Eggshell apartments revenue in 2019 is 7.13 billion yuan, with a net loss of 3.437 billion yuan

category:Internet
 Eggshell apartments revenue in 2019 is 7.13 billion yuan, with a net loss of 3.437 billion yuan


On March 25, NYSE: DNK, the Internet long-term apartment operator, released its unaudited financial report for the fourth quarter of 2019 and the whole year, which is also the first performance release after the listing of the eggshell apartment.

According to the financial report, in the fourth quarter of 2019, the income of eggshell apartment was RMB 2.129 billion, an increase of 112.5% year-on-year, the net loss was RMB 921 million, the net loss rate decreased by 12.3 percentage points year-on-year, and the adjusted EBITDA (EBITDA) was RMB 461 million.

From the data of 2019, the income of eggshell apartment is 7.129 billion yuan, an increase of 166.5% year on year, and the net loss is 3.437 billion yuan. The net loss rate and adjusted EBITDA loss rate are 3.0 and 3.5 percentage points lower than the same period of last year.

Gao Jing, co-founder and CEO of eggshell apartment, said in the financial report: eggshell maintained a rapid growth momentum in the fourth quarter and the whole year of 2019. We have expanded our business to Suzhou, Wuxi, Xian and Chongqing, covering 13 cities across the country, which further proves our ability to successfully replicate across cities, and these achievements have boosted the companys revenue growth. But with the outbreak of coronavirus, 2020 will be a challenging year. We will try our best to protect the health and safety of renters and employees, improve our technical capabilities and further expand the scale.

According to industrial and commercial data, the eggshell apartment, founded in 2015, is an asset management and residential service platform for renting and living. As of December 31, 2019, the number of apartments operated by eggshell apartments was 438300, an increase of 85.4% year on year. Among them, there are about 224000 apartments in Beijing, Shanghai and Shenzhen, up 46.6% year on year. The number of apartments in other cities was nearly 215000, up 156.1% year on year.

From the perspective of occupancy rate of operating housing sources, there is a slight decline. According to the annual report, as of December 31, 2019, the occupancy rate of eggshell apartment is 76.7%, which is lower than 89% in the first half of 2019.

The financial report shows that as of December 31, 2019, eggshell apartments held cash and restricted cash totaling RMB 3.456 billion.

In 2020, the novel coronavirus broke out. The eggshell apartment said it expects the first quarter of 2020 to have adverse effects on business and financial performance due to the outbreak of the new coronavirus. The company expects occupancy to decline as residents delay returning to work, which will have a negative impact on the companys work. Meanwhile, since novel coronavirus broke out, the company has adjusted the number of apartment units operated to offset some adverse effects on its occupancy rate. As a result, as of March 31, 2020, the number of apartments the company will operate is expected to decline compared to the end of 2019. In addition, the company has been taking active action to control its costs and expenses, including slowing down the pace of purchase and renovation of apartments. In addition, the companys management team volunteered to cut salaries in difficult times. For this years business outlook, eggshell apartment said in the annual report that based on the current market and operating conditions, the company expects the operating revenue in the first quarter of 2020 to be between 1.9 billion yuan and 2 billion yuan. Eggshell apartment was officially listed on the New York Stock Exchange on January 17 this year, with the stock code of DNK. It is the second domestic long-term apartment brand to be listed in the United States. As of March 24, EDT, eggshell apartment was at $7.65/ads, down 43.3% from the issue price. Source: surging news editor: Wang Fengzhi, nt2541

In 2020, the novel coronavirus broke out. The eggshell apartment said it expects the first quarter of 2020 to have adverse effects on business and financial performance due to the outbreak of the new coronavirus. The company expects occupancy to decline as residents delay returning to work, which will have a negative impact on the companys work. Meanwhile, since novel coronavirus broke out, the company has adjusted the number of apartment units operated to offset some adverse effects on its occupancy rate. As a result, as of March 31, 2020, the number of apartments the company will operate is expected to decline compared to the end of 2019. In addition, the company has been taking active action to control its costs and expenses, including slowing down the pace of purchase and renovation of apartments. In addition, the companys management team volunteered to cut salaries in difficult times.

For this years business outlook, eggshell apartment said in the annual report that based on the current market and operating conditions, the company expects the operating revenue in the first quarter of 2020 to be between 1.9 billion yuan and 2 billion yuan.

Eggshell apartment was officially listed on the New York Stock Exchange on January 17 this year, with the stock code of DNK. It is the second domestic long-term apartment brand to be listed in the United States. As of March 24, EDT, eggshell apartment was at $7.65/ads, down 43.3% from the issue price.