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 November 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:                  November 25, 2019

 

[Signature Page to 6-K]

 

2


 

Exhibit Index

 

Exhibit 99.1 — Press Release

 

Exhibit 99.2 — Notice of Annual General Meeting

 

3


Exhibit 99.1

 

Leju Reports Third Quarter 2019 Results and Issues Notice of Annual General Meeting

 

BEIJING, November 25, 2019 — 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 its unaudited financial results for the fiscal quarter and nine months ended September 30, 2019.

 

Third Quarter 2019 Financial Highlights

 

·                      Total revenues increased by 39% year-on-year to $185.4 million.

·                      Revenues from e-commerce services increased by 58% year-on-year to $153.4 million.

·                      Revenues from online advertising services decreased by 13% year-on-year to $31.5 million.

 

·                      Income from operations was $15.8 million, an increase of 40% from $11.3 million for the same quarter of 2018.

 

·                      Non-GAAP1 income from operations was $19.5 million, an increase of 25% from $15.6 million for the same quarter of 2018.

 

·                      Net income attributable to Leju Holdings Limited shareholders was $11.2 million, or $0.08 per diluted American depositary share (“ADS”), an increase of 63% from $6.8 million, or $0.05 per diluted ADS, for the same quarter of 2018.

 

·                      Non-GAAP net income attributable to Leju Holdings Limited shareholders was $14.1 million, or $0.10 per diluted ADS, an increase of 37% from $10.3 million, or $0.08 per diluted ADS, for the same quarter of 2018.

 

First Nine Month 2019 Financial Highlights

 

·                      Total revenues increased by 38% year-on-year to $465.8 million.

·                      Revenues from e-commerce services increased by 52% year-on-year to $362.6 million.

·                      Revenues from online advertising services increased by 4% year-on-year to $101.8 million.

 

·                      Income from operations was $8.7 million, compared to loss from operations of $10.2 million for the same period of 2018.

 

·                      Non-GAAP income from operations was $19.9 million, an increase of 611% from $2.8 million for the same period of 2018.

 

·                      Net income attributable to Leju Holdings Limited shareholders was $7.0 million, or $0.05 per diluted ADS, compared to net loss attributable to Leju Holdings Limited shareholders of $14.9 million, or $0.11 loss per diluted ADS for the same period of 2018.

 

·                      Non-GAAP net income attributable to Leju Holdings Limited shareholders was $15.9 million, or $0.12 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings Limited shareholders of $4.4 million, or $0.03 loss per diluted ADS for the same period of 2018.

 


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 and income tax impact on the share-based compensation expense, amortization of intangible assets resulting from business combinations. 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


 

“We are pleased that our revenue reached a record high in the third quarter,” said Mr. Geoffrey He, Leju’s chief executive officer. “Since the second half of this year, increasing demand for marketing services from developers as a result of added pressure to reduce inventories has driven significant growth in our new e-commerce business. Leju’s top-down strategy has allowed us to seize market opportunities, expand our customer base and increase the average number of projects under cooperation per customer, all of which provide a solid foundation to grow our project pipeline for the fourth quarter and next year. In addition, in the third quarter, our profit remained stable with continued positive cash inflow generated from operations. In the fourth quarter, Leju will hold our annual gala awards ceremony for China’s property industry, which will help to further enhance our media influence and customer relationships. “

 

Third Quarter 2019 Results

 

Total revenues were $185.4 million, an increase of 39% from $133.6 million for the same quarter of 2018, mainly due to an increase in revenues from e-commerce services.

 

Revenues from e-commerce services were $153.4 million, an increase of 58% from $96.9 million for the same quarter of 2018, primarily due to an increase in the number of discount coupons redeemed, partially offset by a decrease in the average price per discount coupon redeemed.

 

Revenues from online advertising services were $31.5 million, a decrease of 13% from $36.0 million for the same quarter of 2018, primarily due to a decrease in property developers’ demand for online advertising.

 

Revenues from listing services were $0.5 million, a decrease of 34% from $0.8 million for the same quarter of 2018, primarily due to a decrease in secondary real estate brokers’ demand.

 

Cost of revenues was $13.2 million, a decrease of 22% from $16.9 million for the same quarter of 2018, primarily due to decreased cost of advertising resources purchased from media platforms related to the Company’s online advertising business.

 

Selling, general and administrative expenses were $157.0 million, an increase of 48% from $106.2 million for the same quarter of 2018, primarily due to increased marketing expenses related to the Company’s e-commerce business.

 

Income from operations was $15.8 million, an increase of 40% from $11.3 million for the same quarter of 2018. Non-GAAP income from operations was $19.5 million, an increase of 25% from $15.6 million for the same quarter of 2018.

 

Net income was $11.3 million, an increase of 54% from $7.3 million for the same quarter of 2018. Non-GAAP net income was $14.2 million, an increase of 32% from $10.8 million for the same quarter of 2018.

