Leju Announces CFO Change

Rhea-AI Summary

Leju Holdings Limited (NYSE: LEJU) announced a leadership change in its financial department. Mr. Li-Lan Cheng has resigned as acting CFO following the passing of CFO Liang Zhou on February 16, 2023. The board appointed Ms. Li Yuan, previously deputy CFO since June 2017, as the new CFO, effective February 19, 2023. Leju operates as a key e-commerce and online media platform within China’s real estate and home furnishing sectors. The company has established a broad presence through applications and websites, serving over 380 cities, and maintains strategic partnerships with major entities like Tencent Holdings Limited.

Positive

• Appointment of Ms. Li Yuan as new CFO, bringing experience as deputy CFO since June 2017
• Leju's extensive presence in over 380 cities in China enhances its market position
• Strategic partnerships with significant companies like Tencent bolster growth opportunities

Negative

• Resignation of Mr. Li-Lan Cheng may indicate instability in the financial leadership
• Passing of CFO Liang Zhou potentially disrupts operational continuity and investor confidence

BEIJING, Feb. 19, 2023 /PRNewswire/ -- Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China, today announced that Mr. Li-Lan Cheng, the acting chief financial officer of Leju, tendered his resignation to Leju's board of directors. Leju learnt with profound sadness that Mr. Liang Zhou, the chief financial officer of E-House (China) Enterprise Holdings Limited, Leju's parent company (SEHK: 2048) ("E-House"), passed away on February 16 after a prolonged illness. The board of directors of E-House has appointed Mr. Cheng as its chief financial officer, effective February 19.

The board of directors of Leju has confirmed the resignation of Mr. Cheng and appointed Ms. Li Yuan as the chief financial officer of Leju, effective February 19. Ms. Li Yuan has served as Leju's deputy chief financial officer since June 2017. Prior to that, she had been the head of investor relations of E-House (China) Holdings Limited, E-House's and Leju's affiliate company, since November 2008. Ms. Yuan received her master's degree in business administration from Johnson & Wales University.

About Leju

Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading e-commerce and online media platform for real estate and home furnishing industries in China, offering real estate e-commerce, online advertising and online listing services. Leju's integrated online platform comprises various mobile applications along with local websites covering more than 380 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company's own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Leju's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement All information provided in this press release is as of the date of this press release, and Leju does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 8474-1287
E-mail: ir@leju.com

Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com

View original content:https://www.prnewswire.com/news-releases/leju-announces-cfo-change-301750416.html

SOURCE Leju Holdings Limited

FAQ

What leadership change was announced by Leju Holdings on February 19, 2023?

Leju Holdings announced the resignation of acting CFO Mr. Li-Lan Cheng and appointed Ms. Li Yuan as the new CFO.

Who is the new CFO of Leju Holdings Limited?

Ms. Li Yuan, previously the deputy CFO, has been appointed as the new CFO effective February 19, 2023.

What happened to the previous CFO of Leju's parent company?

Liang Zhou, the CFO of E-House, Leju's parent company, passed away on February 16, 2023.

What is Leju Holdings known for?

Leju Holdings is a leading e-commerce and online media platform focused on the real estate and home furnishing industries in China.

How does Leju Holdings operate in the Chinese market?

Leju operates through various mobile applications and local websites, covering more than 380 cities, and offers real estate e-commerce, online advertising, and listing services.