TuanChe Announces Unaudited Second Quarter 2021 Financial Results
TuanChe Limited (NASDAQ: TC) reported impressive financial results for Q2 2021, with net revenues surging 141.9% to RMB132.4 million (US$20.5 million), up from RMB54.7 million in Q2 2020. Gross profit also exhibited strong growth, increasing 126.6% to RMB97.5 million (US$15.1 million). The number of auto shows organized rose 188.5% to 176 across 110 cities. However, for Q3 2021, the company anticipates revenues to decline by approximately 35-40% due to reduced offline events caused by the COVID-19 pandemic.
- Net revenues increased by 141.9% to RMB132.4 million.
- Gross profit rose by 126.6% to RMB97.5 million.
- Number of auto shows organized increased by 188.5% to 176 in 110 cities.
- Net loss narrowed by 84.9% to RMB6.0 million.
- Expected Q3 2021 net revenues to decline by 35-40%.
- COVID-19 pandemic continues to generate uncertainties.
BEIJING, Sept. 29, 2021 /PRNewswire/ -- TuanChe Limited ("TuanChe," "Company," "we" or "our") (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.
Key Second Quarter 2021 Financial and Operating Metrics
- Net revenues increased by
141.9% to RMB132.4 million (US$20.5 million ) from RMB54.7 million in the same period of 2020. - Gross profit increased by
126.6% to RMB97.5 million (US15.1 million) from RMB43.0 million in the same period of 2020. - Quarterly number of auto shows organized across China increased by
188.5% to 176 in 110 cities from 61 in 56 cities in the same period of 2020. - Quarterly number of automobile sale transactions facilitated increased by
105.4% to 40,364 from 19,656 in the same period of 2020. Quarterly gross merchandise volume of new automobiles sold increased by103.6% to RMB5.7 billion (US$0.9 billion ) from RMB2.8 billion in the same period of 2020. - Sales operations covering 125 cities as of June 30, 2021, compared to 125 cities as of March 31, 2021 and 134 cities as of June 30, 2020.
First Half 2021 Financial and Operating Metrics
- Net revenues increased by
231.1% to RMB213.3 million (US$33.0 million ) from RMB64.4 million in the same period of 2020. - Gross profit increased by
232.4% to RMB161.9 million (US$25.1 million ) from RMB48.7 million in the same period of 2020. - The number of auto shows organized during the first half of 2021 increased by
314.9% to 278 in 133 cities from 67 auto shows in 60 cities across China in the same period of 2020. - The number of automobile sales transactions facilitated during the first half of 2021 increased by
192.3% to 64,187 from 21,961 in the same period of 2020, and the gross merchandise volume of new automobiles sold during the first half of 2021 increased by190.3% to RMB9.0 billion (US$1.4 billion ) from RMB3.1 billion in the same period of 2020.
Mr. Wei Wen, Chairman and Chief Executive Officer of TuanChe, commented, "We maintained our positive momentum in the second quarter of 2021 with robust topline growth, improved our profitability and made solid progress in our omni-channel strategy. Our net revenues reached RMB132.4 million, a
Mr. Chenxi Yu, Deputy Chief Financial Officer of TuanChe, added, "We are encouraged by our progress in the second quarter, as we innovate and introduce services and applications that improve consumers' purchase experience and provide creative marketing solutions to OEMs and dealers. In the second quarter, our gross profit climbed to RMB97.5 million, representing year-over-year growth of
Recent Business Developments
- COVID-19 Impact
As the COVID-19 pandemic is largely under control in China, the Company has gradually resumed offline operations in some cities since the end of May 2020, with the pace of recovery subject to the ongoing development of the COVID-19 pandemic and the associated government guidance. Recent developments of the COVID-19 pandemic in China, such as reported cases in the Guangdong province in the second quarter of 2021, continue to generate uncertainties over the Company's business, results of operations, financial condition and cash flow. Furthermore, as business operations of industry customers have also been disrupted by the COVID-19 pandemic, the Company continues to experience delays in collecting accounts receivables from these customers. See "Business Outlook" for the Company's current and preliminary views on the impact of COVID-19 on the auto market and operational conditions for the third quarter. The Company also continues to closely monitor both the development of the pandemic and regulatory responses and restrictions as well as the impact on the Company's business, results of operations, financial condition and cash flows. Moreover, the Company has implemented and will continue to implement measures to adjust the pace of business operations and conserve resources and may resort to other cost cutting measures for cash flow management.
