Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 4,446.4 million, a decrease of 11.7% compared to RMB 5,033.3 million in 2022[5]. - The net loss for the year was RMB 1,524.8 million, a significant reduction of 69.3% compared to a loss of RMB 4,968.5 million in 2022[6][10]. - Basic and diluted loss per share for the year was RMB 70.88, compared to RMB 222.77 in 2022[10]. - Total comprehensive expenses for the year amounted to RMB 1,523.5 million, down from RMB 4,974.6 million in the previous year[10]. - The company reported a net loss attributable to shareholders of RMB 1,239,749,000 for 2023, compared to a net loss of RMB 3,896,299,000 in 2022, reflecting an improvement of approximately 68.2%[45]. - The operating loss for the year ended December 31, 2023, was RMB 1,027.3 million, a decrease from RMB 3,332.5 million for the year ended December 31, 2022, resulting in an operating loss margin of 23.1% compared to 66.2% in the previous year[71]. - The EBITDA loss for the year ended December 31, 2023, was RMB 814.1 million, a significant reduction of 79.6% from RMB 3,998.2 million for the year ended December 31, 2022[71]. Revenue Breakdown - The total Gross Transaction Value (GTV) for real estate agency services was RMB 26.3 billion, while the GTV for real estate brokerage network services was RMB 43.4 billion[5]. - Revenue from primary property agency services decreased by 62.6%, while revenue from real estate data and consulting services decreased by 20.7%[6]. - Revenue from primary real estate agency services decreased to RMB 219,624,000 in 2023 from RMB 586,473,000 in 2022, a decline of approximately 62.6%[20]. - Revenue from real estate data and consulting services totaled RMB 443,908,000 in 2023, down from RMB 559,814,000 in 2022, representing a decrease of about 20.7%[20]. - The real estate brokerage network service segment reported external sales of RMB 1,510,408,000, slightly down from RMB 1,576,598,000 in 2022, a decrease of approximately 4.2%[30][31]. - The digital marketing service segment's external sales amounted to RMB 2,272,499,000, down from RMB 2,310,394,000 in the previous year, representing a decline of about 1.6%[30][31]. Cost Management - The company focused on cost control, resulting in a 60.2% reduction in cash used in operating activities year-on-year[6]. - Employee costs decreased by 44.4% from RMB 1,967.3 million in 2022 to RMB 1,093.2 million in 2023, with the proportion of employee costs to revenue dropping from 39.1% to 24.6%[52]. - Advertising and promotion expenses reduced by 16.3% from RMB 2,374.6 million in 2022 to RMB 1,986.9 million in 2023, mainly due to decreased costs associated with business expansion[53]. - Total employee compensation expenses for the year ended December 31, 2023, amounted to RMB 1,093.2 million, a decrease of 44.4% from RMB 1,967.3 million in the previous year[79]. - The total depreciation and amortization expenses for 2023 were RMB 285,760,000, significantly lower than RMB 537,521,000 in 2022, marking a decrease of about 46.9%[43]. Debt and Financial Position - The company is actively working on restructuring its offshore debt and plans to provide updates to creditors by the end of April 2024[6]. - The net liabilities of the company increased to RMB 6,562,944,000 in 2023 from RMB 5,027,872,000 in 2022, indicating a worsening financial position[13]. - Total current liabilities increased to RMB 9,945,960,000 in 2023 from RMB 10,077,408,000 in 2022, indicating a slight decrease[13]. - The debt-to-capital ratio increased to 145.8% as of December 31, 2023, from 100.6% as of December 31, 2022, reflecting a 45.2 percentage point increase due to a decrease in total assets[75]. - The company is actively negotiating debt restructuring with creditors to improve its financial situation[18]. Market Outlook - The outlook for 2024 remains challenging due to uncertain market sentiment and transaction activity in the real estate sector[7]. - The company anticipates that effective cost control and successful debt restructuring will allow it to benefit from market recovery when it occurs[7]. Other Information - The company has not proposed or declared any dividends for the years ended December 31, 2022, and 2023[44]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[102]. - The company has not been involved in any significant litigation or arbitration as of December 31, 2023[101]. - The company has established an audit committee to review and supervise the financial reporting process and internal control systems[97]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[90].

