The 2021 annual report of incredibly home: light asset expansion to promote growth and digital transformation to improve efficiency

On April 21, incredibly home (000785. SZ) released its financial report for 2021. From the financial report, the home has continued the previous high-quality development trend. The company's revenue was 13.071 billion yuan, a year-on-year increase of 44.88%; The net profit was 2.325 billion yuan, a year-on-year increase of 71.36%. The rapid growth of performance benefits from the quality and efficiency improvement of the company's Direct stores and the efficient expansion realized by relying on the asset light mode. At the same time, the profitability of incredibly home is also continuously improving. In 2021, the return on net assets of the company reached 12.43%, an increase of 4.02% over the previous year. Behind this is the result of the company's fine operation and digital empowerment. Relying on the asset light mode, even if the number of stores increases significantly, the consumption of the company's own cash flow is also at a low level. In 2021, the company's operating cash flow reached 5.7 billion yuan, a year-on-year increase of 178%. In addition, digital empowerment also improves the business efficiency of the company. During the reporting period, the home actually increased its digital investment. The positive significance of digital investment is also feeding the company's business development. According to the annual report, the operating revenue of the company's platform services reached 976 million yuan in 2021, a year-on-year increase of 15.93%. In general, while doing a solid job in the operation of offline physical stores, incredibly home has continued to increase digital investment and accelerate the transformation and upgrading of business model, realizing more stable and high-quality growth.