[NetEase News] HengTen Networks’ semiannual report: increase inboth revenue and net profit

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Chairman&Executive Director XuWen (center), Chief Financial Officer PanDarong(left) and Company Secretary FongKa Chun (right)

    HengTen Networks announced its 2017 interim results in Hong Kong on August25, which shows solid growth in coreindicators. As of 30 June 2017, its turnover is 92.71 million HKD, an increaseof 54% year on year; gross profit 54.45 million HKD, a year-on-year growth of 127%, and gross profit rate up to 58.73%; net profit 24.5 million HKD, basic earnings per share 0.03 HKD.

      At the results conference, HengTen also showed its business progress in the first half of 2017. As an asset-light online community service operator taking root in community settings, HengTen Networks focused on the major business of smart community and internet home furnishing in the past half year, with the aim to be the first to create acommunal ecosystem of the post-market after house delivery.

      According to the conference, HengTen has developed a “one-stop” online platform for community services - HengTen Mimi APP, where property owners are provided with multiple “Online Plus Offline” services on housing, smart facilities, conveniences, city, e-commerce, community activities etc., in order to further the creation of smart communities. HengTenMimi APP was upgraded to a 3.0 version in the past half this year, and its products and services have all been optimized. HengTen Networks had previously put lots of efforts into 12 pilot communities and successfully achieved standardized and reproducible products and operating models, based on which the second round of expansion into 29 new communities in 4 provinces (cities) was carried out in August.

       Another major business of HengTen Networks, the Internet house furnishing, has also boomed. The O2O operating model “Online Shopping Plus Offline Experience” for the HengTen’s Internet household business has matured for the first half this year and can fully meetthe personalized and diversified demands of the owners. HengTen had totally implemented over 100 programs of its Internet home furnishing business in 87cities up to the end of June 2017. Besides, HengTen also starts to off eroverall solutions to design and supply of soft decoration in apartments and residential quarters, and has developed and put more than 10 sets of solutions into effect.

       HengTen is said to expand its business size and increase its profits by means of standardized, reproducible products and operating models it has worked out. In addition to the expansion of the smart community services and continuous optimization of the Internet homefurnishing business, the community finance, Internet home decoration, community tourism etc. will also be planned to consistently integrate resources in the industry and to explore practicable models.

       As insiders note, it can be expected soon that HengTen takes the lead in the creation of a communal ecosystem of the post-market after house delivery, for its root in community settings,differ entiated business lines and accurate profit sources.