BEIJING, Aug. 23, 2018 /PRNewswire/ -- 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 half year
ended June 30, 2018.
Second Quarter 2018 Financial Highlights
- Total revenues increased by 32% year-on-year to $122.7 million.
- Revenues from e-commerce services increased by 37% year-on-year
to $87.6 million.
- Revenues from online advertising services increased by 39%
year-on-year to $34.4 million.
- Income from operations was $10.0
million, compared to loss from operations of $83.0 million for the same quarter of 2017.
Non-GAAP[1] income from operations was $14.3 million, compared to non-GAAP loss from
operations of $37.4 million for the
same quarter of 2017.
- Net loss attributable to Leju Holdings Limited shareholders was
$0.9 million, or $0.01 loss per diluted American depositary share
("ADS"), a decrease of 99% from $87.3
million, or $0.64 loss per
diluted ADS, for the same quarter of 2017. Non-GAAP net income
attributable to Leju Holdings Limited shareholders was $2.5 million, or $0.02 per diluted ADS, compared to non-GAAP net
loss attributable to Leju Holdings Limited shareholders of
$42.3 million, or $0.31 loss per diluted ADS, for the same quarter
of 2017.
First Half 2018 Financial Highlights
- Total revenues increased by 27% year-on-year to $204.2 million.
- Revenues from e-commerce services increased by 39% year-on-year
to $141.0 million.
- Revenues from online advertising services increased by 22%
year-on-year to $61.5 million.
- Loss from operations was $21.5
million, a decrease of 83% from $129.2 million for the same period of 2017.
Non-GAAP loss from operations was $12.8
million, a decrease of 84% from $79.2
million for the same period of 2017.
- Net loss attributable to Leju Holdings Limited shareholders was
$21.7 million, or $0.16 loss per diluted ADS, a decrease of 81%
from $115.5 million, or $0.85 loss per diluted ADS for the same period of
2017. Non-GAAP net loss attributable to Leju Holdings Limited
shareholders was $14.7 million, or
$0.11 loss per diluted ADS, a
decrease of 78% from $66.5 million,
or $0.49 loss per diluted ADS for the
same period of 2017.
"Our online advertising and e-commerce businesses both continued
their growth momentum in the second quarter of 2018," said Mr.
Geoffrey He, Leju's Chief Executive
Officer. "We're encouraged by our second quarter performance,
especially the return to profitability as a result of both revenue
growth and effective cost control. Despite continued policy
tightening in China's real estate
market, our strategy will remain focused on deepening penetration
in lower-tier cities, improving operational efficiency and
enhancing our media influence, with the aim to maintain
profitability in the second half of this year."
[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 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.
|
Second Quarter 2018 Results
Total revenues were $122.7
million, an increase of 32% from $92.7 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
$87.6 million, an increase of 37%
from $63.7 million for the same
quarter of 2017, primarily due to an increase in the average price
per discount coupon redeemed, partially offset by a decrease in the
number of discount coupons redeemed.
Revenues from online advertising services were
$34.4 million, an increase of 39%
from $24.8 million for the same
quarter of 2017, primarily due to an increase in property
developers' demand for online advertising.
Revenues from listing services were $0.7 million, a decrease of 82% from $4.2 million for the same quarter of 2017,
primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $18.4
million, a decrease of 4% from $19.2
million for the same quarter of 2017, primarily due to
decreased staff cost as a result of headcount change, partially
offset by increased cost of advertising resources purchased from
media platforms.
Selling, general and administrative expenses were
$94.7 million, a decrease of 20% from
$117.9 million for the same quarter
of 2017, primarily due to decreased staff cost as a result of
headcount change, and decreased marketing expenses related to the
Company's e-commerce business.
Income from operations was $10.0 million, compared to loss from operations
of $83.0 million for the same quarter
of 2017. Non-GAAP income from operations was
$14.3 million, compared to non-GAAP
loss from operations of $37.4 million
for the same quarter of 2017.
Other loss, net was
$5.2 million, compared to
$0.4 million for the same quarter of
2017, primarily due to $4.8 million
foreign exchange loss recognized for the second quarter of
2018.
Net loss was $1.0
million, a decrease of 99% from $87.5
million for the same quarter of 2017. Non-GAAP net
income was $2.4 million,
compared to non-GAAP net loss of $42.5
million for the same quarter of 2017.
