The third quarter revenue of tuanchue.com was 100 million yuan, down 26.2% year on year

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Sina science and technology news, Beijing time on December 18 evening news, group car network (NASDAQ: TC) today released the third quarter of 2020 as of September 30, net revenue of 100 billion yuan (about 14.7 million U.S. dollars), compared with 135.6 million yuan in the same period of last year, down 26.2%. The net loss attributable to shareholders of tuanchue.com was 41.2 million yuan (about 6.1 million US dollars), which was 11.9% lower than that of 46.8 million yuan in the same period of last year. According to the US GAAP, the adjusted net loss attributable to Tuanjie shareholders was 38.3 million yuan (about US $5.6 million), compared with 36.9 million yuan in the same period of last year.
Third quarter operating results:
3%, from 212 in 150 cities to 152 in 107 cities.
Compared with 110444 vehicles in the same period of last year, the volume of vehicles in the festival dropped by 82.2%.
Compared with 76798 vehicles in the same period of last year, the volume of vehicles traded in the festival decreased by 36.2%.
New car sales fell to 7 billion yuan (US $1 billion), down 33.3% from 10.5 billion yuan in the same period last year.
As of September 30, 2020, sales business covers 129 cities; as of June 30, 2020, sales business covers 134 cities; as of September 30, 2019, sales business covers 148 cities.
Third quarter financial results:
Net revenue was 100 million yuan (US $14.7 million), down 26.2% from 135.6 million yuan a year earlier.
Gross profit was 72.1 million yuan (US $10.6 million), down 22.6% from 93.2 million yuan in the same period last year. The gross profit margin was 72.1%, compared with 68.7% in the same period last year.
Total operating expenses were 114.7 million yuan (US $16.9 million), down 21.4% from 146.0 million yuan in the same period of last year.
The net loss attributable to shareholders of tuanchue.com was 41.2 million yuan (about 6.1 million US dollars), which was 11.9% lower than that of 46.8 million yuan in the same period of last year.
The basic and diluted losses per common share were 0.13 yuan (about US $0.02), compared with 0.16 yuan in the same period of last year.
According to the US GAAP, the adjusted net loss attributable to Tuanjie shareholders was 38.3 million yuan (about US $5.6 million), compared with 36.9 million yuan in the same period of last year.
The basic and diluted loss per common share was 0.13 yuan (about US $0.02), compared with 0.13 yuan in the same period of last year.
As of September 30, 2020, tuanjie.com has 78.8 million yuan (about 11.6 million US dollars) in cash and cash equivalents, 95.3 million yuan (about 14 million US dollars) of fixed deposits, and 8.9 million yuan (about 1.3 million US dollars) of short-term investment.
Performance in the first nine months of 2020:
Net revenue was 164.5 million yuan (US $24.2 million), down 64.4% from 462.0 million yuan in the same period last year.
The net loss attributable to shareholders of tuanchue.com was 137.7 million yuan (about US $20.3 million), compared with 182.9 million yuan in the same period of last year.
According to US GAAP, the adjusted net loss attributable to tuanchue shareholders was 122.9 million yuan (about US $18.1 million), compared with 81.6 million yuan in the same period of last year.
Performance Outlook:
Tuanchue.com expects net revenue in the fourth quarter of 2020 to reach 145 million yuan to 155 million yuan, down 20.7% to 15.2% year-on-year.
Teleconferencing:
The management team of tuanchue.com will hold a conference call at 7:30 a.m. on December 18, US Eastern time (8:30 p.m. on December 18, Beijing time), and group car will be on its investor relations website http://ir.tuanche.com/ Live broadcast and recording.
http://ir.tuanche.com/2020-12-18-TuanChe-Announces-Unaudited-Third-Quarter-2020-Financial-Results