UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 6)*

 

 

 

China Index Holdings Limited

(Name of Issuer)

 

 

 

Class A ordinary shares, par value US$0.001 per share

Class B ordinary shares, par value US$0.001 per share

(Title of Class of Securities)

 

 

 

16954W101**

(CUSIP Number)

 

 

 

Fang Holdings Limited

c/o Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

The People’s Republic of China

+86-10-5631 8010

 

Tianquan Mo

c/o Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

The People’s Republic of China

+86-10-5631 8661

 

Jiangong Dai

c/o Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

The People’s Republic of China

+86-10-5631 8268

 

Shan Li

Digital Link Investments Limited

Unit 219, 2/F Building 16W, Phase Three

Hong Kong Science Park, Pak Shek Kok

New Territories, Hong Kong SAR

+1 284 852 3810

 

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

 

October 12, 2022

(Date of Event which Requires Filing of this Statement)

 

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box. o

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-1(a) for other parties to whom copies are to be sent.

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

**This CUSIP applies to the American Depositary Shares of the issuer, evidenced by American Depositary Receipts, each representing one Class A ordinary share. No CUSIP has been assigned to the Class A ordinary shares or Class B ordinary shares of the issuer.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

CUSIP 16954W101 Schedule 13D/A Page 1 of 14 Pages

 

1.

Names of Reporting Persons.

 

Fang Holdings Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO, WC

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

Cayman Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

6,964,415 Class A Ordinary Shares

11,119,686 Class B Ordinary Shares(1)

8.

Shared Voting Power

 

0

9.

Sole Dispositive Power

 

6,964,415 Class A Ordinary Shares

11,119,686 Class B Ordinary Shares(1)

10.

Shared Dispositive Power

 

0

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

6,964,415 Class A Ordinary Shares

11,119,686 Class B Ordinary Shares(1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

10.4% of the Class A Ordinary Shares

47.0% of the Class B Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 6,964,415 Class A Ordinary Shares (including 4,534,852 Class A Ordinary Shares represented by ADSs) and 11,119,686 Class B Ordinary Shares held of record by Fang Holdings Limited.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares and 23,636,706 Class B Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the Securities and Exchange Commission (“SEC”) on August 18, 2022.

 

-1-

 

 

CUSIP 16954W101 Schedule 13D/A Page 2 of 14 Pages

 

1.

Names of Reporting Persons.

 

Tianquan Mo

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO, WC

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

People’s Republic of China

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

14,804,274 Class A Ordinary Shares

14,271,520 Class B Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

14,804,274 Class A Ordinary Shares

14,271,520 Class B Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

14,804,274 Class A Ordinary Shares

14,271,520 Class B Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

21.2% of the Class A Ordinary Shares

56.2% of the Class B Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

IN

 

-2-

 

 

CUSIP 16954W101 Schedule 13D/A Page 3 of 14 Pages

 

 

(1)Represents (i) 11,669,921 Class A Ordinary Shares (including 9,962,597 Class A Ordinary Shares represented by ADSs) held of record by ACE Smart Investments Limited; (ii) 926,461 Class B Ordinary Shares held of record by Karistone Limited and 360,421 Class A Ordinary Shares that Karistone Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock options; (iii) 25,000 Class A Ordinary Shares represented by ADSs held of record by Open Land Holdings Limited; (iv) 5,795,802 Class B Ordinary Shares held of record by Media Partner Technology Limited and 1,367,378 Class A Ordinary Shares that Media Partner Technology Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares; (v) 14,177 Class A Ordinary Shares represented by ADSs and 5,794,757 Class B Ordinary Shares held of record by Next Decade Investments Limited, and 1,367,377 Class A Ordinary Shares and 1,754,500 Class B Ordinary Shares that Next Decade Investments Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares. Each of ACE Smart Investments Limited, Karistone Limited and Open Land Holdings Limited is wholly owned by Mr. Tianquan Mo. Media Partner Technology Limited is wholly owned by The MC Trust, for which Butterfield Fiduciary Services (Cayman) Limited serves as trustee. Mr. Tianquan Mo’s wife is the sole director of Media Partner Technology Limited. Next Decade Investments Limited is wholly owned by KM & KM Trust, for which Credit Suisse Trust Limited serves as trustee. Mr. Tianquan Mo’s wife is the sole director of Next Decade Investments Limited. Mr. Tianquan Mo may be deemed to be the beneficial owner of the shares of the Issuer held by these companies.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares and 23,636,706 Class B Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022, together with (i) 360,421 Class A Ordinary Shares that Karistone Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock options; (ii) 1,367,378 Class A Ordinary Shares that Media Partner Technology Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares; and (iii) 1,367,377 Class A Ordinary Shares and 1,754,500 Class B Ordinary Shares that Next Decade Investments Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares.

 

-3-

 

 

CUSIP 16954W101 Schedule 13D/A Page 4 of 14 Pages

 

1.

Names of Reporting Persons.

 

ACE Smart Investments Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

Hong Kong SAR

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

11,669,921 Class A Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

11,669,921 Class A Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

11,669,921 Class A Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

17.5% of the Class A Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 11,669,921 Class A Ordinary Shares (including 9,962,597 Class A Ordinary Shares represented by ADSs) held of record by ACE Smart Investments Limited.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-4-

 

 

CUSIP 16954W101 Schedule 13D/A Page 5 of 14 Pages

 

1.

Names of Reporting Persons.

 

Karistone Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

360,421 Class A Ordinary Shares

926,461 Class B Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

360,421 Class A Ordinary Shares

926,461 Class B Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

360,421 Class A Ordinary Shares

926,461 Class B Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

0.5% of the Class A Ordinary Shares

3.9% of the Class B Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 926,461 Class B Ordinary Shares held of record by Karistone Limited and 360,421 Class A Ordinary Shares that Karistone Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock options.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares and 23,636,706 Class B Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022, together with 360,421 Class A Ordinary Shares that Karistone Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock options.

 

-5-

 

 

CUSIP 16954W101 Schedule 13D/A Page 6 of 14 Pages

 

1.

Names of Reporting Persons.

 

Open Land Holdings Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

Hong Kong SAR

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

25,000 Class A Ordinary Shares(1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

25,000 Class A Ordinary Shares(1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

25,000 Class A Ordinary Shares(1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

0.04% of the Class A Ordinary Shares(2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 25,000 Class A Ordinary Shares represented by ADSs held of record by Open Land Holdings Limited.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-6-

 

 

 

CUSIP 16954W101 Schedule 13D/A Page 7 of 14 Pages

 

1.

Names of Reporting Persons.

 

Media Partner Technology Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨ 

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

1,367,378 Class A Ordinary Shares

5,795,802 Class B Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

1,367,378 Class A Ordinary Shares

5,795,802 Class B Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,367,378 Class A Ordinary Shares

5,795,802 Class B Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

2.0% of the Class A Ordinary Shares

24.5% of the Class B Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 5,795,802 Class B Ordinary Shares held of record by Media Partner Technology Limited and 1,367,378 Class A Ordinary Shares that Media Partner Technology Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares and 23,636,706 Class B Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022, together with 1,367,378 Class A Ordinary Shares that Media Partner Technology Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares.

 

-7-

 

 

CUSIP 16954W101 Schedule 13D/A Page 8 of 14 Pages

 

1.

Names of Reporting Persons.

 

Next Decade Investments Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

1,381,554 Class A Ordinary Shares

7,549,257 Class B Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

1,381,554 Class A Ordinary Shares

7,549,257 Class B Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,381,554 Class A Ordinary Shares

7,549,257 Class B Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨

13.

Percent of Class Represented by Amount in Row (11)

 

2.0% of the Class A Ordinary Shares

29.7% of the Class B Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)Represents 14,177 Class A Ordinary Shares represented by ADSs and 5,794,757 Class B Ordinary Shares held of record by Next Decade Investments Limited, and 1,367,377 Class A Ordinary Shares and 1,754,500 Class B Ordinary Shares that Next Decade Investments Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares and 23,636,706 Class B Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022, together with 1,367,377 Class A Ordinary Shares and 1,754,500 Class B Ordinary Shares that Next Decade Investments Limited has the right to obtain within 60 days following October 13, 2022 by exercise of certain employee stock option and vesting of certain restricted shares.

 

-8-

 

 

CUSIP 16954W101 Schedule 13D/A Page 9 of 14 Pages

 

1.

Names of Reporting Persons.

 

Ateefa Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

0

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

0

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

0

14.

Type of Reporting Person (See Instructions)

 

CO

 

-9-

 

 

CUSIP 16954W101 Schedule 13D/A Page 10 of 14 Pages

 

1.

Names of Reporting Persons.

 

Deanhale Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

0

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

0

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

0

14.

Type of Reporting Person (See Instructions)

 

CO

 

-10-

 

 

CUSIP 16954W101 Schedule 13D/A Page 11 of 14 Pages

 

1.

Names of Reporting Persons.

 

Jiangong Dai

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

People’s Republic of China

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

246,667 Class A Ordinary Shares

8.

Shared Voting Power

 

8,801,142 Class A Ordinary Shares

9.

Sole Dispositive Power

 

246,667 Class A Ordinary Shares

10.

Shared Dispositive Power

 

8,801,142 Class A Ordinary Shares

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

9,047,809 Class A Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

13.5% of the Class A Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

IN

 

 

(1)Represents 246,667 Class A Ordinary Shares represented by ADSs held of record by Mr. Jiangong Dai and 8,801,142 held of record by True Knight Limited, which is wholly-owned by Mr. Jiangong Dai. Mr. Jiangong Dai may be deemed to be the beneficial owner of the shares of the Issuer held by True Knight Limited.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-11-

 

 

CUSIP 16954W101 Schedule 13D/A Page 12 of 14 Pages

 

1.

Names of Reporting Persons.

 

True Knight Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

8,801,142 Class A Ordinary Shares

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

8,801,142 Class A Ordinary Shares

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

8,801,142 Class A Ordinary Shares

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

13.2% of the Class A Ordinary Shares(1)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-12-

 

 

CUSIP 16954W101 Schedule 13D/A Page 13 of 14 Pages

 

1.

Names of Reporting Persons.

 

Shan Li

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

People’s Public of China

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

3,137,921 Class A Ordinary Shares (1)

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

3,137,921 Class A Ordinary Shares (1)

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

3,137,921 Class A Ordinary Shares (1)

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

4.7% of the Class A Ordinary Shares (2)

14.

Type of Reporting Person (See Instructions)

 

IN

 

 

(1)Represents 3,137,921 Class A Ordinary Shares held of record by Digital Link Investments Limited which is wholly-owned by Mr. Shan Li. Mr. Shan Li may be deemed to be the beneficial owner of the shares of the Issuer held by Digital Link Investments Limited.

 

(2)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-13-

 

 

CUSIP 16954W101 Schedule 13D/A Page 14 of 14 Pages

 

1.

Names of Reporting Persons.

 

Digital Link Investments Limited

2.

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) ¨ (b) ¨

 

3.

SEC Use Only

 

4.

