UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

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

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2019

 


 

Commission File Number: 001-36396

 


 

LEJU HOLDINGS LIMITED

 

15/F Floor, Shoudong International Plaza, No. 5 Building, Guangqu Home

Dongcheng District, Beijing 100022

People’s Republic of China

(Address of principal executive offices)

 

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

 

Form 20-F        x              Form 40-F        o

 

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

 

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

 

 

 


 

SIGNATURE

 

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

 

 

Leju Holdings Limited

 

 

 

 

 

 

 

 

 

By

:

/s/ Li-Lan Cheng

 

Name

:

Li-Lan Cheng

 

Title

:

Chief Financial Officer

 

Date: March 19, 2019

 

[Signature Page to 6-K]

 

2


 

Exhibit Index

 

Exhibit 99.1 — Press Release

 

3


Exhibit 99.1

 

Leju Reports Fourth Quarter and Full Year 2018 Results

 

BEIJING, March 18, 2019 — Leju Holdings Limited (“Leju” or the “Company”) (NYSE: LEJU), a leading online-to-offline (“O2O”) real estate services provider in China, today announced its unaudited financial results for the fiscal quarter and full year ended December 31, 2018.

 

Fourth Quarter 2018 Financial Highlights

 

·                      Total revenues increased by 17% year-on-year to $124.2 million.

 

·                      Revenues from e-commerce services increased by 16% year-on-year to $82.4 million.

·                      Revenues from online advertising services increased by 25% year-on-year to $40.9 million.

 

·                      Loss from operations was $0.8 million, a decrease of 97% from $25.4 million for the same quarter of 2017.

 

·                      Non-GAAP1 income from operations was $3.3 million, compared to non-GAAP loss from operations of $21.7 million for the same quarter of 2017.

 

·                      Net income attributable to Leju Holdings Limited shareholders was $1.4 million, or $0.01 per diluted American depositary share (“ADS”), compared to net loss attributable to Leju Holdings Limited shareholders of $22.3 million, or $0.16 loss per diluted ADS, for the same quarter of 2017.

 

·                      Non-GAAP net income attributable to Leju Holdings Limited shareholders was $4.7 million, or $0.03 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings Limited shareholders of $19.2 million, or $0.14 loss per diluted ADS, for the same quarter of 2017.

 

Full Year 2018 Financial Highlights

 

·                      Total revenues increased by 27% year-on-year to $462.0 million.

 

·                      Revenues from e-commerce services increased by 36% year-on-year to $320.3 million.

·                      Revenues from online advertising services increased by 22% year-on-year to $138.4 million.

 

·                      Loss from operations was $11.0 million, a decrease of 94% from $183.9 million for 2017.

 

·                      Non-GAAP income from operations was $6.1 million, compared to non-GAAP loss from operations of $125.9 million for 2017.

 

·                      Net loss attributable to Leju Holdings Limited shareholders was $13.5 million, or $0.10 loss per diluted ADS, a decrease of 92% from $160.9 million, or $1.19 loss per diluted ADS for 2017.

 

·                      Non-GAAP net income attributable to Leju Holdings Limited shareholders was $0.4 million, or $0.00 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings of $105.0 million, or $0.77 loss per diluted ADS for 2017.

 


1    Leju uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to Leju shareholders, (4) net income (loss) attributable to Leju shareholders per basic ADS, and (5) net income (loss) attributable to Leju shareholders per diluted ADS, each of which excludes share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment, and income tax impact on the share-based compensation expense, amortization of intangible assets resulting from business combinations, and goodwill impairment. See “About Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” below for more information about the non-GAAP financial measures included in this press release.

 

1


 

“Leju returned to profitability (Non-GAAP) during 2018 as a result of our ongoing innovation and organizational optimization, despite the lack of significant improvement in the overall market environment,” said Mr. Geoffrey He, Leju’s Chief Executive Officer. “We successfully implemented our ‘New Media, New Ecosystem, and New E-commerce’ business strategy formulated at the beginning of 2018. Leju Finance enhanced its media influence through improved content productivity and leveraged its revamped operating model across our new media platform, which integrates content and distributes edited news across multiple channels. We delivered healthy growth in our online advertising segment, which relies on our Cloud-Eye big data capability, Admall open system and mini-app open platform. In addition, our e-commerce services saw a substantial recovery and further increased market share as a result of product innovation and business expansion in lower tier cities, coupled with our top-down strategy, which enables us to grow our project pipeline by entering into framework contracts with property developers.”

