Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2017 shares
Document Information [Line Items]
Entity Registrant Name	Fang Holdings Ltd
Entity Central Index Key	0001294404
Document Type	20-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2017
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	64,360,062
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	24,336,650

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 228,276	$ 336,528
Restricted cash, current	223,002	211,084
Short-term investments	55,801	42,929
Accounts receivable (net of allowance of US$34,366 and US$31,127 as of December 31, 2016 and 2017, respectively)	66,884	93,672
Funds receivable (net of allowance of US$2,322 and nil as of December 31, 2016 and 2017, respectively)	6,264	20,483
Prepayments and other current assets	32,704	39,824
Commitment deposits (net of allowance of nil and US$206 as of December 31, 2016 and 2017, respectively)	5,876	6,527
Loans receivable, current	129,438	41,966
Amounts due from a related party	167	197
Total current assets	748,412	793,210
Non-current assets:
Property and equipment, net	622,145	319,897
Land use right	35,728	0
Loans receivable, non-current	14,674	16,808
Deferred tax assets	7,602	4,915
Restricted cash, non-current	39,982	0
Deposit for non-current assets	58,722	240,712
Long-term investments	470,964	231,880
Other non-current assets	2,026	7,391
Total non-current assets	1,251,843	821,603
Total assets	2,000,255	1,614,813
Current liabilities:
Short-term loans (including short-term loans of the People’s Republic of China (“PRC”) Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$22,734 and US$59,820 as of December 31, 2016 and 2017, respectively)	236,985	212,734
Deferred revenue (including deferred revenue of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$21,744 and US$27,095 as of December 31, 2016 and 2017, respectively)	168,884	129,765
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$106,459 and US$54,516 as of December 31, 2016 and 2017, respectively)	158,799	318,539
Customers’ refundable fees (including customers’ refundable fees of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$18,295 and US$ 10,986 as of December 31, 2016 and 2017, respectively)	7,070	28,630
Income tax payable (including income tax payable of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$199 and US$1,325 as of December 31, 2016 and 2017, respectively)	4,374	6,022
Convertible senior notes	5,700	0
Total current liabilities	581,812	695,690
Non-current liabilities:
Long-term loans (including long-term loans of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries without recourse to the Company of US$65,190 and US$55,958 as of December 31, 2016 and 2017, respectively)	114,109	65,190
Convertible senior notes	291,365	295,268
Deferred tax liabilities	126,641	70,424
Other non-current liabilities	146,053	416
Total non-current liabilities	678,168	431,298
Total liabilities	1,259,980	1,126,988
Commitments and contingencies
Shareholders' equity:
Additional paid-in capital	500,666	488,943
Accumulated other comprehensive (loss) income	137,630	(81,349)
Retained earnings	225,574	203,870
Less: Treasury stock (7,065,058 and 7,065,058 shares as of December 31, 2016 and 2017, respectively.)	(136,615)	(136,615)
Total Fang Holdings Limited shareholders’ equity	739,583	487,130
Noncontrolling interests	692	695
Total shareholders’ equity	740,275	487,825
Total liabilities and shareholders’ equity	2,000,255	1,614,813
Common Class A [Member]
Shareholders' equity:
Ordinary shares	9,204	9,157
Common Class B [Member]
Shareholders' equity:
Ordinary shares	$ 3,124	$ 3,124

CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	Dec. 31, 2017 USD ($) shares	Dec. 31, 2017 HKD ($) $ / shares shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2016 HKD ($) $ / shares shares
Accounts receivable, allowance	$ 31,127		$ 34,366
Allowance for Doubtful Accounts Receivable	31,127		34,366
Short-term loans	236,985		212,734
Deferred revenue	168,884		129,765
Accrued expenses and other liabilities	158,799		318,539
Customer’s refundable fees	7,070		28,630
Income tax payable	4,374		6,022
Long-term loans	$ 114,109		$ 65,190
Class A and Class B ordinary shares, shares authorized \| shares	600,000,000	600,000,000	600,000,000	600,000,000
Treasury Stock, Shares \| shares	7,065,058	7,065,058	7,065,058	7,065,058
Commitment Deposits [Member]
Allowance for Doubtful Accounts Receivable	$ 206		$ 206
Funds Receivable [Member]
Accounts receivable, allowance			2,322
Allowance for Doubtful Accounts Receivable			2,322
PRC Domestic Entities [Member]
Short-term loans	59,820		22,734
Deferred revenue	27,095		21,744
Accrued expenses and other liabilities	54,516		106,459
Customer’s refundable fees	10,986		18,295
Income tax payable	1,325		199
Long-term loans	$ 55,958		$ 65,190
Common Class A [Member]
Ordinary shares, par value \| $ / shares		$ 1		$ 1
Class A and Class B ordinary shares, shares authorized \| shares	600,000,000	600,000,000	600,000,000	600,000,000
Ordinary Shares, Shares issued \| shares	71,425,120	71,425,120	71,077,816	71,077,816
Ordinary Shares, Shares outstanding \| shares	64,360,062	64,360,062	64,012,758	64,012,758
Common Class B [Member]
Ordinary shares, par value \| $ / shares		$ 1		$ 1
Class A and Class B ordinary shares, shares authorized \| shares	600,000,000	600,000,000	600,000,000	600,000,000
Ordinary Shares, Shares issued \| shares	24,336,650	24,336,650	24,336,650	24,336,650
Ordinary Shares, Shares outstanding \| shares	24,336,650	24,336,650	24,336,650	24,336,650

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues
Total gross revenues	$ 444,296	$ 916,391	$ 883,549
Cost of revenues
Cost of services	(174,599)	(687,184)	(555,389)
Total cost of revenues	(174,599)	(687,184)	(555,389)
Gross profit	269,697	229,207	328,160
Operating (expenses) income
Selling expenses	(91,250)	(229,817)	(236,603)
General and administrative expenses (including related party amounts of US$776, US$897and US$501for the years ended December 31, 2015, 2016 and 2017, respectively)	(135,688)	(151,251)	(125,405)
Other income (loss)	(567)	415	(625)
Operating income (loss)	42,192	(151,446)	(34,473)
Foreign exchange (loss) gain	15	(1,882)	1,464
Interest income	11,322	11,367	22,221
Interest expense	(16,153)	(20,791)	(16,519)
Change in fair value of trading securities	518	0	0
Realized gain on sale available-for-sale security (including accumulated other comprehensive income reclassifications for unrealized gain on available-for-sale security of US$10,583, US$2,736 for the year ended December 31, 2016, 2017)	2,736	10,583	0
Government grants	3,154	6,469	4,936
Investment income	6,692	3,281	1,333
Other non-operating loss	(4,562)	0	0
Impairment on investments	(2,768)	(2,232)	0
Income (loss) before income taxes and noncontrolling interests	43,146	(144,651)	(21,038)
Income tax (expense) benefit	(21,442)	(24,984)	5,905
Net income (loss)	21,704	(169,635)	(15,133)
Net loss attributable to noncontrolling interests	(3)	0	(37)
Net income (loss) attributable to Fang Holdings Limited’s shareholders	21,707	(169,635)	(15,096)
Other comprehensive income (loss), before tax
Foreign currency translation adjustments	56,571	(60,732)	(55,928)
Amounts reclassified from accumulated other comprehensive income	(2,736)	(10,583)	0
Unrealized gain (loss) on available-for-sale securities	212,838	7,326	(4,002)
Gain (loss) on intra-entity foreign transactions of long-term-investment nature	1,872	(6,996)
Other comprehensive income (loss), before tax	268,545	(70,985)	(59,930)
Income tax expense related to components of other comprehensive income	(49,566)	0	0
Other comprehensive income (loss), net of tax	218,979	(70,985)	(59,930)
Comprehensive income (loss)	240,683	(240,620)	(75,063)
Comprehensive loss attributable to noncontrolling interests	(3)	0	(37)
Comprehensive income (loss) attributable to Fang Holdings Limited’s shareholders	$ 240,686	$ (240,620)	$ (75,026)
Earnings (loss) per share for Class A and Class B ordinary shares
Basic	$ 0.25	$ (1.81)	$ (0.18)
Diluted	$ 0.24	$ (1.81)	$ (0.18)
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic	88,475,665	93,605,749	85,170,886
Diluted	91,585,677	93,605,749	85,170,886
E-commerce services [Member]
Revenues
Total gross revenues	$ 87,809	$ 577,684	$ 474,810
Marketing Services [Member]
Revenues
Total gross revenues	149,267	165,437	249,862
Listing Services [Member]
Revenues
Total gross revenues	165,374	118,109	107,922
Financial Services [Member]
Revenues
Total gross revenues	12,055	29,602	29,582
Other value-added services [Member]
Revenues
Other Revenues	$ 29,791	$ 25,559	$ 21,373

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
General and administrative expenses	$ 135,688	$ 151,251	$ 125,405
Accumulated other comprehensive income reclassifications for unrealized gain on available-for-sale security	2,736	10,583
Related Party [Member]
General and administrative expenses	$ 501	$ 897	$ 776

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 21,704	$ (169,635)	$ (15,133)
Adjustments to reconcile net income (loss) to net cash generated from (used in) operating activities:
Share-based compensation	7,218	6,552	4,497
Depreciation of property and equipment	27,961	25,004	14,668
Deferred tax benefits	(317)	(2,250)	(32,361)
Allowance for doubtful accounts	32,614	29,712	18,649
Allowance for funds receivable	0	2,322	0
Realized and unrealized gain related to investment securities	(3,254)	(10,583)	0
Impairment on investments	2,768	2,232	0
Amortization of loan origination costs	191	1,302	1,393
Amortization of issuance costs for convertible senior notes	1,797	4,964	3,196
Loss on disposal of property and equipment	5,571	719	0
Deemed rental expense (Note 18)	159	154	169
Allowance for commitment deposit	206	0	0
Changes in operating assets and liabilities:
Accounts receivable	(437)	16,190	(118,797)
Funds receivable	2,330	7,769	13,177
Prepayments and other current assets	9,405	16,730	(35,333)
Commitment deposits	816	4,119	36,666
Loans receivable, current	30,901	214,824	(53,340)
Loans receivable, non-current	14,800	36,158	(192,059)
Amounts due from a related party	(445)	273	(262)
Other non-current assets	5,644	(317)	2,250
Deferred revenue	30,260	(6,535)	33,099
Accrued expenses and other liabilities	(39,343)	(17,574)	106,412
Customers’ refundable fees	(22,651)	(27,580)	19,161
Income tax payable	(1,685)	(3,437)	29,346
Amounts due to a related party	0	0	(657)
Other non-current liabilities	676	127	(51)
Net cash generated from (used in) operating activities	126,889	131,240	(165,310)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of short-term investments	(383,064)	(73,804)	(129,759)
Proceeds from maturity of fixed-rate time deposits	373,363	89,952	507,007
Proceeds from disposal of available-for-sale securities	13,931	13,074	0
Acquisition of property and equipment	(65,885)	(24,576)	(45,151)
Origination of loans receivable	(212,824)
Repayment of loans receivable	86,931	0	0
Purchase of land use right	(34,263)	0	(54)
Acquisition of long-term investments	(13,000)	(4,902)	(127,388)
Proceeds from disposal of property and equipment	5,755	924	635
Deposits for non-current assets	(55,456)	(128,614)	(146,728)
Net cash (used in) generated from investing activities	(284,512)	(127,946)	58,562
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Class A ordinary shares	0	0	346,775
Proceeds from exercise of share options	4,785	1,664	8,416
Proceeds from issuance of shares by a PRC Domestic Entity’s subsidiary	0	0	718
Proceeds from short-term loans	0	296,558	72,750
Proceeds from long-term loans	111,475	67,721	0
Repayment of loans	(43,989)	(182,362)	(153,500)
Proceeds from issuances of convertible senior notes	0	0	300,000
Redemption of convertible senior notes	0	(394,300)
Repurchase of ordinary shares	0	(136,615)
Payment of issuance costs for convertible senior notes	0	0	0
Payment of loan origination costs	(302)	0	(15)
Payment of dividends	0	0	(82,751)
Changes in restricted cash	(37,959)	(118,281)	95,078
Net cash generated from (used in) financing activities	34,010	(465,615)	587,471
Exchange rate effect on cash and cash equivalents	15,361	(19,072)	(17,562)
Net (decrease) increase in cash and cash equivalents	(108,252)	(481,393)	463,161
Cash and cash equivalents at beginning of year	336,528	817,921	354,760
Cash and cash equivalents at end of year	228,276	336,528	817,921
Supplemental schedule of cash flow information:
Income tax paid	7,979	6,664	6,674
Interest Paid, Net	16,895	19,418	13,245
Acquisition of property and equipment through utilization of deposits	244,568	14,345	90,713
Acquisition of property and equipment included in accrued expenses and other liabilities	6,121	0	0
Long-term investments received in settlement of funds receivable	$ 12,058	$ 13,947	$ 0

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A [Member]	Class B [Member]	Ordinary Shares [Member]	Ordinary Shares [Member] Class A [Member]	Ordinary Shares [Member] Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Foreign currency translation adjustments [Member]	Unrealized gain on available-for- sale securities [Member]	Intra-entity foreign currency transaction loss [Member]	Parent [Member]	Retained Earnings [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2014	$ 632,689			$ 10,619			$ 101,072		$ 39,058	$ 10,508		$ 49,566	$ 471,352	$ 80
Beginning Balance (in shares) at Dec. 31, 2014					58,364,924	24,336,650
Net profit loss for the year	(15,133)	$ (15,096)	$ (4,313)										(15,096)	(37)
Other comprehensive loss:
Foreign currency translation adjustments	(55,928)								(55,928)			(55,928)
Unrealized gain (loss) on available-for-sale securities	(4,002)									(4,002)		(4,002)
Amounts reclassified from accumulated other comprehensive income	0
Contribution by noncontrolling interests	718													718
Contribution from shareholder	169						169
Issuance of Class A ordinary shares	346,775			1,548			345,227
Issuance of Class A ordinary shares (in shares)					11,855,384
Beneficial conversion feature on convertible senior notes	12,113						12,113
Share-based compensation	4,497						4,497
Excess tax benefits	9,442						9,442
Exercise of share options	5,938			67			5,871
Exercise of share options (in shares)					516,371
Dividends declared	(82,751)	(58,414)	(24,337)										(82,751)
Ending Balance at Dec. 31, 2015	854,527			12,234			478,391		(16,870)	6,506		(10,364)	373,505	761
Ending Balance (in shares) at Dec. 31, 2015					70,736,679	24,336,650
Net profit loss for the year	(169,635)	(169,635)	(44,104)										(169,635)
Other comprehensive loss:
Foreign currency translation adjustments	(60,732)								(60,732)			(60,732)
Unrealized gain (loss) on available-for-sale securities	7,326									7,326		7,326
Foreign currency transaction gain	(6,996)										(6,996)	(6,996)
Amounts reclassified from accumulated other comprehensive income	10,583									(10,583)		(10,583)
Contribution by noncontrolling interests	(66)													(66)
Contribution from shareholder	154						154
Repurchase of treasury stock	(136,615)							(136,615)
Repurchase of treasury stock (in shares)					7,065,058
Share-based compensation	6,552						6,552
Excess tax benefits	470						470
Exercise of share options	3,423			47			3,376
Exercise of share options (in shares)					341,137
Ending Balance at Dec. 31, 2016	487,825			12,281			488,943	(136,615)	(77,602)	3,249	(6,996)	(81,349)	203,870	695
Ending Balance (in shares) at Dec. 31, 2016					64,012,758	24,336,650
Net profit loss for the year	21,704	$ 21,707	$ 5,971										21,704
Other comprehensive loss:
Foreign currency translation adjustments	56,571								56,571			56,571
Unrealized gain (loss) on available-for-sale securities	163,272									163,272		163,272
Foreign currency transaction gain	1,872										1,872	1,872
Amounts reclassified from accumulated other comprehensive income	2,736									(2,736)		(2,736)
Contribution by noncontrolling interests	(3)													(3)
Contribution from shareholder	159						159
Share-based compensation	7,218						7,218
Exercise of share options	4,393			47			4,346
Exercise of share options (in shares)					347,304
Ending Balance at Dec. 31, 2017	$ 740,275			$ 12,328			$ 500,666	$ (136,615)	$ (21,031)	$ 163,785	$ (5,124)	$ 137,630	$ 225,574	$ 692
Ending Balance (in shares) at Dec. 31, 2017					64,360,062	24,336,650

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares
Dividends declared	$ 82,751
Common Class A [Member]
Dividends declared, per share \| $ / shares	$ 1.00
Dividends declared	$ 58,414
Common Class B [Member]
Dividends declared, per share \| $ / shares	$ 1.00
Dividends declared	$ 24,337

ORGANIZATION AND BASIS OF PRESENTATION

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

ORGANIZATION AND BASIS OF PRESENTATION

The Company was incorporated on June 18, 1999 as Fly High Holdings Limited under the laws of the British Virgin Islands (“BVI”). In June 2004, the Company changed its name to SouFun Holdings Limited and its corporate domicile to the Cayman Islands and became a Cayman Islands company with limited liability under the Companies Law of the Cayman Islands. In 2016, the Company changed its name to Fang Holdings Limited (formerly known as SouFun Holdings Limited). The accompanying consolidated financial statements include the financial statements of (i) Fang Holdings Limited (the “Company”), (ii) its subsidiaries located outside of the People’s Republic of China (the “PRC”) (the “non-PRC subsidiaries”), (iii) wholly foreign owned entities in the PRC (the “WOFEs”) and their subsidiaries, (iv) entities controlled through contractual arrangements (the “PRC Domestic Entities”) and (v) the PRC Domestic Entities’ subsidiaries. The Company, and where appropriate, the term “Company” also refers to its non-PRC subsidiaries, WOFEs, PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries as a whole.

The Company is principally engaged in the provision of E-commerce services, marketing services, listing services, financial services and other value-added services to the real estate and home furnishing industries in the PRC. Details of the Company’s major subsidiaries and PRC Domestic Entities as of December 31, 2017 were as follows:

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing SouFun Internet Information Service Co., Ltd. ("Beijing Internet")	December 17, 2003	PRC	Provision of marketing services and listing services

SouFun Media Technology (Beijing) Co., Ltd. ("SouFun Media")	November 28, 2002	PRC	Provision of technology and information consultancy services

Beijing SouFun Network Technology Co., Ltd. ("SouFun Network")	March 16, 2006	PRC	Provision of technology and information consultancy services

Beijing SouFun Science and Technology Development Co., Ltd. ("Beijing Technology")	March 14, 2006	PRC	Provision of marketing services and listing services

Beijing Century Jia Tian Xia Technology Development Co., Ltd. ("Beijing JTX Technology")	December 21, 2006	PRC	Provision of marketing services and listing services

Beijing Zhong Zhi Shi Zheng Information Technology Co. Ltd., ("Beijing Zhongzhi")	June 5, 2007	PRC	Provision of technology and information consultancy services

Xinjiang Zhong Zhi Shu Ju Information Technology Co., Ltd. (“Xinjiang Zhong Zhi Shu Ju”)	August 10, 2017	PRC	Provision of technology and information consultancy services

Beijing Hong An Tu Sheng Network Technology Co., Ltd. ("Beijing Hong An")	January 1, 2011	PRC	Provision of technology and information consultancy services

Beijing Tuo Shi Huan Yu Network Technology Co., Ltd. ("Beijing TuoShi")	March 1, 2011	PRC	Provision of technology and information consultancy services

Beijing Yi Ran Ju Ke Technology Development Co., Ltd. ("Beijing Yi Ran Ju Ke")	September 10, 2011	PRC	Provision of marketing services, rental services and real estate agency services

Beijing Hua Ju Tian Xia Network Technology Co., Ltd. ("Beijing Hua Ju Tian Xia")**	July 25, 2012	PRC	Provision of technology and information consultancy services

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing Li Man Wan Jia Network Technology Co., Ltd. ("Beijing Li Man Wan Jia")	July 25, 2012	PRC	Provision of technology and information consultancy services

Shanghai Jia Biao Tang Real Estate Broking Co., Ltd. ("Shanghai JBT Real Estate Broking")	July 7, 2005	PRC	Provision of real estate agency services, marketing services and listing services

Beijing Zhong Zhi Xun Bo Information Technology Co. Ltd., ("Zhongzhi Xun Bo")	January 6, 2012	PRC	Provision of technology and information consultancy services

Tianjin SouFun Network Technology Co., Ltd.("Tianjin SouFun Network")	March 1, 2012	PRC	Provision of technology and information consultancy services

Hangzhou SouFun Network Technology Co., Ltd., ("Hangzhou SouFun Network")	August 27, 2013	PRC	Provision of technology and information consultancy services

Wuhan SouFun Yi Ran Ju Ke Real Estate Agents Co., Ltd. ("Wuhan Yi Ran Ju Ke")	December 13, 2013	PRC	Provision of real estate agency services and real estate information services

Hanzhou Ji Ju Real Estate Agents Co., Ltd. ("Hanzhou Ji Ju")	December 23, 2013	PRC	Provision of real estate agency services and real estate information services

Beijing Tianxia Dai Information service Co., Ltd.("Tianxia Dai Information")	April 9, 2014	PRC	Provision of finance information services

Shanghai SouFun Microfinance Co.,Ltd.("Shanghai SouFun Microfinance")	January 19, 2015	PRC	Provision of Microfinance services

Beihai Tian Xia Dai Microfinance Co., Ltd.("Beihai Tian Xia Dai Microfinance")	September 12, 2014	PRC	Provision of microfinance services

Shanghai BaoAn Enterprise Co., Ltd. (“Shanghai BaoAn Enterprise”)	March 31, 2013	PRC	Lease, resale and management of property

Shanghai BaoAn Hotel Co., Ltd. (“Shanghai BaoAn Hotel”)	March 31, 2013	PRC	Operation and management of hotel, restaurant and other catering business

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing Fang Tian Xia Decorative Engineering Co., Ltd.("Beijing Fang Tian Xia Decorative Engineering")	October 15, 2014	PRC	Provision of decorative engineering services

Chongqing Tian Xia Dai Microfinance Co., Ltd ("Chongqing Tian Xia Dai Microfinance")	December 11, 2014	PRC	Provision of microfinance services

Tianjin Jia Tian Xia Microfinance Co. ,Ltd. ("Tianjin Jia Tian Xia Microfinance")	December 5, 2014	PRC	Provision of microfinance services

Beijing Fang Chao Real Estate Broking Co., Ltd.	March 6, 2015	PRC	Provision of real estate agency services

Guangzhou Fang Tian Xia Real Estate Broking Co., Ltd.	March 9, 2015	PRC	Provision of real estate agency services

Beijing Cun Fang Real Estate Broking Co., Ltd.	April 7, 2015	PRC	Provision of real estate agency services

Shenzhen Fang Tian Xia Broking Co., Ltd.	April 13, 2015	PRC	Provision of real estate agency services

Tianjin Fang Tian Xia Real Estate Broking Co., Ltd.	May 21, 2015	PRC	Provision of real estate agency services

Nanjing Cun Fang Real Estate Broking Co., Ltd.	April 30, 2015	PRC	Provision of real estate agency services

Company	Date of Establishment	Place of Establishment	Principal Activities

Nanchang Cun Fang Real Estate Broking Co., Ltd.	June 3, 2015	PRC	Provision of real estate agency services

Chongqing Fang Tian Xia Real Estate Broking Co., Ltd.	May 27, 2015	PRC	Provision of real estate agency services

Shanghai SouFun Fang Tian Xia Broking Co., Ltd.	April 16, 2015	PRC	Provision of real estate agency services

Beijing Li Tian Rong Ze Yi Jia Technology Development Co., Ltd.	September 16, 2015	PRC	Provision of technology and information consultancy services

Fang Holdings Limited	August 7, 2000	Hong Kong	Investment holding

Hong Kong Property Network Limited ("HK Property")	May 19, 2011	Hong Kong	Investment holding

Best Fang Holdings LLC	Aug 30, 2017	United States of America	Investment holding

Best Work Holdings (New York) LLC ("Best Work")	March 14, 2011	United States of America	Investment holding

Historically, in order to comply with PRC laws and regulations which restrict foreign control of companies involved in internet content provision (“ICP”) and advertising businesses, the Company operates its websites and provides online marketing advertising services in the PRC through its PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries.

The equity interests of the PRC Domestic Entities are legally held directly by Vincent Tianquan Mo, executive chairman of the board of directors and chief executive officer, and Richard Jiangong Dai, a director of the board who resigned from the board effective February 25, 2016. The effective control of the PRC Domestic Entities is held by the Company through three of its WOFEs, namely, SouFun Network, Beijing Zhongzhi and Jia Tian Xia Network Technology as a result of a series of contractual arrangements and their supplementary agreements signed with each of the PRC Domestic Entities which arrangements and agreements contain similar provisions regarding obligations and rights of the Company and the PRC Domestic Entities (hereinafter, together the “Contractual Agreements”). As a result of the Contractual Agreements, the Company maintains the ability to approve decisions made by the PRC Domestic Entities, is entitled to substantially all of the economic benefits from the PRC Domestic Entities and is obligated to absorb all of the PRC Domestic Entities’ expected losses.

Therefore, the Company consolidates the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries in accordance with the United States of America Securities and Exchange Commission (“SEC”) Regulation S-X Rule 3A-02 and Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”).

The following is a summary of the Contractual Agreements:

Exclusive Technical Consultancy and Service Agreements

The WOFEs provide the following exclusive technical services to the PRC Domestic Entities: (i) access to information assembled by the WOFEs concerning the real estate industry and companies in this sector to enable the PRC Domestic Entities to target potential customers and provide research services; and (ii) technical information technology system support to enable the PRC Domestic Entities to service the needs of its customers. The agreements are effective for 10 years and can be extended indefinitely at the sole discretion of the WOFEs.

Operating Agreements

Pursuant to the operating agreements, each PRC Domestic Entity and its legal shareholders have agreed not to enter into any transaction that would substantially affect the assets, rights, obligations or operations of the PRC Domestic Entity without prior written consent from the WOFEs. In addition, the PRC Domestic Entities will appoint or remove their directors and executive officers based on instruction from the WOFEs. The agreements are effective for 10 years and can be extended indefinitely at the sole discretion of the WOFEs.

Equity Pledge Agreements, Shareholders Proxy Agreements and Exclusive Call Option Agreements

In order to secure the payment obligations of each PRC Domestic Entity under the exclusive technical consultancy and service agreements, the legal shareholders have pledged their entire respective ownership interests in each Domestic PRC Entity to the WOFEs. The legal shareholders shall not transfer the pledged ownership interests without the prior written consent from the WOFEs. The WOFEs are entitled to dividends and funds obtained through conversion, auction or sale of the ownership interests that the legal shareholders pledged to the WOFEs. The agreements are effective for 10 years and can be extended at the sole discretion of the WOFEs.

The legal shareholders irrevocably appoint the WOFEs to act as proxy for the legal shareholders to exercise their respective rights as shareholders of the PRC Domestic Entities to attend shareholders' meetings and cast votes. The agreements will remain valid until terminated upon written consent by the WOFEs, the PRC Domestic Entities and their legal shareholders or by their successors.

The Company or any third party designated by the Company has the exclusive right to acquire from the legal shareholders the whole or part of the respective equity interests in each PRC Domestic Entity at a price equivalent to the historical cost when permitted by applicable PRC laws and regulations. The legal shareholders shall not sell, transfer or dispose of the equity interests in the PRC Domestic Entities without the prior written consent of the Company or any third party designated by the Company. The proceeds from the exercise of the call option will be applied to repay the loans under the loan agreements. The Company does not have to make any additional payment to the legal shareholders. The PRC Domestic Entities will not distribute any dividend without the prior written consent from the WOFEs. The agreements have a term of 10 years and can be extended indefinitely at the sole discretion of the Company.

Loan Agreements

The WOFEs provided loans to the legal shareholders to enable them to contribute the registered capital of the PRC Domestic Entities. Under the terms of the loan agreements, the legal shareholders will repay the loans by transferring their legal ownership in the PRC Domestic Entities to the WOFEs when permitted by applicable PRC laws and regulations. Any gains from the transfer shall be paid back to the WOFEs or any third party designated by the WOFEs. The repayment term of the loans was not stated in the agreements. The legal shareholders are liable to repay their respective portions of the loans by transferring their entire respective equity interests in the PRC Domestic Entities upon the written request of the WOFEs when such legal shareholders terminate their employment with the WOFEs.

Supplementary Agreements

In addition to the above contractual agreements, the Company, the WOFEs, the PRC Domestic Entities and their legal shareholders entered into supplementary agreements in March 2010 to memorialize certain terms previously agreed amongst the Company, the WOFEs, the PRC Domestic Entities and their legal shareholders. While these supplementary agreements were signed in 2010, the terms, intent and substance of all the agreements above remained unchanged. Pursuant to the supplementary agreements:

the WOFEs have unilateral discretion in setting the technical service fees charged to the PRC Domestic Entities;

the WOFEs are obligated to provide financial support to the PRC Domestic Entities in the event the PRC Domestic Entities incur losses;

the annual budget of the PRC Domestic Entities should be assessed and approved by the WOFEs;

the legal shareholders agree to remit any profits distributed from the PRC Domestic Entities to the Company upon request by the Company; and

the PRC Domestic Entities are obligated to transfer their entire retained earnings, after deduction of PRC income tax, to the WOFEs in the form of a donation upon the WOFEs’ request.

All of these provisions have been incorporated into the Contractual Agreements signed subsequent to March 2010.

Furthermore, the WOFEs and the PRC Domestic Entities entered into supplementary agreements in March 2013 to memorialize the following terms previously agreed between the WOFEs and the PRC Domestic Entities when the Exclusive Call Option Agreements were entered into:

the legal shareholders agreed to remit the purchase consideration received from the exercise of the exclusive right to acquire the equity interests in the PRC Domestic Entities to the WOFEs or any entity designated by the WOFEs.

This provision has been incorporated into the Contractual Agreements signed subsequent to March 2013.

Through the design of the aforementioned agreements, the legal shareholders of the PRC Domestic Entities effectively assigned their full voting rights to the WOFEs, which give the WOFEs the power to direct the activities that most significantly impact the PRC Domestic Entities’ economic performance. The WOFEs obtained the ability to approve decisions made by the PRC Domestic Entities and the ability to acquire the equity interests in the PRC Domestic Entities when permitted by PRC law. The WOFEs are obligated to absorb a majority of the expected losses from the PRC Domestic Entities’ activities through providing unlimited financial support to the PRC Domestic Entities and are entitled to receive a majority of profits from the PRC Domestic Entities through the exclusive technical consultancy and service fees. As a result, the Company has determined that the WOFEs are the primary beneficiaries of the PRC Domestic Entities. Accordingly, in accordance with SEC Regulation S-X Rule 3A-02 and ASC 810, the Company, through the WOFEs, has consolidated the operating results of the PRC Domestic Entities in the Company’s financial statements. Business taxes (“BT”) and value added taxes (“VAT”) relating to service fees charged by the WOFEs are recorded as cost of services.

