BEIJING, March 31, 2017 /PRNewswire/ -- Fang Holdings
Limited (NYSE: SFUN) ("Fang" or "we"), the leading real estate
Internet portal in China, today
announced its unaudited financial results for fourth quarter and
fiscal year ended December 31,
2016.
Fourth Quarter 2016 Highlights
- Total revenues were $174.7
million.
- Operating loss was $8.9
million. Non-GAAP operating loss was $6.4 million. A description of the adjustments
from GAAP to non-GAAP operating income is detailed in the
Reconciliation Statement following this press release.
- Net loss attributable to Fang's shareholders was
$10.4 million. Fully diluted loss per
ADS was 0.02.
- Non-GAAP net loss attributable to Fang's shareholders
was $8.9 million. Non-GAAP fully diluted loss per ADS was
0.02. A description of the adjustments from GAAP to non-GAAP
net loss attributable to Fang's shareholders and fully diluted loss
per ADS is detailed in the Reconciliation Statement following this
press release.
- Net cash generated from operating activities was
$85.1 million in the fourth quarter
of 2016, compared to cash flow used in operating activities
$31.6 million in the same period of
2015
"I admit that our two-year long transformation is a failure up
to today. We did not know in depth of the new markets and new
business lines. We were too aggressive in transformations at the
same time with all of our business lines," said Vincent Mo, Chairman and CEO of Fang.com. "We
are making adjustments to our transformations. We will return to
open-platform strategy in which we will support and facilitate
businesses of our partners including developers, brokers and
agents, property owners and buyers, and other home related
companies and professionals."
Fourth Quarter 2016 Results
Revenues
Fang reported total revenues of $174.7
million in the fourth quarter of 2016, a 42% decrease from
$300.7 million in the corresponding
period of 2015, primarily due to the decline in e-commerce and
marketing services.
Revenue from e-commerce services was $89.9 million in the fourth quarter of 2016, a
decrease of 48% from $173.9 million
in the corresponding period of 2015. The decline was primarily due
to the decreased transaction volume impacted by the tightening
regulations, as well as the strategic change to have scaled down on
rental and home furnishing business.
Revenue from marketing services was $48.0
million in the fourth quarter of 2016, a decrease of 42%
from $83.0 million in the
corresponding period of 2015, primarily due to less demand from
property developers for online advertising under the regulatory
change.
Revenue from listing services was $38.6
million in the fourth quarter of 2016, an increase of 74.0%
from $22.3 million in the
corresponding period of 2015, driven by the increased number of
paying members and unit price.
Revenue from Internet financial services was $0.6 million in the fourth quarter of 2016, a
decrease of 96.0% from $15.6 million
in the corresponding period of 2015, primarily due to the policy
impact on the new home financial services and the decreased
secondary transaction volumes of the Company's own brokerage
services.
Revenue from other value-added services was negative
$2.4 million in the fourth quarter of
2016, compared to $5.9 million in the
corresponding period of 2015, primarily due to the
re-classification accounting treatment of BaoAn's revenue.
Cost of Revenue
Cost of revenue was $89.4 million
in the fourth quarter of 2016, a decrease of 59.1% from
$218.4 million in the corresponding
period of 2015. The decrease in cost of revenue was mainly due to
the downsizing of the secondary agent team and the scaling down of
rental and home furnishing in ecommerce services.
Operating Expense
Operating expenses were $94.6
million in the fourth quarter of 2016, a decrease of 18%
from $114.9 million in the
corresponding period of 2015.
Selling expenses were $59.2
million in the fourth quarter of 2016, a decrease of 27.2%
from $81.3 million in the mainly due
to the decrease of sales staff cost.
General and administrative expenses were $35.3 million in the fourth quarter of 2016, an
increase of 5.2% from $33.6 million
for the corresponding period of 2015, primarily due to the
increased bad-debt expense.
Operating Loss/Income
Operating loss was $8.9 million in
the fourth quarter of 2016, compared to operating loss of $32.6 million in the corresponding period of
2015, which is attributable to the strategic change of optimization
and effective cost control.
Income Tax Benefit/Expenses
Income tax expenses were $3.1
million in the fourth quarter of 2016, compared to income
tax expenses of $7.5 million in the
corresponding period of 2015.