 

“Since the end of 2018, we have seen increasing demand for marketing services from developers as a result of changes in real estate market conditions,” continued Mr. He. “Looking to the year ahead, we will aim to capture opportunities to further solidify our leading market position in media, advertising and e-commerce services. In addition, we have completed our corporate restructuring, which has helped to improve operational efficiency and lay a solid foundation for our future growth.”

 

Fourth Quarter 2018 Results

 

Total revenues were $124.2 million, an increase of 17% from $106.4 million for the same quarter of 2017, mainly due to an increase in revenues from e-commerce services and online advertising services.

 

Revenues from e-commerce services were $82.4 million, an increase of 16% from $71.2 million for the same quarter of 2017, primarily due to an increase in the average price per discount coupon redeemed, partially offset by a decrease in the number of discount coupons redeemed.

 

Revenues from online advertising services were $40.9 million, an increase of 25% from $32.7 million for the same quarter of 2017, primarily due to an increase in property developers’ demand for online advertising.

 

Revenues from listing services were $1.0 million, a decrease of 61% from $2.4 million for the same quarter of 2017, primarily due to a decrease in secondary real estate brokers’ demand.

 

Cost of revenues was $18.9 million, a decrease of 4% from $19.6 million for the same quarter of 2017, primarily due to decreased staff cost as a result of headcount change, partially offset by increased cost of advertising resources purchased from media platforms.

 

Selling, general and administrative expenses were $106.1 million, a decrease of 5% from $112.3 million for the same quarter of 2017, primarily due to decreased staff cost as a result of headcount change, and decreased office and other operating expenses, partially offset by increased marketing expenses related to the Company’s e-commerce business.

 

Loss from operations was $0.8 million, compared to $25.4 million for the same quarter of 2017. Non-GAAP income from operations was $3.3 million, compared to non-GAAP loss from operations of $21.7 million for the same quarter of 2017.

 

Other income, net was $2.1 million, compared to $1.1 million for the same quarter of 2017, primarily due to $1.9 million foreign exchange gain recognized for the fourth quarter of 2018.

 

Net income was $2.1 million, compared to net loss of $22.5 million for the same quarter of 2017. Non-GAAP net income was $5.4 million, compared to non-GAAP net loss of $19.4 million for the same quarter of 2017.

 

2


 

Net income attributable to Leju Holdings Limited shareholders was $1.4 million, or $0.01 per diluted ADS, compared to net loss attributable to Leju Holdings Limited shareholders of $22.3 million, or $0.16 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $4.7 million, or $0.03 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings Limited shareholders of $19.2 million, or $0.14 loss per diluted ADS, for the same quarter of 2017.

 

Full Year 2018 Results

 

Total revenues were $462.0 million, an increase of 27% from $362.5 million for 2017, mainly due to an increase in revenues from e-commerce services and online advertising services.

 

Revenues from e-commerce services were $320.3 million, an increase of 36% from $234.8 million for 2017, primarily due to an increase in the average price per discount coupon redeemed, partially offset by a decrease in the number of discount coupons redeemed.

 

Revenues from online advertising services were $138.4 million, an increase of 22% from $113.2 million for 2017, primarily due to an increase in property developers’ demand for online advertising.

 

Revenues from listing services were $3.4 million, a decrease of 77% from $14.5 million for 2017, primarily due to a decrease in demand from secondary real estate brokers.

 

Cost of revenues was $72.9 million, a decrease of 2% from $74.1 million for 2017, primarily due to decreased staff costs as a result of headcount changes and decreased amortization expenses of intangible assets, partially offset by increased cost of advertising resources purchased from media platforms.

 

Selling, general and administrative expenses were $402.3 million, a decrease of 7% from $434.3 million for 2017, primarily due to decreased staff costs as a result of headcount change, and partially offset by increased marketing expenses related to the Company’s e-commerce business.

