UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2015
Commission File Number: 001-33616
E-HOUSE (CHINA) HOLDINGS LIMITED
Qiushi Building, 11/F
No.383 Guangyan Road, Zhabei District
Shanghai 200072
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
E-House (China) Holdings Limited | |||
|
| |||
|
| |||
|
By |
: |
/s/ Bin Laurence | |
|
Name: |
: |
Bin Laurence | |
|
Title: |
: |
Chief Financial Officer | |
Date: August 26, 2015
Exhibit 99.1
E-House Reports Second Quarter 2015 Results
SHANGHAI, China, August 25, 2015 E-House (China) Holdings Limited (E-House or the Company) (NYSE: EJ), a leading real estate services company in China, today announced its unaudited financial results for the fiscal quarter ended June 30, 2015.
Second Quarter 2015 Highlights
· Total revenues increased by 29% year-on-year to $270.5 million
· Revenues from real estate online services increased by 34% year-on-year to $157.8 million, including $117.4 million in revenues from e-commerce services, which grew by 72% year-on-year
· Revenues from primary real estate agency services increased by 35% year-on-year to $85.2 million
· Non-GAAP(1) net income attributable to E-House shareholders was $15.1 million, or $0.10 per diluted American depositary share (ADS), compared to $20.6 million or $0.14 per diluted ADS, for the same quarter of 2014
First Half 2015 Financial Highlights
· Total revenues increased by 18% year-on-year to $439.7 million
· Revenues from real estate online services increased by 28% year-on-year to $251.2 million, including $184.4 million in revenues from e-commerce services, which grew by 56% year-on-year
· Revenues from primary real estate agency services increased by 16% year-on-year to $141.9 million
· Non-GAAP net loss attributable to E-House shareholders was $3.1 million, or $0.02 loss per diluted ADS, compared to non-GAAP net income of $32.4 million, or $0.22 per diluted ADS, for the same period of 2014
Xin Zhou, E-Houses co-chairman and CEO, said, As we expected, the overall Chinese property market started to warm up since the end of March, driven in part by the governments loosened credit policies and purchasing restrictions in certain cities. Despite the recent Chinese stock market volatility, the real estate sector has stayed relatively stable so far. As a result, we are on track to achieve our overall revenue target set at the beginning of the year.
Mr. Zhou continued, We are also solidly executing our previously announced strategies for new business lines. Community value-added service app Shi Hui has now been launched in 40 cities, with a total user base of more than 6.8 million. Last month, Jupai Holdings Limited (Jupai, NYSE: JP), a leading third-party wealth management services provider in China in which E-House holds approximately 31% stake, was successfully listed in the U.S. The listing of Jupai further strengthens our growing financial services platform.
Second Quarter 2015 Results
Total revenues were $270.5 million, an increase of 29% from $210.1 million for the same quarter of 2014, primarily driven by growth of revenues from real estate online services and real estate brokerage services.
Revenues from real estate online services were $157.8 million, an increase of 34% from $117.3 million for the same quarter of 2014, mainly contributed by growth of revenues from e-commerce services. Revenues from e-commerce services were $117.4 million, an increase of 72% from $68.3 million for the same quarter of 2014, primarily due to increases in both the number of
(1) E-House uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to E-House shareholders, (4) net income (loss) attributable to E-House shareholders per basic ADS, and (5) net income (loss) attributable to E-House shareholders per diluted ADS, each of which excludes share-based compensation expense and amortization of intangible assets resulting from business acquisitions. See About Non-GAAP Financial Measures and Unaudited Reconciliation of GAAP and Non-GAAP Results below for more information about the non-GAAP financial measures included in this press release.
discount coupons redeemed and in the average price per discount coupon redeemed. Revenues from online advertising services were $35.2 million, a decrease of 21% from $44.8 million for the same quarter of 2014, primarily due to decreased online advertising demand from property developers. Revenues from listing services were $5.2 million, compared to $4.2 million for the same quarter of 2014, primarily due to growth in secondary home transactions.
