Dallas, Texas 09/06/2013 (Financialstrend) – E-House (China) Holdings Limited (ADR) (NYSE:EJ) through its subsidiaries operates as a real estate service company in People’s Republic of China. The company provides primary real estate agency service to its real estate developer clients and brokers properties for resale. The company also offers various other real estate services like information and consulting, advertising, online services and investment fund management services through its majority owned subsidiary, China Real Estate information Corporation (NASDAQ:CRIC). The company’s network covers 250 cities in China.
Chinese stocks are on a growing phase after the announcement by the President Xi Jinping that the Government is omitted to solve fundamental problems with economy. The stock of the company was moving upward during the previous trading session on September 4, 2013. EJ traded with an upsurge of 28.32% and closed a $ 7.93 after gaining total volume of 4.89 million shares while the average trading volume was 0.81 shares. The company’s quarterly performance also remained positive with the percentage of +66.25.
Given the leasing business models and yield co-structures which are expected to insulate increasing interest rates, Chinese solar companies are expected to gain market share by gaining business even in the US utility market – ultimately adding to their revenues and capital gain.
Previously, the stock of the real estate brokerage company jumped to 32% in August in New York, which is considered as the biggest monthly gain since 2011. The company’s last report for 2Q13 showed a double digit percentage rise in revenue and also offered an upbeat view for the rest of the fiscal year. The company reported increase in total revenues by 43% to &163.4 million year over year. The company generated a profit of $6.4 or 5 cents a share million for the quarter ended June 30 as compared with a year ago loss of $7.8 million or 7 cents a share. Its earnings per share rose to 11 cents from 6 cents.