 

Loss from operations was $11.0 million, compared to $183.9 million for 2017. Non-GAAP income from operations was $6.1 million, compared to non-GAAP loss from operations of $125.9 million for 2017.

 

Other loss, net was $4.2 million, compared to other income of $0.5 million for 2017, primarily due to $3.8 million foreign exchange loss recognized for 2018.

 

Net loss was $12.9 million, compared to $162.0 million for 2017. Non-GAAP net income was $1.0 million, compared to non-GAAP net loss of $106.1 million for 2017.

 

Net loss attributable to Leju Holdings Limited shareholders was $13.5 million, or $0.10 loss per diluted ADS, compared to $160.9 million, or $1.19 loss per diluted ADS for 2017. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $0.4 million, or $0.00 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings of $105.0 million, or $0.77 loss per diluted ADS for 2017.

 

Cash Flow

 

As of December 31, 2018, the Company’s cash and cash equivalents balance was $147.3 million.

 

Fourth quarter 2018 net cash used in operating activities was $20.4 million, primarily comprised of an increase in accounts receivable and contract assets of $13.2 million, an increase in customer deposit of $4.4 million, a decrease in accounts payable of $3.8 million and a decreased in other payables of $3.7 million, partially offset by non-GAAP net income of $5.4 million.

 

3


 

Business Outlook

 

The Company estimates that its total revenues for the first quarter of 2019 will be approximately $90 million to $94 million, which would represent an increase of approximately 10% to 15% from $81.5 million in the same quarter in 2018. This forecast reflects the Company’s current and preliminary view, which is subject to change.

 

Conference Call Information

 

Leju’s management will host an earnings conference call on March 18, 2019 at 7 a.m. U.S. Eastern Time (7 p.m. Beijing/Hong Kong time).

 

Dial-in details for the earnings conference call are as follows:

 

U.S./International:

+1-845-675-0437

Hong Kong:

+852-3018-6771

Mainland China:

400-620-8038

 

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is “Leju earnings call”.

 

A replay of the conference call may be accessed by phone at the following number until March 26, 2019:

 

U.S./International:

+1-855-452-5696

Hong Kong:

800-963-117

Mainland China:

400-632-2162

Passcode:

9445779

 

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 online-to-offline, or O2O, real estate services provider 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 370 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: Forward-Looking Statements

 

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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,” “target,” “going forward,” “outlook” and similar statements. Leju may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Leju’s beliefs and expectations, are forward-looking statements that involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements. Such factors include, but are not limited to, fluctuations in China’s real estate market; the highly regulated nature of, and government measures affecting, the real estate and internet industries in China; Leju’s ability to compete successfully against current and future competitors; its ability to continue to develop and expand its content, service offerings and features, and to develop or incorporate the technologies that support them; its limited operating history and lack of experience as a stand-alone public company, given its carve-out from E-House and prior reliance on E-House for various corporate services; its reliance on SINA and others with which it has developed, or may develop in the future, strategic partnerships; substantial revenue contribution from a limited number of real estate markets; complexities resulting from its ongoing relationships with E-House, due to E-House’s status as a principal shareholder of Leju; and relevant government policies and regulations relating to the corporate structure, business and industry of Leju. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company 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 applicable law.

 

4


 

About Non-GAAP Financial Measures

 

To supplement Leju’s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Leju uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to Leju shareholders, (4) net income (loss) attributable to Leju shareholders per basic ADS, and (5) net income (loss) attributable to Leju shareholders per diluted ADS, each of which excludes share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment, and income tax impact on the share-based compensation expense, amortization of intangible assets resulting from business combinations, and goodwill impairment. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.

 

Leju believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding its operating performance by excluding share-based compensation expense, amortization of intangible assets resulting from business acquisitions, and goodwill impairment, which may not be indicative of Leju’s operating performance. These non-GAAP financial measures also facilitate management’s internal comparisons to Leju’s historical performance and assist its financial and operational decision making. A limitation of using these non-GAAP financial measures is that share-based compensation expense, amortization of intangible assets resulting from business acquisitions, and goodwill impairment may continue to exist in Leju’s business for the foreseeable future. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables provide more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures.