Financial Performance - In the first half of 2023, the Group experienced a 5.7% year-on-year decrease in total sales revenue due to a depressed real estate market in China[15]. - The Group achieved a 53% year-on-year reduction in total net loss and an 89% year-on-year decrease in net cash used in operating activities[16]. - Total revenue for the six months ended June 30, 2023, was RMB2,299.5 million, a decrease of 5.7% from RMB2,438.8 million for the same period in 2022[26]. - The loss for the period amounted to RMB864.0 million for the six months ended June 30, 2023, compared to a loss of RMB1,838.3 million for the six months ended June 30, 2022[65]. - The Group reported a loss of approximately RMB864,044,000 for the six months ended June 30, 2023, compared to a loss of RMB1,838,303,000 in the same period of 2022, indicating a year-over-year improvement[184]. - Basic loss per share for the period was RMB41.50, compared to RMB81.68 for the same period in 2022, showing a significant reduction in loss per share[188]. - The Group's total comprehensive expense for the period was RMB862,974,000, compared to RMB1,832,393,000 in the prior year, indicating a decrease of approximately 53%[188]. Revenue Breakdown - Revenues from primary market real estate agency services decreased by 64.9%, while revenues from real estate brokerage network services increased by 15.9%[15]. - Revenue from real estate agency services in the primary market decreased by 64.9% to RMB128.7 million, down from RMB367.2 million in the prior year[27]. - Revenue from real estate brokerage network services increased by 15.9% to RMB798.6 million, compared to RMB689.0 million for the same period in 2022[29]. - Revenue from digital marketing services rose by 5.9% to RMB1,150.2 million, up from RMB1,086.3 million in the previous year[30]. Cost Management - The Group will focus on cost control and cash flow management to maintain sustainable operations amid a difficult operating environment[20]. - Staff costs decreased by 43.9% to RMB622.2 million, representing 27.1% of revenue, down from 45.5% in the prior year[31]. - Advertising and promotion expenses decreased by 10.5% to RMB1,003.3 million, down from RMB1,121.1 million for the same period in 2022[39]. - Rental expenses for short-term leases decreased significantly from RMB60.4 million to RMB20.5 million[40]. - Depreciation and amortization expenses decreased by 46.7% to RMB146.4 million, down from RMB274.6 million in the previous year[41]. - Loss allowance on financial assets subject to expected credit loss decreased by 92.3% to RMB33.1 million, down from RMB428.5 million[42]. Debt and Restructuring - The new offshore debt restructuring plan has received support from over 82% of creditors, indicating substantial progress[17]. - The company is taking measures to improve its liquidity and financial position, including debt restructuring and potential sale of investment properties[178]. - The company's finance costs decreased by 3.4% from RMB242.5 million for the six months ended June 30, 2022, to RMB234.3 million for the six months ended June 30, 2023, due to a decrease in the weighted average balances of interest-bearing loans[63]. Cash Flow and Liquidity - The Group experienced a net cash outflow from operating activities of approximately RMB82,313,000 for the first half of 2023[180]. - Cash and cash equivalents decreased to RMB1,021,256,000 as of June 30, 2023, down from RMB1,246,583,000 at the end of 2022[189]. - The company reported a net decrease in cash and cash equivalents of RMB (230,828) thousand for the first half of 2023, compared to a decrease of RMB (1,254,356) thousand in the same period last year[196]. - The company had a cash inflow of RMB 11,963 thousand from advances from related parties, compared to RMB 445,798 thousand in the same period last year[196]. Shareholder Information - As of June 30, 2023, Mr. Zhou holds 2,511,944,934 shares, representing approximately 65.280% of the total shares outstanding[145]. - The total number of shares issued as of June 30, 2023, is 1,749,059,530[147]. - E-House (China) Holdings has a beneficial ownership of 375,838,440 shares, accounting for approximately 21.488% of the total shares[151]. - The ownership structure indicates that E-House Holdings is held 33.13% by On Chance, 14.65% by Jun Heng, and 52.22% by Mr. Zhou[156]. Corporate Governance - The Company has complied with all applicable principles and code provisions as set out in the Corporate Governance Code during the Reporting Period[118]. - The Company has established an audit committee, a nomination committee, and a remuneration committee to enhance corporate governance[127]. - The report emphasizes the importance of corporate governance in maintaining shareholder interests and transparency[157]. Future Outlook - Looking ahead, the Group expects continued challenges in the macroeconomic conditions and real estate industry outlook for the second half of 2023[20]. - The effectiveness of cost control and successful debt restructuring positions the Group to benefit from a market recovery when it occurs[20].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致之任何損失承擔任何責任。 E-House (China) Enterprise Holdings Limited 易居（中國）企業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2048） 截至2023年6月30日止六個月之 中期業績公告 易居（中國）企業控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈 本公司、其附屬公司及併表聯屬實體（統稱「本集團」）於截至2023年6月30日止六 個月（「報告期間」）的未經審計綜合業績。本中期業績乃根據《國際會計準則》第 34號「中期財務報告」而編製。 本公告中，「我們」及「我們的」指本公司（定義見上文）及在文義另有所指時指本 集團（定義見上文）。 中期業績摘要 • 截至2023年6月30日止六個月，總收入為人民幣2,299.5百萬元。 • 截至2023年6月30日止六個月，房地產代理服務交易總額（「GTV」）為人民幣 149億元。 ...

