China Index Holdings Announces Third Quarter 2019 Financial Results
Operating Expenses were RMB52.5 million in the third quarter of 2019, an increase of 28.7% from RMB40.8 million in the corresponding period of 2018.Selling and marketing expenses were RMB27.5 million in the third quarter of 2019, an increase of 22.8% from RMB22.4 million in the corresponding period of 2018, primarily due to an increase in personnel costs resulting from the growing number of selling and marketing personnel headcount.General and administrative expenses were RMB17.4 million in the third quarter of 2019, an increase of 43.8% from RMB12.1 million in the corresponding period of 2018, primarily due to an increase in personnel costs to support our business expansion.Operating IncomeOperating Income was RMB76.6 million in the third quarter of 2019, an increase of 42.1% from RMB53.9 million in the corresponding period of 2018.Income Tax ExpensesIncome tax expenses were RMB11.0 million in the third quarter of 2019, an increase of 17.0% from RMB9.4 million in the corresponding period of 2018.Net IncomeNet income was RMB66.0 million in the third quarter of 2019, an increase of 43.5% from RMB46.0 million in the corresponding period of 2018.Business Outlook
Based on current operations and market conditions, management remains confident in achieving CIH’s total revenue expectations for 2019, which ranges from approximately RMB580.0 million to approximately RMB610.0 million, representing a year-over-year increase of approximately 37.8% to approximately 44.9%. These estimates represent management’s current and preliminary view, which are subject to change.A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on November 14, 2019 through 7:59 AM ET November 22, 2019. 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 the largest real estate information and analytics service platform in China.1 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 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.
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS i
(Amounts in thousands of Renminbi (“RMB”))
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF
COMPREHENSIVE INCOME i
(Amounts in thousands of RMB))
1 In terms of geographical coverage and volume of data points as of December 31, 2018, according to an industry report prepared by Frost & Sullivan in 2019.i The financial results prior to the separation of CIH from Fang Holdings Limited (“Fang”) have been prepared on a stand-alone basis and are derived from the consolidated financial results and underlying accounting records of Fang, as the financial results of CIH had been historically included within the consolidated financial results of Fang prior to its separation from Fang, which was completed on June 11, 2019.