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PR Newswire

Notice Regarding The Launch of “MtechA”, an M&A intermediary Digital Transformation service

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TOKYO, March 2, 2023 /PRNewswire/ — GA technologies Co., Ltd. (Headquarters: Minato-Ku, Tokyo; CEO: Ryo Higuchi; Securities Code: 3491 the “Company”) hereby announces the launch of new business in our group, “MtechA”, an M&A intermediary digital transformation service. This service follows the Group’s online real estate marketplace “RENOSY” and real estate digital transformation business “ITANDI” and is the Group’s first venture outside the field of real estate. MtechA Inc. was already established on August 1, 2022, and today, March 1, 2023,  we are pleased to announce as a voluntary disclosure that we have decided to officially begin offering our services as follows.

1. Purpose and Background of Service Launch

Since our founding in 2013, we have promoted digital transformation in the real estate industry, which has been considered analog, based on our corporate philosophy of “Building a world leading company that inspires and impresses people with the power of technology and innovation.” We have strived to improve the quality of business operations in the real estate industry by accelerating the PDCA cycle and integrating technology with real estate transaction practices such as streamlining operations using technologies such as AI and RPA, shifting operations online, and improving the customer experience through the use of data. As a result, after10 years since our founding, consolidated group sales have exceeded 100 billion yen, and we have earned a reputation for promoting digital transformation in the analog industry, including being the only company in the growth market to be selected as a Digital Transformation Stock for three consecutive years (*1).

Meanwhile, approximately 2.45 million top management of small-and medium-sized businesses in Japan will be 70 years old or older by 2025, and of these, about 1.27 million face the problem of lack of successors (*2). In 2022, the number of business closures and dissolutions totaled 53,426, showing a downward trend for the third consecutive year following 2021. However, more than half of the companies were still profitable when they closed, and the loss of employment opportunities due to profitable business closures exceeded 80,000 people and the total lost sales amounted to 2.3677 trillion yen(*3). Since the lack of successors in these small and medium-sized businesses leads to a decline in Japan’s GDP and loss of high-quality technology and employment opportunities that there have been revisions to the system and the establishment of guidelines in recent years to make M&A an option for business succession. As a result of this trend, the number of domestic M&A transactions has been increasing, reaching a record high of 4,280 in 2021 (*4). The number of M&A intermediaries and platforms is also increasing, with the number of M&A support organizations totaling approximately 2,900 (*5) as of January 2023.

Given these circumstances, we have decided to enter the M&A intermediary business, an area in which we can horizontally expand the successful structure we have established in the real estate field, and where we can expect synergies.

2. Overview of Services

While the number of M&As has increased in recent years (*4) and is garnering attention as a means of solving social issues, many of their operations and processes are analog and dependent on individual skills. Based on our track record of promoting real estate digital transformation, we will bring technology into the field of M&A intermediary services to improve the overall quality of the M&A experience by increasing the transparency of transactions and making all parties involved more comfortable.

I.  Utilizing expertise accumulated in real estate digital transformation, including the use of AI, in the field of M&A

We will provide services that leverage our planning and development capabilities, which have enabled the completion of all procedures necessary to lease, buy, and sell real estate online, and the research and development systems of our in-house AI research organization, which has reduced real estate procurement work to a third of what it used to be.

II.  Customer-oriented services that combine technology and human skills

Members with proven track records in the industry have already joined MtechA, including consultants for major Japanese M&A intermediary firms and product managers for major Japanese M&A platforms. The combination of our development capabilities with personnel who are well versed in the M&A industry and practices, we provide the services and products that our clients, including business managers, truly seek.

III.  Integrated support for asset management after business transfer

MtechA can provide asset management support for business owners after the transfer of their business, using RENOSY. RENOSY offers an extensive lineup of pre-owned compact condominiums and one-unit apartments in central Tokyo, as well as overseas real estate, and more which allows us to provide comprehensive support for issues related to home purchasing, leasing and land use.

3. Overview of MtechA

(1) Company name

MtechA Inc.

