贝壳找房（NYSE: BEKE）周二盘前股价下跌，此前公司公布了第四季度业绩。 净收入同比增长54.1%至311亿元人民币（42.6亿美元），超出预测的40.1亿美元。 移动月活跃用户（MAU）在该季度平均为4320万，同比基本持平。 总交易值（GTV）达到1.14万亿元人民币（1567亿美元），同比增长55.5%，驱动因素包括所有板块的增长。 现有房产交易的总交易值同比增长59.1%至7448亿元人民币（1020亿美元），而新房交易则同比增长49.3%至3553亿元人民币（487亿美元）。 家居装修及配套业务总交易值同比增长34.7%至53亿元人民币（7亿美元），新兴及其他服务同比飙升50.0%至383亿元人民币（53亿美元）。 毛利润同比增长39.4%至72亿元人民币（10亿美元），毛利率从25.5%降至23.0%，原因是现有房产交易服务的贡献率下降以及新兴及其他服务的贡献率降低。 调整后EBITDA从去年同期的17亿元人民币增长到23.4亿元人民币（3.21亿美元）。 调整后每ADS收益为1.19元人民币。按美元计算，调整后的每股收益为0.16美元，未达预期的0.26美元。 截至2024年12月31日，现金、现金等价物、受限现金及短期投资共计616亿元人民币（84亿美元）。 截至2024年12月31日，门店数量增加至51573家，同比增长17.7%，其中活跃门店增长18.3%至49693家。2024年，公司回购了价值7.16亿美元的股票。 股息：公司披露董事会已批准向普通股股东和ADS股东派发每普通股0.12美元或每ADS 0.36美元的末期现金股息，登记日为2025年4月9日。 贝壳董事会主席兼首席执行官彭永东表示，“我们的贝好家业务通过C2M（客户到制造）模式探索在新房行业推动产品实力并降低风险。” 投资者可以通过Global X PropTech ETF（PTEC）（NASDAQ: PTEC）和Davis Fundamental ETF Trust Davis Select International ETF（DINT）（BATS: DINT）来投资该股票。 股价动向：贝壳找房股价盘前最后一次检查下跌2.27%至24.52美元。 图片来源：Shutterstock。

以上内容来自Benzinga Earnings专栏，原文如下：

KE Holdings Inc (NYSE:BEKE) shares are trading lower premarket on Tuesday after the company reported fourth-quarter results.

Net revenues rose 54.1% year-over-year to 31.1 billion Chinese Yuan ($4.26 billion), beating the consensus of $4.01 billion.

Mobile monthly active users (MAU) averaged 43.2 million in the quarter, relatively flat Y/Y.

Gross transaction value (GTV) reached 1.14 trillion Chinese Yuan ($156.7 billion), up 55.5% year-over-year, driven by growth across all segments.

GTV existing home transactions grew 59.1% Y/Y to 744.8 billion Chinese Yuan ($102.0 billion), while new home transactions increased 49.3% Y/Y to 355.3 billion Chinese Yuan ($48.7 billion).

Home renovation and furnishing GTV rose 34.7% Y/Y to 5.3 billion Chinese Yuan ($0.7 billion), and emerging and other services surged 50.0% Y/Y to 38.3 billion Chinese Yuan ($5.3 billion).

Gross profit increased by 39.4% Y/Y to 7.2 billion Chinese Yuan ($1.0 billion). Gross margin declined to 23.0% from 25.5% due to a reduced contribution margin from existing home transaction services and lower contribution margin from emerging and other services.

Adjusted EBITDA rose to 2.34 billion Chinese Yuan ($321 million) from 1.70 billion Chinese Yuan in the same period last year.

Adjusted earnings per ADS stood at 1.19 Chinese Yuan. In USD, adjusted EPS of $0.16 missed the consensus of $0.26.

As of December 31, 2024, cash, cash equivalents, restricted cash and short-term investments stood at 61.6 billion Chinese Yuan ($8.4 billion).

As of December 31, 2024, the number of stores rose to 51,573, a 17.7% increase Y/Y, with active stores up 18.3% to 49,693. In 2024, the company repurchased shares worth $716 million.

Dividend: The company disclosed that its board of directors has approved a final cash dividend of $0.12 per ordinary share, or $0.36 per ADS, to holders of ordinary shares and holders of ADSs of record as of April 9, 2025.

Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, said, ”Our Beihaojia business explored driving product strength and reduce risks in the new home industry through the C2M (customer to manufacturing) model.”

Investors can gain exposure to the stock via Global X PropTech ETF (NASDAQ:PTEC) and Davis Fundamental ETF Trust Davis Select International ETF (BATS:DINT).

Price Action: BEKE shares are down 2.27% at $24.52 premarket at the last check Tuesday.

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