 

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

 

5


 

LEJU HOLDINGS LIMITED

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2018

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

 

150,968

 

147,263

 

Restricted cash

 

337

 

 

Accounts receivable, net

 

79,196

 

102,697

 

Contract assets

 

1,410

 

2,137

 

Marketable securities

 

3,077

 

2,467

 

Prepaid expenses and other current assets

 

9,945

 

8,621

 

Customer deposits

 

35,823

 

10,672

 

Amounts due from related parties

 

4,077

 

6,695

 

Total current assets

 

284,833

 

280,552

 

Property and equipment, net

 

14,240

 

14,058

 

Intangible assets, net

 

70,631

 

57,401

 

Investment in affiliates

 

146

 

63

 

Deferred tax assets

 

67,084

 

62,356

 

Other non-current assets

 

2,010

 

2,297

 

Total assets

 

438,944

 

416,727

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

Current liabilities

 

 

 

 

 

Accounts payable

 

2,950

 

803

 

Accrued payroll and welfare expenses

 

37,082

 

30,628

 

Income tax payable

 

63,380

 

58,030

 

Other tax payable

 

11,654

 

12,675

 

Amounts due to related parties

 

3,093

 

3,477

 

Advance from customers and deferred revenue

 

10,565

 

26,873

 

Accrued marketing and advertising expenses

 

18,852

 

14,896

 

Other current liabilities

 

16,315

 

12,999

 

Total current liabilities

 

163,891

 

160,381

 

Deferred tax liabilities

 

18,016

 

14,780

 

Total liabilities

 

181,907

 

175,161

 

 

 

 

 

 

 

Shareholders’ Equity

 

 

 

 

 

Ordinary shares ($0.001 par value): 1,000,000,000 shares authorized, 135,763,962 and 135,763,962 shares issued and outstanding, as of December 31, 2017 and 2018, respectively

 

136

 

136

 

Additional paid-in capital

 

788,589

 

792,626

 

Accumulated deficit

 

(515,344

)

(528,825

)

Accumulated other comprehensive loss

 

(13,078

)

(19,848

)

Total Leju Holdings Limited shareholders’ equity

 

260,303

 

244,089

 

Non-controlling interests

 

(3,266

)

(2,523

)

Total equity

 

257,037

 

241,566

 

TOTAL LIABILITIES AND EQUITY

 

438,944

 

416,727

 

 

6


 

LEJU HOLDINGS LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

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

 

 

 

Three months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

E-commerce

 

71,217

 

82,377

 

234,836

 

320,271

 

Online advertising services

 

32,719

 

40,913

 

113,235

 

138,372

 

Listing services

 

2,432

 

954

 

14,461

 

3,388

 

Total revenues

 

106,368

 

124,244

 

362,532

 

462,031

 

Cost of revenues

 

(19,617

)

(18,895

)

(74,054

)

(72,910

)

Selling, general and administrative expenses

 

(112,293

)

(106,136

)

(434,276

)

(402,258

)

Goodwill impairment charge

 

 

 

(41,223

)

 

Other operating income

 

171

 

5

 

3,072

 

2,163

 

Loss from operations

 

(25,371

)

(782

)

(183,949

)

(10,974

)

Interest income

 

326

 

241

 

1,314

 

1,086

 

Other income (loss), net

 

1,103

 

2,050

 

480

 

(4,219

)

Income (loss) before taxes and loss from equity in affiliates

 

(23,942

)

1,509

 

(182,155

)

(14,107

)

Income tax benefits

 

1,510

 

602

 

20,328

 

1,334

 

Income (loss) before loss from equity in affiliates

 

(22,432

)

2,111

 

(161,827

)

(12,773

)

Loss from equity in affiliates

 

(28

)

(9

)

(216

)

(79

)

Net income (loss)

 

(22,460

)

2,102

 

(162,043

)

(12,852

)

Less: net income (loss) attributable to non-controlling interests

 

(158

)

681

 

(1,142

)

629

 

Income (loss) attributable to Leju Holdings Limited shareholders

 

(22,302

)

1,421

 

(160,901

)

(13,481

)

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per ADS:

 

 

 

 

 

 

 

 

 

Basic/ Diluted

 

(0.16

)

0.01

 

(1.19

)

(0.10

)

Shares used in computation of earnings (loss) per ADS:

 

 

 

 

 

 

 

 

 

