Leading Chinese real estate portal, Fang Holdings Limited, has announced its unaudited financial results for Q4 and 2020 fiscal year results ended December 31, 2020.
Fang reported that in the fourth quarter of 2020, total revenues were $56.5 million, up 14.6% from $49.3 million, year-over-year. Operating income was $5.9 million. Operating loss was $21 million, year-over-year. Net loss was around $76,000, down from $26.2 million, year-over-year.
When it comes to the 2020 fiscal year, total revenues were down 1.6%, $216,2 million compared to $319.7 million, year-over-year. Operating income was $32.1 million, up 31.4% from $24.9 million, year-over-year. Net loss was also down $6.5 million from $10.3 million, year-over-year.
Looking at the numbers, Fang has a good outlook for 2021. Its management team is expecting a positive net income for the coming fiscal year.
We’ve also reported the financial results reported by LIFULL pertaining to their real estate arm, LIFULL HOME’S. Two big hitters in the Asian region are showing impressive rebound in the wake of the COVID crisis.