China Index Holdings Announces Third Quarter 2020 Unaudited Financial Results
BEIJING, Nov. 11, 2020 (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 third quarter ended September 30, 2020.
Third Quarter 2020 HighlightsTotal revenues were RMB170.9 million, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.Operating income was RMB86.5 million, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.Net income was RMB76.1 million, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Third Quarter 2020 Financial Results
RevenuesCIH reported total revenues of RMB170.9 million in the third quarter of 2020, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB88.8 million in the third quarter of 2020, an increase of 14.4% from RMB77.6 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB82.1 million in the third quarter of 2020, an increase of 1.7% from RMB80.7 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB29.3 million in the third quarter of 2020, which remained stable compared to RMB29.2 million in the corresponding period of 2019.Operating Expenses
Operating expenses were RMB55.2 million in the third quarter of 2020, an increase of 5.1% from RMB52.5 million in the corresponding period of 2019.Selling and marketing expenses were RMB30.3 million in the third quarter of 2020, an increase of 10.2% from RMB27.5 million in the corresponding period of 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 RMB24.9 million in the third quarter of 2020, which remained stable compared to RMB25.0 million in the corresponding period of 2019.Operating IncomeOperating income was RMB86.5 million in the third quarter of 2020, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB13.4 million in the third quarter of 2020, an increase of 21.8% from RMB11.0 million in the corresponding period of 2019.Net IncomeNet income was RMB76.1 million in the third quarter of 2020, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Business Outlook
Based on current operations and market conditions, the management remains confident to believe that the Company will maintain a double-digit growth momentum both on its annual revenue and on its net profits for the fiscal year ending December 31, 2020. These estimates represent management’s current and preliminary view, which are subject to change.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 (1383200#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1383200#), 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/9877938A 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 a reliable, 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 Statements
This 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.
Third Quarter 2020 HighlightsTotal revenues were RMB170.9 million, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.Operating income was RMB86.5 million, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.Net income was RMB76.1 million, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Third Quarter 2020 Financial Results
RevenuesCIH reported total revenues of RMB170.9 million in the third quarter of 2020, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB88.8 million in the third quarter of 2020, an increase of 14.4% from RMB77.6 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB82.1 million in the third quarter of 2020, an increase of 1.7% from RMB80.7 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB29.3 million in the third quarter of 2020, which remained stable compared to RMB29.2 million in the corresponding period of 2019.Operating Expenses
Operating expenses were RMB55.2 million in the third quarter of 2020, an increase of 5.1% from RMB52.5 million in the corresponding period of 2019.Selling and marketing expenses were RMB30.3 million in the third quarter of 2020, an increase of 10.2% from RMB27.5 million in the corresponding period of 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 RMB24.9 million in the third quarter of 2020, which remained stable compared to RMB25.0 million in the corresponding period of 2019.Operating IncomeOperating income was RMB86.5 million in the third quarter of 2020, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB13.4 million in the third quarter of 2020, an increase of 21.8% from RMB11.0 million in the corresponding period of 2019.Net IncomeNet income was RMB76.1 million in the third quarter of 2020, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Business Outlook
Based on current operations and market conditions, the management remains confident to believe that the Company will maintain a double-digit growth momentum both on its annual revenue and on its net profits for the fiscal year ending December 31, 2020. These estimates represent management’s current and preliminary view, which are subject to change.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 (1383200#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1383200#), 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/9877938A 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 a reliable, 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 Statements
This 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.
