UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For the month of March 2021

Commission File Number: 001-34862

FANG HOLDINGS LIMITED

(Exact name of registrant as specified in its charter)

Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x  Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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EXHIBIT INDEX

3

Exhibit 99.1

Fang Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results

BEIJING, March 26, 2021 /PRNewswire/ — Fang Holdings Limited (NYSE: SFUN) (“Fang” or the “Company”), a leading real estate Internet portal in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020.

Fourth Quarter 2020 Highlights

·                  Total revenues were $56.5 million, an increase of 14.6% from $49.3 million in the corresponding period of 2019.

·                  Operating income from continuing operations was $5.9 million, compared to an operating loss from continuing operations of $21.0 million in the corresponding period of 2019.

·                  Net loss was $76 thousand, compared to a net loss of $26.2 million in the corresponding period of 2019.

Fiscal Year 2020 Highlights

·                  Total revenues were $216.2 million, a decrease of 1.6% from $219.7 million in 2019.

·                  Operating income from continuing operations was $32.7 million, an increase of 31.4% from $24.9 million in 2019.

·                  Net loss was $6.5 million, compared to a net loss of $10.3 million in 2019.

Fourth Quarter 2020 Financial Results

Revenues

Fang reported total revenues of $56.5 million in the fourth quarter of 2020, an increase of 14.6% from $49.3 million in the corresponding period of 2019.

·                      Revenue from marketing services was $30.1 million in the fourth quarter of 2020, an increase of 59.1% from $18.9 million in the corresponding period of 2019.

·                      Revenue from listing services was $9.7 million in the fourth quarter of 2020, a decrease of 23.1% from $12.7 million in the corresponding period of 2019, mainly due to the decrease in the number of paying customers.

·                      Revenue from leads generation services was $11.5 million in the fourth quarter of 2020, a decrease of 20.0% from $14.4 million in the corresponding period of 2019.

·                      Revenue from financial services was $3.9 million in the fourth quarter of 2020, an increase of 175.9% from $1.4 million in the corresponding period of 2019, mainly due to the increase in average loan receivable balance.

Cost of Revenue

Cost of revenue was $3.5 million in the fourth quarter of 2020, a decrease of 13.2% from $4.1 million in the corresponding period of 2019, primarily due to the optimization in cost structure.

Operating Expenses

Operating expenses were $42.2 million in the fourth quarter of 2020, a decrease of 38.3% from $68.4 million in the corresponding period of 2019.

·                      Selling expenses were $16.4 million in the fourth quarter of 2020, a decrease of 37.8% from $26.3 million in the corresponding period of 2019, mainly due to the decrease in staff cost and promotional expense.

·                      General and administrative expenses were $25.8 million in the fourth quarter of 2020, a decrease of 38.6% from $42.1 million in the corresponding period of 2019, mainly due to the decrease in staff related costs.

Operating income/(loss) from Continuing Operations

Operating income from continuing operations was $5.9 million in the fourth quarter of 2020, compared to operating loss from continuing operations of $21.0 million in the corresponding period of 2019.

Change in Fair Value of Securities

Change in fair value of securities for the fourth quarter of 2020 was a loss of $2.3 million, compared to a loss of $3.5 million in the corresponding period of 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Benefits

Income tax benefits were $4.2 million in the fourth quarter of 2020, an increase of 24.3% from $3.4 million in the corresponding period of 2019.

Net Loss

Net loss was $76 thousand in the fourth quarter of 2020, compared to a net loss of $26.2 million in the corresponding period of 2019.

Fiscal Year 2020 Financial Results

Revenues

Fang reported total revenues of $216.2 million for 2020, a decrease of 1.6% from $219.7 million in 2019.

·                      Revenue from marketing services was $109.1 million for 2020, an increase of 15.2% from $94.6 million in 2019.

·                      Revenue from listing services was $44.2 million for 2020, a decrease of 30.4% from $63.5 million in 2019, mainly due to the decreased number of paying members in listing services.

·                      Revenue from leads generation services was $47.8 million for 2020, an increase of 10.4% from $43.3 million in 2019, driven by the increase in effectiveness of services and customer acceptance.

·                      Revenue from financial services was $9.1 million for 2020, a decrease of 5.0% from $9.6 million in 2019.

Cost of Revenue

Cost of revenue was $17.6 million for 2020, a decrease of 37.7% from $28.3 million in 2019, primarily due to optimization in cost structure.

Operating Expenses

Operating expenses were $163.4 million for 2020, a decrease of 5.6% from $173.1 million in 2019.

·                      Selling expenses were $59.2 million for 2020, a decrease of 19.6% from $73.7 million in 2019.

·                      General and administrative expenses were $104.1 million for 2020, an increase of 4.7% from $99.4 million in 2019.

Operating Income from Continuing Operations

Operating income from continuing operations was $32.7 million for 2020, an increase of 31.4% from $24.9 million in the corresponding period of 2019.

Change in Fair Value of Securities

Change in fair value of securities for 2020 was a loss of $26.2 million, compared to a loss of $46.1 million in 2019, mainly due to the fluctuation in market price of investments in equity securities.

Income Tax Benefits

Income tax benefits were $4.5 million for 2020, a decrease of 53.1% from $9.5 million in 2019, mainly due to the effect of change in fair value of equity securities.

Net Loss

Net loss was $6.5 million for 2020, compared to a net loss of $10.3 million in 2019.

Business Outlook

Based on current operations and market conditions, Fang’s management predicts a positive net income for the year of 2021, which represents management’s current and preliminary view and is subject to change.

Conference Call Information

Fang’s management team will host a conference call on March 26, 2021 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong time). The dial-in details for the live conference call are:

Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode (1578624#) and unique registrant ID. Get prompted 10 min prior to the start of the conference. Enter the Direct Event Passcode above (1578624#), and your unique Registrant ID, followed by the pound or hash (#) sign to join the call.

Direct Event online registration: http://apac.directeventreg.com/registration/event/8574127

A telephone replay of the call will be available after the conclusion of the conference call from 11:00 AM ET on March 26, 2021 through 8:59 AM ET April 3, 2021. The dial-in details for the telephone replay are:

A live and archived webcast of the conference call will be available on Fang’s website at http://ir.fang.com.

About Fang

Fang operates a leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, Fang provides primarily marketing, listing, leads generation and financial services for China’s fast-growing real estate and home furnishing and improvement sectors. Its user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home furnishing and improvement sectors in China. Fang currently maintains approximately 74 offices to focus on local market needs and its website and database contains real estate related content covering 665 cities in China. For more information about Fang, please visit http://ir.fang.com.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.

These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions, and include, without limitation, statements regarding Fang’s future financial performance, revenue guidance, growth and growth rates, market position and continued business transformation. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Fang’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, without limitation, the impact of Fang’s business development strategies, the impact of the COVID-19 pandemic, and the impact of current and future government policies affecting China’s real estate market. Further information regarding these and other risks, uncertainties or factors is included in Fang’s filings with the U.S. Securities and Exchange Commission. Fang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor and media inquiries, please contact:

Ms. Jessie Yang
Investor Relations Director
Email: ir@fang.com

Fang Holdings Limited

Unaudited Condensed Consolidated Balance Sheets

(in thousands of U.S. dollars, except share data and per share data)

Unaudited Condensed Consolidated Statements of Comprehensive Lossi

(in thousands of U.S. dollars, except share data and per share data)

i  On June 19, 2020, a ratio change that had the same effect as a 1-for-10 reverse ADS split took effect, and as a result, one ADS currently represents ten Class A ordinary shares.