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China Index Holdings Limited (CIH)

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2.0800+0.2400 (+13.04%)
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Neutralpattern detected
Previous Close1.8400
Open2.0200
Bid0.0000 x 800
Ask2.2700 x 3200
Day's Range2.0200 - 2.1400
52 Week Range0.9380 - 3.8200
Volume651,019
Avg. Volume194,203
Market Cap187.3M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateNov 11, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    China Index Holdings Announces Receipt of Non-Binding “Going Private” Proposal

    BEIJING, Nov. 30, 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 that its board of directors (the “Board”) has received a preliminary non-binding proposal letter (the “Proposal Letter”), dated November 30, 2020, from General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities, “General Atlantic”, as the “Proposing Buyer”), proposing to acquire all of the outstanding Class A ordinary shares, with a par value of US$0.001 each and Class B ordinary shares, par value US$0.001 each (collectively, the “Shares”) and the American depositary shares (each American depositary shares representing one Class A ordinary share, par value US$0.001 each, the “ADSs”) of the Company not already beneficially owned by the Proposing Buyer in a “going-private” transaction. The consideration payable for each Share and each ADS to be acquired will be US$2.32 in cash, subject to certain conditions. According to the Proposal Letter, the US$2.32 per Share/ADS price represents a premium of 25% to the Company’s stock price as of the close of business on November 27, 2020 and a premium of approximately 33% to the Company’s 30-day volume weighted average price up to November 27, 2020. According to the Proposal Letter, the Proposing Buyer plans to finance the acquisition primarily with equity capital, and possibly debt capital. The Proposal Letter states that the equity portion of the financing would be provided by the Proposing Buyer and additional potential buyer consortium members, if any. A copy of the Proposal Letter is attached hereto as Annex A.The Board will evaluate the proposed transaction independently. The Board cautions the Company’s shareholders and others considering trading the Company’s securities that the Board has just received the Proposal Letter and has not had an opportunity to carefully review and evaluate the proposal or make any decision with respect to the Company’s response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.About CIHCIH 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.About General AtlanticGeneral Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic has more than 180 investment professionals based in New York, Greenwich, Palo Alto, São Paulo, London, Munich, Mexico City, Beijing, Shanghai, Hong Kong, Mumbai, Amsterdam, Singapore and Jakarta. General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with management teams to build exceptional businesses worldwide. General Atlantic has approximately $40 billion in assets under management, and the firm’s unique capital base is comprised of long-term commitments primarily from wealthy families and large charitable foundations; this affords General Atlantic with flexibility in investment structures and time horizon, enabling a strong partnership approach with growth companies.Safe Harbor StatementsThis 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.All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the approval and the consummation of the potential transaction contemplated by the Proposal Letter or any alternative transaction. 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. Forward-looking statements involve inherent risks and uncertainties and are based on current expectations, assumptions, estimates and projections about CIH and the industry, 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. Although CIH believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Annex A General Atlantic Singapore Fund Pte. Ltd 8 Marina View, 41-04 Asia Square Tower 1 Singapore 018960 Reg201106196Z Tel +65 6661 6700 Fax +65 6442 0323 www.generalatlantic.com Preliminary Non-Binding Proposal  to Acquire All Outstanding Shares and American Depositary Shares in China Index Holdings LimitedNovember 30, 2020The Board of DirectorsChina Index Holdings Limited Tower A, No. 20 Guogongzhuang Middle Street Fengtai District, Beijing 100070 The People’s Republic of China Dear Board Members:General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities, “General Atlantic”, as the “Proposing Buyer”) hereby submits this preliminary non-binding proposal (the “Proposal”) to acquire all of the outstanding shares and American Depositary Shares (“ADSs”, each representing one Class A ordinary share), of China Index Holdings Limited (the “Company”), not already beneficially owned by General Atlantic (the proposed “Transaction”).We believe that our Proposal provides an attractive opportunity for the Company’s shareholders, especially during a time of persisting operating difficulty and ongoing COVID-19 uncertainty. The Proposal represents a premium of 25% to the Company’s stock price as of the close of business on November 27, 2020 and a premium of approximately 33% to the Company’s 30-day volume weighted average price up to November 27, 2020.Set forth below are the primary terms of our Proposal: 1. Purchase Price. We propose to acquire all of the outstanding ordinary shares and ADSs of the Company not already beneficially owned by General Atlantic. The consideration payable for each ordinary share and each ADS to be acquired will be US$2.32 in cash. 2. Funding. We intend to finance the Transaction primarily with equity capital, and possibly debt capital. Equity financing will be provided from us as the Proposing Buyer and additional potential buyer consortium members, if any. 3. Due Diligence. We believe that we will be in a position to complete customary due diligence for the Transaction in a timely manner and in parallel with discussions of corresponding definitive agreements. 4. Definitive Agreements. We are prepared to promptly negotiate and finalize definitive agreements (“Definitive Agreements”) for the Transaction. These documents will provide for representations, warranties, covenants and conditions which are typical, customary and appropriate for transactions of this type. 5. Process. We believe that the Transaction will provide superior value to the Company’s shareholders. We recognize that the Company’s Board of Directors will likely need to evaluate the Transaction independently before the Company can make any determinations. 6. About General Atlantic. General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic has more than 180 investment professionals based in New York, Greenwich, Palo Alto, São Paulo, London, Munich, Mexico City, Beijing, Shanghai, Hong Kong, Mumbai, Amsterdam, Singapore and Jakarta. General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with management teams to build exceptional businesses worldwide. General Atlantic has approximately $40 billion in assets under management, and the firm’s unique capital base is comprised of long-term commitments primarily from wealthy families and large charitable foundations; this affords General Atlantic with flexibility in investment structures and time horizon, enabling a strong partnership approach with growth companies. 7. No Binding Commitment. This letter constitutes only a preliminary indication of our interest, and does not constitute any binding commitment with respect to the Transaction. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions provided in such documentation.We would like to express our commitment to working collaboratively with the Company to bring this Transaction to a successful and timely conclusion. Should you have any questions regarding this proposal, please do not hesitate to contact us.Sincerely,General Atlantic Singapore Fund Pte. Ltd./s/ Ong Yu HuatOng Yu Huat Director CONTACT: For investor and media inquiries, please contact: Ms. Jessie Yang Investor Relations Email: CIH-IR@fang.com