Source of Funds (See Instructions)

 

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

¨

6.

Citizenship or Place of Organization

 

British Virgin Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7.

Sole Voting Power

 

0

8.

Shared Voting Power

 

3,137,921 Class A Ordinary Shares

9.

Sole Dispositive Power

 

0

10.

Shared Dispositive Power

 

3,137,921 Class A Ordinary Shares

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

3,137,921 Class A Ordinary Shares

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

¨ 

13.

Percent of Class Represented by Amount in Row (11)

 

4.7% of the Class A Ordinary Shares(1)

14.

Type of Reporting Person (See Instructions)

 

CO

 

 

(1)The percentage of the class of securities beneficially owned by each reporting person is calculated based on 66,788,662 Class A Ordinary Shares of the Issuer outstanding as of June 30, 2022, as reported in the Issuer’s Form 6-K filed with the SEC on August 18, 2022.

 

-14-

 

 

Introductory Note

 

This Amendment No. 6 to Schedule 13D (as so amended, this “Schedule 13D”) is being filed to amend the Schedule 13D as originally filed with the Securities and Exchange Commission (the “SEC”) on June 21, 2019, as amended by Amendment No. 1 on January 7, 2020, Amendment No. 2 on June 25, 2020, Amendment No. 3 on July 20, 2021, Amendment No. 4 on June 1, 2022, and Amendment No. 5 on August 24, 2022 (the “Original Schedule 13D”), and relates to Class A ordinary shares, par value $0.001 per share (the “Class A Ordinary Shares”) and Class B ordinary shares, par value $0.001 per share (the “Class B Ordinary Shares”, together with the Class A Ordinary Shares, the “Shares”) of China Index Holdings Limited, an exempted company with limited liability registered under the laws of the Cayman Islands (the “Issuer”).

 

This Schedule 13D shall be deemed to amend and incorporate herein the Schedule 13D filed by Jiangong Dai and True Knight Limited (collectively, the “Dai Reporting Persons”) with the SEC on May 16, 2022 (the “Dai Schedule 13D”). The Dai Reporting Persons in Dai Schedule 13D and all information relating to such Reporting Persons disclosed in Dai Schedule 13D, and all other information reported therein is hereby incorporated into this Schedule 13D.

 

Except as amended and supplemented herein, the information set forth in the Original Schedule 13D and Dai Schedule 13D remains unchanged. Capitalized terms used but not defined in this Schedule 13D have the respective meanings set forth in the Original Schedule 13D. The address of the principal executive offices of the Issuer is Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, the People’s Republic of China. The Issuer’s American depositary shares (the “ADSs”), evidenced by American Depositary Receipts, each representing one Class A Ordinary Share, are listed on the NASDAQ Global Select Market under the symbol “CIH.”

 

This Amendment No. 6 amends and supplements the Original Schedule 13D to disclose that the Consortium (as defined in Item 4 below) has been formed and submitted to the special committee of the board of directors of the Issuer an updated preliminary non-binding proposal to acquire all outstanding Class A and Class B Ordinary Shares, including the ADSs, that are not currently owned by the Consortium Members (as defined in Item 4 below) in a going-private transaction.

 

Certain information contained in this Schedule 13D relates to share ownership of persons other than the Reporting Persons. The Reporting Persons expressly disclaims any liability for any such information and for any other information provided in this Schedule 13D that does not expressly pertain to a Reporting Person.

 

Item 2. Identity and Background

 

Item 2 is hereby amended and restated in its entirety to read as follows:

 

This Schedule 13D is being filed jointly by and on behalf of each of the following persons (collectively, the “Reporting Persons” and each a “Reporting Person”) pursuant to Rule 13d-1(k) promulgated by the SEC under Section 13 of the Act:

 

1)Fang Holdings Limited (“Fang”) is an exempted company incorporated under the laws of the Cayman Islands with limited liability, with its registered office at P.O. Box 31119 Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands, and its principal business address at c/o Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing, 100070, PRC. 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.

 

-15-

 

 

2)Tianquan Mo is a PRC citizen and the founder of the Issuer (“Mr. Mo”). Mr. Mo’s business address is c/o Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, the People’s Republic of China.

 

3)ACE Smart Investments Limited (“ACE Smart”) is a company limited by shares incorporated under the laws of Hong Kong, with its registered office at Room 1901, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong SAR. Its principal business is investment holding. As of the date hereof, ACE Smart is wholly owned by Mr. Mo.

 

4)Karistone Limited (“Karistone”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Its principal business is investment holding. As of the date hereof, Karistone is wholly owned by Mr. Mo.

 

5)Ateefa Limited (“Ateefa”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Its principal business is investment holding. As of the date hereof, Ateefa is wholly owned by Mr. Mo.

 

6)Deanhale Limited (“Deanhale”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Its principal business is investment holding. As of the date hereof, Deanhale is wholly owned by Mr. Mo.

 

7)Open Land Holdings Limited (“Open Land”) is a company limited by shares incorporated under the Laws of Hong Kong, with its registered office at Room 1901, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong SAR. As of the date hereof, Open Land is wholly owned by Mr. Mo.

 

8)Media Partner Technology Limited (“Media Partner”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Its principal business is investment holding. All of the shares of Media Partner are held by The MC Trust, for which Butterfield Fiduciary Services (Cayman) Limited serves as the trustee. Mr. Mo’s wife is the sole director of Media Partner.

 

9)Next Decade Investments Limited (“Next Decade”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Its principal business is investment holding. All of the shares of Next Decade are held by KM & KM Trust, for which Credit Suisse Trust Limited serves as the trustee. Mr. Mo’s wife is the sole director of Next Decade.

 

10)Jiangong Dai (“Mr. Dai”) is a PRC citizen and the chairman of the board of directors of the Issuer and the executive chairman of the board of directors of Fang. Mr. Dai’s business address is c/o Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, the People’s Republic of China.

 

11)True Knight Limited (“True Knight”) is a business company incorporated under the laws of the British Virgin Islands, with its registered office at Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110. Its principal business is investment holding. As of the date hereof, True Knight is wholly owned by Mr. Dai.

 

-16-

 

 

12)Shan Li (“Mr. Li”) is a PRC citizen and the director and officer of Digital Link. His business address is Flat A, 25/F, 127 Repulse Bay Road, Repulse Bay, Hong Kong SAR.

 

13)Digital Link Investments Limited (“Digital Link”) is a business company incorporated with limited liability under the laws of the British Virgins Islands, with its registered office at Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands. Its principal business is investment holding. As of the date hereof, Digital Link is wholly owned by Mr. Li.

 

The Reporting Persons may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Act with respect to the transaction described in Item 4 of this Schedule 13D. Except as otherwise stated herein, each Reporting Person expressly disclaims beneficial ownership for all purposes of the Shares and the ADSs held by each other Reporting Person.

 

The agreement among the Reporting Persons relating to the joint filing is attached hereto as Exhibit 99.4. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information concerning the other Reporting Persons, except as otherwise provided in Rule 13d-1(k).

 

The name, business address, present principal occupation or employment and citizenship of each of the directors and executive officers of the Reporting Persons as of the date hereof, if any, is set forth on Schedule A.

 

None of the Reporting Persons and, to the best of their knowledge, any of the persons listed on Schedule A hereto, has, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction or subject to any judgment, decree or final order finding any violation of federal or state securities laws or enjoining future violations of, or prohibiting or mandating activities subject to, such laws.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Item 3 is hereby amended and supplemented by adding the following at the end thereof:

 

This Schedule 13D is being filed by the Reporting Persons because, under the facts and circumstances described in Items 2, 4 and 5, the Reporting Persons may be deemed to be a group within the meaning of Section 13(d)(3) of the Act. This filing is not being made as a result of any particular acquisitions or dispositions of the Shares or ADSs by the Reporting Persons.

 

On October 13, 2022, the Consortium submitted an updated preliminary non-binding proposal (the “Updated Proposal Letter”) to the special committee of the board of directors of the Issuer relating to a potential acquisition of all of the outstanding Class A and Class B Ordinary Shares and ADSs not currently owned by the Consortium in a going-private transaction at a purchase price of US$0.84 per share or per ADS (the “Proposed Transaction”). The Reporting Persons anticipate that the consideration payable in connection with the Proposed Transaction will be funded by equity capital in form of cash contribution by Fang and Mr. Mo (or his affiliates) and rollover equity in the Issuer by the Consortium members. The Proposed Transaction is not expected to be subject to a financing condition.

 

The description of the Updated Proposal Letter contained herein is qualified in its entirety by reference to Exhibit 99.3 attached hereto, which Exhibit is incorporated herein by reference.

 

Item 4. Purpose of Transaction.

 

Item 4 is hereby amended and supplemented by adding the following at the end thereof:

 

-17-

 

 

The Reporting Persons’ response to Item 3 is incorporated by reference into this Item 4.

 

On October 12, 2022, Fang, Mr. Mo, ACE Smart, Karistone, Open Land, Media Partner, Next Decade, True Knight, Digital Link, and General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities, “General Atlantic”) (collectively, the “Consortium”, and each, a “Consortium Member”) entered into a consortium agreement (the “Consortium Agreement”), pursuant to which each member of the Consortium has agreed, among other things, that (i) Fang, as the lead investor, shall act in good faith to engage in discussions with the special committee of the Issuer regarding the Proposed Transaction, negotiate and finalize the definitive documentation in connection with the Proposed Transaction; (ii) cooperation in engaging advisors; (iii) cooperation in entry into definitive documentation with respect to the Proposed Transaction; (iv) for a period ending on the earlier of (A) the date which is twelve (12) months after the date of the Consortium Agreement, which may be extended as jointly agreed by all Consortium Members in writing and (B) the termination of the Consortium Agreement pursuant to its terms thereof, each Consortium Member shall work exclusively with each other to implement the Proposed Transaction, including to evaluate the Company and its business, prepare, negotiate and finalize the definitive documentation, vote, or cause to be voted, at every shareholder meeting all of its equity securities held or otherwise beneficially owned by it or its affiliates in the Issuer (x) against any alternative transaction or matter that would facilitate an alternative transaction and (y) in favor of the Proposed Transaction, and not to acquire or dispose of the Shares and ADSs of the Issuer, subject to certain exceptions; and (v) subject to certain conditions including entry into definitive documentation with respect to the Proposed Transaction, each applicable Consortium Member shall contribute (or cause their affiliates to contribute) respective applicable cash or Shares or ADSs to a new company to be formed by the Consortium in exchange for its newly issued equity interests.

 

On October 13, 2022, the Consortium submitted the Updated Proposal Letter to the special committee of the board of directors of the Issuer relating to the Proposed Transaction. Consummation of the transactions contemplated by the Updated Proposal Letter is subject to a number of conditions, including, among other things, the negotiation and execution of definitive agreements and other related agreements mutually acceptable in form and substance to the Issuer and the Consortium. The Updated Proposal Letter indicates that it is the Consortium’s preliminary indication of interest and does not constitute any binding commitment with respect to the Proposed Transaction or any other transaction. No agreement, arrangement or understanding between the Issuer and the Consortium relating to any proposed transaction will be created until such time as definitive documentation has been executed and delivered by the Issuer and the Consortium and all other appropriate parties. The other key terms of the Proposed Transaction remain the same as those set forth in the Proposal Letter included as Exhibit 99.1 of the Original Schedule 13D filed on August 24, 2022.