Debt Restructuring - The Group announced an offshore debt restructuring due to serious liquidity constraints caused by a large amount of unpaid accounts receivables, with the proposed scheme sanctioned by the Grand Court of the Cayman Islands on November 9, 2022[34]. - The restructuring was expected to be completed by December 14, 2022, but did not become effective due to the continued industry downturn and inability to recover substantial outstanding accounts receivables[34]. - The Company continues to engage with stakeholders to formulate a restructuring plan that considers all interests involved[34]. Digital Solutions and Innovation - The Company aims to build a digital solution platform ecosystem based on real estate big data, enhancing its brand influence and data assets[31]. - The focus will be on providing comprehensive and customized digital solutions for residential property development, adhering to the principle that houses are for living in, not for speculation[31]. - The Group plans to explore digital innovation in real estate business models, including digital asset management for existing real estate and non-performing assets[31]. - The Company is committed to reinforcing competitive barriers and achieving innovation in the digital age[31]. - The digital service strategy aims to support clients in achieving effective development and excellent performance in their businesses[31]. Financial Performance - The financial highlights and performance metrics for 2022 are detailed in the annual report, indicating the overall financial health of the Company[35]. - In 2022, the total revenue of E-House (China) Enterprise Holdings Limited was RMB 5,033.3 million[49]. - The real estate agency services revenue significantly declined due to decreased sales and liquidity constraints faced by developers[45]. - Total revenue for the reporting period amounted to RMB 5,033.3 million[158]. - The total gross transaction value (GTV) for real estate agency services during the reporting period was RMB 83.1 billion[156]. - The company reported a loss of RMB 4,968.5 million for the year, with total comprehensive expenses amounting to RMB 4,974.6 million[157]. Market Challenges - The real estate industry in China faced unprecedented challenges in 2022, largely due to COVID-19 disruptions[44]. - The Group focused on cost control and collection of receivables amidst challenging market conditions[45]. - The Group aims to position itself for market recovery through its strategic initiatives and operational adjustments[45]. Strategic Initiatives - The construction of the Tmall Haofang real estate transaction platform was fully initiated in 2022, marking a strategic shift towards digital marketing[50]. - The first store-aggregated house rental transaction platform in China was launched on July 26, 2022, as part of the real estate transaction platform development[51]. - E-House plans to continue promoting the full-chain platform for online and offline real estate transactions in 2023[51]. - The Group's strategy includes collaboration with Alibaba to enhance its online real estate marketing platform[45]. Connected Transactions - Leju is considered a "connected person" under the Listing Rules due to its association with E-House (China) Holdings, a substantial shareholder[82]. - The proposed annual cap for continuing connected transactions in 2022 was RMB 15 million, with actual transaction amounts being RMB 1 million for Leju-SINA transactions and RMB 84 million for Leju-Tencent transactions[84]. - The advertising inventory sale agency agreement with SINA allows Leju to sell advertising on SINA's non-real estate websites, with Leju entitled to approximately 85% of the revenues generated[93]. - The offshore transitional services agreement with E-House Holdings provides various corporate support services to Leju, with costs based on actual direct and indirect expenses incurred[99]. - The continuing connected transactions are exempt from independent shareholders' approval requirements under Chapter 14A of the Listing Rules, subject to annual review and reporting[88]. Financial Management - The operating loss for the year was RMB 3,332.5 million in 2022, compared to an operating loss of RMB 10,427.4 million in 2021, resulting in an operating loss margin of 66.2%[184]. - Finance costs decreased by 12.4% from RMB 538.8 million in 2021 to RMB 471.8 million in 2022, primarily due to a decrease in the weighted average balances of interest-bearing loans[177]. - The income tax credit recorded in 2022 was RMB 39.0 million, compared to an income tax expense of RMB 360.9 million in 2021, primarily due to the loss before taxation[178]. - The loss for the year amounted to RMB 4,968.5 million in 2022, a significant reduction from a loss of RMB 12,264.7 million in 2021[179]. - EBITDA loss for the year was RMB 3,998.2 million in 2022, a decrease of 63.4% from RMB 10,929.6 million in 2021[185]. Compliance and Regulatory Matters - The company is actively managing operations to qualify for acquiring the entire shareholding in its Onshore Holdcos when regulations allow foreign investment in restricted businesses[138]. - The PRC Legal Adviser believes the company has taken all reasonable steps towards fulfilling the Qualification Requirements, subject to the discretion of the competent authority[138]. - The company must comply with annual review and disclosure requirements for ongoing transactions as per the Listing Rules[120]. - The company plans to maintain good financial and business standards and practices, obtaining all necessary government licenses and permits[167].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致之任何損失承擔任何責任。 E-House (China) Enterprise Holdings Limited 易居（中國）企業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2048及債務股份代號：40507） 截至2022年12月31日止年度的經審計年度業績公告 易居（中國）企業控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈 本公司、其附屬公司及併表聯屬實體（統稱「本集團」）於截至2022年12月31日止 年度（「報告期間」）的經審計綜合業績。本年度業績已由本公司審計委員會審閱。 本公告中，「我們」及「我們的」指本公司（定義見上文）及在文義另有所指時指本 集團（定義見上文）。 財務摘要 • 於報告期間，總收入為人民幣5,033.3百萬元。 • 於報告期間，房地產代理服務交易總額（「GTV」）為人民幣831億元。 • 於報告期間，房地產經紀網絡服務GTV為人民幣878億元。 ...

