Fang Holdings Limited (NYSE:SFUN) Q1 2019 Earnings Conference Call Transcript
Jun 17, 2019 • 05:30 pm ET
(Operator Instructions) Your first question comes from the line of Miranda Zhuang from Merrill Lynch. Please ask your question.
Thank you, management for taking my questions. I have several questions, and this one is, can management give us some update of the -- that intention to spin-off the core advertising on listing business. Any update on the timeline and the way of doing the spin-off. I think that would be very helpful.
And then the second question is about the property market. Can management give us any color on the current new home and secondary home markets that you are seeing in China, and your outlook for the markets for this year. And then the implication of that to the -- like for example, new home advertising spending, the sentiments on the property developers. And also the number of secondary home agents in China. How do you see the trend for them?
And then my third question would be on the -- can management elaborate on your strategy for the listing and marketing business for FY'19. Any update on the monetization and the CapEx advance? Thank you.
Hi, Miranda. I think it's best for our full -- and our CEO Mr. Liu Jian to answer the question, so I can translate for you.
Hi, Miranda. (Foreign Language) The Fang (ph) spin-off, management expects to be closing on end of this year. But this is purely our management's schedule. It's nothing fixed yet.
(Foreign Language) Due to the central government's policy regarding the real estate markets. This whole concept of the policy is to be the healthiest for living, is not for speculation and also for the different cities, they can have their own tailor-made policies. So in management's point of view, we think the market would be stable in the 2019.
(Foreign Language) Through the government official statistic of public issues, for the first five months in 2019, with -- for the numbers of new projects started or the new basis that's solved in 2019, the number won't be changing much. We think the market is very healthy and stable. So that will help our business to be more healthy growth.
(Foreign language) In the top tier cities, the government used to have discount houses that can be publicly trade in this year, so we think that could boost market a little bit.
(Foreign language) So relative to the market positive outlook, so still -- the competition is still very intense. So they have increasing demand of spending in advertising and publishing themselves for either for the project or for the branding themselves.
(Foreign language) For the second hand market, we think the agents advertising budget is increasing, but since the second hand market advertising is quite competitive for different portals like wide income or (inaudible) like us, so we think the competition is still be very intense.
(Foreign Language) In our company, the traffic is very important for us and is also the main focus in 2019 for us. First