omniture

CRIC Reports Second Quarter and First-Half 2010 Results


Revenues Grew 96% Year-Over-Year to $37.4 million;

Non-GAAP Net Income Grew 89% Year-Over-Year to $15.9 million, or $0.11 per diluted ADS

SHANGHAI, Aug. 11 /PRNewswire-Asia-FirstCall/ -- China Real Estate Information Corporation ("CRIC" or the "Company") (Nasdaq: CRIC), a leading provider of real estate information, consulting and online services in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2010.

In October 2009, the Company completed its initial public offering ("IPO") and acquisition of SINA Corporation's (NASDAQ: SINA) 66% equity interest in China Online Housing Technology Corporation ("COHT"), an entity that had operated SINA's online real estate business. To assist management and investors in gaining a better understanding of CRIC's operating performance for the second quarter ended June 30, 2010, the Company is providing results attributable to COHT whenever possible. In addition to the disclosure of GAAP results below, the Company is also presenting certain non-GAAP measures (namely, income from operations and net income attributable to CRIC shareholders). For non-GAAP income from operations ("non-GAAP income from operations") and non-GAAP net income attributable to CRIC shareholders

("non-GAAP net income attributable to CRIC shareholders"), expenses relating to share-based compensation and amortization of intangible assets resulting from business acquisitions are excluded. See "About Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Results" below for more information about the non-GAAP financial measures included in this press release.

Second Quarter 2010 Highlights

-- Total revenues were $37.4 million for the second quarter of 2010, an

increase of 96% from $19.0 million for the same quarter in 2009. The

total revenues for the second quarter of 2010 included $14.3 million

attributable to COHT. The remainder was $23.1 million, an increase of

21% from $19.0 million for the same quarter in 2009.

-- Net income attributable to CRIC shareholders was $7.5 million, or $0.05

per diluted ADS, for the second quarter of 2010, an increase of 2% from

$7.4 million, or $0.10 per diluted ADS, for the same quarter of 2009.

Non-GAAP net income attributable to CRIC shareholders was $15.9 million,

or $0.11 per diluted ADS, for the second quarter of 2010, an increase

of 89% from $8.4 million, or $0.12 per diluted ADS, for the same

quarter in 2009. Non-GAAP net income attributable to CRIC shareholders

for the second quarter of 2010 included $2.0 million attributable to

COHT. The remainder was $13.9 million, an increase of 65% from $8.4

million for the same quarter in 2009.

First Half 2010 Highlights

-- Total revenues were $64.5 million for the first half of 2010, an

increase of 107% from $31.2 million for the first half of 2009. Total

revenues for the first half of 2010 included $22.6 million attributable

to COHT. The remainder was $41.9 million, an increase of 34% from $31.2

million for the first half of 2009.

-- Net income attributable to CRIC shareholders was $9.4 million, or $0.06

per diluted ADS, for the first half of 2010, a decrease of 14% from

$11.0 million, or $0.15 per diluted ADS, for the first half of 2009.

Non-GAAP net income attributable to CRIC shareholders was $26.2 million,

or $0.18 per diluted ADS, for the first half of 2010, an increase of

100% from $13.1 million, or $0.18 per diluted ADS, for the first half

of 2009. Non-GAAP net income attributable to CRIC shareholders for the

first half of 2010 included $3.3 million attributable to COHT. The

remainder was $22.9 million, an increase of 75% from $13.1 million for

the first half of 2009.

"CRIC took advantage of the volatilities in the real estate market in the second quarter and demonstrated the value of our real estate information, consulting and advertising products in the face of market uncertainties," said Mr. Xin Zhou, CRIC's co-chairman and chief executive officer. "As a result, even though the overall real estate market experienced a sharp decline in transaction volumes following the government's policies announced in April, all of our business lines experienced strong growth in the second quarter. We have attracted more subscribers to our database and more clients who have begun using our daily, weekly and monthly up-to-date real estate market reports. Our consulting services continue to grow steadily as we help our clients navigate through market uncertainties, and our online platforms are one of the top choices for our clients to advertise their properties, products and services."