Financial Performance - The company reported a total revenue of RMB 39,973 for the six months ended June 30, 2022, compared to RMB 117,098 in the same period of 2021, representing a decline of approximately 65.8%[7]. - Revenue decreased by 61.0% from RMB 6,247.9 million for the six months ended 30 June 2021 to RMB 2,438.8 million for the six months ended 30 June 2022, primarily due to the overall downturn of the real estate market[80]. - Revenue from primary market real estate agency services decreased by 77.6% to RMB 367.2 million, down from RMB 1,637.4 million for the same period[80]. - Revenue from real estate brokerage network services decreased by 68.1% to RMB 689.0 million, down from RMB 2,162.3 million for the same period[80]. - Revenue from real estate data and consulting services decreased by 40.2% to RMB 296.3 million, down from RMB 495.9 million for the same period[80]. - Revenue from digital marketing services decreased by 44.4% to RMB 1,086.3 million, down from RMB 1,952.3 million for the same period[80]. - The Group recorded a loss of RMB 1,838.3 million during the reporting period due to a sluggish property market and a downward trend in real estate sales collections[65]. - The company reported a loss for the period of RMB 1,838.3 million for the six months ended 30 June 2022, compared to a loss of RMB 1,562.7 million for the same period in 2021[109]. - Operating loss for the six months ended 30 June 2022 was RMB 1,487.1 million, with an operating loss margin of 61.0%, compared to an operating loss of RMB 1,665.2 million and a margin of 26.7% for the same period in 2021[136]. - EBITDA loss for the six months ended 30 June 2022 was RMB 1,312.3 million, compared to RMB 1,071.1 million for the same period in 2021[164]. Liabilities and Equity - Total liabilities amounted to RMB 8,993,612 as of June 30, 2022, compared to RMB 8,586,131 at the end of 2021, reflecting an increase of approximately 4.8%[3]. - The net current liabilities were reported at (RMB 4,496,660), a significant increase from (RMB 1,031,973) in the previous period[3]. - The equity attributable to owners of the Company showed a decline to (RMB 2,587,272) from (RMB 1,164,529), indicating a decrease of approximately 122.4%[3]. - The total equity reported was (RMB 1,873,405) as of June 30, 2022, compared to (RMB 9,995) at the end of 2021, indicating a significant decline in equity[3]. - The gearing ratio as of 30 June 2022 was 66.7%, up from 56.6% as of 31 December 2021, primarily due to a decrease in total assets[144]. Cash Flow and Liquidity - Cash and cash equivalents decreased from RMB 3,314.7 million as of 31 December 2021 to RMB 2,101.8 million as of 30 June 2022[117]. - The company plans to satisfy its liquidity requirements through a combination of internally generated cash, external borrowings, and funds raised from capital markets[119]. - The Group's cash usage for the six months ended 30 June 2022 primarily supported working capital and other recurring expenses for business expansion[167]. Cost Management - Staff costs decreased by 37.8% to RMB 1,109.1 million, while staff costs as a percentage of revenue increased from 28.5% to 45.5%[80]. - Advertising and promotion expenses decreased by 22.7% to RMB 1,121.1 million, down from RMB 1,450.2 million for the same period[82]. - Distribution expenses decreased by 67.0% from RMB 1,982.4 million for the six months ended 30 June 2021 to RMB 654.9 million for the six months ended 30 June 2022, primarily due to a decrease in revenue from real estate brokerage network services[3]. - Other operating costs decreased by 43.0% from RMB 316.9 million for the six months ended 30 June 2021 to RMB 180.7 million for the six months ended 30 June 2022, primarily due to the company's cost reduction efforts[4]. - Finance costs decreased by 10.0% from RMB 269.6 million for the six months ended 30 June 2021 to RMB 242.5 million for the six months ended 30 June 2022, mainly due to a decrease in the weighted average balances of interest-bearing loans[107]. Impairment and Credit Losses - The company reported an additional expected credit loss (ECL) of RMB 2,295.4 million due to deteriorating market conditions in the PRC real estate industry[177]. - An additional impairment loss of RMB 267.5 million was recognized on non-current assets, reflecting the financial performance falling short of management's expectations[177]. - The assessment of ECL is based on historical data and forward-looking information, considering factors such as default probability and loss given default[180]. - The management revised the major assumptions in the assessment model for expected credit loss (ECL) and impairment, leading to material differences in financial results[153]. - The Group identified 16 credit deterioration property developers as high-risk counterparties, with the probability of default for accounts receivables ranging from 72% to 100%[157]. Corporate Governance - The company has adopted strict corporate governance principles to enhance transparency and accountability to shareholders[190]. - The company