Unaudited Second Quarter 2021 Financial Results
Net Revenues
Net revenues in the second quarter of 2021 increased by
- Offline marketing services. Net revenues generated from auto shows increased by
197.9% to RMB99.4 million (US$15.4 million ) in the second quarter of 2021 from RMB33.4 million in the same period of prior year, and net revenues generated from special promotion events increased by14.6% to RMB1.7 million (US$263 thousand ) in the second quarter of 2021 from RMB1.5 million in the same period of prior year. The increase in offline marketing services primarily due to the resumption of offline business activities as a result of the alleviation of the COVID-19 pandemic. - Virtual dealership, online marketing services and others. Net revenues generated from virtual dealership, online marketing services and others increased by
57.4% to RMB31.3 million (US$4.8 million ) in the second quarter of 2021 from RMB19.9 million in the same period of prior year, primarily due to our continuous expansion of collaboration with Baidu Youjia and Webank.
Gross Profit
Gross profit increased by
Total Operating Expenses and Loss from Operations
Total operating expenses increased by
- Selling and marketing expenses increased by
72.1% to RMB83.6 million (US$12.9 million ) in the second quarter of 2021 from RMB48.6 million in the same period of prior year, primarily due to increases in promotion expenses and staff compensation expenses as a result of increased volume of offline events. - General and administrative expenses decreased by
48.6% to RMB14.4 million (US$2.2 million ) in the second quarter of 2021 from RMB28.0 million in the same period of prior year, primarily due to decrease in the general and administrative staff compensation expenses and allowance for doubtful accounts, as a result of the optimization of the company's employees compensation structure under the impact of COVID-19 and the strengthening of accounts receivable management. - Research and development expenses increased by
6.9% to RMB8.8 million (US$1.4 million ) in the second quarter of 2021 from RMB8.3 million in the same period of prior year, primarily due to higher staff compensation expenses for research and development personnel.
As a result of the foregoing, loss from operations decreased by
Net loss attributable to the Company's Shareholders and Non-GAAP Measures
Net loss attributable to the Company's shareholders in the second quarter of 2021 decreased by
Adjusted net loss attributable to the Company's shareholders in the second quarter of 2021 decreased by
Adjusted EBITDA was a loss of RMB1.6 million (US
_______________
(1) For details on the calculation of and reconciliation to the nearest GAAP measures for each of adjusted net loss attributable to the Company's shareholders, adjusted net loss per ordinary share and adjusted EBITDA, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP and GAAP Results."
Balance Sheet and Cash Flow
As of June 30, 2021, the Company had RMB126.2 million (US
Unaudited First Half 2021 Financial Results
Net Revenues
Net revenues in the first half of 2021 increased by
- Offline marketing services. Revenues generated from auto shows in the first half of 2021 increased by
304.8% to RMB158.1 million (US$24.5 million ) from RMB39.1 million in the same period of prior year, and revenues generated from special promotion events in the first half of 2021 increased by7.0% to RMB1.9 million (US$0.3 million ) from RMB1.8 million in the same period of prior year, primarily due to the resumption of offline business activities as a result of the alleviation of the COVID-19 pandemic. - Virtual dealership, online marketing services and others. Revenue generated from virtual dealership, online marketing services and others increased by
125.9% to RMB53.3 million (US$8.3 million ) in the first half of 2021 from RMB23.6 million in the same period of prior year, primarily due to our continuous expansion of online marketing services, including deepen collaboration with Baidu Youjia and Webank.