Net Loss and EPS
Net loss attributable to Fang's shareholders was $10.4 million in the fourth quarter of 2016,
compared to net loss of $38.8 million
in the corresponding period of 2015. Loss per fully-diluted
ordinary share and ADS were $0.11 and
$0.02 in the fourth quarter of 2016,
compared to loss of $0.44 and
$0.09, respectively, in the
corresponding period of 2015.
Adjusted EBITDA
Adjusted EBITDA, defined as non-GAAP net income before income
taxes, interest expenses, interest income, depreciation and
amortization, was $2.4 million in the
fourth quarter of 2016, compared to the loss of $23.4 million in the corresponding period of
2015.
Cash
As of December 31, 2016, Fang had
cash, cash equivalents, and short-term investments of $590.5 million, compared to $983.7 million as of December 31, 2016. Net cash generated from
operating activities was $85.1
million in the fourth quarter of 2016, compared to cash flow
used in operating activities of $31.6
million in the same period of 2015, primarily due to the
decrease of loan receivables of $80.4
million for the three months ended December 31, 2016.
Fiscal Year 2016 Results
Revenues
Fang reported total revenues of $916.4
million for 2016, representing an increase of 4% from
$883.5 million for 2015, primarily
driven by the growth in e-commerce services.
Revenue from marketing services was $165.4 million for 2016, a decrease of 34% from
$249.9million for 2015, primarily due
to less demand from property developers.
Revenue from e-commerce services was $577.7 million for 2016, an increase of 22% from
$474.8 million for 2015, primarily
driven by the fast growth of our secondary brokerage services.
Revenue from listing services was $118.1
million for 2016, an increase of 9% from $107.9 million for 2015, driven by the increased
number of paying member and unit price.
Revenue from financial services was $29.6
million for 2016, flat with $29.6
million in 2015
Revenue from other value-added services was $25.6 million for 2016, an increase of 20% from
$21.4 million for 2015, primarily
driven by the rapid growth of our research related
products.
Cost of Revenue
Cost of revenue was $687.2 million
for 2016, an increase of 23.7% from $555.4
million for 2015. The increase in cost of revenue was mainly
due to the increased staff cost in secondary brokerage
services.
Operating Expenses
Operating expenses were $381.1
million for 2016, an increase of 5.3% from $362.0 million for 2015.
Selling expenses were $229.8
million for 2016, a decrease of 2.9% from $236.6 million for 2015, primarily due to
slightly decreased staff cost in selling expenses.
General and administrative expenses were $151.3 million for 2016, an increase of 20.6%
from $125.4 million for 2015,
primarily due to increased bad-debt expense.
Operating Loss
Operating loss was $151.5 million
for 2016, compare with operating loss of $34.5 million for 2015.
Income Tax Expenses/Benefit
Income tax expenses were $25.0
million for 2016, compared to $5.9
million of income tax benefit for the corresponding period
in 2015. The expenses increase was primarily due to no reversal or
accrual of withholding tax for the dividend declared in 2016.
Net Loss and EPS
Net loss attributable to Fang's shareholders was $169.6 million for 2016, compared to $15.1 million for the corresponding period in
2015. Fully diluted loss per ADS was $0.36 for 2016, compared to $0.04 for 2015.
Adjusted EBITDA
Adjusted EBITDA, defined as non-GAAP net income before income
taxes, interest expenses, interest income, depreciation and
amortization, was $121.2 million of
loss for 2016, compared to $9.6
million of loss for 2015.
Cash
Cash generated from operating activities was $131.2 million for 2016, compared to net cash
used in operating activities $165.3
million for 2015, primarily due to the decrease of loan
receivables of $263.6 million for the
three months ended December 31,
2016.
Business Outlook
The Company is undergoing adjustments to its transformations and
the company is planning to return to open-platform strategy. Before
these changes are finalized, the company will see a decrease in its
top line revenue but will expect to be profitable for the whole
year 2017.
