China Index Holdings Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
BEIJING, March 12, 2021 (GLOBE NEWSWIRE) — China Index Holdings Limited (NASDAQ: CIH), (“CIH” or the “Company”), a leading real estate information and analytics service platform provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020.
Fourth Quarter 2020 HighlightsTotal revenues were RMB182.0 million, an increase of 8.1% from RMB168.3 million in the corresponding period of 2019.Operating income was RMB100.8 million, an increase of 16.0% from RMB86.8 million in the corresponding period of 2019.Net income was RMB91.8 million, an increase of 22.8% from RMB74.7 million in the corresponding period of 2019.
Fiscal Year 2020 HighlightsTotal revenues were RMB635.9 million, an increase of 9.7% from RMB579.7 million in 2019.Operating income was RMB325.2 million, an increase of 13.1% from RMB287.6 million in 2019.Net income was RMB294.0 million, an increase of 19.8% from RMB245.5 million in 2019.
“Despite an unprecedented year, our business has kept growth and our profits were solid in the fourth quarter,” commented Yu Huang, CEO of CIH. “As we have entered 2021, we will continue to implement our focused strategy to invest in research and development to achieve sustainable and long-term growth.”Fourth Quarter 2020 Financial ResultsRevenuesCIH reported total revenues of RMB182.0 million in the fourth quarter of 2020, an increase of 8.1% from RMB168.3 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB85.6 million in the fourth quarter of 2020, an increase of 11.4% from RMB76.8 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB96.4 million in the fourth quarter of 2020, an increase of 5.4% from RMB91.5 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB33.4 million in the fourth quarter of 2020, which remained stable compared to RMB33.9 million in the corresponding period of 2019.Operating ExpensesOperating expenses were RMB47.9 million in the fourth quarter of 2020, which remained stable compared to RMB47.6 million in the corresponding period of 2019.Selling and marketing expenses were RMB26.0 million in the fourth quarter of 2020, which remained stable compared to RMB26.4 million in the corresponding period of 2019.General and administrative expenses were RMB21.9 million in the fourth quarter of 2020, an increase of 3.5% from RMB21.2 million in the corresponding period of 2019.Operating IncomeOperating Income was RMB100.8 million in the fourth quarter of 2020, an increase of 16.0% from RMB86.8 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB15.2 million in the fourth quarter of 2020, which remained stable compared to RMB15.2 million in the corresponding period of 2019.Net IncomeNet income was RMB91.8 million in the fourth quarter of 2020, an increase of 22.8% from RMB74.7 million in the corresponding period of 2019.Fiscal Year 2020 Financial ResultsRevenuesCIH reported total revenues of RMB635.9 million for 2020, an increase of 9.7% from RMB579.7 million in 2019.Revenues from information and analytics services (SaaS) were RMB303.4 million for 2020, an increase of 13.0% from RMB268.6 million in 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB332.6 million for 2020, an increase of 6.9% from RMB311.1 million in 2019, primarily due to an increase in number of customers.Cost of RevenueCost of revenue was RMB105.5 million for 2020, a decrease of 4.5% from RMB110.5 million in 2019.Operating ExpensesOperating Expenses were RMB205.2 million for 2020, an increase of 13.0% from RMB181.6 million in 2019.Selling and marketing expenses were RMB112.4 million for 2020, an increase of 13.5% from RMB99.0 million in 2019, primarily due to an increase in personnel costs resulting from the growing number of selling and marketing personnel headcount.General and administrative expenses were RMB92.8 million for 2020, an increase of 12.4% from RMB82.6 million in 2019.Operating IncomeOperating Income was RMB325.2 million for 2020, an increase of 13.1% from RMB287.6 million in 2019.Income Tax ExpensesIncome tax expenses were RMB49.1 million for 2020, an increase of 9.7% from RMB44.7 million in 2019.Net IncomeNet income was RMB294.0 million for 2020, an increase of 19.8% from RMB245.5 million in 2019.Business OutlookBased on current operations and market conditions, the management expects to maintain a double-digit growth momentum on its total revenue for 2021. These estimates represent management’s current and preliminary view, which are subject to change.Conference Call InformationCIH’s management team will host a conference call on March 12, 2021 at 7:00 AM U.S. ET (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are:Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), and your unique Registrant ID, followed by the pound or hash (#) sign to join the call.Direct Event online registration: http://apac.directeventreg.com/registration/event/1853648A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on March 12, 2021 through 08:59 AM ET March 20, 2021. The dial-in details for the telephone replay are:A live and archived webcast of the conference call will be available at http://ir.chinaindexholdings.com.About CIHCIH operates a leading real estate information and analytics service platform in China in terms of geographical coverage and volume of data points. Its services span across database, analytics, promotions and listing services for China’s real estate markets. CIH serves a substantial base of real estate participants in China, including real estate developers, brokers and agents, property management companies, financial institutions and individual professionals, with an authoritative, comprehensive and seasonable collection of real estate data, complemented by a variety of powerful analytical and marketing tools. For more information about CIH, please visit http://ir.chinaindexholdings.com.Safe Harbor StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions, and include, without limitation, statements regarding CIH’s future financial performance, revenue guidance, growth and growth rates, market position and continued business transformation. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond CIH’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in CIH’s filings with the U.S. Securities and Exchange Commission. CIH does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.For investor and media inquiries, please contact:Ms. Jessie Yang
Investor Relations
Email: CIH-IR@fang.comCHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”))
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands of RMB)
Fourth Quarter 2020 HighlightsTotal revenues were RMB182.0 million, an increase of 8.1% from RMB168.3 million in the corresponding period of 2019.Operating income was RMB100.8 million, an increase of 16.0% from RMB86.8 million in the corresponding period of 2019.Net income was RMB91.8 million, an increase of 22.8% from RMB74.7 million in the corresponding period of 2019.