 

The Proposed Transaction is subject to a number of conditions, including, among other things, the negotiation and execution of definitive documents and other related agreements mutually acceptable in form and substance to the Company and the Consortium. Neither the Company nor any member of the Consortium is obligated to complete the Proposed Transaction, and a binding commitment with respect to the Proposed Transaction will result only from the execution of definitive documents, and then will be on the terms provided in such documentation.

 

If the Proposed Transaction is consummated, the ADSs would be delisted from the NASDAQ Global Select Market and the Issuer’s obligation to file periodic reports under the Act would terminate. In addition, the Proposed Transaction could result in one or more of the actions specified in clauses (a)-(j) of Item 4 of Schedule 13D, including the acquisition or disposition of securities of the Issuer, a merger or other extraordinary transaction involving the Issuer, a change to the board of directors of the Issuer (as the surviving company in the merger) to consist of persons to be designated by the Consortium, and a change in the Issuer’s memorandum and articles of association to reflect that the Issuer would become a privately held company.

 

References to the Consortium Agreement and the Updated Proposal Letter in this Schedule 13D are qualified in their entirety by reference to the Consortium Agreement and the Updated Proposal Letter, which are attached hereto as Exhibits 99.2 and 99.3, respectively, and are incorporated herein by reference in their entirety.

 

Except as disclosed in this Schedule 13D, the Reporting Persons currently have no plans or proposals that relate to or would result in any transaction, event or action enumerated in paragraphs (a) through (j) of Item 4 of Schedule 13D.

 

-18-

 

 

The Reporting Persons and their representatives may from time to time engage in discussions with members of management, and the special committee of the board of directors of the Issuer, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals and other third parties regarding a variety of matters relating to the Issuer, which may include, among other things, the Issuer's business, management, capital structure and allocation, corporate governance, Board composition and strategic alternatives and direction, as well as pursue other plans or proposals that relate to or could result in any of the matters set forth in clauses (a)-(j) of Item 4 of Schedule 13D.

 

Item 5. Interest in Securities of the Issuer.

 

Item 5(a)-(b) of the Original Schedule 13D is hereby amended and restated in its entirety with respect to each Reporting Person to read as follows:

 

The responses of each Reporting Person to Rows (7) through (13) of the cover pages of this Schedule 13D are hereby incorporated by reference in this Item 5.

 

Because of the arrangements in the Consortium Agreement, the Reporting Persons and the other Consortium Members (including General Atlantic) that beneficially own Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) and/or Class B Ordinary Shares may be deemed to have formed a “group” for purposes of Section 13(d)(3) of the Act.

 

Collectively, the Consortium may be deemed to beneficially own (i) an aggregate of 43,830,521 Class A Ordinary Shares, including Class A Ordinary Shares represented by ADSs, representing 62.7% of outstanding Class A Ordinary Shares, and (ii) an aggregate of 25,391,206 Class B Ordinary Shares, representing 100% of outstanding Class B Ordinary Shares. Each Class B Ordinary Share is convertible at the option of the holder into one Class A Ordinary Share. The Consortium may be deemed to beneficially own approximately 72.7% of the total number of outstanding Class A Ordinary Shares (including the number of Class B Ordinary Shares convertible into Class A Ordinary Shares). Each Class B ordinary share is entitled to ten votes per share, whereas each Class A ordinary share is entitled to one vote per share. The Consortium may be deemed to beneficially own the Shares representing approximately 91.4% of the total voting power of the Company. The Shares issuable upon the exercise of options or vesting of restricted shares of the Company within 60 days following October 13, 2022 are included for purposes of calculation in this paragraph.

 

Except as otherwise stated herein, each Reporting Person expressly disclaims beneficial ownership of the Class A Ordinary Shares and Class B Ordinary Shares beneficially owned by any other Reporting Persons or other parties to the Consortium Agreement. The Reporting Persons are only responsible for the information contained in this Schedule 13D and assume no responsibility for information contained in any other Schedules 13D filed by any other reporting person(s) or other parties to the Consortium Agreement.

 

(c)       Except as set forth in Items 4 and 5, no transactions in any of the shares or ADSs of the Issuer have been effected by the Reporting Persons during the past sixty days.

 

(d)       Except as set forth in this Item 5(a)-(b), to the knowledge of the Reporting Persons, no other person is known to have the right to receive or the power to ‎direct the receipt of dividends from, or the proceeds from the sale of, the shares of Class A Ordinary Shares and Class B Ordinary Shares beneficially owned by ‎the Reporting Persons.

(e)       Ateefa and Deanhale shall cease to be deemed as the beneficial owner of the Shares on the date of the Consortium Agreement given the fact that they do not directly own the Shares and they are not parties to the Consortium Agreement.

 

-19-

 

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to the Issuer.

 

Item 6 is hereby amended and supplemented by adding the following at the end thereof:

 

On October 12, 2022, the Consortium Members entered into the Consortium Agreement described in Items 3 and 4 of this Schedule 13D, and which is attached hereto as Exhibit 99.2.

 

On October 13, 2022, the Consortium Members delivered to the Issuer the Updated Proposal Letter described in Items 3 and 4 of this Schedule 13D, and which is attached hereto as Exhibit 99.3.

 

The Reporting Persons entered into a Joint Filing Agreement on October 13, 2022 (the “Joint Filing Agreement”), pursuant to which they have agreed to file this Schedule 13D jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Exchange Act. A copy of the Joint Filing Agreement is attached hereto as Exhibit 99.4.

 

Except as described above or elsewhere in this Schedule 13D or incorporated by reference in this Statement, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons or, to the best of their knowledge, any of the persons named in Schedule A hereto and any other person with respect to any securities of the Company, including, but not limited to, transfer or voting of any securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

 

Item 7. Materials to be Filed as Exhibits.

 

Item 7 is hereby amended and supplemented by adding the following exhibits:

 

Exhibit 99.2: Consortium Agreement, dated October 12, 2022
Exhibit 99.3: Updated Proposal Letter, dated October 13, 2022
Exhibit 99.4: Joint Filing Agreement, dated October 13, 2022

 

-20-

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 13, 2022

 

  FANG HOLDINGS LIMITED
     
  By: /s/ Jiangong Dai
    Name:      Jiangong Dai
    Title:        Chairman of the Board

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 13, 2022

 

  TIANQUAN MO
     
  By: /s/ Tianquan Mo
    Name:       Tianquan Mo
     
  ACE SMART INVESTMENTS LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  KARISTONE LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  ATEEFA LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  DEANHALE LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  OPEN LAND HOLDINGS LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 13, 2022

 

  MEDIA PARTNER TECHNOLOGY LIMITED
     
  By: /s/ Tianquan Mo
    Name: Tianquan Mo
    Title: Authorized Signatory
     
  NEXT DECADE INVESTMENTS LIMITED
     
  By: /s/ Tianquan Mo
    Name: Tianquan Mo
    Title: Authorized Signatory

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 13, 2022

 

  JIANGONG DAI
     
  By: /s/ Jiangong Dai
    Name: Jiangong Dai
     
  TRUE KNIGHT LIMITED
     
  By: /s/ Jiangong Dai
    Name: Jiangong Dai
    Title: Director

 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: October 13, 2022

 

  Shan Li
     
  By: /s/ Shan Li
    Name: Shan Li
     
  Digital Link Investments Limited
     
  By: /s/ Shan Li
    Name: Shan Li
    Title: Director

 

 

 

 

Schedule A

 

Name

 

Present Principal Occupation or Employment and Business Address

Tianquan Mo
(PRC citizen)
  Director of ACE Smart Investments Limited, Director of Ateefa Limited, Director of Deanhale Limited, Director of Karistone Limited, and Director of Open Land Holdings Limited, c/o Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, the People’s Republic of China
     
Jing Cao
(U.S. citizen)
  Director of Media Partner, Director of Next Decade, and Director of Open Land Holdings Limited, c/o P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
     
Jiangong Dai
(PRC citizen)
  Executive Chairman of Fang Holdings Limited and Chairman of China Index Holdings Limited, Director of True Knight, c/o Tower A, No. 20 Guogongzhuang Middle Street, Fengtai District, Beijing 100070, the People’s Republic of China
     
Shan Li
(PRC citizen)
  Director and officer of Digital Link, Flat A, 25/F, 127 Repulse Bay Road, Repulse Bay, Hong Kong SAR

 

 

 

Exhibit 99.2

 

CONSORTIUM AGREEMENT

 

THIS CONSORTIUM AGREEMENT, dated as of October 12, 2022 (this “Agreement”), is made by and among

 

A.Fang Holdings Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the “Lead Investor”),

 

B.(i) Tianquan Mo (“Mr. Mo”), (ii) ACE Smart Investments Limited, a company limited by shares incorporated under the laws of Hong Kong, (iii) Media Partner Technology Limited, a business company incorporated with limited liability under the laws of the British Virgins Islands, (iv) Next Decade Investments Limited, a business company incorporated with limited liability under the laws of the British Virgins Islands, (v) Karistone Limited, a business company incorporated with limited liability under the laws of the British Virgins Islands, and (vi) Open Land Holdings Limited, a company limited by shares incorporated under the laws of Hong Kong (each of such companies, as a “Mr. Mo’s Affiliate”, and collectively, as “Mr. Mo’s Affiliates”),

 

C.General Atlantic Singapore Fund Pte. Ltd., a company incorporated under the laws of Singapore (together with its affiliated investment entities, “General Atlantic”),

 

D.Digital Link Investments Limited, a business company incorporated with limited liability under the laws of the British Virgins Islands (“Digital Link”), and

 

E.True Knight Limited, a business company incorporated with limited liability under the laws of the British Virgins Islands (“True Knight”).

 

Each of the Lead Investor, Mr. Mo, Mr. Mo’s Affiliates, General Atlantic, Digital Link, True Knight and any Additional Members (as hereinafter defined) admitted to the Consortium (as hereinafter defined) after the date hereof pursuant to the terms of this Agreement is referred to herein as a “Party”, and collectively, the “Parties”. Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to them in Section 10.1 hereof.