(2) Name and title of representative

Dai Higuchi, Representative Director

(3) Head office

Sumitomo Fudosan Roppongi Grand Tower 39F, 3-2-1 Roppongi, Minato-ku, Tokyo

(4) Established

August 1, 2022

(5) Capital

50 million yen

(6) Business description

M&A intermediary business, research and development of M&A products

(*1) Selected as “Digital Transformation Stock (digital transformation Stock)” for the third consecutive year by the Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange.

https://ssl4.eir-parts.net/doc/3491/tdnet/2140180/00.pdf

(*2) Current Status and Issues of M&A in Small and Medium Enterprises and Small Businesses Operators, The Small and Medium Enterprise Agency

https://www.chusho.meti.go.jp/koukai/kenkyukai/hikitugigl/2019/191107hikitugigl03_1.pdf

(*3) National Survey of Business Suspension and Dissolution Trends (2022), Teikoku Databank, Ltd.

https://www.tdb.co.jp/report/watching/press/pdf/p230106.pdf

(*4) 2022 Small and Medium Enterprise White Paper and Small Enterprise White Paper, Small and Medium Enterprise Agency

https://www.chusho.meti.go.jp/pamflet/hakusyo/2022/PDF/chusho/00Hakusyo_zentai.pdf

(*5) Registration System for M&A Support Agencies, Current Registration Status (as of January 16, 2023), Small and Medium Enterprise Agency 

https://www.chusho.meti.go.jp/zaimu/shoukei/2023/230116m_and_a02.pdf

4. Future Outlook

This plan is expected to have only a limited impact on our consolidated performance for this fiscal year, but additional information will be disclosed as soon as such need arises.

GA technologies Co., Ltd
Representative: Ryo Higuchi
Website: https://www.ga-tech.co.jp/
Headquarters: 40F of Sumitomo real estate Roppongi Grand Tower, Roppongi 3-2-1, Minato-Ku, Tokyo
Year of founding: March 2013
Capital fund: 7,238,798,466 yen (by October 2022)
Services:

  • Internet real estate marketplace business: RENOSY
  • BtoB PropTech SaaS development

GA technologies group: ITANDI, RENOSY PLUS, Shenjumiausuan, and 12 other group companies 

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PR Newswire

BEEPLUS Increases the Value of Existing Real Estate While Harnessing the Growth Potential of the Companies It Serves

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SHENZHEN, China, July 16, 2021 — With the continued evolution of the Internet and with more and more companies focused on innovative technologies, the requirements for an office are shifting from the need for basic functions to a communal workspace that is more humanized, creatively-designed and fully functional. To this end, the asset-light output model of commercial office space has quietly become popular. As one of the first "asset-light" brands in the industry, BEEPLUS, founded in 2015, has gone beyond the conventional expectation for office space in terms of design and operation with its own unique "new office ecology" concept: an "asset-light output model" that repurposes existing real estate, provides corporate services and integrates office and living.

"We are creating a new office scenario, and win-win cooperation model through ‘asset-light output’ – providing an innovative and high-quality office experience for urban white-collar workers while enhancing efficiency and soft power for the enterprise and increasing the value of the property for the owner," said Jia Fan, CEO of BEEPLUS. "We aim to become the Marriott of the flexible workspace industry."

In the past, when an office space needed to be leased, the company’s executives had to choose a location, then decide on the design and supervise the outfitting of the office on their own, all of which took a lot of time and effort and often ended with an unsatisfactory result. In order to address the problematic issue for new and growing companies, BEEPLUS has packaged the entire process to provide companies with quality office solutions.

In early 2019, BEEPLUS created a customized design for Plateno Group’s Shenzhen headquarters office and oversaw its implementation. The office features a well-lit and spacious reception area, a bright and colorful lounge space, innovatively-designed rooms where phone calls can be made in private, ergonomic 9am digital height-adjustable workstations, professional rowing exercise equipment, and sail-themed walls in line with Plateno Group’s philosophy.

In addition to creating the office space, BEEPLUS will also provide a full range of operational support services to Plateno Group over the next five years.

In 2019, the Reith & BEEPLUS business center, an American-style community jointly built by BEEPLUS and the Reith Group, opened in Shenzhen. The project not only eschewed traditional approaches to the design of the workspace, but also became a model for what the workspace of the future would look like.

Despite the highly desirable geographical location in the popular Bao’an District, the immediate neighborhood was lacking in support facilities. In 2019, the Reith Group brought in BEEPLUS to re-architect the property, and signed on for BEEPLUS’ one-stop services including design, construction, operation and investment support.

After renovation of the space and commencement of operations, the project quickly achieved 100% occupancy, with tenants coming from many emerging industries. The project became a typical example of "new office ecology" in enhancing the value of what was originally a depressed property. At the same time, it caused all the surrounding properties to appreciate in value with many medium- and long-term leases having been signed, creating a cluster of local business professionals. The end result has been the arrival and establishment of businesses to support the cluster, stimulating the economic vitality of the area where the property is located. 

