The firm’s SaaS platform is driving an business-large electronic transformation
SHANGHAI, March 27, 2022 /PRNewswire/ — On March 22, Qeeka Household (01739.HK, operator of Jia.com in China) (the “Enterprise”), a SaaS enabled remedy platform serving China’s interior style and design and construction (IDC) sectors, released its 2021 full-year money success. For the past financial year, the Business reported revenue of RMB 1,107 million, a calendar year-on-calendar year boost of 20.8%, with web gain attributable to shareholders reaching RMB 74 million, surging 82.3% in comparison to the prior 12 months.
The robust development was a final result of the success of Qeeka Home’s full SaaS-enabled method, a driver to an marketplace-extensive digital transformation that has sent greater general efficiency and authorized the Corporation to redeploy the ideal of its means to deal with the soreness details and difficulties facing the provide and demand sides in conditions of the product sales and delivery course of action, supporting the Organization understand sturdy advancement.
Revenue enhanced 20.8% year-on-12 months, with large possible in the marketplace for housing stock
As an sector intensely dependent on bodily operations, the house enhancement sector has been hit tough by the recurring epidemic, particularly in in-person scenarios this sort of as home visits to choose measurements as well as delivery and set up of the done product. As China further tightens regulation and supervision of the authentic estate current market, each the supply of new households and the resale of existing households have witnessed a substantial downturn, affecting to a variety of levels the regular expansion of the home enhancement market. To make issues worse, soaring charges of raw resources have led to a extraordinary value improve for stakeholders and an at any time more aggressive current market. Taken alongside one another, several industrial players knowledgeable growth stagnation and are going through the predicament exactly where income margins decrease even with an maximize in revenue. The marketplace now stands at an inflection issue in which a transition to the market for present housing stock is a will have to-do.
In accordance to knowledge from China Index Academy, the country’s residence income improved 1.9% year on yr to 1.79 billion square meters in 2021, when investments in actual estate development and new construction both of those witnessed a dramatic decline in comparison to the prior 12 months. However when China’s significant economic advancement and the raise in disposable profits among the buyers are taken into thought, a action up in what purchasers be expecting from their house enhancement initiative shows that demand for top quality product or service is obviously on the increase. In reaction to the shrinking new housing marketplace, renovating current accommodations or upgrading freshly procured second-hand residences has established to be an helpful suggests of improving the high-quality of house daily life. Based on the calculation of setting up the renovation of a property each individual 10 to 15 many years, homeowners who ordered a property among 2007 and 2020 will be hunting to improve at some level in excess of the up coming 10 many years. That 13-calendar year period was a golden age for the country’s property market place, pointing the way to a shortly-to-start out similar golden age for the household advancement and renovation segment.
In spite of the large likely in the marketplace for current housing, there is certainly a pretty large difference among refurbishment of an older home, partial improvement, and renovation of a additional not long ago created household. Refurbishment of older structures provides tougher difficulties as these types of clients are more dispersed, their needs are a lot more diversified when both equally the purchaser acquisition and required design work are more challenging. In other terms, to create a presence in the marketplace, installers require to shift from a “tough” small business model to a single that is a lot extra refined, in which consumer expectations are met in all respects by upgrading of product excellent, enhancement in provide chain performance, optimization of group management, strengthening of electronic abilities, and addition of high quality-targeted solutions.
As a leading platform in the business, with remarkable information and engineering capabilities, Qeeka House has been committed to featuring SaaS methods and prolonged companies to household enhancement companies, serving to them improve their skills to regulate their organizations, lower running expenditures and reap larger performance. The system facilitated the standardization of the sector by producing relevant benchmarks and offering top quality retailers the instruments what they require to deliver in much more shoppers by upgrading its Qijia Bao buyer defense program and launching a merchant star rating method. The data exhibits that the amount of energetic having to pay retailers on the Jia.com platform rose by 18.3% calendar year on calendar year to 5,799 in 2021, like 2,242 newcomers. The merchant retention rate climbed to 73%, whilst the retention rate of new spending retailers arrived at 81%, representing strong development throughout-the-board.
