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Original title: The benefits of digitization and platform show that Shell’s first year of trading has profitably increased
Figures show that Shell’s operating income in the fourth quarter of 2020 was RMB 22.7 billion, a year-on-year increase of 57.6%; The annual operating income was 70.5 billion RMB, a year-on-year increase of 53.2%. Net profit in the fourth quarter reached 1.096 billion yuan and adjusted net profit reached 2.010 billion yuan; Net profit for the year reached 2.778 billion yuan, which was the first time the company made a profit for the whole year according to the US Accounting Standards.
Among them, fourth-quarter and full-year earnings and revenue data beat previous market expectations.
Peng Yongdong, Shell Co-Founder and CEO, said: “Massive scale, efficient operation and high-quality services, combined with strong network effects, have formed a positive cycle, driving 64.5% year-on-year growth in GTV at RMB 3.5 trillion. “
Shell CFO Xu Tao said: “By the end of 2020, the proportion of stores with an annual GTV greater than RMB 50 million in food and clothing lines has exceeded 30%, compared with 19% in 2019. Since the establishment of Shell two years ago, GTV has increased 3.0 times and revenues have increased to 2.5. Adjusted net profit increased to 43.7 times. As we continue to develop the ACN network, expand the user base and innovate artificial intelligence technology, we are confident of achieving sustainable growth. “
The top three sectors are growing rapidly
As one of the largest residential service platforms in China, as of December 31, 2020, Shell Platform has connected more than 490,000 corridors, an increase of 37.9% year-on-year; the number of brokerage shops connected surpassed 46,900, a year-over-year increase of 25.1%. The continued expansion of online and offline networks, superimposed on ACN’s network effect and the platform effect of the people store model, has driven the rapid growth of several business segments.
The financial report shows that the GTV of ordinary housing business in 2020 was RMB 1.94 trillion, a year-on-year increase of 49.5%; common housing annual operating income was RMB 30.6 billion, an increase year-on-year. 24.4%.
In 2020, the GTV of Shell’s new home business was 1.38 trillion yuan, an increase of 85% year-on-year; Annual operating income increased 87.1% year-on-year to RMB 37.9 billion. Among them, the GTV of new home transactions contributed by Lianjia increased 37.2% year-on-year to 276.7 billion yuan (approximately US $ 42.4 billion), and the GTV of new home transactions made through connected stores not belonging to Lianjia and other sales channels. increased by 102.7% year-on-year to RMB 1.11 trillion (approximately US $ 42.4 billion). $ 169.5 billion).
When stock housing and new housing areas have achieved unexpected growth, Shell is also launching a comprehensive exploration of new housing areas. The financial report shows that in 2020, the shell decoration and other emerging business revenue will reach RMB 2 billion, a year-on-year increase of 68.7%, and the synergy with other major businesses has gradually emerged.
In the past two years, the rapid development of China’s real estate market has become a major driving force for Shell’s listing and performance. In 2019 and 2020, my country’s commercial home sales reached 16 trillion and 17 trillion yuan, respectively, reaching consecutive all-time highs. Founded in April 2019, Shell Search has achieved rapid development and will land on the New York Stock Exchange in August 2020.
Industrial Internet digital transformation
Behind the growth of the three main sectors of common housing, new housing and emerging businesses, Shell continued to carry out a profound digital transformation of the Internet in the residential industry. Last year, the epidemic played an important role in catalyzing the online process of the residential services industry. At the beginning of the epidemic, the platform fully launched training in online brokerage, virtual reality viewing and online property sales. With the mature and large-scale application of virtual reality, artificial intelligence and other technologies, Shell further optimizes the user experience and the efficiency of finding, viewing and buying a home.
As of the end of 2020, Shell Real Estate Dictionary has collected dynamic data from 240 million houses in China and virtual reality house models from more than 9 million houses. At the end of the year, virtual reality movie houses covered more than 73% of the second-hand houses for sale. In 2020, there were more than 66 million VR tape viewing releases, compared to just 3.9 million in 2019.
According to the financial report, Shell’s R&D expenses in 2020 will be RMB 2.478 million. Continuous innovation and technology investment have promoted standardization, digitization and intelligence of people, objects and processes, while at the same time Shell has gained the recognition and trust of more users: Shell In the fourth quarter of 2020, the Mobile MAU reached 48.18 million, an 88% year-on-year increase.
On the service side, with the help of a variety of digital tools, the effectiveness of ACN’s cooperation network has also been rapidly improved. ACN (Agent Cooperate Network) refers to the fact that the same brand or cross-brand brokers participate in a transaction in different roles under the premise of complying with rules such as the full exchange of information about housing. A cooperative model in which the real contribution of the paper is divided into commissions is the first landing model of the symbiotic economy in the realm of residential services.
Under the effectiveness of ACN’s cooperation network, the second-hand home brokerage services industry is evolving towards an “ideal state”: Real estate brokerage brands, stores and brokers have started to open cooperation to improve efficiency and quality of service. Today, there is a significant proportion of inter-store and inter-brand transactions on the Shell platform, reflecting the value of ACN’s network of cooperation.
Value of service and pursuit of quality
In the past year, better service providers have provided better services to consumers as part of the high-quality offering. Shell creates a comprehensive growth system for industry service providers and makes efforts in recruitment, education, retention and other linkages to promote the career and career development of service providers and create lifelong ambitions.
Shell has created a system that covers the entire career of brokers, such as salary plan and grand exam, established the Huaqiao Academy to help store owners develop, and created a position for brand owners to communicate and learn : Force Field School of Business. and cooperate with Many universities across the country are discussing the establishment of professional courses for the professional education of intermediaries. Shell teamed up with industry associations, professional colleges and recognized companies in the industry to jointly develop standards and develop the vocational skill level certificate “New Residential Digital Brokerage Service”, which was selected in the fourth batch of the “Certificate 1 + X “. by the Ministry of Education, becoming the first national residential services industry to land Case.
In the context of normalizing the epidemic, Shell has played the role of “stabilizer” of employment in the residential services industry and launched the “Spring Hope Plan” in February this year. He plans to join a new brokerage brand to hire agents. of the whole of society in 2021.
As of December 31, 2020, the proportion of highly trained brokers hired by Shell Platform has exceeded 30%.
The evolution of the platform’s service commitments leads to the iteration of industry quality standards. By the end of 2020, Shell Platform’s top 8 second-hand housing services commitments reached 84% penetration in the city’s top 30 stores; the promise to “pay for no reason” for new homes has spanned 100 cities across the country. ; the fund deposit coverage rate has exceeded 80%, which is valid Help consumers avoid transaction risks and enjoy more secure service guarantees. More new brokerage brands, relying on the platform to achieve consensus and practice on quality industry services this year.
“In 2021, Shell will focus on five main areas: being good for consumers, helping service providers be good for consumers, cultivating emerging businesses, creating social value, and strengthening the key role of technology in broad business opportunities. We are full of confidence Shell will continue to work hard for the vision of a new residential services platform serving 300 million families in China, “said Peng Yongdong.
