BEIJING, March 31,
2023 /PRNewswire/ -- 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
second half and full year ended December 31,
2022.
Second Half 2022 Financial Highlights
- Total revenues decreased by 25% year on year to $173.7 million.
-
- Revenues from e-commerce services decreased by 19% year on year
to $145.8 million.
- Revenues from online advertising services decreased by 48% year
on year to $27.9 million.
- Loss from operations was $40.9
million, compared to loss from operations of $116.9 million for the same period of 2021.
- Non-GAAP[1] loss from operations was $34.7 million, compared to Non-GAAP loss from
operations of $111.2 million for the
same period of 2021.
- Net loss attributable to Leju Holdings Limited shareholders was
$36.8 million, or $2.69 loss per diluted American depositary share
("ADS"), compared to net loss attributable to Leju Holdings Limited
shareholders of $103.2 million, or
$7.54 loss per diluted
ADS[2], for the same period of 2021.
- Non-GAAP net loss attributable to Leju Holdings Limited
shareholders was $32.0 million, or
$2.33 loss per diluted ADS, compared
to non-GAAP net loss attributable to Leju Holdings Limited
shareholders of $98.7 million, or
$7.22 loss per diluted ADS, for the
same period of 2021.
|
[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 and 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.
[2] On May
10, 2022, Leju announced that it would change its American
depositary share ("ADS") to ordinary share ("Share") ratio from one
(1) ADS representing one (1) Share to one (1) ADS representing ten
(10) Shares. The change in the ADS ratio was effective on May 20,
2022. For Leju's ADS holders, the change in the ADS ratio had the
same effect as a one-for-ten reverse ADS split. The ADS ratio
change has no impact on Leju's underlying Shares. Loss per ADS for
2021 had been retrospectively adjusted accordingly.
|
Full Year 2022 Financial Highlights
- Total revenues decreased by 36% year on year to $343.2 million.
-
- Revenues from e-commerce services decreased by 32% year on year
to $278.5 million.
- Revenues from online advertising services decreased by 47% year
on year to $64.7 million.
- Loss from operations was $105.6
million, compared to loss from operations of $166.7 million for 2021.
- Non-GAAP loss from operations was $93.2
million, compared to non-GAAP loss from operations of
$154.5 million for 2021.
- Net loss attributable to Leju Holdings Limited shareholders was
$89.7 million, or $6.54 loss per diluted ADS, compared to net loss
attributable to Leju Holdings Limited shareholders of $150.9 million, or $11.05 loss per diluted ADS for 2021.
- Non-GAAP net loss attributable to Leju Holdings Limited
shareholders was $79.9 million, or
$5.83 loss per diluted ADS, compared
to non-GAAP net loss attributable to Leju Holdings Limited
shareholders of $141.4 million, or
$10.34 loss per diluted ADS for
2021.
"In the second half of 2022,
China's real estate industry did
not show significant improvement, while real estate developers
continued to experience liquidity pressure and overall market sales
continued to decline, all of which had negatively impacted Leju's
online advertising and e-commerce businesses," said Mr.
Geoffrey He, Leju's Chief Executive
Officer.
"Although the central government and local governments
introduced measures to support the real estate industry in the
fourth quarter of 2022, it will take the market some time to absorb
and respond. Looking ahead to 2023, real estate sales are
anticipated to remain depressed as developers work to restore their
financial fundamentals. Leju has made adaptive optimization and
adjustment to our sales network and team structure based on these
projections. Finally, in order to be ready to take advantage of the
future market recovery, we will enhance our focus on brand building
efforts and new product development."
Second Half 2022 Results
Total revenues were $173.7 million, a decrease of 25% from
$233.0 million for the same period of
2021.
Revenues from e-commerce services were
$145.8 million, a decrease of 19%
from $179.7 million for the same
period of 2021, primarily due to a decrease in the number of
discount coupons redeemed, partially offset by an increase in the
average price per discount coupon redeemed.
Revenues from online advertising services were
$27.9 million, a decrease of 48% from
$53.2 million for the same period of
2021, primarily due to a decrease in property developers' demand
for online advertising.
Cost of revenues was $16.1 million, a decrease of 33% from
$24.1 million for the same period of
2021, primarily due to decreased cost of advertising resources
purchased from media platforms, and decreased editorial personnel
related costs.
