BEIJING, Oct 28, 2015 /PRNewswire/ -- SouFun Holdings
Limited (NYSE: SFUN), ("SouFun", the "Company"), the leading real
estate Internet portal in China,
commented on strengthening its new ecommerce businesses from all
aspects.
Since the beginning of this year, SouFun started its aggressive
transformation from a pure Internet Information Platform to a
3-platform structure including the Internet Information Platform, a
new O2O Transaction Platform, and a new Internet Financial Service
Platform. According to SouFun's Q1 and Q2 statements, the company's
transformation has been quite on track and started to contribute
substantially to the company's revenue growth.
Based on its O2O Transaction Platform across new home, resale,
and rental markets as well as home furnishing business lines,
SouFun has been providing new products and services directly to end
consumers. To achieve high satisfaction from end consumers, the
company has been implementing strict internal control over
transactions. Employees of transaction businesses are not only
required to be efficient with a good performance, they also need to
keep honesty and integrities in dealing with end consumers. The
company implements a "zero tolerance" policy with respect to
employee integrity and ethics.
Removing and firing those employees who did not behave
accordingly has been in place since the beginning of this year.
This is a monthly human resource evaluation practice in the
company's new O2O transaction businesses. The company has been
working closely with local government authorities to smooth out
those removed employees who were not performing or did not behave
according to the company regulations on integrity and ethics. We
believe this is also in line with SEC and NYSE rules regarding
business integrity and ethics. It will not only safeguard the
interests of consumers, but also pave the way for the healthy
development of the company's new businesses. We believe that this
will be in the best interest of our consumers, partners and
investors.
The company will continue its requirement of performance as well
as integrity and ethics from all of its employees, especially in
its new O2O transaction businesses. We believe that an outstanding
staff force with performance and integrity and ethics is the
guarantee of the company's successful transformation. At the same
time, the company will continue to hire at large to expand
aggressively into more markets in China and improve its staff force on the
way.
SouFun welcomes all kinds of opinions and comments with respect
to its business and corporate governance. We regard these opinions
and comments as useful to improve our future operations. We are
confident that strengthening SouFun's new ecommerce businesses from
all aspects will make SouFun transformation more successful and
durable.
About SouFun
SouFun operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through our websites, we
provide marketing, e-commerce, listing and other value-added
services for China's fast-growing
real estate and home furnishing and improvement sectors. Our
user-friendly websites support active online communities and
networks of users seeking information on, and other value-added
services for, the real estate and home furnishing and improvement
sectors in China. SouFun currently
maintains about 100 offices to focus on local market needs and its
website and database contains real estate related content covering
more than 320 cities in China. For
more information about SouFun, please visit
http://ir.soufun.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions. Such forward-looking statements include, without
limitation, statements regarding the ongoing transformation from a
pure Internet information platform to a transaction-oriented
platform and the continued growth of the e-commerce businesses.
Statements that are not historical facts, including statements
about SouFun's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, without limitation, the impact of the transformation from
a pure Internet information platform to a transaction-oriented
platform, the impact of implementing a "zero tolerance policy" that
has resulted in dismissal of employees, the impact of the slowdown
in the PRC real estate market on SouFun and the impact on revenues
of our existing and new service fees reductions, the ability of
SouFun to retain real estate listing agencies as customers during
challenging economic periods, the success of SouFun's new business
initiatives, the ability of SouFun to manage its operating
expenses, the impact of, measures taken or to be taken by the
Chinese government to control real estate growth and prices and
other events which could occur in the future, economic challenges
in China's real estate market, the
impact of competitive market conditions for our services, our
ability to maintain and increase our leadership in China's home related internet sector, the
uncertain regulatory landscape in China, fluctuations in our quarterly operating
results, our continued ability to execute business strategies
including our SouFun membership services and SouFun Online Shop,
our ability to continue to expand in local markets, our reliance on
online advertising sales and listing services and transactions for
our revenues, any failure to successfully develop and expand our
content, service offerings and features, including the success of
new features to meet evolving market needs, and the technologies
that support them, the quality of the loans we originate and resell
and the performance of those loans in the future, our ability to
successfully service and process customer loans for our own benefit
and for the purchasers of those loans and, should we in the future
make acquisitions, any failure to successfully integrate acquired
businesses.
For investor and media inquiries, please contact:
Dr. Hua Lei
Deputy CFO
Phone: +86-10-5631-8661
Email: leihua@soufun.com
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SOURCE SouFun Holdings Limited