 

Net income attributable to Leju Holdings Limited shareholders was $11.2 million, or $0.08 per diluted ADS, an increase of 63% from $6.8 million, or $0.05 per diluted ADS, for the same quarter of 2018. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $14.1 million, or $0.10 per diluted ADS, an increase of 37% from $10.3 million, or $0.08 per diluted ADS, for the same quarter of 2018.

 

First Nine Month 2019 Results

 

Total revenues were $465.8 million, an increase of 38% from $337.8 million for the same period of 2018, mainly due to an increase in revenues from e-commerce services.

 

Revenues from e-commerce services were $362.6 million, an increase of 52% from $237.9 million for the same period of 2018, primarily due to an increase in the number of discount coupons redeemed, partially offset by a decrease in the average price per discount coupon redeemed.

 

2


 

Revenues from online advertising services were $101.8 million, an increase of 4% from $97.5 million for the same period of 2018, primarily due to an increase in property developers’ demand for online advertising in the first half of 2019.

 

Revenues from listing services were $1.4 million, a decrease of 44% from $2.4 million for the same period of 2018, primarily due to a decrease in secondary real estate brokers’ demand.

 

Cost of revenues was $55.1 million, an increase of 2% from $54.0 million for the same period of 2018, primarily due to increased cost of advertising resources purchased from media platforms related to the Company’s online advertising business in the first half of 2019.

 

Selling, general and administrative expenses were $403.0 million, an increase of 36% from $296.1 million for the same period of 2018, primarily due to increased marketing expenses related to the Company’s e-commerce business.

 

Income from operations was $8.7 million, compared to loss from operations of $10.2 million for the same period of 2018. Non-GAAP income from operations was $19.9 million, an increase of 611% from $2.8 million for the same period of 2018.

 

Net income was $7.4 million, compared to net loss of $15.0 million for the same period of 2018. Non-GAAP net income was $16.2 million, compared to non-GAAP net loss of $4.4 million for the same period of 2018.

 

Net income attributable to Leju Holdings Limited shareholders was $7.0 million, or $0.05 per diluted ADS, compared to net loss attributable to Leju Holdings Limited shareholders of $14.9 million, or $0.11 loss per diluted ADS for the same period of 2018. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $15.9 million, or $0.12 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings Limited shareholders of $4.4 million, or $0.03 loss per diluted ADS for the same period of 2018.

 

Cash Flow

 

As of September 30, 2019, the Company’s cash and cash equivalents balance was $171.0 million.

 

Third quarter 2019 net cash provided by operating activities was $10.9 million, primarily comprised of non-GAAP net income of $14.2 million, an increase in accrued marketing and advertising expenses and other current liabilities of $21.1 million, an increase in advance from customer of $6.0 million, and an increase in income tax payable and other tax payable of 4.7 million, partially offset by an increase in accounts receivable and contract assets of $18.4 million, and an increase in customer deposits of $18.2 million.

 

Business Outlook

 

The Company estimates that its total revenues for the fourth quarter of 2019 will be approximately $200 million to $210 million, which would represent an increase of approximately 61% to 69% from $124.2 million in the same quarter in 2018. This forecast reflects the Company’s current and preliminary view, which is subject to change.

 

Leju to Hold Annual General Meeting on December 20, 2019

 

Leju announced that it will hold its annual general meeting of shareholders (the “AGM”) at Room 1120, 11/F, Yinli Building, No. 383 Guangyan Road, Shanghai, the People’s Republic of China on December 20, 2019 at 10:00AM (local time). No proposal will be submitted to shareholders for approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and holders of the Company’s ADSs to discuss Company affairs with management.

 

3


 

Holders of record of the Company’s ordinary shares at the close of business on December 2, 2019 (Eastern Daylight Time) are entitled to receive notice of and attend the annual general meeting or any adjournment or postponement thereof. Holders of the Company’s ADSs are welcome to attend the AGM in person.

 

The notice of the annual general meeting is available on the Company’s website at http://ir.leju.com.

 

Conference Call Information

 

Leju’s management will host an earnings conference call on November 25, 2019 at 7 a.m. U.S. Eastern Time (8 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 December 3, 2019:

 

U.S./International:

+1-855-452-5696

Hong Kong:

800-963-117

Mainland China:

400-632-2162

Passcode:

8377206

 

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.

