China Index Holdings Ltd

CIK:0001749797|SEC Filings

COMBINED AND CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Revenues (including revenues from related parties of RMB43,678, RMB11,006 and RMB238 for the years ended December 31, 2019, 2020 and 2021, respectively)	¥ 620,953	¥ 635,910	¥ 579,650
Cost of revenues
Cost of revenues (including cost of revenues resulting from transactions with related parties of RMB11,082, RMB8,981 and RMB8,826 for the years ended December 31, 2019, 2020 and 2021, respectively)	(110,118)	(105,528)	(110,492)
Gross profit	510,835	530,382	469,158
Operating expenses:
Selling and marketing expenses (including selling and marketing expenses resulting from transactions with related parties of RMB4,761, RMB4,552 and RMB4,787 for the years ended December 31, 2019, 2020 and 2021, respectively)	(113,626)	(112,414)	(99,020)
General and administrative expenses (including general and administrative expenses resulting from transactions with related parties of RMB9,383, RMB2,088 and RMB2,008 for the years ended December 31, 2019, 2020 and 2021, respectively)	(81,667)	(85,700)	(77,773)
Bad debt expense (including bad debt expense resulting from transactions with a related party of nil, RMB547,069 and RMB1,998 for the years ended December 31, 2019, 2020 and 2021, respectively)	(8,767)	(559,445)	(4,842)
Operating income (loss)	306,775	(227,177)	287,523
Interest income	9,750	1,625	2,200
Change in fair value of the warrants		1,359	(1,152)
Investment income	8,458	9,294	714
Government grants	765	5,997	903
Income (loss) before income taxes	325,748	(208,902)	290,188
Income tax expense	(46,500)	(109,454)	(44,737)
Net income (loss)	279,248	(318,356)	245,451
Less: net income (loss) attributable to noncontrolling interest holders	66	(304)
Net income (loss) attributable to China Index Holdings Limited	279,182	(318,052)	245,451
Other comprehensive income (loss)
Foreign currency translation adjustments, net of nil income taxes	12,811	1,012	(7)
Unrealized holding gains on short-term investments, net of RMB107, nil and nil income taxes for the years ended December 31, 2019, 2020 and 2021, respectively			607
Less: Reclassification adjustment for gains on short-term investments realized in net income, net of RMB107, nil and nil income taxes for the years ended December 31, 2019, 2020 and 2021, respectively			(607)
Total comprehensive income (loss)	292,059	(317,344)	245,444
Less: comprehensive income (loss) attributable to noncontrolling interest holders	66	(304)
Comprehensive income (loss) attributable to China Index Holdings Limited	¥ 291,993	¥ (317,040)	¥ 245,444
Earnings (loss) per share for Class A and Class B ordinary shares
Basic	¥ 3.10	¥ (3.54)	¥ 2.74
Diluted	¥ 3.08	¥ (3.54)	¥ 2.74
Weighted average number of Class A and Class B ordinary shares and ordinary shares equivalents outstanding:
Basic	90,196,440	89,842,465	89,515,153
Diluted	90,602,539	89,842,465	89,545,710

COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	¥ 279,248	¥ (318,356)	¥ 245,451
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share-based compensation expense	4,943	8,612	8,234
Depreciation	1,411	1,196	1,119
Reduction in the carrying amount of the right-of-use assets	5,478	5,226	4,984
Allowance for doubtful accounts	6,769	12,376	4,842
Allowance for amounts due from a related party - non-current	1,998	547,069
Investment income	(8,458)	(9,294)	(714)
Deferred income tax expense (benefit)	(986)	60,516
Change in fair value of the warrants		(1,359)	1,152
(Gain) loss on disposal of property and equipment	(36)	(5)	2
Changes in operating assets and liabilities, net of effects of acquisition and disposal of subsidiaries:
Accounts receivable	(26,307)	(17,744)	(13,551)
Prepayments to and amounts due from related parties		4,820	(4,820)
Prepaid expenses and other current assets	(4,802)	(1,546)	(3,871)
Accounts payable	2,122	1,499	2,660
Amounts due to a related party	12,215	(7,282)	7,028
Deferred revenue	(7,945)	20,623	60,272
Income tax payable	(1,262)	3,341	8,916
Amounts due from a related party - non-current	(1,998)	(547,069)
Accrued expenses and other current liabilities	(7,067)	557,590	4,384
Long-term lease liabilities	2,143	(10,252)	(14,930)
Other non-current liabilities	(42,646)	17,583	22,881
Net cash provided by operating activities	214,820	327,544	334,039
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of short-term investments	(2,199,090)	(4,084,440)	(340,000)
Proceeds from sales of short-term investments	2,599,219	3,827,063	215,714
Purchase of property and equipment	(491)	(585)	(63)
Proceeds from disposal of property and equipment	36	5	1
Proceeds from disposal of subsidiaries		4,325
Cash disposed for sales of subsidiaries		(1,035)
Advance to a noncontrolling interest holder		(3,090)
Cash acquired from business acquisition		7
Advance to a third party	(18,151)
Repayment of advance to a noncontrolling interest holder	3,090
Net cash provided by (used in) investing activities	384,613	(257,750)	(124,348)
CASH FLOWS FROM FINANCING ACTIVITIES
Net transfers to the Parent Company			(160,194)
Cash received from a third party for loan collateral	18,141
Settlement of guarantee liability in relation to convertible notes issued by a related party	(540,375)
Net cash used in financing activities	(522,234)		(160,194)
Effect of foreign currency exchange rate changes on cash and cash equivalents	3,967	(3,515)	377
Net increase in cash and cash equivalents	81,166	66,279	49,874
Cash and cash equivalents as of the beginning of the year	280,355	214,076	164,202
Cash and cash equivalents as of the end of the year	361,521	280,355	214,076
Supplemental disclosure of cash flow information:
Income tax paid	29,394	25,645	12,940
Withholding income tax paid	¥ 62,000
Issuance of warrants in connection with the separation from Fang			¥ 207
Net assets and noncontrolling interests acquired in business acquisition		¥ 1,603

CONSOLIDATED BALANCE SHEETS - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	¥ 361,521	¥ 280,355
Short-term investments		391,671
Accounts receivable, net of allowance for doubtful accounts	49,217	29,680
Prepaid expenses and other current assets	25,531	2,557
Amounts due from a related party - current		3,090
Total current assets	436,269	707,353
Non-current assets:
Property and equipment, net	1,424	2,345
Right of use assets	38,892	44,369
Other non-current assets	4,212	3,270
Total non-current assets	44,528	49,984
Total assets	480,797	757,337
Current liabilities:
Accounts payable	11,465	9,343
Amounts due to a related party	12,300	156
Deferred revenue	216,188	224,141
Income taxes payable	25,474	26,737
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of RMB386 and RMB374 as of December 31, 2020 and 2021, respectively)	99,657	637,693
Total current liabilities	365,084	898,070
Non-current liabilities:
Long-term lease liabilities	29,570	27,427
Other non-current liabilities	75,288	117,987
Total non-current liabilities	104,858	145,414
Total liabilities	469,942	1,043,484
Commitments and contingencies
SHAREHOLDERS' EQUITY (DEFICIT)
Treasury shares (6,064,202 and 5,688,093 shares as of December 31, 2020 and 2021, respectively)	(39)	(42)
Capital deficit	(121,631)	(126,571)
Retained earnings (accumulated deficits)	116,454	(162,728)
Accumulated other comprehensive income	14,043	1,232
Total shareholders' equity (deficit) attributable to China Index Holdings Limited	9,490	(287,446)
Noncontrolling interests	1,365	1,299
Total shareholders' equity (deficit)	10,855	(286,147)
Total liabilities and shareholders' equity (deficit)	480,797	757,337
Class A ordinary shares
SHAREHOLDERS' EQUITY (DEFICIT)
Ordinary shares	500	500
Class B ordinary shares
SHAREHOLDERS' EQUITY (DEFICIT)
Ordinary shares	¥ 163	¥ 163