The carrying amounts of the assets, liabilities, the results of operations and cash flows of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries included in the Company’s consolidated balance sheets, statements of comprehensive income (loss) and statements of cash flows were as follows:

	As of December 31,
	2016		2017
	US$		US$
ASSETS
Current assets:
Cash and cash equivalents		18,352		50,948
Restricted cash, current		209,642		223,002
Short-term investments		2,595		19,838
Accounts receivable (net of allowance of US$19,013 and US$ 13,691 as of December 31, 2016 and 2017, respectively)		74,624		22,119
Funds receivable (net of allowance of US$2,322 and nil as of December 31, 2016 and 2017, respectively)		886		2,824
Commitment deposits (net of allowance of nil and US$206 as of December 31, 2016 and 2017, respectively)		6,527		5,876
Prepayments and other current assets		16,290		16,856

Total current assets		328,916		341,463

Non-current assets:
Property and equipment, net		34,452		275,601
Long-term investments		216,913		433,894
Deferred tax assets, non-current		270		2
Deposit for non-current assets		224,529		41,428
Other non-current assets		633		204
Land use right		-		34,951

Total non-current assets		476,797		786,080

Total assets		805,713		1,127,543

	As of December 31,
	2016		2017
	US$		US$
Current liabilities:
Short-term loans		22,734		59,820
Deferred revenue		21,744		27,095
Accrued expenses and other liabilities		106,459		54,516
Customer’s refundable fees		18,295		10,986
Income tax payable		199		1,325
Intercompany payable to the non PRC Domestic Entities		356,423		431,770

Total current liabilities		525,854		585,512

Non-current liabilities:
Long-term loans		65,190		55,958
Other non-current liabilities		-		37,936
Deferred tax liabilities, non-current		-		51,227

Total non-current liabilities		65,190		145,121

Total liabilities		591,044		730,633

Net assets		214,669		396,910

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Total revenues		315,797		287,475		91,807
Net loss		(41,831)		(24,135)		(6,484)

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Net cash generated from (used in) operating activities		(61,480)		(790)		122,327
Net cash used in investing activities		(8,913)		(3,763)		(99,946)
Net cash generated from (used in) financing activities		95,078		(25,963)		8,142

The PRC Domestic Entities had no intercompany amounts payable to the WOFEs for accrued service fees as of December 31, 2016 and 2017. The WOFEs did not charge the PRC Domestic Entities, technology consultancy service fees during the years ended December 31, 2015, 2016 and 2017.

As of December 31, 2017, except for the current restricted cash of US$223,002, deposit for non-current assets of US$41,107 and property and equipment of US$242,377 pledged to secure bank borrowings of the Company (Note 11), there was no other pledge or collateralization of the assets of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries.

Creditors of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries have no recourse to the general credit of their respective primary beneficiary. The amounts of liabilities of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries have been parenthetically presented on the consolidated balance sheets. The PRC Domestic Entities held certain registered copyrights, trademarks and registered domain names, which are used for the Company’s business operations. All of these revenue-producing assets were internally developed, for which the Company did not incur significant development costs. There were no other assets of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries that can only be used to settle their own obligations except for deposit for non-current assets of US$41,107 and property and equipment of US$242,377. The WOFEs have not provided any financial support that they were not previously contractually required to provide to the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries during the years presented.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles (“U.S. GAAP”).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in the Company’s financial statements include, but are not limited to, customer refunds, allowance for doubtful accounts, allowance for credit losses, useful lives of property and equipment, realization of deferred tax assets, impairment of long-lived assets, share-based compensation expense, uncertain income tax positions, fair value of the embedded derivatives in the convertible senior notes issued, and fair value of long term investments and trading securities. Changes in facts and circumstances may result in revised estimates. Actual results could materially differ from those estimates.

Principles of Consolidation

The consolidated financial statements include the financial statements of the Company, its non-PRC subsidiaries, WOFEs, the PRC Domestic Entities in which the Company, through its WOFEs, has a controlling financial interest, and the PRC Domestic Entities’ subsidiaries. The Company has determined that it has a controlling financial interest, even though it does not hold a majority of the voting equity interest in an entity, because the Company has the ability to control the PRC Domestic Entities through the WOFEs’ rights to all the residual benefits of the PRC Domestic Entities and the WOFEs’ obligation to fund losses of the PRC Domestic Entities. As a result, the PRC Domestic Entities are included in the consolidated financial statements. All significant intercompany balances and transactions between the Company, its subsidiaries, the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries have been eliminated in consolidation.

Foreign Currency Translation and Transactions

The functional currency of the Company and its non-PRC subsidiaries is the United States dollars (“US$”). The WOFEs, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries determine their functional currency to be the Chinese Renminbi (“RMB”) based on the criteria of ASC 830, “Foreign Currency Matters”. The Company uses US$ as its reporting currency. The Company uses the monthly average exchange rate for the year and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively. Translation differences are recorded in accumulated other comprehensive income (loss), a component of shareholders’ equity.

Transactions denominated in foreign currencies are remeasured into the functional currency at the exchange rates prevailing on the transaction dates. Foreign currency denominated financial assets and liabilities are remeasured at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of comprehensive income (loss).

The assets and liabilities of the Company’s PRC subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries are translated into US$ at the exchange rates prevailing at the balance sheet date. The consolidated statements of comprehensive income (loss) of these entities are translated into US$ at the weighted average exchange rates for the year. The resulting translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of shareholders’ equity.

For the purpose of the consolidated statements of cash flows, cash flows of the Company’s PRC subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries are translated into US$ at the exchange rates prevailing on the dates of the cash flows. Frequently recurring cash flows of these entities which arise throughout the year are translated into US$ at the weighted average exchange rates for the year.

Transaction gains and losses are recognized in the consolidated statements of operations. Gains and losses on intra-entity foreign currency transactions that are of a long-term-investment nature (that is, settlement is not planned or anticipated in the foreseeable future) between consolidated entities are not recognized in earnings, but are included as a component of other comprehensive income.

Cash and Cash Equivalents

Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions with original maturity of 90 days or less at the date of purchase which are unrestricted as to withdrawal and use. In addition, all highly liquid investments with original stated maturity of 90 days or less are classified as cash equivalents.

Restricted Cash

Restricted cash represents cash pledged to financial institutions as collateral for the Company’s bank loans. The restricted cash is not available for withdrawal or the Company’s general use until after the corresponding bank loans are repaid.

Investments

All highly liquid investments with original maturities of greater than 90 days but less than 365 days are classified as short-term investments which are stated at their approximate fair value.

The Company accounts for its investments in accordance with ASC 320, “Investments-Debt and Equity Securities” (“ASC 320”). The Company classifies the investments in debt and equity securities as “held-to-maturity”, “trading” or “available-for-sale”, whose classification determines the respective accounting methods stipulated by ASC 320. Dividend and interest income, including amortization of the premium and discount arising at acquisition, for all categories of investments in securities are included in earnings. Any realized gains or losses on the sale of the investments are determined on a specific identification method, and such gains and losses are reflected in the consolidated statements of comprehensive income (loss).

The securities that the Company has positive intent and ability to hold to maturity are classified as held-to-maturity securities and stated at amortized cost. For individual securities classified as held-to-maturity securities, the Company evaluates whether a decline in fair value below the amortized cost basis is other-than-temporary in accordance with the Company’s policy and ASC 320. If the Company concludes that it does not intend or is not required to sell an impaired debt security before the recovery of its amortized cost basis, the impairment is considered temporary and the held-to-maturity securities continue to be recognized at the amortized costs. When the Company intends to sell an impaired debt security or it is more likely than not that it will be required to sell prior to recovery of its amortized cost basis, an other-than-temporary impairment is deemed to have occurred. In these instances, the other-than-temporary impairment loss is recognized in the consolidated statements of comprehensive income (loss) equal to the entire excess of the debt security’s amortized cost basis over its fair value at the balance sheet date of the reporting period for which the assessment is made.

The securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities. Unrealized holding gains and losses for trading securities are included in earnings.

Investments not classified as trading or as held-to-maturity are classified as available-for-sale securities. Available-for-sale securities are reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive income (loss) in shareholders’ equity. Realized gains or losses are charged to earnings during the period in which the gain or loss is realized. An impairment loss on the available-for-sale securities are recognized in the consolidated statements of comprehensive income (loss) when the decline in value is determined to be other-than-temporary. No impairment loss was recognized for the year ended December 31, 2017.

In accordance with ASC 325 “Investments-Other”, for investments in an investee over which the Company does not have significant influence and which do not have readily determinable fair value, the Company carries the investment at cost and only adjusts for other-than-temporary declines in fair value and distributions of earnings that exceed the Company’s share of earnings since its investment. Management regularly evaluates the impairment of the cost method investments based on performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. An impairment loss is recognized in earnings equal to the excess of the investment’s cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of investment. An impairment loss of nil, US$2,232 and US$2,768 was recognized for the years ended December 31, 2015, 2016 and 2017, respectively.

Accounts Receivable and Allowance for Doubtful Accounts

The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances.

The Company considers many factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history and credit-worthiness. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted.

Funds Receivable

Funds receivable represents cash payment and collection through third-party payment service providers. The Company carefully considers and monitors the credit worthiness of the third-party payment service providers used.

An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Funds receivable balances are written off after all collection efforts have been exhausted. US$2,322 and nil allowance for doubtful accounts was provided for the funds receivable as of December 31, 2016 and 2017, respectively.

Commitment deposits

Commitment deposits represent cash paid to real estate developers for the right to provide sales agency services for their real estate projects. The commitment deposits are refundable at specified dates and are classified accordingly.

In accordance with relevant contract terms, in the event of default, the Company is normally entitled to collateral or other forms of security from the real estate developers, which it can then resell to recover its original commitment deposit. The Company’s recovery of its original commitment deposit is dependent on market conditions.

The Company considers many factors in assessing the collectability of commitment deposits, such as the age of the amounts due, the market value of collaterals, as well as the real estate developer’s payment history and credit-worthiness. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Commitment deposits are written off after all collection efforts have been exhausted.

Loans receivable

Loans receivable consists primarily of secured loans in the form of mortgage loans and unsecured loans to borrowers that have passed the Company’s credit assessment. Such amounts are recorded at the principal amount less impairment as of the balance sheet date. The loan periods extended by the Company to the borrowers generally range from 1 to 36 months.

An allowance for credit loss is recorded when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company assesses the allowance for credit loss related to loans receivable on a quarterly basis, either on an individual or collective basis. The Company considers various factors in evaluating loans receivable for possible impairment on an individual basis. These factors include the amount of the loan, historical experience, value of collateral, if any, credit quality and age of the receivables balances. Impairment is measured on an individual loan basis using either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is secured. The Company evaluates the remainder of its loans receivables portfolio for impairment on a collective basis in accordance with ASC 450-20, Loss Contingencies and records an allowance for credit loss at the portfolio segment level.

Loan principal and interest receivables are charged-off when the loan principal and interest receivables are deemed to be uncollectible. In general, loan principal and interest receivables are identified as uncollectible if any of the following conditions are met : 1) the borrower is dead, missing or incapacitate and there is no legal heir and presentee or the legal heir and presentee refuse to abide the contract; 2) identification of fraud, and the fraud is officially reported to and filed with relevant law enforcement departments; 3) outstanding amount following 180 days past due after all collection efforts based on management’s judgment.

In 2015, the Company entered into arrangements with third-party investors under which the Company sold its economic benefits in certain mortgage and unsecured loans receivable in exchange for cash, which is equivalent to the book value of such loans receivable. Sales of mortgage and unsecured loans receivable to investors are accounted for in accordance with ASC 860 “Transfers and Servicing” (“ASC 860”). The Company does not recognize any gain or loss from the sale of mortgage and unsecured loans receivable. The Company derecognizes the mortgage and unsecured loans receivable if (i) the mortgage and unsecured loans have been legally isolated from the Company; (ii) there are no constraints on investors to pledge or exchange the mortgage and unsecured loans; and (iii) the Company does not maintain effective control over the mortgage and unsecured loans. From June 2016, the Company stopped entering into these arrangements with third-party investors. The derecognized amount of loans receivable in which the Company retains continuing involvement as of December 31, 2015, 2016 and 2017 were US$37.87 million, nil and nil.

Property and Equipment, Net

Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows:

Category		Estimated Useful Life

Office equipment		5 years
Motor vehicles		5 years
Leasehold improvement		shorter of lease term or economic lives
Buildings		12 -38 years

Land is stated at cost and is not depreciated.

Construction in progress represents buildings and related premises under construction, which is stated at actual construction cost less any impairment loss. Construction in progress is transferred to the respective category of property and equipment when completed and ready for its intended use.

Interest associated with major development and construction projects is capitalized and included in the cost of the project. The capitalization of interest cease when the project is substantially completed or the development activity is suspended for more than a brief period. The amount to be capitalized is determined by applying the capitalization rate to the average amount of accumulated qualifying capital expenditures for assets under construction during the year.

Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extend the useful lives of property and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts, respectively, with any resulting gain or loss reflected in the consolidated statements of comprehensive income (loss).

Prepaid land lease payments under operating lease are initially stated at cost and subsequently recognized on the straight-line basis over the lease terms.

When the lease payments cannot be allocated reliably between the land and the buildings elements, the entire lease payments are included in the cost of the land and buildings as a finance lease in property, plant and equipment.

Land Use Rights

Land use rights are recorded at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated terms of the land use rights which are 40 -50 years.

Impairment of Long-Lived Assets

The Company evaluates its long-lived assets or asset Company with finite lives for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset Company may not be fully recoverable. When these events occur, the Company evaluates the impairment by comparing the carrying amount of the assets to future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Company recognizes an impairment loss based on the excess of the carrying amount of the asset group over its fair value, but not below the fair values of the individual long-lived assets within the asset group. No impairment charge was recognized for any of the years presented. Asset groups to be disposed of would be reported at the lower of the carrying amount or fair value less costs to sell, and no longer depreciated. The assets and liabilities of a disposal group classified as held for sale would be presented separately in the appropriate asset and liability sections of the consolidated balance sheets.

Fair Value of Financial Instruments

Financial instruments of the Company primarily include cash and cash equivalents, restricted cash, accounts receivable, commitment deposits, funds receivable, investments including cost method investments, fixed-rate time deposits, trading securities, available-for-sale securities, loans receivable, short-term and long-term loans, convertible senior notes (Note 14) and related derivative liabilities. As of December 31, 2016 and 2017, the carrying values of these financial instruments, other than the cost method investment, available-for-sale securities, long-term loans, convertible senior notes and related derivative liabilities, approximated their fair values due to the short-term maturity of these instruments. The available-for-sale securities and trading securities were recorded at fair value based on the quoted price in active markets as of December 31, 2016 and 2017. The carrying values of the long-term loans approximate their fair values, as the loans bear interest at rates determined based on the prevailing interest rates in the market. The convertible senior notes were recognized based on residual proceeds after allocation to the derivative liabilities at fair market value. The estimated fair values of the convertible senior notes based on a market approach were approximately US$225,186 and US$301,036 as of December 31, 2016 and 2017, respectively, and represents a Level 3 valuation in accordance with ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”). When determining the estimated fair value of the convertible senior notes, the Company used a commonly accepted valuation methodology and market-based risk measurements that are indirectly observable, such as credit risk. The fair value of the bifurcated derivative liabilities was insignificant for the years ended December 31, 2015, 2016 and 2017. The Company determined that it was not practicable to estimate the fair value of its cost method investments as of December 31, 2016 and 2017 and measures the cost method investment at fair value on a nonrecurring basis only if an impairment charge were to be recognized.

The Company applies ASC 820 in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements.

ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2- Include other inputs that are directly or indirectly observable in the marketplace.

Level 3- Unobservable inputs which are supported by little or no market activity.

ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

The Company measures its available-for-sale securities and trading securities at fair value using quoted prices from the active markets.

Assets measured at fair value on a recurring basis as of December 31, 2016 and 2017 are summarized below.

Fair Value Measurement as of December 31, 2016

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Unobservable
Inputs
(Level 3)

Fair Value at
December 31,
2016

US$

Available-for-sale securities

51,639

	Fair Value Measurement as of December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value at December 31, 2017
	US$		US$		US$		US$

Available-for-sale securities		52,283		318,065		-		370,348
Trading securities		15,833		-		-		15,833

Revenue Recognition

Revenues are derived from E-commerce services, marketing services, listing services, other value-added services and financial services. Revenues for each type of service sales are recognized only when the following criteria are met: (a) persuasive evidence of an arrangement exists; (b) price is fixed or determinable; (c) delivery of services has occurred; and (d) collectability is reasonably assured.

Listing Services

Listing services revenues consist of revenues derived from both basic listing services and special listing services.

The Company’s basic and special listing services are provided to agents, brokers, property developers, property owners, property managers and others seeking to sell or rent new or secondary residential and commercial properties.

(1)

Basic listing services

Basic listing services entitle customers to post and make changes to information for properties, home furnishings and other related products and services in a particular area on the website and mobile apps for a specified period of time, which typically range from one to 36 months, in exchange for a fixed fee. Written contracts, containing all significant terms, signed by the Company and its customers provide persuasive evidence of the arrangement. The amount of fee to be paid is not subject to change once the contract has been signed. The contracts generally do not contain any specific performance target or refund guarantee. Delivery of services occurs by making access to the websites and mobile apps available for posting by the customers over the specified listing period. The Company performs credit assessments of its customers prior to signing the written contract to ensure collectability is reasonably assured. In accordance with ASC 605, revenues are recognized ratably over the duration of the service period as the basic listing services are being delivered.

(2)

Special listing services

Special listing services consist of promotional activities associated with themed marketing campaigns, each generally over a one year duration and designed to recognize the leading companies within a specific real estate sector. For each special listing campaign, targeted leading companies participate in a collective marketing and promotional program for a specified fee, consisting of various online and offline promotional activities tied to the specialized theme of the campaign. Each revenue arrangement may include one or multiple special listing campaigns.

The Company evaluates its special listing revenue arrangements in accordance with ASC 605-25, “Revenue recognition–Multiple-element arrangements”. The promotional services within a special listing program are accounted for as one combined unit of accounting, as each promotional deliverable does not have standalone value to the customer since all the deliverables are tied to the specialized theme of the campaign, and are not sold separately. For contractual arrangements that contain multiple special listing campaigns, the program for each campaign is accounted for as a separate unit of accounting. ASC 605-25 requires revenues to be allocated to each unit of accounting on a relative fair value basis based on a selling price hierarchy. The selling price for a deliverable is based on vendor-specific objective evidence (“VSOE”) if available, third party evidence (“TPE”) if VSOE is not available, or best estimate of selling price (“BESP”) if neither VSOE nor TPE is available. The Company allocates total arrangement consideration to each unit of accounting based on its relative selling price, which is determined based on its BESP for that deliverable since neither VSOE nor TPE exist. In determining the BESP for each deliverable, the Company considers its overall pricing model and objectives when sold separately, as well as market or competitive conditions that may impact the price at which the Company would transact if the deliverable were sold regularly on a standalone basis. We monitor the conditions that affect its determination of selling price for each deliverable and reassess such estimates periodically. In accordance with ASC 250, “Accounting Changes and Error Corrections,” changes in the determination of the BESP are considered a change in accounting estimate and are accounted for on a prospective basis. The effect of changes in the BESP on the allocation of arrangement consideration was insignificant for all periods presented.

Written contracts, containing all significant terms, signed by the Company and its customers provide persuasive evidence of the arrangement. The amount of fee to be paid is not subject to change once the contract has been signed. The contracts do not contain any specific performance, cancellation, termination or refund provisions. The Company performs credit assessments of its customers prior to signing the written contract to ensure collectability is reasonably assured. In accordance with ASC 605, “Revenue Recognition,” revenues are recognized ratably over the duration of the campaign period as the special listing services are being delivered.

Marketing Services

The Company offers marketing services on the Company’s websites and mobile apps, primarily through banner advertisements, floating links, logos and other media insertions. These marketing services are offered to real estate developers and to a lesser extent provider of products and services for home decoration and improvement. Marketing services allow customers to place advertisements on particular areas of the Company’s websites and mobile apps, in particular formats and over particular periods of time. Written contracts, containing all significant terms, signed by the Company and its customers provide persuasive evidence of the arrangement. The contracts generally do not contain any specific performance target or refund guarantee.

The service fee is negotiated between the customer and the Company but once a price is agreed to and the written contract is signed by both parties, the price is fixed and not subject to change. The service fee is due and payable in installments over the service period. The marketing services typically last from several days to one year. Delivery of the service occurs upon displaying the agreed forms of services on the Company’s websites and mobile apps over the specified service period. The Company performs credit assessments on its customers prior to signing the written contract to ensure collectability is reasonably assured. Revenues are recognized ratably over the contract period, as there is persuasive evidence of an arrangement, the fee is fixed or determinable and collection is reasonably assured, as prescribed by ASC 605.

Beginning in 2015, the Group began to enter into marketing service agreements with certain real estate developers, where the Company may elect to collect the contractually stated marketing service fee in the form of (i) a designated real estate property, if transferred to the Company or sold to a third-party buyer designated by the Company prior to a pre-determined date, which typically falls at the end of the marketing service period, or (ii) cash, if the Company elects not to take the designated real estate property as settlement consideration by the pre-determined date. The Company determines the contractually stated marketing service fee under the new payment arrangements with reference to the cash price of the comparable services offered by the Company under the sole cash payment arrangements. The designated real estate property is typically a specifically identified residential unit within a residential community developed by the real estate developer and its fair value is generally commensurate with the contractually stated marketing service fee as of the date of the marketing service agreement. If the Company elects settlement through the sale of the designated real estate property to a third-party buyer, the Company is entitled to retain the entire sales proceeds. In this scenario, the Company has the sole discretion in setting the sales price of the designated real estate property to the third-party buyer but has no incentive to permit such real estate property to be sold at a price lower than the contractually stated marketing service fee, which serves as a de-facto minimal selling price, because the Company would instead accept the cash payment of the stated marketing service fee. Prior to the pre-determined date, the real estate developer is obligated not to sell, encumber or otherwise dispose of the designated real estate property without the consent of the Company.

Under these arrangements, the Company initially recognizes the marketing service revenue up to the amount of the contractually stated marketing service fee. Any excess is contingent upon the sale of the designated real estate properties and is accounted for as contingent marketing service revenues, if and when the sale is consummated and all other revenue recognition criteria are met. For the years ended December 31, 2015, 2016 and 2017, the Company recognized marketing service revenue of US$52,000, US$9,730 and nil under such arrangement. Since 2016, the Company ceased entering into these arrangements with real estate developers and collected all the marketing service fees in the form of (i) cash, or (ii) a designated real estate property transferred to the Company, from real estate developers.

Instead, the Company began to provide marketing services whereby the sole consideration for the services is in the form of a specifically identified unit of a development. The Company accounts for these arrangements pursuant to ASC 845, Nonmonetary transactions, and have determined that the fair value of consideration received, i.e. the specifically identified real estate property, is more readily determinable than the marketing services surrendered. Accordingly, the fair value of property is used for measurement and revenues are recognized ratably over the service period. Revenue recognized under such arrangement was nil, US$728 and US$1,361 or the years ended December 31, 2015, 2016 and 2017.

For certain arrangements, the Company provides marketing services that contain multiple deliverables, that is, different forms of services to be delivered over different periods of time.

The Company accounts for each deliverable in the arrangement as separate unit of accounting. Revenues are allocated to each unit of accounting on a relative fair value basis based on a selling price hierarchy and is recognized ratably over the duration of the service period. The selling price for a deliverable is based on its vendor-specific objective evidence (“VSOE”) if available, third party evidence (“TPE”) if VSOE is not available, or BESP if neither VSOE nor TPE is available. The total arrangement consideration is allocated to each unit of accounting based on its relative selling price which is determined based on the Company’s BESP for that deliverable because neither VSOE nor TPE exist. In determining its BESP for each deliverable, the Company considered its overall pricing model and objectives, as well as market or competitive conditions that may impact the price at which the Company would transact if the deliverable were sold regularly on a standalone basis. The Company monitors the conditions that affect its determination of selling price for each deliverable and reassesses such estimates periodically.

E-Commerce Services

E-commerce service revenues consist of revenues derived from:

(1) Fang membership services

The Company enters into arrangements with real-estate developers, pursuant to which the Company charges its customers RMB5,000 to RMB20,000 in order for them to purchase specified properties from the real estate developers at a discount significantly greater than the face value of the fees charged by the Company. The discount is either a fixed amount off or a fixed percentage to the price of the specified property. The fees paid by the customers to the Company are refundable before a purchase of the specified properties at a discount is made by the customers or if after the purchase, only if the customers can fulfil certain requirements under the refund policy. The Company chooses to analogize to rights of return guidance in ASC 605-15 when accounting for refundable fees as reliable estimates of refunds can be made based on company-specific historical evidence. Revenues are recognized by the Company when cash consideration of the fees is received and the discount has been applied by the customers to pay for the purchase price of the specified properties, net of estimated refunds. Cash received in advance of the purchase of specified properties and provision for refunds are recorded as “customers’ refundable fees” (Note 13). The provision of refunds was insignificant for the years ended December 31, 2015, 2016 and 2017.

Additionally, the Company, real-estate developers and marketing agencies entered into tri-party cooperation arrangements for certain Fang membership services. When customers use their Fang membership cards to purchase specified properties in selected advertisements published by the marketing agents, a portion of the proceeds from the Fang membership services is remitted to the marketing agents. The Company recognized revenues from this type of Fang membership services on a net basis, representing the portion of proceeds received from customers that is ultimately retained by the Company as it is an agent in the arrangement. Commencing in 2014, the Company also entered into cooperation arrangements directly with real-estate developers for Fang membership services. The Company either engages third-party real estate agents or places advertisements with marketing agents to promote the real-estate projects. The Company recognized revenues from this type of Fang membership services on a gross basis, representing the proceeds received from the real-estate developers, as the Company is the primary obligor in the arrangement. Payments to third-party real estate agents are recorded as cost of sales, while payments to marketing agents are recorded as selling expenses. The portion to be remitted to third-party real estate agents and marketing agents is recorded as amounts payable to sales and marketing agents in “accrued expenses and other liabilities” on the consolidated balance sheets (Note 12).

(2) Direct sales services

The Company promotes property developments of its developer clients primarily through its websites and mobile applications (“mobile apps”). Potential buyers can register with the Company free of charge if they are interested in any real estate properties covered by its direct sales services. After the registration, the Company provides the buyers with additional information about the properties and related services, such as tours to visit the property developments and other services to facilitate property purchases. By using the direct sales services, individual buyers can enjoy discounted prices for properties that the Company offers from its developer clients. The Company charges its developer clients a fee for each property it sold through its direct sales services at a predetermined percentage of the value of the individual transaction. Thereafter, the real estate developers can request for refund only if they can fulfil certain requirements under the refund policy. The Company chooses to analogize to rights of return guidance in ASC 605-15 when accounting for refundable fees as reliable estimates of refunds can be made based on company-specific historical evidence. Revenues are recognized by the Company based on total of successful purchase transactions made, net of estimated refunds. The provision of refunds was insignificant for the years ended December 31, 2015, 2016 and 2017.

(3) Sublease services

Beginning in 2015, the Company began to provide sublease service through its websites. The Company identifies suitable properties and initially enters into lease agreements with the property owners. The lease agreements allow the Company to sublease the properties. Regardless whether the leased property is subsequently sub-leased by the Company, the lease agreement between the Company and the property owner remains in effect, including the Company’s obligation to make fixed rental payments over the non-cancellable lease term. The property owner is not a party to, and therefore not entitled to, any rights or obligations under the sublease agreement. Sublease rental income is recorded as revenue from subleasing services and recognized on a gross basis as the Company is the principal to the sublease arrangements. The sublease income is recognized on a straight-line basis over the lease term.

Sublease rental income for the year ended December 31, 2016 and 2017 was US$31,929, and US$15,085 respectively. Future minimum sublease rental incomes expected to be received under noncancellable sublease agreements as of December 31, 2017are as follows:

	US$

2018		5,668
2019		150
2020		21
2021		1
2022 and thereafter		-

		5,840

(4) Real estate online brokerage services

Commencing in 2015, the Company provided brokerage services for sellers and buyers of secondary properties. Brokerage services may include property listing services, advisory services, transaction negotiation services and administration services. In addition to secondary property sales, the Company also assists property owners and potential tenants with leasing transactions. Commission revenues derived from brokerage services is recognized upon the execution, fulfillment of all performance obligations specified on the tri-party transaction agreement that is entered into between the seller, buyer and the Company in its capacity as broker, and cash receipt.

(5) Online decoration services

Beginning in 2015, the Company launched online decoration services, which includes interior design, remodeling, renovation, furnishing and other home improvement services. The Company generally charges the customers a fixed fee. The Company recognizes revenues based on the percentage-of-completion method and measures progress using input measures, i.e., cost-to-cost, in accordance with ASC 605-35, “Revenue Recognition Construction-Type and Production-Type Contracts.” Estimated losses, if any, are recognized during the period in which the loss becomes probable and reasonably estimable.

Financial Services

Financial services are provided through the Company’s online financial platform www.fangtx.com and offline micro loan subsidiaries. The Company provides secured loans in the form of entrusted loans, mortgage loans and unsecured loans, primarily to borrowers that meet the Company’s credit assessment requirements. The Company ceased to provide entrusted loans since 2017. Revenues derived from loan interest income and annual service fees are recognized using the effective interest rate method. The Company does not accrue interest on loans receivable that are considered impaired or more than 90 days past due unless either the receivable has not been collected due to administrative reasons or the receivable is well secured and in the process of collection. Unsecured loans stop accruing interest when 60 days past due and are classified as impaired loan.

Other Value-added Services

The Company generates revenues from other value-added services including subscription services for access to the Company’s information database and consulting services for customized and industry-related research reports and indices. Revenues derived from subscription services for access to the Company’s information database are recognized ratably over the subscription period. Revenues derived from consulting services for customized and industry-related research reports and indices are recognized when the relevant services are completed.

The Company’s business is subject to VAT, surcharges or cultural construction fees levied on advertising-related sales in the PRC. In accordance with ASC 605-45, “Revenue Recognition-Principal Agent Considerations”, all such VAT, surcharges and cultural construction fees are presented as cost of revenues in the consolidated statements of comprehensive income (loss). VAT, surcharges and cultural construction fees for the years ended December 31, 2015, 2016 and 2017were US$48,253 and US$68,007 and US$33,320, respectively.