 

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, and income tax impact on the share-based compensation expense and amortization of intangible assets resulting from business combinations. 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 and amortization of intangible assets resulting from business acquisitions, 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 and amortization of intangible assets resulting from business acquisitions 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 CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

 

 

 

December 31,

 

September 30,

 

 

 

2018

 

2019

 

ASSETS

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

 

147,263

 

171,014

 

Accounts receivable, net

 

102,697

 

134,034

 

Contract assets

 

2,137

 

8,400

 

Marketable securities

 

2,467

 

3,414

 

Prepaid expenses and other current assets

 

8,621

 

7,100

 

Customer deposits

 

10,672

 

27,610

 

Amounts due from related parties

 

6,695

 

9,483

 

Total current assets

 

280,552

 

361,055

 

Property and equipment, net

 

14,058

 

17,968

 

Intangible assets, net

 

57,401

 

48,503

 

Right-of-use assets2

 

 

27,624

 

Investment in affiliates

 

63

 

51

 

Deferred tax assets

 

62,356

 

60,507

 

Other non-current assets

 

2,297

 

2,051

 

Total assets

 

416,727

 

517,759

 

LIABILITIES AND EQUITY

 

 

 

 

 

Current liabilities

 

 

 

 

 

Accounts payable

 

803

 

1,715

 

Accrued payroll and welfare expenses

 

30,628

 

31,943

 

Income tax payable

 

58,030

 

58,329

 

Other tax payable

 

12,675

 

18,000

 

Amounts due to related parties

 

3,477

 

11,399

 

Advance from customers

 

26,873

 

40,710

 

Lease liabilities, current2

 

 

5,238

 

Customer deposit payable

 

 

7,069

 

Accrued marketing and advertising expenses

 

14,896

 

29,861

 

Other current liabilities

 

12,999

 

31,465

 

Total current liabilities

 

160,381

 

235,729

 

Lease liabilities, non-current2

 

 

22,725

 

Deferred tax liabilities

 

14,780

 

14,342

 

Total liabilities

 

175,161

 

272,796

 

Shareholders’ Equity

 

 

 

 

 

Ordinary shares ($0.001 par value): 1,000,000,000 shares authorized, 135,763,962 and 135,770,628 shares issued and outstanding, as of December 31, 2018 and September 30, 2019, respectively

 

136

 

136

 

Additional paid-in capital

 

792,626

 

794,344

 

Accumulated deficit

 

(528,825

)

(521,804

)

Accumulated other comprehensive loss

 

(19,848

)

(25,629

)

Total Leju Holdings Limited shareholders’ equity

 

244,089

 

247,047

 

Non-controlling interests

 

(2,523

)

(2,084

)

Total equity

 

241,566

 

244,963

 

TOTAL LIABILITIES AND EQUITY

 

416,727

 

517,759

 

 


2   In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use asset and lease liability on their balance sheet for all leases with a term of more than 12 months. The Group adopted this ASU on January 1, 2019 using the modified retrospective approach and the financial statements for the comparative period has not been restated.

 

6


 

LEJU HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2018

 

2019

 

2018

 

2019

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

E-commerce

 

96,853

 

153,428

 

237,894

 

362,642

 

Online advertising services

 

35,968

 

31,466

 

97,459

 

101,798

 

Listing services

 

767

 

505

 

2,434

 

1,357

 

Total revenues

 

133,588

 

185,399

 

337,787

 

465,797

 

Cost of revenues

 

(16,935

)

(13,237

)

(54,015

)

(55,068

)

Selling, general and administrative expenses

 

(106,195

)

(156,977

)

(296,122

)

(402,994

)

Other operating income

 

850

 

590

 

2,158

 

958

 

Income (loss) from operations

 

11,308

 

15,775

 

(10,192

)

8,693

 

Interest income

 

286

 

315

 

845

 

900

 

Interest expenses

 

 

(858

)

 

(858

)

Other income (loss), net

 

(3,897

)

(191

)

(6,269

)

1,102

 

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

 

7,697

 

15,041

 

(15,616

)

9,837

 

Income tax benefits/(expenses)

 

(361

)

(3,776

)

732

 

(2,469

)

Income (loss) before loss from equity in affiliates

 

7,336

 

11,265

 

(14,884

)

7,368

 

Income (loss) from equity in affiliates

 

(19

)

15

 

(70

)

(11

)

Net income (loss)

 

7,317

 

11,280

 

(14,954

)

7,357

 

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

 

473

 

121

 

(52

)

337

 

Income (loss) attributable to Leju Holdings Limited shareholders

 

6,844

 

11,159

 

(14,902

)

7,020

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per ADS:

 

 

 

 

 

 

 

 

 

Basic

 

0.05

 

0.08

 

(0.11

)

0.05

 

Diluted

 

0.05

 

0.08

 

(0.11

)

0.05

 

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

 

 

 

 

 

 

 

 

 

Basic

 

135,763,962

 

135,765,158

 

135,763,962

 

135,764,361

 

Diluted

 

135,763,962

 

135,769,998

 

135,763,962

 

135,767,912

 

 

The conversion of functional currency Renminbi (“RMB”) amounts into reporting currency USD amounts is based on the rate of USD1 = RMB7.0729 on September 30, 2019 and USD1 = RMB6.8569 for the nine months ended September 30, 2019.