 

WHEREAS, the Parties propose to undertake an acquisition transaction (the “Transaction”) with respect to China Index Holdings Limited (the “Company”), a company incorporated under the laws of the Cayman Islands and listed on the NASDAQ Global Select Market (“NASDAQ”), pursuant to which the Company would be delisted from NASDAQ and deregistered under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”);

 

WHEREAS, (a) in connection with the Transaction, the Parties propose to form a new exempted company with limited liability (“Holdco”) under the laws of the Cayman Islands, and to cause Holdco to form a direct or indirect, wholly-owned subsidiary (“Merger Sub”) under the laws of the Cayman Islands, and (b) at the closing of the Transaction (the “Closing”), the Parties intend that Merger Sub will be merged with and into the Company, with the Company being the surviving company (the “Surviving Company”) and becoming a direct, wholly-owned subsidiary of Holdco;

 

WHEREAS, on August 23, 2022, the Lead Investor submitted a preliminary non-binding proposal to the Company’s board of directors in connection with the Transaction and on or about the date hereof, the Parties intend to jointly submit an updated preliminary non-binding proposal in connection with the Transaction, the form of which is attached hereto as Schedule A (the “Proposal”), to the special committee of the Company’s board of directors which was formed on August 31, 2022 (the “Special Committee”); and

 

1

 

 

WHEREAS, in accordance with the terms of this Agreement, the Parties will cooperate and participate in (a) the evaluation of the Company, including conducting due diligence of the Company and its business, (b) discussions regarding the Proposal with the Company, and (c) the negotiation of the terms of definitive documentation among Holdco, Merger Sub and the Company with the Special Committee in connection with the Transaction, including an agreement and plan of merger among Holdco, Merger Sub and the Company (the “Merger Agreement”) (such definitive documentation, collectively, the “Definitive Agreements”).

 

NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual agreements and covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

1.Participation in Transaction; Proposal; Holdco Ownership

 

1.1              Participation in Transaction.

 

(a)Subject to the terms and conditions set forth in this Agreement, each of the Parties agrees to participate in the Transaction. The Lead Investor shall act in good faith to: (i) undertake further due diligence with respect to the Company and its business, if necessary; (ii) engage in discussions with the Special Committee regarding the Proposal; (iii) negotiate and finalize the terms of the Definitive Agreements; and (iv) take any action or refrain from taking any action in order for Holdco or Merger Sub to comply with their respective obligations, satisfying the closing conditions or exercise their respective rights under the Definitive Agreements; provided, that the Lead Investor and its authorized Representatives and Advisors shall at all relevant times (1) obtain the consents from each of the other Parties on all terms related to the purchase price of the Transaction (including any adjustment thereof), closing conditions, the structure or timing (including the long stop date) of the Transaction, termination provisions or termination fee or similar arrangement of the Definitive Agreements, (2) involve, copy or provide the other Parties, their authorized Representatives and Advisors a reasonable opportunity to participate in, as applicable, all material discussions, negotiations and other communications with the Special Committee or the Company (whether in person, by email or telephone or otherwise) relating to the Transaction, (3) consult with the other Parties on all material terms of all Transaction documentation, (4) circulate all drafts of the Transaction documentation shared by or with the Special Committee or the Company and provide each Party with a reasonable period of time to review and comment on such Transaction documentation, and incorporate in good faith all additions, deletions or changes reasonably proposed by each Party in good faith, and (5) keep the other Parties reasonably informed of the status of discussions and negotiations with the Special Committee or the Company.

 

(b)In order to facilitate the foregoing and except as otherwise agreed and subject to proviso (1) of Section 1.1(a), each Party hereby authorizes and delegates to the Lead Investor the primary responsibility for negotiating and finalizing the terms of the Definitive Agreements with the Company with respect to the Transaction; provided that such Definitive Agreements shall have been provided to the Parties for review and comment pursuant to Section 1.1(a); provided further that if any Party fails to reach agreement with the Lead Investor with respect to any material term of the Definitive Agreements, the Lead Investor shall deliver a notice to such Party to resolve such disagreement, following which such Party and the Lead Investor shall use reasonable efforts and discuss in good faith to resolve such disagreement, and if such disagreement remains unresolved for more than ten (10) Business Days after delivery of such notice, then such Party shall be deemed to have withdrawn from the Consortium unless otherwise agreed to by the Lead Investor. The Lead Investor shall also have the right (i) subject to Sections 1.4(b) and 1.4(d), to adjust the number of Rollover Shares (as defined below) and/or the amount of Cash Contribution (as defined below) of any Party and update the Equity Contribution Schedule (as defined below), and (ii) to determine the number of Rollover Shares and the amount of Cash Contribution of an Additional Member pursuant to Section 1.5.

 

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(c)Each Party shall use its commercially reasonable efforts to execute a customary confidentiality agreement reasonably required by the Company in connection with gaining access to information with respect to the Company in connection with the Transaction.

 

1.2              Negotiation of Sponsor Agreements. During the term of this Agreement, each Party shall negotiate in good faith customary definitive agreements in connection with the Transaction, including, without limitation, (a) a customary support agreement, pursuant to which each Party or any of his or its Affiliates that is a holder of Company Shares will agree, among other things, to vote such Party’s or such Affiliates’ Company Shares in support of the Transaction and against any Alternative Transaction, (b) documentation providing for each Party’s cash and/or rollover equity investment in Holdco, (c) documentation governing the actions of the Parties in connection with the Transaction following the execution of the Merger Agreement and prior to the Closing and (d) documentation governing the economic and governing terms of each Party’s investment in Holdco to take effect immediately following the Closing, which, in each case, shall include customary terms for transactions of a similar nature.

 

1.3              Proposal. Following the date hereof, under the election of the Lead Investor, the Parties shall promptly submit the Proposal to the Special Committee on or about the date hereof.

 

1.4              Holdco Ownership and Arrangements.

 

(a)Prior to the execution of the Definitive Agreements, the Lead Investor shall (i) incorporate Holdco, and shall cause Holdco to incorporate Merger Sub, and any other intermediate holding companies, in each case, under the laws of such jurisdiction(s) and as may be reasonably determined by the Lead Investor and (ii) adopt in good faith the memorandum and articles of association of Holdco, Merger Sub and other intermediate holding companies (if any), which shall be in a form which is customary for transactions of this nature. The Parties further agree that the memorandum and articles of association of Merger Sub shall become the memorandum and articles of association of the Surviving Company at the Closing.

 

(b)In connection with the Transaction and subject to the signing of, and satisfaction or waiver of the conditions set forth in, the Merger Agreement, at the Closing, each Party intends to contribute (or cause his, her or its Affiliates and/or designees to contribute) to Holdco, in exchange for newly issued equity interests in Holdco, (i) such number of Company Shares held by such Party and/or his, her or its Affiliates and/or designees as set forth in Schedule B as at the date hereof attached hereto, subject at all times to Section 1.4(d)(ii), unless otherwise determined jointly by the Lead Investor and the relevant Party from time to time (such Party’s “Rollover Shares”) and (ii) such amount of cash as set forth in Schedule B as at the date hereof attached hereto, subject at all times to Section 1.4(d)(ii), unless otherwise determined jointly by the Lead Investor and the relevant Party from time to time (such amount, such Party’s “Cash Contribution”). With respect to any Party, the sum of (A) the deemed value of such Party’s Rollover Shares (which shall be calculated based on the per share purchase price offered to the unaffiliated shareholders of the Company in the Transaction) and (B) the amount of such Party’s Cash Contribution shall equal the “Equity Contribution” of such Party. Each Party’s ownership percentage in Holdco on a non-diluted basis as of immediately following the Closing and the amount of equity interests in Holdco to be issued to such Party in exchange for such Party’s Equity Contribution shall be calculated proportionally based on (x) the amount of such Party’s Equity Contribution, relative to (y) the aggregate amount of all Parties’ Equity Contributions. For the avoidance of doubt, each Party agrees that the obligation of such Party to contribute (or cause to be contributed) his, her or its Rollover Shares and Cash Contribution to Holdco under this Section 1.4(b) shall be subject to the satisfaction or waiver of the conditions to the obligations of Holdco and its subsidiaries to consummate the Transaction to be set forth in the Definitive Agreements.

 

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(c)The Lead Investor hereby covenants that to the extent any debt financing(s) will be undertaken for purposes of consummation of the Transaction, such financing(s) shall be obtained from reputable commercial banks on arms-length terms.

 

(d)Each Party hereby agrees that (i) the Lead Investor may prepare and maintain a schedule setting forth the number of Rollover Shares and the amount of Cash Contribution of each Party (the “Equity Contribution Schedule”); (ii) the number of Rollover Shares or the amount of Cash Contribution of any Party shall not in any event, without prior consent of such Party, be increased to more than such Party’s Rollover Shares or Cash Contribution, as applicable, as set forth in Schedule B as at the date hereof attached hereto; and (iii) subject at all times to Section 1.4(b) and 1.4(d)(ii) above, the amount of Cash Contribution of any Party may be adjusted from time to time in accordance with Section 1.4(b) (including upon the admission of any Additional Member pursuant to Section 1.5 and upon the withdrawal of any Party from the Consortium pursuant to Sections 1.1(b) or 1.4(e)), and the Lead Investor shall have the right to update the Equity Contribution Schedule from time to time to reflect such adjustments.

 

(e)Prior to the execution of the Definitive Agreements, the Parties shall negotiate in good faith to reach agreement on a term sheet for a shareholder agreement that will take effect immediately after the Closing, and would, among other things, govern the relationship of the shareholders in Holdco following the Closing, and contain provisions customary for transactions of this type, which shall be executed by the Parties and/or their respective Affiliates on or immediately after the Closing (the “Shareholders Agreement”). The Parties hereby agree that (i) the equity securities in Holdco to be issued to each Party in exchange for such Party’s Equity Contribution shall have identical economic rights in all respects, including with respect to ranking, rights to distributions and convertibility; and (ii) the Shareholders Agreement shall contain customary minority shareholder protection rights for transactions of this type (the “Core Principles”). If any Party fails to reach agreement with the Lead Investor with respect to the terms of the Shareholders Agreement term sheet, the Lead Investor shall deliver a notice to such Party to resolve such disagreement following which such Party and the Lead Investor shall use reasonable efforts and discuss in good faith to resolve such disagreement. If such disagreement remains unresolved for more than ten (10) Business Days after delivery of such notice, provided that the Lead Investor is in compliance with the Core Principles, then such Party shall be deemed to have withdrawn from the Consortium unless otherwise agreed to by the Lead Investor. Notwithstanding anything to the contrary in this Agreement, any agreement to which a Party is a party to will require the consent of such Party determined at its sole discretion, and in no event will any Party be obligated without his, her or its consent to enter into or otherwise be a party to any document.

 

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(f)Any Rollover Share number referred to in this Agreement shall be appropriately adjusted to take into account any bonus share issue, share subdivision, share combination, share split, recapitalization, reclassification or similar event affecting the Company Shares after the date of this Agreement.

