On May 23, Shell (NYSE: BEKE; HKEX: 2423), a one-stop new housing service platform driven by technology, announced financial results for the first quarter of 2024. During the reporting period, Shell achieved a total transaction volume of 629.9 billion yuan and net revenue of 16.4 billion yuan. While promoting continuous business development, Shell attaches great importance to shareholder returns and actively carries out cancellation-style share repurchases and cash dividends. In January-May of this year, Shell spent more than 340 million US dollars to vigorously repurchase shares. The number of shares repurchased accounted for about 2% of the company's total share capital.

Xu Tao, Executive Director and Chief Financial Officer of Shell, said, “Towards a one-stop new residential service platform, we will maintain a healthy and stable balance sheet and ensure efficient asset allocation to help the business achieve long-term development. At the same time, we are actively promoting shareholder return plans and sharing the dividends of development with investors accompanying the company.”

Shell continues to deliver on its promises. Since the launch of the Shell share repurchase program in September 2022, as of May 2024, Shell has spent a total of about US$1,254 billion to repurchase shares. The number of shares repurchased accounts for about 6.77% of the total share capital issued when the 2022 Company's shareholders' meeting approved the repurchase plan.

In addition to major buybacks, Shell also recently completed a cash dividend for the end of 2023, with a total dividend of approximately US$400 million. In September 2023, the company also paid out a special cash dividend of approximately $200 million for the first time. Coupled with the share repurchase of approximately US$720 million last year, Shell's total shareholder return for the full year of 2023 reached approximately US$1.32 billion, accounting for about 159% of the 2023 net profit.

According to market disclosure information for the first quarter, Shell received additional positions from internationally renowned long-term institutions including Wellington Management Company, Baillie Gifford, Bank of Norway Investment Management Company, and Gao Lin, highlighting Shell's long-term growth and investment value.