 

7


 

LEJU HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

(In thousands of U.S. dollars)

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2018

 

2019

 

2018

 

2019

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

7,317

 

11,280

 

(14,954

)

7,357

 

Other comprehensive loss, net of tax of nil

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

(3,243

)

(5,310

)

(4,016

)

(5,781

)

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

4,074

 

5,970

 

(18,970

)

1,576

 

 

 

 

 

 

 

 

 

 

 

Less: Comprehensive income attributable to non-controlling interest

 

551

 

161

 

71

 

377

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss) attributable to Leju Holdings Limited shareholders

 

3,523

 

5,809

 

(19,041

)

1,199

 

 

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

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2018

 

2019

 

2018

 

2019

 

 

 

 

 

 

 

 

 

 

 

GAAP income (loss) from operations

 

11,308

 

15,775

 

(10,192

)

8,693

 

Share-based compensation expense

 

1,098

 

599

 

3,133

 

1,770

 

Amortization of intangible assets resulting from business acquisitions

 

3,204

 

3,153

 

9,859

 

9,459

 

Non-GAAP income from operations

 

15,610

 

19,527

 

2,800

 

19,922

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss)

 

7,317

 

11,280

 

(14,954

)

7,357

 

Share-based compensation expense

 

1,098

 

599

 

3,133

 

1,770

 

Amortization of intangible assets resulting from business acquisitions

 

3,204

 

3,153

 

9,859

 

9,459

 

Income tax benefit:

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred3

 

(801

)

(788

)

(2,465

)

(2,364

)

Non-GAAP net income (loss)

 

10,818

 

14,244

 

(4,427

)

16,222

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Leju Holdings Limited shareholder

 

6,844

 

11,159

 

(14,902

)

7,020

 

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

 

1,094

 

599

 

3,113

 

1,770

 

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

 

3,204

 

3,153

 

9,859

 

9,459

 

Income tax benefit:

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred

 

(801

)

(788

)

(2,465

)

(2,364

)

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

 

10,341

 

14,123

 

(4,395

)

15,885

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss) per ADS — basic

 

0.05

 

0.08

 

(0.11

)

0.05

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss) per ADS — diluted

 

0.05

 

0.08

 

(0.11

)

0.05

 

 

 

 

 

 

 

 

 

 

 

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

 

0.08

 

0.10

 

(0.03

)

0.12

 

 

 

 

 

 

 

 

 

 

 

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

 

0.08

 

0.10

 

(0.03

)

0.12

 

 

 

 

 

 

 

 

 

 

 

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

 

135,763,962

 

135,765,158

 

135,763,962

 

135,764,361

 

 

 

 

 

 

 

 

 

 

 

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

 

135,763,962

 

135,769,998

 

135,763,962

 

135,767,912

 

 


3   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 is nil.

 

9


 

LEJU HOLDINGS LIMITED

SELECTED OPERATING DATA

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2018

 

2019

 

2018

 

2019

 

Operating data for e-commerce services

 

 

 

 

 

 

 

 

 

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

 

31,554

 

73,259

 

109,484

 

167,628

 

Number of discount coupons redeemed (number of transactions)

 

30,807

 

51,400

 

65,494

 

107,194

 

 

10


Exhibit 99.2

 

 

LEJU HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(NYSE Ticker: LEJU)

 


 

Notice of Annual General Meeting

to be held on December 20, 2019
(or any adjourned or postponed meeting thereof)

 

NOTICE IS HEREBY GIVEN that an annual general meeting (the “AGM”) of Leju Holdings Limited (the “Company”) will be held at Room 1120, 11/F, Yinli Building, No. 383 Guangyan Road, Shanghai, the People’s Republic of China on December 20, 2019 at 10:00AM (local time).  No proposal will be submitted to shareholders for approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and holders of the Company’s American depositary shares (“ADSs”) to discuss Company affairs with management.

 

The Board of Directors of the Company has fixed the close of business on December 2, 2019 (Eastern Daylight Time) 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 ordinary shares, par value US$0.001 per share (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.  Holders of the Company’s ADSs are welcome to attend the AGM in person.

 

Shareholders and ADS holders may obtain a copy of the Company’s annual report on Form 20-F, free of charge, from the Company’s website at http://ir.leju.com, or by writing to Christina Wu, Leju Holdings Limited, Level G, Building G, No.8 Dongfeng South Road, Chaoyang District, Beijing 100016, the People’s Republic of China, or by email to ir@leju.com.

 

 

By Order of the Board of Directors,

 

Leju Holdings Limited

 

 

 

/s/ Xin Zhou

 

Xin Zhou

 

Executive Chairman

 

Beijing, November 25, 2019