Net loss attributable to Leju Holdings Limited
shareholders was $0.9
million, or $0.01 loss per
diluted ADS, a decrease of 99% from $87.3
million, or $0.64 loss per
diluted ADS, for the same quarter of 2017. Non-GAAP net
income attributable to Leju Holdings Limited shareholders
was $2.5 million, or $0.02 per diluted ADS, compared to non-GAAP net
loss attributable to Leju Holdings Limited shareholders of
$42.3 million, or $0.31 loss per diluted ADS, for the same quarter
of 2017.
First Half 2018 Results
Total revenues were $204.2
million, an increase of 27% from $161.0 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
$141.0 million, an increase of 39%
from $101.8 million for the same
period of 2017, primarily due to an increase in the average price
per discount coupon redeemed, partially offset by a decrease in the
number of discount coupons redeemed.
Revenues from online advertising services were
$61.5 million, an increase of 22%
from $50.6 million for the same
period of 2017, primarily due to an increase in property
developers' demand for online advertising.
Revenues from listing services were $1.7 million, a decrease of 81% from $8.6 million for the same period of 2017,
primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $37.1
million, an increase of 11% from $33.3 million for the same period of 2017,
primarily due to increased cost of advertising resources purchased
from media platforms, partially offset by decreased staff costs as
a result of headcount change.
Selling, general and administrative expenses were
$189.9 million, a decrease of 13%
from $218.5 million for the same
period of 2017, primarily due to decreased staff costs as a result
of headcount change, and decreased marketing expenses related to
the Company's e-commerce business.
Loss from operations was $21.5 million, a decrease of 83% from
$129.2 million for the same period of
2017. Non-GAAP loss from operations was $12.8 million, a decrease of 84% from
$79.2 million for the same period of
2017.
Other loss, net was
$2.4 million, compared to
$0.3 million for the same period of
2017, primarily due to $2.0 million
foreign exchange loss recognized for the first half
2018.
Net loss was $22.3
million, a decrease of 81% from $116.2 million for the same period of 2017.
Non-GAAP net loss was $15.2
million, a decrease of 77% from $67.2
million for the same period of 2017.
Net loss attributable to Leju Holdings
Limited shareholders was $21.7
million, or $0.16 loss per
diluted ADS, a decrease of 81% from $115.5
million, or $0.85 loss per
diluted ADS for the same period of 2017. Non-GAAP net loss
attributable to Leju Holdings Limited shareholders was
$14.7 million, or $0.11 loss per diluted ADS, a decrease of 78%
from $66.5 million, or $0.49 loss per diluted ADS for the same period of
2017.
Cash Flow
As of June 30, 2018, the Company's
cash and cash equivalents balance was $174.3 million.
Second quarter 2018 net cash provided by operating
activities was $25.1 million,
primarily comprised of non-GAAP net income of $2.4 million and an increase in advance from
customers and deferred revenue of $22.4
million.
Business Outlook
The Company estimates that its total revenues for the third
quarter of 2018 will be approximately $120
million to $130 million, which
would represent an increase of approximately 26% to 37% from
$95.2 million in the same quarter in
2017. This forecast reflects the Company's current and preliminary
view, which is subject to change.
