140 billion (equivalent to over HKD 130 billion)
Real estate agents with a market value of 130 billion yuan, entering the market against the trend to acquire land! What signal?
It is worth noting that this year, despite the general slowdown in land acquisition by real estate companies, Beike has entered the market against the trend to acquire land. It is reported that Beike participated in the Beijing land auction in March and the Guangzhou land auction in June this year, and on July 30th, it won two residential plots in Xi'an at a bottom price of 133.8 million yuan.
Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, replied to the reporter of Nancai Express that Beike's performance in the first half of the year was relatively ideal. At present, the real estate market is under great pressure, and being able to deliver such a report card has a good guiding role. In fact, policies such as "exchanging old for new" housing require high resource integration capabilities, and Beike has shown good performance in this regard.
Adjusted net profit for the first half of the year decreased by 31% year-on-year
Although the stock price has risen, the first half performance data released by Beike on the 13th showed a downward trend. In the first half of the year, Beike's net revenue was approximately 39.7 billion yuan, a year-on-year decrease of 0.25%; The adjusted net profit was approximately 4.086 billion yuan, a year-on-year decrease of 31.04%.
In the first half of the year, the total transaction volume of shells was about 1.4689 trillion yuan, a year-on-year decrease of 16.2%. Among them, the transaction volume of existing houses decreased by 8.7% year-on-year; The transaction volume of new houses decreased by 32.4% year-on-year; The transaction volume of home decoration furniture increased by 24% year-on-year.
On a quarterly basis, the performance in the second quarter has rebounded compared to the first quarter
The net revenue for the first quarter was approximately 16.3 billion yuan, a year-on-year decrease of 19.2%; The adjusted net profit was approximately 1.392 billion yuan, a year-on-year decrease of approximately 61.0%.
The net income for the second quarter was approximately 23.4 billion yuan, an increase of 19.9% year-on-year; The adjusted net profit was approximately 2.694 billion yuan, a year-on-year increase of approximately 13.9%.
Beike announces extension of existing share repurchase plan
It is worth noting that Beike plans to further expand and extend its existing share repurchase plan, increasing the repurchase authorization from $2 billion to $3 billion and extending the repurchase plan period to August 31, 2025. As of August 12th, Beike has spent a total of approximately $480 million to repurchase shares, accounting for approximately 2.75% of the total issued share capital at the end of 2023.
(Disclaimer: The content of this article is for reference only and does not constitute investment advice. Investors operate based on this and bear the risks themselves.)