Gross Profit
Gross profit in the first half of 2021 increased by
Total Operating Expenses and Loss from Operations
Total operating expenses in the first half of 2021 increased by
- Selling and marketing expenses in the first half of 2021 increased by
75.3% to RMB140.8 million (US$21.8 million ) from RMB80.3 million in the same period of prior year, primarily due to increases in promotion expenses and staff compensation expenses as a result of increased volume of offline events. - General and administrative expenses in the first half of 2021 decreased by
41.4% to RMB30.6 million (US$4.7 million ) from RMB52.3 million in the same period of prior year, primarily due to decrease in the general and administrative staff compensation expenses and allowance for doubtful accounts, as a result of the optimization of the company's compensation structure under the impact of COVID-19 and the strengthening of accounts receivable management. - Research and development expenses in the first half of 2021 increased by
4.9% to RMB17.7 million (US$2.7 million ) from RMB16.9 million in the same period of prior year, primarily due to higher staff compensation expenses for research and development personnel.
Loss from operations decreased by
Net loss attributable to the Company's Shareholders and Non-GAAP Measures
Net loss attributable to the Company's shareholders in the first half of 2021 decreased by
Adjusted net loss attributable to the Company's shareholders decreased by
Adjusted EBITDA was a loss of RMB11.8 million (US
Business Outlook
For the third quarter of 2021, the Company expects net revenues to range from approximately RMB60.0 million to RMB65.0 million, representing a year-over-year approximate decrease of
This forecast reflects the Company's current and preliminary views on the market and operational conditions as well as the influence of the COVID-19 pandemic, which are subject to change.
Exchange Rate
This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB6.4566 to US
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's business plans and development, business outlook, as well as the length and severity of the COVID-19 pandemic and its impact on the Company's business and industry, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
Use of Non-GAAP Financial Measures
To supplement the Company's unaudited condensed consolidated quarterly financial information which are presented in accordance with U.S. GAAP, the Company also uses adjusted net loss attributable to the Company's shareholders, adjusted net loss per ordinary share and adjusted EBITDA as additional non-GAAP financial measures. The Company presents these non-GAAP financial measures because they are used by the Company's management to evaluate its operating performance. The Company also believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company's consolidated results of operations in the same manner as its management and in comparing financial results across accounting periods and to those of the Company's peer companies.
The Company defines adjusted net loss as net loss excluding the impact of share-based compensation expenses, fair value loss of guarantee liability and impairment of long-term investment. The Company defines adjusted net loss per ordinary share as adjusted net loss divided by the weighted average number of ordinary shares. The Company defines adjusted EBITDA as net loss excluding the impact of depreciation and amortization, interest income net, share-based compensation expenses,fair value loss of guarantee liability and impairment of long-term investment. The Company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company's operating results. These non-GAAP financial measures are adjusted for the impact of items that the Company does not consider indicative of the operational performance of the Company's business, and should not be considered in isolation or construed as an alternative to net income/(loss) or any other measure of performance or as an indicator of the Company's operating performance.
In addition, the non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company's operations. Interest income or expenses, depreciation and amortization, share-based compensation expenses and fair value loss of guarantee liability have been and may continue to be incurred in the Company's business and are not reflected in the presentation of these non-GAAP measures. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP measures.
About TuanChe
Founded in 2010, TuanChe Limited (NASDAQ: TC) is a leading omni-channel automotive marketplace in China. TuanChe offers services to connect automotive consumers with various industry players such as automakers, dealers and other automotive service providers. TuanChe provides automotive marketing and transaction related services by integrating its online platforms with offline sales events. Through its integrated marketing solutions, TuanChe turns individual and isolated automobile purchase transactions into large-scale collective purchase activities by creating an interactive many-to-many environment. Furthermore, leveraging its proprietary data analytics and advanced digital marketing system, TuanChe's online marketing service platform helps industry customers increase the efficiency and effectiveness of their advertising placements. For more information, please contact ir@tuanche.com.
