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China Index Holdings Limited (NASDAQ: CIH) announced the completion of its merger with CIH Merger Sub Holdings Limited, making CIH a wholly-owned subsidiary of CIH Holdings Limited. Under the merger agreement, shareholders will receive $1.00 in cash per American Depository Share (ADS) and per ordinary share, excluding certain shares. This transaction leads to the cancellation of the company's ADSs, which will no longer trade on NASDAQ. Following the merger, CIH has requested the delisting of its ADSs and plans to file a Form 15 with the SEC to deregister its shares and suspend reporting obligations. CIH operates a prominent real estate information and analytics platform in China, servicing various real estate stakeholders with extensive data and analytical tools.
China Index Holdings Limited (NASDAQ: CIH) has set March 2, 2023, as the record date for distributing the Rule 13e-3 Transaction Statement related to its planned "going private" transaction. This follows the Merger Agreement made with CIH Holdings Limited on December 22, 2022. Record holders of Class A and Class B ordinary shares, including ADS holders, will receive the Schedule 13E-3 and other related documents. The merger is anticipated to close in March 2023, after which CIH will become a privately held company, and its ADSs will no longer be listed on Nasdaq.
China Index Holdings Limited (NASDAQ: CIH) has announced a merger agreement with CIH Holdings Limited and CIH Merger Sub Holdings Limited. The merger values CIH at approximately US$92.0 million, with shareholders receiving US$1.0 per American depository share (ADS). This represents a premium of about 42.9% over the last trading day's closing price prior to the merger proposal. The merger is expected to close in Q1 2023, resulting in CIH becoming a privately held company, with its ADSs delisted from NASDAQ.
On November 30, 2022, China Index Holdings Limited (NASDAQ: CIH) announced the approval of its transfer from the Nasdaq Global Select Market to the Nasdaq Capital Market, effective at market open. This move follows a notification received on May 31, 2022, regarding non-compliance with the bid price requirement. CIH now has until May 30, 2023, to meet the minimum bid price of US$1.00 per ADS for ten consecutive business days. The company is actively monitoring this requirement and may consider a reverse stock split to regain compliance.
China Index Holdings Limited (NASDAQ: CIH) reported its third quarter financial results for 2022, revealing total revenues of RMB97.7 million, a 39.3% decline from RMB160.8 million in the same quarter of 2021. Operating income decreased by 60.4% to RMB30.9 million, while net income fell by 62.1% to RMB27.6 million.
The company attributed the revenue drop to challenging macroeconomic conditions. Management anticipates a double-digit year-over-year revenue decrease for 2022 due to market instability.
China Index Holdings Limited (NASDAQ: CIH) will release its unaudited financial results for Q3 ended September 30, 2022, on November 15, 2022, before U.S. market opening. The company is a key player in the real estate information and analytics sector in China, providing extensive data and analytical services to real estate developers, brokers, and financial institutions. CIH focuses on delivering comprehensive, reliable, and timely real estate data supported by advanced analytical tools.
On October 13, 2022, China Index Holdings Limited (NASDAQ: CIH) announced a revised preliminary non-binding proposal from a consortium led by Fang Holdings Limited. This proposal seeks to acquire all outstanding Class A and Class B ordinary shares for US$0.84 per share in a going-private transaction. The consortium currently holds approximately 61% of Class A shares and nearly 100% of Class B shares, representing around 91.4% of total voting power. The Special Committee has engaged Roth Capital Partners as an independent financial advisor to evaluate the proposal.
China Index Holdings Limited (NASDAQ: CIH) has formed a Special Committee to evaluate a non-binding acquisition proposal from Fang Holdings Limited, aimed at acquiring all outstanding shares not owned by Fang. The Committee comprises independent directors Jianping Ye and Jason Chenyang Wei and has engaged legal counsel for assistance. CIH cautions that no decisions have been made regarding the proposal, and there is no guarantee that a definitive agreement will be reached. The company remains committed to keeping shareholders informed as required by law.
China Index Holdings Limited (NASDAQ: CIH) announced a preliminary proposal from Fang Holdings Limited to acquire all outstanding Class A and Class B shares in a going-private transaction. The offer price is US$0.84 per share, reflecting a 20.0% premium over the August 22 closing price and 22.8% over the 30-day volume-weighted average price. Fang currently owns about 10.1% of Class A shares and 47.0% of Class B shares. The board will form a special committee to evaluate the proposal, with no assurance of the transaction's completion.
China Index Holdings Limited (NASDAQ: CIH) announced its second quarter 2022 results, revealing total revenues of RMB110.2 million, down 27.8% year-over-year. Operating income decreased by 37.6% to RMB45.0 million, while net income plummeted 68.6% to RMB21.2 million. For the first half of 2022, revenues totaled RMB228.7 million, a decline of 20.1%. The company anticipates a double-digit revenue decrease for the full year due to ongoing macroeconomic challenges. Cost-saving measures have been implemented; however, income tax expenses surged by 152.4%.
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