Qeeka Home(Cayman) Inc. (stock code 1739.HK), the largest online interior design and construction platform in China, has landed in Hong Kong's capital market on July 12th and has filled the gap in the "IDC Online Platform of HKEx", thus receiving continuous attention and enthusiasm of investors. Yesterday, Qeeka released its 2018 interim results and handed over the first transcripts after listing to the market. Its performance was brilliant, with total revenue of approximately RMB275.58 million, representing an increase of 33.8% year-on-year; of which online platform revenue was approximately RMB160.29 million, representing a year-on-year increase of 117.2%. In addition, due to increased internet revenue, the adjusted net profit of the continuing operations recorded approximately RMB20.67 million (a net adjusted loss of approximately RMB38.48 million as compared to the same period last year). All these show Qeeka is giving back the attention of the market and the support of investors with solid performance.
Expand the booming ecosystem continuously with strong growth in platform business
With its rich experience and market-leading vision, Qeeka has gradually established a thriving ecosystem that continues to aggregate more and more service providers, users and other groups related to interior design and construction value chains and the core Internet platform business continued to show strong growth momentum.
As of June 30th, 2018, the number of interior design and construction service providers on its Internet platform reached 8083, an increase of 43% year-on-year, spanning over more than 308 cities; its online platform has 46.3 million unique monthly visitors, an increase of 48.5% over the same period of last year. Among them, the monthly independent visitors in May 2018 reached 54.31 million with obvious traffic advantage. In addition, the number of recommended users and conversion users increased by more than 45% year-on-year in the first half of 2018.
In order to further promote the expansion and management mechanism of merchants on the platform, Qeeka has accelerated the expansion of the offline pipeline network and recruited more than 100 additional professional business development personnel in order to expand a booming ecosystem continuously. The number of interior design and construction service providers on the platform increased from 6,680 on December 31st, 2017 to 8,083 on June 30th, 2018, an increase of 21% and expanded 51 new cities.
At the same time, Qeeka has also developed a self-operated interior design and construction business and franchise network, providing more diversified services and further expanding geographical coverage.
Optimize user experience with technological innovation and strengthen diversification
Under the circumstance that massive big data on the Internet is changing the existing production and life, Qeeka has also invested a lot of resources in technology development to provide advanced, convenient and safety user experience.In order to achieve better service matching, Qeeka has established an artificial intelligence engine and automatic matching system, using powerful customer tracking technology and big data analysis to provide better services for users and service providers.
Qeeka improves the accuracy of portraits (that is, files about user-specific interior design and construction services) and optimizes algorithms that intelligent users recommended to more accurately interface service providers with specific capabilities to users. Thanks to this, the retention rate of service providers on its platform has risen to 84% as of June 30th, 2018, compared to 77% as of December 31st, 2017.
In the ecosystem built by Qeeka, finance, supply chain and other businesses is gradually becoming their new growth engine. Based on the increasing capital demand of decoration users, Qeeka continuously promotes the financial application exploration for the decoration scene, and cooperates with financial institutions to provide users with diversified decoration loan services and indicate users’ need to solve the decoration funds at a lower cost. In the supply chain, Qeeka will continue to cooperate with supply chain partners with a more open and inclusive attitude, take advantage of the scaled purchasing, and promote the application of supply chain management systemamong service providers to help them reduce the building materials procurement costs.
As a market leader, Qeeka is committed to making interior design and construction processes more efficient, convenient and transparent, which continues to focus on the long-term development of the online platform, enriching the platform content, actively promoting Qijiabao service and improving the overall user experience to meet user needs. Additionly, Qeekaconstantly accelerates the layout of new businesses to match more diversified monetization models. As a result, it is believed that Qeeka, which has a high market share, will release more development potential and consolidate its leading position in the industry.