BEEPLUS’ concept of packaging a business center brand with an adjacent accommodations facility and then scaling the concept by creating a chain of such facilities, coupled with the development of four core competencies to make it possible to execute on the concept: international design, renovation of depressed properties, support services including build-out and operation of high-end living spaces alongside the workspace, as well as operations and investment, have enabled the company to achieve an occupancy rate of over 95% in its projects in Shenzhen, Zhuhai and Guangzhou.

Related Links :

http://www.beeplus.com

PR Newswire

CamLy Group unveils CamLy Platform and CamLyLife as part of its digital ecosystem to provide technological solutions to the world

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LOS ANGELES, March 24, 2021 — CamLy Group, a leading consultancy firm in Vietnam specializing in immigration, real estate, financial investment, has tapped into the technology industry and launched two new startups: CamLy Platform and CamLyLife.

CamLy Platform provides a digital platform which offers a global real estate investment technology marketplace for users while CamLyLife is a business and entertainment platform that offers simulation experiences. These digital platforms pave the way for a digitalized Vietnam and are part of CamLy Group’s digital eco-system that offers digital solutions to the world.

CamLy Platform and CamLyLife joins the global digital revolution to provide technological solutions across industries
CamLy Platform and CamLyLife joins the global digital revolution to provide technological solutions across industries

These two companies are the intellectual products of the Founder of CamLy Group, Ms. Cam Ly Duong, a female leader and pioneer businesswoman in the field of international real estate investment who has raised more than US$500 million for North America Real estate market. In 2020, she was selected as one of the top 25 Global CEOs in the Immigration Consulting Field by Uglobal Immigration Magazine.

"The CamLy Group’s main vision is to offer the world happiness and prosperity through investing in harmony and humanity. We build platforms integrating the world’s most modern technologies to expand our horizons. Applying the "Sharing Economy" mindset to our projects, these platforms are expected to create jobs for the Vietnamese community and around the world. Our goal is to create value for humanity, and at the same time bring Vietnam to the global stage by becoming the first Vietnamese company with a technology product and platform to be listed on the New York Stock Exchange," said Ms. Cam Ly Duong.

Ms. Cam Ly Duong, Founder of CamLy Group
Ms. Cam Ly Duong, Founder of CamLy Group

CamLy Platform highlights the idea of "Sharing and Connecting" through connecting real estate developers around the world, and mobilizing global investment capital quickly and safely.

CamLy Platform aims to create millions of jobs in the global real estate business through one of its schemes – the Global Investment Ambassadors (GIA) programme. The programme trains ambassadors to become an expert in the global real estate investment field and allows them to identify investment opportunities in potential markets. Currently, CamLy platform is operational and has presence in Vietnam, the United States and various Asian countries.

CamLyLife is a global simulation tech platform that is targeting two billion users. Acting as both a business and entertainment app, CamLyLife is a humanistic playground that helps users expand their business, experience new technologies such as Fintech and Blockchain, in a creative, virtual setting.

CamLyLife also boosts users’ online experience by offering a realistic experience virtually. It provides swift transactions, instant data on supply and demand and linking to websites such as AirBnB, Amazon, and other service providers. This app is applicable to different industries including real estate, entertainment, education, and finance.

"2020 had been a challenging year for businesses. With a positive mindset, CamLyGroup has found great growth opportunities through CamLyPlatform and CamLyLife. We will continue to promote our two platforms, bringing a completely new experience to the world and boosting the position of Vietnamese people in the international market. We expect these two platforms to become two unicorn start-up projects and attract investors from all over the world", said Ms. Cam Ly Duong.

Ms. CamLy Duong also aims to increase the brand’s humanitarian efforts, a topic close to her heart. She has long admired Mr. Elon Musk for his intelligence, great vision, and the courage to commit himself to serve humanity. The CamLy Group’s founder strives to follow in Musk’s footsteps and is known for her great love and offers unconditional donations. Ms. CamLy Duong created the CamLy Foundation to carry out volunteer activities and technology will be applied to the foundation to enhance the spirit of volunteerism globally in the future.

About CamLy Group

CamLy Group comprises of a group of leading companies in Vietnam including ImmiCa – is a leading company in the field of US immigration investment consulting EB5 and USHome – a reputable US real estate investment consultancy. Starting in 2019, CamLy Group has begun entering the technology industry and has since launched CamLy Platform and CamLyLife.

PR Newswire

Leju to Report Fourth Quarter and Full Year 2020 Financial Results on March 26, 2021

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BEIJING, March 12, 2021 — Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2020 before the U.S. markets open on March 26, 2021.