confirmed compliance with the Model Code regarding directors' dealings in securities throughout the reporting period[194]. - The company will continue to monitor its corporate governance practices to ensure compliance with the New CG Code effective from January 1, 2022[193]. - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2022, and discussed accounting policies and internal controls with senior management[192]. Strategic Initiatives - The Group's digital marketing strategy focuses on Tmall Haofang, enhancing online real estate marketing and transactions through a strategic partnership with Alibaba[66]. - The Group's digital service strategy is centered on CRIC Big Data, aiming to create a real estate digital solution platform ecosystem[70]. - The construction of Tmall Haofang's platform has been initially completed, integrating Alibaba's resources with E-House's experience in real estate marketing[67]. - Tmall Haofang's information service platform covers more than 300 cities, with over 35,000 online new housing projects, 200,000+ second-hand housing listings, and 400,000+ rental housing listings, achieving more than 20 million monthly active users[67].

Financial Performance - Total revenue for the six months ended June 30, 2022, was RMB 2,438.8 million[2] - The company reported a net loss attributable to shareholders of RMB 1,428,653,000 for the six months ended June 30, 2022, compared to a loss of RMB 1,423,344,000 for the same period in 2021[39] - The group reported a loss of approximately RMB 1,838,303,000 for the six months ended June 30, 2022, with a net cash outflow from operating activities of approximately RMB 733,455,000[14] - The company reported a net loss of RMB 1,838.3 million for the six months ended June 30, 2022, compared to a net loss of RMB 1,562.7 million for the six months ended June 30, 2021[73] - Total comprehensive expenses for the six months ended June 30, 2022, amounted to RMB 1,832.4 million, compared to RMB 1,562.4 million for the six months ended June 30, 2021[75] - Operating loss for the six months ended June 30, 2022, was RMB 1,487.1 million, with an operating loss margin of 61.0%, compared to an operating loss of RMB 1,665.2 million and a margin of 26.7% for the same period in 2021[77] Revenue Breakdown - The total Gross Transaction Value (GTV) for real estate agency services was RMB 47.8 billion for the same period[2] - Revenue from primary property agency services was RMB 367,205 thousand, down 77.49% from RMB 1,637,360 thousand year-on-year[22] - Revenue from real estate brokerage network services was RMB 688,959 thousand, a decrease of 68.15% compared to RMB 2,162,298 thousand in the previous year[22] - Digital marketing services generated revenue of RMB 1,086,294 thousand, down 44.39% from RMB 1,952,327 thousand in the same period last year[22] - Revenue from real estate data and consulting services decreased by 40.2% from RMB 495.9 million to RMB 296.3 million, reflecting the impact of the weak real estate market[55] Assets and Liabilities - Non-current assets totaled RMB 4,266.6 million as of June 30, 2022, compared to RMB 4,575.2 million as of December 31, 2021[7] - Current liabilities amounted to RMB 8,993.6 million as of June 30, 2022[9] - The net current liabilities were RMB 4,496.7 million, compared to RMB 1,031.9 million in the previous year[9] - Total equity attributable to owners of the company was RMB (2,587.3) million as of June 30, 2022[9] - The capital debt ratio increased to 66.7% as of June 30, 2022, from 56.6% as of December 31, 2021, primarily due to a decrease in total assets[86] Credit and Receivables - The fair value of receivables measured at fair value through other comprehensive income was RMB 1,431,735,000 as of June 30, 2022, with expected credit loss provisions amounting to RMB 5,861,521,000[21] - The carrying amount of accounts receivable, net of expected credit loss provisions, was RMB 48,204,000, with provisions of RMB 834,615,000 as of June 30, 2022[21] - The group identified significant increases in credit risk for several real estate developer clients, leading to substantial expected credit loss provisions during the reporting period[19] - The allowance for expected credit losses on financial assets totaled RMB 428,457,000 for the six months ended June 30, 2022, down from RMB 1,937,551,000 in the same period of 2021[47] Operational Strategies - The group plans to improve working capital to address its financial obligations, including raising funds for operational needs and controlling administrative costs[15] - The company plans to enhance its marketing strategies in the second half of the fiscal year to address seasonal revenue fluctuations in primary property agency services[29] - The company aims to leverage digital solutions through "Kerry Data" to enhance its position as a leading provider of real estate digital solutions in China[53] Cost Management - Employee costs decreased by 37.8% from RMB 1,783.6 million to RMB 1,109.1 million, with the proportion of employee costs to revenue increasing from 28.5% to 45.5% due to