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 2018

 


 

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 20, 2018

 

[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 2018 Results and Issues Notice of Annual General Meeting

 

BEIJING, November 19, 2018 — 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 nine months ended September 30, 2018.

 

Third Quarter 2018 Financial Highlights

 

·                      Total revenues increased by 40% year-on-year to $133.6 million.

·                      Revenues from e-commerce services increased by 57% year-on-year to $96.9 million.

·                      Revenues from online advertising services increased by 20% year-on-year to $36.0 million.

 

·                      Income from operations was $11.3 million, compared to loss from operations of $29.3 million for the same quarter of 2017. Non-GAAP1 income from operations was $15.6 million, compared to non-GAAP loss from operations of $24.9 million for the same quarter of 2017.

 

·                      Net income attributable to Leju Holdings Limited shareholders was $6.8 million, or $0.05 per diluted American depositary share (“ADS”), compared to net loss attributable to Leju Holdings Limited shareholders of $23.1 million, or $0.17 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $10.3 million, or $0.08 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.

 

First Nine Months 2018 Financial Highlights

 

·                      Total revenues increased by 32% year-on-year to $337.8 million.

·                      Revenues from e-commerce services increased by 45% year-on-year to $237.9 million.

·                      Revenues from online advertising services increased by 21% year-on-year to $97.5 million.

 

·                      Loss from operations was $10.2 million, a decrease of 94% from $158.6 million for the same period of 2017. Non-GAAP income from operations was $2.8 million, compared to non-GAAP loss from operations of $104.1 million for the same period of 2017.

 

·                      Net loss attributable to Leju Holdings Limited shareholders was $14.9 million, or $0.11 loss per diluted ADS, a decrease of 89% from $138.6 million, or $1.02 loss per diluted ADS for the same period of 2017. Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $4.4 million, or $0.03 loss per diluted ADS, a decrease of 95% from $85.7 million, or $0.63 loss per diluted ADS for the same period of 2017.

 

“In the third quarter, Leju continued its growth momentum while delivering solid operating profit,” said Mr. Geoffrey He, Leju’s Chief Executive Officer. “In line with our ‘New Media, New Ecosystem, and New E-commerce’ business strategy, we will remain focused on enhancing our media influence by leveraging ‘Leju Finance’, developing our intelligent marketing platform through our proprietary ‘cloud-eye’ big-data system and ‘mini-app’ open platform, and offering innovative e-commerce products with the help of our transparent home purchasing platform.”

 


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.

 


 

“Looking to the fourth quarter, the changing market conditions will present both challenges and opportunities for Leju. We will continue to execute our business strategy, improve operations and management and strive to sustain profitability.”

 

Third Quarter 2018 Results

 

Total revenues were $133.6 million, an increase of 40% from $95.2 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 $96.9 million, an increase of 57% from $61.8 million for the same quarter of 2017, primarily due to an increase in the average price per discount coupon redeemed.

 

Revenues from online advertising services were $36.0 million, an increase of 20% from $30.0 million for the same quarter of 2017, primarily due to an increase in property developers’ demand for online advertising.

 

Revenues from listing services were $0.8 million, a decrease of 77% from $3.4 million for the same quarter of 2017, primarily due to a decrease in secondary real estate brokers’ demand.

 

Cost of revenues was $16.9 million, a decrease of 20% from $21.1 million for the same quarter of 2017, primarily due to decreased staff cost as a result of headcount change.

 

Selling, general and administrative expenses were $106.2 million, an increase of 3% from $103.5 million for the same quarter of 2017, primarily due to increased marketing expenses related to the Company’s e-commerce business, partially offset by decreased staff cost as a result of headcount change and deceased office and other operating expenses.

 

Income from operations was $11.3 million, compared to loss from operations of $29.3 million for the same quarter of 2017. Non-GAAP income from operations was $15.6 million, compared to non-GAAP loss from operations of $24.9 million for the same quarter of 2017.

 

Other loss, net was $3.9 million, compared to $0.3 million for the same quarter of 2017, primarily due to $3.7 million foreign exchange loss recognized for the third quarter of 2018.

 

Net income was $7.3 million, compared to net loss of $23.4 million for the same quarter of 2017. Non-GAAP net income was $10.8 million, compared to non-GAAP net loss of $19.5 million for the same quarter of 2017.

 

Net income attributable to Leju Holdings Limited shareholders was $6.8 million, or $0.05 per diluted ADS, compared to net loss attributable to Leju Holdings Limited shareholders of $23.1 million, or $0.17 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $10.3 million, or $0.08 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.

 

First Nine Months 2018 Results

 

Total revenues were $337.8 million, an increase of 32% from $256.2 million for the same period of 2017, mainly due to an increase in revenues from e-commerce services and online advertising services.

 

Revenues from e-commerce services were $237.9 million, an increase of 45% from $163.6 million for the same period of 2017, primarily due to an increase in the average price per discount coupons redeemed, partially offset by a decrease in the number of discount coupons redeemed.

 


 

Revenues from online advertising services were $97.5 million, an increase of 21% from $80.5 million for the same period of 2017, primarily due to an increase in property developers’ demand for online advertising.