All service fees received in advance of the provision of services are initially recorded as deferred revenues and subsequently recognized as revenues when the related services are performed by the Company.

Cost of Revenues

Cost of revenues consists of employee costs, VAT and surcharges, rental costs incurred in relation to sublease services, labor and decoration material costs related to online decoration services, server and bandwidth leasing fees, payments to third-party real estate agents and other direct costs incurred in providing the related services. These costs are expensed when incurred.

Advertising Expenses

Advertising expenses are expensed when incurred and are included in selling expenses in the consolidated statements of comprehensive income (loss). For the years ended December 31, 2015, 2016 and 2017, the advertising expenses were US$44,123, US$61,762 and US$16,869, respectively.

Leases

Leases are classified at the inception date as either a capital lease or an operating lease. A lease is a capital lease if any of the following conditions exists: (a) ownership is transferred to the lessee by the end of the lease term, (b) there is a bargain purchase option, (c) the lease term is at least 75% of the property’s estimated remaining economic life or (d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was an acquisition of an asset and an incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases wherein rental payments are expensed as incurred. The Company had no capital leases for any of the years presented.

Income Taxes

The Company follows the liability method of accounting for income taxes, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and attributable to operating loss and tax credit carryforwards, if any. The Company reduces the carrying amounts of deferred tax assets by a valuation allowance, if based on the available evidence, it is “more-likely-than-not” that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed at each reporting period based on a “more-likely-than-not” realization threshold. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of futures profitability, the duration of statutory carryforward periods, the Company’s experience with operating loss and tax credit carryforwards, if any, not expiring.

The Company applies ASC 740, “Income taxes” (“ASC 740”), to account for uncertainties in income taxes. In accordance with the provisions of ASC 740, the Company recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is “more-likely-than-not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more-likely-than-not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement.

The Company’s estimated liability for unrecognized tax benefits, which is included in “accrued expenses and other liabilities”, is periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statutes of limitation. The outcome for a particular audit cannot be determined with certainty prior to the conclusion of the audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Company’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Company’s financial statements. Additionally, in future periods, changes in facts, circumstances, and new information may require the Company to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which the changes occur.

Interest and penalties arising from underpayment of income taxes are computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive income (loss) as income tax expense.

Government Grants

Government grants primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government grants, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government grants of non-operating nature with no further conditions to be met are recorded as non-operating income in “Other income, net” when received. The government grants with certain operating conditions are recorded as liabilities when received and will be recorded as operating income when the conditions are met. For the years ended December 31, 2015, 2016 and 2017, US$4,936 and US$6,469, US$3,154 respectively, of government grants were recognized as non-operating income.

Share-based Compensation

The Company’s employees and directors participate in the Company’s share-based award incentive plan which is more fully discussed in Note 17. The Company applies ASC 718, “Compensation-Stock Compensation” (“ASC 718”), to account for its employee share-based payments. There were no share-based payments made to non-employees for any of the years presented.

In accordance with ASC 718, the Company determines whether a share option should be classified and accounted for as a liability award or an equity award. All grants of share-based awards to employees classified as equity awards are recognized in the financial statements based on their grant date fair values which are calculated using an option pricing model. All grants of share-based awards to employees and directors classified as liabilities are remeasured at the end of each reporting period with an adjustment for fair value recorded to the current period expense in order to properly reflect the cumulative expense based on the current fair value of the vested rewards over the vesting periods. The Company has elected to recognize compensation expense using the straight-line method for all employee equity awards granted with graded vesting based on service conditions, which were not subject to performance vesting conditions.

Meanwhile, the Company uses the accelerated attribution method for equity awards with performance conditions on a tranche-by-tranche basis based on the probable outcome of the performance conditions. To the extent the required vesting conditions are not met resulting in the forfeiture of the share-based awards, previously recognized compensation expense relating to those awards is reversed. With effect from January 1, 2017, forfeitures are recognized when they occur.

Cancellation of an award accompanied by the concurrent grant of a replacement award is accounted for as a modification of the terms of the cancelled award (“modified awards”). The compensation costs associated with the modified awards are recognized if the new vesting condition is achieved. Total recognized compensation cost for the awards is at least equal to the fair value of the awards at the grant date unless at the date of the modification the performance or service conditions of the original awards are not expected to be satisfied. The incremental compensation cost is measured as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. Therefore, in relation to the modified awards, the Company recognizes share-based compensation over the vesting periods of the replacement award, which comprises, (i) the amortization of the incremental portion of share-based compensation over the remaining vesting term and (ii) any unrecognized compensation cost of the original award over the original term.

In March 2016, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard update on simplifying the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance also allows an entity to account for forfeitures when they occur. This guidance became effective for reporting periods beginning after December 15, 2016. The Company adopted this new guidance on January 1, 2017. In prior years, excess tax benefits were recognized in additional paid-in capital; tax deficiencies were recognized either as an offset to accumulated excess tax benefits, if any, or in the consolidated statement of comprehensive income. Excess tax benefits were not recognized until the deduction reduces taxes payable. Upon adoption, all excess tax benefits and tax deficiencies are recognized as income tax expense or benefit in the consolidated statement of comprehensive income. This change was adopted prospectively and did not have a material impact on the Group’s consolidated financial statements. The Company also recognized excess tax benefits regardless of whether the benefits reduces income tax payable in the current period and elected to account for forfeitures as they occur, rather than estimate expected forfeitures. These changes were adopted on a modified retrospective basis, and resulted in no material cumulative effect adjustment to retained earnings.

Earnings per Share

The Company computes earnings per Class A and Class B ordinary shares in accordance with ASC 260, “Earnings Per Share” (“ASC 260”), using the two class method. Under the provisions of ASC 260, basic net income per share is computed using the weighted average number of ordinary shares outstanding during the period except that it does not include unvested ordinary shares subject to repurchase or cancellation. Diluted net income per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potentially dilutive securities have been excluded from the computation of diluted net income per share if their inclusion is anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of stock options, contracts that may be settled in the Company’s stock or cash and the conversion of the convertible senior notes. The dilutive effect of outstanding stock options and convertible senior notes is reflected in diluted earnings per share by application of the treasury stock method and the if-converted method, respectively. The computation of the diluted net income per share of Class A ordinary shares assumes the conversion of Class B ordinary shares, while the diluted net income per share of Class B ordinary shares does not assume the conversion of those shares.

The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting. The Class B ordinary shareholders do not have the legal ability to cause the Company’s board of directors to declare unequal dividends to the holders of Class A and Class B ordinary shares. As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B ordinary shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Further, as the conversion of Class B ordinary shares is assumed in the computation of the diluted net income per share of Class A ordinary shares, the undistributed earnings are equal to net income for that computation. For the purposes of calculating the Company’s basic and diluted earnings per Class A and Class B ordinary shares, the ordinary shares relating to the options that were exercised are assumed to have been outstanding from the date of exercise of such options.

Derivative Instruments

ASC 815, “Derivatives and Hedging”, requires all contracts which meet the definition of a derivative to be recognized on the balance sheet as either assets or liabilities and recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically in earnings or in other comprehensive income (loss) depending on the use of the derivative and whether it qualifies for hedge accounting. Changes in fair values of derivatives not qualified as hedges are reported in earnings. The estimated fair values of derivative instruments are determined at discrete points in time based on the relevant market information. These estimates are calculated with reference to the market rates using industry standard valuation techniques. The fair value of the derivative instruments held by the Company was insignificant for all of the years presented.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. Accumulated other comprehensive income (loss), as presented on the consolidated balance sheets, includes (i) the cumulative foreign currency translation adjustments, (ii) unrealized gain (loss) on available-for-sale securities, and (iii) gains and losses on intra-entity foreign currency transactions that are of a long-term-investment nature (that is, settlement is not planned or anticipated in the foreseeable future) between consolidated entities.

Contingencies

The Company records accruals for certain of its outstanding legal proceedings or claims when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if it is material.

When a loss contingency is not both probable and estimable, the Company does not record an accrued liability but discloses the nature and the amount of the claim, if material. However, if the loss (or an additional loss in excess of the accrual) is at least reasonably possible, then the Company discloses an estimate of the loss or range of loss, if such estimate can be made and material, or states that such estimate is immaterial if it can be estimated but immaterial, or discloses that an estimate cannot be made. The assessments of whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involve complex judgments about future events. Management is often unable to estimate the loss or a range of loss, particularly where (i) the damages sought are indeterminate, (ii) the proceedings are in the early stages, or (iii) there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including eventual loss, fine, penalty or business impact, if any.

Recent accounting pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 supersedes the revenue recognition requirements in ASC topic 605, and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. This update also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. ASU 2014-09 is originally effective for the annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. ASU No. 2015-14, “Revenue from Contracts with Customers” (“ASU 2015-14”), defers the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted to the original effective date. The Company will adopt the new revenue standard effective on January 1, 2018, using the modified retrospective method. The cumulative effect of initially applying the new standard will be recognized on the day of initial application and prior periods will not be retrospectively adjusted.

The Company is in the process of finalizing its assessment of the impact of the new revenue standard on its primary sources of revenues, as well as the design and implementation of relevant controls to the Company’s financial reporting process.

As a result of the assessment, the Company expects the key impacts from the adoption of the new revenue standard with respect to its primary sources of revenues as follows:

• The Company’s revenues will be presented net of value-added tax collected on behalf of third parties, which are currently presented in cost of revenues.

• The Company currently assesses whether collectability is reasonably assured at the outset of the arrangement, and subsequently reassessed if there is a substantive change in facts and circumstances. If the collectability of all or a portion of the fee is not reasonably assured, all revenue recognition are deferred until payment is received (assuming all of the other revenue recognition criteria have been met). Under the new revenue standard, no revenue will be recognized until it is probable that the Company will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. The assessment is based on whether the customer has the ability and intention to pay the consideration. In cases in which the contract does not meet this criteria for revenue recognition, the Company will recognize nonrefundable consideration received as revenue only when one of the following has occurred:

• the Company has fully performed and substantially all of the consideration has been received;

• the contract has been terminated; or

• the Company has transferred control of the goods or services and has stopped transferring (and has no obligation under the contract to transfer) additional goods or services to the customer, if applicable.

Until one of these events happens, any consideration received form the customer is initially recorded as a liability.

• The Company’s current policy is to require written contracts with its customers as persuasive evidence of its revenue arrangements. In certain cases where services are being delivered prior to the receipt of the signed contracts, the revenue is currently deferred until such time the final signed contracts are collected. Under the new revenue standard, revenues may be recognized prior to the receipt of the signed contracts (assuming all other revenue recognition criteria are satisfied), as contracts may be written, oral, or implied based an entity’s customary business practices, so long as they are legally enforceable.

In January 2016, the FASB issued ASU No. 2016-01 (“ASU 2016-01”), Financial Instruments. ASU 2016-01 requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. An entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt the new standard effective January 1, 2018. The adoption of ASU 2016-01 will increase the volatility of the Company’s non-operating income, resulting from the remeasurement of equity investments. The Company currently expects the impact from adoption to be a reclassification of the unrealized gain on available-for-sale securities of US$163,785 reported in accumulated other comprehensive income to retained earnings at the date of adoption.

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires lessees to recognize the rights and obligations resulting from leases as assets and liabilities. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company expects the impact of the adoption of ASU 2016-02 is a gross up of assets and liabilities on the consolidated balance sheet.

In June 2016, the FASB issued ASU No. 2016-13 (“ASU 2016-13”), Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. ASU 2016-13 changes the impairment model for most financial assets and certain other instruments. The standard will replace “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For available-for-sale debt securities, entities will be required to record allowances rather than reduce the carrying amount, as they do today under the other-than-temporary impairment model. The standard is effective for public business entities for annual periods beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 reduces the existing diversity in practice in financial reporting across all industries by clarifying certain existing principles in ASC topic 230, Statement of Cash Flows (“ASC 230”), including providing additional guidance on how and what an entity should consider in determining the classification of certain cash flows. The amendments are effective for public business entities for interim periods and fiscal years beginning after December 15, 2017. The adoption of this guidance is not expected to have a material impact on the Group’s consolidated financial statements.

In addition, in November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (“ASU 2016-18”). ASU 2016-18 clarifies certain existing principles in ASC 230, including providing additional guidance related to transfers between cash and restricted cash and how entities present, in their statement of cash flows, the cash receipts and cash payments that directly affect the restricted cash accounts. The amendments are effective for public business entities for interim periods and fiscal years beginning after December 31, 2017. Early adoption is permitted. The amendments should be applied retrospectively to each period presented. The adoption of these amendments will impact the presentation and classification of restricted cash in the Group’s consolidated statements of cash flows.

CONCENTRATION OF RISKS

12 Months Ended

Dec. 31, 2017

Risks and Uncertainties [Abstract]

CONCENTRATION OF RISKS

3.	CONCENTRATION OF RISKS

Concentration of Credit Risk

Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, fixed-rate time deposits classified as short-term investments, accounts receivable, funds receivable, loans receivable and commitment deposits. As of December 31, 2017, the Company had US$507,079 in cash and cash equivalents, restricted cash (current) and short-term investments, 95.5% and 4.5% of which were held by financial institutions in the PRC and financial institutions outside of the PRC, respectively. Under PRC law, it is generally required that a commercial bank in the PRC that holds third-party cash deposits protect the depositors’ rights and interests over their deposited money; PRC banks are subject to a series of risk control regulatory standards; and PRC bank regulatory authorities are empowered to take over the operation and management of any PRC bank that faces a material credit crisis. In the event of bankruptcy of one of the financial institutions in which the Company has deposits or investments, it may be unlikely to claim its deposits or investments back in full. The Company selected reputable financial institutions with high credit ratings to deposit its assets. The Company regularly monitors the ratings of the financial institutions in case of any defaults. There has been no recent history of default in relation to these financial institutions.

Accounts receivable are typically unsecured and are derived from revenue earned from customers in the PRC. The risk with respect to accounts receivable is mitigated by credit evaluations the Company performs on its customers and its ongoing monitoring of outstanding balances. The Company regularly reviews the creditworthiness of its customers, and requires collateral from its customers in certain circumstances when accounts receivables become long overdue.

Funds receivable represent amounts due from third-party payment service providers. The Company carefully considers and monitors the credit worthiness of the third-party payment service providers to mitigate any risks associated with funds receivable.

The Company is exposed to default risk on its loans receivable. The Company assesses the allowance for credit loss related to loans receivable on a quarterly basis, either on an individual or collective basis. As of December 31, 2017, no single borrower comprised a significant portion of the Company’s loan portfolio.

The Company regularly reviews the creditworthiness of real estate developers, and requires collateral from real estate developers in certain circumstances when commitment deposits become overdue.

Concentration of Customers

There were no revenues from customers which individually represented greater than 10% of the total revenues for any of the years ended December 31, 2015, 2016 and 2017.

Current Vulnerability Due to Certain Other Concentrations

The Company’s operations may be adversely affected by significant political, economic and social uncertainties in the PRC. Although the PRC government has been pursuing economic reform policies for more than 30 years, no assurance can be given that the PRC government will continue to pursue such policies or that such policies may not be significantly altered, especially in the event of a change in leadership, social or political disruption or unforeseen circumstances affecting the PRC’s political, economic and social conditions. There is also no guarantee that the PRC government’s pursuit of economic reforms will be consistent or effective.

The Company almost transacts all of its business in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the People’s Bank of China (the “PBOC”). However, the unification of the exchange rates does not imply that the RMB may be readily convertible into United States dollars or other foreign currencies. All foreign exchange transactions continue to take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC.

Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Additionally, the value of the RMB is subject to changes in central government policies and international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market.

Internet and advertising related businesses are subject to significant restrictions under current PRC laws and regulations. Specifically, foreign investors are not allowed to own more than a 50% equity interest in any ICP business. In 2016, a foreign invested entity mainly owned and ultimately controlled by our WFOE obtained the ICP to operate www.fang.com.

The Company conducts its operations in the PRC through contractual arrangements entered into between the WOFEs and the PRC Domestic Entities. The relevant regulatory authorities may find the current contractual arrangements and businesses to be in violation of any existing or future PRC laws or regulations. If the Company or any of its current or future PRC Domestic Entities or subsidiaries are found in violation of any existing or future laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant regulatory authorities would have broad discretion in dealing with such violations, including levying fines, confiscating the income of WOFEs, PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries, revoking the business licenses or operating licenses of WOFEs, PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries, shutting down the Company’s servers or blocking the Company’s websites, discontinuing or placing restrictions or onerous conditions on the Company’s operations, requiring the Company to undergo a costly and disruptive restructuring, or enforcement actions that could be harmful to the Company’s business. Any of these actions could cause significant disruption to the Company’s business operations and severely damage the Company’s reputation, which would in turn materially and adversely affect the Company’s business and results of operations. In addition, if the imposition of any of these penalties causes the Company to lose the rights to direct the actives of PRC Domestic Entities or the Company’s right to receive their economic benefits, the Company would no longer be able to consolidate the PRC Domestic Entities.

In addition, if the WOFEs, PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries or their shareholders fail to perform their obligations under the Contractual Agreements, the Company may have to incur substantial costs and expend resources to enforce the Company’s rights under the contracts. The Company may have to rely on legal remedies under PRC law, including seeking specific performance or injunctive relief and claiming damages, which may not be effective. All of these Contractual Agreements are governed by PRC law and provide for the resolution of disputes through arbitration in the PRC. Accordingly, these contracts would be interpreted in accordance with PRC law and any disputes would be resolved in accordance with the PRC legal procedures. The legal system in the PRC is not as developed as in other jurisdictions, such as the United States. As a result, uncertainties in the PRC legal system could limit the Company’s ability to enforce these Contractual Agreements. Under PRC law, rulings by arbitrators are final, parties cannot appeal the arbitration results in courts, and prevailing parties may only enforce the arbitration awards in PRC courts through arbitration award recognition proceedings, which would incur additional expenses and delay. In the event the Company is unable to enforce these Contractual Agreements, the Company may not be able to exert effective control over its PRC Domestic Entities, and the Company’s ability to conduct its business may be negatively affected.

The Company believes that its corporate structure and Contractual Agreements of the Company’s PRC Domestic Entities and WFOEs in China are in compliance with all existing PRC laws and regulations. Therefore, in the opinion of management, (i) the ownership structure of the Company and the PRC Domestic Entities are in compliance with existing PRC laws and regulations; (ii) the Contractual Agreements with PRC Domestic Entities and their nominee shareholder are valid and binding, and will not result in any violation of PRC laws or regulations currently in effect; and (iii) the Company’s business operations are in compliance with existing PRC law and regulations in all material respects.

INVESTMENTS

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

4.	INVESTMENTS

Short-term investments and long-term investments consisted of the following:

	As of December 31,
	2016		2017
	US$		US$
Short-term investments
Trading securities		-		15,833
Fixed-rate time deposits		42,929		39,968
		42,929		55,801

Long-term investments:
Available-for-sale securities:
- Color Life Service Group ("Color Life")		20,606		4,554
- Hopefluent Group Holdings Limited ("Hopefluent")		31,033		47,729
- Shenzhen World Union Properties Consultancy Co., Ltd. ("World Union")		-		318,065
		51,639		370,348
Cost method investments:
- Shenzhen World Union Properties Consultancy Co., Ltd. ("World Union")		107,088		-
- Sindeo, Inc. ("Sindeo")		2,768		-
- Guilin Bank		12,173		38,817
- Xian Chuangdian Quancheng Real Estate Consultant Limited (“Chuangdian”)		3,294		3,498
- Tospur Real Estate Consulting Co., Ltd. ("Tospur")		54,918		58,301
		180,241		100,616

		231,880		470,964

As of December 31, 2016 and 2017, the Company held fixed-rate time deposits purchased from commercial banks and financial institutions with maturities of less than one year.

In October 2017, of the Company invested US$15,299 in PRC mutual funds, which were classified as trading securities as they were held principally for the purpose of selling in the near term. As of December 31, 2017, the market price increases to US$15,833 and an unrealized gain of US$518 was included in earnings.

Interest income on the fixed-rate time deposits of US$9,474, US$11,367 and US$11,322 were recognized for the years ended December 31, 2015, 2016 and 2017, respectively.

Dividends from the long-term investments US$1,333, US$3,281 and US$6,692 were recognized as investment income in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2015, 2016 and 2017, respectively.

On June 27, 2014, the Company acquired 27,551,733 shares of Color Life, a Hong Kong listed company, for US$13,583. The investment constituted a 2.76% ownership in Color Life and was classified as an available-for-sale security. As of December 31, 2016, the market price declined to US$20,606 (December 31, 2015: US$23,703) and an unrealized loss of US$3,097 was recorded in other comprehensive income (loss) for the year ended December 31, 2016. In 2017, the Company sold 20,705,000 shares for a total consideration of US$12,317, and recognized a gain of US$2,110 in the consolidated statements of comprehensive income (loss). As of December 31, 2017, the market price of the remaining shares declined to US$4,554. Total fair value decrease of US$3,735 was recorded in other comprehensive income (loss) and US$2,110 gain related to the sale was reclassified out of accumulated other comprehensive income for the year ended December 31, 2017.

In November 2014, the Company acquired an aggregate of 111,935,037 shares of Hopefluent, a Hong Kong listed company, for US$43,361. The investment constituted a 17.26% ownership in Hopefluent and was classified as an available-for-sale security. As of December 31, 2016, the market price declined to US$31,033 (December 31, 2015: US$31,339) and an unrealized loss of US$306 was recorded in other comprehensive income (loss) for the year ended December 31, 2016. In 2017, the Company sold 3,164,000 shares for a total consideration of US$1,614, and recognized a gain of US$626 in the consolidated statements of comprehensive income (loss). As of December 31, 2017, the market price of the remaining shares increased to US$47,729. Total fair value increase of US$18,309 was recorded in other comprehensive income and US$626 gain related to the sale was reclassified out of accumulated other comprehensive income for the year ended December 31, 2017.

On May 29, 2015, the Company acquired an aggregate of 145,376,744 shares of World Union, a PRC listed company, at a total consideration of US$121,393. The investment constituted a 10.06% ownership in World Union. The investment in World Union was classified as a cost method investment upon acquisition, as the Company could not freely sell the shares due to a lock-up provision of 36 months. On April 8, 2016, World Union declared a stock dividend whereby four shares were distributed to shareholders for every ten shares held. As a result, the Company’s shareholding increased from 145,376,744 shares to 203,527,442 shares. As of December 31, 2017, as the lock-up restriction will terminate within one year, the classification of the investment changed from a cost method to an available for sale security, and the fair value of the investment was measured based on the market price, adjusted for the effect of the remaining restriction, in accordance with ASC 820. As of December 31, 2017, the fair value of World Union was US$318,065 and US$198,264 and the related tax effect of US$49,566 were recorded in other comprehensive income for the year ended December 31, 2017. As of December 31, 2017, the investment constituted a 9.96% ownership in World Union.

On October 29, 2015, the Company acquired 11.03% of the share capital of Sindeo, a non-listed company, for US$5,000. The investment in Sindeo was classified as a cost method investment, as the Company does not have significant influence over Sindeo and because there is no readily determinable fair value. During the year ended December 31, 2016 and 2017, the impairment loss of US$2,232 and US$2,768, respectively, was recorded in the statement of comprehensive income (loss) as Sindeo’s financial condition had deteriorated as evidenced by significant operating losses.

On July 12, 2016, 30,595,859 shares of Guilin Bank, a PRC non-listed company, was transferred by a third-party to repay a portion of its overdue receivables of US$12,173 owed to the Company. The investment constituted a 1.02% ownership in Guilin Bank. The investment was classified as a cost method investment, as the Company does not have significant influence over Guilin Bank and because there is no readily determinable fair value. On September 25, 2017, additional 42,834,202 shares of Guilin Bank was transferred by the third-party in full satisfaction of its remaining overdue receivables of US$24,695 to the Company. The total investment constituted a 1.98% ownership in Guilin Bank. In October 2017, the Company received 7,343,006 shares of Guilin Bank as a stock dividend and the Company’s shareholding increased from 73,430,061 to 80,773,067. No impairment on the investment in Guilin Bank was recognized for the year ended December 31, 2017.

On January 21, 2016, the Company acquired an aggregate of 4,411,765 shares of Chuangdian, which is listed on the National Equities Exchange and Quotations (“NEEQ”) in the PRC, for a total consideration of US$3,294. The investment constituted a 15% ownership in Chuangdian and was classified as a cost method investment, as the Company does not have significant influence and because there is no readily determinable fair value, as the breadth and scope of NEEQ is not comparable to equivalent U.S markets. The Company received 1,378,165 shares and 2,766,177 shares as dividends in 2017 and 2016, respectively. No impairment on the investment in Chuangdian was recognized for the year ended December 31, 2017.

On December 10, 2014, the Company acquired 16% of the share capital of Tospur, a non-listed company, for US$62,257. The investment in Tospur was classified as a cost method investment, as the Company does not have significant influence over Tospur and because there is no readily determinable fair value. No impairment on the investment in Tospur was recognized for the year ended December 31, 2017.

The following is a summary of the available-for-sale securities as of December 31, 2016 and 2017:

	Original Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value (Net Carrying Amount)
	US$		US$		US$		US$
December 31,2016
- Color Life		13,583		7,023		-		20,606
- Hopefluent		34,944		-		(3,911)		31,033

		48,527		7,023		(3,911)		51,639
December 31,2017
- Color Life		3,376		1,178		-		4,554
- Hopefluent		33,956		13,773		-		47,729
- World Union		121,393		196,672		-		318,065

		158,725		211,623		-		370,348

As of December 31, 2016 and 2017, the total losses for securities with net losses in accumulated other comprehensive income (loss) were US$3,911 and nil, respectively. The following table shows all available-for-sale securities in an unrealized loss position for which an other-than-temporary impairment has not been recognized and the related gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

	As of December 31, 2016
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Hopefluent		31,033		(306)		-		(3,605)		31,033		(3,911)

Total available-for-sale securities		31,033		(306)		-		(3,605)		31,033		(3,911)

ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

ACCOUNTS RECEIVABLE

5.	ACCOUNTS RECEIVABLE

Accounts receivable and the related allowance for doubtful accounts were summarized as follows:

	As of December 31,
	2016		2017
	US$		US$

Accounts receivable		128,038		98,011
Allowance for doubtful accounts		(34,366)		(31,127)

Accounts receivable, net		93,672		66,884

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Movement in allowance for doubtful accounts:
Balance at beginning of year		21,397		31,064		34,366
Additional provision charged to expenses		18,649		30,025		31,695
Write-offs		(7,209)		(24,250)		(38,351)
Foreign currency translation adjustments		(1,773)		(2,473)		3,417

Balance at end of year		31,064		34,366		31,127

LOANS RECEIVABLE

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

LOANS RECEIVABLE

7. LOANS RECEIVABLE

Beginning in August 2014, the Company launched its financial services business and platform via www.fangtx.com (formerly known as www.txdai.com). The Company initially provided secured and unsecured loans to both individuals and businesses, but ceased to provide loans to businesses by end of 2015. In 2016, loans made to individuals consist primarily of unsecured loans to new home buyers and bridge loans. In 2017, loans made to individuals consist primarily of secured consumer loans.

Secured loans

As of December 31, 2017 and 2016, the duration of secured loans ranged from one to 36 months, and had interest rates ranging from 6% to 21.6% per annum and 6% to 24% per annum. As of December 31, 2017 and 2016, the total outstanding balance were US$ 132,841 and US$7,031, respectively.

Unsecured loans

As of December 31, 2017 and 2016, the duration of unsecured loans ranged from one to 36 months, and had interest rates ranging from 1% to 28% per annum and 1% to 28.08% per annum. As of December 31, 2017 and 2016, the total outstanding balance were US$16,187 and US$55,479, respectively.

Loans held for investment are recorded at outstanding principal adjusted for any charge-offs, allowance for loan losses and loan origination costs, while loans held for sale are reported at the lower of cost or fair value.

The Company assesses the allowance for credit loss related to loans receivable on a quarterly basis, either on an individual or collective basis. The Company considers various factors in evaluating loans receivable for possible impairment on an individual basis. These factors include the amount of the loan, historical experience, value of collateral, if any, credit quality and age of the receivables balances. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. When the evaluation indicates that it is probable that the scheduled interest and principal payments due per the loan agreement are unlikely to be collected, such loan receivable is considered impaired. Impairment is measured on an individual loan basis using either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is secured. The Company evaluates the remainder of its loans receivables portfolio for impairment on a collective basis in accordance with ASC 450-20, Loss Contingencies, and records an allowance for credit loss at the portfolio segment level. When evaluating the loans receivable on a collective basis, the Company applies a formula-based percentage utilizing historical loss data to calculate the collective allowance.

The Company’s internal credit risk ratings are categorized into three categories: pass, special attention and non-performing. A “pass” rating represents the highest quality loans receivable. Typically, the Company considers loans receivable with a risk rating of non-performing to be fully impaired, or up to the fair value of collateral, if any.

The Company derives internal credit risk rating by taking into consideration various customer-specific factors, such as the Company’s specific historical experience with the borrower. Such credit risk rating is updated when facts or circumstances change. Loans receivable are written off at the point when they are considered uncollectible, and all outstanding balances, including any previously earned but uncollected interest income, will be reversed and charged against the allowance for credit loss.

The internal credit risk rating considerations are as follows:

• Pass: Loans for which borrowers are expected to honor the terms of the contracts. There are no indicators to question the borrowers’ ability to repay the principal and accrued interest in full and on a timely basis.

• Special attention: Loans for which borrowers are currently able to repay the principal and no interests are accrued when considered impaired or overdue more than 90 days, the repayment of loans might be adversely affected by some factors.

• Non-performing: Loans for which borrowers may not able to repay the principal and accrued interest in full. These loans are fully provided for unless secured by collateral

The Company does not accrue interest on loans receivable that are considered impaired or more than 90 days past due unless either the receivable has not been collected due to administrative reasons or the receivable is well secured and in the process of collection. Unsecured loans stop accruing interest when 60 days past due and are classified as impaired loan. After an impaired loans receivable has been placed on nonaccrual status, interest will be recognized when cash is received on a cash basis method-cost recovery. A loan receivable may be returned to accrual status after all of the borrower’s delinquent balances of principal and interest have been settled, and the borrower remains current for an appropriate period. The outstanding balance of nonaccrual loans as of December 31, 2017 and 2016 were US$3,996 and US$3,313, respectively.

A summary of the Company’s loans receivables is presented as follows:

	As of December 31, 2016		As of December 31, 2017
	US$’000		US$’000
Personal loans		62,510		149,028
Total Loans receivable		62,510		149,028

Allowance for loan losses
Individually assessed		541		574
Collectively assessed		3,195		4,342
Loans receivable, net		58,774		144,112

Current portion		41,966		129,438
Non-current portion		16,808		14,674

For the years ended December 31, 2015, 2016 and 2017, a provision of US$3,656, US$3,736 and US$4,916, respectively, were charged to the consolidated statements of comprehensive income (loss) while no charge-offs against provisions occurred.