Selling, general and administrative
expenses were $198.7
million, a decrease of 39% from $326.2 million for the same period of 2021,
primarily due to the $63.7 million
decrease in the bad debt provision, and decreased marketing
expenses related to the Company's e-commerce business. The bad debt
provision recorded in the second half of 2021 was mainly
attributable to the recognition of additional loss allowance on
expected credit loss of the Company's outstanding online
advertising related receivables from certain customers, whose
credit quality worsened.
Loss from operations was $40.9 million, compared to loss from operations
of $116.9 million for the same period
of 2021. Non-GAAP loss from operations was
$34.7 million, compared to non-GAAP
loss from operations of $111.2
million for the same period of 2021.
Net loss was $36.9
million, compared to net loss of $103.0 million for the same period of
2021. Non-GAAP net loss was $32.0 million, compared to non-GAAP net loss of
$98.6 million for the same
period of 2021.
Net loss attributable to Leju Holdings Limited
shareholders was $36.8
million, or $2.69 loss per
diluted ADS, compared to net loss attributable to Leju Holdings
Limited shareholders of $103.2
million, or $7.54
loss per diluted ADS, for the same period of 2021.
Non-GAAP net loss attributable to Leju Holdings Limited
shareholders was $32.0
million, or $2.33 loss per
diluted ADS, compared to non-GAAP net loss attributable to Leju
Holdings Limited shareholders of $98.7
million, or $7.22 loss per
diluted ADS, for the same period of 2021.
Full year 2022 Results
Total revenues were $343.2 million, a decrease of 36% from
$534.1 million for 2021.
Revenues from e-commerce services were
$278.5 million, a decrease of 32%
from $411.1 million for 2021,
primarily due to a decrease in the number of discount coupons
redeemed, partially offset by an increase in the average price per
discount coupon redeemed.
Revenues from online advertising services were
$64.7 million, a decrease of 47% from
$122.5 million for 2021, primarily
due to a decrease in property developers' demand for online
advertising.
Cost of revenues was $30.6 million, a decrease of 45% from
$55.8 million for 2021, primarily due
to decreased cost of advertising resources purchased from media
platforms, and decreased editorial personnel related costs.
Selling, general and administrative
expenses were $418.5
million, a decrease of 35% from $645.6 million for 2021, primarily due to the
$97.5 million decrease in the bad
debt provision, and decreased marketing expenses related to the
Company's e-commerce business. The bad debt provision recorded in
2021 was mainly attributable to the recognition of additional loss
allowance on expected credit loss of the Company's outstanding
online advertising related receivables from certain customers,
whose credit quality worsened.
Loss from operations was $105.6 million, compared to loss from operations
of $166.7 million for
2021. Non-GAAP loss from operations was
$93.2 million, compared to non-GAAP
net loss of $154.5 million for
2021.
Net loss was $89.7
million, compared to net loss of $149.9 million for 2021. Non-GAAP net
loss was $79.9 million,
compared to non-GAAP net loss of $140.3 million for 2021.
Net loss attributable to Leju Holdings
Limited shareholders was $89.7
million, or $6.54 loss per
diluted ADS, compared to net loss attributable to Leju Holdings
Limited shareholders of $150.9
million, or $11.05 loss per
diluted ADS, for 2021. Non-GAAP net loss attributable to Leju
Holdings Limited shareholders was $79.9 million, or $5.83 loss per diluted ADS, compared to non-GAAP
net loss attributable to Leju Holdings Limited shareholders of
$141.4 million, or $10.34 loss per diluted ADS, for 2021.
Cash Flow
As of December 31, 2022, the
Company's cash and cash equivalents and restricted cash were
$127.6 million.
Second half 2022 net cash used in operating activities was
$47.4 million, primarily comprised of
non-GAAP net loss of $32.0 million
and a decrease in other current liabilities and accrued expenses of
$13.6 million.
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 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; 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.