Revenues from real estate brokerage services were $88.4 million, an increase of 35% from $65.5 million for the same quarter of 2014. Real estate brokerage services include primary real estate agency services and secondary real estate brokerage services. Revenues from primary real estate agency services were $85.2 million, an increase of 35% from $63.3 million for the same quarter of 2014. The increase was caused by increases in total gross floor area (GFA) of new properties sold and total transaction value of new properties sold compared to the same quarter of 2014. (See Selected Operating Data below for more details on the total GFA and transaction value of new properties sold.) Revenues from secondary real estate brokerage services were $3.2 million, an increase of 43% from $2.2 million for the same quarter of 2014, primarily due to an increase in the number of sale transactions in secondary properties.
Revenues from real estate information and consulting services were $17.1 million, a slight decrease compared to $17.9 million for the same quarter of 2014, mainly due to decreased average price of consulting contracts during the period.
Revenues from other services were $7.0 million, a decrease of 25% from $9.4 million for the same quarter of 2014. Other services include offline real estate advertising services, promotional events services, real estate fund management services and real estate financial services. The decrease in revenues from other services in the second quarter was primarily attributable to the decreased revenues in offline promotional events services.
No material revenue was generated from community value-added services in the second quarter.
Cost of revenues was $83.4 million, an increase of 15% from $72.7 million for the same quarter of 2014, primarily due to increased commission fees for primary real estate agency services in line with increased revenues, and increased staff costs of editorial department and increased amortization expenses of intangible assets for the exclusive rights in connection with real estate online services.
Selling, general and administrative (SG&A) expenses were $179.4 million, an increase of 42% from $126.3 million for the same quarter of 2014, primarily due to higher marketing expenses for real estate online services, as well as $11.1 million in expenses related to community value-added services and $1.6 million in expenses related to real estate financial services, both of which commenced in the third quarter of 2014.
Income from operations was $9.4 million, a decrease of 37% from $15.0 million for the same quarter of 2014. Non-GAAP income from operations was $18.2 million, a decrease of 23% from $23.7 million for the same quarter of 2014, mostly due to increased spending related to community value-added services and real estate financial services.
Net income was $8.1 million, a decrease of 51% from $16.4 million for the same quarter of 2014. Non-GAAP net income was $16.1 million, a decrease of 35% from $24.7 million for the same quarter of 2014.
Net income attributable to E-House shareholders was $8.8 million, or $0.06 per diluted ADS, a decrease of 35% from $13.4 million, or $0.09 per diluted ADS, for the same quarter of 2014. Non-GAAP net income attributable to E-House shareholders was $15.1 million, or $0.10 per diluted ADS, a decrease of 27% from $20.6 million, or $0.14 per diluted ADS, for the same quarter of 2014.
First Half 2015 Results
Total revenues were $439.7 million, an increase of 18% from $373.5 million for the same period of 2014, primarily driven by growth of revenues from real estate online services and real estate brokerage services.
Revenues from real estate online services were $251.2 million, an increase of 28% from $195.8 million for the same period of 2014, contributed by growth of revenues from e-commerce services. Revenues from e-commerce services were $184.4 million, an increase of 56% from $118.0 million for the same period of 2014, primarily due to an increase in the average price per discount coupon redeemed. Revenues from online advertising services were $57.8 million, a decrease of 17% from $69.4 million for the same period of 2014, primarily due to decreased online advertising demand from property developers. Revenues from listing services were $9.0 million, an increase of 8% from $8.4 million for the same period of 2014, primarily due to volume growth in secondary home sales.