Analysis of loans by credit quality indicator

The following table summarizes the Company’s loan portfolio by credit quality indicator as of December 31, 2017 and 2016, respectively:

Internal credit risk rating	As of December 31, 2016		%		As of December 31, 2017		%
	US$				US$
Pass		59,196		94.7		144,908		97.2
Special attention		1,158		1.9		763		0.5
Non-performing		2,156		3.4		3,357		2.3

Total		62,510		100		149,028		100

As of December 31, 2016 and 2017, non-performing loans of US$2,156 and US$3,357, respectively, were provided for as they were not secured by collateral.

The following tables represent the aging of loans receivable by portfolio segment as of December 31, 2016 and 2017, respectively:

As of December 31,2017	90-179 days past due		180-365 days past due		Over 1 year past due		Total		Current		Total loans
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Personal loans		245		180		3,445		3,870		145,158		149,028

Total		245		180		3,445		3,870		145,158		149,028

As of December 31,2016	90-179 days past due		180-365 days past due		Over 1 year past due		Total		Current		Total loans
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Personal loans		593		1,390		1,206		3,189		59,321		62,510

Total		593		1,390		1,206		3,189		59,321		62,510

Allowance for loan losses

The following tables present the activity in the allowance for loan losses in loans receivable by loan portfolio as of and for the year ended December 31, 2015, 2016 and 2017, respectively:

For the year ended December 31, 2017	Personal
Beginning balance		3,736
Provision		1,180
Write offs		-
Ending balance		4,916
Ending balance: individually evaluated for impairment		574
Ending balance: collectively evaluated for impairment		4,342
Loans
Of which individually evaluated for impairment		4,477
Of which collectively evaluated for impairment		144,551

For the year ended December 31, 2016	Personal
Beginning balance		3,656
Provision		80
Write offs		-
Ending balance		3,736
Ending balance: individually evaluated for impairment		541
Ending balance: collectively evaluated for impairment		3,195
Loans
Of which individually evaluated for impairment		4,570
Of which collectively evaluated for impairment		57,940

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

8.	PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

	As of December 31,
	2016		2017
	US$		US$

Buildings		263,392		576,467
Office equipment		40,288		24,892
Motor vehicles		1,531		1,408
Leasehold improvement		21,627		16,244
Land		37,421		50,731

Total		364,259		669,742
Less: Accumulated depreciation		(62,759)		(78,187)

Construction in progress		18,397		30,590

		319,897		622,145

Depreciation expenses were US$14,668, US$25,004 and US$27,961 for the years ended December 31, 2015, 2016 and 2017, respectively.

The Company is still in the process of obtaining the property ownership certificates for certain buildings with aggregate net carrying values of US$15,972. As the transfer of ownership of the buildings have been legally registered with the applicable government authority and the purchase consideration has been fully paid by the Company, the Company has the ability to obtain and control the future economic benefits of the buildings. As a result, these buildings were recognized as assets in the consolidated balance sheets as of December 31, 2016 and 2017.

The Company capitalized interest costs as a component of the cost of construction in progress as follows:

	As of December 31,
	2016		2017
	US$		US$

Interest cost capitalized		-		756
Interest cost charged against income		20,791		16,153
Total interest cost incurred		20,791		16,909

DEPOSIT FOR NON-CURRENT ASSETS

12 Months Ended

Dec. 31, 2017

DEPOSIT FOR NON-CURRENT ASSETS [Abstract]

DEPOSIT FOR NON-CURRENT ASSETS

9.	DEPOSIT FOR NON-CURRENT ASSETS

Deposit for non-current assets consisted of the following:

	As of December 31,
	2016		2017
	US$		US$

Buildings		239,827		55,364
Others		885		3,358

Total		240,712		58,722

As of December 31, 2017, deposits for buildings represent interest-free non-refundable deposits for the purchases of certain office buildings: (i) an office building in Wuhan in the PRC for US$41,107; (ii) two floors of an office building in Chongqing, in the PRC for US$13,758; and (iii) one floor of an office building in Changzhou, Jiangsu province in the PRC for US$499.

As of December 31, 2016, deposits for buildings represent interest-free non-refundable deposits for the purchases of certain office buildings: (i) an office building in Beijing in the PRC for US$224,507; (ii) two floors of an office building in Chongqing, in the PRC for US$13,084; and (iii) two floors of an office building in Changzhou, Jiangsu province in the PRC for US$2,236.

As of December 31, 2017, deposit for non-current assets of US$41,107 have been pledged for bank borrowings of US$18,403 from financial institutions in China.

As of December 31, 2016, deposit for non-current assets of US$224,506 have been pledged for bank borrowings of US$87,920 from financial institutions in China.

SHORT-TERM AND LONG-TERM LOANS

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM LOANS

11.

SHORT-TERM AND LONG-TERM LOANS

Short-term and long-term loans consisted of the following:

	As of December 31,
	2016		2017
	US$		US$

Short-term loans		212,734		236,985

Long-term loans		65,190		114,109

Short-term loans as of December 31, 2016 and 2017 represents US$ denominated bank borrowings of US$190,000 and US$190,000, respectively, obtained from financial institutions in the United States and the current-portion of long-term loans of US$22,734 and US$46,985, respectively. The short-term loan of US$190,000 are repayable on demand and bear interest rates of three month London Interbank Offered Rate (“LIBOR”) plus 1.25% (2016: LIBOR plus 1.0%). The short-term bank borrowings were secured by RMB denominated bank deposits placed with financial institutions in the PRC of US$211,084 and US$223,002 as of December 31, 2016 and 2017, respectively, and were classified as “restricted cash, current” on the consolidated balance sheets. The weighted average interest rate for the short-term borrowings for the years ended December 31, 2016 and 2017 was approximately 1.4% and 2.32%, respectively.

The long-term loan of US$32,112 as of December 31, 2017 represents US$ denominated bank borrowing obtained from financial institutions in the United States. The long-term loan is repayable by installments from October 6, 2017 to November 11, 2027 and bears interest rate of 4.1% for the first 3 years; thereafter the interest rate will be floating at Industrial and Commercial Bank of China (USA) NA Prime plus 1.0%. US$770 of the bank loan was re-classified to short term loans because it was repayable within twelve months. The loan is secured by land and building in the United States with carrying value of US$58,108 as of December 31, 2017. Certain bank accounts were funded from the loan proceeds and were restricted for use to pay for the tenant improvements of the collateral property and the loan payments. As of December 31, 2017, the balance of the reserve accounts of US$7,843 was classified as “restricted cash, non-current” on the consolidated balance sheets.

The long-term loan of US$26,809 as of December 31, 2017 represents US$ denominated bank borrowing obtained from financial institutions in China. The long-term loan is repayable on demand and bear interest rates of three month LIBOR plus 2.8%. The bank borrowing was secured by RMB denominated bank deposits placed with financial institutions in the PRC of US$32,139 as of December 31, 2017, and was classified as “restricted cash, non-current” on the consolidated balance sheets.

The long-term loans of US$87,920 and US$83,771 as of December 31, 2016 and 2017 represent RMB denominated bank borrowings from financial institutions in China for the purchase of buildings in Beijing, PRC. The long-term loans are repayable by installments from September 23, 2016 to September 22, 2026 and bear interest rate of 4.9%. As of December 31, 2017, US$43,333 of the bank loans were re-classified to short term loans because i) US$31,904 was repayable on demand as the Company did not meet certain loan covenants, and ii) US$11,429 was repayable within twelve months. The loans were secured by building and construction in progress in the PRC with carrying value of US$237,055 as of December 31, 2017. As of December 31, 2016, US$22,730 of the bank loans were re-classified to short term loans because i) US$13,420 was repayable on demand as the Company did not meet certain loan covenants, and ii) US$9,310 was repayable within twelve months.

The long-term loan of US$18,403 as of December 31, 2017 represents RMB denominated bank borrowings from financial institutions in China for the purchase of buildings in Wuhan, PRC. The long-term loan is repayable by installments from March 21, 2017 to March 21, 2027 and bears interest rate of 4.9%. US$2,882 of the bank loan was re-classified to short term loans because it was repayable within twelve months. The loan was secured by building and deposit for non-current assets in the PRC with carrying value of US$46,429 as of December 31, 2017.

ACCRUED EXPENSES AND OTHER LIABILITIES

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER LIABILITIES

12.

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consisted of the following:

		As of December 31,
		2016		2017
		US$		US$

Payroll and welfare benefit			18,467		19,152
Other taxes and surcharges payable	(1)		39,824		38,669
Accrued unrecognized tax benefits and related interest and penalties	Note 16		121,856		-
Amounts payable to employees			2,162		2,794
Amounts payable to sales and marketing agents			74,669		46,529
Amounts due to foremen and suppliers of decoration services			4,872		3,693
Amounts due to Tianxiajin investors			1,530		357
Down payments collected on behalf of secondary home sellers			3,116		1,806
Cash incentives payable to home buyers	(2)		14,271		12,018
Amounts payable for purchase of treasury stock	(3)		9,861		-
Others			27,911		33,781

			318,539		158,799

(1)

Other taxes and surcharges payable consist of VAT, cultural construction fee (“CCF”), city construction tax (“CCT”) and withholding individual income tax (“IIT”).

(2)

Cash incentives payable to home buyers, are payable when home buyers successfully purchase new properties through the Company’s platform and successfully registers on the Company’s website.

(3)

This amount represents the purchase of treasury stock. The balance was subsequently settled in January 2017.

CONVERTIBLE SENIOR NOTES

12 Months Ended

Dec. 31, 2017

CONVERTIBLE SENIOR NOTES [Abstract]

CONVERTIBLE SENIOR NOTES

14.

CONVERTIBLE SENIOR NOTES

On December 4, 2013, the Company issued US$400,000, including an US$50,000 overallotment option (the “Overallotment Option”) which was exercised on January 3, 2014, of convertible senior notes which will mature on December 15, 2018 (collectively the “December 2018 Notes”). The total net proceeds from the December 2018 Notes were US$390,455. The investors may convert the December 2018 Notes to Class A ordinary shares at any time in whole or in part at specified conversion prices. The conversion rate for the December 2018 Notes is initially 9.6839 ADSs per US$1,000 principal amount of notes (equivalent to an initial conversion price of approximately US$103.26 per ADS), subject to adjustment as described in the respective Subscription Agreement.

Investors of the December 2018 Notes had the right to require the Company to repurchase for cash all or part of their notes on December 15, 2016, and this was exercised accordingly. The Company repurchased a total of US$394,300 of the Notes, which represents approximately 98.6% of the outstanding principal amount of the Notes prior to such repurchase. As of December 31, 2017, the remaining balance of US$5,700 was reclassified to convertible senior notes-current, as it is repayable on December 15, 2018.

On September 24, 2015, the Company issued (i) 3,418,803 Class A ordinary shares for US$100,000 and (ii) US$100,000 of convertible notes which will mature on September 24, 2022 (the “September 2022 Notes”) to Safari Group. The Safari Group is beneficially owned by the Carlyle Group (“Carlyle”) (72%) and Ateefa Limited, a company owned by Vincent Tianquan Mo (28%). A representative of Carlyle is entitled to hold a seat on the Company’s board of directors so long as Carlyle continues to beneficially own at least 1% of the Company’s total outstanding share capital calculated on a fully-diluted basis. The total net proceeds from the Class A ordinary shares and the September 2022 Notes were US$199,645. The investors may convert the September 2022 Notes to Class A ordinary shares at any time in whole or in part at specified conversion prices. The conversion rate for the September 2022 Notes is initially 27.9086 Class A Shares per US$1,000 principal amount of the Note (equivalent to an initial conversion price of approximately US$35.83 per Class A Share), subject to adjustment as described in the respective Subscription Agreement.

On November 4, 2015, the Company issued (i) an aggregate of 8,436,581 Class A shares for a total consideration of US$246,770 and (ii) US$200,000 of convertible notes which will mature on November 3, 2022 (the “November 2022 Notes”). The total net proceeds from the Class A ordinary shares and the November 2022 Notes were US$446,059. The investors may convert the November 2022 Notes to Class A ordinary shares at any time in whole or in part at specified conversion prices. The conversion rate for the November 2022 Notes is initially 27.9086 Class A Shares, representing Class A ordinary shares at par value HK$1.00 per share, per US$1,000 principal amount of the Note (equivalent to an initial conversion price of approximately US$35.83 per Class A Share), subject to adjustment as described in the respective Subscription Agreement.

The December 2018 Notes, the September 2022 Notes and the December 2022 Notes bear interest at the rate of 2.00%, 1.50% and 1.50% per annum, respectively, payable semi-annually. The December 2018 Notes, September 2022 Notes and November 2022 Notes are collectively referred to as the “Notes”.

The Company intends to use the proceeds of the Notes for general corporate purposes, including development of new products and services, working capital, capital expenditures, business expansion and potential business acquisitions, technologies and/or products.

The Notes are senior unsecured obligations and rank (i) senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes; (ii) equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated; (iii) effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and (iv) structurally junior to all indebtedness and other liabilities of the subsidiaries or consolidated controlled entities of the Company.

The issuance costs of US$9,545, US$355 and US$711 of the December 2018 Notes, the September 2022 Notes and the November 2022 Notes, respectively, were amortized as interest expense using the effective interest rate method through the maturity date of the respective Notes.

The principal amount and unamortized discount and debt issuance costs as of December 31, 2016 and 2017 were as follows:

	As of December 31,
	2016		2017
	US$		US$
Principal amount		305,700		305,700
Unamortized discount and debt issuance costs		(10,432)		(8,635)

		295,268		297,065

The effective interest rate was 2.86%, 1.56% and 1.56% for the December 2018 Notes, the September 2022 Notes and the November 2022 Notes, respectively. For the years ended December 31, 2015, 2016 and 2017, the Company recognized interest expense related to the Notes of US$8,904, US$17,001 and US$6,395, respectively.

Accounting treatment

The Notes were originally recorded as long-term debt. The Company evaluated the embedded conversion features contained in the Notes in accordance with ASC 815-40-15 and ASC 815-40-25-7 to ASC 815-40-25-35 to determine if the conversion options require bifurcation.

The conversion option was not required to be bifurcated because the conversion options of the December 2018 Notes and the September 2022 Notes are indexed to the Company’s ADSs and Class A ordinary shares, respectively, and meet all additional conditions for equity classification. Since the conversion options were not required to be bifurcated, the Company then determined if there were any beneficial conversion features (“BCF”) in accordance with ASC 470-20. The Company assessed the embedded conversion option feature of the December 2018 Notes and the September 2022 Notes and concluded that there is no BCF because the effective conversion price of the December 2018 Notes and the September 2022 Notes exceeded the fair value of the Company’s ADSs and Class A ordinary shares at their respective commitment dates. For the November 2022 Notes, the Company recognized a BCF of US$12,113 through a credit to additional paid-in capital because the fair value per Class A ordinary share of US$38.00 exceeded the most favorable conversion price of US$35.83 at the commitment date on November 4, 2015. The resulting discount of US$12,113 to the November 2022 Notes is then accreted to the redemption value as interest expense using the effective interest method through the consolidated statements of comprehensive income (loss) over the term of the November 2022 Notes.

In connection with the make-whole fundamental change provision within the Notes agreements, the number of ADSs and Class A ordinary shares issuable upon conversion of the Notes will be increased if the Holders decide to convert. As (i) the fair value of the ADSs into which the December 2018 Notes is convertible plus the make-whole ADSs and (ii) the fair value of the Class A ordinary shares into which the September 2022 Notes and the November 2022 Notes are convertible plus the make-whole Class A ordinary shares, respectively, do not approximate the fair value at the settlement date, the make-whole features are not indexed to the Company’s ADSs for the December 2018 Notes and Class A ordinary shares for the September 2022 and the November 2022 Notes, and are required to be bifurcated. The fair values of the make-whole features were insignificant for the years ended December 31, 2015, 2016 and 2017.

The Company evaluated the embedded contingent redemption features contained in the Notes in accordance with ASC 815. The contingent redemption features were not required to be bifurcated because they are considered to be clearly and closely related to the debt host, as the Notes were not issued at a substantial discount and are puttable at par.

The Company evaluated the contingent interest features contained in the Notes in accordance with ASC 815 to determine if these features require bifurcation. Certain embedded contingent interest features are not considered to be clearly and closely related to the debt host and met the definition of a derivative. Accordingly, these embedded contingent interest features were bifurcated from the Notes on the issuance date, and their fair values were insignificant for the years ended December 31, 2015, 2016 and 2017. For the embedded contingent interest features not bifurcated from the December 2018 Notes, the September 2022 Notes and the November 2022 Notes, the Company determined whether the additional interest payments need to be accrued as a liability in accordance with ASC 450. Since the likelihood of occurrence of such default events is remote, the Company determined that a liability was not probable and no accrual was made as of December 31, 2016 and 2017. The Company will continue to assess the accrual for these additional interest payment liabilities at each reporting date.

As of December 31, 2017, aggregate future principal payments for long-term debt, including short-term and long-term loans (Note 11) and the convertible senior notes, were as follows:

	US$

2018		52,685
2019		35,296
2020		8,488
2021		8,488
2022 and thereafter		361,837

		466,794

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

SHAREHOLDERS' EQUITY

15.

SHAREHOLDERS’ EQUITY

Ordinary Shares

Upon completion of the Company’s initial public offering (“IPO”) in September 2010, the Company’s ordinary shares were converted into 50,767,426 Class A ordinary shares and 25,298,329 Class B ordinary shares. The Memorandum and Articles of Association were amended and restated such that the authorized share capital consisted of 600,000,000 ordinary shares at a par value of HK$1.00 per share.

In 2015, the Company completed various follow-on offerings which resulted in 70,736,679 Class A ordinary shares issued and outstanding as of December 31, 2015.

The rights of the holders of Class A and Class B ordinary shares are identical, except with respect to voting rights. Each Class A ordinary share is entitled to one vote per share whereas each Class B ordinary share is entitled to 10 votes per share. Each Class B ordinary share is convertible into one Class A ordinary share at any time by its holder, but Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any transfer of Class B ordinary shares by a Class B ordinary shareholder to any person or entity which is not an affiliate of such holder, such Class B ordinary shares will be automatically and immediately converted into the equal number of Class A ordinary shares.

No class B ordinary shares were converted into Class A ordinary shares for the years ended December 31, 2015, 2016 and 2017.

Treasury stock

Treasury stock represents shares repurchased and held by the Company. Treasury stock is accounted for under the cost method. For the year ended December 31, 2016, under the repurchase plan, the Company had repurchased an aggregate of 7,065,058 Class A ordinary shares on the open market for a total cash consideration of US$136,615. For the year ended December 31, 2017, no ordinary shares were repurchased. The repurchased shares are classified as “treasury stock” in shareholders’ equity on the Company’s consolidated balance sheets.

Restricted net assets

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s PRC subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s PRC subsidiaries. On February 10, 2015, the Company’s board of directors declared the distribution of dividends to the Company’s ordinary shareholders in the amount of US$82,751. As of December 31, 2015, all dividends declared had been paid.

In accordance with the PRC Regulations on Enterprises with Foreign Investment and its articles of association, a foreign invested enterprise established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A foreign invested enterprise is required to allocate at least 10% of its annual after-tax profit to the general reserve until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The WOFEs were established as foreign invested enterprises and therefore are subject to the above mandated restrictions on distributable profits.

Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide a statutory common reserve of at least 10% of its annual after-tax profit until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide a discretionary surplus reserve, at the discretion of the board of directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries were established as domestic invested enterprises and therefore are subject to the above mentioned restrictions on distributable profits.

As a result of these PRC laws and regulations that require annual appropriations of 10% of after-tax income to be set aside prior to payment of dividends as general reserve fund, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. Amounts restricted include paid-in capital, statutory reserve funds and net assets of the Company’s PRC subsidiaries, as determined pursuant to PRC generally accepted accounting principles, totaling US$742,676 and US$983,333 as of December 31, 2016 and 2017, respectively. Therefore, in accordance with Rules 504 and 4.08(e)(3) of Regulation S-X, the condensed parent company only financial statements as of December 31, 2016 and 2017 and for each of the three years in the period ended December 31, 2017 are disclosed in Note 24.

TAXATION

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

TAXATION

16.

TAXATION

Cayman Islands

Under the current laws of the Cayman Islands, the Company and subsidiaries incorporated in the Cayman Islands are not subject to tax on income or capital gains. In addition, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands (“BVI”)

Under the current laws of the BVI, subsidiaries incorporated in the BVI are not subject to tax on income or capital gains. In addition, upon payments of dividends by these companies to their shareholders, no BVI withholding tax will be imposed.

Hong Kong

Under the Hong Kong tax laws, subsidiaries in Hong Kong are subject to the Hong Kong profits tax rate at 16.5% and they are exempted from income tax on their foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. No provision for Hong Kong profits tax has been made in the financial statements as the subsidiaries in Hong Kong have no assessable profits for the three years ended December 31, 2017.

United States of America

On December 22, 2017, the Tax Act was enacted and contains significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35% to 21% and creates new taxes focused on foreign-sourced earnings and related-party payments, including the creation of the base erosion anti-abuse tax and a new tax on global intangible low-taxed income ("GILTI").

The Securities and Exchange Commission (SEC) staff issued SAB 118 on December 22, 2017, which allows companies to record provisional amounts during a measurement period not to extend beyond one year of the enactment date.

The Tax Act reduces the U.S. statutory tax rate from 35% to 21% for years after 2017. Accordingly, the Company re-measured its deferred taxes as of December 31, 2017, to reflect the reduced rate that will apply in future periods when these deferred taxes are settled or realized. As Best Work Holdings (New York) LLC. is loss making since incorporated there for the Company recognized a deferred tax asset of US$13,834 to reflect the reduced U.S. tax rate and full valuation allowance is provided and corresponding remeasurement were made to unrecognized tax benefit and valuation allowance.

Singapore

A subsidiary was incorporated in Singapore in November 2014 is subjected to tax rate at 8.5% and does not conduct any substantive operations of its own. No provision for Singapore profits tax has been made in the financial statements as this entity has no assessable profits for the three years ended December 31, 2017.

China

In March 2007, a new enterprise income tax law (the “New EIT Law”) in the PRC was enacted which was amended in February 2017. The New EIT Law applies a unified 25% enterprise income tax (“EIT”) rate to both foreign invested enterprises and domestic enterprises, unless a preferential EIT rate is otherwise stipulated. On April 14, 2008, relevant governmental regulatory authorities issued the Administrative Measures for certification of High and New Technology Enterprises which was amended in January 2016 High and New Technology Enterprise (“HNTE”) status under the New EIT Law which would entitle qualified and approved entities to a favorable EIT tax rate of 15%. In April 2009 and June 2017 the State Administration for Taxation (“SAT”) issued Circular No. 203 (“Circular 203”) and SAT Announcement [2017] No. 24 (“Announcement 24”), stipulating that entities which qualified for the HNTE status should apply with in-charge tax authorities to enjoy the reduced EIT rate of 15% provided under the New EIT Law starting from the year when the new HNTE certificate becomes effective. The HNTE certificate is effective for a period of three years and can be renewed for another three years. Subsequently, an entity needs to re-apply for the HNTE status in order to be able to enjoy the preferential tax rate of 15%.

The Company obtained new HNTE certificates for its various subsidiaries i.e. SouFun Media, Beijing Zhong Zhi Shi Zheng, SouFun Network, Beijing Technology, Beijing JTX Technology and Hong An Tu Sheng in November 2015. Therefore, these six subsidiaries can enjoy the preferential tax rate of 15% in years 2015, 2016 and 2017. The Company obtained new HNTE certificates for Beijing Tuoshi in December 2016. Therefore, Beijing Tuoshi can enjoy the preferential tax rate of 15% in years 2016, 2017 and 2018. The Company newly applied for the Xinjiang Huoerguosi Economic and Technological Development Zone tax preference status for Xinjiang Zhongzhi in 2017 and received the certificates in September 2017. Xinjiang Zhongzhi can enjoy the preferential tax rate of 0% in 4 years since2017.

If any entities fail to maintain the HNTE qualification under the New EIT Law, they will no longer qualify for the preferential tax rate of 15%, which could have a material and adverse effect on the Company’s results of operations and financial position provided that they do not qualify for any other preferential tax treatment. Historically, the abovementioned PRC subsidiaries have successfully obtained or renewed the HNTE certificates when the previous certificates had expired.

Subsequent to government approval in May 2014, Beijing Li Man Wan Jia, Beijing Zhong Zhi Xun Bo and Beijing Hua Ju Tian Xia obtained the Software Enterprise status with effect from January 1, 2013. Accordingly, these three subsidiaries are entitled to the two-year EIT exemption for years 2013 and 2014 and a reduced EIT rate of 12.5% for years 2015, 2016 and 2017.

Moreover, the current EIT Law treats enterprises established outside of China with “effective management and control” located in the PRC as PRC resident enterprises for tax purposes. The term “effective management and control” is generally defined as exercising overall management and control over the business, personnel, accounting, properties, etc. of an enterprise. The Company, if considered a PRC resident enterprise for tax purposes, would be subject to the PRC EIT at the rate of 25% on its worldwide income for the period after January 1, 2008. As of December 31, 2016, the Company had not accrued for PRC tax on such basis. The Company will continue to monitor its tax status.

Income (loss) before income taxes consisted of:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
PRC		(5,008)		(136,773)		56,101
Non-PRC		(16,030)		(7,878)		(12,955)

		(21,038)		(144,651)		43,146

Income tax expenses (benefits) comprised:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Current tax expense		26,456		27,685		21,759
Deferred tax benefit		(32,361)		(2,701)		(317)

		(5,905)		24,984		21,442

A reconciliation between the amount of income tax expenses (benefits) and the amount computed by applying the PRC statutory tax rate to income (loss) before income taxes was as follows:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Income (loss) before income taxes		(21,038)		(144,651)		43,146
Income tax at applicable tax rate of 25%		(5,260)		(36,163)		10,786
Effect of international tax rate differences		847		(598)		472
Non-deductible expenses		2,145		24,135		7,360
Effect of tax holidays or preferential tax rates		(5,985)		(5,759)		(12,001)
Effect of tax rate changes		-		-		(1,725)
Investment basis difference in the PRC Domestic Entities		(335)		(2,757)		2,696
Withholding tax		(30,578)		-		-
Research and development super-deduction		(1,667)		-		-
Changes in valuation allowance		28,041		30,856		8,849
Unrecognized tax benefits		(8,133)		-		(4,302)
Changes in interest and penalties on unrecognized tax benefits		15,020		15,270		9,307

		(5,905)		24,984		21,442

A roll-forward of unrecognized tax benefits, exclusive of related interest and penalties, was as follows:

	As of December 31,
	2015		2016		2017
	US$		US$		US$

Balance at beginning of year		50,983		70,296		78,933
Increase relating to prior year tax positions		32,227		5,070		4,192
Increase relating to current year tax positions		5,124		4,769		10,666
Decrease relating to reversal of prior years’ tax position		(14,059)		-		(14,102)
Decrease relating to expiration of applicable statute of limitations		(1,787)		-		(4,586)
Foreign currency translation adjustments		(2,192)		(1,202)		4,333

Balance at end of year		70,296		78,933		79,436

As of December 31, 2016 and 2017, the Company had recorded US$121,856 and US$144,915 as an accrual for unrecognized tax benefits and related interest and penalties. As of December 31, 2016 and 2017, unrecognized tax benefits of US$67,346 and US$77,561 respectively, would impact the effective tax rate if recognized. The final outcome of the tax uncertainty is dependent upon various matters including tax examinations, interpretation of tax laws or expiration of statute of limitations. However, due to the uncertainties associated with the status of examinations, including the protocols of finalizing audits by the relevant tax authorities, there is a high degree of uncertainty regarding the future cash outflows associated with these tax uncertainties. The amount of unrecognized tax benefits may change in the next twelve months, pending clarification of current tax law or audit by the tax authorities. However, a reliable estimate of the range of the possible change cannot be made at this time.

For the years ended December 31, 2015, 2016, and 2017, the Company recognized, US$15,020,US$15,270 and US$9,593 in income tax expenses for interest and penalties related to uncertain tax positions. Accrued interest and penalties related to unrecognized tax benefits were US$54,510 andUS$67,355 as of December 31, 2016 and 2017, respectively.

The Company’s PRC entities have been subject to the New EIT Law since January 1, 2008. The PRC tax authorities, US tax authorities and Hong Kong tax authorities have up to five years, three years and six years, respectively, to conduct examinations of the Company’s tax filings. Accordingly, the PRC subsidiaries’ tax years 2012 through 2017, the US subsidiaries’ tax years 2015 through 2017 and the Hong Kong subsidiaries’ tax years 2012 through 2017 remain open to examination by the respective taxing jurisdictions.

The aggregate amount and per share effect of tax holidays and preferential tax rates were as follows:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

The aggregate amount		(5,985)		(5,759)		(12,001)
The aggregate effect on basic and diluted earnings per share for Class A and Class B ordinary shares:
-Basic		0.07		0.06		0.14
-Diluted		0.07		0.06		0.13

The components of deferred taxes were as follows:

	As of December 31,
	2016		2017
	US$		US$

Deferred tax assets
Net operating losses		63,227		74,040
Impairment of funds receivable		348		-
Impairment of loans receivable		65		274
Overcharged advertising and promotion fee		90		87
Fix assets depreciation				49
Share based compensation		5,351		6,167
Less: Valuation allowance		(64,166)		(73,015)

Total deferred tax assets, net		4,915		7,602

Deferred tax liabilities
Investment basis in the PRC entities		(57,413)		(61,961)
BaoAn Acquisition – Property		(13,011)		(13,309)
Available-for-sale securities				(51,096)
Trading securities				(133)
Interest capitalization				(142)

Deferred tax liabilities		(70,424)		(126,641)

As of December 31, 2017, the Company had net operating losses from several of its PRC entities of US$4,100, which can be carried forward to offset future taxable profit. The net operating loss carryforwards as of December 31, 2017 will expire in years 2018 to 2022 if not utilized.

Deferred tax liabilities arising from undistributed earnings

As of December 31, 2016 and 2017, a portion of the aggregate undistributed earnings of the PRC subsidiaries that were available for distribution to non-PRC parent companies was not considered to be indefinitely reinvested under ASC 740-30, “Income Taxes: Other Consideration or Special Areas”. In accordance with the New EIT Law, a withholding income tax will be imposed on the PRC subsidiaries when dividends are distributed to their non-PRC parent companies. The withholding tax rate is 10% unless a foreign investor’s tax jurisdiction has a tax treaty with the PRC that provides for a lower withholding tax rate and the foreign investor is recognized as the beneficial owner of the income under the relevant tax rules. Deferred tax liabilities amounting to US$28,716 and US$28,716 were provided for the withholding tax of the PRC entities as of December 31, 2016 and 2017, respectively.