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) 8474-1287
E-mail: ir@leju.com
|
LEJU HOLDINGS
LIMITED
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(In thousands of
U.S. dollars)
|
|
|
|
|
December
31,
|
|
December
31,
|
|
|
|
2021
|
|
2022
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
|
250,314
|
|
|
|
123,378
|
|
|
|
Restricted
cash
|
|
|
|
2,082
|
|
|
|
4,271
|
|
|
|
Accounts receivable,
net
|
|
|
|
36,071
|
|
|
|
3,408
|
|
|
|
Contract assets,
net
|
|
|
|
1,415
|
|
|
|
—
|
|
|
|
Marketable
securities
|
|
|
|
1,186
|
|
|
|
—
|
|
|
|
Prepaid expenses and
other current assets
|
|
|
|
25,110
|
|
|
|
6,111
|
|
|
|
Customer
deposits
|
|
|
|
784
|
|
|
|
3,860
|
|
|
|
Amounts due from
related parties
|
|
|
|
3,913
|
|
|
|
2,476
|
|
|
|
Total current
assets
|
|
|
|
320,875
|
|
|
|
143,504
|
|
|
|
Property and equipment,
net
|
|
|
|
16,667
|
|
|
|
14,204
|
|
|
|
Intangible assets,
net
|
|
|
|
23,298
|
|
|
|
12,458
|
|
|
|
Right-of-use
assets
|
|
|
|
23,409
|
|
|
|
18,943
|
|
|
|
Investment in
affiliates
|
|
|
|
18
|
|
|
|
—
|
|
|
|
Deferred tax assets,
net
|
|
|
|
51,605
|
|
|
|
25,457
|
|
|
|
Other non-current
assets
|
|
|
|
1,376
|
|
|
|
1,545
|
|
|
|
Total
assets
|
|
|
|
437,248
|
|
|
|
216,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Short-term
borrowings
|
|
|
|
784
|
|
|
|
718
|
|
|
|
Accounts
payable
|
|
|
|
1,631
|
|
|
|
654
|
|
|
|
Accrued payroll and
welfare expenses
|
|
|
|
21,517
|
|
|
|
12,728
|
|
|
|
Income tax
payable
|
|
|
|
60,952
|
|
|
|
25,203
|
|
|
|
Other tax
payable
|
|
|
|
18,046
|
|
|
|
9,695
|
|
|
|
Amounts due to related
parties
|
|
|
|
7,632
|
|
|
|
4,805
|
|
|
|
Advances from
customers
|
|
|
|
82,788
|
|
|
|
43,100
|
|
|
|
Lease liabilities,
current
|
|
|
|
5,582
|
|
|
|
5,038
|
|
|
|
Accrued marketing and
advertising expenses
|
|
|
|
43,272
|
|
|
|
29,988
|
|
|
|
Other current
liabilities
|
|
|
|
18,504
|
|
|
|
12,265
|
|
|
|
Total current
liabilities
|
|
|
|
260,708
|
|
|
|
144,194
|
|
|
|
Lease liabilities,
non-current
|
|
|
|
19,438
|
|
|
|
15,439
|
|
|
|
Deferred tax
liabilities
|
|
|
|
6,043
|
|
|
|
3,518
|
|
|
|
Total
liabilities
|
|
|
|
286,189
|
|
|
|
163,151
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares
($0.001 par value): 1,000,000,000 shares
authorized,
136,822,601 and 137,172,601 shares issued and
outstanding, as
of December 31, 2021 and 2022,
respectively
|
|
|
|
137
|
|
|
|
137
|
|
|
|
Additional paid-in
capital
|
|
|
|
801,477
|
|
|
|
803,301
|
|
|
|
Accumulated
deficit
|
|
|
|
(648,935)
|
|
|
|
(738,602)
|
|
|
|
Accumulated other
comprehensive loss
|
|
|
|
(1,424)
|
|
|
|
(11,601)
|
|
|
|
Total Leju Holdings
Limited shareholders' equity
|
|
|
|
151,255
|
|
|
|
