E-House (China) Enterprise Holdings Limited (E-House) (Stock Code: 2048) announced the termination of contractual agreements with Beijing Yisheng Leju Information Services Co., Ltd. (Beijing Leju) and its subsidiary, Shanghai Leju Hao Fang Information Service Co., Ltd. (Leju Hao Fang). These arrangements had previously facilitated operations in China’s internet and advertising industries after E-House’s acquisition of a majority interest in Leju Holdings Limited (Leju) in 2020.

According to the announcement, Beijing Leju’s business contribution to E-House has declined significantly, with its e-commerce operations largely ceasing and its online advertising activities greatly reduced. The termination of the relevant contractual arrangements means Beijing Leju and Leju Hao Fang have ceased to be consolidated affiliated entities of E-House, and their financial results are no longer consolidated into the Group.

It is noted that Leju remains a subsidiary of E-House, and the contractual arrangements with Beijing Jiajujiu E-Commerce Co., Ltd. remain in effect.