declining revenue[57] - Marketing and promotional expenses fell by 22.7% from RMB 1,450.2 million to RMB 1,121.1 million, primarily due to the decline in revenue from digital marketing services[58] - Other operating costs decreased by 43.0% from RMB 316.9 million for the six months ended June 30, 2021, to RMB 180.7 million for the six months ended June 30, 2022, primarily due to cost reduction measures[65] Financial Reporting and Compliance - The group has adopted all new and revised International Financial Reporting Standards effective from January 1, 2022, with no significant changes to accounting policies or presentation of financial statements[17] - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2022[99] - The company has confirmed that there are no undisclosed inside information as of the announcement date[116] Shareholder Information - The company did not declare any dividends for the six months ended June 30, 2021, and 2022[37] - The company does not plan to declare an interim dividend for the six months ended June 30, 2022[103] - Trading of the company's shares was suspended on September 1, 2022, and resumed on December 1, 2022, following the publication of financial reports[117]

Financial Performance - The company reported a loss of RMB 12.265 billion for the reporting period, primarily due to the overall downturn in the real estate market, which led to a decrease in business scale and additional provisions for expected credit losses on trade receivables [26]. - The decline in the real estate market has resulted in a significant impact on the company's performance, with a notable decrease in sales recovery from real estate developers [26]. - The company faced additional impairment losses on other assets due to the overall market downturn, further contributing to the financial losses reported [26]. - The Group recorded a total revenue of RMB 8,866.0 million for the year ended December 31, 2021, representing a 10.1% increase from RMB 8,051.5 million in 2020 [39][47]. - The Group incurred a loss of RMB 12,264.7 million for the year ended December 31, 2021, primarily due to the overall downturn in the real estate market [41]. - Revenue from real estate agency services decreased by 37.9% to RMB 1,989.1 million in 2021, down from RMB 3,203.5 million in 2020 [44][47]. - The loss for the year amounted to RMB 12,264.7 million in 2021, compared to a profit of RMB 439.2 million in 2020 [1]. - Total comprehensive expense for the year was RMB 12,260.9 million in 2021, compared to total comprehensive income of RMB 458.7 million in 2020 [1]. - Operating loss for the year ended 31 December 2021 was RMB 10,427.4 million, compared to an operating profit of RMB 955.5 million for the year ended 31 December 2020 [67]. - EBITDA loss for the year ended 31 December 2021 was RMB 10,929.6 million, compared to EBITDA of RMB 1,384.1 million for the year ended 31 December 2020 [72]. Market Conditions - The real estate industry is experiencing a downturn characterized by policies aimed at stabilizing land prices, housing prices, and expectations, which has affected the company's operations [26]. - The company is positioned as a major service platform in the downstream real estate industry, which has been adversely affected by the credit quality deterioration of several real estate developer clients [26]. - Future outlook remains cautious as the company navigates through the ongoing challenges in the real estate market [26]. - The company is committed to maintaining its service quality and supporting clients during this period of market instability [26]. - The management will continue to monitor market trends and adjust strategies accordingly to ensure long-term sustainability [26]. Operational Efficiency and Strategy - The management is focused on enhancing operational efficiency and mitigating risks associated with the current market environment [26]. - The company aims to adapt to the changing market conditions and explore new strategies for growth amidst the challenges faced in the real estate sector [26]. - The Group actively optimized receivables and credit periods, prioritizing high-quality projects with guaranteed collection [30]. - The Group's digital marketing strategy focuses on building a full-chain platform for online and offline real estate digital marketing [34][36]. - The Group aims to develop CRIC into a leading real estate digital solution provider in China, enhancing its service offerings through big data applications [37]. Revenue and Expenses - Revenue from digital marketing services increased by 205.1% to RMB 3,443.2 million in 2021, primarily due to the acquisition of Leju [44][47]. - Employee costs rose by 18.6% to RMB 3,243.2 million in 2021, with employee costs as a percentage of revenue increasing from 34.0% in 2020 to 36.6% in 2021 [45]. - Advertising and promotion expenses surged by 222.0% from RMB 946.8 million in 2020 to RMB 3,048.3 million in 2021, largely due to expenses incurred by Leju [51]. - Depreciation and amortisation expenses increased by 106.7% from RMB 210.6 million in 2020 to RMB 