BEIJING, Aug. 10, 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 second quarter ended June 30, 2020.Total revenues were RMB150.2 million, an increase of 12.1% from RMB134.0 million in the corresponding period of 2019.Operating income was RMB68.4 million, an increase of 12.5% from RMB60.8 million in the corresponding period of 2019.Net income was RMB62.3 million, an increase of 21.1% from RMB51.4 million in the corresponding period of 2019.First Half 2020 HighlightsTotal revenues were RMB283.0 million, an increase of 11.8% from RMB253.1 million in the corresponding period of 2019.Operating income was RMB137.9 million, an increase of 11.1% from RMB124.1 million in the corresponding period of 2019.Net income was RMB126.2 million, an increase of 20.5% from RMB104.7 million in the corresponding period of 2019.“We are happy to deliver another solid quarter even under pandemic uncertainties,” commented Yu Huang, CEO of CIH, “We will further increase our investment in R&D to enrich our database and analytics for future growth.”CIH reported total revenues of RMB150.2 million in the second quarter of 2020, an increase of 12.1% from RMB134.0 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB67.6 million in the second quarter of 2020, an increase of 17.8% from RMB57.4 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB82.6 million in the second quarter of 2020, an increase of 7.9% from RMB76.6 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB23.4 million in the second quarter of 2020, a decrease of 4.8% from RMB24.6 million in the corresponding period of 2019, primarily due to a decrease in campaign cost.Operating Expenses
Operating expenses were RMB58.4 million in the second quarter of 2020, an increase of 20.2% from RMB48.6 million in the corresponding period of 2019.Selling and marketing expenses were RMB32.3 million in the second quarter of 2020, an increase of 35.1% from RMB23.9 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 RMB26.1 million in the second quarter of 2020, an increase of 5.7% from RMB24.7 million in the corresponding period of 2019, primarily due to increase in personnel costs of research and development department.Operating IncomeOperating income was RMB68.4 million in the second quarter of 2020, an increase of 12.5% from RMB60.8 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB9.6 million in the second quarter of 2020, an increase of 15.7% from RMB8.3 million in the corresponding period of 2019.Net IncomeNet income was RMB62.3 million in the second quarter of 2020, an increase of 21.1% from RMB51.4 million in the corresponding period of 2019.First Half 2020 Financial Results
RevenuesCIH reported total revenues of RMB283.0 million in the first half of 2020, an increase of 11.8% from RMB253.1 million in the corresponding period of 2019.Revenues from information and analytics services (SaaS) were RMB128.9 million in the first half of 2020, an increase of 12.9% from RMB114.2 million in the corresponding period of 2019, primarily due to an increase in number of customers.Revenues from marketplace services were RMB154.1 million in the first half of 2020, an increase of 10.9% from RMB138.9 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB42.9 million in the first half of 2020, a decrease of 9.5% from RMB47.4 million in the corresponding period of 2019, primarily due to a decrease in campaign cost.Operating Expenses
Operating expenses were RMB102.2 million in the first half of 2020, an increase of 25.1% from RMB81.7 million in the corresponding period of 2019.Selling and marketing expenses were RMB56.2 million in the first half of 2020, an increase of 24.3% from RMB45.2 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 RMB46.0 million in the first half of 2020, an increase of 26.4% from RMB36.4 million in the corresponding period of 2019, primarily due to increase in personnel costs of research and development department.Operating IncomeOperating income was RMB137.9 million in the first half of 2020, an increase of 11.1% from RMB124.1 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB20.6 million in the first half of 2020, an increase of 12.0% from RMB18.4 million in the corresponding period of 2019.Net IncomeNet income was RMB126.2 million in the first half of 2020, an increase of 20.5% from RMB104.7 million in the corresponding period of 2019.Business OutlookBased on current operations and market conditions, the management believes that the Company will maintain a double-digit growth momentum on its annual revenue for 2020. These estimates represent management’s current and preliminary view, which are subject to change.Conference Call Information
CIH’s management team will host a conference call on August 10, 2020 at 8:00 AM U.S. ET (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are: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 (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), and your unique Registrant ID, followed by the pound or hash (#) sign to join the call.A 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 an authoritative, 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 StatementsThis 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.These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions, and include, without limitation, statements regarding CIH’s future financial performance, revenue guidance, growth and growth rates and market position. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond CIH’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in CIH’s filings with the U.S. Securities and Exchange Commission. CIH does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”), except for share data)
CHINA INDEX HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands of RMB, except for per share data)
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