 

1.5              Admission of New Consortium Members

 

(a)Admission of additional members to the Consortium to provide additional equity capital by way of cash or roll-over equity contribution to Holdco for the consummation of the Transaction (including by way of indirect participation through syndication of any Party) shall require the consent of the Lead Investor (such additional members, the “Additional Members”), provided that the Lead Investor’s consent is not required for a Party’s Affiliate to become an Additional Member through a Transfer of Securities from such Party or holders of its Rollover Shares (such Party, a “Transferor Party”) to its Affiliate (such Affiliate, a “Transferee Affiliate”). The Lead Investor shall have the right to (i) determine the number of Rollover Shares and the amount of Cash Contribution of an Additional Member admitted pursuant to this Section 1.5 other than an Additional Member which is a Transferee Affiliate, in which case the number of Rollover Shares and the amount of Cash Contribution of such Transferee Affiliate shall be such number of Rollover Shares and such amount of Cash Contribution as jointly determined by the Transferor Party and the Transferee Affiliate, provided that (A) the Transferor Party and the Transferee Affiliate shall provide the Lead Investor with a written notice within two (2) Business Days upon the occurrence of such Transfer, which shall specify the amount of Rollover Shares and the amount of Cash Contribution, as applicable, that have been transferred to and/or taken up by the Transferee Affiliate; (B) the total number of Rollover Shares and the total amount of Cash Contribution of the Transferor Party and the Transferee Affiliate shall at all times be equal to the number of Rollover Shares and the amount of Cash Contribution set forth opposite the name of the Transferor Party under Schedule B immediately prior to such Transfer, unless otherwise jointly agreed by each of the Lead Investor, the Transferor Party and the Transferee Affiliate, and (C) any adjustments to the number of Rollover Shares or the amount of Cash Contribution of a Transferee Affiliate shall be jointly determined by the Lead Investor and such Transferee Affiliate; and (ii) update the Equity Contribution Schedule to reflect such determination or adjustment.

 

(b)Any Additional Members admitted to the Consortium pursuant to Section 1.5 shall execute a deed of adherence to this Consortium Agreement in the form attached hereto as Schedule D (the “Deed of Adherence”) and upon its execution of the Deed of Adherence, such additional member shall become a Party and an Additional Member for the purpose of this Agreement.

 

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2.Advisors; Approvals

 

2.1              Information Sharing. In connection with the Transaction, each Party shall (a) comply with any reasonable information delivery or other similar requirements entered into by Holdco, a Party or an Affiliate of a Party, reasonably related to the Transaction and shall not, and shall direct its Representatives not to, whether by their action or omission, breach such arrangements or obligations, (b) comply with any confidentiality agreements reasonably required by the Company, (c) subject to the consent of the Special Committee (if required), share or cause to be shared with all other Parties all information held by a Party and reasonably requested by another Party in order to evaluate the Company, including technical, operational, legal, accounting and financial materials and relevant consulting reports and studies, (d) provide each other Party or Holdco with all information reasonably required concerning such Party or any other matter relating to such Party in connection with the Transaction and any other information a Party may reasonably require in respect of any other Party and its Affiliates for inclusion in the Definitive Documents, (e) provide timely responses to requests by other Parties for information and (f) apply the level of resources and expertise that such Party reasonably considers to be necessary and appropriate to meet its obligations under this Agreement. Except as required by law or regulations of any stock exchange or other regulatory body to which a Party is bound, the consent of each Party shall be required for any public statements about their intentions with respect to the Company, any issuance of which shall be further subject to Section 6.1. The Parties also acknowledge and agree that the Transaction may be considered a “going-private” transaction under Rule 13e-3 under the Exchange Act (“Rule 13e-3”) and agree to provide all information reasonably necessary to satisfy the applicable disclosure requirements under Rule 13e-3. Unless the Lead Investor otherwise agrees, none of the Parties shall commission a report, opinion or appraisal (within the meaning of Item 1015 of Regulation M-A of the Exchange Act). Notwithstanding the foregoing, no Party is required to make available to the other Parties any of their internal board meeting or investment committee materials or analyses or any information which it considers being commercially sensitive information or which is otherwise held subject to an obligation of confidentiality. The Parties agree and confirm that the Parties who are directors or employees of the Company or its subsidiaries shall not be obligated to provide any information in breach of any of their respective obligations or fiduciary duties to the Company.

 

2.2              Appointment of Advisors.

 

(a)The Parties agree that the Lead Investor shall be responsible for engaging (including the scope and engagement terms), terminating or changing all joint Advisors to the Consortium in connection with the Transaction (such joint Advisors to the Consortium agreed in writing by the Lead Investor in accordance with this Section 2.2(a), the “Joint Advisors”). The Parties agree and acknowledge that O’Melveny & Myers has been selected by the Consortium as a Joint Advisor and the international legal counsel to the Consortium.

 

(b)Except as otherwise provided in Section 2.2(a), if a Party requires separate representation in connection with specific issues arising out of the Transaction, such Party may retain other Advisors to advise it, provided that such Party shall (i) provide prior notice to other Parties of such retention and (ii) subject to Sections 3.1(a) and 3.1(c), be solely responsible for the fees and expenses of such separate Advisors unless the Lead Investor agrees in writing that the fees and expenses incurred by such separate Advisor will be treated as Consortium Transaction Expenses (as defined below) and reimbursable pursuant to Section 3 (which agreement shall not be unreasonably withheld or delayed).

 

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(c)For the purpose of the foregoing Section 2.2(b), the Lead Investor hereby acknowledges that such separate Advisors as set forth in Schedule C attached hereto have been retained by the relevant Party(ies) in connection with the Transaction, and hereby agrees and confirms that the fees and expenses incurred in connection therewith, in an amount up to US$50,000 for each such separate Advisor, shall be treated as Consortium Transaction Expenses (as defined below) and reimbursable pursuant to Section 3.

 

3.Transaction Costs

 

3.1              Expenses and Fee Sharing.

 

(a)Subject to Section 3.1(d), upon consummation of the Transaction, the Lead Investor shall cause the Company (or its successor in interests) to reimburse the Parties for, or pay on behalf of the Parties, as the case may be: (i) all out-of-pocket costs and expenses incurred by the Parties as approved by the Lead Investor in writing before incurring such costs and expense (including the reasonable fees and expenses of Advisors retained by a Party pursuant to Section 2.2(b)), and (ii) fees, expenses and disbursements payable to any Joint Advisors as contemplated by Section 2.2(a) (such costs and expenses under this subsections (i) and (ii), the “Consortium Transaction Expenses”).

 

(b)If the Transaction is not consummated (and Sections 3.1(c) and 3.1(d) do not apply), and subject to Section 5.5, (i) the Lead Investor shall pay the Consortium Transaction Expenses; and (ii) each Party shall bear its own costs and expenses incurred in connection with the Transaction including fees, expenses and disbursements payable to any separate Advisor engaged by such Party as contemplated by Section 2.2(b).

 

(c)If the Transaction is not consummated due to the unilateral breach of this Agreement (or any other relevant agreement) by one or more Parties, then such Party(ies) shall, severally (and not jointly or jointly and severally), reimburse any non-breaching Party for all of their out-of-pocket costs and expenses incurred in connection with the Transaction, including (i) the Consortium Transaction Expenses; and (ii) any fees, expenses and disbursements payable to separate Advisors retained by such non-breaching Party pursuant to Section 2.2(b), in each case without prejudice to any rights and remedies otherwise available to such non-breaching Party.

 

(d)If a Party ceases to be a Party (including by way of breach of this Agreement, or as a result of such Party’s withdrawal from the Consortium pursuant to Section 1.1(b) or Section 1.4(e)) prior to the consummation of the Transaction, then such Party shall be responsible for, and shall pay, its Pro Rata Share (as defined below) of the Consortium Transaction Expenses incurred or accrued as of the date of its ceasing to be a Party, or such a lower amount as otherwise determined in good faith by the Lead Investor. For the avoidance of doubt, such Party shall not be responsible for any Consortium Transaction Expenses incurred or accrued after such time as such Party ceases to be a Party other than under the circumstances described in Section 3.1(c).

 

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(e)Each of the Parties shall be entitled to receive any termination, break-up or other fees or amounts payable to Holdco or Merger Sub by the Company pursuant to the Definitive Agreements, net of the Consortium Transaction Expenses, to be allocated pro rata among the Parties in proportion to their respective Contemplated Ownership Percentages as set forth in the then-effective Schedule B (the “Pro Rata Share”), provided that such Party shall continue to be a Party when Holdco or Merger Sub receives such payments from the Company.

 

(f)The obligations of each Party under this Agreement are several (and not joint or joint and several). For the avoidance of doubt, without limiting Section 3.1(c), no Party shall be responsible for the fraud, willful misconduct or breach of the Agreement by any other Party.

 

4.Exclusivity.

 

4.1              During the period beginning on the date hereof and ending on the earlier of (i) the date which is twelve (12) months after the date of this Agreement, which may be extended as jointly agreed by all Parties in writing, and (ii) the termination of this Agreement pursuant to Section 5.3 (the “Exclusivity Period”), each Party agrees that it shall (and shall cause its Affiliates to):

 

(a)work exclusively with the Lead Investor and the other Parties to implement the Transaction, including to (i) evaluate the Company and its business, (ii) prepare, negotiate and finalize the definitive Transaction documentation; and (iii) vote, or cause to be voted, at every shareholder or stakeholder meeting (whether by written consent or otherwise), including any adjournment, recess or postponement thereof, all of its Company Shares (x) against any Alternative Transaction or matter that would facilitate an Alternative Transaction and (y) in favor of the Transaction;

 

(b)not, and shall not permit its Affiliates, or any of its or its Affiliates’ Representatives authorized to act on it or its Affiliate’s behalf, directly or indirectly, to (i) propose an Alternative Transaction, or seek, solicit, initiate, induce, facilitate or encourage (including by way of furnishing any non-public information concerning the Company) inquiries or proposals concerning, or participate in any discussions, negotiations, communications or other activities with any person (other than the other Parties) concerning, or enter into or agree to an Alternative Transaction; (ii) provide any information to any third party with a view to the third party or any other person pursuing or considering to pursue an Alternative Transaction; (iii) finance or offer to finance any Alternative Transaction, including by offering any equity or debt finance, or contribution of Company Shares or other securities in the Company or provision of a voting or tender agreement, in support of any Alternative Transaction; (iv) enter into any written or oral agreement, arrangement or understanding (whether legally binding or not) regarding, or do, anything which is inconsistent with the provisions of this Agreement or the Transaction as contemplated by this Agreement; (v) except as expressly contemplated under the Definitive Agreements or other definitive Transaction documentation, (A) acquire any Company Shares or other securities in the Company, or any right, title or interest thereto or therein, other than (x) its Rollover Shares or securities of the Company convertible or exchanged from the Rollover Shares or (y) securities of the Company granted pursuant to the Company’s existing equity incentive plans or issuable upon exercise or settlement of the equity incentive awards granted by the Company under its existing equity incentive plans pursuant to the terms thereof, or (B) sell, offer to sell, give, pledge, encumber, assign, grant any option for the sale of or otherwise transfer or dispose of, or enter into any agreement, arrangement or understanding to sell or otherwise transfer or dispose of, including, without limitation, by way of tender or exchange offer, an interest in any Company Shares or other securities in the Company (“Transfer”); (vi) enter into any contract, option or other arrangement or understanding with respect to a Transfer or limitation on voting rights of any Company Shares or other securities in the Company, or any right, title or interest thereto or therein; (vii) deposit any Company Shares or other securities in the Company into a voting trust or grant any proxies or enter into a voting agreement, power of attorney or voting trust with respect to any Company Shares or other securities in the Company; or (viii) seek, solicit, initiate, encourage, facilitate, induce or enter into any negotiation, discussion, agreement or understanding (whether or not in writing and whether or not legally binding) with any other person regarding the matters described in Section 4.1(b)(i) to Section 4.1(b)(vii); provided that notwithstanding anything to the contrary herein, the foregoing clauses (iv), (v) and (vi) of this Section 4.1(b) shall not apply to any Transfer of any Securities or any right, title or interest thereto between a Party and its Affiliate, provided that such Affiliate shall execute and deliver to the Lead Investor the Deed of Adherence with respect to such Transferred Securities and become a Party and an Additional Member for the purpose of this Agreement if it has not yet become a Party hereto, and provided further that notwithstanding anything to the contrary herein, following the termination of this Agreement with respect to any Party pursuant to Section 5.1, the foregoing clauses (v) and (vi) of this Section 4.1(b)) shall cease to apply to such terminated Party;

