China Index Holdings' Q1 financial results: Total rev. $17 M, an increase of 35.2% from 2018

China Index Holdings Limited (CIH), one of the largest real estate information and analytics service platform provider in China*, has announced its unaudited financial results** for the first quarter ended March 31, 2019.

First Quarter 2019 Highlights

• Total revenues were RMB119.1 million (USD17 million), an increase of 35.2% from RMB88.2 million (USD12 million) in the corresponding period of 2018.
• Operating income was RMB63.3 million (USD2 million), an increase of 56.0% from RMB40.6 million (USD5.9 million) in the corresponding period of 2018.
• Net income was RMB53.2 million (USD7.7 million), an increase of 46.9% from RMB36.2 million (USD5 million) in the corresponding period of 2018.

"There is a huge potential in digitizing China's property market, " commented Yu Huang, CEO of CIH. "As the pioneer in the digital world of China's property market, CIH is taking the advantage of the first mover and positioned to keep its leadership in empowering China's property market, especially commercial property market, by big data and innovative technologies."

First Quarter 2019 Financial Results

Revenues

CIH reported total revenues of RMB119.1 million (USD17 million) in the first quarter of 2019, an increase of 35.2% from RMB88.2 million (USD12 million) in the corresponding period of 2018.

Revenues from information and analytics services (SaaS) were RMB56.8 million (USD8 million) in the first quarter of 2019, an increase of 18.1% from RMB48.1 million (USD7 million) in the corresponding period of 2018, primarily due to an increase in number of customers.

Revenues from marketplace services were RMB62.3 million (USD9 million) in the first quarter of 2019, an increase of 55.7% from RMB40.1 million (USD5.8 million) in the corresponding period of 2018.

• Revenue from promotion services was RMB49.1 million (USD7 million) in the first quarter of 2019, an increase of 30.3% from RMB37.7 million (USD5 million) in the corresponding period of 2018, primarily due to an increase in the number of customers.
• Revenue from listing services was RMB13.2 million (USD1.9 million) in the first quarter of 2019, an increase of 462.5% from RMB2.4 million (USD300,000) in the corresponding period of 2018, primarily due to an increase in the number of customers.

Cost of Revenue

Cost of revenue was RMB22.8 million in the first quarter of 2019, an increase of 1.4% from RMB22.5 million in the corresponding period of 2018.

Operating Expenses

Selling and marketing expenses were RMB21.3 million (USD3 million)  in the first quarter of 2019, an increase of 35.4% from RMB15.7 million (USD2 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 RMB6.2 million (USD900,000) in the first quarter of 2019, an increase of 12.9% from RMB5.5 million (USD800,000) in the corresponding period of 2018, primarily due to an increase in personnel costs to support our business expansion.

Research and development expenses were RMB5.5 million (USD800,000) in the first quarter of 2019, an increase of 43.0% from RMB3.9 million (USD500,000) in the corresponding period of 2018, primarily due to an increase in staff costs driven by the growth of the research and development team.

Operating Income

Operating Income was RMB63.3 million (USD2 million) in the first quarter of 2019, an increase of 56.0% from RMB40.6 million (USD5.9 million) in the corresponding period of 2018.

Income Tax Expenses

Income tax expenses were RMB10.2 million (USD1 million) in the first quarter of 2019, an increase of 54.6% from RMB6.6 million (USD900,000) in the corresponding period of 2018.

Net Income

Net income was RMB53.2 million (USD7.7 million) in the first quarter of 2019, an increase of 46.9% from RMB36.2 million (USD5 million) in the corresponding period of 2018.

^{* 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}

^{**The financial results have been prepared on a stand-alone basis and are derived from the consolidated financial results and underlying accounting records of Fang Holdings Limited ("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}

SOURCE China Index Holdings Limited

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