Leju’s management will host an earnings conference call on March 26, 2021 at 7 a.m. U.S. Eastern Time (7 p.m. Beijing/Hong Kong Time).

Please register in advance of the conference using the link provided below and dial in 10 minutes prior to the call, using participant dial-in numbers, Direct Event passcode and unique registrant ID which would be provided upon registering. You will be automatically linked to the live call after completion of this process, unless required to provide the conference ID below due to regional restrictions.

PRE-REGISTER LINK: http://apac.directeventreg.com/registration/event/9117658  

CONFERENCE ID: 9117658

A replay of the conference call may be accessed by phone at the following number until April 3, 2021:

U.S./International:

+1-855-452-5696

Hong Kong:           

800-963-117

Mainland China:    

400-632-2162

Passcode:               

9117658

Additionally, a live and archived webcast will be available at http://ir.leju.com.

About Leju

Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading e-commerce and online media platform for real estate and home furnishing industries in China, offering real estate e-commerce, online advertising and online listing services. Leju’s integrated online platform comprises various mobile applications along with local websites covering more than 380 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company’s own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com.

For investor and media inquiries, please contact:

Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com

Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com

PR Newswire

Caohejing Hi-Tech Park Releases Science and Technology Innovation Index Map for 2020

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SHANGHAI, Jan. 15, 2021 — On January 12, the 2020 Caohejing Hi-Tech Park Science and Technology Innovation Index Map was published and unveiled at the opening ceremony of the 5th Caohejing Hi-Tech Carnival. This event coincided with the release of the 4th issue of the park’s innovation index report series.

Caohejing Index Map
Caohejing Index Map

During the 13th Five-Year Plan, for the purpose of accurately representing the formation rules of global innovation centers in science and technology and accelerating the construction of important carrier and innovation clusters, Caohejing Hi-Tech Park focused on the basic framework of an innovation ecosystem and built a science and technology innovation index system with "six forces" at its core. Qualitative and quantitative analyses were conducted in areas of innovative economy growth, innovative resource aggregation, innovation outputs, innovative service improvement, innovative industry development and innovative environment construction. These studies objectively reflected the park’s performance in building the science and technology innovation center, providing typical insight and experience.

The park’s science and technology innovation index is calculated using 2011 as the base period (reference value of 60). According to the report, the index moved up to 186.8 as of the end of 2018 with 15.93% year-on-year growth. The compound annual growth rate during the 13th Five-Year Plan period was 13.55%. Across the measured indicators, six first-level indicators all saw rapid and steady growth. These indicators were: supporting force for science and technology innovation, demonstrating force of science and technology service, aggregating force of innovation platforms, pioneering force of innovation commercialization, leading force of emerging industries and benchmarking force of urban renewal.

Science and Technology Innovation Index PLUS

In 2020, the park adopted the concept of an "innovation map" in its science and technology innovation index. Indicator data and regional space resource distribution are combined to form the science and technology innovation enterprise map, innovative industry map, science and technology service technology, innovations map and fintech map, serving as the "instrument panel" and "navigator" for its innovation-driven development.

 The index map focuses on science and technology innovation and future industry development, visually reflects the aggregation and interaction degree of various innovators and elements in the park and shows the independent innovation degree of enterprises and levels of high-tech products. In addition to this, it also represents the development of the park’s economy featuring new technologies, industries, business types and development patterns. At the same time, the index map is committed to strengthening the park’s brand by building an innovation information service center to guide the launch of innovation projects, distribution of innovation resources and participation of social capital.

PR Newswire

Fang Announces Third Quarter 2020 Unaudited Financial Results

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BEIJING, Nov. 13, 2020 — Fang Holdings Limited (NYSE: SFUN) ("Fang" or the "Company"), a leading real estate Internet portal in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Highlights

  • Total revenues were $56.7 million, a decrease of 16.1% from $67.6 million in the corresponding period of 2019.
  • Operating income from continuing operations was $17.7 million, a decrease of 33.7% from $26.7 million in the corresponding period of 2019.
  • Net income was $10.9 million, an increase of 1,393.3% from $0.7 million in the corresponding period of 2019.

Third Quarter 2020 Financial Results

Revenues

Fang reported total revenues of $56.7 million in the third quarter of 2020, a decrease of 16.1% from $67.6 million in the corresponding period of 2019, mainly due to the decrease in revenues from listing services.   

