E-House Launches China's First Real Estate Financial Services Platform
SHANGHAI, July 15, 2014 /PRNewswire-FirstCall/ -- E-House (China) Holdings Limited ("E-House" or the "Company") (NYSE: EJ), a leading real estate services company in China, today announced the launch of China's first real estate financial services platform, "Fang Jin Suo," and its associated website, www.fangjs.com, along with the platform's first two real estate financial products, "E-House e-Loan" and "Leju e-Loan," which are being offered by E-House's real estate brokerage services business unit and its real estate online services subsidiary Leju Holdings Limited (NYSE: LEJU), respectively.
Fang Jin Suo, which translates to "Source of Real Estate Funds" and was co-founded by E-House and SINA Corporation (NASDAQ: SINA) ("SINA"), is a platform that links qualified home buyers with borrowing needs to potential investors. E-House e-Loan and Leju e-Loan are the first two financial products offered to home buyers and individual investors via the platform, and are backed by SINA, E-House, Zhong An Insurance, China's first online insurance firm, and Beijing Sina Payment Technology Co., Ltd. ("SINA Payment"), an online and mobile payment system owned by SINA. Fang Jin Suo is designed to offer investors low-risk products with attractive returns while providing qualified home buyers with additional liquidity to facilitate real estate transactions.
E-House also announced that it has reached an exclusive strategic cooperation agreement with Zhong An Insurance, a company jointly founded by Alibaba Group Holding Ltd., Tencent Holdings Ltd. (HKG: 0700), and Ping An Insurance (Group) Company of China Ltd. (HKG: 2318 and SSE: 601318), among others. Under the agreement, Zhong An Insurance will work with E-House to exclusively provide insurance for real estate loan products through Fang Jin Suo, including principal and interest payment insurance for investors who purchase the E-House e-Loan and Leju e-Loan products.
Xin Zhou, E-House's co-chairman and CEO, said, "Combining E-House's vast home buyer base, SINA's high-end internet users, SINA Payment's secure payment system, and Zhong An's insurance services, Fang Jin Suo aims to become China's leading online real estate financial services platform. We aim to provide investors with safe and transparent fixed-income wealth management products with attractive returns, while at the same time offering qualified borrowers home-purchase related loans and credit services. E-House e-Loan and Leju e-Loan are the first products available through our new platform, which will offer a variety of real estate-related financial products over time."
E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is China's leading real estate services company with a nationwide network covering more than 250 cities. E-House offers a wide range of services to the real estate industry, including online advertising, primary sales agency, secondary brokerage, information and consulting, offline advertising and promotion and real estate investment management services. E-House has received numerous awards for its innovative and high-quality services, including "China's Best Company" from the National Association of Real Estate Brokerage and Appraisal Companies and "China Enterprises with the Best Potential" from Forbes. For more information about E-House, please visit http://www.ehousechina.com.
For investor and media inquiries please contact:
E-House (China) Holdings Limited
Phone: +86 (21) 6133-3937
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-3073
In the United States:
Mr. Justin Knapp
Ogilvy Financial, U.S.
Phone: +1 (616) 551-9714
SOURCE E-House (China) Holdings Limited