435.3 million in 2021, driven by increased amortisation of intangible assets from acquisitions [54]. - Loss allowance on financial assets subject to expected credit loss increased by 5,094.9% from RMB 172.5 million in 2020 to RMB 8,963.7 million in 2021, due to worsened credit quality of certain customers [55]. - Impairment losses on non-current assets were recorded at RMB 858.5 million in 2021, compared to nil in 2020, primarily from goodwill impairment [60]. Cash Flow and Liquidity - Cash and cash equivalents decreased from RMB 7,515.8 million as of 31 December 2020 to RMB 3,314.7 million as of 31 December 2021 [75]. - The company plans to meet its liquidity needs through internally generated cash, external borrowings, and issuance of dollar-denominated senior notes maturing in 2022 and 2023 [75]. - The principal uses of cash during the year included funding working capital and recurring expenses to support operational expansion [79]. - The company plans to satisfy liquidity requirements through a combination of internally generated cash, external borrowings, and capital market funds [79]. Corporate Governance and Management - The company has appointed new non-executive directors to strengthen governance and oversight, effective from September 2021 [109]. - The Group's management team includes individuals with significant experience in financial and operational roles, enhancing strategic decision-making capabilities [167]. - The leadership team has a strong educational background, with degrees from prestigious institutions such as Renmin University of China and the University of Toronto [165]. - The Company is committed to maintaining strong relationships with stakeholders that significantly impact its success [196]. - E-House (China) Holdings is committed to maintaining high standards of corporate governance, as evidenced by its independent audit committee chaired by Mr. Cheng [132]. Future Outlook and Growth Plans - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12% [109]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions [108]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025 [107]. - E-House plans to expand its market presence in Tier 2 and Tier 3 cities, targeting a 30% increase in market share in these regions over the next two years [152]. - The company is investing in new technology development, with a budget allocation of $50 million for enhancing its real estate data analytics capabilities [152]. Risks and Challenges - The company is susceptible to fluctuations in the Chinese real estate market, which may materially and adversely affect revenues and results of operations [198]. - A substantial portion of the company's revenue is generated from a concentrated number of real estate developers [198]. - The company faces increased credit risk due to a large balance of trade receivables and customer deposits, which may significantly adversely affect operating performance [200]. - Government measures aimed at China's real estate industry may materially and adversely affect the company's business [198]. - The company relies on contractual arrangements with several subsidiaries, which may not be as effective as direct ownership and carry legal and operational risks [200].

Financial Results - The company plans to release audited financial results for the year ending December 31, 2021, by April 29, 2022[2] - The unaudited financial results announcement will be supplemented with additional information regarding any significant differences from the audited results[2] - The company has discussed with its auditors to ensure the audit process is completed unless unforeseen circumstances arise[2] - The company emphasizes the importance of maintaining the integrity of the unaudited financial results announcement[3] Leadership Structure - The board of directors includes various executive and non-executive members, indicating a diverse leadership structure[3]

Financial Performance - In the first half of 2021, the company achieved a revenue of RMB 6,247.9 million, representing a year-on-year increase of 119.6%[40] - Total revenue amounted to RMB6,247.9 million, increased by 119.6% compared to the six months ended June 30, 2020[57] - Revenue from digital marketing services amounted to RMB1,952.3 million during the reporting period[46] - Revenue from real estate brokerage network services increased by 96.2% to RMB2,162.3 million compared to the six months ended June 30, 2020[61] - Revenue from primary housing agency services increased by 29.2% to RMB1,637.4 million compared to the six months ended June 30, 2020[61] - The company reported a loss for the period amounting to RMB1,562.7 million[59] - The loss for the period amounted to RMB1,562.7 million in the six months ended June 30, 2021, compared to a profit of RMB104.7 million in the six months ended June 30, 2020[102] - Total comprehensive expense for the period was RMB1,562.4 million in the six months ended June 30, 2021, compared to total comprehensive income of RMB104.7 million in the six months ended June 30, 2020[104] - Operating loss