For investor and media inquiries, please contact:
TuanChe Limited
Investor Relations
Tel: +86 (10) 6398-2942
Email: ir@tuanche.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: tuanche@tpg-ir.com
Yang Song
Tel: +86 (10) 6508-0677
Email: tuanche@tpg-ir.com
TUANCHE LIMITED | ||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(Amount in thousands, except as noted) | ||||||
As of | ||||||
December 31, 2020 | June 30, 2021 | |||||
RMB Audited | RMB Unaudited | US$ Unaudited | ||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | 109,916 | 126,150 | 19,538 | |||
Restricted cash | 29,829 | 22,088 | 3,421 | |||
Time deposits | 45,674 | - | - | |||
Accounts receivable, net | 66,126 | 57,841 | 8,958 | |||
Prepayment and other current assets | 59,856 | 68,266 | 10,573 | |||
Total current assets | 311,401 | 274,345 | 42,490 | |||
Non‑current assets: | ||||||
Property, equipment and software, net | 5,708 | 4,713 | 730 | |||
Identifiable intangible assets from acquisition | 21,821 | 19,801 | 3,067 | |||
Operating lease right-of-use assets, net | 10,801 | 7,999 | 1,239 | |||
Long-term investments | 8,949 | 4,130 | 640 | |||
Goodwill | 115,414 | 115,414 | 17,875 | |||
Other non-current assets | 313 | 313 | 48 | |||
Total non‑current assets | 163,006 | 152,370 | 23,599 | |||
Total assets | 474,407 | 426,715 | 66,089 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Accounts payable | 21,794 | 21,647 | 3,353 | |||
Advances from customers | 21,466 | 4,835 | 749 | |||
Salary and welfare benefits payable | 57,996 | 45,050 | 6,977 | |||
Short-term borrowings | - | 7,000 | 1,084 | |||
Other taxes payable | 22,992 | 24,555 | 3,803 | |||
Current portion of deferred revenue | 4,054 | 3,729 | 578 | |||
Short-term operating lease liabilities | 5,911 | 4,437 | 687 | |||
Guarantee liabilities | 387 | 1,929 | 299 | |||
Other current liabilities | 41,564 | 36,010 | 5,577 | |||
Total current liabilities | 176,164 | 149,192 | 23,107 | |||
Non‑current liabilities: | ||||||
Non-current portion of deferred revenue | 185 | 830 | 129 | |||
Deferred tax liability | 5,451 | 4,935 | 764 | |||
Long-term operating lease liabilities | 4,048 | 2,522 | 391 | |||
Other non‑current liabilities | 1,498 | 1,229 | 190 | |||
Total non-current liabilities | 11,182 | 9,516 | 1,474 | |||
Total liabilities | 187,346 | 158,708 | 24,581 | |||
Shareholders' equity: | ||||||
Class A ordinary shares | 181 | 181 | 28 | |||
Class B ordinary shares | 35 | 35 | 5 | |||
Treasury stock | (45,886) | (45,886) | (7,107) | |||
Additional paid-in capital | 1,221,339 | 1,225,755 | 189,845 | |||
Accumulated deficit | (881,700) | (904,296) | (140,057) | |||
Accumulated other comprehensive loss | (5,805) | (6,679) | (1,035) | |||
Total equity attributable to equity shareholders of | 288,164 | 269,110 | 41,679 | |||
Non-controlling interests | (1,103) | (1,103) | (171) | |||
Total shareholders' equity | 287,061 | 268,007 | 41,508 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 474,407 | 426,715 | 66,089 | |||
TUANCHE LIMITED | |||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the three months ended June 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net revenues | |||||||
Offline Marketing Services: | |||||||
Auto shows | 33,371 | 99,427 | 15,399 | ||||
Special promotion events | 1,482 | 1,699 | 263 | ||||
Virtual dealership, online marketing services and others | 19,895 | 31,310 | 4,849 | ||||