Revenues from real estate brokerage services were $147.2 million, an increase of 16% from $126.6 million for the same period of 2014. Revenues from primary real estate agency services were $141.9 million, an increase of 16% from $122.6 million for the same period of 2014, due to increases in total GFA and transaction value of new properties sold during the first half of 2015. Revenues from secondary real estate brokerage services were $5.3 million, an increase of 31% from $4.0 million for the same period of 2014, due to an increase in the number of sale transactions in secondary properties.
Revenues from real estate information and consulting services were $30.2 million, a decrease of 15% from $35.6 million for the same period of 2014, mostly due to a decreased number of customized data reports due to lower real estate investment levels, and a decreased average price of consulting contracts.
Revenues from other services were $10.8 million, a decrease of 30% from $15.5 million for the same period of 2014, primarily due to a decrease in revenues from offline promotional events services.
No material revenue was generated from community value-added services in the first half of 2015.
Cost of revenues was $149.6 million, an increase of 14% from $131.7 million for the same period of 2014, due to increased staff costs associated with primary real estate agency services and real estate online services, increased commission fees and project consulting fees for primary real estate agency services in line with increased revenues, and increased amortization expenses of intangible assets for the exclusive rights in connection with real estate online services.
SG&A expenses were $319.2 million, an increase of 38% from $231.2 million for the same period of 2014, primarily due to an increase in marketing expenses for real estate online services, as well as $18.9 million in expenses related to community value-added services and $2.2 million in expenses related to real estate financial services, both of which commenced in the third quarter of 2014.
Loss from operations was $27.2 million, compared to income from operations of $15.0 million for the same period of 2014. Non-GAAP loss from operations was $8.7 million, compared to non-GAAP income from operations of $33.8 million for the same period of 2014.
Net loss was $22.3 million, compared to net income of $17.7 million for the same period of 2014. Non-GAAP net loss was $5.5 million, compared to non-GAAP net income of $34.9 million for the same period of 2014.
Net loss attributable to E-House shareholders was $16.4 million, or $0.11 loss per diluted ADS, compared to net income attributable to E-House shareholders of $16.3 million, or $0.11 per diluted ADS, for the same period of 2014. Non-GAAP net loss attributable to E-House shareholders was $3.1 million, or $0.02 loss per diluted ADS, compared to non-GAAP net income attributable to E-House shareholders of $32.4 million, or $0.22 per diluted ADS, for the same period of 2014.
Cash Flow
As of June 30, 2015, the Companys cash and cash equivalents balance was $438.5 million.
Second quarter 2015 net cash used in operating activities was $16.1 million, mainly attributable to an increase in accounts receivable of $43.2 million and an increase in customer deposits of $2.5 million, partially offset by non-GAAP net income of $16.1 million, as well as an increase in accrued payroll and welfare of $13.8 million. Net cash used in investing activities was $20.0 million, mainly due to a $14.3 million addition to property and equipment related to new office spaces as well as intangible assets, and a $6.2 million payment for a business acquisition. Net cash provided by financing activities was $14.4 million, mainly comprised of $29.5 million capital contribution from non-controlling interest shareholders of community value-added services and $16.3 million cash received from a short-term borrowing, partially offset by $21.4 million in dividends paid to shareholders, $8.1 million in dividends paid to non-E-House shareholders of the Companys subsidiary, Leju Holdings Limited (NYSE: LEJU), and $2.9 million remaining payment for the 2014 acquisition of non-controlling interests in the Companys online business.
Business Outlook
The Company maintains its fiscal year 2015 total revenues guidance of approximately $1.05 billion to $1.10 billion, which would represent an increase of approximately 16% to 22% from $904.5 million in 2014. This forecast reflects the Companys current and preliminary view, which is subject to change.
Conference Call Information
E-Houses management will host an earnings conference call on August 25, 2015 at 8:15 a.m. U.S. Eastern Time (8:15 p.m. Beijing/Hong Kong time).
Dial-in details for the earnings conference call are as follows:
U.S./International: |
+1-845-675-0437 |
Hong Kong: |
+852-3018-6771 |
Mainland China: |
+86-800-819-0121 |
Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is E-House earnings call.