  • Revenue from marketing services was $30.3 million in the third quarter of 2020, which remained relatively stable with $30.0 million in the corresponding period of 2019.
  • Revenue from listing services was $10.1 million in the third quarter of 2020, a decrease of 48.2% from $19.4 million in the corresponding period of 2019, mainly due to the decrease in the number of paying customer.
  • Revenue from leads generation services was $12.9 million in the third quarter of 2020, a decrease of 8.2% from $14.1 million in the corresponding period of 2019.
  • Revenue from financial services was $1.9 million in the third quarter of 2020, an increase of 9.0% from $1.7 million in the corresponding period of 2019, mainly due to an increase in average loan receivable balances.

Cost of Revenue

Cost of revenue was $5.1 million in the third quarter of 2020, a decrease of 11.0% from $5.7 million in the corresponding period of 2019, primarily due to optimization in cost structure.

Operating Expenses

Operating expenses were $35.1 million in the third quarter of 2020, a decrease of 3.9% from 36.5 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.

  • Selling expenses were $15.1 million in the third quarter of 2020, which remained relatively stable with $14.8 million in the corresponding period of 2019.
  • General and administrative expenses were $20.0 million in the third quarter of 2020, a decrease of 7.8% from $21.7 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.

Operating Income from Continuing Operations

Operating income from continuing operations was $17.7 million in the third quarter of 2020, a decrease of 33.7% from $26.7 million in the corresponding period of 2019, mainly due to the decrease in total revenue.

Change in Fair Value of Securities

Change in fair value of securities for the third quarter of 2020 was a gain of $19.4 million, compared to a loss of $26.1 million in the corresponding period of 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Expenses

Income tax expenses were $19.2 million in the third quarter of 2020, compared to income tax benefits of $0.1 million in the corresponding period of 2019, mainly due to the effect of change in fair value of equity securities.

Net Income

Net income was $10.9 million in the third quarter of 2020, an increase of 1,393.3% from net income of $0.7 million in the corresponding period of 2019.

Business Outlook

Based on current operations and market conditions, Fang’s management predicts a positive net income for the year of 2020, which represents management’s current and preliminary view and is subject to change.

Conference Call Information

Fang’s management team will host a conference call on the same day at 7:00 AM U.S. EST (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

1383200#

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 get into the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/2585897

A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on November 13, 2020 through 7:59 AM ET November 21, 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:

2585897

A live and archived webcast of the conference call will be available on Fang’s website at http://ir.fang.com.

About Fang

Fang operates a leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, Fang provides primarily marketing, listing, leads generation and financial services for China’s fast-growing real estate and home furnishing and improvement sectors. Its user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home furnishing and improvement sectors in China. Fang currently maintains approximately 74 offices to focus on local market needs and its website and database contains real estate related content covering 665 cities in China. For more information about Fang, please visit http://ir.fang.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 Fang’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 Fang’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 Fang’s business development strategies, 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 Fang’s filings with the U.S. Securities and Exchange Commission. Fang 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.

 

Fang Holdings Limited

Unaudited Condensed Consolidated Balance Sheets

(in thousands of U.S. dollars, except share data and per share data)

ASSETS

September 30,

December 31,

2020

2019

Current assets:

Cash and cash equivalents

111,848

105,282

Restricted cash, current

229,168

219,096

Short-term investments

253,135

194,720

Accounts receivable, net

98,999

66,379

Funds receivable

4,514

8,372

Prepayment and other current assets

32,494

31,509

Commitment deposits

193

188

Loans receivable, current

73,899

60,490

Amounts due from related parties

744

644

Total current assets 

804,994

686,680

Non-current assets:

Property and equipment, net

693,219

695,457

Deferred tax assets

3,145

6,570

Deposits for non-current assets

499

618

Restricted cash, non-current portion

44,086

42,452

Long-term investments

246,462

341,946

Other non-current assets

38,496

39,179

Total non-current assets

1,025,907

1,126,222

Total assets

1,830,901

1,812,902

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term loans

300,301

264,624

Short-term bond payable

106,209

102,779

Deferred revenue

132,895

134,143

Accrued expenses and other liabilities

112,971

120,244

Customers’ refundable fees

3,915

4,981

Income tax payable

14,733

4,207

Amounts due to related parties

12,472

9,227

Total current liabilities

683,496

640,205

Non-current liabilities:

Long-term loans

150,299

184,158

Convertible senior notes

168,452

168,929

Deferred tax liabilities

95,985

90,723

Other non-current liabilities

114,049

138,435

Total non-current liabilities

528,785

582,245

Total Liabilities  

1,212,281

1,222,450

Equity:

Class A ordinary shares, par value Hong Kong Dollar ("HK$") 1 per share,
600,000,000 shares authorized for Class A and Class B in aggregate, issued
shares as of December 31, 2019 and September 30, 2020: 71,775,686 and   

71,775,686; outstanding shares as of December 31, 2019 and September
30, 2020: 65,403,527 and 65,715,527

9,244

9,244

Class B ordinary shares, par value HK$1 per share, 600,000,000 shares
authorized for Class A and Class B in aggregate, and 24,336,650 shares
and 24,336,650 shares issued and outstanding as at December 31, 2019
and September 30, 2020, respectively

3,124

3,124

Treasury stock

(117,183)

(123,216)

Additional paid-in capital

540,049

528,620

Accumulated other comprehensive loss

(75,247)

(98,371)

Retained earnings

257,939

270,358

Total Fang Holdings Limited shareholders’ equity

617,926

589,759

Non controlling interests

694

693

Total equity

618,620

590,452

TOTAL LIABILITIES AND EQUITY

1,830,901

1,812,902

 

 

 

Unaudited Condensed Consolidated Statements of Comprehensive Income[i]

(in thousands of U.S. dollars, except share data and per share data)

Three months ended

September 30,

September 30,

2020

2019

Revenues:

Marketing services

30,273

29,993

Listing services

10,061

19,438

Leads generation services

12,948

14,099

Financial services

1,864

1,710

Value-added services

1,382

1,514

E-commerce services

149

796

Total revenues

56,677

67,550

Cost of revenues:

Cost of services

(5,066)

(5,694)

Total cost of revenues

(5,066)

(5,694)

Gross profit

51,611

61,856

Operating expenses and income:

Selling expenses

(15,077)

(14,822)

General and administrative expenses

(20,005)

(21,688)

Other income

1,191

1,385

Operating income

17,720

26,731

Foreign exchange (loss)/income

(5,138)

832

Interest income

3,192

1,562

Interest expense

(5,527)

(5,185)

Investment income

460

2,068

Realized gain on sale of available-for-sale
securities

–

711

Change in fair value of securities

19,393

(26,148)

Government grants

72

44

Income before income taxes and noncontrolling
interests

 

30,172

 

615

Income tax expense

Income tax (expense)/benefit

(19,241)

117

Net income

10,931

732

Net income attributable to noncontrolling
interests

–

–

Net income attributable to Fang Holdings Limited
shareholders

 

10,931

 

732

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

Basic

0.12

0.01

Diluted

0.12

0.01

[i] On June 19, 2020, a ratio change that had the same effect as a 1-for-10 reverse ADS split took effect, and
as a result, one ADS currently represents ten Class A ordinary shares.

 

Related Links :

http://www.fang.com

PR Newswire

The first industrial community planning in Chengdu is being launched in Pidu

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CHENGDU, China, Nov. 10, 2020 — On October 28, 2020, the development and governance planning of internationalization industry community of Jingrong Lake in Chengdu’s Pidu District was officially announced.

Centering on the electronic information industry function area and two IP status of "Snow Mountain mirring Jingrong Lake", According to the concept of park city, Focusing on Ching Yung Lake community, Pidu District is trying to deepen scene creation and scientific and systematic governance, so as to create an integrated industrial park city demonstration area in the whole area of Deyuan Street. It is worth mentioning that this is also the first industrial community planning in Chengdu. The plan is to be implemented in three stages between 2020 and 2025.

The internationalization industrial community of Jingong Lake in JingongTown of Pidu District is one of the representatives of the industry community in the city, which is most in line with the relevant indicators in the Status of The Guidelines. With a planned area of 22 square kilometers, over 30,000 industrial talents, the proportion of the upper-level population is rising gradually, and the age structure is getting younger. As a result, employment is likely to be in the direction of technology and RESEARCH and development.

Open the scene map of Jingrong Lake International Industrial Community. Sheraton Hotel and Ace International School are under construction. The layout of Guangdong, Hong Kong, Macao (Chengdu) International Convention and Exhibition Center and other high-end business forms was completed. Within a radius of 3 kilometers, there is a people’s Hospital in Pidu District, Chinese Medicine hospital in Pidu District, a government center, library, gym, food street, an intelligent residence in Pidu City, a kindergarten, a streetcar and other facilities. In this way, a convenient and complete "15-minute life circle" can be basically formed.

As an important functional supporting area for the electronic information industry of a trillion level, an industrial park city demonstration area integrating multiple functions including production, research and development, residence, consumption, service and ecology, and an example of the deep integration of high-quality ecological livable place and human-urban industry are rising rapidly.