Total net revenues | 54,748 | 132,436 | 20,511 | ||||
Cost of revenues | (11,702) | (34,906) | (5,406) | ||||
Gross profit | 43,046 | 97,530 | 15,105 | ||||
Operating expenses: | |||||||
Selling and marketing expenses | (48,577) | (83,579) | (12,945) | ||||
General and administrative expenses | (28,023) | (14,405) | (2,231) | ||||
Research and development expenses | (8,255) | (8,825) | (1,367) | ||||
Total operating expenses | (84,855) | (106,809) | (16,543) | ||||
Loss from operations | (41,809) | (9,279) | (1,438) | ||||
Other expenses, net: | |||||||
Interest income, net | 484 | 74 | 12 | ||||
Exchange (loss)/gain | (130) | 144 | 22 | ||||
Gain/(loss) from an equity method investment | 219 | (61) | (9) | ||||
Impairment of a long-term investment | (700) | (108) | |||||
Others, net | 996 | 3,527 | 547 | ||||
Loss before income taxes | (40,240) | (6,295) | (974) | ||||
Income tax expense | 164 | 258 | 40 | ||||
Net loss | (40,076) | (6,037) | (934) | ||||
Net loss attributable to TuanChe Limited's shareholders | (39,970) | (6,037) | (934) | ||||
Net loss attributable to the Non-controlling interests | (106) | - | - | ||||
Net loss | (40,076) | (6,037) | (934) | ||||
Other comprehensive loss: | |||||||
Foreign currency translation adjustments | (6) | (1,382) | (214) | ||||
Total other comprehensive loss | (6) | (1,382) | (214) | ||||
Total comprehensive loss | (40,082) | (7,419) | (1,148) | ||||
Comprehensive loss attributable to: | |||||||
TuanChe Limited's shareholders | (39,976) | (7,419) | (1,148) | ||||
Non-controlling interests | (106) | - | - | ||||
Net loss per share | |||||||
Basic and diluted | (0.13) | (0.02) | (0.003) | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 303,332,885 | 305,919,043 | 305,919,043 | ||||
TUANCHE LIMITED | |||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the six months ended June 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net revenues | |||||||
Offline Marketing Services: | |||||||
Auto shows | 39,061 | 158,129 | 24,491 | ||||
Special promotion events | 1,787 | 1,911 | 296 | ||||
Virtual dealership, online marketing services and others | 23,591 | 53,287 | 8,253 | ||||
Total net revenues | 64,439 | 213,327 | 33,040 | ||||
Cost of revenues | (15,716) | (51,390) | (7,959) | ||||
Gross profit | 48,723 | 161,937 | 25,081 | ||||
Operating expenses: | |||||||
Selling and marketing expenses | (80,314) | (140,810) | (21,809) | ||||
General and administrative expenses | (52,323) | (30,643) | (4,746) | ||||
Research and development expenses | (16,888) | (17,722) | (2,745) | ||||
Total operating expenses | (149,525) | (189,175) | (29,300) | ||||
Loss from operations | (100,802) | (27,238) | (4,219) | ||||
Other expenses, net: | |||||||
Interest income, net | 1,451 | 496 | 77 | ||||
Exchange gain | 590 | 246 | 38 | ||||
Gain/(loss) from an equity method investment | 52 | (220) | (34) | ||||
Impairment of a long-term investment | (700) | (108) | |||||
Others, net | 1,586 | 4,304 | 666 | ||||
Loss before income taxes | (97,123) | (23,112) | (3,580) | ||||
Income tax expense | 516 | 516 | 80 | ||||
Net loss | (96,607) | (22,596) | (3,500) | ||||
Net loss attributable to TuanChe Limited's shareholders | (96,485) | (22,596) | (3,500) | ||||
Net loss attributable to the Non-controlling interests | (122) | - | - | ||||
Net loss | (96,607) | (22,596) | (3,500) | ||||
Other comprehensive income/(loss): | |||||||