A replay of the conference call may be accessed by phone at the following number until September 2, 2015:
U.S./International: +1-646-254-3697
Hong Kong: +852-3051-2780
Mainland China: +86-800-870-0205
Passcode: 9704345
Additionally, a live and archived webcast will be available at http://ir.ehousechina.com.
About E-House
E-House (China) Holdings Limited (E-House) (NYSE: EJ) is Chinas leading real estate services company with a nationwide network covering more than 260 cities. E-House offers a wide range of services to the real estate industry, including real estate online services through our 70%-owned subsidiary, Leju Holdings Limited (NYSE: LEJU), primary sales agency, secondary brokerage, information and consulting, offline advertising and promotion, real estate investment management and financial services, and mobile community value-added services. E-House has received numerous awards for its innovative and high-quality services, including Chinas Best Company from the National Association of Real Estate Brokerage and Appraisal Companies and
China Enterprises with the Best Potential from Forbes. For more information about E-House, please visit http://www.ehousechina.com.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, may, intend, confident, is currently reviewing, it is possible, subject to and similar statements. Among other things, the Business Outlook section and quotations from management in this press release, as well as E-Houses strategic and operational plans, contain forward-looking statements. E-House may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, including Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about E-Houses beliefs and expectations, are forward-looking statements and are subject to change. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this press release. Potential risks and uncertainties include, but are not limited to, a severe or prolonged downturn in the global economy, E-Houses susceptibility to fluctuations in the real estate market of China, government measures aimed at Chinas real estate industry, failure of the real estate services industry in China to develop or mature as quickly as expected, diminution of the value of E-Houses brand or image, E-Houses inability to successfully execute its strategy of expanding into new geographical markets in China, E-Houses failure to manage its growth effectively and efficiently, E-Houses failure to successfully execute the business plans for its strategic alliances and other new business initiatives, E-Houses loss of its competitive advantage if it fails to maintain and improve its proprietary CRIC system or to prevent disruptions or failure in the systems performance, E-Houses failure to compete successfully, fluctuations in E-Houses results of operations and cash flows, E-Houses reliance on a concentrated number of real estate developers, natural disasters or outbreaks of health epidemics and other risks outlined in E-Houses filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of this press release, and E-House does not undertake any obligation to update any such information, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement E-Houses consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (GAAP), E-House uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to E-House shareholders, (4) net income (loss) attributable to E-House shareholders per basic ADS, and (5) net income (loss) attributable to E-House shareholders per diluted ADS, each of which excludes share-based compensation expense and amortization of intangible assets resulting from business acquisitions. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned Unaudited Reconciliation of GAAP and Non-GAAP Results set forth at the end of this press release.
E-House believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding its operating performance by excluding share-based compensation expense and amortization of intangible assets resulting from business acquisitions, , which may not be indicative of E-Houses operating performance. These non-GAAP financial measures also facilitate managements internal comparisons to E-Houses historical performance and assist its financial and operational decision making. A limitation of using these non-GAAP financial measures is that share-based compensation expense and amortization of intangible assets resulting from business acquisitions that may continue to exist in E-Houses business for the foreseeable future. Management compensates for these limitations by providing specific
information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures.
