【True Insight Hong Kong Stock Trends】Beike (02423.HK)'s subsidiary Beiwo Decoration upgrades its 'Ten-Hearted Sincere' service commitment to create a high-quality ideal living environment

Zhenzhuo Financial News April 11, 2024 - Beike (BEKE.US/02423.HK), a technology-driven one-stop new residential service platform, held an upgrade release event for its self-operated home decoration brand "Beiwo" in Beijing under the theme "Quality Renovation·Making Homes Better." $KE(BEKE.US) $BEKE-W(02423.HK)

At the event, Beiwo upgraded its service commitments to address high-frequency and high-risk pain points such as substandard renovation quality, delays in home decoration services, and inadequate after-sales guarantees. Liang Hongli, head of the Quality Management Center of Beike's Renovation Business Line, explained the upgrade details. Specifically, the upgraded service commitments include both iterative improvements and new additions. To tackle price opacity, the "Malicious Additional Charges, Double Refund" commitment now covers a broader scope, ensuring not only renovation packages but also charges for personalized services like whole-house customization, appliances, and heating. Additionally, regarding substandard renovation quality, the commitment expanded from "20 Quality Items, Redo from Scratch" to "30 Quality Items, Redo from Scratch," promising unconditional rectification and rework for any quality issues listed in Beiwo's "30 Quality Construction Items." As early as September 2021, Beiwo launched its "Ten Sincere Commitments" for renovation services, covering costs, quality, timelines, and service standards.

Leveraging its advantages in home decoration technology and digitalization, Beiwo committed to "Live Construction Site, Stop for a Day, Compensate a Hundred," using its self-developed 360° light-style cameras to provide daily panoramic live streams of construction sites. Homeowners can monitor progress via mobile devices, ensuring "No Need to Supervise, Beiwo Handles Everything"—what you see is what you get, and what you get is quality. The upgrade also introduced new commitments like "30-Day Price Protection, Refund the Difference if Overcharged," "Design Omissions, Refund Design Fees," and "Prompt Response, 30124."

According to Beike Research Institute's "2023 Home Decoration Consumer Quality Report," home decoration is increasingly becoming a core part of residential consumption, with consumers demanding more comprehensive and detailed service quality. Liang Lei, General Manager of Beiwo, emphasized: "Whether through technology, management, or methodology, a mechanism is needed to implement standards, continuously improve industry professionalism, and provide customers with more certainty—delivering a complete and beautiful home."