Conference Call Information
Leju's management will host an earnings conference call on
August 23, 2018 at 7 a.m. U.S. Eastern Time (7 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 August 31,
2018:
U.S./International:
|
+1-855-452-5696
|
Hong Kong:
|
800-963-117
|
Mainland China:
|
400-632-2162
|
Passcode:
|
1686109
|
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 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,
|
|
June
30,
|
|
2017
|
|
2018
|
ASSETS
|
|
|
|
Current
assets
|
|
|
|
Cash and cash
equivalents
|
150,968
|
|
174,318
|
Restricted
cash
|
337
|
|
332
|
Accounts receivable,
net
|
79,196
|
|
81,986
|
Contract
assets
|
1,410
|
|
2,366
|
Marketable
securities
|
3,077
|
|
2,521
|
Prepaid expenses and
other current assets
|
9,945
|
|
8,529
|
Customer
deposits
|
35,823
|
|
9,406
|
Amounts due from
related parties
|
4,077
|
|
3,352
|
Total current
assets
|
284,833
|
|
282,810
|
Property and
equipment, net
|
14,240
|
|
13,690
|
Intangible assets,
net
|
70,631
|
|
63,899
|
Investment in
affiliates
|
146
|
|
94
|
Deferred tax
assets
|
67,084
|
|
66,248
|
Other non-current
assets
|
2,010
|
|
1,608
|
Total
assets
|
438,944
|
|
428,349
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
liabilities
|
|
|
|
Accounts
payable
|
2,950
|
|
1,476
|
Accrued payroll and
welfare expenses
|
37,082
|
|
27,699
|
Income tax
payable
|
63,380
|
|
58,380
|
Other tax
payable
|
11,654
|
|
12,639
|
Amounts due to
related parties
|
3,093
|
|
6,900
|
Advance from
customers and deferred revenue
|
10,565
|
|
34,221
|
Accrued marketing and
advertising expenses
|
18,852
|
|
18,712
|
Other current
liabilities
|
16,315
|
|
14,501
|
Total current
liabilities
|
163,891
|
|
174,528
|
Deferred tax
liabilities
|
18,016
|
|
17,792
|
Total
liabilities
|
181,907
|
|
192,320
|
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 June 30,
2018,
respectively
|
136
|
|
136
|
|
|
|
|
Additional paid-in
capital
|
788,589
|
|
790,650
|
Accumulated
deficit
|
(515,344)
|
|
(537,133)
|
Accumulated other
comprehensive loss
|
(13,078)
|
|
(13,895)
|
Total Leju
Holdings Limited shareholders' equity
|
260,303
|
|
239,758
|
Non-controlling
interests
|
(3,266)
|
|
(3,729)
|
Total
equity
|
257,037
|
|
236,029
|
TOTAL LIABILITIES
AND EQUITY
|
438,944
|
|
428,349
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In thousands of
U.S. dollars, except share data and per share data)
|
|
|
Three months
ended
|
|
Six months
ended
|
|
June
30,
|
|
June
30,
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
E-commerce
|
63,719
|
|
87,571
|
|
101,810
|
|
141,041
|
Online advertising
services
|
24,760
|
|
34,361
|
|
50,553
|
|
61,491
|
Listing services
|
4,210
|
|
744
|
|
8,634
|
|
1,667
|
Total
revenues
|
92,689
|
|
122,676
|
|
160,997
|
|
204,199
|
Cost of
revenues
|
(19,163)
|
|
(18,405)
|
|
(33,293)
|
|
(37,080)
|
Selling, general and
administrative expenses
|
(117,931)
|
|
(94,749)
|
|
(218,452)
|
|
(189,927)
|
Goodwill
impairment
|
(41,223)
|
|
-
|
|
(41,223)
|
|
-
|
Other operating
income
|
2,671
|
|
478
|
|
2,742
|
|
1,308
|
Income (loss) from
operations
|
(82,957)
|
|
10,000
|
|
(129,229)
|
|
(21,500)
|
Interest
income
|
294
|
|
272
|
|
577
|
|
559
|
Other loss,
net
|
(435)
|
|
(5,209)
|
|
(307)
|
|
(2,372)
|
Income (loss)
before taxes and loss from equity
in affiliates
|
(83,098)
|
|
5,063
|
|
(128,959)
|
|
(23,313)
|
Income tax
benefits/(expenses)
|
(4,368)
|
|
(6,024)
|
|
12,925
|
|
1,093
|
Loss before loss
from equity in affiliates
|
(87,466)
|
|
(961)
|
|
(116,034)
|
|
(22,220)
|
Loss from equity in
affiliates
|
(56)
|
|
(32)
|
|
(132)
|
|
(51)
|
Net
loss
|
(87,522)
|
|
(993)
|
|
(116,166)
|
|
(22,271)
|
Less: net loss
attributable to non-controlling
interests
|
(219)
|
|
(109)
|
|
(690)
|
|
(525)
|
Loss attributable
to Leju Holdings Limited
shareholders