 

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(c)immediately cease and terminate, and cause to be ceased and terminated, all existing activities, discussions, conversations, negotiations and other communications (whether conducted by it or any of its Representatives) with all persons conducted heretofore with respect to an Alternative Transaction; and

 

(d)notify the other Parties promptly if it or any of its Representatives receives any approach or communication with respect to any Alternative Transaction and shall promptly disclose to the other Parties the identity of any other persons involved and the nature and content of the approach or communication, and promptly provide the other Parties with copies of any such written communication.

 

Notwithstanding the foregoing provisions of Section 4.1, nothing in this Agreement shall be deemed to restrict the Lead Investor or its Affiliates or its Representatives from engaging or participating in any discussions or negotiations with (a) senior management of the Company (only in their personal capacities) regarding their participation or involvement in the Transaction during the pendency of the consummation of the Transaction or (b) any other Person who has indicated an interest in joining the Consortium as an Additional Member for the purposes of determining the suitability of such Person, and potential terms under which such Person or its Affiliates may be admitted, as an Additional Member pursuant to Section 1.5(a).

 

5.Termination

 

5.1              Failure to Agree. Prior to the execution of the Definitive Agreements, upon a Party’s withdrawal pursuant to Section 1.1(b) or Section 1.4(e), this Agreement shall terminate with respect to such Party, following which the provisions of Section 5.5(a) will apply.

 

5.2              Upon Expiration of Exclusivity Period. If Holdco, Merger Sub and the Company have not entered into the Definitive Agreements prior to expiration (including any extensions thereof) of the Exclusivity Period, any Party may upon expiration of such period cease its participation in the Transaction by providing a written notice to other Parties and this Agreement shall terminate with respect to such Party, following which the provisions of Section 5.5(a) will apply.

 

5.3              Other Termination Events. This Agreement shall terminate with respect to all Parties upon a written agreement among all of the Parties to terminate this Agreement.

 

5.4              After Execution of Definitive Agreements. After the execution of the Definitive Agreements, this Agreement shall terminate without any further action on the part of any Party, upon the earlier of (a) the date the Transaction is consummated and (b) the date that the Definitive Agreements is validly terminated in accordance with its terms.

 

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5.5              Effect of Termination.

 

(a)Upon termination of this Agreement pursuant to Section 5.1 (Failure to Agree), Section 5.2 (Upon Expiration of Exclusivity Period), Section 5.3 (Other Termination Events) or Section 5.4 (After Execution of Definitive Agreements), (i) Section 3 (Transaction Costs), Section 5 (Termination), Section 6.2 (Confidentiality), Section 7 (Notices) and Section 9 (Miscellaneous) shall continue to bind all of the Parties, provided that, if there was a breach of this Agreement by any Party prior to the termination, Section 3.1(c) and Section 3.1(d), as applicable, shall apply; and (ii) the provisions of Section 4 (Exclusivity) (other than Section 4.1(a)) shall remain in effect for the duration of the Exclusivity Period.

 

(b)Other than as set forth in Section 5.5(a), or in respect of a breach of this Agreement by any Party prior to the termination of this Agreement with respect to such Party, the Parties shall not otherwise be liable to each other in relation to this Agreement after termination. Any Joint Advisor or separate Advisor appointed by any Party in accordance with the terms of this Agreement may continue to advise any of the Parties.

 

6.Announcements and Confidentiality

 

6.1              Announcements. No public announcement or statement regarding the existence, subject matter or contents of this Agreement shall be issued by any Party or their Affiliates or Representatives either to the Company (including the Company’s board of directors ) or to the public without the prior written consent of the Lead Investor, which consent shall not be unreasonably withheld, delayed or conditioned, except to the extent that any such announcements are required by laws, a court of competent jurisdiction, a regulatory body or international stock exchange, and then only after the form and terms of such disclosure have been notified to the Lead Investor and the Lead Investor has had a reasonable opportunity to comment thereon, in each case to the extent reasonably practicable. Any public announcement to be made by the Parties or their Affiliates (including Holdco) in connection with the Transaction shall be jointly coordinated and agreed by all of the Parties. Notwithstanding the foregoing, each Party may make any Schedule 13D filings, or amendments thereto, in respect of the Company that such Party reasonably believes is required under applicable law without the prior written consent of the other Parties, provided that each such Party shall coordinate with the other Parties in good faith regarding the content and timing of such filings or amendments in connection with the Transaction.

 

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6.2              Confidentiality.

 

(a)Except as permitted under Section 6.3, each Party shall not, and shall direct its Affiliates and Representatives not to, without the prior written consent of the other Parties, disclose any Confidential Information received by it (the “Recipient”) from any other Party (the “Discloser”). Each Party shall not and shall direct its Affiliates and Representatives not to, use any Confidential Information for any purpose other than for the purposes of this Agreement or the Transaction.

 

(b)Subject to Section 6.2(c), the Recipient shall safeguard and return to the Discloser, on demand, any Confidential Information, and in the case of electronic data that constitutes Confidential Information, to return or destroy such Confidential Information (other than any electronic data stored on the back-up storage of the Recipient’s hardware) at the option of the Recipient.

 

(c)Each Party may retain in a secure archive a copy of the Confidential Information referred to in Section 6.2(a) if the Confidential Information is required to be retained by the Party for regulatory purposes or in connection with a bona fide document retention policy.

 

(d)Each Party acknowledges that, in relation to any Confidential Information received from a Discloser, the obligations contained in this Section 6.2 shall continue to apply for a period of twenty-four (24) months following the date of termination of this Agreement pursuant to Section 5.1, Section 5.2, Section 5.3 or Section 5.4, as applicable, unless otherwise agreed in writing.

 

6.3              Permitted Disclosures. A Party may make disclosures (a) to those of its Affiliates and Representatives as such Party reasonably deems necessary to give effect to or enforce this Agreement (including potential sources of capital), but only on a confidential basis and the Party should sign a confidentiality agreement, as applicable, which contains similar content to Section 6.3, with the Recipient, and without prejudice to the foregoing sentence, in the case of General Atlantic, to limited partners of any direct or indirect shareholder of General Atlantic or any fund manager managing General Atlantic or such shareholder, officers of any fund manager managing General Atlantic or such shareholder, and trusts Controlled by or for the benefit of the foregoing and their respective Representatives; (b) if required by law or a court of competent jurisdiction, the United States Securities and Exchange Commission or another regulatory body or international stock exchange having jurisdiction over a Party or its Affiliates or pursuant to whose rules and regulations such disclosure is required to be made, but only after the form and terms of such disclosure have been notified to the other Parties and the other Parties have had a reasonable opportunity to comment thereon, in each case to the extent legally permissible and reasonably practicable; or (c) if the information is publicly available other than through a breach of this Agreement by such Party or its Affiliates or Representatives.

 

7.Notices.

 

7.1              Any notice, request, instruction or other document to be given hereunder by any Party to the others shall be in writing and delivered personally or sent by facsimile, overnight courier or e-mail to the contact details set forth on the signature pages and shall be copied to the additional contact as set forth thereon as well or to such other persons or addresses as may be designated in writing by the Party to receive such notice as provided above. Any notice, request, instruction or other document given as provided above shall be deemed given to the receiving Party upon actual receipt, if delivered personally; upon confirmation or proof of successful transmission if sent by facsimile or e-mail or on the next day after deposit with an overnight courier, if sent by an overnight courier, except if the time of deemed delivery under this Section 7, (regardless of the form of service) is after 4:30 p.m. at the place of receipt or is not on a Business Day, then the notice will not be deemed received at that time but rather will be deemed received at 9 a.m. on the next following Business Day in the place of delivery.

 

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8.Representations and Warranties

 

8.1              Representations and Warranties. Each Party hereby represents and warrants, on behalf of such Party only, to the other Parties that (a) it has the requisite power and authority to execute, deliver and perform this Agreement; (b) the execution, delivery and performance of this Agreement by it have been duly authorized by all necessary action on the part of such Party and no additional proceedings are necessary to approve this Agreement; (c) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of such Party enforceable against it in accordance with the terms hereof (subject to general principles of equity); (d) its execution, delivery and performance (including the provision and exchange of information) of this Agreement will not (i) conflict with, require a consent, waiver or approval under, or result in a breach of or default under, any of the terms of any material contract or agreement to which such Party is a party or by which such Party is bound, or any office such Party holds, (ii) violate any order, writ, injunction, decree or statute, or any rule or regulation, applicable to such Party or any of its properties and assets or (iii) result in the creation of, or impose any obligation on such Party to create, any lien, charge or other encumbrance of any nature whatsoever upon such Party’s properties or assets; and (e) no broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the Transaction based upon arrangements made by or on behalf of such Party.

 

8.2              Company Shares. As of the date of this Agreement, (i) each Party (A) Owns the number of outstanding Company Shares set forth under the heading “Company Shares” next to its names on Schedule B hereto, and (B) Owns the other Securities set forth under the heading “Other Securities” next to their names on Schedule B hereto, in each case free and clear of any encumbrances or restrictions; (ii) such Party has the sole right to Control the voting and disposition of the Company Shares (if any) and any other Securities (if any) Owned by such Party; and (iii) such Party does not Own, directly or indirectly, any Company Shares or other Securities other than as set forth on Schedule B hereto. Each Party agrees that, except as may be agreed by the Lead Investor, it shall not acquire Ownership of any Company Shares prior to the termination of this Agreement pursuant to Section 5.

 

8.3              Reliance. Each Party acknowledges that the other Parties have entered into this Agreement on the basis of and reliance upon (among other things) the representations and warranties in Section 8.1 and Section 8.2 and have been induced by them to enter into this Agreement.