For investor and media inquiries please contact:
Investor Relations Department
E-House (China) Holdings Limited
Phone: +86 (21) 6133-0809
E-mail: ir@ehousechina.com
Mr. Derek Mitchell
Ogilvy Financial
In the U.S.: +1 (646) 867-1888
In China: +86 (10) 8520-6139
E-mail: ej@ogilvy.com
E-HOUSE (CHINA) HOLDINGS LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
|
|
December 31, |
|
June 30, |
|
|
|
2014 |
|
2015 |
|
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
|
630,617 |
|
438,544 |
|
Restricted cash |
|
40,402 |
|
42,321 |
|
Customer deposits, net |
|
92,797 |
|
118,953 |
|
Accounts receivable, net |
|
415,150 |
|
446,520 |
|
Advance payment for properties, current |
|
51,983 |
|
14,689 |
|
Properties held for sale |
|
34,842 |
|
31,958 |
|
Deferred tax assets, net |
|
64,805 |
|
64,863 |
|
Prepaid expenses and other current assets |
|
39,339 |
|
53,693 |
|
Amounts due from related parties |
|
6,094 |
|
1,945 |
|
Total current assets |
|
1,376,029 |
|
1,213,486 |
|
Property and equipment, net |
|
49,109 |
|
124,759 |
|
Intangible assets, net |
|
120,381 |
|
124,761 |
|
Investment in affiliates |
|
51,681 |
|
54,669 |
|
Goodwill |
|
51,540 |
|
64,259 |
|
Customer deposits, non-current, net |
|
797 |
|
618 |
|
Investment in preferred shares of a private entity |
|
39,485 |
|
64,592 |
|
Restricted cash, non-current |
|
|
|
34,186 |
|
Other non-current assets |
|
87,902 |
|
113,083 |
|
Total assets |
|
1,776,924 |
|
1,794,413 |
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Short-term borrowings |
|
35,954 |
|
52,342 |
|
Accounts payable |
|
8,261 |
|
4,603 |
|
Accrued payroll and welfare expenses |
|
116,577 |
|
105,842 |
|
Income tax payable |
|
117,594 |
|
103,358 |
|
Other tax payable |
|
49,390 |
|
49,860 |
|
Amounts due to related parties |
|
7,356 |
|
7,755 |
|
Advance from property buyers |
|
2,261 |
|
7,641 |
|
Dividend payables |
|
12,902 |
|
|
|
Advance from customers and deferred revenue |
|
19,013 |
|
19,599 |
|
Liability for exclusive rights, current |
|
|
|
8,179 |
|
Other current liabilities |
|
85,837 |
|
65,392 |
|
Total current liabilities |
|
455,145 |
|
424,571 |
|
Deferred tax liabilities |
|
28,203 |
|
29,605 |
|
Convertible senior notes |
|
132,752 |
|
133,309 |
|
Other non-current liabilities |
|
658 |
|
30,537 |
|
Total liabilities |
|
616,758 |
|
618,022 |
|
Equity |
|
|
|
|
|
Ordinary shares ($0.001 par value): 1,000,000,000 and 1,000,000,000 shares authorized, 142,123,368 and 142,598,380 shares issued and outstanding, as of December 31, 2014 and June 30, 2015, respectively |
|
142 |
|
143 |
|
Additional paid-in capital |
|
991,646 |
|
975,343 |
|
Subscription receivables |
|
(196 |
) |
|
|
Accumulated deficit |
|
(67,703 |
) |
(84,070 |
) |
Accumulated other comprehensive income |
|
83,901 |
|
109,396 |
|
Total E-House equity |
|
1,007,790 |
|
1,000,812 |
|
Non-controlling interests |
|
152,376 |
|
175,579 |
|
Total equity |
|
1,160,166 |
|
1,176,391 |
|
TOTAL LIABILITIES AND EQUITY |
|
1,776,924 |
|
1,794,413 |
|
E-HOUSE (CHINA) HOLDINGS LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of U.S. dollars, except share data and per share data)
