SHANGHAI, Aug. 25, 2015 /PRNewswire-FirstCall/ -- 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
[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.
|
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-House's 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
government's 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 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 Company's
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 Company's
subsidiary, Leju Holdings Limited (NYSE: LEJU), and $2.9 million remaining payment for the 2014
acquisition of non-controlling interests in the Company's 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 Company's
current and preliminary view, which is subject to change.
Conference Call Information
E-House's 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 China's 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 "China's 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-House's 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-House's 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-House's susceptibility to fluctuations in the real
estate market of China, government
measures aimed at China's 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-House's brand or
image, E-House's inability to successfully execute its strategy of
expanding into new geographical markets in China, E-House's failure to manage its growth
effectively and efficiently, E-House's failure to successfully
execute the business plans for its strategic alliances and other
new business initiatives, E-House's loss of its competitive
advantage if it fails to maintain and improve its proprietary CRIC
system or to prevent disruptions or failure in the system's
performance, E-House's failure to compete successfully,
fluctuations in E-House's results of operations and cash flows,
E-House's reliance on a concentrated number of real estate
developers, natural disasters or outbreaks of health epidemics and
other risks outlined in E-House's 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-House's 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-House's operating
performance. These non-GAAP financial measures also facilitate
management's internal comparisons to E-House's 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-House's 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
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/e-house-reports-second-quarter-2015-results-300132780.html
SOURCE E-House (China) Holdings
Limited