 

9.Miscellaneous

 

9.1              Entire Agreement. This Agreement constitutes the entire agreement between the Parties and supersedes any previous oral or written agreements or arrangements among them or between any of them relating to its subject matter.

 

9.2              Further Assurances. Each Party shall use all reasonable best efforts to take, or cause to be taken, all actions, and to do, or cause to be done, and to assist and cooperate with the other Parties in doing, all things necessary, proper or advisable to carry out the intent and purposes of this Agreement.

 

9.3              Severability. If any provision of this Agreement is held to be invalid or unenforceable for any reason, it shall be adjusted rather than voided, if possible, in order to achieve the intent of the Parties to the maximum extent possible. In any event, the invalidity or unenforceability of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision, in any other jurisdiction.

 

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9.4              Amendments; Waivers. Neither this Agreement nor any term hereof may be amended or otherwise modified other than by an instrument in writing signed by each of the Parties. No provision of this Agreement may be waived, discharged or terminated other than by an instrument in writing signed by the Party against whom the enforcement of such waiver, discharge or termination is sought. No failure or delay by any Party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 

9.5              Assignment; No Third Party Beneficiaries. Other than as provided herein, the rights and obligations of any Party shall not be assigned without the prior consent of the other Parties; provided that each Party may assign its rights and obligations under this Agreement, in whole or in part, without the prior consent of the other Parties, to an Affiliate of such Party by notifying the other Parties pursuant to Section 7. Each Party agrees that it will remain bound and liable under this Agreement after such assignment to its Affiliates. This Agreement shall be binding upon the respective heirs, successors, legal representatives and permitted assigns of each of the Parties. Nothing in this Agreement shall be construed as giving any person, other than each of the Parties and its heirs, successors, legal representatives and permitted assigns any right, remedy or claim under or in respect of this Agreement or any provision hereof.

 

9.6              No Partnership or Agency. The Parties are independent and nothing in this Agreement constitutes a Party as the trustee, fiduciary, agent, employee, partner or joint venturer of the other Party.

 

9.7              Counterparts. This Agreement may be executed in counterparts and all counterparts taken together shall constitute one document. Delivery of a counterpart of this Agreement by e-mail attachment or telecopy shall be an effective mode of delivery.

 

9.8              Governing Law. This Agreement shall be governed by, and construed in accordance with, the substantive laws of the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”) without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of the laws of any jurisdiction other than Hong Kong.

 

9.9              Dispute Resolution. Any disputes, actions and proceedings against any Party arising out of or in any way relating to this Agreement shall be submitted to the Hong Kong International Arbitration Centre (“HKIAC”) and resolved in accordance with the Arbitration Rules of HKIAC in force (the “Rules”) when the notice of arbitration is submitted and as may be amended by this Section 9.9. The place of arbitration shall be Hong Kong. The official language of the arbitration shall be English and the arbitration tribunal (the “Tribunal”) shall consist of three arbitrators (each, an “Arbitrator”). The claimant(s), irrespective of number, shall nominate jointly one Arbitrator; the respondent(s), irrespective of number, shall nominate jointly one Arbitrator; and a third Arbitrator will be nominated jointly by the first two Arbitrators and shall serve as chairman of the Tribunal. In the event the claimant(s) or respondent(s) or the first two Arbitrators shall fail to nominate or agree the joint nomination of an Arbitrator or the third Arbitrator within the time limits specified by the Rules, such Arbitrator shall be appointed promptly by the chairman of HKIAC. The award of the Tribunal shall be final and binding upon the disputing parties. Any party to an award may apply to any court of competent jurisdiction for enforcement of such award and, for purposes of the enforcement of such award, the Parties irrevocably and unconditionally submit to the jurisdiction of any court of competent jurisdiction and waive any defenses to such enforcement based on lack of personal jurisdiction or inconvenient forum.

 

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9.10          Specific Performance. Each Party acknowledges and agrees that the other Parties would be irreparably injured by a breach of this Agreement by it and that money damages alone are an inadequate remedy for actual or threatened breach of this Agreement. Accordingly, each Party shall be entitled to specific performance or injunctive or other equitable relief (without posting a bond or other security) to enforce or prevent any violations of any provision of this Agreement, in addition to all other rights and remedies available at law or in equity to such Party, including the right to claim money damages for breach of any provision of this Agreement.

 

9.11          Limitation on Liability. Except as otherwise expressly provided for in this Agreement, the obligation of each Party under this Agreement is several (and not joint or joint and several).

 

10.Definitions and Interpretations

 

10.1          Definitions. In this Agreement, unless the context requires otherwise:

 

Additional Members” shall have the meaning ascribed to such term in Section 1.5(a) hereof.

 

ADSs” means the Company’s American Depository Shares, each representing 1 (one) Class A ordinary share of the Company.

 

Advisors” means any legal, financial, tax, forensic accounting or other advisors or consultants of the Consortium, Holdco, Merger Sub or a Party, in each case appointed in connection with the Transaction.

 

Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 under the Exchange Act; including, for the avoidance of doubt, any affiliated investment funds of such Party or any investment vehicles of such Party or such funds; provided, however, that with respect only to Parties that are a private equity, sovereign or other funds in the business of making investments in portfolio companies managed independently, no portfolio company of any such Party (including portfolio company of any affiliated investment fund or investment vehicle of such Party) shall be deemed to be an Affiliate of such Party. Notwithstanding anything to the contrary in the foregoing, in the case of General Atlantic, (i) the term “Affiliate” also includes (A) any direct or indirect Controlling shareholder of General Atlantic, (B) any of General Atlantic or such shareholder’s general partners, (C) the fund manager managing General Atlantic or such shareholder (and general partners, Controlling partners and officers thereof), and (D) trusts Controlled by or for the benefit of any natural person referred to in (B) or (C) above; and (ii) in no event shall any portfolio company owned, directly or indirectly, by investment funds managed by General Atlantic Service Company, L.P., be deemed an Affiliate of General Atlantic.

 

Agreement” shall have the meaning ascribed to such term in the preamble hereof.

 

Alternative Transaction” means any inquiry, proposal or offer from any person (other than the Consortium) relating to (i) any direct or indirect acquisition or purchase of any capital stock or other equity interest in, or any of the businesses of, the Company or its subsidiaries or variable interest entities, or a restructuring, recapitalization, merger, consolidation or other business combination transaction involving the Company or its subsidiaries or variable interest entities, (ii) a transfer, sale or lease of any of the assets of the Company or any of its subsidiaries or variable interest entities, or (iii) any other transaction that could adversely affect, prevent or materially reduce the likelihood of the consummation of the Transaction with the Parties.

 

14

 

 

Arbitrator” shall have the meaning ascribed to such term in Section 9.9 hereof.

 

Business Day” means any day (other than a Saturday or a Sunday) on which banks generally are open in Beijing, Hong Kong, New York City, Singapore, Cayman Islands and British Virgins Islands for the transaction of normal banking business.

 

Cash Contribution” shall have the meaning ascribed to such term in Section 1.4(b) hereof.

 

Closing” shall have the meaning ascribed to such term in the recitals hereof.

 

Company” shall have the meaning ascribed to such term in the recitals hereof.

 

Company Shares” means the issued and outstanding Class A ordinary shares, par value US$0.001 per share, of the Company, including the Class A ordinary shares represented by the ADSs, and the Class B ordinary shares, par value US$0.001 per share, of the Company.

 

Confidential Information” includes (i) all written, oral or other information obtained in confidence by one Party from any other Party in connection with this Agreement or the Transaction, unless such information (x) is already or becomes known to such first Party on a non-confidential basis from a source not known by such first Party to be bound by a duty of confidentiality, or (y) is or becomes publicly available other than through a breach of this Agreement by such Party or its Affiliates or Representatives, and (ii) the existence or terms of, and any negotiations or discussions relating to, this Agreement, the Proposal and any definitive documentation, including the Definitive Agreements, and the Transaction.

 

Consortium” means the consortium formed by the Parties and any Additional Members to undertake the Transaction.

 

Consortium Transaction Expenses” shall have the meaning ascribed to such term in Section 3.1(a) hereof.

 

Contemplated Ownership Percentage” means, with respect to a Party, such Party’s contemplated ownership percentage of Holdco immediately following the Transaction as set forth in the then-effective Schedule B.

 

Control” shall have the meaning ascribed to such terms in Rule 12b-2 under the Exchange Act.

 

Core Principles” shall have the meaning ascribed to such term in Section 1.4(e) hereof.

 

Deed of Adherence” shall have the meaning ascribed to such term in Section 1.5(b) hereof.

 

Definitive Agreements” shall have the meaning ascribed to such term in the recitals hereof.

 

Digital Link” shall have the meaning ascribed to such term in the preamble hereof.

 

Discloser” shall have the meaning ascribed to such term in Section 6.2(a) hereof.

 

Equity Contribution” shall have the meaning ascribed to such term in Section 1.4(b) hereof.

 

15

 

 

Equity Contribution Schedule” shall have the meaning ascribed to such term in Section 1.4(d) hereof.

 

Exchange Act” shall have the meaning ascribed to such term in the recitals hereof.

 

Exclusivity Period” shall have the meaning ascribed to such term in Section 4.1 hereof.

 

General Atlantic” shall have the meaning ascribed to such term in the preamble hereof.

 

HKIAC” shall have the meaning ascribed to such term in Section 9.9 hereof.

 

Holdco” shall have the meaning ascribed to such term in the recitals hereof.

 

Hong Kong” shall have the meaning ascribed to such term in Section 9.8 hereof.

 

Joint Advisors” shall have the meaning ascribed to such term in Section 2.2(a) hereof.

 

Lead Investor” shall have the meaning ascribed to such term in the preamble hereof.

 

Merger Agreement” shall have the meaning ascribed to such term in the recitals hereof.

 

Merger Sub” shall have the meaning ascribed to such term in the recitals hereof.

 

Mr. Mo” shall have the meaning ascribed to such term in the preamble hereof.

 

Mr. Mo’s Affiliate” or “Mr. Mo’s Affiliates” shall have the meaning ascribed to such term in the preamble hereof.

 

NASDAQ” shall have the meaning ascribed to such term in the recitals hereof.

 

Own” or “Ownership” means, with respect to a person and security, the person (x) is the record holder of such security or (y) is the “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange Act) of such security.

 

Party” or “Parties” shall have the meaning ascribed to such term in the preamble hereof.

 

Person” means an individual, firm, body corporate, unincorporated association, government, state or agency of state, association, joint venture or partnership, trust or other entity or organization, in each case whether or not having a separate legal personality.

 

Proposal” shall have the meaning ascribed to such term in the recitals hereof.

 

Pro Rata Share” shall have the meaning ascribed to such term in Section 3.1(e) hereof.

 

Recipient” shall have the meaning ascribed to such term in Section 6.2(a) hereof.