 

PR Newswire

E-House to Become Leju’s Majority Shareholder; E-House, Alibaba and Leju to Jointly Build Online Real Estate Platform; Alibaba to Increase Stake in E-House

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BEIJING, July 31, 2020 — Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China, today announced that it has become aware that E-House (China) Enterprise Holdings Limited ("E-House") (Stock Code: 2048), listed on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), has entered into definitive agreements with Mr. Xin Zhou, Leju’s executive chairman, and certain of his affiliated entities ("Zhou Parties"), and SINA Corporation and its affiliated entity ("SINA Parties"), to acquire an aggregate of 56.19% interest in the issued share capital of Leju. 

To Leju’s knowledge, pursuant to the agreements, E-House has conditionally agreed to purchase (i) 49,686,192 ordinary shares and 2,239,804 ADSs (each representing one ordinary share) of Leju from the Zhou Parties by issuing to the Zhou Parties 166,918,440 of its ordinary shares ("E-House Shares"), and (ii) 24,438,564 ordinary shares and 36,687 ADSs (each representing one ordinary share) of Leju from the SINA Parties by issuing to the SINA Parties 78,676,790 E-House Shares. The completion of these transactions is subject to certain closing conditions, including the approval by the requisite majority of shareholders or independent shareholders of E-House and the granting of the approval for the listing of, and permission to deal in, the E-House Shares by the Hong Kong Stock Exchange. Upon completion of these transactions, Leju will become a subsidiary of E-House and its financial results will be consolidated into the accounts of E-House.

In addition, E-House announced the establishment of strategic cooperation with Alibaba Group Holding Limited (NYSE, BABA, 09988.HK) ("Alibaba"). According to a business cooperation agreement entered into between E-House and a subsidiary of Alibaba, the two parties will cooperate in areas including online-offline real estate transaction, digital marketing and after-sale services with the goal of enhancing the digital and intellectual capabilities of the real estate service industry. Alibaba will closely collaborate with E-House and Leju to build an online real estate marketing platform and digital transaction network, with E-House being the operator of online transaction services on the platform and Leju being the operator of digital marketing services.

Also to Leju’s knowledge, Alibaba has agreed to (i) subscribe for E-House Shares to be issued by E-House, which will increase Alibaba’s stake in E-House to approximately 8.32%, and (ii) subscribe for a convertible note to be issued by E-House that is convertible into E-House Shares. Assuming full conversion of the convertible note, Alibaba will own a total 13.26% of the issued share capital of E-House, making it the second largest shareholder of E-House.  

"The cooperation between E-House and Alibaba is not only a key milestone in E-House’s and Leju’s development, but also a significant event in China’s real estate service industry," said Mr. Xin Zhou, Leju’s executive chairman. "In the process of collaborating with E-House and Alibaba to build an online real estate marketing and transaction platform, Leju will leverage its experience in online marketing and transaction service and become the service provider for digital marketing and operation on the platform. This will greatly enhance Leju’s core value and competitiveness."

About Leju

Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading e-commerce and online media platform for real estate and home furnishing industries in China, offering real estate e-commerce, online advertising and online listing services. Leju’s integrated online platform comprises various mobile applications along with local websites covering more than 380 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company’s own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These 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," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Leju’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement All information provided in this press release is as of the date of this press release, and Leju does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com

Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com

PR Newswire

Danke Partners with SF.Freight, Huolala to Provide One-click Moving Service for China College Grads

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BEIJING, July 9, 2020 — Phoenix Tree Holdings Limited (“Danke” or the “Company”) (NYSE: DNK), one of the largest co-living platforms in China with the fastest growth, has teamed up with leading logistics service provider SF.Freight and on-demand delivery provider Huolala to offer one-click moving service for college graduates in China.

 

With the impact of the COVID-19 pandemic and resulting travel restrictions, college graduates face many challenges in moving their belongings out of their on-campus dorms. To help college graduates move out smoothly, Danke is offering coupons valued at up to RMB100 for shipment of oversized packages using SF.Freight, and for moving services provided by Huolala, respectively. Whether for an intra-city move, or for shipping long distance or across the country, these services are extremely helpful and therefore in high demand among college graduates. The launch of Danke’s one-click moving service, in collaboration with SF.Freight and Huolala, guarantees a hassle-free moving experience for recent college graduates, while also providing a measure of financial support.

