China Index Holdings Announces First Quarter 2022 Unaudited Financial Results
First Quarter 2022 Highlights
- Total revenues were
RMB118.5 million, a decrease of 11.4% from RMB133.7 millionin the corresponding period of 2021.
- Operating income was
RMB45.3 million, a decrease of 25.5% from RMB60.8 millionin the corresponding period of 2021.
- Net income was
RMB41.9 million, a decrease of 25.9% from RMB56.6 millionin the corresponding period of 2021.
First Quarter 2022 Financial Results
CIH reported total revenues of
- Revenues from information and analytics services (SaaS) were
RMB56.6 millionin the first quarter of 2022, a decrease of 11.2% from RMB63.8 millionin the corresponding period of 2021.
- Revenues from marketplace services were
RMB61.9 millionin the first quarter of 2022, a decrease of 11.6% from RMB70.0 millionin the corresponding period of 2021.
Cost of Revenues
Cost of revenues was
Operating expenses were
- Selling and marketing expenses were
RMB24.5 millionin the first quarter of 2022, a decrease of 7.4% from RMB26.5 millionin the corresponding period of 2021, primarily due to a decrease in personnel cost.
- General and administrative expenses were
RMB26.9 millionin the first quarter of 2022, an increase of 27.6% from RMB21.1 millionin the corresponding period of 2021, primarily due to an increase in bad debt expense and the accrual of professional fees.
Operating income was
Income Tax Expenses
Income tax expenses were
Net income was
Due to current unstable market conditions, management believes CIH’s 2022 annual revenue is expected to decrease approximately 10% year-to-year. These estimates represent management’s current and preliminary views, which are subject to change.
Conference Call Information
CIH’s management team will host a conference call on
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For participants who wish to join the call, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Upon registering, you will be provided with all conference call access information, including dial-in numbers, Direct Event passcode (1776643#), a unique registrant ID and an e-mail with detailed instructions to join the conference call.
Direct Event online registration: http://apac.directeventreg.com/registration/event/1728096
A telephone replay of the call will be available after the conclusion of the conference call from
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A live and archived webcast of the conference call will be available at http://ir.chinaindexholdings.com.
CIH operates a leading real estate information and analytics service platform in
Safe Harbor Statements
This 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
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, market position and continued business transformation. 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. Potential risks and uncertainties include, without limitation, the impact of the Company’s business development strategies, the Company’s ability to continue as a going concern in the future, the impact of the COVID-19 pandemic, and the impact of current and future government policies affecting China’s real estate market. Further information regarding these and other risks, uncertainties or factors is included in CIH’s filings with the
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”), except for share data)
|Cash and cash equivalents||252,842||361,521|
|Accounts receivable, net of allowance for doubtful accounts||52,514||49,217|
|Prepaid expenses and other current assets||24,543||25,531|
|Total current assets||439,454||436,269|
|Property and equipment, net||1,067||1,424|
|Right of use assets||41,915||38,892|
|Other non-current assets||4,508||4,212|
|Total non-current assets||47,490||44,528|
|LIABILITIES AND SHAREHOLDERS’ EQUITY|
|Income taxes payable||28,784||25,474|
|Amounts due to a related party||5,684||12,300|
|Accrued expenses and other current liabilities||96,891||99,657|
|Total current liabilities||318,439||365,084|
|Long-term lease liabilities||34,713||29,570|
|Other non-current liabilities||77,803||75,288|
|Total non-current liabilities||112,516||104,858|
|Class A ordinary shares (
|Class B ordinary shares (
|Accumulated other comprehensive income||16,413||14,043|
|Total shareholders’ equity attributable to
|Total shareholders’ equity||55,989||10,855|
|Total liabilities and shareholders’ equity||486,944||480,797|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands of RMB, except for per share data)
|Three Months Ended
|Cost of revenues||(21,732||)||(25,298||)|
|Selling and marketing expenses||(24,534||)||(26,502||)|
|General and administrative expenses||(26,904||)||(21,084||)|
|Income before income taxes||48,892||65,774|
|Income tax expenses||(6,990||)||(9,212||)|
|Less: net income attributable to noncontrolling interest holders||70||14|
|Net income attributable to
|Other comprehensive income (loss)|
|Foreign currency translation adjustments, net of nil income taxes||2,370||(3,975||)|
|Total comprehensive income||44,272||52,587|
|Less: comprehensive income attributable to noncontrolling interest holders||70||14|
|Comprehensive income attributable to
|Earnings per share for Class A and Class B ordinary shares:|
|Weighted average number of Class A and Class B ordinary shares and ordinary shares equivalents outstanding:|
For investor and media inquiries, please contact: Ms.
Jessie YangInvestor Relations Email: CIH-IR@fang.com
China Index Holdings Limited