Conference Call Information
Fang's management team will host a conference call on the same
day at 8:00 AM U.S. EST (8:00 PM Beijing/Hong
Kong time). The dial-in details for the live conference call
are:
International
Toll:
|
+65
67135090
|
Local
Toll:
|
|
United
States
|
+1 845-675-0437 / +1
866-519-4004
|
Hong Kong
|
+852 3018-6771 / +852
800-906-601
|
Mainland
China
|
+86 400-620-8038 /
+86 800-819-0121
|
Passcode:
|
SFUN
|
A telephone replay of the call will be available after the
conclusion of the conference call from 11:00
ET on Mar 31, 2017 through
9:59 ET April
8, 2017. The dial-in details for the telephone replay
are:
International
Toll:
|
+61
2-8199-0299
|
Toll-Free:
|
|
United
States
|
+1 855-452-5696 / +1
646-254-3697
|
Hong Kong
|
+852 800-963-117 /
+852 3051-2780
|
Mainland
China
|
+86 400-602-2065 /
+86 800-870-0205
|
Conference
ID:
|
94961713
|
A live and archived webcast of the conference call will be
available on Fang's website at http://ir.fang.com.
About Fang
Fang operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through our websites, we
provide e-commerce, marketing, listing, financial and other
value-added services for China's
fast-growing real estate and home furnishing and improvement
sectors. Our user-friendly websites support active online
communities and networks of users seeking information on, and other
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains about 100 offices to focus on local market
needs and its website and database contains real estate related
content covering more than 629 cities in China. For more information about Fang, please
visit http://ir.fang.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions. Such forward-looking statements include, without
limitation, statements regarding Fang's future financial
performance, revenue guidance for 2017, growth and growth rates,
and market position and continued business transformation.
Statements that are not historical facts, including statements
about Fang's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, without limitation, the impact of Fang's transformation
from a pure Internet information platform to a transaction-oriented
platform, the impact of Fang's implementation of a "zero tolerance
policy" that has resulted in dismissal of employees, the impact of
the slowdown in China's real
estate market on Fang and the impact on revenues of our existing
and new service fees reductions, the ability of Fang to retain real
estate listing agencies as customers during challenging economic
periods, the success of Fang's new business initiatives, the
ability of Fang to manage its operating expenses, the impact of,
measures taken or to be taken by the Chinese government to control
real estate growth and prices and other events which could occur in
the future, economic challenges in China's real estate market, the impact of
competitive market conditions for our services, our ability to
maintain and increase our leadership in China's home related internet sector, the
uncertain regulatory landscape in China, fluctuations in our quarterly operating
results, our continued ability to execute business strategies
including our SouFun membership services and SouFun Online Shop,
our ability to continue to expand in local markets, our reliance on
online advertising sales and listing services and transactions for
our revenues, any failure to successfully develop and expand our
content, service offerings and features, including the success of
