UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2020

 

Commission File Number: 001-38917

 

CHINA INDEX HOLDINGS LIMITED

(Exact name of registrant as specified in its charter)

 

Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

The People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x  Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

o

 

 

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

CHINA INDEX HOLDINGS LIMITED

 

 

 

Date: August 11, 2020

By:

/s/ Yu Huang

 

Name:

Yu Huang

 

Title:

Chief Executive Officer and President

 

2


 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

Exhibit 99.1

 

Press Release dated August 10, 2020

 

3


Exhibit 99.1

 

China Index Holdings Announces Second Quarter 2020 Unaudited Financial Results

 

BEIJING, August 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.

 

Second Quarter 2020 Highlights

 

·                     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 Highlights

 

·                      Total 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.”

 

Second Quarter 2020 Financial Results

 

Revenues

 

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 Revenue

 

Cost 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 RMB32.3million 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 Income

 

Operating 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 Expenses

 

Income 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 Income

 

Net 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

 

Revenues

 

CIH 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 Revenue

 

Cost 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 Income

 

Operating 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 Expenses

 

Income 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 Income

 

Net 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 Outlook

 

Based 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:

 

International Toll:

 

+65 67135600

Toll-Free/Local Toll:

 

 

United States

 

+1 877-440-9253 / +1 631-460-7472

Hong Kong

 

+852 800-906-603 / +852 3018-6773

Mainland China

 

+86 800-870-0075 / +86 400-120-0948

Direct Event Passcode

 

1578624#

 

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.

 

Direct Event online registration:

http://apac.directeventreg.com/registration/event/9794027

 

A telephone replay of the call will be available after the conclusion of the conference call from 11:00 AM ET on August 10, 2020 through 09:59 AM ET August 18, 2020. The dial-in details for the telephone replay are:

 

International Toll:

 

+61 2-8199-0299

Toll-Free/Local Toll:

 

 

United States

 

+1 855-452-5696 / +1 646-254-3697

Hong Kong

 

+852 800-963-117 / +852 3051-2780

Mainland China

 

+86 400-602-2065 / +86 800-870-0206

Conference ID:

 

9794027

 

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 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 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

 


 

CHINA INDEX HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi (“RMB”), except for share data)

 

 

 

As of June 30,

 

As of December 31,

 

 

 

2020 

 

2019

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

 

239,378

 

214,076

 

Short-term investments

 

262,085

 

125,000

 

Accounts receivable, net of allowance for doubtful accounts

 

22,005

 

24,243

 

Prepaid expenses and other current assets

 

2,572

 

4,566

 

Amounts due from related parties

 

14,667

 

4,820

 

Total current assets

 

540,707

 

372,705

 

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

2,360

 

2,873

 

Right of use assets

 

46,982

 

49,595

 

Total non-current assets

 

49,342

 

52,468

 

 

 

 

 

 

 

Total assets

 

590,049

 

425,173

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

 

5,170

 

7,844

 

Income taxes payable

 

12,055

 

23,396

 

Deferred revenue

 

257,703

 

203,531

 

Amount due to a related party

 

3,946

 

7,734

 

Accrued expenses and other liabilities

 

76,900

 

84,250

 

Total current liabilities

 

355,774

 

326,755

 

 

 

 

 

 

 

Non-current liabilities:

 

 

 

 

 

Long-term lease liabilities

 

35,638

 

37,679

 

Other non-current liabilities

 

47,101

 

39,757

 

Total non-current liabilities

 

82,739

 

77,436

 

 

 

 

 

 

 

Total liabilities

 

438,513

 

404,191

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

Class A ordinary shares, par value US$0.001 per share, 1,000,000,000 shares authorized for Class A and Class B in aggregate, 72,475,630 shares issued as of June 30, 2020 and December 31, 2019; outstanding shares as of June 30, 2020 and December 31, 2019: 66,097,800 and 65,762,936

 

500

 

500

 

Class B ordinary shares, par value US$0.001 per share, 1,000,000,000 shares authorized for Class A and Class B in aggregate, 23,636,706 shares issued and outstanding as of June 30, 2020 and December 31, 2019

 

163

 

163

 

Treasury shares

 

(44

)

(46

)

Capital deficit

 

(130,814

)

(135,179

)

Retained earnings

 

281,525

 

155,324

 

Accumulated other comprehensive income

 

206

 

220

 

Total equity

 

151,536

 

20,982

 

 

 

 

 

 

 

Total liabilities and equity

 

590,049

 

425,173

 

 


 

CHINA INDEX HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB, except for per share data)

 

 

 

Three Months Ended
June 30

 

Six Months Ended
June 30

 

 

 

2020

 

2019

 

2020

 

2019

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

150,219

 

133,964

 

283,014

 

253,109

 

Cost of revenues

 

(23,410

)

(24,591

)

(42,911

)

(47,387

)

Gross profit

 

126,809

 

109,373

 

240,103

 

205,722 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Selling and marketing expenses

 

(32,302

)

(23,917

)

(56,187

)

(45,223

)

General and administrative expenses

 

(26,143

)

(24,718

)

(46,011

)

(36,427

)

Operating income

 

68,364

 

60,738

 

137,905

 

124,072

 

Interest income

 

468

 

287

 

860

 

353

 

Change in fair value of the warrants

 

 

(1,539

)

 

(1,539

)

Gains on sale of short-term investments

 

2,571

 

 

4,076

 

 

Government grants

 

483

 

223

 

3,927

 

223

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

71,886

 

59,709

 

146,768

 

123,109 

 

Income tax expenses

 

(9,576

)

(8,275

)

(20,567

)

(18,448

)

 

 

 

 

 

 

 

 

 

 

Net income

 

62,310

 

51,434

 

126,201

 

104,661 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments, net of nil income taxes

 

(5

)

67

 

(18

)

43

 

Unrealized holding gains on short-term investments net of RMB612 and nil income taxes for the periods ended June 30, 2020 and 2019

 

2,072

 

 

3,469

 

 

Less: Reclassification adjustment for gains on short-term investments realized in net income, net of RMB611 and nil income taxes for the periods ended June 30, 2020 and 2019

 

(2,186

)

 

(3,465

)

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income

 

62,191

 

51,501

 

126,187

 

104,704

 

 

 

 

 

 

 

 

 

 

 

Earnings per share for Class A and Class B ordinary shares:

 

 

 

 

 

 

 

 

 

Basic

 

0.70

 

0.58

 

1.41

 

1.17

 

Diluted

 

0.69

 

0.57

 

1.38

 

1.17

 

Weighted average number of Class A and Class B ordinary shares and ordinary shares equivalents outstanding:

 

 

 

 

 

 

 

 

 

Basic

 

89,736,203

 

89,339,642

 

89,737,929

 

89,339,642

 

Diluted

 

90,939,356

 

89,775,907

 

91,246,792

 

89,775,907