To help college graduates find affordable apartments and settle down in their desired cities after graduation, Danke provides a complete rental solution, including high-quality standardized and furnished apartments, best-in-class services, and online/offline community activities through its Starling Project. More than one million graduates from over 2,000 colleges and universities have benefited from the project over the past four years.

As a leading co-living platform in China, Danke pioneered an innovative ”new rental” business model, which features centralization, standardization and online experience to address the numerous pain points suffered by both individual property owners and renters. Founded in 2015, Danke now operates in 13 major cities around the country and provides its young and well-educated residents with affordable, comfortable and stylish apartments.

ABOUT DANKE

Danke, one of the largest co-living platforms in China with the fastest growth, is redefining the residential rental market through technology and aims to help people live better. Empowered by data, technology, and a large-scale apartment network, Danke’s vibrant and expanding ecosystem connects and benefits property owners, residents, and third-party service providers, and delivers quality and best-in-class services through an innovative “new rental” business model featuring centralization, standardization, and a seamless online experience. Danke was founded in 2015 and is headquartered in Beijing, China. For more information, please visit ir.danke.com.

CONTACTS

Danke PR
Email: pr@danke.com

Edmond Lococo
ICR, Inc.
Email: DankePR@icrinc.com
Phone: +86 138-1079-1408

 

Related Links :

http://ir.danke.com

PR Newswire

Propzy Raises $25M Fund from Gaw Capital and Softbank Ventures Asia

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HO CHI MINH CITY, Vietnam, June 10, 2020 /PRNewswire/ — Propzy, a full-stack real estate platform based in Vietnam, has raised $25 million in a Series A round of funding led by Gaw Capital and Softbank Ventures, along with new and existing investors, Next Billion Ventures, RHL Ventures Breeze, FEBE Ventures, RSquare, and Insignia. 

Propzy
Propzy

With the investment, Propzy commits to simplifying real estate transactions, from beginning to end, and managing the assets or logistics to streamline the entire real estate lifecycle, such as leasing and purchasing of landed houses and high-rise condos.

The company will also continue its expansion into leasing services by leveraging the online to offline capabilities of its platform, which has recorded 50% month-over-month growth.

 As the only “firetech” (financial, insurance and real estate technology) company in Vietnam, the company pioneered the hybrid online to offline model that offers a full-stack real estate platform.

“Propzy is an example of the many macroeconomic successes in Vietnam. With its innovative breakthrough in real estate’s offline to online business models, we see the immense potential of Propzy to skyrocket,” said Gaw Capital’s Managing Partner, Humbert Pang.

Vietnam has emerged as a thriving real estate market in Southeast Asia. Despite the global crisis and coronavirus pandemic, Vietnam has reached its target of over 5% GDP growth in 2020. 

Despite this, however, the real estate industry still lags in terms of its adoption of new technology. 

“Sellers see uncovering buyers needs as a headache that slows the buying process. Therefore, we invited a group of world-class investors to provide an advanced solution. With the largest number of estate agents in Vietnam – around 400 sales staff operating in 30 locations – we have facilitated over $1 billion in property transactions since inception and anticipate another record-setting year of growth, as we continue to expand,” said Founder and CEO of Propzy, John Le.

Vietnam’s robust economy is one of the fastest-growing in Southeast Asia. Research by the World Bank found that 70% of Vietnam’s population is considered economically secure. Propzy is now well-positioned to scale its market leadership to 70 centers and 1,300 advisors nationwide over the next 18 months.

“The security that the Vietnamese economy offers to property investors and homebuyers is ideal for Propzy to thrive. We are excited to support the company in its mission to enable a 10X consumer experience in real estate,” said Daniel Kang, Senior Partner of SoftBank Ventures Asia.

About Propzy

Founded in 2016 by Mr. John Le, Propzy is a full-stack real estate platform and integrated marketplace offering open house, closing-settlement services, and turn-key mortgage financing. The founder is a multiple exit serial entrepreneur behind numerous leading fintech companies, including LoanTrader and Portellus, with blue-chip investment from Goldman Sachs, CitiGroup, GE Capital, Zurich, FBR Capital and IAC.

About SoftBank Ventures Asia

Founded in 2000, SoftBank Ventures Asia is the early-stage venture arm of SoftBank Group. Their expertise lies in ICT investments including AI, IoT, and smart robotics. They look for early to growth-stage startups that have strong business potential in the global market and assist them to be plugged into the SoftBank ecosystem by facilitating side-by-side growth.

About Gaw Capital Partners

Gaw Capital Partners is private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate, the firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

Photo – https://photos.prnasia.com/prnh/20200609/2825006-1?lang=0