new features to meet evolving market needs, and the technologies
that support them, the quality of the loans we originate and resell
and the performance of those loans in the future, our ability to
successfully service and process customer loans for our own benefit
and for the purchasers of those loans and, should we in the future
make acquisitions, any failure to successfully integrate acquired
businesses.
For investor and media inquiries, please contact:
Dr. Hua Lei
CFO
Phone: +86-10-5631-8661
Email: leihua@fang.com
Ms. Joyce Tang
Senior Investor Relations Manager
Phone: +86-10-5631 8659
Email: tangjunning@fang.com
Ms. Dana Cheng
Investor Relations Manager
Phone: +86-10-5631 8174
Email: chengyu.bj@fang.com
Fang Holdings
Limited
|
Condensed
Consolidated Balance Sheets
|
(in thousands of
U.S. dollars, except share data and per share data)
|
ASSETS
|
December
31,
|
December
31,
|
|
2,016
|
2,015
|
Current
assets:
|
(Unaudited)
|
(Audited)
|
|
Cash and cash
equivalents
|
336,528
|
817,921
|
|
Restricted
cash, current
|
211,084
|
103,179
|
|
Short-term
investments
|
42,929
|
62,559
|
|
Accounts
receivable, net
|
93,672
|
147,516
|
|
Funds
receivable
|
20,483
|
45,400
|
|
Prepayment and
other current assets
|
39,824
|
60,265
|
|
Commitment
deposits
|
6,527
|
10,646
|
|
Loan
receivable, current
|
41,966
|
266,990
|
|
Amount due from
related parties
|
197
|
262
|
Total
current assets
|
793,210
|
1,514,738
|
Non-current
assets:
|
|
|
|
Property and
equipment, net
|
319,897
|
326,504
|
|
Loan
receivable, non-current
|
16,808
|
55,349
|
|
Deferred tax
assets, non-current
|
4,915
|
5,490
|
|
Deposit for
non-current assets
|
240,712
|
137,715
|
|
Long-term
investments
|
231,880
|
244,678
|
|
Other
non-current assets1
|
7,391
|
7,569
|
Total
non-current assets
|
821,603
|
777,305
|
Total
assets
|
1,614,813
|
2,292,043
|
|
|
|
|
LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
|
Current
liabilities:
|
|
|
|
Short-term
loans
|
212,734
|
100,000
|
|
Deferred
revenue
|
129,765
|
145,321
|
|
Accrued
expenses and other liabilities
|
318,540
|
361,593
|
|
Customers'
refundable fees
|
28,630
|
59,107
|
|
Income tax
payable
|
6,022
|
9,948
|
|
Convertible
senior notes-current1
|
-
|
396,716
|
Total
current liabilities
|
695,691
|
1,072,685
|
Non-current
liabilities:
|
|
|
|
Long-term
loans
|
65,190
|
-
|
|
Convertible
senior notes
|
295,268
|
287,887
|
|
Deferred tax
liabilities, non-current
|
70,424
|
76,631
|
|
Other
non-current liabilities
|
415
|
312
|
Total
non-current liabilities
|
431,297
|
364,830
|
Total
Liabilities
|
1,126,988
|
1,437,515
|
|
|
|
|
Equity:
|
|
|
|
|
Class A ordinary
shares, par value Hong Kong Dollar ("HK$") 1 per share,
600,000,000
shares authorized for Class A and Class B in aggregate, and
64,012,758 shares and
70,736,679 shares issued and outstanding as at December 31, 2016
and December 31,
2015, respectively
|
9,157
|
9,110
|
|
Class B ordinary
shares, par value HK$1 per share, 600,000,000 shares authorized
for
Class A and Class B in aggregate, and 24,336,650 shares and
24,336,650 shares issued
and outstanding as at December 31, 2016 and December 31, 2015,
respectively
|
3,124
|
3,124
|
|
Treasure
stock
|
(136,615)
|
-
|
|
Additional paid-in
capital
|
488,943
|
478,391
|
|
Accumulated other
comprehensive income
|
(81,349)
|
(10,364)
|
|
Retained
earnings
|
203,870
|
373,505
|
Total Fang
Holdings Limited shareholders' equity
|
487,130
|
853,766
|
|
Non-controlling
interests
|
695
|
761
|
Total
equity
|
487,825
|
854,527
|
TOTAL