Mr. Zhou continued, "In addition to our solid performance amidst market volatilities, CRIC has laid down the strategic framework this year to prepare us for future growth. On top of the new business initiatives that we announced previously to expand the scope of our products and services, in the second quarter, we announced our strategic agreement with Baidu. The Baidu new home channel was officially launched on August 8, and will be followed by the launch of the Baidu secondary housing channel later this month. The initial feedback from developers has been extremely positive. On day one, the Baidu new home channel already covered 100 cities in China with over 10,000 new home projects. It is the first purely search-based real estate channel in China that serves the needs of hundreds of millions of consumers who use Baidu's search engine, as well as the needs of real estate industry companies, who can now more accurately and effectively target potential customers."

Ms. Bin Laurence, CRIC's chief financial officer, commented, "CRIC's second quarter performance demonstrates our ability to deliver strong results in the face of a market downturn, which is supported by our differentiated revenue models and our solid execution. Although we expect that our operating margins will be under pressure in the second half of this year versus last year due to additional expenditures related to our new business initiatives, particularly the launch of our Baidu channels this year, from the momentum we've seen so far for these new businesses, we expect to see gradual margin improvement next year."

Financial Results for the Second Quarter and First Half of 2010

Revenues

Second quarter total revenues were $37.4 million in 2010, an increase of 96% from $19.0 million for the same quarter of 2009. Total revenues for the second quarter of 2010 included $14.3 million attributable to COHT. The remainder was $23.1 million, an increase of 21% from $19.0 million for the same quarter in 2009.

For the first half of 2010, total revenues were $64.5 million, an increase of 107% from $31.2 million for the first half of 2009. Total revenues for the first half of 2010 included $22.6 million attributable to COHT. The remainder was $41.9 million, an increase of 34% from $31.2 million for the first half of 2009.

Revenues from real estate information and consulting services were $18.2 million for the second quarter of 2010, an increase of 18% from $15.4 million for the same quarter of 2009. For the first half of 2010, revenues from real estate information and consulting services were $35.6 million, an increase of 35% from $26.3 million for the first half of 2009. The increases were primarily due to an increased number of subscribers to the CRIC database, more demand for the Company's customized real estate reports and increased number of consulting projects in the first half of 2010.

Revenues from COHT were $14.3 million for the second quarter of 2010. For the first half of 2010, revenue from COHT was $22.6 million. The Company completed its acquisition of COHT in October 2009 and started reporting COHT's business as a new line of business in the fourth quarter of 2009.

Other revenues were $4.9 million for the second quarter of 2010, an increase of 33% from $3.6 million for the same quarter of 2009. For the first half of 2010, other revenues were $6.4 million, an increase of 32% from $4.9 million for the first half of 2009. Other revenues mainly consisted of offline advertising services and real estate promotional event services.

Cost of Revenues

Second quarter cost of revenues was $9.6 million in 2010, a substantial increase from $2.1 million for the same quarter in 2009. Second quarter cost of revenue in 2010 included $5.9 million attributable to COHT. The remainder was $3.7 million, an increase of $1.6 million, or 80%, primarily due to additional cost incurred for the CRIC database as the Company's CRIC system underwent more intensive modification and updating in the second quarter of 2010. Cost of revenues attributable to COHT of $5.9 million includes $2.9 million amortization of intangible assets as well as other costs associated with the maintenance of websites, which included fees paid to third parties for Internet connection, content and services, personnel-related costs, depreciation of equipment and fees paid to SINA for advertising inventory on non-real estate channels.

For the first half of 2010, cost of revenues was $15.6 million, an increase of 361% from $3.4 million for the first half of 2009. The cost of revenue for the first half of 2010 included $10.8 million attributable to COHT. The remainder was $4.8 million, an increase of 42% from $3.4 million in the first half of 2009 due to business expansion.