|
|
Three months ended |
|
Six months ended |
| ||||
|
|
June 30, |
|
June 30, |
| ||||
|
|
2014 |
|
2015 |
|
2014 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
210,145 |
|
270,538 |
|
373,456 |
|
439,683 |
|
Cost of revenues |
|
(72,705 |
) |
(83,396 |
) |
(131,728 |
) |
(149,596 |
) |
Selling, general and administrative expenses |
|
(126,264 |
) |
(179,387 |
) |
(231,185 |
) |
(319,240 |
) |
Other operating income |
|
3,789 |
|
1,631 |
|
4,460 |
|
1,931 |
|
Income (loss) from operations |
|
14,965 |
|
9,386 |
|
15,003 |
|
(27,222 |
) |
|
|
|
|
|
|
|
|
|
|
Interest expenses |
|
(1,319 |
) |
(2,486 |
) |
(2,665 |
) |
(4,792 |
) |
Interest income |
|
640 |
|
1,160 |
|
1,375 |
|
2,426 |
|
Other income, net |
|
2,938 |
|
371 |
|
3,063 |
|
1,087 |
|
Income (loss) before taxes and equity in affiliates |
|
17,224 |
|
8,431 |
|
16,776 |
|
(28,501 |
) |
Income tax benefit (expense) |
|
(2,340 |
) |
(2,005 |
) |
(2,247 |
) |
4,838 |
|
Income (loss) before equity in affiliates |
|
14,884 |
|
6,426 |
|
14,529 |
|
(23,663 |
) |
Income from equity in affiliates |
|
1,554 |
|
1,661 |
|
3,129 |
|
1,325 |
|
Net income (loss) |
|
16,438 |
|
8,087 |
|
17,658 |
|
(22,338 |
) |
|
|
|
|
|
|
|
|
|
|
Less: net income (loss) attributable to non-controlling interests |
|
3,024 |
|
(684 |
) |
1,342 |
|
(5,972 |
) |
Net income (loss) attributable to E-House shareholders |
|
13,414 |
|
8,771 |
|
16,316 |
|
(16,366 |
) |
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
Basic |
|
0.10 |
|
0.06 |
|
0.12 |
|
(0.11 |
) |
Diluted |
|
0.09 |
|
0.06 |
|
0.11 |
|
(0.11 |
) |
Shares used in computation: |
|
|
|
|
|
|
|
|
|
Basic |
|
138,163,946 |
|
142,567,653 |
|
138,021,900 |
|
142,393,616 |
|
Diluted |
|
145,613,580 |
|
145,587,148 |
|
146,539,322 |
|
142,393,616 |
|
Note 1 |
|
The conversion of Renminbi (RMB) amounts into USD amounts is based on the rate of USD1 = RMB6.1136 on June 30, 2015 and USD1 = RMB6.1223 for the three months ended June 30, 2015 |
E-HOUSE (CHINA) HOLDINGS LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands of U.S. dollars)
|
|
Three months ended |
|
Six months ended |
| ||||
|
|
June 30, |
|
June 30, |
| ||||
|
|
2014 |
|
2015 |
|
2014 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
16,438 |
|
8,087 |
|
17,658 |
|
(22,338 |
) |
Other comprehensive income (loss), net of tax of nil: |
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
(44 |
) |
3,537 |
|
(5,741 |
) |
746 |
|
Unrealized holding gains for investment in preferred shares of a private entity |
|
|
|
23,411 |
|
|
|
25,107 |
|
Comprehensive income |
|
16,394 |
|
35,035 |
|
11,917 |
|
3,515 |
|
|
|
|
|
|
|
|
|
|
|
Less: Comprehensive income (loss) attributable to non-controlling interests |
|
3,051 |
|
(390 |
) |
1,049 |
|
(5,914 |
) |
Comprehensive income attributable to E-House shareholders |
|
13,343 |
|
35,425 |
|
10,868 |
|
9,429 |
|
E-HOUSE (CHINA) HOLDINGS LIMITED
Unaudited Reconciliation of GAAP and Non-GAAP Results
(In thousands of U.S. dollars, except share data and per ADS data)
|
|
Three months ended |
|
Six months ended |
| ||||
|
|
June 30, |
|
June 30, |
| ||||
