22. Related Party Balances and Transactions

 

Amounts due from related parties are comprised of the following:

 

 

Amounts due to related parties are comprised of the following:

 

 

(a) Customer and supplier

 

Transactions with customers and suppliers who are related parties are as follows:

 

Revenue recognized by the Group:

 

 

Selling, general and administrative expenses recorded by the Group:

 

 

Cost of revenue recorded by the Group:

 

 

Intangible assets purchased by the Group:

 

 

Amount due from (to) customers and suppliers who are related parties are as follows:

 

Amount due from (to) related parties

 

 

CRERAT is a joint venture formed by the Group with China Real Estate Research Association and China Real Estate Association, with the Group owning 51% equity interest of the entity.

 

Mr. Charles Chao, SINA’s chairman and chief executive officer, has served as a co-chairman of the Company’s board of directors after the Merger on April 2012 (related party since April, 2012), and SINA has been a major shareholder of the Company since then.

 

Guanfu Treasure-house, an entity controlled by Mr. Xinzhou, co-chairman and chief executive officer of the Group, controls Guanfu Treasure-house. The amount due to Guanfu Treasure-house represents payables for the services provided by the entity.

 

The group acquired 21% equity interest of Hangzhou Kuyue in 2014, and the group can exercise significant influence over the entity.

 

(b) Affiliates

 

Amounts due from (to) affiliates are comprised as the following:

 

 

Notes:

 

 

 

 

 

 

(c) Management

 

The amount due to management represents consideration paid by management for unvested restricted shares under Leju Plan.

 

On March 25, 2013, E-House (China) Holdings Limited issued an aggregate of 17,790,125 ordinary shares of the Company to Kanrich Holdings Limited (“Kanrich”), a British Virgin Islands company owned by certain key members of the Company’s management, including Mr. Xin Zhou, co-chairman of the Company’s board of directors and chief executive officer, for an aggregate purchase price of $62,621,240.

 

(d) Real Estate Investment Fund Management

 

Management fees or carried interest from funds are comprised of the following:

 

 

The amount presented in the table is the revenue without net of sales tax.

 

Notes:

 

 

In January 2010, the Group formed a limited partnership, Shengyuan Center in Shanghai, for the purpose of making equity investments in areas deemed suitable by the general partner. The Group’s 51% owned subsidiary, Shanghai Yidezeng Equity Investment Center, acts as Shengyuan Center’s general partner. The general partner receives annual management fees and carried interest on a success basis. The Group invested $10,065,348 (RMB65,000,000) into the Shengyuan Center for a 13% equity interest. Mr. Xin Zhou, the Company’s co-chairman and chief executive officer, owns an 8% equity interest in the Shengyuan Center and is a limited partner. In 2013 and 2014, the Group received $461,463 (RMB2,813,487) and $1,781,581 (RMB10,881,747 ) capital return from Shengyuan Center, respectively.

 

In April 2010, the Group formed Shengquan Center, which seeks to invest in China’s real estate sector through diversified investment strategies at all levels of the real estate value chain. The Group’s 51% owned subsidiary, Shanghai Yidexin Equity Investment Center, acts as Shengquan Center’s general partner. The general partner receives annual management fee and carried interest on a success basis. Mr. Xin Zhou, the Company’s co-chairman and chief executive officer, holds a 2.4% equity interest in the Shengquan Center.