LIABILITIES AND EQUITY
|
1,614,813
|
2,292,043
|
Condensed
Consolidated Statements of Comprehensive
Income
|
(in
thousands of U.S. dollars, except share data and per share
data)
|
|
|
|
Three months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
|
2,016
|
|
2,015
|
|
2,016
|
|
2,015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
Revenues:
|
|
|
|
|
|
|
|
|
E-commerce
services
|
89,853
|
|
173,863
|
|
577,684
|
|
474,810
|
|
Marketing
services
|
48,019
|
|
82,995
|
|
165,437
|
|
249,862
|
|
Listing
services
|
38,628
|
|
22,261
|
|
118,109
|
|
107,922
|
|
Financial
services
|
606
|
|
15,648
|
|
29,602
|
|
29,582
|
|
Other
value-added services and
other services
|
(2,443)
|
|
5,895
|
|
25,559
|
|
21,373
|
Total
revenues
|
174,663
|
|
300,662
|
|
916,391
|
|
883,549
|
|
|
|
|
|
|
|
|
|
Cost of
Revenues:
|
|
|
|
|
|
|
|
|
Cost of
services
|
(89,403)
|
|
(218,367)
|
|
(687,184)
|
|
(555,389)
|
Total Cost
of Revenues
|
(89,403)
|
|
(218,367)
|
|
(687,184)
|
|
(555,389)
|
|
|
|
|
|
|
|
|
|
Gross
Profit
|
85,260
|
|
82,295
|
|
229,207
|
|
328,160
|
|
|
|
|
|
|
|
|
|
Operating
expenses and income:
|
|
|
|
|
|
|
|
Selling
expenses
|
(59,227)
|
|
(81,306)
|
|
(229,817)
|
|
(236,603)
|
|
General and
administrative expenses
|
(35,338)
|
|
(33,595)
|
|
(151,251)
|
|
(125,405)
|
|
Other
income
|
415
|
|
37
|
|
415
|
|
(625)
|
Operating
Income (loss)
|
(8,891)
|
|
(32,569)
|
|
(151,446)
|
|
(34,473)
|
|
Foreign
exchange gain (loss)
|
6,451
|
|
1,307
|
|
(1,882)
|
|
1,464
|
|
Realized
(loss) gain on
available-for-sale securities
(including accumulated other
comprehensive income
reclassifications for unrealized
(loss) gain on available-for-sale
securities of nil, US$10,583 for
the year ended December 31,
2015, 2016 respectively)
|
-
|
|
-
|
|
10,583
|
|
-
|
|
Interest
income
|
2,884
|
|
2,833
|
|
11,367
|
|
22,221
|
|
Interest
expense
|
(7,514)
|
|
(4,367)
|
|
(20,791)
|
|
(16,519)
|
|
Investment
income
|
1,056
|
|
358
|
|
3,281
|
|
1,333
|
|
Government
grants
|
940
|
|
1,150
|
|
6,469
|
|
4,936
|
|
Other-than-temporary
impairment on available-for-sale
securities
|
(2,232)
|
|
-
|
|
(2,232)
|
|
-
|
Income
(loss) before income taxes
and noncontrolling interests
|
(7,305)
|
|
(31,288)
|
|
(144,651)
|
|
(21,038)
|
Income tax
expenses
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
(3,079)
|
|
(7,530)
|
|
(24,983)
|
|
5,905
|
Net income
(loss)
|
(10,385)
|
|
(38,818)
|
|
(169,635)
|
|
(15,133)
|
|
Net income
attributable to noncontrolling interests
|
(2)
|
|
(4)
|
|
-
|
|
(37)
|
Net income
(loss) attributable to Fang
Holdings Limited shareholders
|
(10,383)
|
|
(38,814)
|
|
(169,635)
|
|
(15,096)
|
Other
comprehensive income (loss), net of tax
|
|
|
|
|
|
|
|
Foreign
currency Translation
|
(81,642)
|
|
(21,593)
|
|
(67,728)
|
|
(55,928)
|
|
Amounts reclassified
from
accumulated other
comprehensive income
|
-
|
|
-
|
|
(10,583)
|
|
-
|
|
Unrealized gain on
available-for-
sale security
|
(1,057)
|
|
4,612
|
|
7,326
|
|
(4,002)
|
Total other
comprehensive income
(loss), net of tax
|
(82,699)
|
|
(16,981)
|
|
(70,985)
|
|
(59,930)
|
Comprehensive income
(loss)
|
(93,084)
|
|
(55,799)
|
|
(240,620)
|
|
44,830
|
Earnings per
share for Class A and Class B ordinary shares
|
|
|
|
|
|
Basic
|
(0.11)
|
|
(0.44)
|
|
(1.81)
|
|
(0.18)
|
|
Diluted
|
(0.11)
|
|
(0.44)
|
|
(1.81)
|
|
(0.18)
|
Earnings per
ADS
|
|
|
|
|
|
|
|
|
Basic
|
(0.02)
|
|
(0.09)
|
|
(0.36)
|
|
(0.04)
|
|
Diluted
|
(0.02)
|
|
(0.09)
|
|
(0.36)
|
|
(0.04)
|
Weighted