Selling, General and Administrative ("SG&A") Expenses

Second quarter SG&A expenses were $25.4 million in 2010, an increase of 189% from $8.8 million for the same quarter in 2009. Second quarter SG&A expenses in 2010 included $13.3 million attributable to COHT. The remainder was $12.1 million, an increase of 38% from $8.8 million for the same quarter in 2009, primarily due to higher expenses of $1.8 million relating to

share-based compensation recorded in the second quarter of 2010 compared to $1.0 million for the same period in 2009, and higher salaries, travel and other office expenses associated with increased business scope and geographic expansion. SG&A expenses attributable to COHT of $13.3 million primarily included $5.0 million intangible amortization expenses, $2.2 million non-cash share-based compensation expenses, and other personnel and administrative expenses.

For the first half of 2010, SG&A expenses were $45.9 million, an increase of 194% from $15.6 million for the first half of 2009. SG&A expenses for the first half of 2010 include $22.3 million attributable to COHT. The remainder was $23.6 million, an increase of 51% from $15.6 million for the first half of 2009, mainly due to higher share-based compensation expenses, higher salaries, travel and other office expenses. SG&A expenses attributable to COHT of $22.3 million primarily included $10.0 million intangible amortization expenses, $4.3 million non-cash share-based compensation expenses, and other personnel and administrative expenses.

Income from Operations

Second quarter income from operations was $2.4 million in 2010, a decrease of 71% from $8.2 million for the same quarter in 2009. Second quarter income from operations included $4.8 million loss from operations attributable to COHT. Non-GAAP income from operations for the second quarter of 2010 was $11.4 million, an increase of 24% from $9.3 million for the same quarter in 2009. Non-GAAP income from operations for the second quarter of 2010 included $2.4 million attributable to COHT. The remainder was $9.0 million, relatively flat compared with $9.3 million for the second quarter of 2009.

For the first half of 2010, income from operations was $3.0 million, a decrease of 75% from $12.2 million for the first half of 2009. First-half income from operations included a $10.5 million loss from operations attributable to COHT. Non-GAAP income from operations for the first half of 2010 was $21.1 million, an increase of 47% from $14.3 million for the first half of 2009. Non-GAAP income from operations for the first half of 2010 included $3.8 million attributable to COHT. The remainder was $17.3 million, an increase of 21% from $14.3 million for the first half of 2009.

Other Income

Second quarter other income of $1.1 million was primarily comprised of income from sales of property held for sales and cash subsidies received by the Company's subsidiaries from local governments as incentives for investing in certain local districts.

Income Tax Expenses / (Benefit)

One of the Company's primary subsidiaries that engages in real estate information and consulting services was previously approved as a high and new technology enterprise under the PRC tax law and was therefore subject to a 15% preferential income tax rate for the years from 2008 through 2010. In May 2010, it was granted a software enterprise status and was deemed qualified to be exempted from income taxes for 2009, followed by a 50% reduction in income tax rate from 2010 through 2012. The effective tax rate in 2010 was adjusted accordingly. Tax refund of $4.2 million relating to 2009 was recognized as an income tax benefit when received by such subsidiary in the second quarter of 2010.

Net Income Attributable to CRIC Shareholders

Second quarter net income attributable to CRIC shareholders was $7.5 million in 2010, an increase of 2% from $7.4 million for the same quarter of 2009. Second quarter net income attributable to CRIC shareholders included a $4.5 million loss attributable to COHT. The remainder was $12.0 million, an increase of 63% from $7.4 million for the same quarter of 2009.

Second quarter non-GAAP net income attributable to CRIC shareholders was $15.9 million, an increase of 89% from $8.4 million for the same quarter of 2009. Second quarter non-GAAP net income attributable to CRIC shareholders included $2.0 million attributable to COHT. The remainder was $13.9 million, an increase of 65% from $8.4 million for the same quarter of 2009.