Fiscal Year 2020 HighlightsTotal revenues were RMB635.9 million, an increase of 9.7% from RMB579.7 million in 2019.Operating income was RMB325.2 million, an increase of 13.1% from RMB287.6 million in 2019.Net income was RMB294.0 million, an increase of 19.8% from RMB245.5 million in 2019.
“Despite an unprecedented year, our business has kept growth and our profits were solid in the fourth quarter,” commented Yu Huang, CEO of CIH. “As we have entered 2021, we will continue to implement our focused strategy to invest in research and development to achieve sustainable and long-term growth.”Fourth Quarter 2020 Financial ResultsRevenuesCIH reported total revenues of RMB182.0 million in the fourth quarter of 2020, an increase of 8.1% from RMB168.3 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB85.6 million in the fourth quarter of 2020, an increase of 11.4% from RMB76.8 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB96.4 million in the fourth quarter of 2020, an increase of 5.4% from RMB91.5 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB33.4 million in the fourth quarter of 2020, which remained stable compared to RMB33.9 million in the corresponding period of 2019.Operating ExpensesOperating expenses were RMB47.9 million in the fourth quarter of 2020, which remained stable compared to RMB47.6 million in the corresponding period of 2019.Selling and marketing expenses were RMB26.0 million in the fourth quarter of 2020, which remained stable compared to RMB26.4 million in the corresponding period of 2019.General and administrative expenses were RMB21.9 million in the fourth quarter of 2020, an increase of 3.5% from RMB21.2 million in the corresponding period of 2019.Operating IncomeOperating Income was RMB100.8 million in the fourth quarter of 2020, an increase of 16.0% from RMB86.8 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB15.2 million in the fourth quarter of 2020, which remained stable compared to RMB15.2 million in the corresponding period of 2019.Net IncomeNet income was RMB91.8 million in the fourth quarter of 2020, an increase of 22.8% from RMB74.7 million in the corresponding period of 2019.Fiscal Year 2020 Financial ResultsRevenuesCIH reported total revenues of RMB635.9 million for 2020, an increase of 9.7% from RMB579.7 million in 2019.Revenues from information and analytics services (SaaS) were RMB303.4 million for 2020, an increase of 13.0% from RMB268.6 million in 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB332.6 million for 2020, an increase of 6.9% from RMB311.1 million in 2019, primarily due to an increase in number of customers.Cost of RevenueCost of revenue was RMB105.5 million for 2020, a decrease of 4.5% from RMB110.5 million in 2019.Operating ExpensesOperating Expenses were RMB205.2 million for 2020, an increase of 13.0% from RMB181.6 million in 2019.Selling and marketing expenses were RMB112.4 million for 2020, an increase of 13.5% from RMB99.0 million in 2019, primarily due to an increase in personnel costs resulting from the growing number of selling and marketing personnel headcount.General and administrative expenses were RMB92.8 million for 2020, an increase of 12.4% from RMB82.6 million in 2019.Operating IncomeOperating Income was RMB325.2 million for 2020, an increase of 13.1% from RMB287.6 million in 2019.Income Tax ExpensesIncome tax expenses were RMB49.1 million for 2020, an increase of 9.7% from RMB44.7 million in 2019.Net IncomeNet income was RMB294.0 million for 2020, an increase of 19.8% from RMB245.5 million in 2019.Business OutlookBased on current operations and market conditions, the management expects to maintain a double-digit growth momentum on its total revenue for 2021. These estimates represent management’s current and preliminary view, which are subject to change.Conference Call InformationCIH’s management team will host a conference call on March 12, 2021 at 7:00 AM U.S. ET (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are:Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), and your unique Registrant ID, followed by the pound or hash (#) sign to join the call.Direct Event online registration: http://apac.directeventreg.com/registration/event/1853648A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on March 12, 2021 through 08:59 AM ET March 20, 2021. The dial-in details for the telephone replay are:A live and archived webcast of the conference call will be available at http://ir.chinaindexholdings.com.About CIHCIH operates a leading real estate information and analytics service platform in China in terms of geographical coverage and volume of data points. Its services span across database, analytics, promotions and listing services for China’s real estate markets. CIH serves a substantial base of real estate participants in China, including real estate developers, brokers and agents, property management companies, financial institutions and individual professionals, with an authoritative, comprehensive and seasonable collection of real estate data, complemented by a variety of powerful analytical and marketing tools. For more information about CIH, please visit http://ir.chinaindexholdings.com.Safe Harbor StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions, and include, without limitation, statements regarding CIH’s future financial performance, revenue guidance, growth and growth rates, market position and continued business transformation. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond CIH’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in CIH’s filings with the U.S. Securities and Exchange Commission. CIH does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.For investor and media inquiries, please contact:Ms. Jessie Yang
Investor Relations
Email: CIH-IR@fang.comCHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”))
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands of RMB)