Basic/ Diluted

 

135,763,962

 

135,763,962

 

135,708,350

 

135,763,962

 

 

Note 1                               The conversion of functional currency Renminbi (“RMB”) amounts into reporting currency USD amounts is based on the rate of USD1 = RMB6.8632 on December 31, 2018 and USD1 = RMB6.6126 for the year ended December 31, 2018

 

7


 

LEJU HOLDINGS LIMITED

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

(In thousands of U.S. dollars)

 

 

 

Three months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

(22,460

)

2,102

 

(162,043

)

(12,852

)

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss), net of tax of nil

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

3,516

 

(2,662

)

9,137

 

(6,678

)

 

 

 

 

 

 

 

 

 

 

Comprehensive loss

 

(18,944

)

(560

)

(152,906

)

(19,530

)

 

 

 

 

 

 

 

 

 

 

Less: Comprehensive income (loss) attributable to non-controlling interest

 

(187

)

650

 

(1,249

)

721

 

 

 

 

 

 

 

 

 

 

 

Comprehensive loss attributable to Leju Holdings Limited shareholders

 

(18,757

)

(1,210

)

(151,657

)

(20,251

)

 

8


 

LEJU HOLDINGS LIMITED

Unaudited Reconciliation of GAAP and Non-GAAP Results

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

 

 

 

Three months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

GAAP loss from operations

 

(25,371

)

(782

)

(183,949

)

(10,974

)

Share-based compensation expense

 

151

 

925

 

3,525

 

4,058

 

Amortization of intangible assets resulting from business acquisitions

 

3,485

 

3,205

 

13,333

 

13,064

 

Goodwill impairment

 

 

 

41,223

 

 

Non-GAAP income (loss) from operations

 

(21,735

)

3,348

 

(125,868

)

6,148

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss)

 

(22,460

)

2,102

 

(162,043

)

(12,852

)

Share-based compensation expense

 

151

 

925

 

3,525

 

4,058

 

Amortization of intangible assets resulting from business acquisitions

 

3,485

 

3,205

 

13,333

 

13,064

 

Goodwill impairment

 

 

 

41,223

 

 

Income tax benefit:

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred2

 

(574

)

(801

)

(2,144

)

(3,266

)

Non-GAAP net income (loss)

 

(19,398

)

5,431

 

(106,106

)

1,004

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Leju Holdings Limited shareholder

 

(22,302

)

1,421

 

(160,901

)

(13,481

)

Share-based compensation expense (net of non-controlling interests)

 

142

 

925

 

3,491

 

4,038

 

Amortization of intangible assets resulting from business acquisitions (net of non-controlling interests)

 

3,485

 

3,205

 

13,333

 

13,064

 

Goodwill impairment

 

 

 

41,223

 

 

Income tax benefit:

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred

 

(574

)

(801

)

(2,144

)

(3,266

)

Non-GAAP net income (loss) attributable to Leju Holdings Limited shareholders

 

(19,249

)

4,750

 

(104,998

)

355

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss) per ADS — basic/diluted

 

(0.16

)

0.01

 

(1.19

)

(0.10

)

 

 

 

 

 

 

 

 

 

 

Non-GAAP net income (loss) per ADS — basic/diluted

 

(0.14

)

0.03

 

(0.77

)

0.00

 

 

 

 

 

 

 

 

 

 

 

Shares used in calculating basic GAAP/non-GAAP net income (loss) attributable to shareholders per ADS

 

135,763,962

 

135,763,962

 

135,708,350

 

135,763,962

 

 


2  Amount represents the realization of deferred tax liabilities recognized for the temporary difference between the tax basis of intangible assets recognized from acquisitions and their reported amounts in the financial statements. The income tax impact on the share-based compensation expense, and goodwill impairment are nil.

 

9


 

LEJU HOLDINGS LIMITED

SELECTED OPERATING DATA

 

 

 

Three months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Operating data for e-commerce services

 

 

 

 

 

 

 

 

 

Number of discount coupons issued to prospective purchasers (number of transactions)

 

47,419

 

34,562

 

246,318

 

144,046

 

Number of discount coupons redeemed (number of transactions)

 

31,046

 

24,144

 

113,420

 

89,638

 

 

10