For the first half of 2010, net income attributable to CRIC shareholders was $9.4 million, a decrease of 14% from $11.0 million for the first half of 2009. Net income attributable to CRIC shareholders for the first half of 2010 included a $9.8 million loss attributable to COHT. The remainder was $19.2 million, an increase of 75% from $11.0 million for the first half of 2009.

For the first half of 2010, non-GAAP net income attributable to CRIC shareholders was $26.2 million, an increase of 100% from $13.1 million for the same period in 2009. First-half non-GAAP net income attributable to CRIC shareholders included $3.3 million attributable to COHT. The remainder was $22.9 million, an increase of 75% from $13.1 million for the first half of 2009.

Cash Flow

As of June 30, 2010, the Company had a cash balance of $272.1 million. Second quarter net cash inflow from operating activities was $4.8 million, mainly due to non-GAAP net income of $15.9 million and an increase in accrued payroll and welfare expenses of $4.1 million, partially offset by an increase in accounts receivable, prepaid expenses and other receivables totaling $15.9 million. Second quarter net cash outflow from investing activities was $36.1 million, mainly due to a short-term inter-company advance of approximately $38.4 million to E-House (China) Holdings Limited, the Company's parent company, which was subsequently repaid in July 2010.

Business Outlook

The Company estimates that its revenues for the third quarter of 2010 will be in the range of $44 million to $46 million, an increase of approximately 90% to 99% over the same quarter of 2009. The revenue estimate includes estimated revenues from COHT of $16 million to $17 million. Third quarter revenues excluding those to be generated by COHT are estimated to be in the range of $28 million to $29 million, an increase of 21% to 25% over the same quarter of 2009. This forecast reflects the Company's current and preliminary view, which is subject to change.

Conference Call Information

CRIC's management will host an earnings conference call on August 11, 2010 at 7 a.m. U.S. Eastern Time (7p.m. Beijing/Hong Kong time).

Dial-in details for the earnings conference call are as follows:

US/International: +1-718-354-1157

Hong Kong: +852-3002-1616

Mainland China: 86-10-5904-4827

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "CRIC"

A live and archived webcast of the conference call will be available at http://ir.cric.com/ .

About CRIC

China Real Estate Information Corporation ("CRIC") (NASDAQ: CRIC) is a leading provider of real estate information, consulting and online services with a presence in over 100 cities across China. CRIC, a subsidiary of E-House (China) Holdings Limited (NYSE: EJ), merged with the online real estate business of SINA Corporation (NASDAQ: SINA) upon the completion of CRIC's initial public offering and listing of its ADSs on the NASDAQ Global Select Market in October 2009. Leveraging its proprietary, advanced and comprehensive real estate information database and analysis system, CRIC provides a broad range of real estate-related services to all participants in the real estate value chain, including developers, suppliers, agents, brokers, service providers and individual consumers. CRIC's services include subscription-based information services, customized consulting services and online services through several real estate websites that provide region-specific real estate information and access to online communities. For more information about CRIC, please visit http://www.cric.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 "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Among other things, the Business Outlook section and quotations from management in this press release, as well as CRIC's strategic and operational plans, contain forward-looking statements. CRIC may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, 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 CRIC's beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on the Company's financial condition and results of operations for one or more periods. 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, CRIC'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 CRIC's brand or image, CRIC's inability to successfully execute its strategy of expanding into new geographical markets in China, CRIC's failure to manage its growth effectively and efficiently, CRIC's failure to successfully execute the business plans for its strategic alliances and other new business initiatives, CRIC'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, CRIC's failure to compete successfully, fluctuations in CRIC's results of operations and cash flows, CRIC's reliance on a concentrated number of real estate developers, natural disasters and outbreaks of health epidemics and other risks outlined in CRIC'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 CRIC does not undertake any obligation to update any such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement CRIC's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), CRIC uses the following non-GAAP financial measures: (1) net income attributable to CRIC shareholders (2) net income attributable to CRIC shareholders per diluted ADS and (3) income from operations, each of which excludes expenses relating to share-based compensation and amortization of intangible assets resulting from business acquisitions. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliation of GAAP and non-GAAP Results" set forth at the end of this press release.