The deferred tax liabilities arising from the aggregate undistributed earnings of the PRC Domestic Entities and the PRC Domestic Entities’ subsidiaries that are available for distribution to the PRC tax resident parent companies, that is, the WOFEs, amounted to US$29,297 and US$33,246 as of December 31, 2016 and 2017, respectively.

As of December 31, 2016 and 2017, the Company did not provide for deferred tax liabilities and foreign withholding taxes on certain undistributed earnings of its PRC subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries that were available for distribution to non-PRC parent companies on the basis of its intent to permanently reinvest these foreign subsidiaries’ earnings. The cumulative amount of such temporary difference was US$309,641 and US$338,695 as of December 31, 2016 and 2017, respectively. The amount of the unrecognized deferred tax liability for temporary differences related to investments in PRC subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries that are essentially permanent in duration was US$30,964 and US$ 33,869 as of December 31, 2016 and 2017, respectively.

SHARE-BASED PAYMENTS

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED PAYMENTS

17.

SHARE-BASED PAYMENTS

Stock related award incentive plan of 1999

On September 1, 1999, the Company’s shareholders approved the 1999 Stock Related Award Incentive Plan (the “1999 Plan”). Under the 1999 Plan, the Company may issue up to 12% of the fully diluted ordinary shares of the Company to its directors and employees. The purpose of the 1999 Plan is to provide additional incentive and motivation to its directors and employees, through an equity interest in the Company, to work towards increasing the value of the Company. The 1999 Plan provides for accelerated vesting, subject to certain conditions, if there is a change in control. The 1999 Plan has no stated expiry date.

The exercise price, vesting and other conditions of individual awards are determined by the executive chairman of the board of directors. The awards are typically subject to a three-year to a four-year service vesting condition and expire 10 or 15 years after the grant date. In addition, the grantee must return all awards and any proceeds from the sale of the awards if he/she violates certain provisions including a non-compete condition for a period of 2 years after cessation of employment with the Company. The non-compete condition does not give rise to an in-substance service condition.

Starting from December 31, 2006, the Company awarded Special Stock Options to its employees and directors. Terms for Special Stock Options are the same as other option grants except the underlying ordinary shares to be received upon exercise of the vested options do not have any entitlement to vote. Every two Special Stock Options is exercisable into one Class A ordinary share. The Special Stock Options have been accounted for as equity awards and measured at the date on which the terms of the grant was communicated to the grantee. These Special Stock Options vest 10% after the first year of service, 20% after the second year of service, 40% after the third year of service and 30% after the fourth year of service. The contractual life of the Special Stock Option is ten years from the date of grant.

Stock related award incentive plan of 2010

On August 4, 2010, the Company’s board of directors and shareholders approved the 2010 Stock Related Award Incentive Plan (the “2010 Plan”). Under the 2010 Plan, the Company may issue up to 10% of the total number of ordinary shares, including ordinary shares issuable upon conversion of any preferred shares to its directors and employees. The purpose of the 2010 Plan was to recognize and acknowledge the contributions made to the Company by eligible employees and to promote the success of the Company’s business. The 2010 Plan allows the board of directors, or its designated committee, to establish the performance criteria when granting stock options on the basis of any one of, or combination of, increase in share price, earnings per share, total shareholder return, return on equity, return on assets, return on investment, net operating income, cash flow, revenue, economic value added, personal management objectives, or other measures of performance selected by the Company’s board of directors, or its designated committee. Partial achievement of the specified criteria may result in a vesting corresponding to the degree of achievement as specified in the detail rules.

The exercise price, vesting and other conditions of individual awards are determined by the executive chairman of the board of directors, except for awards to officers which are determined by the board of directors or the compensation committee. The awards are typically subject to a four-year service vesting condition and multiple performance conditions with a contractual life of ten years. In addition, the grantee must return all awards and any proceeds from the sale of the awards if he/she violates certain provisions.

Stock related award incentive plan of 2015

On June 4, 2015, the Company’s board of directors and shareholders approved the 2015 Stock Related Award Incentive Plan (the “2015 Plan”). Under the 2015 Plan, the Company may issue up to 1.5% of the total number of ordinary shares, including ordinary shares issuable upon conversion of any preferred shares to its directors and employees. The purpose of the 2015 Plan was to recognize and acknowledge the contributions made to the Company by eligible employees and to promote the success of the Company’s business. The 2015 Plan allows the board of directors, or its designated committee, to establish the performance criteria when granting stock options on the basis of any one of, or combination of, increase in share price, earnings per share, total shareholder return, return on equity, return on assets, return on investment, net operating income, cash flow, revenue, economic value added, personal management objectives, or other measures of performance selected by the Company’s board of directors, or its designated committee. Partial achievement of the specified criteria may result in a vesting corresponding to the degree of achievement as specified in the detail rules.

On August 29, 2017(the “Replacement Date”), the Company’s board of directors approved to replace 1,377,730 share options granted during the years ended December 31, 2015 and 2016 under the 2015 Plan to 200 employees with 153,036 options and 1,224,694 restricted shares (the “Replacement Awards”). The exercise price of 153,036 options was reduced from US$27.2~30.0 per share to US$18.1 per share. The replacement awards were subject to graded vesting over four years from the Replacement Date, in which 25% of the awards vest at the end of each of the next four years. The total incremental share-based compensation of US$12,537 resulting from the modification is recognized ratably over the new requisite service period. The total unamortized share-based compensation of US$7,447 resulting from the modification is recognized ratably over the original requisite service period.

Share options

A summary of the equity award activity under the 1999 Plan, 2010 Plan and 2015 Plan for the year ended December 31, 2017 was stated below:

Options Granted to Employees and Directors	Number of Shares (*)		Weighted- Average per Share Exercise Price		Weighted- Average Grant-date Fair Value per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value

Outstanding, December 31, 2016		9,805,417		15.38		5.77		6.20	US$	10,011
Granted (new options)		60,964		17.53		8.22
Granted (replacement options)		153,036		18.10		8.45
Forfeited (up to the replacement)		(235,194)		22.38		9.28
Forfeited (after the replacement)		(586,874)		23.65		8.93
Expired		(209,632)		27.89		8.25
Exercised		(368,320)		11.92		4.59
Replaced		(1,377,730)		28.92		9.02
Outstanding, December 31, 2017		7,241,667		11.93		5.51		5.01	US$	136,242
Vested and expected to vest at December 31, 2017		7,241,667		11.93		5.51		5.01	US$	136,242
Exercisable at December 31, 2017		5,796,713		9.77		4.00		3.50	US$	123,795

The aggregate intrinsic value in the table above represents the difference between the fair value of the Company’s ordinary share at December 31, 2017 and the exercise price.

The weighted average grant-date fair value per share of new options and replacement options granted for the year ended December 31, 2017 was US$8.22 and US$8.45, respectively. Total intrinsic value of options exercised for the years ended December 31, 2015, 2016 and 2017 was US$12,853, US$10,011 and US$ 2,953, respectively.

As of December 31, 2017, there was US$10,725 of unrecognized share-based compensation cost related to share options that are expected to be recognized over a weighted-average vesting period of 2.37 years.

The fair value for stock options granted during the year ended December 31, 2017 under the 2016 Plan was estimated using the Black-Scholes option pricing model. The volatility assumption was estimated based on the price volatility of the shares of the Company and comparable companies in the internet media business. The expected term was estimated based on the resulting output of the Black-Scholes option pricing model. The risk-free rates were based on the market yield of US Treasury Bonds and Notes with maturity terms equal to the expected term of the option awards. Forfeitures were estimated based on historical experience. The dividend yield of nil are based on the Company’s estimated dividend distribution for the stock options granted during the year ended December 31, 2017.

The assumptions used to estimate the fair values of the share options granted were as follows:

	For the Years Ended December 31,
	2017

Risk-free interest rate		1.81% to 2.39%
Dividend yield		nil
Expected volatility range		46.62% to 61.24%
Weighted average expected life		6.25 to 6.35 years
Fair value of ordinary share		US$14.25 to US$17.55

Restricted Shares

A summary of the restricted shares for the year ended December 31, 2017 was stated below:

Restricted Shares Granted to Employees and Directors	Number of Shares (*)		Weighted- Average Grant-date Fair Value per Share

Unvested, December 31, 2016		-		-
Granted (new restricted shares)		427,125		17.55
Granted (replacement restricted shares)		1,224,694		17.55
Forfeited		(47,051)		17.55
Vested		-		-
Unvested, December 31, 2017		1,604,768		17.55

The weighted average grant-date fair value per share of restricted shares granted for the year ended December 31, 2017 was US$ 17.55.

As of December 31, 2017, there was US$17,714 of unrecognized share-based compensation cost related to restricted shares that are expected to be recognized over a weighted-average vesting period of 3.67 years.

Total share-based compensation expense of share-based awards granted to employees and directors was as follows:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Cost of revenues		471		443		364
Selling expenses		446		512		479
General and administrative expenses		3,485		5,597		6,375

		4,402		6,552		7,218

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2017

RELATED PARTY TRANSACTIONS

18.

RELATED PARTY TRANSACTIONS

Related Parties

Name of Related Parties		Relationship with the Company

Vincent Tianquan Mo		Executive chairman of the board of directors and chief executive officer

Richard Jiangong Dai		Director of the board up until February 25, 2016

Wall Street Global Training Center, Inc.		A company under the control of Vincent Tianquan Mo and two other independent directors

Beihai Silver Beach 1 Hotel and Property Management Company, Ltd. (“Beihai Silver Beach”)		A company under the control of Vincent Tianquan Mo

Che Tian Xia Company Ltd.		A company under the control of Vincent Tianquan Mo and Richard Jiangong Dai

Guangxi Wharton International Hotel ("Guangxi Wharton")		A company under the control of Vincent Tianquan Mo

Research Center on Natural Conservation, Inc. ("Research Center")		A company under the control of Vincent Tianquan Mo

Upsky Long Island Hotel LLC ("Upsky Long Island")		A company under the control of Vincent Tianquan Mo

Upsky San Francisco Airport Hotel LLC (formerly known as "Crowne Plaza San Francisco-International Airport") ("Upsky San Francisco")		A company under the control of Vincent Tianquan Mo

Upsky Lighthouse Hotel LLC ("Upsky Lighthouse")		A company under the control of Vincent Tianquan Mo

Nanning Xuyin Business Co., Ltd. (“Nanning Xuyin”)		A company under the control of Vincent Tianquan Mo

New York Military Academy		A company of which Vincent Tianquan Mo is a director

The Company had the following related party transactions for the years ended December 31, 2015, 2016 and 2017:

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Office building leased from:
-Vincent Tianquan Mo		169		154		159
Management fee incurred:
-Beihai Silver Beach		470		421		501
Hotel service fee incurred:
- Beihai Silver Beach		-		113		-
- Upsky San Francisco		20		17		-
- Upsky Lighthouse		1		-		-
- Upsky Long Island		116		81		-
Training fee incurred						-
- New York Military Academy		-		111		-

Free rental space to Wall Street Global Training Center, Inc.

Starting from 2011, the Company provided Wall Street Global Training Center, Inc. with office space of approximately 220 square feet in the Company’s building located in New York City, United States of America, free of charge. The estimated fair value of the free office space was insignificant for each of the years ended December 31, 2015, 2016 and 2017.

Office building leased from Vincent Tianquan Mo

The Company entered into an agreement with Vincent Tianquan Mo to lease a building owned by him for a 10-year period for nil consideration starting from March 1, 2012. The deemed rental expense of US$169 and US$154 and US$159 the corresponding shareholder contribution were included in the consolidated financial statements for the years ended December 31, 2015, 2016 and 2017, respectively.

Management service provided by Beihai Silver Beach

On April 1, 2013, the Company and Beihai Silver Beach entered into a contract, pursuant to which Beihai Silver Beach was engaged to manage the hotel and office leasing operations owned by Shanghai BaoAn Enterprise, Shanghai BaoAn Hotel (“BaoAn Entities”) for ten years. The management fees incurred for the years ended December 31, 2015, 2016 and 2017 were US$470 and US$421, and US$501 respectively.

Hotel service fee

For the year ended December 31, 2015, Upsky San Francisco, Upsky Long Island and Upsky Lighthouse provided hotel accommodation to the Company amounting to US$20, US$116 and US$1, respectively. In the year ended December 31, 2016, Upsky San Francisco, Upsky Long Island and Beihai Silver Beach provided hotel accommodation to the Company amounting to US$17, US$81and US$113. and in the ended December 31,2017, Upsky San Francisco, Upsky Long Island and Upsky Lighthouse provided hotel accommodation to the Company amounting were nil.

Training service fee

In the year ended December 31, 2017, New York Military Academy, a company of which Vincent Tianquan Mo is a director, provided training service to the Company amounting was nil (2016: US$111).

Use of domain name of Che Tian Xia Company Ltd.

In April 2013, the Company entered into a contract with Che Tian Xia Company Ltd. to use the latter’s domain name www.youtx.com for five years at nil consideration.

Nanning Xuyin holds shares of Guilin Bank Co., Ltd (“Guilin Bank”)

As of December 31, 2015, Nanning Xuyin, which is 80% owned by Vincent Tianquan Mo, held 73,430,061 shares of Guilin Bank that were pledged by a third-party for its overdue receivables to the Company through an entrustment agreement. In 2016, 30,595,859 shares of Guilin Bank have been transferred to the Company from Naning Xuying. In 2017, all the rest of the shares of Guilin Bank have been transferred to the Company from Naning Xuying.

The Company had the following related party balances as of December 31, 2016 and 2017:

	As of December 31,
	2016		2017
	US$		US$
Amounts due from a related party:
- Beihai Silver Beach		197		167

The balances as of December 31, 2016 and 2017 represented outstanding management fees which were unsecured and interest-free.

EMPLOYEE DEFINED CONTRIBUTION PLAN

12 Months Ended

Dec. 31, 2017

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE DEFINED CONTRIBUTION PLAN

19.

EMPLOYEE DEFINED CONTRIBUTION PLAN

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Company has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits, which were expensed as incurred, were US$46,861, US$79,676 and US$21,583 for the years ended December 31, 2015, 2016 and 2017, respectively.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

20.

COMMITMENTS AND CONTINGENCIES

Capital commitment

The company had capital commitments mainly for the acquisition and construction of property and equipment of US$117,732 as of December 31, 2017. All of the commitments relating to the purchase of the office building are scheduled to be paid within one year and the commitments relating to the construction project will be settled in installments in the following years according to the construction progress.

Operating lease commitments

As of December 31, 2017, the Company had future minimum lease payments under non-cancellable operating leases with initial terms in excess of one year as follows:

	US$

2018		12,812
2019		4,849
2020		2,294
2021		187
2022 and thereafter		113

		20,255

Payments under operating leases are expensed on a straight-line basis over the periods of the respective leases. The Company’s lease arrangements have no renewal options, rent escalation clauses, restrictions or contingent rents and are all conducted with third parties, except for the building leased from a related party as disclosed in Note 18. For the years ended December 31, 2015, 2016 and 2017, total rental expenses for all operating leases were US$33,769, US$66,330 and US$27,832, respectively.

Income taxes

As of December 31, 2017, the Company had accrued US$144,915 for unrecognized tax benefits (Note 16). The final outcome of the tax uncertainty is dependent upon various matters including tax examinations, interpretation of tax laws or expiration of statute of limitations. However, due to the uncertainties associated with the status of examinations, including the protocols of finalizing audits by the relevant tax authorities, there is a high degree of uncertainty regarding the future cash outflows associated with these tax uncertainties. As of December 31, 2017, the Company classified the accrual for unrecognized tax benefits as a current liability.

Guarantees

In accordance with ASC 460, the Company determined that the fair value of the guarantees provided on the transferred mortgage and unsecured loans and guaranteed loans (Note 7) was insignificant as of December 31, 2016 because the potential exposure to the Company was minimal, as (i) each transferred mortgage loan and guaranteed loan was guaranteed by the borrower’s assets with a fair value substantially greater than the loan principal amounts, and (ii) each transferred unsecured loan was separately assessed by the Company based on recovery risk and the likelihood of default was considered remote. Additionally, no contingent liability was recorded as of December 31, 2016 as there were no indicators that the borrowers will default in the foreseeable future. The Company has ceased the transfer of loans in 2017 and no contingent liability was recorded as of December 31, 2017.

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

SEGMENT REPORTING

21.

SEGMENT REPORTING

In accordance with ASC 280, “Segment Reporting”, the Company’s chief operating decision maker has been identified as the executive chairman of the board of directors and chief executive officer, who makes resource allocation decisions and assesses performance based on the Company’s consolidated results. As a result, the Company has only one reportable segment.

Geographic disclosures

As the Company generates substantially all of its revenues from customers domiciled in the PRC, no geographical segments are presented. All of the Company’s long-lived assets are located in the PRC except for buildings and land (i.e. including the construction in progress) with net book values of US$57,414 and US$104,327 as of December 31, 2016 and 2017, respectively, which are located in the United States of America.

EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

22.

EARNINGS (LOSS) PER SHARE

Basic and diluted earnings (loss) per share for each of the years presented are calculated as follows:

	For the Years Ended December 31,
	2015		2016	2017
	US$		US$	US$	US$		US$	US$
	Class A		Class B	Class A	Class B		Class A	Class B
Earnings (Loss) per share - basic:
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-basic		(10,783)		(4,313)		(125,531)		(44,104)	15,736	5,971
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650	64,139,015	24,336,650
Denominator used for basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650	64,139,015	24,336,650
Earnings (loss) per share - basic		(0.18)		(0.18)		(1.81)		(1.81)	0.25	0.25

Earnings (loss) per share - diluted:
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share		(10,783)		(4,313)		(125,531)		(44,104)	15,736	5,971
Effect of convertible senior notes		-		-		-		-	-	-
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-diluted after assumed conversion		(10,783)		(4,313)		(125,531)		(44,104)	15,736	5,971
Reallocation of net income (loss) attributable to ordinary shareholders as a result of conversion of Class B to Class A shares		(4,313)		-		(44,104)		-	5,971	-
Net income (loss) attributable to ordinary shareholders		(15,096)		(4,313)		(169,635)		(44,104)	21,707	5,971
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650	64,139,015	24,336,650
Conversion of Class B to Class A ordinary shares		24,336,650		-		24,336,650		-	24,336,650	-
Employee stock options		-		-		-		-	3,110,012	-
Convertible senior notes		-		-		-		-	-	-
Denominator used for diluted earnings (loss) per share		85,170,886		24,336,650		93,605,749		24,336,650	91,585,677	24,336,650
Earnings (loss) per share -diluted		(0.18)		(0.18)		(1.81)		(1.81)	0.24	0.24

The repurchased but not retired ordinary shares are accounted as treasury stock which are not considered outstanding and excluded from the calculation of basic earnings (loss) per share since the date of repurchase.

Effects of convertible senior notes to purchase ordinary shares and certain stock options were not included in the calculation of diluted earnings (loss) per share for the year ended December 31, 2015, 2016 and 2017 because the impact of inclusion would be anti-dilutive.

In 2017, the number of securities that were not included in the calculation of diluted earnings (loss) per share because the impact of inclusion would be anti-dilutive were as follows: 2,961,570 share options, 290,534 related to the Company’s December 2018 Notes, 2,790,860 related to the Company’s September 2022 Notes and 5,581,720 related to the Company’s November 2022 Notes. As of December 31, 2017, the conversion prices for the December 2018 Notes, the September 2022 Notes and the November 2022 Notes were US$ 19.62 per ADS, US$7.166 per ADS and US$7.166 per ADS, respectively, as of December 31, 2017. There is no cash conversion rate.

In 2016, the number of securities that were not included in the calculation of diluted earnings (loss) per share because the impact of inclusion would be anti-dilutive were as follows: 5,763,088 employee stock options, 4,153,642 related to the Company’s December 2018 Notes, 2,790,860 related to the Company’s September 2022 Notes and 5,581,720 related to the Company’s November 2022 Notes. As of December 31, 2016, the conversion prices for the December 2018 Notes, the September 2022 Notes and the November 2022 Notes were US$19.62 per ADS, US$7.166 per ADS and US$7.166 per ADS, respectively, as of December 31, 2016. There is no cash conversion rate.

SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

23.

SUBSEQUENT EVENT

On January 2, 2018, the Company entered into a purchase agreement with a third party real estate developer, Chongqing Rungang Real Estate Developing Co,. Ltd. (“Rungang”) to purchase floor 11 to 25 of Chongqing LFC located in Chongqing, China. The Company is in the process of applying a mortgage loan for the purchase of the buildings, and has paid US$47,597 to Rungang as down payment in January 29, 2018.

In November 2017, a court verdict was rendered in favor of the Company for certain disputed receivables and commitment deposits due from a customer in the amount of US$ 9,310, including penalties and interest. Despite the verdict, the Company had initially fully provided for the outstanding receivables as of December 31, 2017, given the Company’s assessment of the customer’s poor financial health. In February 2018, the Company entered into a supplemental settlement agreement pursuant to which the customer repaid a total of US$5.8million through April 2018. The Company recognized the subsequent event via a reversal of its allowance for doubtful accounts as of December 31, 2017 up to the amount of subsequent cash settlement.

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

24.

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed balance sheets

	As of December 31,
	2016		2017
	US$		US$

ASSETS
Cash and cash equivalents		34,072		11,801
Prepayments and other current assets		491		1,485
Amounts due from subsidiaries		-		8,835

Total current assets		34,563		22,121

Non-current assets:
Property and equipment, net		12		-
Long-term investments		54,408		52,283
Investment in subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		753,117		992,902

Total non-current assets		807,537		1,045,185

Total assets		842,100		1,067,306

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
Convertible notes- current		-		5,700
Accrued expenses and other liabilities		11,401		3,850
Amounts due to subsidiaries and PRC Domestic Entities		48,301		-

Total current liabilities		59,702		9,550

Non-current liabilities:
Convertible senior notes		295,268		291,365
Long-term loans		-		26,808
Total non-current liabilities		295,268		318,173

Total liabilities		354,970		327,723

Commitments and contingencies		-		-

Shareholders’ equity:

Class A ordinary shares, par value HK$1.00 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, and 64,360,062 shares and 64,012,758 shares issued and outstanding as of December 31, 2016 and 2017, respectively		9,157		9,204
Class B ordinary shares, par value HK$1.00 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, and 24,336,650 shares and 24,336,650 shares issued and outstanding as of December 31, 2016 and 2017, respectively		3,124		3,124
Additional paid-in capital		488,943		500,666
Accumulated other comprehensive income (loss)		(81,349)		137,630
Retained earnings		203,870		225,574
Treasury stock		(136,615)		(136,615)

Total shareholders’ equity		487,130		739,583

Total liabilities and shareholders’ equity		842,100		1,067,306

Condensed statements of comprehensive income (loss)

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Revenues		-		-		-
Cost of revenues		-		-		-
Gross profit		-		-		-
General and administrative (expenses) income		3,023		3,610		(998)

Operating (loss) income		3,023		3,610		(998)

Equity in profits (losses) of subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		(6,254)		(167,967)		27,339
Interest income		260		1,775		196
Interest expenses		(12,108)		(17,807)		(7,233)
Realized gain on available-for-sale security (including accumulated other comprehensive income reclassifications for unrealized net gain on available-for-sale security of US$10,583 and US$2,736 for the years ended 2016 and 2017, respectively)		-		10,583		2,736
Investment income		-		1,571		2,221
Other-than-temporary impairment on available-for-sale securities		-		(2,232)		(2,768)
Foreign exchange gain (loss)		(17)		832		211

Income (loss) before income taxes		(15,096)		(169,635)		21,704

Income tax expenses		-		-

Net income (loss)		(15,096)		(169,635)		21,704

Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(55,928)		(60,732)		56,571
Amounts reclassified from accumulated other comprehensive income		-		(10,583)		(2,736)
Unrealized gain (loss) on available-for-sale securities		(4,002)		7,326		14,575
Other comprehensive income (loss) recorded by subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		-		-		198,263
Gain (loss) on intra-entity foreign transactions of long-term-investment nature		-		(6,996)		1,872

Other comprehensive income (loss), before tax		(59,930)		(70,985)		268,545
Income tax expense related to components of other comprehensive income		-		-		(49,566)

Other comprehensive income (loss), net of tax		(59,930)		(70,985)		218,979
Comprehensive income (loss)		(75,026)		(240,620)		240,683

Condensed statements of cash flows

	2015		2016		2017
	US$		US$		US$

Net cash provided by (used in) operating activities		(4,718)		117,398		(67,381)
Net cash (used in) provided by investing activities		(78,196)		11,575		13,931
Net cash (used in) provided by financing activities		489,695		(522,057)		31,179
Net (decrease) increase in cash and cash equivalents		406,781		(393,084)		(22,271)
Cash and cash equivalents at beginning of year		20,374		427,156		34,072
Cash and cash equivalents at end of year		427,155		34,072		11,801

Basis of Presentation

For the presentation of the parent company only condensed financial information, the Company records its investment in subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries which it effectively controls through contractual agreements, under the equity method of accounting as prescribed in ASC 323, “Investments-Equity Method and Joint Ventures”. Such investments are presented on the condensed balance sheets as “Investment in subsidiaries, PRC Domestic Entities, and PRC Domestic Entities’ subsidiaries” and the subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries’ profit or loss as “Equity in profits (losses) of subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries” on the condensed statements of comprehensive income (loss). The parent company only condensed financial information should be read in conjunction with the Company’s consolidated financial statements.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

Principles of Consolidation

Principles of Consolidation

Foreign Currency Translation and Transactions

Foreign Currency Translation and Transactions

Cash and Cash Equivalents

Cash and Cash Equivalents

Restricted Cash

Restricted Cash

Investments

Investments

All highly liquid investments with original maturities of greater than 90 days but less than 365 days are classified as short-term investments which are stated at their approximate fair value.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances.

Funds Receivable

Funds Receivable

Commitment deposits

Commitment deposits

Loans receivable

Loans receivable

Property and Equipment, Net

Property and Equipment, Net

Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows:

Category		Estimated Useful Life

Office equipment		5 years
Motor vehicles		5 years
Leasehold improvement		shorter of lease term or economic lives
Buildings		12 -38 years

Land is stated at cost and is not depreciated.

Prepaid land lease payments under operating lease are initially stated at cost and subsequently recognized on the straight-line basis over the lease terms.

Land Use Rights

Land use rights are recorded at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated terms of the land use rights which are 40 -50 years.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company applies ASC 820 in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements.

ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2- Include other inputs that are directly or indirectly observable in the marketplace.

Level 3- Unobservable inputs which are supported by little or no market activity.

The Company measures its available-for-sale securities and trading securities at fair value using quoted prices from the active markets.

Assets measured at fair value on a recurring basis as of December 31, 2016 and 2017 are summarized below.

Fair Value Measurement as of December 31, 2016

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Unobservable
Inputs
(Level 3)

Fair Value at
December 31,
2016

US$

Available-for-sale securities

51,639

	Fair Value Measurement as of December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value at December 31, 2017
	US$		US$		US$		US$

Available-for-sale securities		52,283		318,065		-		370,348
Trading securities		15,833		-		-		15,833

Revenue Recognition

Revenue Recognition

Listing Services

Listing services revenues consist of revenues derived from both basic listing services and special listing services.

(1)

Basic listing services

(2)

Special listing services

Marketing Services

For certain arrangements, the Company provides marketing services that contain multiple deliverables, that is, different forms of services to be delivered over different periods of time.

E-Commerce Services

E-commerce service revenues consist of revenues derived from:

(1) Fang membership services

(2) Direct sales services

(3) Sublease services

	US$

2018		5,668
2019		150
2020		21
2021		1
2022 and thereafter		-

		5,840

(4) Real estate online brokerage services

(5) Online decoration services

Financial Services

Other Value-added Services

Cost of Revenues

Cost of Revenues

Advertising Expenditure

Advertising Expenses

Leases

Leases

Income Taxes

Income Taxes

Government Grants

Government Grants

Share-based Compensation

Share-based Compensation

Earnings per Share

Earnings per Share

Derivative Instruments

Derivative Instruments

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Contingencies

Contingencies

Recent accounting pronouncements

Recent accounting pronouncements

As a result of the assessment, the Company expects the key impacts from the adoption of the new revenue standard with respect to its primary sources of revenues as follows:

• The Company’s revenues will be presented net of value-added tax collected on behalf of third parties, which are currently presented in cost of revenues.

• the Company has fully performed and substantially all of the consideration has been received;

• the contract has been terminated; or

Until one of these events happens, any consideration received form the customer is initially recorded as a liability.