53,235
|
|
|
|
Non-controlling
interests
|
|
|
|
(196)
|
|
|
|
(275)
|
|
|
|
Total
equity
|
|
|
|
151,059
|
|
|
|
52,960
|
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
|
|
|
437,248
|
|
|
|
216,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEJU HOLDINGS
LIMITED
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
Six months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E-commerce
|
|
|
179,696
|
|
|
|
145,810
|
|
|
|
411,097
|
|
|
|
278,464
|
|
|
Online
advertising
|
|
|
53,232
|
|
|
|
27,924
|
|
|
|
122,522
|
|
|
|
64,707
|
|
|
Listing
|
|
|
97
|
|
|
|
—
|
|
|
|
498
|
|
|
|
11
|
|
|
Total net
revenues
|
|
|
233,025
|
|
|
|
173,734
|
|
|
|
534,117
|
|
|
|
343,182
|
|
|
Cost of
revenues
|
|
|
(24,130)
|
|
|
|
(16,130)
|
|
|
|
(55,801)
|
|
|
|
(30,604)
|
|
|
Selling, general and
administrative expenses
|
|
|
(326,151)
|
|
|
|
(198,739)
|
|
|
|
(645,623)
|
|
|
|
(418,501)
|
|
|
Other operating income,
net
|
|
|
361
|
|
|
|
273
|
|
|
|
560
|
|
|
|
298
|
|
|
Loss from
operations
|
|
|
(116,895)
|
|
|
|
(40,862)
|
|
|
|
(166,747)
|
|
|
|
(105,625)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income,
net
|
|
|
1,555
|
|
|
|
820
|
|
|
|
3,130
|
|
|
|
2,335
|
|
|
Other income (loss),
net
|
|
|
(1,919)
|
|
|
|
695
|
|
|
|
209
|
|
|
|
1,496
|
|
|
Loss before taxes
and loss from equity in
affiliates
|
|
|
(117,259)
|
|
|
|
(39,347)
|
|
|
|
(163,408)
|
|
|
|
(101,794)
|
|
|
Income tax
benefits
|
|
|
14,228
|
|
|
|
2,478
|
|
|
|
13,498
|
|
|
|
12,120
|
|
|
Loss before loss
from equity in affiliates
|
|
|
(103,031)
|
|
|
|
(36,869)
|
|
|
|
(149,910)
|
|
|
|
(89,674)
|
|
|
Loss from equity in
affiliates
|
|
|
(6)
|
|
|
|
(17)
|
|
|
|
(14)
|
|
|
|
(17)
|
|
|
Net
loss
|
|
|
(103,037)
|
|
|
|
(36,886)
|
|
|
|
(149,924)
|
|
|
|
(89,691)
|
|
|
Less: net income (loss)
attributable to non-controlling interests
|
|
|
125
|
|
|
|
(70)
|
|
|
|
1,010
|
|
|
|
(23)
|
|
|
Net loss
attributable to Leju Holdings Limited
shareholders
|
|
|
(103,162)
|
|
|
|
(36,816)
|
|
|
|
(150,934)
|
|
|
|
(89,668)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
(7.54)
|
|
|
|
(2.69)
|
|
|
|
(11.05)
|
|
|
|
(6.54)
|
|
|
Diluted
|
|
|
(7.54)
|
|
|
|
(2.69)
|
|
|
|
(11.05)
|
|
|
|
(6.54)
|
|
|
ADS used in computation
of loss per ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
13,681,898
|
|
|
|
13,708,716
|
|
|
|
13,665,216
|
|
|
|
13,704,238
|
|
|
Diluted
|
|
|
13,681,898
|
|
|
|
13,708,716
|
|
|
|
13,665,216
|
|
|
|
13,704,238
|
|
|
|
The conversion of
functional currency Renminbi ("RMB") amounts into reporting
currency USD amounts
is based on the rate
of USD1 = RMB6.9646 on December 31, 2022 and USD1 = RMB6.6935 for
the year
ended December 31,
2022.