CRIC believes that these non-GAAP financial measures provide meaningful supplemental information regarding its operating performance by excluding expenses relating to share-based compensation and amortization of intangible assets resulting from business acquisitions that may not be indicative of its operating performance. CRIC believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its operating performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to CRIC's historical performance. CRIC computes its non-GAAP financial measures using the same consistent method from quarter to quarter. CRIC believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP financial measures excluding expenses relating to share-based compensation and amortization of intangible assets resulting from business acquisitions is that these expenses charges have been and will continue to be significant recurring expenses in CRIC's business for the foreseeable future. Management compensates for these limitations by providing specific information regarding the GAAP amount excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures.

For investor and media inquiries please contact:

In China

Penny Pan

Manager, Investor Relations

China Real Estate Information Corporation

Phone: +86-21-6086-8111

Email: ir@cric.com

Derek Mitchell

Ogilvy Financial, Beijing

Phone: +86-10-8520-6284

Email: derek.mitchell@ogilvy.com

In the U.S.

Jessica Barist Cohen

Ogilvy Financial, New York

Phone: +1-646-460-9989

Email: jessica.cohen@ogilvypr.com

CHINA REAL ESTATE INFORMATION CORPORATION

UNAUDITED CONSOLIDATED BALANCE SHEET

(In thousands of U.S. dollars)

December 31, June 30,

2009 2010

ASSETS

Current assets

Cash and cash equivalents 311,067 272,107

Unbilled accounts receivable, net 22,739 33,813

Accounts receivable, net 5,691 5,549

Properties held for sale -- 5,529

Advance payment for advertising placement 1,401 983

Advance payment for properties 8,108 --

Prepaid expenses 1,283 11,698

Other receivables and current assets 4,305 15,332

Amounts due from related parties 2,461 44,898

Total current assets 357,055 389,909

Property and equipment, net 7,423 9,035

Intangible assets, net 201,139 193,183

Goodwill 449,903 450,270

Other non-current assets 4,571 5,067

TOTAL ASSETS 1,020,091 1,047,464

LIABILITES AND EQUITY

Current liabilities

Accounts payable 2,289 1,774

Advance from customer 2,855 6,196

Accrued payroll and welfare expenses 3,873 6,595

Income tax payable 9,270 8,471

Other tax payable 3,085 2,633

Amounts due to related parties 7,301 8,170

Deposit for property for sale 2,781 2,166

Other current liabilities 4,184 6,437

Total current liabilities 35,638 42,442

Deferred tax liabilities-non-current 42,032 42,622

Total liabilities 77,670 85,064

Commitments and contingencies

Equity

Ordinary shares ($0.0002 par value):

250,000,000 shares authorized,

142,922,222 and 143,387,784

shares issued and outstanding, as of

December 31, 2009 and June 30, 2010,

respectively 29 29

Additional paid-in capital 863,169 872,670

Subscription receivable -- (585)

Retained earnings 74,386 82,877

Accumulated other comprehensive income 3,629 4,512

Total CRIC shareholders' equity 941,213 959,503

Non-controlling interests 1,208 2,897

Total equity 942,421 962,400

TOTAL LIABILITIES AND EQUITY 1,020,091 1,047,464

CHINA REAL ESTATE INFORMATION CORPORATION

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of U.S. dollars, except share data and per share data)

Three months ended Six months ended

June 30, June 30,

2009 2010 2009 2010

Revenues

Real estate information

and consulting services 15,383 18,184 26,340 35,555

Online services -- 14,333 -- 22,579

Others 3,650 4,853 4,860 6,406

19,033 37,370 31,200 64,540

Cost of revenues (2,076) (9,644) (3,381) (15,574)

Selling, general and

administrative expenses (8,768) (25,365) (15,611) (45,889)