ORGANIZATION AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Subsidiaries and PRC Domestic Entities

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing SouFun Internet Information Service Co., Ltd. ("Beijing Internet")	December 17, 2003	PRC	Provision of marketing services and listing services

SouFun Media Technology (Beijing) Co., Ltd. ("SouFun Media")	November 28, 2002	PRC	Provision of technology and information consultancy services

Beijing SouFun Network Technology Co., Ltd. ("SouFun Network")	March 16, 2006	PRC	Provision of technology and information consultancy services

Beijing SouFun Science and Technology Development Co., Ltd. ("Beijing Technology")	March 14, 2006	PRC	Provision of marketing services and listing services

Beijing Century Jia Tian Xia Technology Development Co., Ltd. ("Beijing JTX Technology")	December 21, 2006	PRC	Provision of marketing services and listing services

Beijing Zhong Zhi Shi Zheng Information Technology Co. Ltd., ("Beijing Zhongzhi")	June 5, 2007	PRC	Provision of technology and information consultancy services

Xinjiang Zhong Zhi Shu Ju Information Technology Co., Ltd. (“Xinjiang Zhong Zhi Shu Ju”)	August 10, 2017	PRC	Provision of technology and information consultancy services

Beijing Hong An Tu Sheng Network Technology Co., Ltd. ("Beijing Hong An")	January 1, 2011	PRC	Provision of technology and information consultancy services

Beijing Tuo Shi Huan Yu Network Technology Co., Ltd. ("Beijing TuoShi")	March 1, 2011	PRC	Provision of technology and information consultancy services

Beijing Yi Ran Ju Ke Technology Development Co., Ltd. ("Beijing Yi Ran Ju Ke")	September 10, 2011	PRC	Provision of marketing services, rental services and real estate agency services

Beijing Hua Ju Tian Xia Network Technology Co., Ltd. ("Beijing Hua Ju Tian Xia")**	July 25, 2012	PRC	Provision of technology and information consultancy services

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing Li Man Wan Jia Network Technology Co., Ltd. ("Beijing Li Man Wan Jia")	July 25, 2012	PRC	Provision of technology and information consultancy services

Shanghai Jia Biao Tang Real Estate Broking Co., Ltd. ("Shanghai JBT Real Estate Broking")	July 7, 2005	PRC	Provision of real estate agency services, marketing services and listing services

Beijing Zhong Zhi Xun Bo Information Technology Co. Ltd., ("Zhongzhi Xun Bo")	January 6, 2012	PRC	Provision of technology and information consultancy services

Tianjin SouFun Network Technology Co., Ltd.("Tianjin SouFun Network")	March 1, 2012	PRC	Provision of technology and information consultancy services

Hangzhou SouFun Network Technology Co., Ltd., ("Hangzhou SouFun Network")	August 27, 2013	PRC	Provision of technology and information consultancy services

Wuhan SouFun Yi Ran Ju Ke Real Estate Agents Co., Ltd. ("Wuhan Yi Ran Ju Ke")	December 13, 2013	PRC	Provision of real estate agency services and real estate information services

Hanzhou Ji Ju Real Estate Agents Co., Ltd. ("Hanzhou Ji Ju")	December 23, 2013	PRC	Provision of real estate agency services and real estate information services

Beijing Tianxia Dai Information service Co., Ltd.("Tianxia Dai Information")	April 9, 2014	PRC	Provision of finance information services

Shanghai SouFun Microfinance Co.,Ltd.("Shanghai SouFun Microfinance")	January 19, 2015	PRC	Provision of Microfinance services

Beihai Tian Xia Dai Microfinance Co., Ltd.("Beihai Tian Xia Dai Microfinance")	September 12, 2014	PRC	Provision of microfinance services

Shanghai BaoAn Enterprise Co., Ltd. (“Shanghai BaoAn Enterprise”)	March 31, 2013	PRC	Lease, resale and management of property

Shanghai BaoAn Hotel Co., Ltd. (“Shanghai BaoAn Hotel”)	March 31, 2013	PRC	Operation and management of hotel, restaurant and other catering business

Company	Date of Establishment	Place of Establishment	Principal Activities

Beijing Fang Tian Xia Decorative Engineering Co., Ltd.("Beijing Fang Tian Xia Decorative Engineering")	October 15, 2014	PRC	Provision of decorative engineering services

Chongqing Tian Xia Dai Microfinance Co., Ltd ("Chongqing Tian Xia Dai Microfinance")	December 11, 2014	PRC	Provision of microfinance services

Tianjin Jia Tian Xia Microfinance Co. ,Ltd. ("Tianjin Jia Tian Xia Microfinance")	December 5, 2014	PRC	Provision of microfinance services

Beijing Fang Chao Real Estate Broking Co., Ltd.	March 6, 2015	PRC	Provision of real estate agency services

Guangzhou Fang Tian Xia Real Estate Broking Co., Ltd.	March 9, 2015	PRC	Provision of real estate agency services

Beijing Cun Fang Real Estate Broking Co., Ltd.	April 7, 2015	PRC	Provision of real estate agency services

Shenzhen Fang Tian Xia Broking Co., Ltd.	April 13, 2015	PRC	Provision of real estate agency services

Tianjin Fang Tian Xia Real Estate Broking Co., Ltd.	May 21, 2015	PRC	Provision of real estate agency services

Nanjing Cun Fang Real Estate Broking Co., Ltd.	April 30, 2015	PRC	Provision of real estate agency services

Company	Date of Establishment	Place of Establishment	Principal Activities

Nanchang Cun Fang Real Estate Broking Co., Ltd.	June 3, 2015	PRC	Provision of real estate agency services

Chongqing Fang Tian Xia Real Estate Broking Co., Ltd.	May 27, 2015	PRC	Provision of real estate agency services

Shanghai SouFun Fang Tian Xia Broking Co., Ltd.	April 16, 2015	PRC	Provision of real estate agency services

Beijing Li Tian Rong Ze Yi Jia Technology Development Co., Ltd.	September 16, 2015	PRC	Provision of technology and information consultancy services

Fang Holdings Limited	August 7, 2000	Hong Kong	Investment holding

Hong Kong Property Network Limited ("HK Property")	May 19, 2011	Hong Kong	Investment holding

Best Fang Holdings LLC	Aug 30, 2017	United States of America	Investment holding

Best Work Holdings (New York) LLC ("Best Work")	March 14, 2011	United States of America	Investment holding

Carrying Amount of Assets and Liabilities

	As of December 31,
	2016		2017
	US$		US$
ASSETS
Current assets:
Cash and cash equivalents		18,352		50,948
Restricted cash, current		209,642		223,002
Short-term investments		2,595		19,838
Accounts receivable (net of allowance of US$19,013 and US$ 13,691 as of December 31, 2016 and 2017, respectively)		74,624		22,119
Funds receivable (net of allowance of US$2,322 and nil as of December 31, 2016 and 2017, respectively)		886		2,824
Commitment deposits (net of allowance of nil and US$206 as of December 31, 2016 and 2017, respectively)		6,527		5,876
Prepayments and other current assets		16,290		16,856

Total current assets		328,916		341,463

Non-current assets:
Property and equipment, net		34,452		275,601
Long-term investments		216,913		433,894
Deferred tax assets, non-current		270		2
Deposit for non-current assets		224,529		41,428
Other non-current assets		633		204
Land use right		-		34,951

Total non-current assets		476,797		786,080

Total assets		805,713		1,127,543

	As of December 31,
	2016		2017
	US$		US$
Current liabilities:
Short-term loans		22,734		59,820
Deferred revenue		21,744		27,095
Accrued expenses and other liabilities		106,459		54,516
Customer’s refundable fees		18,295		10,986
Income tax payable		199		1,325
Intercompany payable to the non PRC Domestic Entities		356,423		431,770

Total current liabilities		525,854		585,512

Non-current liabilities:
Long-term loans		65,190		55,958
Other non-current liabilities		-		37,936
Deferred tax liabilities, non-current		-		51,227

Total non-current liabilities		65,190		145,121

Total liabilities		591,044		730,633

Net assets		214,669		396,910

Result of Operations

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Total revenues		315,797		287,475		91,807
Net loss		(41,831)		(24,135)		(6,484)

Summary of Cash Flow Activities

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Net cash generated from (used in) operating activities		(61,480)		(790)		122,327
Net cash used in investing activities		(8,913)		(3,763)		(99,946)
Net cash generated from (used in) financing activities		95,078		(25,963)		8,142

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Property and Equipment Estimated Useful Lives of Assets

Category		Estimated Useful Life

Office equipment		5 years
Motor vehicles		5 years
Leasehold improvement		shorter of lease term or economic lives
Buildings		12 -38 years

Assets Measeured Fair Value on a Recurring Basis

Fair Value Measurement as of December 31, 2016

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Unobservable
Inputs
(Level 3)

Fair Value at
December 31,
2016

US$

Available-for-sale securities

51,639

	Fair Value Measurement as of December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value at December 31, 2017
	US$		US$		US$		US$

Available-for-sale securities		52,283		318,065		-		370,348
Trading securities		15,833		-		-		15,833

Schedule of future minimum sublease rental incomes

	US$

2018		5,668
2019		150
2020		21
2021		1
2022 and thereafter		-

		5,840

INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Short-Term Investment and Long-Term Investment

Short-term investments and long-term investments consisted of the following:

	As of December 31,
	2016		2017
	US$		US$
Short-term investments
Trading securities		-		15,833
Fixed-rate time deposits		42,929		39,968
		42,929		55,801

Long-term investments:
Available-for-sale securities:
- Color Life Service Group ("Color Life")		20,606		4,554
- Hopefluent Group Holdings Limited ("Hopefluent")		31,033		47,729
- Shenzhen World Union Properties Consultancy Co., Ltd. ("World Union")		-		318,065
		51,639		370,348
Cost method investments:
- Shenzhen World Union Properties Consultancy Co., Ltd. ("World Union")		107,088		-
- Sindeo, Inc. ("Sindeo")		2,768		-
- Guilin Bank		12,173		38,817
- Xian Chuangdian Quancheng Real Estate Consultant Limited (“Chuangdian”)		3,294		3,498
- Tospur Real Estate Consulting Co., Ltd. ("Tospur")		54,918		58,301
		180,241		100,616

		231,880		470,964

Summary of Available-for-Sale Securities

The following is a summary of the available-for-sale securities as of December 31, 2016 and 2017:

	Original Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value (Net Carrying Amount)
	US$		US$		US$		US$
December 31,2016
- Color Life		13,583		7,023		-		20,606
- Hopefluent		34,944		-		(3,911)		31,033

		48,527		7,023		(3,911)		51,639
December 31,2017
- Color Life		3,376		1,178		-		4,554
- Hopefluent		33,956		13,773		-		47,729
- World Union		121,393		196,672		-		318,065

		158,725		211,623		-		370,348

Schedule of unrealized losses and fair value

	As of December 31, 2016
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Hopefluent		31,033		(306)		-		(3,605)		31,033		(3,911)

Total available-for-sale securities		31,033		(306)		-		(3,605)		31,033		(3,911)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Accounts Receivable

	As of December 31,
	2016		2017
	US$		US$

Accounts receivable		128,038		98,011
Allowance for doubtful accounts		(34,366)		(31,127)

Accounts receivable, net		93,672		66,884

Allowance for Doubtful Accounts

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Movement in allowance for doubtful accounts:
Balance at beginning of year		21,397		31,064		34,366
Additional provision charged to expenses		18,649		30,025		31,695
Write-offs		(7,209)		(24,250)		(38,351)
Foreign currency translation adjustments		(1,773)		(2,473)		3,417

Balance at end of year		31,064		34,366		31,127

LOANS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Summary of loans receivable

A summary of the Company’s loans receivables is presented as follows:

	As of December 31, 2016		As of December 31, 2017
	US$’000		US$’000
Personal loans		62,510		149,028
Total Loans receivable		62,510		149,028

Allowance for loan losses
Individually assessed		541		574
Collectively assessed		3,195		4,342
Loans receivable, net		58,774		144,112

Current portion		41,966		129,438
Non-current portion		16,808		14,674

Financing Receivable Credit Quality Indicators

The following table summarizes the Company’s loan portfolio by credit quality indicator as of December 31, 2017 and 2016, respectively:

Internal credit risk rating	As of December 31, 2016		%		As of December 31, 2017		%
	US$				US$
Pass		59,196		94.7		144,908		97.2
Special attention		1,158		1.9		763		0.5
Non-performing		2,156		3.4		3,357		2.3

Total		62,510		100		149,028		100

Past Due Financing Receivables

The following tables represent the aging of loans receivable by portfolio segment as of December 31, 2016 and 2017, respectively:

As of December 31,2017	90-179 days past due		180-365 days past due		Over 1 year past due		Total		Current		Total loans
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Personal loans		245		180		3,445		3,870		145,158		149,028

Total		245		180		3,445		3,870		145,158		149,028

As of December 31,2016	90-179 days past due		180-365 days past due		Over 1 year past due		Total		Current		Total loans
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Personal loans		593		1,390		1,206		3,189		59,321		62,510

Total		593		1,390		1,206		3,189		59,321		62,510

Allowance for Credit Losses on Financing Receivables

The following tables present the activity in the allowance for loan losses in loans receivable by loan portfolio as of and for the year ended December 31, 2015, 2016 and 2017, respectively:

For the year ended December 31, 2017	Personal
Beginning balance		3,736
Provision		1,180
Write offs		-
Ending balance		4,916
Ending balance: individually evaluated for impairment		574
Ending balance: collectively evaluated for impairment		4,342
Loans
Of which individually evaluated for impairment		4,477
Of which collectively evaluated for impairment		144,551

For the year ended December 31, 2016	Personal
Beginning balance		3,656
Provision		80
Write offs		-
Ending balance		3,736
Ending balance: individually evaluated for impairment		541
Ending balance: collectively evaluated for impairment		3,195
Loans
Of which individually evaluated for impairment		4,570
Of which collectively evaluated for impairment		57,940

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consisted of the following:

	As of December 31,
	2016		2017
	US$		US$

Buildings		263,392		576,467
Office equipment		40,288		24,892
Motor vehicles		1,531		1,408
Leasehold improvement		21,627		16,244
Land		37,421		50,731

Total		364,259		669,742
Less: Accumulated depreciation		(62,759)		(78,187)

Construction in progress		18,397		30,590

		319,897		622,145

Capitalized Interest Cost

The Company capitalized interest costs as a component of the cost of construction in progress as follows:

	As of December 31,
	2016		2017
	US$		US$

Interest cost capitalized		-		756
Interest cost charged against income		20,791		16,153
Total interest cost incurred		20,791		16,909

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:

		As of December 31,
		2016		2017
		US$		US$

Payroll and welfare benefit			18,467		19,152
Other taxes and surcharges payable	(1)		39,824		38,669
Accrued unrecognized tax benefits and related interest and penalties	Note 16		121,856		-
Amounts payable to employees			2,162		2,794
Amounts payable to sales and marketing agents			74,669		46,529
Amounts due to foremen and suppliers of decoration services			4,872		3,693
Amounts due to Tianxiajin investors			1,530		357
Down payments collected on behalf of secondary home sellers			3,116		1,806
Cash incentives payable to home buyers	(2)		14,271		12,018
Amounts payable for purchase of treasury stock	(3)		9,861		-
Others			27,911		33,781

			318,539		158,799

(1)

Other taxes and surcharges payable consist of VAT, cultural construction fee (“CCF”), city construction tax (“CCT”) and withholding individual income tax (“IIT”).

(2)

Cash incentives payable to home buyers, are payable when home buyers successfully purchase new properties through the Company’s platform and successfully registers on the Company’s website.

(3)

This amount represents the purchase of treasury stock. The balance was subsequently settled in January 2017.

CONVERTIBLE SENIOR NOTES (Tables)

12 Months Ended

Dec. 31, 2017

CONVERTIBLE SENIOR NOTES [Abstract]

Schedule of debt conversions

	As of December 31,
	2016		2017
	US$		US$
Principal amount		305,700		305,700
Unamortized discount and debt issuance costs		(10,432)		(8,635)

		295,268		297,065

Schedule of aggregate future principal payments

	US$

2018		52,685
2019		35,296
2020		8,488
2021		8,488
2022 and thereafter		361,837

		466,794

TAXATION (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Before Income Taxes

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
PRC		(5,008)		(136,773)		56,101
Non-PRC		(16,030)		(7,878)		(12,955)

		(21,038)		(144,651)		43,146

Income Tax Expenses Benefits

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Current tax expense		26,456		27,685		21,759
Deferred tax benefit		(32,361)		(2,701)		(317)

		(5,905)		24,984		21,442

Reconciliation Between Income Tax Expense and Amount Computed by Applying Statutory Tax Rate

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$
Income (loss) before income taxes		(21,038)		(144,651)		43,146
Income tax at applicable tax rate of 25%		(5,260)		(36,163)		10,786
Effect of international tax rate differences		847		(598)		472
Non-deductible expenses		2,145		24,135		7,360
Effect of tax holidays or preferential tax rates		(5,985)		(5,759)		(12,001)
Effect of tax rate changes		-		-		(1,725)
Investment basis difference in the PRC Domestic Entities		(335)		(2,757)		2,696
Withholding tax		(30,578)		-		-
Research and development super-deduction		(1,667)		-		-
Changes in valuation allowance		28,041		30,856		8,849
Unrecognized tax benefits		(8,133)		-		(4,302)
Changes in interest and penalties on unrecognized tax benefits		15,020		15,270		9,307

		(5,905)		24,984		21,442

Unrecognized Tax Benefits, Exclusive of Related Interest and Penalties

	As of December 31,
	2015		2016		2017
	US$		US$		US$

Balance at beginning of year		50,983		70,296		78,933
Increase relating to prior year tax positions		32,227		5,070		4,192
Increase relating to current year tax positions		5,124		4,769		10,666
Decrease relating to reversal of prior years’ tax position		(14,059)		-		(14,102)
Decrease relating to expiration of applicable statute of limitations		(1,787)		-		(4,586)
Foreign currency translation adjustments		(2,192)		(1,202)		4,333

Balance at end of year		70,296		78,933		79,436

Aggregate Amount and Effect of Tax Holidays and Preferential Tax Rates

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

The aggregate amount		(5,985)		(5,759)		(12,001)
The aggregate effect on basic and diluted earnings per share for Class A and Class B ordinary shares:
-Basic		0.07		0.06		0.14
-Diluted		0.07		0.06		0.13

Components of Deferred Taxes

	As of December 31,
	2016		2017
	US$		US$

Deferred tax assets
Net operating losses		63,227		74,040
Impairment of funds receivable		348		-
Impairment of loans receivable		65		274
Overcharged advertising and promotion fee		90		87
Fix assets depreciation				49
Share based compensation		5,351		6,167
Less: Valuation allowance		(64,166)		(73,015)

Total deferred tax assets, net		4,915		7,602

Deferred tax liabilities
Investment basis in the PRC entities		(57,413)		(61,961)
BaoAn Acquisition – Property		(13,011)		(13,309)
Available-for-sale securities				(51,096)
Trading securities				(133)
Interest capitalization				(142)

Deferred tax liabilities		(70,424)		(126,641)

SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Equity Award Activity

Options Granted to Employees and Directors	Number of Shares (*)		Weighted- Average per Share Exercise Price		Weighted- Average Grant-date Fair Value per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value

Outstanding, December 31, 2016		9,805,417		15.38		5.77		6.20	US$	10,011
Granted (new options)		60,964		17.53		8.22
Granted (replacement options)		153,036		18.10		8.45
Forfeited (up to the replacement)		(235,194)		22.38		9.28
Forfeited (after the replacement)		(586,874)		23.65		8.93
Expired		(209,632)		27.89		8.25
Exercised		(368,320)		11.92		4.59
Replaced		(1,377,730)		28.92		9.02
Outstanding, December 31, 2017		7,241,667		11.93		5.51		5.01	US$	136,242
Vested and expected to vest at December 31, 2017		7,241,667		11.93		5.51		5.01	US$	136,242
Exercisable at December 31, 2017		5,796,713		9.77		4.00		3.50	US$	123,795

Assumptions Used to Estimate Fair Value

	For the Years Ended December 31,
	2017

Risk-free interest rate		1.81% to 2.39%
Dividend yield		nil
Expected volatility range		46.62% to 61.24%
Weighted average expected life		6.25 to 6.35 years
Fair value of ordinary share		US$14.25 to US$17.55

Share - Based Compensation Expense

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Cost of revenues		471		443		364
Selling expenses		446		512		479
General and administrative expenses		3,485		5,597		6,375

		4,402		6,552		7,218

Restricted Stock [Member]

Summary of Equity Award Activity

Restricted Shares Granted to Employees and Directors	Number of Shares (*)		Weighted- Average Grant-date Fair Value per Share

Unvested, December 31, 2016		-		-
Granted (new restricted shares)		427,125		17.55
Granted (replacement restricted shares)		1,224,694		17.55
Forfeited		(47,051)		17.55
Vested		-		-
Unvested, December 31, 2017		1,604,768		17.55

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2017

Related Party Transactions

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Office building leased from:
-Vincent Tianquan Mo		169		154		159
Management fee incurred:
-Beihai Silver Beach		470		421		501
Hotel service fee incurred:
- Beihai Silver Beach		-		113		-
- Upsky San Francisco		20		17		-
- Upsky Lighthouse		1		-		-
- Upsky Long Island		116		81		-
Training fee incurred						-
- New York Military Academy		-		111		-

Related Party Balances

	As of December 31,
	2016		2017
	US$		US$
Amounts due from a related party:
- Beihai Silver Beach		197		167

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

Basic and diluted earnings (loss) per share for each of the years presented are calculated as follows:

	For the Years Ended December 31,
	2015				2016				2017
	US$		US$		US$		US$		US$		US$
	Class A		Class B		Class A		Class B		Class A		Class B
Earnings (Loss) per share - basic:
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-basic		(10,783)		(4,313)		(125,531)		(44,104)		15,736		5,971
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650		64,139,015		24,336,650
Denominator used for basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650		64,139,015		24,336,650
Earnings (loss) per share - basic		(0.18)		(0.18)		(1.81)		(1.81)		0.25		0.25

Earnings (loss) per share - diluted:
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share		(10,783)		(4,313)		(125,531)		(44,104)		15,736		5,971
Effect of convertible senior notes		-		-		-		-		-		-
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-diluted after assumed conversion		(10,783)		(4,313)		(125,531)		(44,104)		15,736		5,971
Reallocation of net income (loss) attributable to ordinary shareholders as a result of conversion of Class B to Class A shares		(4,313)		-		(44,104)		-		5,971		-
Net income (loss) attributable to ordinary shareholders		(15,096)		(4,313)		(169,635)		(44,104)		21,707		5,971
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share		60,834,236		24,336,650		69,269,099		24,336,650		64,139,015		24,336,650
Conversion of Class B to Class A ordinary shares		24,336,650		-		24,336,650		-		24,336,650		-
Employee stock options		-		-		-		-		3,110,012		-
Convertible senior notes		-		-		-		-		-		-
Denominator used for diluted earnings (loss) per share		85,170,886		24,336,650		93,605,749		24,336,650		91,585,677		24,336,650
Earnings (loss) per share -diluted		(0.18)		(0.18)		(1.81)		(1.81)		0.24		0.24

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheets

	As of December 31,
	2016		2017
	US$		US$

ASSETS
Cash and cash equivalents		34,072		11,801
Prepayments and other current assets		491		1,485
Amounts due from subsidiaries		-		8,835

Total current assets		34,563		22,121

Non-current assets:
Property and equipment, net		12		-
Long-term investments		54,408		52,283
Investment in subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		753,117		992,902

Total non-current assets		807,537		1,045,185

Total assets		842,100		1,067,306

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
Convertible notes- current		-		5,700
Accrued expenses and other liabilities		11,401		3,850
Amounts due to subsidiaries and PRC Domestic Entities		48,301		-

Total current liabilities		59,702		9,550

Non-current liabilities:
Convertible senior notes		295,268		291,365
Long-term loans		-		26,808
Total non-current liabilities		295,268		318,173

Total liabilities		354,970		327,723

Commitments and contingencies		-		-

Shareholders’ equity:

Class A ordinary shares, par value HK$1.00 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, and 64,360,062 shares and 64,012,758 shares issued and outstanding as of December 31, 2016 and 2017, respectively		9,157		9,204
Class B ordinary shares, par value HK$1.00 per share, 600,000,000 shares authorized for Class A and Class B in aggregate, and 24,336,650 shares and 24,336,650 shares issued and outstanding as of December 31, 2016 and 2017, respectively		3,124		3,124
Additional paid-in capital		488,943		500,666
Accumulated other comprehensive income (loss)		(81,349)		137,630
Retained earnings		203,870		225,574
Treasury stock		(136,615)		(136,615)

Total shareholders’ equity		487,130		739,583

Total liabilities and shareholders’ equity		842,100		1,067,306

Condensed Statements of Comprehensive Income

	For the Years Ended December 31,
	2015		2016		2017
	US$		US$		US$

Revenues		-		-		-
Cost of revenues		-		-		-
Gross profit		-		-		-
General and administrative (expenses) income		3,023		3,610		(998)

Operating (loss) income		3,023		3,610		(998)

Equity in profits (losses) of subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		(6,254)		(167,967)		27,339
Interest income		260		1,775		196
Interest expenses		(12,108)		(17,807)		(7,233)
Realized gain on available-for-sale security (including accumulated other comprehensive income reclassifications for unrealized net gain on available-for-sale security of US$10,583 and US$2,736 for the years ended 2016 and 2017, respectively)		-		10,583		2,736
Investment income		-		1,571		2,221
Other-than-temporary impairment on available-for-sale securities		-		(2,232)		(2,768)
Foreign exchange gain (loss)		(17)		832		211

Income (loss) before income taxes		(15,096)		(169,635)		21,704

Income tax expenses		-		-

Net income (loss)		(15,096)		(169,635)		21,704

Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(55,928)		(60,732)		56,571
Amounts reclassified from accumulated other comprehensive income		-		(10,583)		(2,736)
Unrealized gain (loss) on available-for-sale securities		(4,002)		7,326		14,575
Other comprehensive income (loss) recorded by subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries		-		-		198,263
Gain (loss) on intra-entity foreign transactions of long-term-investment nature		-		(6,996)		1,872

Other comprehensive income (loss), before tax		(59,930)		(70,985)		268,545
Income tax expense related to components of other comprehensive income		-		-		(49,566)

Other comprehensive income (loss), net of tax		(59,930)		(70,985)		218,979
Comprehensive income (loss)		(75,026)		(240,620)		240,683

Condensed Statements of Cash Flows

	2015		2016		2017
	US$		US$		US$

Net cash provided by (used in) operating activities		(4,718)		117,398		(67,381)
Net cash (used in) provided by investing activities		(78,196)		11,575		13,931
Net cash (used in) provided by financing activities		489,695		(522,057)		31,179
Net (decrease) increase in cash and cash equivalents		406,781		(393,084)		(22,271)
Cash and cash equivalents at beginning of year		20,374		427,156		34,072
Cash and cash equivalents at end of year		427,155		34,072		11,801

ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Details of Company's Subsidiaries, PRC Domestic Entities and PRC Domestic Entities' Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2017
Beijing SouFun Internet Information Service Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 17, 2003
Place of Establishment	PRC
Principal Activities	Provision of marketing services and listing services
SouFun Media Technology Beijing Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Nov. 28, 2002
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing SouFun Network Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 16, 2006
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing SouFun Science and Technology Development Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 14, 2006
Place of Establishment	PRC
Principal Activities	Provision of marketing services and listing services
Beijing Century Jia Tian Xia Technology Development Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 21, 2006
Place of Establishment	PRC
Principal Activities	Provision of marketing services and listing services
Beijing Zhong Zhi Shi Zheng Information Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jun. 05, 2007
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing Hong An Tu Sheng Network Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jan. 01, 2011
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing Tuo Shi Huan Yu Network Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 01, 2011
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing Yi Ran Ju Ke Technology Development Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Sep. 10, 2011
Place of Establishment	PRC
Principal Activities	Provision of marketing services, rental services and real estate agency services
Beijing Hua Ju Tian Xia Network Technology Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jul. 25, 2012
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Beijing Li Man Wan Jia Network Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jul. 25, 2012
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Shanghai Jia Biao Tang Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jul. 07, 2005
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services, marketing services and listing services
Beijing Zhong Zhi Xun Bo Information Technology Co. Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jan. 06, 2012
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Tianjin Soufun Network Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 01, 2012
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Hangzhou SouFun Network Technology Co., Ltd., [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Aug. 27, 2013
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Wuhan SouFun Yi Ran Ju Ke Real Estate Agents Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 13, 2013
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services and real estate information services
Hanzhou Ji Ju Real Estate Agents Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 23, 2013
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services and real estate information services
Beijing Tianxia Dai Information Service Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Apr. 09, 2014
Place of Establishment	PRC
Principal Activities	Provision of finance information services
Chongqing Tian Xia Dai Microfinance Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 11, 2014
Place of Establishment	PRC
Principal Activities	Provision of microfinance services
Chongqing Fang Tian Xia Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	May 27, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Tianjin Fang Tian Xia Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	May 21, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Nanjing Cun Fang Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Apr. 30, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Shenzhen Fang Tian Xia Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Apr. 13, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Beijing Cun Fang Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Apr. 07, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Beijing Fang Chao Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 06, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Tianjin Jia Tian Xia Microfinance Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Dec. 05, 2014
Place of Establishment	PRC
Principal Activities	Provision of microfinance services
Beijing Fang Tian Xia Decorative Engineering Co Ltd [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Oct. 15, 2014
Place of Establishment	PRC
Principal Activities	Provision of decorative engineering services
Beihai Tian Xia Dai Microfinance Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Sep. 12, 2014
Place of Establishment	PRC
Principal Activities	Provision of microfinance services
Shanghai Baoan Enterprise Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 31, 2013
Place of Establishment	PRC
Principal Activities	Lease, resale and management of property
Shanghai BaoAn Hotel Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 31, 2013
Place of Establishment	PRC
Principal Activities	Operation and management of hotel, restaurant and other catering business
Best Work Holdings New York LLC [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 14, 2011
Place of Establishment	United States of America
Principal Activities	Investment holding
Shanghai SouFun Microfinance Co.,Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jan. 19, 2015
Place of Establishment	PRC
Principal Activities	Provision of Microfinance services
Guangzhou Fang Tian Xia Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Mar. 09, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Nanchang Cun Fang Real Estate Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Jun. 03, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Beijing Li Tian Rong Ze Yi Jia Technology Development Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Sep. 16, 2015
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Fang Holdings Limited [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Aug. 07, 2000
Place of Establishment	Hong Kong
Principal Activities	Investment holding
Hong Kong Property Network Limited [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	May 19, 2011
Place of Establishment	Hong Kong
Principal Activities	Investment holding
Shanghai SouFun Fang Tian Xia Broking Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Apr. 16, 2015
Place of Establishment	PRC
Principal Activities	Provision of real estate agency services
Xinjiang Zhong Zhi Shu Ju Information Technology Co., Ltd. [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Aug. 10, 2017
Place of Establishment	PRC
Principal Activities	Provision of technology and information consultancy services
Best Fang Holdings LLC [Member]
Summary of Investment Holdings [Line Items]
Date of Establishment	Aug. 30, 2017
Place of Establishment	United States of America
Principal Activities	Investment holding

ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 228,276	$ 336,528	$ 817,921	$ 354,760
Restricted cash, current	223,002	211,084
Short-term investments	55,801	42,929
Accounts receivable (net of allowance of US$19,013 and US$ 13,691 as of December 31, 2016 and 2017, respectively)	66,884	93,672
Funds receivable (net of allowance of US$2,322 and nil as of December 31, 2016 and 2017, respectively)	6,264	20,483
Commitment deposits (net of allowance of nil and US$206 as of December 31, 2016 and 2017, respectively)	5,876	6,527
Prepayments and other current assets	32,704	39,824
Total current assets	748,412	793,210
Non-current assets:
Property and equipment, net	622,145	319,897
Long-term investments	470,964	231,880
Deferred tax assets, non-current	7,602	4,915
Deposit for non-current assets	58,722	240,712
Other non-current assets	2,026	7,391
Land use right	35,728	0
Total non-current assets	1,251,843	821,603
Total assets	2,000,255	1,614,813
Current liabilities:
Short-term loans	236,985	212,734
Deferred revenue	168,884	129,765
Accrued expenses and other liabilities	158,799	318,539
Customer’s refundable fees	7,070	28,630
Income tax payable	4,374	6,022
Total current liabilities	581,812	695,690
Non-current liabilities:
Long-term loans	466,794
Other non-current liabilities	146,053	416
Total non-current liabilities	678,168	431,298
Total liabilities	1,259,980	1,126,988
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member]
Current assets:
Cash and cash equivalents	50,948	18,352
Restricted cash, current	223,002	209,642
Short-term investments	19,838	2,595
Accounts receivable (net of allowance of US$19,013 and US$ 13,691 as of December 31, 2016 and 2017, respectively)	22,119	74,624
Funds receivable (net of allowance of US$2,322 and nil as of December 31, 2016 and 2017, respectively)	2,824	886
Commitment deposits (net of allowance of nil and US$206 as of December 31, 2016 and 2017, respectively)	5,876	6,527
Prepayments and other current assets	16,856	16,290
Total current assets	341,463	328,916
Non-current assets:
Property and equipment, net	275,601	34,452
Long-term investments	433,894	216,913
Deferred tax assets, non-current	2	270
Deposit for non-current assets	41,428	224,529
Other non-current assets	204	633
Land use right	34,951
Total non-current assets	786,080	476,797
Total assets	1,127,543	805,713
Current liabilities:
Short-term loans	59,820	22,734
Deferred revenue	27,095	21,744
Accrued expenses and other liabilities	54,516	106,459
Customer’s refundable fees	10,986	18,295
Income tax payable	1,325	199
Intercompany payable to the non PRC Domestic Entities	431,770	356,423
Total current liabilities	585,512	525,854
Non-current liabilities:
Long-term loans	55,958	65,190
Other non-current liabilities	37,936
Deferred tax liabilities, non-current	51,227
Total non-current liabilities	145,121	65,190
Total liabilities	730,633	591,044
Net assets	$ 396,910	$ 214,669

ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Carrying Amounts of Assets and Liabilities) (Details) (Parenthetical) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Accounts receivable, allowance	$ 31,127	$ 34,366	$ 31,064	$ 21,397
Allowance for Doubtful Accounts Receivable	31,127	34,366
Funds Receivable [Member]
Accounts receivable, allowance		2,322
Allowance for Doubtful Accounts Receivable		2,322
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member]
Accounts receivable, allowance	13,691	19,013
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member] \| Commitment Deposits [Member]
Allowance for Doubtful Accounts Receivable	$ 206
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member] \| Funds Receivable [Member]
Allowance for Doubtful Accounts Receivable		$ 2,322

ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Results of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Total revenues	$ 444,296	$ 916,391	$ 883,549
Net loss	21,704	(169,635)	(15,133)
Domestic [Member]
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Total revenues	91,807	287,475	315,797
Net loss	$ (6,484)	$ (24,135)	$ (41,831)

ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash generated from (used in) operating activities	$ 126,889	$ 131,240	$ (165,310)
Net cash used in investing activities	(284,512)	(127,946)	58,562
Net cash generated from (used in) financing activities	34,010	(465,615)	587,471
Domestic [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash generated from (used in) operating activities	122,327	(790)	(61,480)
Net cash used in investing activities	(99,946)	(3,763)	(8,913)
Net cash generated from (used in) financing activities	$ 8,142	$ (25,963)	$ 95,078

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Restricted Cash and Cash Equivalents, Current	$ 223,002	$ 211,084
Deposit Assets	41,107	224,506
Property, Plant and Equipment, Net	622,145	319,897
Subsidiaries [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Deposit Assets	41,107
Property, Plant and Equipment, Net	242,377
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Restricted Cash and Cash Equivalents, Current	223,002	209,642
Pledged Assets Separately Reported, Deposits For Non Current Assets Pledged as Collateral	41,107
Pledged Assets Separately Reported, Property Plant And Equiment Pledged as Collateral	242,377
Property, Plant and Equipment, Net	$ 275,601	$ 34,452

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Estimated Useful Lives of Assets) (Details)	12 Months Ended
	Dec. 31, 2017
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Buildings [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	12 years
Buildings [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	38 years
Leasehold Improvement [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	shorter of lease term or economic lives

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Summary of Assets Measured at Fair Value on Recurring Basis) (Details) - Available-for-sale securities [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Available-for-sale securities	$ 370,348	$ 51,639
Trading securities	15,833
Fair Value Inputs Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Available-for-sale securities	52,283	51,639
Trading securities	15,833
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Available-for-sale securities	318,065
Trading securities
Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Available-for-sale securities
Trading securities

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of future minimum sublease rental income) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
2018	$ 5,668
2019	150
2020	21
2021	1
2022 and thereafter
Total	$ 5,840

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2017 HKD ($)	Dec. 31, 2016 HKD ($)	Dec. 31, 2014 USD ($)
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 31,127		$ 34,366	$ 31,064			$ 21,397
Business tax and surcharges	33,320		68,007	48,253
Advertising costs	16,869		61,762	44,123
Sublease rental income	15,085		31,929
Government grants	3,154		6,469	4,936
Revenues	444,296		916,391	883,549
Other than Temporary Impairment Losses, Investments	$ 2,768		2,232	0
Finite-Lived Intangible Assets, Amortization Method	straight-line basis	straight-line basis
Loans Receivables Derecognized	$ 0		0	37,870
Funds Receivable [Member]
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts			2,322
Marketing Services [Member]
Significant Accounting Policies [Line Items]
Revenues	1,361		728
New Payment Arrangements One [Member] \| Marketing Services [Member]
Significant Accounting Policies [Line Items]
Revenues			9,730	$ 52,000
Market Approach Valuation Technique [Member]
Significant Accounting Policies [Line Items]
Estimated fair value of convertible senior notes	$ 301,036		$ 225,186
Maximum [Member]
Significant Accounting Policies [Line Items]
Cash equivalents maturity period	90 days	90 days
Short term investments maturity period	365 days	365 days
Membership services fee \| ¥		¥ 20,000
Finite-Lived Intangible Asset, Useful Life	50 years	50 years
Maximum [Member] \| Cash And Cash Equivalents [Member]
Significant Accounting Policies [Line Items]
Short term investments maturity period	90 days	90 days
Minimum [Member]
Significant Accounting Policies [Line Items]
Short term investments maturity period	90 days	90 days
Membership services fee \| ¥		¥ 5,000
Finite-Lived Intangible Asset, Useful Life	40 years	40 years

CONCENTRATION OF RISKS (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Concentration Risk [Line Items]
Cash and cash equivalents, restricted cash and short term investments	$ 507,079
Internet Content Provision ("ICP") and Advertising Businesses [Member] \| Maximum [Member]
Concentration Risk [Line Items]
Maximum percentage of ownership amount that foreign investors are allowed to own equity interest	50.00%
Financial Institution [Member] \| CHINA
Concentration Risk [Line Items]
Cash and cash equivalents, restricted cash and short term investment held percentage	95.50%
Financial Institution [Member] \| International [Member]
Concentration Risk [Line Items]
Cash and cash equivalents, restricted cash and short term investment held percentage	4.50%

INVESTMENTS (Short-Term Investment and Long-Term Investment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment And Other Income [Line Items]
Short-term investments	$ 55,801	$ 42,929
Long-term investments	470,964	231,880
Fixed Rate Time Deposits [Member]
Investment And Other Income [Line Items]
Short-term investments	39,968	42,929
Trading Securities [Member]
Investment And Other Income [Line Items]
Short-term investments	15,833	0
Available-for-sale securities [Member] \| Equity Securities [Member]
Investment And Other Income [Line Items]
Long-term investments	370,348	51,639
Available-for-sale securities [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	100,616	180,241
Available-for-sale securities [Member] \| Tospur Real Estate Consulting Co Ltd [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	58,301	54,918
Available-for-sale securities [Member] \| Hopefluent Group Holdings Limited [Member] \| Equity Securities [Member]
Investment And Other Income [Line Items]
Long-term investments	47,729	31,033
Available-for-sale securities [Member] \| Color Life Service Group [Member] \| Equity Securities [Member]
Investment And Other Income [Line Items]
Long-term investments	4,554	20,606
Available-for-sale securities [Member] \| Shenzhen World Union Properties Consultancy Co.,Ltd. [Member] \| Equity Securities [Member]
Investment And Other Income [Line Items]
Long-term investments	318,065	0
Available-for-sale securities [Member] \| Shenzhen World Union Properties Consultancy Co.,Ltd. [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	0	107,088
Available-for-sale securities [Member] \| Sindeo, Inc. (the "Corporation") [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	0	2,768
Available-for-sale securities [Member] \| Guilin Bank [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	38,817	12,173
Available-for-sale securities [Member] \| Xian Chuangdian Quancheng Real estate consultant limited [Member] \| Cost-method Investments [Member]
Investment And Other Income [Line Items]
Long-term investments	$ 3,498	$ 3,294

INVESTMENTS (Summary of Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Original Cost	$ 158,725	$ 48,527
Gross Unrealized Gain	211,623	7,023
Gross Unrealized losses	0	(3,911)
Fair Value	370,348	51,639
Color Life Service Group [Member] \| Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Original Cost	3,376	13,583
Gross Unrealized Gain	1,178	7,023
Gross Unrealized losses
Fair Value	4,554	20,606
Hopefluent Group Holdings Limited [Member] \| Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Original Cost	33,956	34,944
Gross Unrealized Gain	13,773
Gross Unrealized losses	0	(3,911)
Fair Value	47,729	$ 31,033
World Union [Member] \| Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Original Cost	121,393
Gross Unrealized Gain	196,672
Gross Unrealized losses	0
Fair Value	$ 318,065

INVESTMENTS (Summary of Available-for-Sale Securities in an unrealized loss position) (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Less than Twelve Months, Fair Value	$ 31,033
Available-for-sale Securities, Twelve Months or Longer, Fair Value
Available-for-sale Securities, Fair Value	31,033
Available-for-sale Securities, Less than 12 Months, Unrealized Loss	(306)
Available-for-sale Securities, 12 Months or Longer, Unrealized Loss	(3,605)
Available-for-sale Securities, Unrealized Loss	(3,911)
Hopefluent Group Holdings Limited [Member] \| Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Less than Twelve Months, Fair Value	31,033
Available-for-sale Securities, Twelve Months or Longer, Fair Value
Available-for-sale Securities, Fair Value	31,033
Available-for-sale Securities, Less than 12 Months, Unrealized Loss	(306)
Available-for-sale Securities, 12 Months or Longer, Unrealized Loss	(3,605)
Available-for-sale Securities, Unrealized Loss	$ (3,911)

INVESTMENTS (Narrative) (Details) - USD ($) $ in Thousands					1 Months Ended						12 Months Ended
INVESTMENTS (Narrative) (Details) - USD ($) $ in Thousands	Jul. 12, 2016	Jan. 21, 2016	Dec. 10, 2014	Jun. 27, 2014	Dec. 31, 2017	Oct. 31, 2017	Sep. 25, 2017	Oct. 29, 2015	May 29, 2015	Nov. 30, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 08, 2016
Investment And Other Income [Line Items]
Interest income on fixed-rate time deposits and adjustable-rate investments											$ 11,322	$ 11,367	$ 9,474
Consideration for acquisition						$ 15,299
Unrealized gain on available-for-sale security											212,838	7,326	(4,002)
Market price of acquired firm						$ 15,833
Realized gain on investment											518
Investment income											6,692	3,281	1,333
Total losses for securities with net losses in accumulated other comprehensive income (loss)					$ 0						0	3,911
Proceeds from Sale of Available-for-sale Securities											13,931	13,074	0
Accumulated other comprehensive income reclassifications for unrealized gain on available-for-sale security											2,736	10,583
Impairment loss											$ 2,768	$ 2,232	0
Dividend received In Shares											1,378,165	2,766,177
Income tax expense related to components of other comprehensive income											$ 49,566	$ 0	0
Shenzhen World Union Properties Consultancy Co.,Ltd. [Member]
Investment And Other Income [Line Items]
Dividend received In Shares						7,343,006
Shenzhen World Union Properties Consultancy Co.,Ltd. [Member] \| Minimum [Member]
Investment And Other Income [Line Items]
Shares acquired during the period						73,430,061
Shenzhen World Union Properties Consultancy Co.,Ltd. [Member] \| Maximum [Member]
Investment And Other Income [Line Items]
Shares acquired during the period						80,773,067
Sindeo, Inc. (the "Corporation") [Member]
Investment And Other Income [Line Items]
Consideration for acquisition								$ 5,000
Percentage of ownership interest								11.03%
Guilin Bank [Member]
Investment And Other Income [Line Items]
Shares acquired during the period	30,595,859						42,834,202
Consideration for acquisition	$ 12,173						$ 24,695
Percentage of ownership interest	1.02%						1.98%
Additional Shares Acquired In Business Acquisition							42,834,202
Chuangdian [Member]
Investment And Other Income [Line Items]
Shares acquired during the period		4,411,765
Consideration for acquisition		$ 3,294
Percentage of ownership interest		15.00%
Tospur [Member]
Investment And Other Income [Line Items]
Consideration for acquisition			$ 62,257
Percentage of ownership interest			16.00%
Equity Securities [Member]
Investment And Other Income [Line Items]
Proceeds from Sale of Available-for-sale Securities					12,317
Accumulated other comprehensive income reclassifications for unrealized gain on available-for-sale security					2,110
Equity Securities [Member] \| Color Life Service Group [Member]
Investment And Other Income [Line Items]
Unrealized loss											3,735	3,097
Market price of acquired firm											4,554	20,606	23,703
Total losses for securities with net losses in accumulated other comprehensive income (loss)
Sale of Stock, Number of Shares Issued in Transaction					20,705,000
Income tax expense related to components of other comprehensive income											2,110
Equity Securities [Member] \| Hopefluent Group Holdings Limited [Member]
Investment And Other Income [Line Items]
Unrealized gain on available-for-sale security											18,309
Market price of acquired firm											47,729
Total losses for securities with net losses in accumulated other comprehensive income (loss)					$ 0						0	3,911
Proceeds from Sale of Available-for-sale Securities					1,614
Accumulated other comprehensive income reclassifications for unrealized gain on available-for-sale security					$ 626
Sale of Stock, Number of Shares Issued in Transaction					3,164,000
Income tax expense related to components of other comprehensive income											626
Equity Securities [Member] \| Shenzhen World Union Properties Consultancy Co.,Ltd. [Member]
Investment And Other Income [Line Items]
Total losses for securities with net losses in accumulated other comprehensive income (loss)					$ 0						0
Discount On Market Value Of Available Sale Of Securities					198,264						198,264
Assets, fair value disclosure, recurring					318,065						318,065
Available-for-sale securities [Member]
Investment And Other Income [Line Items]
Assets, fair value disclosure, recurring					$ 370,348						$ 370,348	51,639
Available-for-sale securities [Member] \| Equity Securities [Member] \| Color Life Service Group [Member]
Investment And Other Income [Line Items]
Shares acquired during the period				27,551,733
Consideration for acquisition				$ 13,583
Percentage of ownership interest				2.76%
Available-for-sale securities [Member] \| Equity Securities [Member] \| Hopefluent Group Holdings Limited [Member]
Investment And Other Income [Line Items]
Shares acquired during the period										111,935,037
Consideration for acquisition										$ 43,361
Percentage of ownership interest										17.26%
Unrealized loss												306
Market price of acquired firm												$ 31,033	$ 31,339
Available-for-sale securities [Member] \| Equity Securities [Member] \| Shenzhen World Union Properties Consultancy Co.,Ltd. [Member]
Investment And Other Income [Line Items]
Shares acquired during the period									145,376,744					203,527,442
Consideration for acquisition									$ 121,393
Percentage of ownership interest									10.06%

ACCOUNTS RECEIVABLE (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Accounts receivable	$ 98,011	$ 128,038
Allowance for doubtful accounts	(31,127)	(34,366)
Accounts receivable, net	$ 66,884	$ 93,672

ACCOUNTS RECEIVABLE (Schedule of Allowance for Doubtful Accounts) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2017 HKD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Movement in allowance for doubtful accounts:
Balance at beginning of year	$ 34,366		$ 31,064	$ 21,397
Additional provision charged to expenses	31,695		30,025	18,649
Write-offs	(38,351)		(24,250)	(7,209)
Foreign currency translation adjustments	3,417		(2,473)	(1,773)
Balance at end of year	$ 31,127		$ 34,366	$ 31,064

PREPAYMENTS AND OTHER CURRENT ASSETS (Schedule of prepayments and other current assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Prepaid expenses	$ 5,845	$ 13,092
Advance to employees	903	1,334
Receivable from a broker for exercise of employee stock options	808	0
Rental deposits and others	4,876	7,668
Interest receivable	2,902	1,021
Rent paid to original lessors for sublease services	5,590	6,793
Receivable for real estate properties	0	989
Properties held for sale	5,429	0
Others	6,351	8,927
Prepayments and other current assets	$ 32,704	$ 39,824

LOANS RECEIVABLE (Summary of Group’s loans Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Total Loans receivable	$ 149,028	$ 62,510
Individually assessed	574	541
Collectively assessed	4,342	3,195
Loans receivable, net	149,028	62,510
Loans receivable, net, current	129,438	41,966
Loans receivable, non-current	14,674	16,808
Consumer Portfolio Segment [Member]
Total Loans receivable	149,028	62,510
Individually assessed	574	541
Collectively assessed	4,342	3,195
Loans receivable, net	$ 149,028	$ 62,510

LOANS RECEIVABLE (Loans Credit) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	$ 149,028	$ 62,510
Notes receivable, Percentage	100.00%	100.00%
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	$ 144,908	$ 59,196
Notes receivable, Percentage	97.20%	94.70%
Special attention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	$ 763	$ 1,158
Notes receivable, Percentage	0.50%	1.90%
Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	$ 3,357	$ 2,156
Notes receivable, Percentage	2.30%	3.40%

LOANS RECEIVABLE (Loans Portfolio Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 3,870	$ 3,189
Financing Receivable, Recorded Investment, Current	145,158	59,321
Financing Receivable, Net	149,028	62,510
Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	3,870	3,189
Financing Receivable, Recorded Investment, Current	145,158	59,321
Financing Receivable, Net	149,028	62,510
Financing Receivables, 90 to 179 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	245	593
Financing Receivables, 90 to 179 Days Past Due [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	245	593
Financing Receivables, 180 to 365 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	180	1,390
Financing Receivables, 180 to 365 Days Past Due [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	180	1,390
Financing Receivables Equal To Over 1year Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	3,445	1,206
Financing Receivables Equal To Over 1year Past Due [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 3,445	$ 1,206

LOANS RECEIVABLE (Loans Receivable Portfolio) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Ending balance: individually evaluated for impairment	$ 574	$ 541
Ending balance: collectively evaluated for impairment	4,342	3,195
Personal [Member]
Beginning balance	3,736	3,656
Provision	1,180	80
Write offs	0	0
Ending balance	4,916	3,736
Ending balance: individually evaluated for impairment	574	541
Ending balance: collectively evaluated for impairment	4,342	3,195
Loans Of which individually evaluated for impairment	4,477	4,570
Loans Of which collectively evaluated for impairment	$ 144,551	$ 57,940

LOANS RECEIVABLE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	$ 149,028	$ 62,510
Loans and Leases Receivable, Nonperforming, Accrual of Interest	3,357	2,156
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	3,996	3,313
Other Comprehensive Income (Loss) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loan and Lease Losses	4,916	3,736	$ 3,656
Collateral Pledged [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	132,841	7,031
Uncollateralized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	$ 16,187	$ 55,479
Maximum [Member] \| Collateral Pledged [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan period	36 months
Interest rate	21.60%	24.00%
Maximum [Member] \| Uncollateralized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan period	36 months
Interest rate	28.00%	28.08%
Minimum [Member] \| Collateral Pledged [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	6.00%	6.00%
Minimum [Member] \| Uncollateralized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	1.00%	1.00%

PROPERTY AND EQUIPMENT, NET (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 669,742	$ 364,259
Less: Accumulated depreciation	(78,187)	(62,759)
Construction in progress	30,590	18,397
Property plant and equipment Net	622,145	319,897
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	576,467	263,392
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	24,892	40,288
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	1,408	1,531
Leasehold Improvement [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	16,244	21,627
Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 50,731	$ 37,421

PROPERTY AND EQUIPMENT, NET (Schedule capitalized interest costs as a component of the cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Interest cost capitalized	$ 756	$ 0
Interest cost charged against income	16,153	20,791	$ 8,904
Total interest cost incurred	$ 16,909	$ 20,791

PROPERTY AND EQUIPMENT, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 27,961	$ 25,004	$ 14,668
Scenario One [Member]
Property, Plant and Equipment [Line Items]
Building	$ 15,972

DEPOSIT FOR NON-CURRENT ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deposit Assets	$ 41,107	$ 224,506
Debt Instrument, Collateral Amount	18,403	87,920
PRC in Beijing [Member]
Interest free non-refundable deposits for buildings		224,507
PRC in Chongqing [Member]
Interest free non-refundable deposits for buildings	13,758	13,084
PRC in Changzhou, Jiangsu Province [Member]
Interest free non-refundable deposits for buildings	499	$ 2,236
PRC in wuhan [Member]
Interest free non-refundable deposits for buildings	$ 41,107

OTHER NON-CURRENT ASSETS (Schedule of other non-current assets ) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Cost-method Investments [Line Items]
Rental and other deposits	$ 852	$ 4,933
Rental deposits paid to lessors for sublease services	409	1,711
Others	765	747
Other non-current assets	$ 2,026	$ 7,391

SHORT-TERM AND LONG-TERM LOANS (Schedule of Short-term and Long-term Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Short-term loans	$ 236,985	$ 212,734
Long-term loans	$ 114,109	$ 65,190

SHORT-TERM AND LONG-TERM LOANS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended		121 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Nov. 11, 2027
Debt Instrument [Line Items]
Bank deposit, serves as bank borrowing security, classified as current	$ 223,002	$ 211,084
Long-term Debt	466,794
Short-term Debt	236,985	212,734
Debt Instrument, Collateral Amount	18,403	87,920
Restricted Cash, Noncurrent	39,982	0
Buildings and Land [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral Amount	58,108
Bank Borrowings One [Member]
Debt Instrument [Line Items]
Long-term Debt	770
Bank Borrowings One [Member] \| Scenario, Forecast [Member]
Debt Instrument [Line Items]
Repayments of Bank Debt			$ 32,112
Debt Instrument, Interest Rate Terms			bears interest rate of 4.1% for the first 3 years; thereafter the interest rate will be floating at Industrial and Commercial Bank of China (USA) NA Prime plus 1.0%
Bank Borrowings Three [Member]
Debt Instrument [Line Items]
Loans Payable to Bank, Current	$ 83,771	87,920
Debt Instrumen tInterest Rate Stated Percentage	4.90%
Bank Borrowings Four [Member]
Debt Instrument [Line Items]
Debt Instrumen tInterest Rate Stated Percentage	4.90%
Denominated Bank Borrowing [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 46,985	22,734
Short-term Debt	$ 190,000	190,000
Debt Instrumen tInterest Rate Stated Percentage	4.10%
Restricted Cash, Noncurrent	$ 7,843
CHINA \| Buildings and Land [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral Amount	237,055
CHINA \| Bank Borrowings Two [Member]
Debt Instrument [Line Items]
Loans Payable to Bank, Current	$ 26,809
Debt Instrument, Description of Variable Rate Basis	bear interest rates of three month LIBOR plus 2.8%
Restricted Cash and Cash Equivalents, Noncurrent	$ 32,139
CHINA \| Bank Borrowings Four [Member]
Debt Instrument [Line Items]
Loans Payable to Bank	18,403
Mortgages [Member]
Debt Instrument [Line Items]
Loans Payable, Current		$ 9,310
Loans Payable to Bank, Current	$ 11,429
Short Term Debt [Member]
Debt Instrument [Line Items]
Debt instrument, interest rates above LIBOR	1.00%	1.25%
Short-term Debt		$ 22,730
Short-term Debt, Weighted Average Interest Rate	2.32%	1.40%
Debt Instrument, Description of Variable Rate Basis	LIBOR	LIBOR
Debt Instrument, Interest Rate, Basis for Effective Rate	bear interest rates of three month London Interbank Offered Rate (“LIBOR”) plus 1.25% (2016: LIBOR plus 1.0%).
Short Term Debt [Member] \| Bank Borrowings Three [Member]
Debt Instrument [Line Items]
Short-term Debt	$ 43,333
Short Term Debt [Member] \| Bank Borrowings Four [Member]
Debt Instrument [Line Items]
Short-term Debt	2,882
Long Term Debt [Member] \| Maturity on Demand [Member]
Debt Instrument [Line Items]
Loans Payable, Current	$ 31,904	$ 13,420

ACCRUED EXPENSES AND OTHER LIABILITIES (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($)
$ in Thousands

Dec. 31, 2017

Dec. 31, 2016

Payroll and welfare benefit

$ 19,152

$ 18,467

Other taxes and surcharges payable

^[1]

38,669

39,824

Accrued unrecognized tax benefits and related interest and penalties

121,856

Amounts payable to employees

2,794

2,162

Amounts payable to sales and marketing agents

46,529

74,669

Amounts due to foremen and suppliers of decoration services

3,693

4,872

Amounts due to Tianxiajin investors

357

1,530

Down payments collected on behalf of secondary home sellers

1,806

3,116

Cash incentives payable to home buyers

^[2]

12,018

14,271

Amounts payable for purchase of treasury stock

^[3]

9,861

Others

33,781

27,911

Accrued expenses and other liabilities

$ 158,799

$ 318,539

[1]	Other taxes and surcharges payable consist of VAT, cultural construction fee (“CCF”), city construction tax (“CCT”) and withholding individual income tax (“IIT”).
[2]	Cash incentives payable to home buyers, are payable when home buyers successfully purchase new properties through the Company’s platform and successfully registers on the Company’s website.
[3]	This amount represents the purchase of treasury stock. The balance was subsequently settled in January 2017.

CUSTOMERS' REFUNDABLE FEES (Schedule of customers' refundable fees) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance at beginning of year	$ 28,630	$ 59,107
Cash received from customers during the year	69,148	371,837
Revenue recognized during the year	(30,998)	(272,083)
Payments to sales and marketing agents during the year	(36,836)	(33,251)
Refunds paid during the year	(23,941)	(90,061)
Amounts payable to real estate developers	0	(4,674)
Foreign currency translation adjustments	1,067	(2,245)
Balance at end of year	$ 7,070	$ 28,630

CONVERTIBLE SENIOR NOTES (principal amount and unamortized discount and debt issuance costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Principal amount	$ 305,700	$ 305,700
Unamortized discount and debt issuance costs	(8,635)	(10,432)
Debt Issuance Costs, Net	$ 297,065	$ 295,268

CONVERTIBLE SENIOR NOTES (Schedule of future principal payments) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Aggregate future principal payments for long-term debt, including short-term loans
2018	$ 52,685
2019	35,296
2020	8,488
2021	8,488
2022 and thereafter	361,837
Total	$ 466,794

CONVERTIBLE SENIOR NOTES (Narrative) (Details) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended			13 Months Ended
	Dec. 15, 2016 USD ($)	Nov. 04, 2015 USD ($) $ / shares shares	Sep. 24, 2015 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 24, 2016	Dec. 31, 2017 $ / shares	Dec. 31, 2016 $ / shares	Dec. 04, 2013 USD ($) $ / shares	Sep. 30, 2010 $ / shares
Debt Instrument [Line Items]
Total net proceeds from issuance of senior convertible notes				$ 0	$ 0	$ 300,000
Debt Interest expense				16,153	20,791	$ 8,904
Repayments of Convertible Debt				$ 0	$ 394,300
Carlyle Group [Member]
Debt Instrument [Line Items]
Minimum percentage of Company's total outstanding share capital to be owned by related party							1.00%
Percentage interest owned			72.00%
Ateefa Limited [Member]
Debt Instrument [Line Items]
Percentage interest owned			28.00%
Common Class A [Member]
Debt Instrument [Line Items]
Shares Issued \| shares \| shares		8,436,581	3,418,803
Consideration received from shares issued		$ 246,770	$ 100,000
Aggregate principle amount			$ 100,000
Convertible senior notes, due date		Nov. 03, 2022	Sep. 24, 2022
Convertible senior notes, interest rate		2.00%	1.50%
Total net proceeds from issuance of senior convertible notes		$ 446,059	$ 199,645
Ordinary shares, par value \| $ / shares								$ 1	$ 1		$ 1.00
November 2022 [Member]
Debt Instrument [Line Items]
Convertible senior notes, conversion price \| $ / shares				$ 35.83
Beneficial conversion feature (BCF) recognized				$ 12,113
Debt discount				$ 12,113
Ordinary shares, par value \| $ / shares				$ 38.00
2.00% Convertible Senior Notes due December 15, 2018 [Member] \| Overallotment Option [Member]
Debt Instrument [Line Items]
Consideration received from shares issued				$ 50,000
2.00% Convertible Senior Notes due December 15, 2018 [Member] \| Senior Notes Additional [Member]
Debt Instrument [Line Items]
Consideration received from shares issued				$ 400,000
December 2018 Notes [Member]
Debt Instrument [Line Items]
Aggregate principle amount										$ 1,000
Convertible senior notes, interest rate				2.86%
Convertible senior notes, conversion price \| $ / shares										$ 103.26
Convertible senior notes, repurchase price percentage of principal amounts of notes	98.60%
Total net proceeds from issuance of senior convertible notes				$ 390,455
Repayments of Convertible Debt	$ 394,300
Reclassification of convertible notes				5,700
Debt Related Commitment Fees and Debt Issuance Costs				$ 9,545
September 2022 Notes [Member]
Debt Instrument [Line Items]
Aggregate principle amount			$ 1,000
Convertible senior notes, interest rate				1.56%
Number of ADSs issuable upon conversion of notes per $1,000 principal amount		1.00
Convertible senior notes, conversion price \| $ / shares		$ 35.83	$ 0
Debt Conversion, Converted Instrument, Shares Issued \| shares		27.9086	27.9086
Debt Related Commitment Fees and Debt Issuance Costs				$ 355
November 2022 Notes [Member]
Debt Instrument [Line Items]
Aggregate principle amount		$ 1,000
Convertible senior notes, interest rate				1.56%
Debt Related Commitment Fees and Debt Issuance Costs				$ 711