  • GlobeNewswire

    China Index Holdings to Hold 2020 Annual General Meeting on December 18, 2020

    BEIJING, Nov. 17, 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 that it will hold its 2020 annual general meeting of shareholders (the “AGM”) at F15, Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, People’s Republic of China on December 18, 2020 at 10 a.m., Beijing time. No proposal will be submitted for shareholder approval at the AGM. Instead, the AGM will serve as an open forum for shareholders of record and beneficial owners of the Company's American depositary shares (“ADSs”) to discuss Company affairs with the management. The board of directors of the Company has fixed the close of business on November 18, 2020 as the record date (the “Record Date”) for determining the shareholders entitled to receive notice of the AGM or any adjournment or postponement thereof.Holders of record of the Company’s Class A and Class B ordinary shares (the “Ordinary Shares”) at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person. Beneficial owners of the Company’s ADSs are welcome to attend the AGM in person.The Company filed its annual report on Form 20-F (the “Annual Report”) for the fiscal year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2020. The Annual Report can be accessed on the Company’s investor relations website at http://ir.chinaindexholdings.com/, as well as on the SEC’s website at http://www.sec.gov/.Holders of the Company’s Ordinary Shares or ADSs may obtain a hard copy of the Annual Report, free of charge, by sending an email to CIH-IR@fang.com or by writing to the Investor Relations Department of the Company at F15, Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, People’s Republic of China.About CIHCIH 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 StatementsThis 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. CONTACT: For investor and media inquiries, please contact: Ms. Jessie Yang Investor Relations Email: CIH-IR@fang.com