Income from operations 8,189 2,361 12,208 3,077

Interest income 86 639 96 734

Other income /(loss), net (41) 1,053 (22) 2,380

Income before taxes,

equity in affiliates 8,234 4,053 12,282 6,191

Income tax (expense)

/benefit (1,362) 3,445 (2,022) 2,933

Income before equity in

affiliates 6,872 7,498 10,260 9,124

Income from equity in

affiliates 300 -- 385 --

Net income 7,172 7,498 10,645 9,124

Less: Net (income)/loss

attributable to

non-controlling interests (179) 29 (355) (294)

Net income attributable to

CRIC shareholders 7,351 7,469 11,000 9,418

Earnings per share:

Basic 0.10 0.05 0.15 0.07

Diluted 0.10 0.05 0.15 0.06

Shares used in

computation:

Basic 71,522,222 143,113,568 71,522,222 143,049,145

Diluted 71,524,954 145,727,236 71,524,954 145,775,585

Notes

The conversion of Renminbi ("RMB") amounts into USD amounts

Note 1 is based on the rate of USD1 = RMB6.7909 on June 30, 2010 and

USD1 = RMB6.8179 for the three months ended June 30, 2010.

CHINA REAL ESTATE INFORMATION CORPORATION

Reconciliation of GAAP and Non-GAAP Results

(In thousands of U.S. dollars, except share data and per share data)

Three months ended Six months ended

June 30, June 30,

2009 2010 2009 2010

(unaudited) (unaudited) (unaudited) (unaudited)

GAAP income from

operations(1) 8,189 2,361 12,208 3,077

Share-based

compensation

expenses(2) 991 3,931 1,982 7,862

Amortization

expenses of

intangible assets

resulting from

business

acquisitions(3) 74 5,148 149 10,210

Non-GAAP income from

operations(4) 9,254 11,440 14,339 21,149

GAAP net income

attributable to

CRIC shareholders(5) 7,351 7,469 11,000 9,418

Share-based

compensation

expenses (net of tax

and non-controlling

interests) 991 3,931 1,982 7,862

Amortization expenses

of intangible assets

resulting from

business acquisitions

(net of tax and

non-controlling

interests) 56 4,453 112 8,873

Non-GAAP net income

attributable to CRIC

shareholders(6) 8,398 15,853 13,094 26,153

GAAP net income per

ADS - basic 0.10 0.05 0.15 0.07

GAAP net income per

ADS - diluted 0.10 0.05 0.15 0.06

Non-GAAP net income

per ADS - basic 0.12 0.11 0.18 0.18

Non-GAAP net income

per ADS - diluted 0.12 0.11 0.18 0.18

Shares used in

calculating basic

GAAP /Non-GAAP net

income attributable

to CRIC shareholders

per ADS 71,522,222 143,113,568 71,522,222 143,049,145

Shares used in

calculating diluted

GAAP / Non-GAAP net

income attributable

to CRIC shareholders

per ADS 71,524,954 145,727,236 71,524,954 145,775,585

Notes 2:

1: GAAP income from operations included $4.8 million and $10.5 million

GAAP losses from operations attributable to COHT for the second quarter

and first half of 2010, respectively.

2: Share-based compensation expenses included $2.2 million and $4.3

million attributable to COHT for the second quarter and first half of 2010,

respectively.

3: Amortization expenses included $5.0 million and $10.0 million

attributable to COHT for the second quarter and first half of 2010,

respectively.

4: Non-GAAP income from operations included $2.4 million and $3.8 million

attributable to COHT for the second quarter and first half of 2010,

respectively.

5: GAAP net income attributable to CRIC shareholders included $4.5 million

and $9.8 million net loss attributable to COHT for the second quarter and

first half of 2010, respectively.

6: Non-GAAP net income attributable to CRIC shareholders included $2.0

million and $3.3 million attributable to COHT for the second quarter and

first half of 2010, respectively.

Source: China Real Estate Information Corporation
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