SHAREHOLDERS' EQUITY (Details Textual)	1 Months Ended	12 Months Ended
SHAREHOLDERS' EQUITY (Details Textual)	Sep. 30, 2010 $ / shares shares	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2017 $ / shares	Dec. 31, 2016 $ / shares	Dec. 31, 2015 shares	Feb. 10, 2015 USD ($)
Shareholders Equity [Line Items]
Shares Authorized	600,000,000
Declaration of dividends \| $							$ 82,751,000
Regulatory Restrictions on Payment of Dividends		10
Restricted net assets \| $		$ 983,333,000	$ 742,676,000
Treasury Stock, Value \| $		136,615,000	$ 136,615,000
Treasury Stock [Member]
Shareholders Equity [Line Items]
Treasury Stock, Value \| $		$ 136,615
Domestic [Member]
Shareholders Equity [Line Items]
Description of Other Additional Regulatory Limitations		Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide a statutory common reserve of at least 10% of its annual after-tax profit until such reserve has reached 50% of its respective registered capital based on the enterprises PRC statutory accounts.
Common Class A [Member]
Shareholders Equity [Line Items]
Ordinary shares converted	50,767,426
Ordinary shares, par value \| $ / shares	$ 1.00			$ 1	$ 1
Ordinary Shares, Shares issued		71,425,120	71,077,816			70,736,679
Ordinary Shares, Shares outstanding		64,360,062	64,012,758			70,736,679
Common Class A [Member] \| Common Stock [Member]
Shareholders Equity [Line Items]
Treasury Stock, Shares, Acquired			7,065,058
Common Class B [Member]
Shareholders Equity [Line Items]
Ordinary shares converted	25,298,329
Ordinary shares, par value \| $ / shares				$ 1	$ 1
Ordinary shares, voting rights	10
Ordinary Shares, Shares issued		24,336,650	24,336,650
Ordinary Shares, Shares outstanding		24,336,650	24,336,650
Common Class B [Member] \| Common Stock [Member]
Shareholders Equity [Line Items]
Treasury Stock, Shares, Acquired

TAXATION (Schedule of Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
PRC	$ 56,101	$ (136,773)	$ (5,008)
Non-PRC	(12,955)	(7,878)	(16,030)
Income (loss) before income taxes and noncontrolling interests	$ 43,146	$ (144,651)	$ (21,038)

TAXATION (Schedule of Income Tax Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Current tax expense	$ 21,759	$ 27,685	$ 26,456
Deferred tax benefit	(317)	(2,250)	(32,361)
Income Tax Expense Benefit	$ 21,442	$ 24,984	$ (5,905)

TAXATION (Schedule of Reconciliation between Amount of Income Tax Expenses and Amount Computed by Applying Statutory Tax Rate to Income before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Income (loss) before income taxes	$ 43,146	$ (144,651)	$ (21,038)
Income tax at applicable tax rate of 25%	10,786	(36,163)	(5,260)
Effect of international tax rate differences	472	(598)	847
Non-deductible expenses	7,360	24,135	2,145
Effect of tax holidays or preferential tax rates	(12,001)	(5,759)	(5,985)
Effect of tax rate changes	(1,725)	0	0
Investment basis difference in the PRC Domestic Entities	2,696	(2,757)	(335)
Withholding tax	0	0	(30,578)
Research and development super-deduction	0	0	(1,667)
Changes in valuation allowance	(8,849)	30,856	28,041
Unrecognized tax benefits	(4,302)	0	(8,133)
Changes in interest and penalties on unrecognized tax benefits	9,307	15,270	15,020
Effective Income Tax Reconciliation Adjustments Total, Total	$ 21,442	$ 24,984	$ (5,905)

TAXATION (Schedule of Roll-forward of Unrecognized Tax Benefits, Exclusive of Related Interest and Penalties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Balance at beginning of year	$ 78,933	$ 70,296	$ 50,983
Increase relating to prior year tax positions	4,192	5,070	32,227
Increase relating to current year tax positions	10,666	4,769	5,124
Decrease relating to reversal of prior years' tax position	(14,102)	0	(14,059)
Decrease relating to expiration of applicable statute of limitations	(4,586)	0	(1,787)
Foreign currency translation adjustments	4,333	(1,202)	(2,192)
Balance at end of year	$ 79,436	$ 78,933	$ 70,296

TAXATION (Schedule of Aggregate Amount and Per Share Effect of Tax Holidays and Preferential Tax Rates) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Holiday [Line Items]
The aggregate amount	$ (12,001)	$ (5,759)	$ (5,985)
Basic Earnings Per Share [Member]
Income Tax Holiday [Line Items]
Aggregate tax benefit per share	$ 0.14	$ 0.06	$ 0.07
Diluted Earnings Per Share [Member]
Income Tax Holiday [Line Items]
Aggregate tax benefit per share	$ 0.13	$ 0.06	$ 0.07

TAXATION (Schedule of Components of Deferred Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets
Net operating losses	$ 74,040	$ 63,227
Impairment of funds receivable	0	348
Impairment of loans receivable	274	65
Overcharged advertising and promotion fee	87	90
Fix assets depreciation	49	0
Share based compensation	6,167	5,351
Less: Valuation allowance	(73,015)	(64,166)
Total deferred tax assets, net	7,602	4,915
Deferred tax liabilities
Investment basis in the PRC entities	(61,961)	(57,413)
BaoAn Acquisition - Property	(13,309)	(13,011)
Available-for-sale securities	(51,096)	0
Trading securities	(133)	0
Interest capitalization	(142)	0
Deferred tax liabilities	$ (126,641)	$ (70,424)

TAXATION (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
TAXATION (Narrative) (Details) - USD ($) $ in Thousands	Dec. 22, 2017	Apr. 30, 2009	Apr. 14, 2008	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2012	Dec. 31, 2014
Income Tax [Line Items]
Unrecognized Tax benefits					$ 79,436	$ 78,933	$ 70,296		$ 50,983
Transitional enterprise income tax rate					25.00%
Unrecognized tax benefit that would impact the effective tax rate					$ 77,561	67,346
Income tax expenses for interest and penalties					9,593	15,270	$ 15,020
Accrued Interest and penalties related to unrecognized tax benefits					67,355	54,510
Net Operating loss carry forwards					4,100
Deferred Tax Liabilities					28,716	28,716
Deferred Tax Liabilities					33,246	29,297
Temporary differences related to withholding taxes on undistributed earnings of subsidiaries					338,695
Temporary differences related to investment in subsidiaries					$ 61,961	57,413
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%				35.00%
Deferred Tax Assets, At Federal Statutory Income Tax Rate					$ 13,834
Scenario, Plan [Member]
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%			21.00%
Accrued Expenses And Other Liabilities [Member]
Income Tax [Line Items]
Unrecognized Tax benefits					144,915	121,856
PRC Domestic Entities and the PRC Domestic Entities' subsidiaries [Member]
Income Tax [Line Items]
Temporary differences related to withholding taxes on undistributed earnings of subsidiaries						309,641
Temporary differences related to investment in subsidiaries					$ 33,869	$ 30,964
Hong Kong [Member]
Income Tax [Line Items]
Preferential tax rate					16.50%
Tax years open to examination					tax years 2012 through 2017
CHINA
Income Tax [Line Items]
Tax years open to examination					tax years 2012 through 2017
United States [Member]
Income Tax [Line Items]
Tax years open to examination					tax years 2015 through 2017
SINGAPORE
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					8.50%
Latest Tax Year [Member]
Income Tax [Line Items]
Operating loss carry forwards expiration date					2022
Earliest Tax Year [Member]
Income Tax [Line Items]
Operating loss carry forwards expiration date					2018
Maximum [Member] \| Hong Kong [Member]
Income Tax [Line Items]
Examination period of the company's tax filings					6 years
Maximum [Member] \| CHINA
Income Tax [Line Items]
Examination period of the company's tax filings					5 years
Maximum [Member] \| United States [Member]
Income Tax [Line Items]
Examination period of the company's tax filings					3 years
Enterprise Income Tax Law [Member]
Income Tax [Line Items]
Transitional enterprise income tax rate					25.00%
Statutory Tax Rate			15.00%
Reduced enterprise income tax rate		15.00%
SouFun Media ,Beijing Zhongzhi, SouFun Network, Beijing Technology and Beijing JTX Technology [Member]
Income Tax [Line Items]
Preferential tax rate					15.00%	15.00%		15.00%
Xinjiang Zhongzhi [Member]
Income Tax [Line Items]
Reduced enterprise income tax rate					0.00%

SHARE-BASED PAYMENTS - (Summary of Equity Award Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 29, 2017	Dec. 31, 2017	Dec. 31, 2016
Number of Share
Replaced	1,377,730
Weighted Average Exercise Price
Granted (replacement option)			$ 30,000
Employees and Directors [Member]
Number of Share
Outstanding, December 31, 2016		7,241,667
Granted (new options)		60,964
Granted (replacement options)		153,036
Forfeited (up to the replacement)		(235,194)
Forfeited (after the replacement)		(586,874)
Expired		(209,632)
Exercised		(368,320)
Replaced		(1,377,730)
Vested and expected to vest at December 31, 2017		7,241,667
Exercisable at December 31, 2017		5,796,713
Weighted Average Exercise Price
Outstanding, December 31, 2016		$ 15.38
Granted (new option)		17.53
Granted (replacement option)		18.10
Forfeited (up to the replacement)		22.38
Forfeited (after the replacement)		23.65
Expired		27.89
Exercised		11.92
Replaced		28.92
Outstanding, December 31, 2017		11.93	15.38
Vested and expected to vest at December 31, 2017		11.93
Exercisable at December 31, 2016		9.77
Weighted Average Grant Date Fair Value
Outstanding, December 31, 2016		5.77
Granted (new option)		8.22
Granted (replacement option)		8.45
Forfeited (up to the replacement)		9.28
Forfeited (after the replacement)		8.93
Expired		8.25
Exercised		4.59
Replaced		9.02
Outstanding Ending Balance		5.51	$ 5.77
Vested and expected to vest at December 31, 2017		5.51
Exercisable at December 31, 2017		$ 4
Weighted Average Remaining Contractual Term
Outstanding Beginning Balance		6 years 2 months 12 days
Outstanding Ending Balance		5 years 4 days
Vested and expected to vest at December 31, 2016		5 years 4 days
Exercisable at December 31, 2016		3 years 6 months
Aggregated Intrinsic Value
Outstanding Beginning Balance		$ 10,011
Outstanding Ending Balance		136,242	$ 10,011
Vested and expected to vest at December 31, 2016		136,242
Exercisable at December 31, 2016		$ 123,795

SHARE-BASED PAYMENTS - (Summary Of Restricted Shares Granted) (Details) - $ / shares	1 Months Ended	12 Months Ended
	Aug. 29, 2017	Dec. 31, 2017	Dec. 31, 2016
Granted (replacement restricted shares)			$ 30,000
Employees and Directors [Member]
Unvested, December 31, 2016		9,805,417
Granted (new restricted shares)		60,964
Granted (replacement options)		153,036
Expired		209,632
Unvested, December 31, 2017			9,805,417
Outstanding, December 31, 2016		$ 15.38
Granted (new restricted shares)		17.53
Granted (replacement restricted shares)		18.10
Expired		27.89
Outstanding, December 31, 2017		$ 11.93	$ 15.38
Restricted Stock [Member]
Unvested, December 31, 2016		0
Granted (new restricted shares)		427,125
Granted (replacement options)	1,224,694	1,224,694
Forfeited		(47,051)
Expired		0
Unvested, December 31, 2017		1,604,768	0
Outstanding, December 31, 2016		$ 0
Granted (new restricted shares)		17.55
Granted (replacement restricted shares)		17.55
Forfeited		17.55
Expired		0
Outstanding, December 31, 2017		$ 17.55	$ 0

SHARE-BASED PAYMENTS - (Schedule of Assumptions Used to Estimate Fair Value) (Details)	12 Months Ended
	Dec. 31, 2017 $ / shares
Minimum [Member]
Assumptions Used To Determine Fair Value Options [Line Items]
Risk-free interest rate	1.81%
Expected volatility range	46.62%
Weighted average expected life	6 years 3 months
Fair value of ordinary share	$ 14.25
Maximum [Member]
Assumptions Used To Determine Fair Value Options [Line Items]
Risk-free interest rate	2.39%
Expected volatility range	61.24%
Weighted average expected life	6 years 4 months 6 days
Fair value of ordinary share	$ 17.55

SHARE-BASED PAYMENTS - (Schedule of Share - Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share Based Compensation Expense	$ 7,218	$ 6,552	$ 4,402
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share Based Compensation Expense	364	443	471
Selling expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share Based Compensation Expense	479	512	446
General and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share Based Compensation Expense	$ 6,375	$ 5,597	$ 3,485

SHARE-BASED PAYMENTS - (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		12 Months Ended
	Jun. 04, 2015	Aug. 04, 2010	Aug. 29, 2017	Sep. 01, 1999	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options					$ 2,953	$ 10,011	$ 12,853
Recognition period for cost related to options					2 years 4 months 13 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized					$ 10,725
Share-based Compensation Arrangement by Share-based Payment Award,Options, Replaced in Period, Gross			1,377,730
Share-based Compensation Arrangement by Share-based Payment Award,Replacement Options, Grants in Period,Weighted Average Exercise Price						$ 30,000
Incremental Share Based Compensation			$ 12,537
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based awards expiration period					4 years
Recognition period for cost related to options					3 years 8 months 1 day
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized					$ 17,714
Share-based Compensation Arrangement by Share-based Payment Award,Replacement Options, Grants in Period, Gross			1,224,694		1,224,694
Share-based Compensation Arrangement by Share-based Payment Award,Replacement Options, Grants in Period,Weighted Average Exercise Price					$ 17.55
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 17.55
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based awards expiration period					4 years
Share-based Compensation Arrangement by Share-based Payment Award,Replacement Options, Grants in Period, Gross			153,036
Share-based Compensation Arrangement by Share-based Payment Award,Replacement Options, Grants in Period,Weighted Average Exercise Price			$ 18.1
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Shares Issuable to Director and Employees	1.50%
Stock Incentive Plan 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Shares Issuable to Director and Employees		10.00%
Stock Plan 1999 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Shares Issuable to Director and Employees				12.00%
Return Period of Awards in case of cessation of employment and violation of certain provisions					2 years
Percent of awards vest					10.00%
Percent of awards vest					20.00%
Percent of awards vest					40.00%
Percent of awards vest					30.00%
Stock Plan 1999 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based awards expiration period					15 years
Stock Plan 1999 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based awards expiration period					10 years
Stock Related Award Incentive Plan Of 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized					$ 7,447

RELATED PARTY TRANSACTIONS (Summary of Related Parties Transaction by Related Party) (Details)	12 Months Ended
	Dec. 31, 2017
Vincent Tianquan Mo [Member]
Related Party Transaction [Line Items]
Relationship with the Group	Executive chairman of the board of directors and chief executive officer
Richard Jiangong Dai [Member]
Related Party Transaction [Line Items]
Relationship with the Group	Director of the board up until February 25, 2016
Wall Street Global Training Center [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo and two other independent directors
Beihai Silver Beach [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Che Tian Xia Company [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo and Richard Jiangong Dai
Guangxi Wharton [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Research Center [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Upsky Long Island [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Upsky San Francisco [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Upsky Lighthouse Hotel [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
Nanning Xuyin Business [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company under the control of Vincent Tianquan Mo
New York Military Academy [Member]
Related Party Transaction [Line Items]
Relationship with the Group	A company of which Vincent Tianquan Mo is a director

RELATED PARTY TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Office Building Lease	$ 159	$ 154	$ 169
Vincent Tianquan Mo [Member]
Related Party Transaction [Line Items]
Office Building Lease	159	154	169
Beihai Silver Beach [Member] \| Management Services [Member]
Related Party Transaction [Line Items]
Service fee incurred	501	421	470
Beihai Silver Beach [Member] \| Hotel Operating Costs [Member]
Related Party Transaction [Line Items]
Service fee incurred	0	113	0
Upsky San Francisco [Member] \| Hotel Operating Costs [Member]
Related Party Transaction [Line Items]
Service fee incurred	0	17	20
Upsky Lighthouse [Member] \| Hotel Operating Costs [Member]
Related Party Transaction [Line Items]
Service fee incurred	0	0	1
Upsky Long Island [Member] \| Hotel Operating Costs [Member]
Related Party Transaction [Line Items]
Service fee incurred	0	81	116
New York Military Academy [Member] \| Training Fee [Member]
Related Party Transaction [Line Items]
Service fee incurred	$ 0	$ 111	$ 0

RELATED PARTY TRANSACTIONS (Schedule of Amounts Due to Related Party) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Beihai Silver Beach [Member]
Related Party Transaction [Line Items]
Amounts due to (from) a related party	$ 167	$ 197

RELATED PARTY TRANSACTIONS - (Narrative) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 01, 2012	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($) shares	Dec. 31, 2012 ft²
Transactions With Third Party [Line Items]
Free rental space \| ft²					220
Office Building Lease		$ 159	$ 154	$ 169
Tianquan Vincent Mo [Member]
Transactions With Third Party [Line Items]
Lease period	10 years
Naning Xuying [Member]
Transactions With Third Party [Line Items]
Number Of Shares Transferred \| shares				30,595,859
Beihai Silver Beach [Member] \| Management Services [Member]
Transactions With Third Party [Line Items]
Service fee incurred		501	421	$ 470
Beihai Silver Beach [Member] \| Hotel Operating Costs [Member]
Transactions With Third Party [Line Items]
Service fee incurred		0	113	0
Upsky San Francisco [Member] \| Hotel Operating Costs [Member]
Transactions With Third Party [Line Items]
Service fee incurred		0	17	20
Upsky Long Island [Member] \| Hotel Operating Costs [Member]
Transactions With Third Party [Line Items]
Service fee incurred		0	81	116
Upsky Lighthouse Hotel [Member] \| Hotel Operating Costs [Member]
Transactions With Third Party [Line Items]
Service fee incurred				$ 1
Nanning Xuyin [Member] \| Tianquan Vincent Mo [Member]
Transactions With Third Party [Line Items]
Entity owned percentage				80.00%
Guilin Bank [Member] \| Tianquan Vincent Mo [Member]
Transactions With Third Party [Line Items]
Shares hold by entity \| shares				73,430,061
Training service fee [Member]
Transactions With Third Party [Line Items]
Service fee incurred		$ 0	$ 111

COMMITMENTS AND CONTINGENCIES (Schedule of Future Minimum Lease Payments under Non Cancelable Operating Leases) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
2017	$ 12,812
2018	4,849
2019	2,294
2020	187
2021 and thereafter	113
Operating Leases, Future Minimum Payments Due, Total	$ 20,255

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Rental expenses for operating Lease	$ 27,832	$ 66,330	$ 33,769
Unrecognized Tax benefits	79,436	$ 78,933	$ 70,296	$ 50,983
Long-term Purchase Commitment, Amount	117,732
Accrued Expenses And Other Liabilities [Member]
Unrecognized Tax benefits	$ 144,915

SEGMENT REPORTING (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
United States [Member] \| Land And Building [Member]
Segment Reporting Information [Line Items]
Long Lived Tangible Assets Located Outside Country	$ 104,327	$ 57,414

EARNINGS (LOSS) PER SHARE (Schedule of Basic and Diluted Earnings Per Share) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2017 $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2016 $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2015 $ / shares shares
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share	88,475,665		93,605,749		85,170,886
Earnings (loss) per share - basic \| $ / shares	$ 0.25		$ (1.81)		$ (0.18)
Numerator:
Net income (loss) attributable to ordinary shareholders \| $	$ 21,704		$ (169,635)		$ (15,133)
Denominator:
Denominator used for diluted earnings (loss) per share	91,585,677		93,605,749		85,170,886
Earnings (loss) per share -diluted \| $ / shares	$ 0.24		$ (1.81)		$ (0.18)
Common Class B [Member]
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-basic \| $	$ 5,971		$ (44,104)		$ (4,313)
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share	24,336,650		24,336,650		24,336,650
Denominator used for basic earnings (loss) per share	24,336,650		24,336,650		24,336,650
Earnings (loss) per share - basic \| $ / shares	$ 0.25		$ (1.81)		$ (0.18)
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share \| $	$ 5,971		$ (44,104)		$ (4,313)
Effect of convertible senior notes \| $	0		0		0
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-diluted after assumed conversion \| $	5,971		(44,104)		(4,313)
Reallocation of net income (loss) attributable to ordinary shareholders as a result of conversion of Class B to Class A shares \| $	0		0		0
Net income (loss) attributable to ordinary shareholders \| $	$ 5,971		$ (44,104)		$ (4,313)
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share \| $ / shares		$ 24,336,650		$ 24,336,650		$ 24,336,650
Conversion of Class B to Class A ordinary shares	0		0		0
Employee stock options	0	0	0	0	0	0
Convertible senior notes	0		0		0
Denominator used for diluted earnings (loss) per share	24,336,650		24,336,650		24,336,650
Earnings (loss) per share -diluted \| $ / shares	$ 0.24		$ (1.81)		$ (0.18)
Common Class A [Member]
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-basic \| $	$ 15,736		$ (125,531)		$ (10,783)
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share	64,139,015		69,269,099		60,834,236
Denominator used for basic earnings (loss) per share	64,139,015		69,269,099		60,834,236
Earnings (loss) per share - basic \| $ / shares	$ 0.25		$ (1.81)		$ (0.18)
Numerator:
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share \| $	$ 15,736		$ (125,531)		$ (10,783)
Effect of convertible senior notes \| $	0		0		0
Allocation of net income (loss) attributable to ordinary shareholders used in calculating income (loss) per ordinary share-diluted after assumed conversion \| $	15,736		(125,531)		(10,783)
Reallocation of net income (loss) attributable to ordinary shareholders as a result of conversion of Class B to Class A shares \| $	5,971		(44,104)		(4,313)
Net income (loss) attributable to ordinary shareholders \| $	$ 21,707		$ (169,635)		$ (15,096)
Denominator:
Weighted average number of ordinary shares outstanding used in calculating basic earnings (loss) per share \| $ / shares		$ 64,139,015		$ 69,269,099		$ 60,834,236
Conversion of Class B to Class A ordinary shares	24,336,650		24,336,650		24,336,650
Employee stock options	3,110,012	3,110,012	0	0	0	0
Convertible senior notes	0		0		0
Denominator used for diluted earnings (loss) per share	91,585,677		93,605,749		85,170,886
Earnings (loss) per share -diluted \| $ / shares	$ 0.24		$ (1.81)		$ (0.18)

EARNINGS (LOSS) PER SHARE (Narrative) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,961,570	5,763,088
December 2018 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	290,534	4,153,642
Debt Instrument, Convertible, Conversion Price	$ 19.62	$ 19.62
September 2022 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,790,860	2,790,860
Debt Instrument, Convertible, Conversion Price	$ 7.166	$ 7.166
November 2022 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,581,720	5,581,720
Debt Instrument, Convertible, Conversion Price	$ 7.166	$ 7.166

SUBSEQUENT EVENT (Narrative) (Details) ¥ in Thousands, $ in Thousands		1 Months Ended
	Jan. 02, 2018 CNY (¥)	Feb. 28, 2018 USD ($)	Nov. 30, 2017 USD ($)
Litigation Settlement, Amount Awarded from Other Party			$ 9,310
Subsequent Event [Member]
Proceeds from Legal Settlements		$ 5,800
Chongqing Rungang Real Estate Developing Co,. Ltd [Member] \| Subsequent Event [Member]
Proceeds from Legal Settlements \| ¥	¥ 47,597

CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 228,276	$ 336,528	$ 817,921	$ 354,760
Prepayments and other current assets	32,704	39,824
Total current assets	748,412	793,210
Non-current assets:
Property and equipment, net	622,145	319,897
Long-term investments	470,964	231,880
Total non-current assets	1,251,843	821,603
Total assets	2,000,255	1,614,813
Current liabilities:
Convertible notes- current	5,700	0
Accrued expenses and other liabilities	158,799	318,539
Total current liabilities	581,812	695,690
Non-current liabilities:
Convertible senior notes	291,365	295,268
Total non-current liabilities	678,168	431,298
Total liabilities	1,259,980	1,126,988
Commitments and contingencies
Shareholders equity:
Additional paid-in capital	500,666	488,943
Accumulated other comprehensive income (loss)	137,630	(81,349)
Retained earnings	225,574	203,870
Treasury stock	(136,615)	(136,615)
Total shareholders' equity	739,583	487,130
Total liabilities and shareholders’ equity	2,000,255	1,614,813
Common Class A [Member]
Shareholders equity:
Ordinary Shares, Value	9,204	9,157
Common Class B [Member]
Shareholders equity:
Ordinary Shares, Value	3,124	3,124
Parent Company [Member]
Current assets:
Cash and cash equivalents	11,801	34,072	$ 427,156	$ 20,374
Prepayments and other current assets	1,485	491
Amounts due from subsidiaries		0
Total current assets	22,121	34,563
Non-current assets:
Property and equipment, net	0	12
Long-term investments	52,283	54,408
Investment in subsidiaries, PRC Domestic Entities and PRC Domestic Entities subsidiaries	992,902	753,117
Total non-current assets	1,045,185	807,537
Total assets	1,067,306	842,100
Current liabilities:
Accrued expenses and other liabilities	3,850	11,401
Amounts due to subsidiaries and PRC Domestic Entities	0
Total current liabilities	9,550	59,702
Non-current liabilities:
Convertible senior notes		295,268
Long-term loans	26,808	0
Total non-current liabilities	318,173	295,268
Total liabilities	327,723	354,970
Commitments and contingencies	0	0
Shareholders equity:
Additional paid-in capital	500,666	488,943
Accumulated other comprehensive income (loss)	137,630	(81,349)
Retained earnings	225,574	203,870
Treasury stock	(136,615)
Total shareholders' equity	739,583	487,130
Total liabilities and shareholders’ equity	1,067,306	842,100
Parent Company [Member] \| Common Class A [Member]
Shareholders equity:
Ordinary Shares, Value	9,204	9,157
Parent Company [Member] \| Common Class B [Member]
Shareholders equity:
Ordinary Shares, Value	$ 3,124	$ 3,124

CONDENSED BALANCE SHEETS (Details) (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2010
Class A and Class B ordinary shares, shares authorized	600,000,000	600,000,000
Common Class A [Member]
Ordinary shares, par value	$ 1	$ 1		$ 1.00
Class A and Class B ordinary shares, shares authorized	600,000,000	600,000,000
Ordinary Shares, Shares issued	71,425,120	71,077,816	70,736,679
Ordinary Shares, Shares outstanding	64,360,062	64,012,758	70,736,679
Common Class B [Member]
Ordinary shares, par value	$ 1	$ 1
Class A and Class B ordinary shares, shares authorized	600,000,000	600,000,000
Ordinary Shares, Shares issued	24,336,650	24,336,650
Ordinary Shares, Shares outstanding	24,336,650	24,336,650

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 444,296	$ 916,391	$ 883,549
Cost of revenues	(174,599)	(687,184)	(555,389)
Gross profit	269,697	229,207	328,160
General and administrative (expenses) income	(135,688)	(151,251)	(125,405)
Operating (loss) income	42,192	(151,446)	(34,473)
Interest income	11,322	11,367	22,221
Interest expenses	(16,153)	(20,791)	(16,519)
Realized gain on available-for-sale security (including accumulated other comprehensive income reclassifications for unrealized net gain on available-for-sale security of nil, nil and 10,583 for the years ended December 31, 2014, 2015 and 2016, respectively)	2,736	10,583	0
Investment income	6,692	3,281	1,333
Foreign exchange gain (loss)	15	(1,882)	1,464
Income (loss) before income taxes	43,146	(144,651)	(21,038)
Income tax expenses	(21,442)	(24,984)	5,905
Net income (loss)	21,704	(169,635)	(15,133)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	56,571	(60,732)	(55,928)
Amounts reclassified from accumulated other comprehensive income	2,736	10,583	0
Unrealized gain (loss) on available-for-sale securities	163,272	7,326	(4,002)
Gain (loss) on intra-entity foreign transactions of long-term-investment nature	1,872	(6,996)
Other Comprehensive Income (Loss), before Tax	268,545	(70,985)	(59,930)
Other Comprehensive Income (Loss), Tax	(49,566)	0	0
Other comprehensive income (loss), net of tax	218,979	(70,985)	(59,930)
Comprehensive income (loss)	240,683	(240,620)	(75,063)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues
Cost of revenues
Gross profit
General and administrative (expenses) income	(998)	3,610	3,023
Operating (loss) income	(998)	3,610	3,023
Equity in profits (losses) of subsidiaries, PRC Domestic Entities and PRC Domestic Entities' subsidiaries	27,339	(167,967)	(6,254)
Interest income	196	1,775	260
Interest expenses	(7,233)	(17,807)	(12,108)
Realized gain on available-for-sale security (including accumulated other comprehensive income reclassifications for unrealized net gain on available-for-sale security of nil, nil and 10,583 for the years ended December 31, 2014, 2015 and 2016, respectively)	2,736
Investment income	2,221
Other-than-temporary impairment on available-for-sale securities	(2,768)		0
Foreign exchange gain (loss)	211	832	(17)
Income (loss) before income taxes	21,704	(169,635)	(15,096)
Income tax expenses
Net income (loss)	21,704	(169,635)	(15,096)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	56,571	(60,732)	(55,928)
Amounts reclassified from accumulated other comprehensive income	(2,736)
Unrealized gain (loss) on available-for-sale securities	14,575	7,326	(4,002)
Other comprehensive income (loss) recorded by subsidiaries, PRC Domestic Entities and PRC Domestic Entities’ subsidiaries	198,263	0	0
Gain (loss) on intra-entity foreign transactions of long-term-investment nature	1,872	(6,996)	0
Other Comprehensive Income (Loss), before Tax	268,545	(70,985)	(59,930)
Other Comprehensive Income (Loss), Tax	(49,566)	0	0
Other comprehensive income (loss), net of tax	218,979	(70,985)	(59,930)
Comprehensive income (loss)	$ 240,683	$ (240,620)	$ (75,026)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Details) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accumulated other comprehensive income reclassifications for unrealized net gains on available-for-sale security	$ 2,736	$ 10,583
Parent Company [Member]
Accumulated other comprehensive income reclassifications for unrealized net gains on available-for-sale security	$ 2,736	$ 10,583

CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 126,889	$ 131,240	$ (165,310)
Net cash (used in) provided by investing activities	(284,512)	(127,946)	58,562
Net cash (used in) provided by financing activities	34,010	(465,615)	587,471
Net (decrease) increase in cash and cash equivalents	(108,252)	(481,393)	463,161
Cash and cash equivalents at beginning of year	336,528	817,921	354,760
Cash and cash equivalents at end of year	228,276	336,528	817,921
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(67,381)	117,398	(4,718)
Net cash (used in) provided by investing activities	13,931	11,575	(78,196)
Net cash (used in) provided by financing activities	31,179	(522,057)	489,695
Net (decrease) increase in cash and cash equivalents	(22,271)	(393,084)	406,781
Cash and cash equivalents at beginning of year	34,072	427,156	20,374
Cash and cash equivalents at end of year	$ 11,801	$ 34,072	$ 427,156

DEPOSIT FOR NON-CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Non-refundable deposit	$ 58,722	$ 240,712
Buildings [Member]
Non-refundable deposit	55,364	239,827
Others [Member]
Non-refundable deposit	$ 3,358	$ 885