E-House China Holdings (E-House China Holdings) Receipts from Customers

E-House China Holdings Ltd was incorporated on August 27, 2004 in the Cayman Islands as an exempted company with limited liability under the Companies Law of the Cayman Islands. The Company, through its subsidiaries, provides services to the real estate industry, including online services, primary sales agency, secondary brokerage, information and consulting, promotional events, real estate advertising and real estate fund management services in the People's Republic of China ("PRC"). The Company's main business has traditionally been providing primary real estate agency services to real estate developers. It provides secondary real estate brokerage services, including brokerage services for both sales and rentals. Secondary real estate brokerage services accounted for 1.5% of its total revenues in 2013. As of December 31, 2013, it had a total of 53 stores, including 27 in Shanghai, 22 in Hangzhou, 3 in Hong Kong and 1 in Macau. Its real estate information and consulting services are tailored to meet the needs of developer clients at various stages of the project development and sales process and other clients with particular requests and needs. Real estate information and consulting services accounted 10.5% of its total revenues in 2013. It provides two levels of real estate information services relying upon its CRIC system: data subscription services, in which it market and sell, on a subscription basis, the use of its CRIC system; and data integration services, which provide periodic research reports and analysis that suit the specific needs and requirements of individual clients in addition to access to the CRIC system. Its consulting services include, land acquisition consulting, where the Company is retained by real estate developers as consultant or intermediary to advise on and facilitate the transfer of land development rights; project consulting, where it offers services to developers who have obtained land development rights, including project feasibility studies, analysis of the real estate transaction history of nearby development projects, marketing and advertising consulting, and development of comprehensive plans for their development projects. The Company has advertising arrangements with many Chinese national and regional consumer media outlets, including television stations, newspapers, industry publications and internet websites. It also advertises and distributes informational brochures, posters and flyers at various real estate conferences, exhibitions and trade shows. Its E-House Research and Training Institute frequently organizes seminars and workshops for real estate developers and other participants in the real estate industry. The Company created E-House Membership Club to attract real estate buyers. In the primary real estate agency services market, the Company's main competitors include World Union Real Estate Consultancy (China) Ltd., Hopefluent Group Holdings Limited, Centaline Group, SYSWIN Inc. a