XML 23 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Operating activities:      
Net income $ 48,675,814 $ 117,382,323 $ 39,487,644
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 26,388,643 10,162,437 4,114,761
Gain from settlement of pre-existing relationship   (2,100,832)  
Income from equity in affiliates 278,662 (22,128,235) (153,700)
Allowance for doubtful accounts 5,739,736 13,937,173 2,583,853
Share-based compensation 27,005,773 11,920,554 4,601,498
Others (2,192,308) 1,030,759 237,895
Changes in operating assets and liabilities:      
Restricted cash 1,071,118 (6,852,856) 1,887,622
Customer deposits (50,618,840) 32,813,578 56,359,296
Accounts receivable (26,971,714) (37,823,690) (57,191,210)
Marketable securities (15,884,428) 8,096,038 (8,096,038)
Amounts due from related parties 1,022,856 731,809 2,024,914
Prepaid expenses and other current assets 1,968,890 5,752,434 (5,610,975)
Other non-current assets (1,591,264) 3,180,863 2,308,366
Accounts payable (1,906,219) (4,188,599) (155,316)
Accrued payroll and welfare expenses 6,580,711 19,538,868 (1,108,809)
Income tax payable 3,974,621 20,534,956 (325,654)
Other tax payable 2,790,434 5,434,026 1,076,658
Amounts due to related parties 4,367,157 (146,075) (1,475,685)
Deposits payable   (39,212,152) 39,212,152
Other current liabilities 10,792,123 1,473,279 315,506
Other non-current liabilities 44,146 (502,102)  
Deferred taxes (8,518,614) (9,933,315) (2,119,638)
Net cash provided by operating activities 32,459,973 129,101,241 77,973,140
Investing activities:      
Deposit for and purchase of property and equipment and intangible assets (10,551,323) (6,315,343) (5,136,016)
Advance payment for properties (1,642,576)   (15,620,751)
Purchase of subsidiaries, net of cash acquired 563,211 3,243,113 (2,399,326)
Deposit for acquisition (4,529,880)   (1,594,823)
Investment in affiliates (9,878,053) (329,468) (2,500,000)
Proceeds from sale of properties held for sale 7,051,619 5,080,606 749,999
Proceeds from disposal of property and equipment 100,775 233,968 46,193
Net cash provided by (used in) investing activities (18,886,227) 1,912,876 (26,454,724)
Financing activities:      
Net proceeds from short-term borrowings     42,482,100
Acquisition of non-controlling interest (12,868,370) (37,290,289) (65,999)
Repayment of short-term borrowings   (21,947,100) (27,380,000)
Restricted cash-pledged accounts   22,727,280 (22,727,280)
Advance from a related party   1,050,000  
Contribution from non-controlling interest 4,115,358 1,175,244  
Proceeds from exercise of options 3,013,599 2,754,106  
Proceeds from issuance of ordinary shares, net of paid issuance costs for 2008 of $4,488,986     97,505,014
Proceeds from issuance of ordinary shares of CRIC upon initial public offering, net of paid issuance costs of $23,548,949   224,851,051  
Payment of E-House's offering costs   (74,629) (220,804)
Repurchase of shares   (2,016,499) (19,208,685)
Dividends (20,081,057)    
Dividends to non-controlling interest (1,231,562)   (346,937)
Loans from non-controlling interest 1,205,000    
Net cash provided by (used in) financing activities (25,847,032) 191,229,164 70,037,409
Effect of exchange rate changes on cash and cash equivalents 8,029,035 155,279 2,959,952
Net increase (decrease) in cash and cash equivalents (4,244,251) 322,398,560 124,515,777
Cash and cash equivalents at the beginning of the year 548,061,884 225,663,324 101,147,547
Cash and cash equivalents at the end of the year 543,817,633 548,061,884 225,663,324
Supplemental disclosure of cash flow information:      
Interest paid   252,481 2,396,514
Income taxes paid 22,467,285 9,398,214 12,466,793
Non-cash investing and financing activities:      
Properties held for sale obtained in settlement of accounts receivable 2,091,056 3,471,273 183,839
Advance payment for properties held for sale in connection with settlement of accounts receivable     1,098,721
Issuance of ordinary shares in connection with business acquisition   572,000,004  
Offering cost to be paid   146,451 235,728
Replacement of share option due to acquisition   14,960,796  
Capitalization of costs for repurchase of shares - other current liabilities     142,414
Non-controlling interest recognized in connection with business acquisition $ 1,648,336 $ 85,536