 

Revenues from listing services were $2.4 million, a decrease of 80% from $12.0 million for the same period of 2017, primarily due to a decrease in secondary real estate brokers’ demand.

 

Cost of revenues was $54.0 million, a decrease of 1% from $54.4 million for the same period of 2017, primarily due to decreased staff costs as a result of headcount change, partially offset by increased cost of advertising resources purchased from media platforms.

 

Selling, general and administrative expenses were $296.1 million, a decrease of 8% from $322.0 million for the same period of 2017, primarily due to decreased staff costs as a result of headcount change.

 

Loss from operations was $10.2 million, a decrease of 94% from $158.6 million for the same period of 2017. Non-GAAP income from operations was $2.8 million, compared to non-GAAP loss from operations of $104.1 million for the same period of 2017.

 

Other loss, net was $6.3 million, compared to $0.6 million for the same period of 2017, primarily due to $5.7 million foreign exchange loss recognized for the first nine months of 2018.

 

Net loss was $15.0 million, a decrease of 89% from $139.6 million for the same period of 2017. Non-GAAP net loss was $4.4 million, a decrease of 95% from $86.7 million for the same period of 2017.

 

Net loss attributable to Leju Holdings Limited shareholders was $14.9 million, or $0.11 loss per diluted ADS, a decrease of 89% from $138.6 million, or $1.02 loss per diluted ADS for the same period of 2017. Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $4.4 million, or $0.03 loss per diluted ADS, a decrease of 95% from $85.7 million, or $0.63 loss per diluted ADS for the same period of 2017.

 

Cash Flow

 

As of September 30, 2018, the Company’s cash and cash equivalents balance was $165.1 million.

 

Third quarter 2018 net cash used in operating activities was $4.0 million, primarily comprised of an increase in accounts receivable of $10.1 million and a decreased in advance from customers and deferred revenue of $5.7 million, partially offset by non-GAAP net income of $10.8 million.

 

Business Outlook

 

The Company estimates that its total revenues for the fourth quarter of 2018 will be approximately 120 million to 130 million, which would represent an increase of approximately 13% to 22% from $106.4 million in the same quarter in 2017. This forecast reflects the Company’s current and preliminary view, which is subject to change.

 

Leju to Hold Annual General Meeting on December 21, 2018

 

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 21, 2018 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.

 

Holders of record of the Company’s ordinary shares at the close of business on November 26, 2018 (Eastern Standard 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 19, 2018 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 November 27, 2018:

 

U.S./International:

 

+1-855-452-5696

Hong Kong:          

 

800-963-117

Mainland China:   

 

400-632-2162

Passcode:

 

4590658

 

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.

 


 

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

 


 

LEJU HOLDINGS LIMITED

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

 

 

 

December 31,

 

September 30,

 

 

 

2017

 

2018

 

ASSETS

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

 

150,968

 

165,122

 

Restricted cash

 

337

 

 

Accounts receivable, net

 

79,196

 

91,671

 

Contract assets

 

1,410

 

2,520

 

Marketable securities

 

3,077

 

2,333

 

Prepaid expenses and other current assets

 

9,945

 

8,906

 

Customer deposits

 

35,823

 

7,637

 

Amounts due from related parties

 

4,077

 

6,800

 

Total current assets

 

284,833

 

284,989

 

Property and equipment, net

 

14,240

 

13,712

 

Intangible assets, net

 

70,631

 

60,640

 

Investment in affiliates

 

146

 

71

 

Deferred tax assets

 

67,084

 

63,719

 

Other non-current assets

 

2,010

 

1,400

 

Total assets

 

438,944

 

424,531

 

LIABILITIES AND EQUITY

 

 

 

 

 

Current liabilities

 

 

 

 

 

Accounts payable

 

2,950

 

4,569

 

Accrued payroll and welfare expenses

 

37,082

 

28,939

 

Income tax payable

 

63,380

 

56,678

 

Other tax payable

 

11,654

 

13,204

 

Amounts due to related parties

 

3,093

 

3,362

 

Advance from customers and deferred revenue

 

10,565

 

27,845

 

Accrued marketing and advertising expenses

 

18,852

 

18,540

 

Other current liabilities

 

16,315

 

13,081

 

Total current liabilities

 

163,891

 

166,218

 

Deferred tax liabilities

 

18,016

 

17,113

 

Total liabilities

 

181,907

 

183,331

 

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 September 30, 2018, respectively

 

136

 

136

 

Additional paid-in capital

 

788,589

 

791,701

 

Accumulated deficit

 

(515,344

)

(530,246

)

Accumulated other comprehensive loss

 

(13,078

)

(17,217

)

Total Leju Holdings Limited shareholders’ equity

 

260,303

 

244,374

 

Non-controlling interests

 

(3,266

)

(3,174

)

Total equity

 

257,037

 

241,200

 

TOTAL LIABILITIES AND EQUITY

 

438,944

 

424,531

 

 


 

LEJU HOLDINGS LIMITED

UNAUDITED 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,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

E-commerce

 

61,809

 

96,853

 

163,619

 

237,894

 

Online advertising services

 