Foreign currency translation adjustments | 876 | (874) | (135) | ||||
Total other comprehensive income/(loss) | 876 | (874) | (135) | ||||
Total comprehensive loss | (95,731) | (23,470) | (3,635) | ||||
Comprehensive loss attributable to: | |||||||
TuanChe Limited's shareholders | (95,609) | (23,470) | (3,635) | ||||
Non-controlling interests | (122) | - | - | ||||
Net loss per share | |||||||
Basic and diluted | (0.32) | (0.07) | (0.01) | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 303,221,278 | 305,884,935 | 305,884,935 | ||||
TUANCHE LIMITED | |||||||
RECONCILIATION OF NON-GAAP AND GAAP RESULTS | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the three months ended June 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net loss | (40,076) | (6,037) | (934) | ||||
Add ： | |||||||
Depreciation and amortization | 1,308 | 1,407 | 218 | ||||
Subtract： | |||||||
Interest income, net | 484 | 74 | 12 | ||||
EBITDA | (39,252) | (4,704) | (728) | ||||
Add ： | |||||||
Share-based compensation expenses | 7,191 | 2,304 | 357 | ||||
Fair value loss of guarantee liability | - | 130 | 20 | ||||
Impairment of a long-term investment | - | 700 | 108 | ||||
Adjusted EBITDA | (32,061) | (1,570) | (243) | ||||
Net loss | (40,076) | (6,037) | (934) | ||||
Add ： | |||||||
Share-based compensation expenses | 7,191 | 2,304 | 357 | ||||
Fair value loss of guarantee liability | - | 130 | 20 | ||||
Impairment of a long-term investment | - | 700 | 108 | ||||
Adjusted net loss | (32,885) | (2,903) | (449) | ||||
Adjusted net loss attributable to TuanChe Limited's | (32,779) | (2,903) | (449) | ||||
Adjusted net loss attributable to the Non-controlling | (106) | - | - | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 303,332,885 | 305,919,043 | 305,919,043 | ||||
Adjusted net loss per share from operations | |||||||
Basic and diluted | (0.11) | (0.01) | (0.001) | ||||
TUANCHE LIMITED | |||||||
RECONCILIATION OF NON-GAAP AND GAAP RESULTS | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the six months ended June 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net loss | (96,607) | (22,596) | (3,500) | ||||
Add ： | |||||||
Depreciation and amortization | 3,446 | 4,634 | 718 | ||||
Subtract： | |||||||
Interest income, net | 1,451 | 496 | 77 | ||||
EBITDA | (94,612) | (18,458) | (2,859) | ||||
Add ： | |||||||
Share-based compensation expenses | 11,847 | 4,415 | 684 | ||||
Fair value loss of guarantee liability | - | 1,542 | 239 | ||||
Impairment of a long-term investment | - | 700 | 108 | ||||
Adjusted EBITDA | (82,765) | (11,801) | (1,828) | ||||
Net loss | (96,607) | (22,596) | (3,500) | ||||
Add ： | |||||||
Share-based compensation expenses | 11,847 | 4,415 | 684 | ||||
Fair value loss of guarantee liability | - | 1,542 | 239 | ||||
Impairment of a long-term investment | - | 700 | 108 | ||||
Adjusted net loss | (84,760) | (15,939) | (2,469) | ||||
Adjusted net loss attributable to TuanChe Limited's | (84,638) | (15,939) | (2,469) | ||||
Adjusted net loss attributable to the Non-controlling | (122) | - | - | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 303,221,278 | 305,884,935 | 305,884,935 | ||||
Adjusted net loss per share from operations | |||||||
Basic and diluted | (0.28) | (0.05) | (0.01) | ||||
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SOURCE TuanChe Limited
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