BEIJING, Nov. 11, 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 third quarter ended September 30, 2020. 

Third Quarter 2020 Highlights

• Total revenues were RMB170.9 million, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.
  
  
• Operating income was RMB86.5 million, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.
  
  
• Net income was RMB76.1 million, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.

Third Quarter 2020 Financial Results

Revenues

CIH reported total revenues of RMB170.9 million in the third quarter of 2020, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019.

• Revenues from information and analytics services (SaaS) were RMB88.8 million in the third quarter of 2020, an increase of 14.4% from RMB77.6 million in the corresponding period of 2019, primarily due to an increase in number of customers.
  
  
• Revenues from marketplace services were RMB82.1 million in the third quarter of 2020, an increase of 1.7% from RMB80.7 million in the corresponding period of 2019.

Cost of Revenue

Cost of revenue was RMB29.3 million in the third quarter of 2020, which remained stable compared to RMB29.2 million in the corresponding period of 2019.

Operating Expenses

Operating expenses were RMB55.2 million in the third quarter of 2020, an increase of 5.1% from RMB52.5 million in the corresponding period of 2019.

• Selling and marketing expenses were RMB30.3 million in the third quarter of 2020, an increase of 10.2% from RMB27.5 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 RMB24.9 million in the third quarter of 2020, which remained stable compared to RMB25.0 million in the corresponding period of 2019.

Operating Income

Operating income was RMB86.5 million in the third quarter of 2020, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.

Income Tax Expenses

Income tax expenses were RMB13.4 million in the third quarter of 2020, an increase of 21.8% from RMB11.0 million in the corresponding period of 2019.

Net Income

Net income was RMB76.1 million in the third quarter of 2020, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.

Business Outlook

Based on current operations and market conditions, the management remains confident to believe that the Company will maintain a double-digit growth momentum both on its annual revenue and on its net profits for the fiscal year ending December 31, 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 November 11, 2020 at 7:00 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 (1383200#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1383200#), and your unique Registrant ID, followed by the pound or hash sign (#) to join the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/9877938

A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on November 11, 2020 through 07:59 AM ET November 19, 2020. The dial-in details for the telephone replay are:

A live and archived webcast of the conference call will be available at http://ir.chinaindexholdings.com.

About CIH

CIH 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 a reliable, 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 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 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.

For investor and media inquiries, please contact:

Ms. Jessie Yang
Investor Relations
Email: CIH-IR@fang.com

Source: China Index Holdings Limited