贝壳-W年度报告2024

（於開曼群島註冊成立以不同投票權控制的有限責任公司） 股份代號: 2423 2345294857104128136139142144147267269 •20241231133,494202331,4296.6%2024123122,465202320,28010.8%202412319,700202310,0303.3%20241231169202313327.3%202412311,160202398617.6% •20241231935202377820.2% •202412314,07820235,8902024123127,21120239,798 •2024123151,5732023123143,81717.7%20241231349,6932023123142,02118.3% •20241231499,93720231231427,65616.9%202412314445,27120231231397,13512.1% •202454,32020234,320 1995 202449033,4944,589 200123 2018ACNACN2018 ACNACNSaaS •(1)(2)(3)(4) •(1)SaaS(2) • • (i)(ii)(iii) ACN ACNACNACN23ACN(i)(ii)(iii) 202475%ACN ACNACN ACNACN AI20241231600 ACNSaaSAIACN SaaS SaaSSaaSSaaSACNA+ SaaSLink SaaSLink SaaSA+ SaaSSaaSSaaSSaaSHome SaaS VR NTSNTSNTS 2014 AIAI 20241231445,00049,00026720241231500,00051,000 2001AI20082010Link SaaS2011ACN 23ACN 20241231114,0005,6002024123128,00031,0001,4001,200 2018 2024123126644,000331,0002024123187%202466% ACN 20249,700 202452202355202434202343 Home SaaS Home SaaS Home SaaS(BIM)Home SaaS Home SaaS20192024Home SaaS 2.5Home SaaS 2.5(BIM)(SSC)BIMAI 202443202321 202442202320 7*24 AI C2MCustomer to ManufacturerC2MAI 2024 C2M202410.7615,7776.9715,304 AI 2008202412312.89SaaS (AI) AIAIAIChatHomeDreamHomeBella AIAIAI •AIAIAI •AIDreamHome •AI•AI•AIAI•AI •AI•AI•AICodeLink AI 2023202412311,9372,283 AI VR2015VR2016VRVRVRAI VRVR 20242022-2024 202412311,9081,159202412318,292728788161ke.comlianjia.com (i)(ii)(iii)(iv)(v)(vi) 202531820241231 2024202377820.2%9352024202331,4296.6%33,494 •20242822023280202320,28010.8%202422,465 (i)20232291.0%202423120238,4768.4%20249,185 (ii)202451202351202311,80412.5%202413,280 •202330610.1%2024337202310,0303.3%20249,70020238,0993.1%20247,84420231,9323.9%20241,856 •202310936.1%2024148ab)c •202361135.0%2024143 •2023238.8%202425 2024202356125.8%705 •2024202320411.5%228 •2024202317011.1%189 •20237732.8%2024102 •202362121.0%2024136 •202429202329 •20231913.6%202421 202347.2%202443.2% 202326.6%202424.8% 202329.0%202430.7% 20245.0%20231.0% 202486.0%202390.5% 20232175.6%2024229202424.6%202327.9%ab 202316913.3%2024192 •2023828.8%202490•20236717.0%202478•20231917.9%202423•2024152202393 20243,76520234,79720244.0%20236.2%20232024 20242,79220231,994 20244,07820235,890 EBITDA (i)(ii)(iii)(i)(ii)(iii)(iv)(v)(vi)(i)(ii)(iii)(iv)(v)(vi)(vii)EBITDA(i)(ii)(iii)(iv)(v)(vi)(vii)(viii) EBITDA 20231231601202412316162024 20231231322024123155 202120232024335334202320243063372023552024522023202467 2023202412311,0678582024 2023202412312362382023123120241231 2023202412314,8574,7772024 202312316,329202412319,493 202312312024123129028820241231202413.00%2024562.83% 202320241231601616 10%50% 20207202011 20249420244,0783,681162531,925 2,726744269313 2,4574,6741,3871,0935,5992,410270 202311420235,8904,848151,4132,075 3,2167752962778 8356,1231,4051,5486,3348831,220 202494(i)333426(ii)581566(iii)39(iv)240121 202340(i)389415(ii)278271(iii)12(iv)1458914 20245,795(i)5,101(ii)2,8312,140 20237,218(i)5,151(ii)756(iii)1,431427 202320248741,03720232024 20241231 202412311)9462)27233 20241231 20211230Chin v. KE Holdings Inc. et al., No. 1:21-cv-111962520241231 2024220202482012C0402024220 20241231 20241231 2024123146.3%2023123140.0% 202412312.8% A 20241231334 1231135,07220241231 20ACN 2001201320162017 45 20215201812201742010120253 20067201012001820033 2001620067 52 2018720071220219201712Ziroom Inc.20237Keep Inc.3650 199912200711 20191 59 202372021520181220208201852023720177201852015122017620048201432009122011420151220019200491986920018 19867 51 2021820181220208201611201662016102014820151220119201472008420112200152008319992001(Pepsi) 19967200510 49 20181220225201132008920105 20173102420159ZH23902020122023324692013122022883441820176202111(Missfresh Limited)MF 1998720045 55 202082022520143H CapitalH Capital2004920122Tiger Global20042200491994720042Veronis Suhler Stevenson 1992719945 55 202182022520223200062019122019121995112000620231017520203202252021620229301078MF 1991719947 56 202232022520182201732022530023220244301236 2010820175AsiaInfo Holdings, LLCAsiaInfo-Linkage, Inc.2000201420082201082006520082199742005619958199611SAP AGSAP1991119954 1989719996 45 59 51 2018620132018 20 21003690132619522015239010972498 13.51B(1) 13.51B(1)20249132024 2025329 13.51B(1) 20241231 201876A202251124232020813BEKE 200123 2024123120-F ••••••••••• •(i)(ii) • • • • • • •PCAOBPCAOB •PCAOBHFCAA20225HFCAA202120-F20221215PCAOBPCAOB202212312023123120-FHFCAA20-FHFCAA • •A•A 2 20241231 ABAB8A.24AB (1)3,477,710,889A144,042,476B (2)ABPropitiousGlobal849,601,280A (3)100,456,103B81,484,422ADataBliss LimitedEverOrient InternationalLimitedData Bliss Limited (4)43,586,373B54,429,357ASapient Rich Holdings LimitedClover Rich LimitedSapient Rich Holdings Limited B1:1A144,042,476BAA144,042,476A4.1% BB (i)8A.17(1)(2)(3)(4) (ii)BB8A.18 (iii)B8A.18(2) (iv)BA (v)Propitious Global(A)(i) PropitiousGl