|
(87,303)
|
|
(884)
|
|
(115,476)
|
|
(21,746)
|
|
|
|
|
|
|
|
|
Loss per
ADS:
|
|
|
|
|
|
|
|
Basic/
Diluted
|
(0.64)
|
|
(0.01)
|
|
(0.85)
|
|
(0.16)
|
Shares used in
computation of loss per ADS:
|
|
|
|
|
|
|
|
Basic/
Diluted
|
135,763,962
|
|
135,763,962
|
|
135,652,738
|
|
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 = RMB6.6166 on
June 30, 2018
and USD1 = RMB6.4284 for the six months ended June 30,
2018
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
(In thousands of
U.S. dollars)
|
|
|
Three months
ended
|
|
Six months
ended
|
|
June
30,
|
|
June
30,
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
Net
loss
|
(87,522)
|
|
(993)
|
|
(116,166)
|
|
(22,271)
|
Other comprehensive
income (loss), net of tax of nil
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
3,025
|
|
(2,982)
|
|
4,268
|
|
(773)
|
|
|
|
|
|
|
|
|
Comprehensive
loss
|
(84,497)
|
|
(3,975)
|
|
(111,898)
|
|
(23,044)
|
|
|
|
|
|
|
|
|
Less: Comprehensive
income (loss) attributable to
non-controlling interest
|
(251)
|
|
38
|
|
(729)
|
|
(480)
|
|
|
|
|
|
|
|
|
Comprehensive loss
attributable to Leju Holdings
Limited shareholders
|
(84,246)
|
|
(4,013)
|
|
(111,169)
|
|
(22,564)
|
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
|
|
Six months
ended
|
|
June
30,
|
|
June
30,
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
GAAP income (loss)
from operations
|
(82,957)
|
|
10,000
|
|
(129,229)
|
|
(21,500)
|
Share-based
compensation expense
|
976
|
|
1,056
|
|
2,398
|
|
2,035
|
Amortization of
intangible assets resulting from business
acquisitions
|
3,332
|
|
3,205
|
|
6,363
|
|
6,655
|
Goodwill
impairment
|
41,223
|
|
-
|
|
41,223
|
|
-
|
Non-GAAP income
(loss) from operations
|
(37,426)
|
|
14,261
|
|
(79,245)
|
|
(12,810)
|
|
|
|
|
|
|
|
|
GAAP net
loss
|
(87,522)
|
|
(993)
|
|
(116,166)
|
|
(22,271)
|
Share-based
compensation expense (net of tax)
|
976
|
|
1,056
|
|
2,398
|
|
2,035
|
Amortization of
intangible assets resulting from
|
|
|
|
|
|
|
|
business acquisitions (net of tax)
|
2,797
|
|
2,358
|
|
5,367
|
|
4,991
|
Goodwill impairment
(net of tax)
|
41,223
|
|
-
|
|
41,223
|
|
-
|
Non-GAAP net
income (loss)
|
(42,526)
|
|
2,421
|
|
(67,178)
|
|
(15,245)
|
|
|
|
|
|
|
|
|
Net loss
attributable to Leju Holdings Limited
shareholder
|
(87,303)
|
|
(884)
|
|
(115,476)
|
|
(21,746)
|
Share-based
compensation expense
|
|
|
|
|
|
|
|
(net of tax and non-controlling interests)
|
968
|
|
1,048
|
|
2,382
|
|
2,019
|
Amortization of
intangible assets resulting from business
acquisitions (net of tax and non-controlling
interests)
|
2,797
|
|
2,358
|
|
5,367
|
|
4,991
|
Goodwill impairment
(net of tax and non-controlling
interests)
|
41,223
|
|
-
|
|
41,223
|
|
-
|
Non-GAAP net
income (loss) attributable to Leju
Holdings Limited shareholders
|
(42,315)
|
|
2,522
|
|
(66,504)
|
|
(14,736)
|
|
|
|
|
|
|
|
|
GAAP net loss per ADS
- basic/diluted
|
(0.64)
|
|
(0.01)
|
|
(0.85)
|
|
(0.16)
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) per ADS - basic/diluted
|
(0.31)
|
|
0.02
|
|
(0.49)
|
|
(0.11)
|
|
|
|
|
|
|
|
|
Shares used in
calculating basic GAAP/non-GAAP net
income (loss) attributable to shareholders per
ADS
|
135,763,962
|
|
135,763,962
|
|
135,652,738
|
|
135,763,962
|
LEJU HOLDINGS
LIMITED
|
SELECTED OPERATING
DATA
|
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
|
Operating data for
e-commerce services
|
|
|
|
|
|
|
|
|
Number of discount
coupons issued to
prospective purchasers (number of
transactions)
|
|
97,282
|
|
58,252
|
|
140,731
|
|
77,930
|
Number of discount
coupons redeemed (number
of transactions)
|
|
32,670
|
|
20,888
|
|
51,657
|
|
34,687
|
View original
content:http://www.prnewswire.com/news-releases/leju-reports-second-quarter-and-half-year-2018-results-300701500.html
SOURCE Leju Holdings Limited