BEKE - KE Holdings plummets 22% after Q4 earnings gross margin takes a dip

KE Holdings (BEKE -22.5%) Q4 shows net revenues increase of 14.6% Y/Y to  RMB80.8B. Number of stores was 51,038 as of December 31, 2021, a 8.7% increase from one year ago. Number of active stores was 45,339 as of December 31, 2021, a 4.4% increase from one year ago. Net loss in 2021 was RMB525M. Mobile monthly active users averaged 37.4M compared to 48.2M last year. Gross profit was RMB2.9B in Q4, compared to RMB5.4B in the same period of 2020. Gross margin was 16.4% vs. 23.9% prior. As of December 31, 2021, the combined balance of the company’s cash, cash equivalents, restricted cash and short-term investments amounted to RMB56.1B Business Outlook: Q1 2022 Company expects total net revenues to be between RMB11.5B and RMB12.5B, representing a decrease of approximately 39.6% to 44.4% from the same quarter of 2021.  Previously (March 9): KE Holdings GAAP EPS of $0.95 beats by $1.01, revenue of $80.75B beats

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KE Holdings plummets 22% after Q4 earnings, gross margin takes a dip