  • GlobeNewswire

    China Index Holdings Announces Third Quarter 2020 Unaudited Financial Results

    BEIJING, Nov. 11, 2020 (GLOBE NEWSWIRE) -- China Index Holdings Limited (NASDAQ: CIH), (“CIH” or the “Company”), a leading real estate information and analytics service platform provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.  Third Quarter 2020 Highlights * Total revenues were RMB170.9 million, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019. * Operating income was RMB86.5 million, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019. * Net income was RMB76.1 million, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Third Quarter 2020 Financial Results RevenuesCIH reported total revenues of RMB170.9 million in the third quarter of 2020, an increase of 8.0% from RMB158.3 million in the corresponding period of 2019. * Revenues from information and analytics services (SaaS) were RMB88.8 million in the third quarter of 2020, an increase of 14.4% from RMB77.6 million in the corresponding period of 2019, primarily due to an increase in number of customers. * Revenues from marketplace services were RMB82.1 million in the third quarter of 2020, an increase of 1.7% from RMB80.7 million in the corresponding period of 2019.Cost of RevenueCost of revenue was RMB29.3 million in the third quarter of 2020, which remained stable compared to RMB29.2 million in the corresponding period of 2019.Operating Expenses Operating expenses were RMB55.2 million in the third quarter of 2020, an increase of 5.1% from RMB52.5 million in the corresponding period of 2019. * Selling and marketing expenses were RMB30.3 million in the third quarter of 2020, an increase of 10.2% from RMB27.5 million in the corresponding period of 2019, primarily due to an increase in personnel costs resulting from the growing number of selling and marketing personnel headcount. * General and administrative expenses were RMB24.9 million in the third quarter of 2020, which remained stable compared to RMB25.0 million in the corresponding period of 2019.Operating IncomeOperating income was RMB86.5 million in the third quarter of 2020, an increase of 12.9% from RMB76.6 million in the corresponding period of 2019.Income Tax ExpensesIncome tax expenses were RMB13.4 million in the third quarter of 2020, an increase of 21.8% from RMB11.0 million in the corresponding period of 2019.Net Income Net income was RMB76.1 million in the third quarter of 2020, an increase of 15.3% from RMB66.0 million in the corresponding period of 2019.Business Outlook Based on current operations and market conditions, the management remains confident to believe that the Company will maintain a double-digit growth momentum both on its annual revenue and on its net profits for the fiscal year ending December 31, 2020. These estimates represent management’s current and preliminary view, which are subject to change. Conference Call Information CIH’s management team will host a conference call on November 11, 2020 at 7:00 AM U.S. ET (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are: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 Passcode1383200 Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1383200) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1383200), and your unique Registrant ID, followed by the pound or hash sign () to join the call. Direct Event online registration: http://apac.directeventreg.com/registration/event/9877938 A telephone replay of the call will be available after the conclusion of the conference call from 10:00 AM ET on November 11, 2020 through 07:59 AM ET November 19, 2020. The dial-in details for the telephone replay are: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:9877938 A live and archived webcast of the conference call will be available at http://ir.chinaindexholdings.com.About CIHCIH operates a leading real estate information and analytics service platform in China in terms of geographical coverage and volume of data points. Its services span across database, analytics, promotions and listing services for China's real estate markets. CIH serves a substantial base of real estate participants in China, including real estate developers, brokers and agents, property management companies, financial institutions and individual professionals, with a reliable, comprehensive and seasonable collection of real estate data, complemented by a variety of powerful analytical and marketing tools. For more information about CIH, please visit http://ir.chinaindexholdings.com.Safe Harbor Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions, and include, without limitation, statements regarding CIH’s future financial performance, revenue guidance, growth and growth rates and market position. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond CIH’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in CIH’s filings with the U.S. Securities and Exchange Commission. CIH does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.   CHINA INDEX HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Renminbi (“RMB”), except for share data)              As of September 30,   As of December 31,     2020    2019           ASSETS       Current assets:       Cash and cash equivalents 139,835   214,076   Short-term investments 417,265   125,000   Accounts receivable, net of allowance for doubtful accounts 42,482   24,243   Prepaid expenses and other current assets 3,340   4,566   Amount due from related parties 23,351   4,820   Total current assets 626,273   372,705           Non-current assets:       Property and equipment, net 2,387   2,873   Right of use assets 45,676   49,595   Total non-current assets 48,063   52,468           Total assets 674,336   425,173           LIABILITIES AND EQUITY       Current liabilities:       Accounts payable 6,408   7,844   Income taxes payable 16,672   23,396   Deferred revenue 252,958   203,531   Amounts due to a related party -   7,734   Accrued expenses and other liabilities 86,815   84,250   Total current liabilities 362,853   326,755           Non-current liabilities:       Long-term lease liability 26,828   37,679   Other non-current liabilities 54,115   39,757   Total non-current liabilities 80,943   77,436           Total liabilities 443,796   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 September 30, 2020 and December 31, 2019; outstanding shares as of September 30, 2020 and December 31, 2019: 66,411,428 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 September 30, 2020 and December 31, 2019 163   163   Treasury shares  (42)  (46)  Capital deficit (128,284)  (135,179)  Retained earnings  357,578   155,324   Accumulated other comprehensive income  625   220   Total equity 230,540   20,982            Total liabilities and equity 674,336   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 September 30   2020  2019          Revenues 170,929  158,250  Cost of revenues (29,258) (29,165) Gross profit 141,671  129,085          Operating expenses:       Selling and marketing expenses (30,258) (27,427) General and administrative expenses (24,918) (25,028) Operating income  86,495  76,630  Interest income 411  1,137  Change in fair value of warrants -  (1,399) Gains on sale of short-term investments 1,815  -  Government grants 698  663          Income before income taxes  89,419  77,031  Income tax expenses (13,362) (11,001)         Net income  76,057  66,030          Other comprehensive income (loss)        Foreign currency translation adjustments, net of nil income taxes 87  (71) Unrealized holding gains on short-term investments net of RMB331 and nil income taxes for the periods ended September 30, 2020 and 2019 1,875  -  Less: Reclassification adjustment for gains on short-term investments realized in net income, net of RMB272 and nil income taxes for the periods ended September 30, 2020 and 2019 (1,543) -          Total comprehensive income  76,476  65,959          Earnings per share for Class A and Class B ordinary shares:       Basic 0.84   0.74  Diluted 0.84   0.73  Weighted average number of Class A and Class B ordinary shares and ordinary shares equivalents outstanding:       Basic 89,843,594   89,410,461  Diluted 90,249,500   90,133,853  CONTACT: For investor and media inquiries, please contact: Ms. Jessie Yang Investor Relations Email: CIH-IR@fang.com