|
Summary of Principal Accounting Policies (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Summary of Principal Accounting Policies |
|
| Schedule of ownership interest in foreign owned subsidiaries |
|
Name of Foreign Owned
|
|
Foreign Owned
Subsidiaries’
Economic
Ownership
|
|
|
|
|
|
Subsidiaries
|
|
of VIEs
|
|
Name of VIEs
|
|
Activities of VIEs
|
|
Shanghai Yifang
|
|
100
|
%
|
Shanghai Kushuo
|
|
Operate the real estate offline advertising business
|
|
Shanghai SINA Leju
|
|
100
|
%
|
Beijing Leju
|
|
Operate the online advertising and listing business
|
|
Shanghai Yi Yue
|
|
100
|
%
|
Shanghai Yi Xin
|
|
Operate the e-commerce business
|
|
Beijing Maiteng
|
|
100
|
%
|
Beijing Jiajujiu
|
|
Operate the online home furnishing business
|
|
Shanghai Baoyi
|
|
100
|
%
|
Shanghai E-Cheng
|
|
Operate the real estate fund management business
|
|
Shanghai CRIC
|
|
100
|
%
|
Shanghai Fangjia
|
|
Operate the information and consulting business
|
|
Shanghai Weidian
|
|
100
|
%
|
Shanghai Weihui
|
|
Operate the community value-added business
|
|
| Schedule of financial statement balances included in the consolidated financial statements |
|
|
|
As of December 31,
|
|
|
|
|
2013
|
|
2014
|
|
|
|
|
$
|
|
$
|
|
|
Cash and cash equivalents
|
|
71,095,466
|
|
99,718,317
|
|
|
Accounts receivable, net of allowance for doubtful accounts
|
|
87,835,551
|
|
118,223,577
|
|
|
Other current assets
|
|
29,693,275
|
|
34,132,543
|
|
|
Amounts due from related parties
|
|
—
|
|
424,864
|
|
|
Total current assets
|
|
188,624,292
|
|
252,499,301
|
|
|
Total non-current assets
|
|
49,517,785
|
|
55,033,244
|
|
|
Total assets
|
|
238,142,077
|
|
307,532,545
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
1,505,942
|
|
600,735
|
|
|
Accrued payroll and welfare expenses
|
|
29,309,329
|
|
44,321,824
|
|
|
Income tax payable
|
|
28,793,459
|
|
28,337,431
|
|
|
Other tax payable
|
|
11,188,055
|
|
16,032,365
|
|
|
Amounts due to related parties
|
|
2,383,293
|
|
4,175,247
|
|
|
Advance from customers and deferred revenue
|
|
7,150,344
|
|
5,073,492
|
|
|
Liability for exclusive rights, current
|
|
8,967,972
|
|
—
|
|
|
Other current liabilities
|
|
9,917,349
|
|
36,291,161
|
|
|
Total current liabilities
|
|
99,215,743
|
|
134,832,255
|
|
|
Deferred tax liabilities, non-current
|
|
655,563
|
|
469,579
|
|
|
Total liabilities
|
|
99,871,306
|
|
135,301,834
|
|
|
| Schedule of financial statement amounts included in the consolidated financial statements |
|
|
|
Years Ended December 31,
|
|
|
|
|
2012
|
|
2013
|
|
2014
|
|
|
|
|
$
|
|
$
|
|
$
|
|
|
Total revenues
|
|
172,402,066
|
|
321,004,846
|
|
492,253,803
|
|
|
Cost of revenues
|
|
(54,276,512
|
)
|
(59,920,429
|
)
|
(43,760,890
|
)
|
|
Net income (loss)
|
|
(3,212,138
|
)
|
1,503,897
|
|
(8,699,386
|
)
|
|
Net cash provided by operating activities
|
|
16,020,624
|
|
72,877,862
|
|
55,495,458
|
|
|
Net cash used in investing activities
|
|
(17,544,270
|
)
|
(18,042,241
|
)
|
(17,245,460
|
)
|
|
Net cash provided by (used in) financing activities
|
|
26,686,813
|
|
(40,248,296
|
)
|
(17,043,942
|
)
|
|
| Schedule of accounts receivable |
|
|
|
As of December 31,
|
|
|
|
|
2013
|
|
2014
|
|
|
|
|
$
|
|
$
|
|
|
Unbilled accounts receivable
|
|
268,589,167
|
|
306,282,419
|
|
|
Billed accounts receivable
|
|
88,852,935
|
|
108,867,589
|
|
|
Total
|
|
357,442,102
|
|
415,150,008
|
|
|
| Schedule of expected useful lives of property and equipment |
|
Leasehold improvements
|
|
Over the shorter of the lease term or their estimated useful lives
|
|
Buildings
|
|
30 years
|
|
Furniture, fixtures and equipment
|
|
3 - 5 years
|
|
Motor vehicles
|
|
5 years
|
|
| Schedule of movement of the allowance for doubtful accounts for accounts receivable and customer deposits |
|
|
|
2012
|
|
2013
|
|
2014
|
|
|
|
|
$
|
|
$
|
|
$
|
|
|
Balance as of January 1
|
|
14,811,322
|
|
36,537,817
|
|
60,818,408
|
|
|
Provisions for doubtful accounts
|
|
27,297,288
|
|
29,099,216
|
|
26,363,611