 

Representatives” of a Party means that Party’s officers, directors, employees, accountants, counsel, financial advisors, consultants, other advisors, commercial bankers, lending institutions, general partners, limited partners, and other potential debt and equity financing sources. The Representatives shall include the Advisors.

 

Rollover Shares” shall have the meaning ascribed to such term in Section 1.4(b) hereof.

 

16

 

 

Rule 13e-3” shall have the meaning ascribed to such term in Section 2.1 hereof.

 

Rules” shall have the meaning ascribed to such term in Section 9.9 hereof.

 

Securities” means shares, warrants, options and any other securities which are convertible into or exercisable for shares of the Company including Company Shares and the ADSs.

 

Shareholders Agreement” shall have the meaning ascribed to such term in Section 1.4(e) hereof.

 

Special Committee” shall have the meaning ascribed to such term in the recitals hereof.

 

Surviving Company” shall have the meaning ascribed to such term in the recitals hereof.

 

Transaction” shall have the meaning ascribed to such term in the recitals hereof.

 

Transfer” shall have the meaning ascribed to such term in Section 4.1(b) hereof.

 

Transferee Affiliate” shall have the meaning ascribed to such term in Section 1.5(a) hereof.

 

Transferor Party” shall have the meaning ascribed to such term in Section 1.5(a) hereof.

 

Tribunal” shall have the meaning ascribed to such term in Section 9.9 hereof.

 

True Knight” shall have the meaning ascribed to such term in the preamble hereof.

 

10.2          Headings. Section and paragraph headings are inserted for ease of reference only and shall not affect construction.

 

[Signatures begin on next page]

 

17

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  FANG HOLDINGS LIMITED
   
  By: /s/ Jiangong Dai
  Name: Jiangong Dai
  Title: Chairman of the Board
   
  Notice details:
  Address: Tower A, No. 20
Guogongzhuang Middle Street
Fengtai District, Beijing 100070,
The People’s Republic of China
  E-mail: richarddai@fang.com
  Attention: Jiangong Dai

 

 

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  TIANQUAN MO
       
  By: /s/ Tianquan Mo
   
  ACE SMART INVESTMENTS LIMITED
   
  By: /s/ Tianquan Mo
  Name: Tianquan Mo
  Title: Director
   
  KARISTONE LIMITED
   
  By: /s/ Tianquan Mo
  Name: Tianquan Mo
  Title: Director
   
  Open Land Holdings Limited
   
  By: /s/ Tianquan Mo
  Name: Tianquan Mo
  Title: Director
   
  Notice details:
  Address: Tower A, No. 20
Guogongzhuang Middle Street
Fengtai District, Beijing 100070,
The People’s Republic of China
  E-mail: vincentmo@fang.com
  Attention: Tianquan Mo

 

 

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  MEDIA PARTNER TECHNOLOGY LIMITED
   
  By: /s/ Tianquan Mo
  Name: Tianquan Mo
  Title: Authorized Signatory
   
  NEXT DECADE INVESTMENTS LIMITED
   
  By: /s/ Tianquan Mo
  Name: Tianquan Mo
  Title: Authorized Signatory
   
  Notice details:
  Address: Tower A, No. 20
Guogongzhuang Middle Street
Fengtai District, Beijing 100070,
The People’s Republic of China
  E-mail: vincentmo@fang.com
  Attention: Tianquan Mo

 

 

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  General Atlantic Singapore Fund Pte. Ltd.
   
  By: /s/ Ong Yu Huat
  Name: Ong Yu Huat
  Title: Director
   
  Notice details:
  Address: 8 Marina View, #41-04
Asia Square Tower 1, Singapore
018960
  Email: aong@generalatlantic.com
  Attention: Alexander Ong
   
  with a copy to:
  Address: c/o General Atlantic Asia Limited
  Suite 5704-5706, 57F Two IFC,
8 Finance Street, Central, Hong Kong
  Email: itang@generalatlantic.com / sliu@generalatlantic.com
  Attention: Ivy Tang / Simon Liu
   
  and:
   
  Address: c/o General Atlantic Service Company, L.P.
  55 East 52nd Street, 33rd Floor,
New York, NY 10055, USA
  Email: clanning@generalatlantic.com
  Attention: Chris Lanning

 

 

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  DIGITAL LINK INVESTMENTS LIMITED
   
  By: /s/ Shan Li
  Name: Shan Li
  Title: Director
   
  Notice details:
  Address: Unit 219, 2/F Building
16W, Phase Three, Hong Kong
Science Park, Pak Shek Kok,
New Territories, Hong Kong
  E-mail: shan.li@sanshan.com
  Attention: Shan Li

 

 

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as a deed as of the date first written above.

 

  TRUE KNIGHT LIMITED
   
  By: /s/ Jiangong Dai
  Name: Jiangong Dai
  Title: Director
   
  Notice details:
  Address: Vistra Corporate Services Centre,
Wickhams Cay II, Road Town,
Tortola, VG1110, British Virgin Islands
  E-mail: richarddai@fang.com
  Attention: Jiangong Dai

 

 

 

 

Exhibit 99.3

 

October 13, 2022

 

The Special Committee of Board of Directors (the “Special Committee”)

China Index Holdings Limited

Tower A, No. 20 Guogongzhuang Middle Street

Fengtai District, Beijing 100070

People’s Republic of China

 

Dear members of the Special Committee:

 

Reference is made to the preliminary non-binding proposal (the “Original Proposal”), dated as of August 23, 2022, from Fang Holdings Limited (“Fang”) to acquire all outstanding Class A ordinary shares (the “Class A Shares”) and Class B ordinary shares (the “Class B Shares”, together with Class A Shares, the “Shares”) of China Index Holdings Limited (the “Company”), including Class A Shares represented by American depositary shares (“ADSs”, each representing one Class A ordinary share), that are not currently owned by Fang in a going-private transaction (the “Transaction”).

 

We are pleased to submit this revised proposal to inform the Special Committee that (i) Fang, (ii) Mr. Tianquan Mo and his affiliates, (iii) True Knight Limited, a company wholly owned by Mr. Jiangong Dai, the chairman of the board of directors of the Company, (iv) Digital Link Investments Limited; and (v) General Atlantic Singapore Fund Pte. Ltd. (together with its affiliated investment entities) (collectively, “we”, “our” or “us”) have formed a buyer consortium and, as the initial consortium members, have agreed to work exclusively with each other in pursuing the Transaction.

 

We currently own in aggregate approximately 61.0% of all the issued and outstanding Class A Shares and approximately 100% of all the issued and outstanding Class B Shares, which in aggregate represent approximately 91.4% of the total voting power of the Company.

 

We confirm that the other key terms as set forth in the Original Proposal remain unchanged and we remain committed to work with the Special Committee to promptly negotiate and finalize the transaction documents so as to expedite the process of delivering value to the Company’s public shareholders.

 

Due to our obligations under the securities laws, we intend to timely file a Schedule 13D amendment with the Securities and Exchange Commission to disclose this proposal. However, we are sure that you will agree with us that it is in all of our interests to ensure that we otherwise proceed in a strictly confidential manner, unless otherwise required by law, until we have executed a definitive merger agreement relating to the proposed transaction or terminated our discussions.

 

This letter constitutes only a preliminary indication of our interest and does not constitute any binding commitment with respect to the transactions proposed in this letter or any other transaction. No agreement, arrangement or understanding between us and the Company relating to any proposed transaction will be created until such time as definitive documentation has been executed and delivered by us and the Company and all other appropriate parties.

 

Should you have any questions regarding this proposal, please do not hesitate to contact us. We look forward to hearing from you.

 

[signatures page follows]

 

 

 

 

Sincerely,

 

Fang Holdings Limited

 
     
By: /s/ Jiangong Dai  
Name: Jiangong Dai  
Title: Chairman of the Board  

 

 

 

 

Sincerely,

 

Tianquan Mo  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  

 

 

 

 

Sincerely,

 

OPEN LAND HOLDINGS LIMITED  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  
Title: Director  

 

 

 

 

Sincerely,

 

ACE SMART INVESTMENTS LIMITED  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  
Title: Director  
     
KARISTONE LIMITED  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  
Title: Director  

 

 

 

 

Sincerely,

 

MEDIA PARTNER TECHNOLOGY LIMITED  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  
Title: Authorized Signatory  
     
NEXT DECADE INVESTMENTS LIMITED  
     
By: /s/ Tianquan Mo  
Name: Tianquan Mo  
Title: Authorized Signatory  

 

 

 

 

Sincerely,

 

TRUE KNIGHT LIMITED  
     
By: /s/ Jiangong Dai  
Name: Jiangong Dai  
Title: Director  

 

 

 

 

Sincerely,

 

DIGITAL LINK INVESTMENTS LIMITED  
     
By: /s/ Shan Li  
Name: Shan Li  
Title: Director  

 

 

 

 

Sincerely,

 

General Atlantic Singapore Fund Pte. Ltd.  
     
By: /s/ Ong Yu Huat  
Name: Ong Yu Huat  
Title: Director  

 

 

 

 

Exhibit 99.4

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Class A ordinary shares, par value US$0.001 per share and Class B ordinary shares, par value US$0.001 per share of China Index Holdings Limited, a company organized under the laws of the Cayman Islands.

 

It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement on Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein, but such party is not responsible for the completeness and accuracy of information concerning the other parties making the filing unless such party knows or has reason to believe that such information is inaccurate. It is understood and agreed that a copy of this agreement shall be attached as an exhibit to the statement on Schedule 13D, and any amendments thereto, filed on behalf of the parties hereto.

 

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument.

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  FANG HOLDINGS LIMITED
   
  By: /s/ Jiangong Dai
    Name:      Jiangong Dai
    Title:        Chairman of the Board

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  TIANQUAN MO
     
  By: /s/ Tianquan Mo
    Name:       Tianquan Mo
     
  ACE SMART INVESTMENTS LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  KARISTONE LIMITED
     
  By: /s/ Tianquan Mo
    Name:     Tianquan Mo
    Title:       Director

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  ATEEFA LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director
     
  DEANHALE LIMITED
     
  By: /s/ Tianquan Mo
    Name:     Tianquan Mo
    Title:       Director

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  OPEN LAND HOLDINGS LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Director

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  MEDIA PARTNER TECHNOLOGY LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Authorized Signatory
     
  DEANHALE LIMITED
     
  By: /s/ Tianquan Mo
    Name:      Tianquan Mo
    Title:        Authorized Signatory

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  JIANGONG DAI
   
  By: /s/ Jiangong Dai
    Name:       Jiangong Dai
   
  TRUE KNIGHT LIMITED
   
  By: /s/ Jiangong Dai
    Name:     Jiangong Dai
    Title:       Director

 

 

 

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 13, 2022.

 

  Shan Li
   
  By: /s/ Shan Li
    Name:        Shan Li
   
  DIGITAL LINK INVESTMENTS LIMITED
   
  By: /s/ Shan Li
    Name:      Shan Li
    Title:        Director