E-House Launches E-Commerce 4.0 Platform to Integrate Real Estate E-Commerce with Financial Services
SHANGHAI, Nov. 4, 2013 /PRNewswire-FirstCall/ -- E-House (China) Holdings Limited ("E-House" or the "Company") (NYSE: EJ), a leading real estate services company in China, today announced that it is launching version 4.0 of its Leju real estate e-commerce platform designed to enable the integration of real estate e-commerce with financial services. As part of the new platform, E-House expects to form a strategic cooperation with CITIC Bank Corporation Limited ("CITIC"), pursuant to which CITIC and the Company will jointly introduce Leju Loan, an innovative financial product that aims to provide added liquidity and improve the overall purchasing power of home buyers. Qualified home buyers who purchase real estate through the Leju real estate e-commerce platform can obtain a line of credit from CITIC by pledging their existing properties as collateral. The line of credit can be used to satisfy a variety of consumption needs such as home improvement, vehicle purchases and vacations. The Company expects to have a formal signing ceremony for the cooperation in the near future.
Mr. Xin Zhou, co-chairman and CEO of E-House said, "As a leader in the real estate services industry, E-House is committed to continuous innovation. In the past three years, we have made significant progress in developing Leju's real estate e-commerce business, from the event-driven version 1.0, linking a developer's advertising spending with sales performance, to version 2.0, establishing our online-to-offline process to expand distribution channels for real estate projects, and to version 3.0, separating the use of our e-commerce platform from value-added services and empowering developers to formulate their own marketing strategy. We believe our real estate e-commerce platform has been well received by home buyers as well as developers nationwide, delivering impressive growth and demonstrating strong vitality."
Mr. Zhou continued, "As the real estate e-commerce sector continues to evolve, integrating financial services with e-commerce has become a major need in the market. Version 4.0 of Leju's e-commerce platform effectively combines these two core components, helping to provide an additional source of financing for consumers, while increasing sales conversion rates and achieving better sales for developers. We believe version 4.0 represents another breakthrough in real estate marketing in China and will elevate the fledgling real estate e-commerce sector to a new level."
E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is China's leading real estate services company with a nationwide network covering approximately 250 cities. E-House offers a wide range of services to the real estate industry, including online advertising and e-commerce, 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.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "intend," "confident," "is currently reviewing," "it is possible," "subject to" and similar statements. Among other things, the quotations from management in this press release, as well as E-House's strategic and operational plans, contain forward-looking statements. E-House may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, including Forms 20-F and 6-K, 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 E-House's beliefs and expectations, are forward-looking statements and are subject to change. Forward-looking statements 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 in this press release. Potential risks and uncertainties include, but are not limited to, a severe or prolonged downturn in the global economy, E-House's susceptibility to fluctuations in the real estate market of China, government measures aimed at China's real estate industry, failure of the real estate services industry in China to develop or mature as quickly as expected, diminution of the value of E-House's brand or image, E-House's inability to successfully execute its strategy of expanding into new geographical markets in China, E-House's failure to manage its growth effectively and efficiently, E-House's failure to successfully execute the business plans for its strategic alliances and other new business initiatives, E-House's loss of its competitive advantage if it fails to maintain and improve its proprietary CRIC system or to prevent disruptions or failure in the system's performance, E-House's failure to compete successfully, fluctuations in E-House's results of operations and cash flows, E-House's reliance on a concentrated number of real estate developers, natural disasters or outbreaks of health epidemics and other risks outlined in E-House's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of this press release, and E-House does not undertake any obligation to update any such information, except as required under applicable law.
For investor and media inquiries please contact:
Director of Investor Relations
E-House (China) Holdings Limited
Phone: +86 (21) 6133-0754
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
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