average number of Class A and Class B ordinary shares
outstanding:
|
|
|
|
|
|
Basic
|
91,214,789
|
|
88,189,443
|
|
93,659,152
|
|
85,170,886
|
|
Diluted
|
91,214,789
|
|
88,189,443
|
|
93,659,152
|
|
85,170,886
|
Weighted
average number of ADSs outstanding:
|
|
|
|
|
|
|
|
Basic
|
456,073,946
|
|
440,947,315
|
|
468,295,759
|
|
425,854,430
|
|
Diluted
|
456,073,946
|
|
440,947,315
|
|
468,295,759
|
|
425,854,430
|
Fang Holdings
Limited
|
Reconciliation of GAAP and Non-GAAP
Results
|
( in
thousands of U.S. dollars, except share data and per share
data)
|
|
|
Three months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
|
2,016
|
|
2,015
|
|
2,016
|
|
2,015
|
|
GAAP income
from operations
|
(8,891)
|
|
(32,567)
|
|
(151,447)
|
|
(34,473)
|
|
Share-based
compensation expense
|
2,545
|
|
856
|
|
9,477
|
|
4,008
|
|
Non-GAAP
income from operations
|
(6,346)
|
|
(31,711)
|
|
(141,970)
|
|
(30,465)
|
|
|
|
|
|
|
|
|
|
|
GAAP net
income
|
(10,385)
|
|
(38,816)
|
|
(169,635)
|
|
(15,133)
|
|
One-off tax
benefit
|
-
|
|
(30,578)
|
|
-
|
|
(61,162)
|
|
Investment
income
|
(1,056)
|
|
(358)
|
|
(13,864)
|
|
(1,333)
|
|
Share-based
compensation expense
|
2,545
|
|
856
|
|
9,477
|
|
4,008
|
|
Non-GAAP net
income
|
(8,896)
|
|
(68,896)
|
|
(174,022)
|
|
(73,620)
|
|
|
|
|
|
|
|
|
|
|
Net Income
attributable to Fang
shareholders
|
(10,383)
|
|
(38,812)
|
|
(169,635)
|
|
(15,096)
|
|
One-off tax
benefit
|
-
|
|
(30,578)
|
|
-
|
|
(61,162)
|
|
Investment
income
|
(1,056)
|
|
(358)
|
|
(13,864)
|
|
(1,333)
|
|
Share-based
compensation expense
|
2,545
|
|
856
|
|
9,477
|
|
4,008
|
|
Non-GAAP net
Income attributable to
Fang Holdings Limited shareholders
|
(8,894)
|
|
(68,892)
|
|
(174,022)
|
|
(73,583)
|
|
|
|
|
|
|
|
|
|
|
GAAP earnings
per share for Class A and
Class B ordinary shares:
|
|
|
|
|
|
|
|
|
Basic
|
(0.11)
|
|
(0.44)
|
|
(1.81)
|
|
(0.18)
|
|
Diluted
|
(0.11)
|
|
(0.44)
|
|
(1.81)
|
|
(0.18)
|
|
GAAP earnings
per ADS:
|
|
|
|
|
|
|
|
|
Basic
|
(0.02)
|
|
(0.09)
|
|
(0.36)
|
|
(0.04)
|
|
Diluted
|
(0.02)
|
|
(0.09)
|
|
(0.36)
|
|
(0.04)
|
|
Non-GAAP
earnings per share for Class A
and Class B ordinary shares:
|
|
|
|
|
|
|
|
|
Basic
|
(0.10)
|
|
(0.78)
|
|
(1.86)
|
|
(0.86)
|
|
Diluted
|
(0.10)
|
|
(0.78)
|
|
(1.86)
|
|
(0.86)
|
Non-GAAP
earnings per ADS:
|
|
|
|
|
|
|
|
|
Basic
|
(0.02)
|
|
(0.16)
|
|
(0.37)
|
|
(0.17)
|
|
Diluted
|
(0.02)
|
|
(0.16)
|
|
(0.37)
|
|
(0.17)
|
|
Weighted
average number of Class
A and Class B ordinary shares outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
91,214,789
|
|
88,189,443
|
|
93,659,152
|
|
85,170,886
|
|
Diluted
|
91,214,789
|
|
88,189,443
|
|
93,659,152
|
|
85,170,886
|
Weighted
average number of ADSs outstanding:
|
|
|
|
|
|
|
|
Basic
|
456,073,946
|
|
440,947,215
|
|
468,295,759
|
|
425,854,430
|
|
Diluted
|
456,073,946
|
|
440,947,215
|
|
468,295,759
|
|
425,854,430
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Net
income
|
(8,896)
|
|
(68,896)
|
|
(174,022)
|
|
(73,620)
|
Add
back:
|
|
|
|
|
|
|
|
|
Interest
expense
|
7,514
|
|
3,927
|
|
20,791
|
|
16,519
|
|
Income tax
expenses
|
3,079
|
|
42,371
|
|
24,983
|
|
59,519
|
|
Depreciation
expenses
|
3,562
|
|
3,813
|
|
18,442
|
|
14,544
|
Subtract:
|
|
|
|
|
|
|
|
|
Interest
income
|
(2,884)
|
|
(4,680)
|
|
(11,367)
|
|
(22,221)
|
|
Adjusted
EBITDA
|
2,375
|
|
(23,465)
|
|
(121,173)
|
|
(5,259)
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fang-announces-fourth-quarter-and-fiscal-year-2016-results-300432534.html
SOURCE Fang Holdings Limited