Fang Holdings Limited (OTCPK:SFUN.Y) entered into non-binding proposal letter to acquire remaining shares of 42.9% stakes in China Index Holdings Limited (NasdaqGS:CIH) on August 23, 2022. As of December 22, 2022, Fang Holdings Limited entered into a definitive agreement to acquire remaining shares of 42.9% stakes in China Index Holdings Limited (NasdaqGS:CIH). Implying an equity value of CIH of approximately $92.0 million. At the effective time of the Merger, each outstanding share of CIH, including share represented by American depositary share (the "ADS"), other than certain excluded shares as specified in the Merger Agreement, will be cancelled in exchange for the right to receive $1.0 in cash per share. Fang Holdings Limited will acquire remaining 89.9% stake of class A shares and 53% of class B for $0.84 million. Fang Holdings Limited intends to finance the proposed acquisition with cash on hand. The deal is subject to approval by the special committee formed by the board of Fang Holdings. On December 21, 2022, the board of directors of Fang Holdings and its audit committee approved the Equity Commitment Letter. Transaction is expected to close in March 2023. As of September 6, 2022, China Index Holdings Limited announced (i) that its board of directors has formed a special committee consisting of two independent directors, Jianping Ye and Jason Chenyang Wei, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated August 23, 2022 from Fang Holdings Limited to acquire all of the outstanding shares of the Company not currently owned by Fang, or any potential alternative transactions, and (ii) that the Special Committee has been advised by Yue, Qi and Xue, Fang of Gibson, Dunn & Crutcher LLP as its legal counsel to assist it in the evaluation of the Proposed Transaction and any potential alternative transactions. O'Melveny & Myers LLP acted as a financial advisor to Fang Holdings Limited.

Fang Holdings Limited (OTCPK:SFUN.Y) acquired remaining 61.1% stake in China Index Holdings Limited (NasdaqCM:CIH) on April 17, 2023. As a result of the Merger, CIH became a wholly owned subsidiary of Parent, and the ADSs of the Company no longer trade on the NASDAQ Capital Market (“NASDAQ”).