- China Index Holdings Limited (NASDAQ:CIH) reported a first-quarter FY22 revenue decline of 11.4% year-on-year to RMB118.5 million, primarily due to the broad macro-environment challenges.
- Information and analytics services (SaaS) revenues were RMB56.6 million, down 11.2% Y/Y.
- Revenues from marketplace services were RMB61.9 million, down 11.6% Y/Y.
- Operating income was RMB45.3 million, down 25.5% Y/Y.
- Outlook: China Index sees 2022 revenue to decrease 10% Y/Y.
- Board Transition: Jeff Xuesong Leng and Jill Jie Jiao resigned from the Board for personal reasons, effective May 20.
- Jason Chenyang Wei and Jianping Ye were elected as independent directors, effective May 20.
- Price Action: CIH shares traded higher by 2.87% at $0.70 on the last check Friday.