|
|
|
Write offs
|
|
(5,633,500
|
)
|
(6,298,025
|
)
|
(42,404,691
|
)
|
|
Changes due to foreign exchange
|
|
62,707
|
|
1,479,400
|
|
(190,682
|
)
|
|
Balance as of December 31
|
|
36,537,817
|
|
60,818,408
|
|
44,586,646
|
|
|
| Schedule of computation of basic and diluted income per share |
|
|
|
Years Ended December 31,
|
|
|
|
|
2012
|
|
2013
|
|
2014
|
|
|
Net income (loss) attributable to E-House ordinary shareholders — basic
|
|
$
|
(56,971,404
|
)
|
$
|
51,957,425
|
|
$
|
40,001,485
|
|
|
Decrease of income from Leju*
|
|
—
|
|
—
|
|
(2,208,892
|
)
|
|
Interest of Convertible Senior Notes (including stated interest and amortization of discount and issuance costs)
|
|
—
|
|
192,566
|
|
—
|
|
|
Net income (loss) attributable to E-House ordinary shareholders — diluted
|
|
$
|
(56,971,404
|
)
|
$
|
52,149,991
|
|
$
|
37,792,593
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares outstanding— basic
|
|
106,159,388
|
|
130,163,165
|
|
139,211,442
|
|
|
Convertible senior notes
|
|
—
|
|
334,821
|
|
—
|
|
|
Share options and restricted shares
|
|
—
|
|
5,282,011
|
|
7,476,393
|
|
|
Weighted average number of ordinary shares outstanding — diluted
|
|
106,159,388
|
|
135,779,997
|
|
146,687,835
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss) per share
|
|
$
|
(0.54
|
)
|
$
|
0.40
|
|
$
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share
|
|
$
|
(0.54
|
)
|
$
|
0.38
|
|
$
|
0.26
|
|
* In calculating diluted earnings (loss) per share, the amount of Leju’s net income included in net income (loss) attributable to E-House’s ordinary shareholders is calculated by multiplying Leju’s diluted EPS by the weighted average number of Leju shares held by E-House’s during the period, which may result in net income (loss) attributable to E-House ordinary shareholders, for purposes of computing diluted earnings (loss) per share, being different from that actually recorded in the consolidated statements of operations. This difference is presented as increase (decrease) of income (loss) from Leju.
|
| Schedule of instruments not included in the computation of duluted earnings (loss) per share |
|
|
|
Years Ended December 31,
|
|
|
|
|
2012
|
|
2013
|
|
2014
|
|
|
Share options and restricted shares
|
|
14,660,788
|
|
—
|
|
—
|
|
|
Convertible senior notes
|
|
—
|
|
—
|
|
8,959,127
|
|
|
| Effects of changes in E-House's ownership interest in CRIC, Leju and other significantly less than wholly owned subsidiaries on equity attributable to E-House |
|
|
|
Years Ended December 31,
|
|
|
|
|
2012
|
|
2013
|
|
2014
|
|
|
Net income (loss) attributable to E-House
|
|
(56,971,404
|
)
|
51,957,425
|
|
40,001,485
|
|
|
|
|
|
|
|
|
|
|
|
Transfers to the non-controlling interest:
|
|
|
|
|
|
|
|
|
Decrease in E-House’s additional paid-in capital for purchase of 64,642,647 CRIC common shares for the years ended December 31 2012
|
|
(149,461,182
|
)
|
—
|
|
—
|
|
|
Decrease in E-House’s additional paid-in capital for the exercise of CRIC’s options and the vesting of CRIC’s restricted shares
|
|
(332,951
|
)
|
—
|
|
—
|
|
|
Increase in E-House’s equity by partial disposal of subsidiaries
|
|
—
|
|
—
|
|
138,477,580
|
|
|
Increase in E-House’s additional paid-in capital for issuing Leju’s shares to public
|
|
—
|
|
—
|
|
70,068,096
|
|
|
Decrease in E-House’s additional paid-in capital for Leju share distribution to E-House’s shareholders
|
|
—
|
|
—
|
|
(21,569,028
|
)
|
|
Decrease in E-House’s additional paid-in capital for acquisition of non-controlling interest
|
|
—
|
|
—
|
|
(30,720,088
|
)
|
|
Increase in E-House’s additional paid-in capital for the exercise of Leju’s options and the vesting of Leju’s restricted shares
|
|
|
|
|
|
58,340
|
|
|
Net transfers from (to) non-controlling interest
|
|
(149,794,133
|
)
|
—
|
|
156,314,900
|
|
|
|
|
|
|
|
|
|
|
|
Change from net income attributable to E-House and transfers (to) from non-controlling interest
|
|
(206,765,537
|
)
|
51,957,425
|
|
196,316,385
|
|
|