China’s online and offline integrated real estate trading service platform shell search (Stock Code: BEKE) officially landed on the New York Stock Exchange on Thursday. The IPO closed up 87.2% on the first day of its IPO, with its share price at $37.44 and a market value of $42.2 billion.
in this transaction, shell will issue 106 million ADSS and exercise 15.9 million ADSS. The listing raised about US $2.44 billion.
in the listing process, Tencent has subscribed for at least US $200 million, Hillhead and Sequoia have respectively subscribed for us $100 million; fidelity has subscribed for at least US $200 million, and entities associated with fidelity intend to subscribe for us $200 million.
Liu Xing, partner of Sequoia China fund, said that shell listing was a milestone. Shell is the first company to digitize and restructure complex transactions that rely on heavy services. What’s more, it also realizes platform.
it is reported that the financing amount of shell house will be used for R & D investment, expansion of new house transaction services, development of diversified service products and general enterprise purposes.
shell house search is a combination of a real estate brokerage brand “Lianjia” with a history of more than 18 years and a comprehensive online + offline real estate transaction and service platform “shell” with a history of 2 years.
the chain family completed the b-round financing in 2016. The investors include Huaxing capital, Baidu, Tencent, new hope group, Taiwan asset, source capital, Jingwei China, Zhiyi capital, etc.
in April 2018, lianjia.com was upgraded to shell house search, positioning itself as a technology driven quality living service platform, opening up high-quality resources and online capabilities, aggregating and empowering high-quality service providers in the industry, creating a quality living service ecosystem and providing consumers with all-round residential services including second-hand housing, new housing and leasing.
according to the prospectus, in the first half of 2020, the sales revenue of shell house hunting was 27.26 billion yuan, an increase of 39% compared with 19.61 billion yuan in the same period of last year; the net profit was 1.61 billion yuan, an increase of 188.6% compared with 560 million yuan in the same period of last year.
affected by the epidemic situation, in the first half of 2020, the trading income of shell house inventory was 12.56 billion yuan, which was basically the same as that of 12.64 billion yuan in the same period of last year.
the impact of the new house transaction was small, with revenue of 13.98 billion yuan, an increase of 115.7% compared with 6.48 billion yuan of the same period of last year; the income of other new businesses was 730 million yuan, an increase of 49% compared with 490 million yuan in the same period of last year.
in the first half of 2020, the marginal contribution of shell’s housing stock transactions was 4.85 billion, which was the same as that of the same period of last year; the marginal contribution of new housing transactions was 3.5 billion, 74.1% higher than that of 2.01 billion yuan in the same period of last year; the marginal contribution of other emerging businesses was 620 million yuan, an increase of 55% compared with 400 million yuan in the same period of last year. It can be seen that the stock of housing transactions is still the basic shell plate, while the contribution of new housing and other emerging businesses is increasing.
in the second quarter of 2020, the revenue of shell house hunting was 20.14 billion yuan, 76% higher than that of 11.45 billion yuan in the same period of last year, and 183% higher than that of 7.119 billion yuan in the previous quarter.
the net profit of shell looking for houses in the second quarter of 2020 is 2.839 billion yuan, an increase of 626% compared with 390 million yuan in the same period of last year, and a loss of 1.23 billion yuan in the last quarter.