was RMB1,665.2 million in the six months ended June 30, 2021, compared to an operating profit of RMB269.8 million in the six months ended June 30, 2020, resulting in an operating loss margin of 26.7%[104] - EBITDA loss was RMB1,071.1 million in the six months ended June 30, 2021, compared to an EBITDA profit of RMB436.2 million in the six months ended June 30, 2020[107] Real Estate Services - The total sales area of real estate agency services in the primary market reached 18.0 million square meters, with a Gross Transaction Value (GTV) of RMB 222.6 billion, a year-on-year growth of 51.0%[40] - The total gross transaction value (GTV) of real estate agency services was RMB222.6 billion, increased by 51.0% compared to the six months ended June 30, 2020[58] - The total GTV of real estate brokerage network services was RMB100.1 billion, increased by 131.1% compared to the six months ended June 30, 2020[58] - The real estate brokerage network service business realized a GTV of RMB 100.1 billion, with a year-on-year increase of 131.1%, and the number of units sold reached 67,536, up 110.2% year-on-year[41] Expenses and Costs - Staff costs increased by 50.7% from RMB1,183.9 million to RMB1,783.6 million, but as a percentage of revenue, it decreased from 41.6% to 28.5%[68] - Advertising and promotion expenses surged by 1,313.8% from RMB102.6 million to RMB1,450.2 million, mainly due to costs incurred by Leju after its acquisition[74] - Other operating costs rose by 223.4% from RMB98.0 million to RMB316.9 million, primarily due to costs incurred by Leju[87] - Distribution expenses increased by 104.7% from RMB968.4 million to RMB1,982.4 million, reflecting growth in the real estate brokerage network services segment[86] - Consultancy expenses increased by 120.9% from RMB79.3 million to RMB175.2 million, attributed to the recovery of operations[85] - Finance costs rose by 28.9%, from RMB209.1 million in the six months ended June 30, 2020, to RMB269.6 million in the six months ended June 30, 2021, mainly due to increased average balances of senior notes and bank loans[100] Cash and Financing - As of June 30, 2021, the company had cash and cash equivalents of RMB6,090.9 million, down from RMB7,515.8 million as of December 31, 2020[113] - The principal uses of cash during the six months ended June 30, 2021, were for working capital and recurring expenses to support business expansion[114] - The company's gearing ratio increased to 66.5% as of June 30, 2021, up from 64.1% as of December 31, 2020, primarily due to a decrease in cash and cash equivalents[117] - The Group had utilized approximately RMB1,309.1 million from the proceeds of USD-denominated senior notes for general corporate purposes and refinancing existing indebtedness[171] - The remaining balance of net proceeds from the senior notes issuance is approximately US$99.6 million, equivalent to RMB648.4 million, which is placed with banks for gradual application[171] Corporate Governance and Management - The Company has established an audit committee to review and supervise the financial reporting process and internal controls, consisting of three members: Mr. Zhang Bang, Mr. Li Jin, and Mr. Wang Liqun, with Mr. Zhang as the chairman[148] - The Company has complied with all code provisions set out in the Corporate Governance Code during the reporting period[148] - The Company has established a nomination committee and a remuneration committee in addition to the audit committee[150] - The Audit Committee reviewed the unaudited interim results for the six months ended June 30, 2021, discussing accounting policies and internal controls with senior management and the auditor[148] Strategic Initiatives - The company aims to establish a digital marketing strategy centered on "Tmall Haofang" to create a full-chain platform for online and offline real estate digital marketing[49] - The company plans to leverage CRIC Big Data to expand its real estate digital service platform ecosystem[53] - The Company announced the conditional agreement to sell 76,401,247 ordinary shares of Leju and the entire equity interest in E-House (China) International Property Development Limited for HK$2,558,696,093, to be settled by issuing 11,692,966 new JV shares[144] - A second strategic cooperation amendment agreement was signed with Alibaba China, granting exclusive rights to develop and operate a Tmall Haofang branded online real estate marketing platform[144] Changes in Directors - Mr. Zhu Hongchao was appointed as an independent director effective from June 2021[195] - Mr. Tang Xing was appointed as a non-executive Director effective from September 2, 2021[195] - Mr. Li Silong resigned as a non-executive Director effective from September 2, 2021[195] - Mr. Lv Peimei was appointed as a non-executive Director effective from September 2, 2021[195] - Mr. Huang Haojun resigned as a non-executive Director effective from September 2, 2021[195] - There has been no change to the information of the Directors which is required to be disclosed pursuant to Rule 13.51B(1) of the Listing Rules[195]