29,963

 

35,968

 

80,516

 

97,459

 

Listing services

 

3,395

 

767

 

12,029

 

2,434

 

Total revenues

 

95,167

 

133,588

 

256,164

 

337,787

 

Cost of revenues

 

(21,144

)

(16,935

)

(54,437

)

(54,015

)

Selling, general and administrative expenses

 

(103,531

)

(106,195

)

(321,983

)

(296,122

)

Goodwill impairment charge

 

 

 

(41,223

)

 

Other operating income

 

159

 

850

 

2,901

 

2,158

 

Income (loss) from operations

 

(29,349

)

11,308

 

(158,578

)

(10,192

)

Interest income

 

411

 

286

 

988

 

845

 

Other loss, net

 

(316

)

(3,897

)

(623

)

(6,269

)

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

 

(29,254

)

7,697

 

(158,213

)

(15,616

)

Income tax benefits (expenses)

 

5,893

 

(361

)

18,818

 

732

 

Income (loss) before loss from equity in affiliates

 

(23,361

)

7,336

 

(139,395

)

(14,884

)

Loss from equity in affiliates

 

(56

)

(19

)

(188

)

(70

)

Net income (loss)

 

(23,417

)

7,317

 

(139,583

)

(14,954

)

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

 

(294

)

473

 

(984

)

(52

)

Income (loss) attributable to Leju Holdings Limited shareholders

 

(23,123

)

6,844

 

(138,599

)

(14,902

)

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per ADS:

 

 

 

 

 

 

 

 

 

Basic/ Diluted

 

(0.17

)

0.05

 

(1.02

)

(0.11

)

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

 

 

 

 

 

 

 

 

 

Basic/ Diluted

 

135,763,962

 

135,763,962

 

135,689,813

 

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 = RMB6.8792 on September 30, 2018 and USD1 = RMB6.5307 for the nine months ended September 30, 2018

 


 

LEJU HOLDINGS LIMITED

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(In thousands of U.S. dollars)

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

(23,417

)

7,317

 

(139,583

)

(14,954

)

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

1,353

 

(3,243

)

5,621

 

(4,016

)

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

(22,064

)

4,074

 

(133,962

)

(18,970

)

 

 

 

 

 

 

 

 

 

 

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

 

(333

)

551

 

(1,062

)

71

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss) attributable to Leju Holdings Limited shareholders

 

(21,731

)

3,523

 

(132,900

)

(19,041

)

 


 

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,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

GAAP income (loss) from operations

 

(29,349

)

11,308

 

(158,578

)

(10,192

)

Share-based compensation expense

 

976

 

1,098

 

3,374

 

3,133

 

Amortization of intangible assets resulting from business acquisitions

 

3,485

 

3,204

 

9,848

 

9,859

 

Goodwill impairment

 

 

 

41,223

 

 

Non-GAAP income (loss) from operations

 

(24,888

)

15,610

 

(104,133

)

2,800

 

 

 

 

 

 

 

 

 

 

 

GAAP net income (loss)

 

(23,417

)

7,317

 

(139,583

)

(14,954

)

Share-based compensation expense

 

976

 

1,098

 

3,374

 

3,133

 

Amortization of intangible assets resulting from business acquisitions

 

3,485

 

3,204

 

9,848

 

9,859

 

Goodwill impairment

 

 

 

41,223

 

 

Income tax benefits:

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred2

 

(574

)

(801

)

(1,570

)

(2,465

)

Non-GAAP net income (loss)

 

(19,530

)

10,818

 

(86,708

)

(4,427

)

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Leju Holdings Limited shareholder

 

(23,123

)

6,844

 

(138,599

)

(14,902

)

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

 

967

 

1,094

 

3,349

 

3,113

 

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

 

3,485

 

3,204

 

9,848

 

9,859

 

Goodwill impairment

 

 

 

41,223

 

 

Income tax benefits (net of non-controlling interests)

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

Deferred

 

(574

)

(801

)

(1,570

)

(2,465

)

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

 

(19,245

)

10,341

 

(85,749

)

(4,395

)

 

 

 

 

 

 

 

 

 

 

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

 

(0.17

)

0.05

 

(1.02

)

(0.11

)

 

 

 

 

 

 

 

 

 

 

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

 

(0.14

)

0.08

 

(0.63

)

(0.03

)

 

 

 

 

 

 

 

 

 

 

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

 

135,763,962

 

135,763,962

 

135,689,813

 

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 is nil.

 


 

LEJU HOLDINGS LIMITED

SELECTED OPERATING DATA

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2017

 

2018

 

2017

 

2018

 

 

 

 

 

 

 

 

 

 

 

Operating data for e-commerce services

 

 

 

 

 

 

 

 

 

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

 

58,168

 

31,554

 

198,899

 

109,484

 

Number of discount coupons redeemed (number of transactions)

 

30,717

 

30,807

 

82,374

 

65,494

 

 


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 21, 2018
(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 21, 2018 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 November 26, 2018 (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, 15/F Floor, Shoudong International Plaza, No.5 Building, Gungqu Home, Dongcheng District, Beijing 100022, 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 19, 2018