|
|
LEJU HOLDINGS
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(LOSS)
(In thousands
of U.S. dollars)
|
|
|
|
Six months
ended
|
|
|
Year
ended
|
|
|
December
31,
|
|
|
December
31,
|
|
|
|
|
|
|
|
|
2021
|
|
2022
|
|
2021
|
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
|
(103,037)
|
|
|
|
(36,886)
|
|
|
|
(149,924)
|
|
|
|
|
(89,691)
|
|
|
Other comprehensive
income (loss), net of tax of nil
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
|
1,882
|
|
|
|
(4,891)
|
|
|
|
4,282
|
|
|
|
|
(10,232)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss
|
|
|
(101,155)
|
|
|
|
(41,777)
|
|
|
|
(145,642)
|
|
|
|
|
(99,923)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Comprehensive
income (loss) attributable to
non-controlling interests
|
|
|
129
|
|
|
|
(86)
|
|
|
|
1,021
|
|
|
|
|
(78)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss
attributable to Leju Holdings
Limited shareholders
|
|
|
(101,284)
|
|
|
|
(41,691)
|
|
|
|
(146,663)
|
|
|
|
|
(99,845)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEJU HOLDINGS
LIMITED
Unaudited
Reconciliation of GAAP and Non-GAAP Results
(In thousands of
U.S. dollars, except share data and per ADS data)
|
|
|
|
Six months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP loss from
operations
|
|
|
(116,895)
|
|
|
|
(40,862)
|
|
|
(166,747)
|
|
|
(105,625)
|
|
|
Share-based
compensation expense
|
|
|
463
|
|
|
|
895
|
|
|
1,657
|
|
|
1,824
|
|
|
Amortization of
intangible assets resulting from business
acquisitions
|
|
|
5,279
|
|
|
|
5,279
|
|
|
10,558
|
|
|
10,558
|
|
|
Non-GAAP loss from
operations
|
|
|
(111,153)
|
|
|
|
(34,688)
|
|
|
(154,532)
|
|
|
(93,243)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net
loss
|
|
|
(103,037)
|
|
|
|
(36,886)
|
|
|
(149,924)
|
|
|
(89,691)
|
|
|
Share-based
compensation expense
|
|
|
463
|
|
|
|
895
|
|
|
1,657
|
|
|
1,824
|
|
|
Amortization of
intangible assets resulting from
business
acquisitions
|
|
|
5,279
|
|
|
|
5,279
|
|
|
10,558
|
|
|
10,558
|
|
|
Income tax
benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Deferred[3]
|
|
|
(1,320)
|
|
|
|
(1,320)
|
|
|
(2,640)
|
|
|
(2,640)
|
|
|
Non-GAAP net
loss
|
|
|
(98,615)
|
|
|
|
(32,032)
|
|
|
(140,349)
|
|
|
(79,949)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
attributable to Leju Holdings Limited shareholder
|
|
|
(103,162)
|
|
|
|
(36,816)
|
|
|
(150,934)
|
|
|
(89,668)
|
|
|
Share-based
compensation expense
(net of
non-controlling interests)
|
|
|
463
|
|
|
|
895
|
|
|
1,657
|
|
|
1,824
|
|
|
Amortization of
intangible assets resulting from business
acquisitions (net of non-controlling interests)
|
|
|
5,279
|
|
|
|
5,279
|
|
|
10,558
|
|
|
10,558
|
|
|
Income tax
benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Deferred
|
|
|
(1,320)
|
|
|
|
(1,320)
|
|
|
(2,640)
|
|
|
(2,640)
|
|
|
Non-GAAP net loss
attributable to Leju Holdings
Limited shareholders
|
|
|
(98,740)
|
|
|
|
(31,962)
|
|
|
(141,359)
|
|
|
(79,926)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss per ADS —
basic
|
|
|
(7.54)
|
|
|
|
(2.69)
|
|
|
(11.05)
|
|
|
(6.54)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss per ADS —
diluted
|
|
|
(7.54)
|
|
|
|
(2.69)
|
|
|
(11.05)
|
|
|
(6.54)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
ADS — basic
|
|
|
(7.22)
|
|
|
|
(2.33)
|
|
|
(10.34)
|
|
|
(5.83)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
ADS — diluted
|
|
|
(7.22)
|
|
|
|
(2.33)
|
|
|
(10.34)
|
|
|
(5.83)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADS used in calculating
basic GAAP / non-GAAP net loss
attributable to shareholders per ADS
|
|
|
13,681,898
|
|
|
|
13,708,716
|
|
|
13,665,216
|
|
|
13,704,238
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADS used in calculating
diluted GAAP / non-GAAP net
loss
attributable to shareholders per ADS
|
|
|
13,681,898
|
|
|
|
13,708,716
|
|
|
13,665,216
|
|
|
13,704,238
|
|
|
|
[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.
|
|
LEJU HOLDINGS
LIMITED
SELECTED OPERATING
DATA
|
|
|
|
Six months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating data for
e-commerce services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of discount
coupons issued to
prospective purchasers (number of
transactions)
|
|
|
70,138
|
|
|
|
35,794
|
|
|
|
162,196
|
|
|
|
67,250
|
|
|
Number of discount
coupons redeemed (number
of
transactions)
|
|
|
60,852
|
|
|
|
35,214
|
|
|
|
138,230
|
|
|
|
70,476
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/leju-reports-second-half-year-and-full-year-2022-results-301786840.html
SOURCE Leju Holdings Limited