|
|
2014 |
|
2015 |
|
2014 |
|
2015 |
|
|
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
GAAP income (loss) from operations |
|
14,965 |
|
9,386 |
|
15,003 |
|
(27,222 |
) |
Share-based compensation expense |
|
5,335 |
|
5,432 |
|
10,450 |
|
11,764 |
|
Amortization of intangible assets resulting from business acquisitions |
|
3,448 |
|
3,374 |
|
8,371 |
|
6,724 |
|
Non-GAAP income (loss) from operations |
|
23,748 |
|
18,192 |
|
33,824 |
|
(8,734 |
) |
|
|
|
|
|
|
|
|
|
|
GAAP net income (loss) |
|
16,438 |
|
8,087 |
|
17,658 |
|
(22,338 |
) |
Share-based compensation expense (net of tax) |
|
5,335 |
|
5,432 |
|
10,450 |
|
11,764 |
|
Amortization of intangible assets resulting from business acquisitions (net of tax) |
|
2,894 |
|
2,531 |
|
6,813 |
|
5,043 |
|
Non-GAAP net income (loss) |
|
24,667 |
|
16,050 |
|
34,921 |
|
(5,531 |
) |
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to E-House shareholders |
|
13,414 |
|
8,771 |
|
16,316 |
|
(16,366 |
) |
Share-based compensation expense (net of tax and non-controlling interests) |
|
4,923 |
|
4,543 |
|
10,038 |
|
9,676 |
|
Amortization of intangible assets resulting from business acquisitions (net of tax and non-controlling interests) |
|
2,237 |
|
1,782 |
|
6,084 |
|
3,561 |
|
Non-GAAP net income (loss) attributable to E-House shareholders |
|
20,574 |
|
15,096 |
|
32,438 |
|
(3,129 |
) |
|
|
|
|
|
|
|
|
|
|
GAAP earnings (loss) per ADS basic |
|
0.10 |
|
0.06 |
|
0.12 |
|
(0.11 |
) |
|
|
|
|
|
|
|
|
|
|
GAAP earnings (loss) per ADS diluted |
|
0.09 |
|
0.06 |
|
0.11 |
|
(0.11 |
) |
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings (loss) per ADS basic |
|
0.15 |
|
0.11 |
|
0.24 |
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings (loss) per ADS diluted |
|
0.14 |
|
0.10 |
|
0.22 |
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
Shares used in calculating basic GAAP / non-GAAP net income (loss) attributable to shareholders per ADS |
|
138,163,946 |
|
142,567,653 |
|
138,021,900 |
|
142,393,616 |
|
|
|
|
|
|
|
|
|
|
|
Shares used in calculating diluted GAAP / non-GAAP net income (loss) attributable to shareholders per ADS |
|
145,613,580 |
|
145,587,148 |
|
146,539,322 |
|
142,393,616 |
|
E-HOUSE (CHINA) HOLDINGS LIMITED
SELECTED OPERATING DATA
|
|
Three months ended |
|
Six months ended |
| ||||
|
|
June 30, |
|
June 30, |
| ||||
|
|
2014 |
|
2015 |
|
2014 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
Primary real estate agency services |
|
|
|
|
|
|
|
|
|
Total Gross Floor Area (GFA) of new properties sold (thousands of square meters) |
|
5,361 |
|
6,630 |
|
9,833 |
|
11,049 |
|
Total value of new properties sold (millions of RMB) |
|
46,755 |
|
66,447 |
|
88,629 |
|
104,295 |
|
Total value of new properties sold (millions of $) |
|
7,628 |
|
10,884 |
|
14,471 |
|
17,052 |
|
|
|
|
|
|
|
|
|
|
|
E-commerce services |
|
|
|
|
|
|
|
|
|
Number of discount coupons issued to prospective purchasers (number of transactions) |
|
89,524 |
|
94,489 |
|
137,964 |
|
135,254 |
|
Number of discount coupons redeemed (number of transactions) |
|
49,724 |
|
52,413 |
|
83,596 |
|
84,524 |
|