Even with the downward stress faced by the field, the Qeeka Property platform has served to empower property improvement companies as they cope with the uncertainty and the vital enhance method. The platform also acts as a stabilizer for the industry’s compact and medium-sized merchants who have to have a powerful spouse to get them by the rough patch. For the full 12 months of 2021, Qeeka Property booked total revenue of RMB 1,107 million, a yr-on-calendar year surge of 20.8%, with gross revenue amounting to RMB 590 million, up 14.%. Internet income attributable to shareholders attained RMB 74 million, a substantial improve of 82.3%, symbolizing a solid development.
SaaS tactic drives the transition to digitalization for installers
Because of to inherent weaknesses, coupled with intense competitiveness, the industry observed a sharp increase in the amount of companies that identified as it quits. Installers require to lower expenses and strengthen performance and the only way to get there is through digitalization. According to analysis info, the digitalization amount of the IDC market right now stands a paltry 10%, with significant headroom for expansion. As a very long-proven platform, Qeeka Residence is poised to be the 1st choice amongst installers when they choose for a electronic up grade.
Qeeka Home’s supplying covers two significant organization segments: the SaaS-dependent house improvement empowerment platform and a range of interior style and design and decoration manufacturers. Income from SaaS and extended companies totaled RMB 630 million for the 12 months, up 17.3%. The progress of core enterprises was, for the most element, pushed by the constant improvement of its digitalization-concentrated SaaS-enabled technique, which include delivering a one particular-cease answer that addresses the gamut from internet marketing companies to offer chain procurement help to progressive worth-extra expert services. The solution will support them cope with actual-entire world issues and enhance operational effectiveness.
When it comes to digital promoting, Qeeka Home generates sales opportunities via its have brands, status and normal recognition throughout the sector, and will help installers transform potential customers by means of big details matching and upgrading purchaser security goods to improve purchaser acquisition. In terms of offer chain empowerment, Qeeka Household has adopted a hybrid of centralized paying for and new retailing, enabling companies to minimize back again-close procurement costs and enhance performance by way of digital processes.
As the bulk of potential prospects shifts to Gen Z, on line brand visibility and purchaser reviews are likely to develop into the analyzing components when a obtain is created. To enhance the user expertise, Qeeka Home has put a great deal energy into building sure the platform provides the most optimized shopper working experience for the duration of the household enhancement obtaining system. Ongoing constructive testimonials from consumers led the system to history a calendar year-on-year boost of 8.3% in the buyer demand from customers level in 2021, though the typical marketing and advertising profits for every lead stood at RMB 707, up 7.6% year-on-year.
In accordance to a report by the Guide-Leo Analysis Institute, second-hand housing and current housing stock are anticipated to be the primary motorists of the escalating need for property advancement in the future. This is a indicator that attaining and serving the shopper have develop into much a lot more difficult for installers, put together with a new set of anticipations from individuals that have just entered the current market. Digitalization is an unavoidable ought to-do for sector advancement, as on the internet platforms will enchantment additional to upcoming purchasers than common household enhancement firms. With the positive aspects that can be generated from digitalization basically staring the marketplace in the encounter, Qeeka Home has created it a best precedence to fulfill the expectations of Gen Z purchasers, present installers additional empowerment initiatives dependent on the SaaS system, more reinforce R&D and improve the in-property organizational framework. All of these measures will go a extensive way in encouraging property improvement customers stay clear of making costly problems, though performing to fully guard the legal rights and passions of buyers as effectively as enhance the consumer working experience end-to-finish, with the finish objective being the realization of the Company’s eyesight of the contented client who lives in a gorgeous and snug property.
About Qeeka Dwelling
Qeeka House (01739.HK, domestic operator of Jia.com) is just one of the most significant SaaS enabled resolution platforms in Interior Style and design & Construction (IDC) Field in China. The enterprise delivers promoting provider, supply chain provider and other progressive benefit-extra companies to 1000’s of IDC service companies through the SaaS platform. Qeeka also operates various perfectly-known IDC models in China and presents people with capital safety and independent inspection providers. Qeeka Household was founded in 2007 and listed on the most important board of HKSE on 2018.
For far more details, remember to get in touch with:
Qeeka Property
Cellphone: (+86) 021-61740163
E-mail: [email protected]
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