TuanChe Announces Unaudited Third Quarter 2021 Financial Results
TuanChe Limited (NASDAQ: TC) reported a 38.9% decrease in net revenues for Q3 2021, totaling RMB61.1 million (US$9.5 million), down from RMB100.0 million in Q3 2020. Gross profit fell 35.1% to RMB46.8 million (US$7.3 million). The number of auto shows organized dropped 57.2% to 65 events. In contrast, the first nine months showed a 66.9% revenue increase to RMB274.4 million (US$42.6 million). Despite challenges from COVID-19 and a global chip shortage, TuanChe aims to pivot towards electric vehicle manufacturing.
- Net revenues for the first nine months increased by 66.9% to RMB274.4 million (US$42.6 million).
- Gross profit for the first nine months increased by 72.8% to RMB208.7 million (US$32.4 million).
- The number of auto shows organized in the first nine months increased by 56.6% to 343 in 127 cities.
- Q3 2021 net revenues decreased by 38.9% to RMB61.1 million (US$9.5 million).
- Q3 2021 gross profit declined by 35.1% to RMB46.8 million (US$7.3 million).
- The number of auto sales transactions facilitated in Q3 dropped by 68.3% to 15,512.
BEIJING, Jan. 13, 2022 /PRNewswire/ -- TuanChe Limited ("TuanChe," "Company," "we" or "our") (NASDAQ: TC), a leading integrated automotive marketplace in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.
Key Third Quarter 2021 Financial and Operating Metrics
- Net revenues decreased by
38.9% to RMB61.1 million (US$9.5 million ) from RMB100.0 million in the same period of 2020. - Gross profit decreased by
35.1% to RMB46.8 million (US7.3 million) from RMB72.1 million in the same period of 2020. - Quarterly number of auto shows organized across China decreased by
57.2% to 65 in 55 cities from 152 in 107 cities in the same period of 2020. - Quarterly number of automobile sale transactions facilitated decreased by
68.3% to 15,512 from 48,995 in the same period of 2020. Quarterly gross merchandise volume of new automobiles sold decreased by68.6% to RMB2.2 billion (US$0.3 billion ) from RMB7.0 billion in the same period of 2020. - Sales operations covering 125 cities as of September 30, 2021, compared to 125 cities as of June 30, 2021 and 129 cities as of September 30, 2020.
First Nine Months 2021 Financial and Operating Metrics Compared with Prior Year Period
- Net revenues increased by
66.9% to RMB274.4 million (US$42.6 million ) from RMB164.5 million in the same period of 2020. - Gross profit increased by
72.8% to RMB208.7 million (US$32.4 million ) from RMB120.8 million in the same period of 2020. - The number of auto shows organized during the first nine months of 2021 increased by
56.6% to 343 in 127 cities from 219 auto shows in 133 cities across China in the same period of 2020. - The number of automobile sales transactions facilitated during the first nine months of 2021 increased by
12.3% to 79,699 from 70,956 in the same period of 2020, and the gross merchandise volume of new automobiles sold during the first nine months of 2021 increased by12.0% to RMB11.2 billion (US$1.7 billion ) from RMB10.0 billion in the same period of 2020.
Mr. Wei Wen, Chairman and Chief Executive Officer of TuanChe, commented, "In the third quarter, we persevered against a challenging macro environment with COVID-19 flare-ups and a global chip supply shortage that constrained auto production. While our revenue declined by
Following our announcement on January 5, 2022 to expand the Company's strategic focus to electric vehicle manufacturing, we continued open discussions with potential strategic partners and are on track to identify candidates with highly complementary strengths that will allow the creation of substantial synergistic value. As consumers are increasingly receptive of electric vehicles, underpinned by favorable policies, accelerated establishment of infrastructure and technology advancements in the EV industry, we believe that our innovative business model, vast customer base, strong customer insights, and our leading auto sales network, coupled with the top tier design, R&D and manufacturing team we are building as well as the in-depth cooperation with potential strategic partners, will provide important stability and foundation for success."
Mr. Chenxi Yu, Deputy Chief Financial Officer of TuanChe, added, "Our third quarter results were in line with our expectations given the weakening auto market and the impact from the pandemic, with net revenues of RMB61.1 million. To navigate the challenges in the third quarter, we remained squarely focused on cost management, cutting our net loss attributable to the Company's shareholders to RMB36.8 million from RMB41.2 million in the same period of 2020. We are excited at our decision to enter into electric vehicle manufacturing and are ready to charter a new path forward while continuing to pursue innovation, and positioning the Company to capitalize on future consumer demand."
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 relevant government guidance. Sporadic COVID-19 cases in China continue to generate uncertainties in the Company's business, resulting in the cancellation of some offline auto shows and further impact the financial conditions and cash flow of the Company. Furthermore, as the business operations of industry customers have also been disrupted by the COVID-19 pandemic, the Company continues to experience delays in collecting account 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 fourth 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 Third Quarter 2021 Financial Results
Net Revenues
Net revenues in the third quarter of 2021 decreased by
- Offline marketing services. Net revenues generated from auto shows decreased by
59.9% to RMB33.1 million (US$5.1 million ) in the third quarter of 2021 from RMB82.6 million in the same period of prior year, and net revenues generated from special promotion events decreased by33.1% to RMB1.3 million (US$0.2 million ) in the third quarter of 2021 from RMB2.0 million in the same period of prior year. The decrease in revenues from offline marketing services was primarily due to cancellations of certain offline auto shows and special promotion events in response to small-scale outbreak of COVID-19 in multiple locations. - Virtual dealership, online marketing services and others. Net revenues generated from virtual dealership, online marketing services and others increased by
72.6% to RMB26.6 million (US$4.1 million ) in the third quarter of 2021 from RMB15.4 million in the same period of prior year, primarily due to the continuous expansion of our collaboration with Webank.
Gross Profit
Gross profit decreased by
Total Operating Expenses and Loss from Operations
Total operating expenses decreased by
- Selling and marketing expenses decreased by
34.6% to RMB59.9 million (US$9.3 million ) in the third quarter of 2021 from RMB91.6 million in the same period of prior year, primarily due to decrease in promotion expenses and staff compensation expenses as a result of decreased volume of offline events. - General and administrative expenses increased by
6.5% to RMB17.0 million (US$2.6 million ) in the third quarter of 2021 from RMB15.9 million in the same period of prior year, primarily due to an increase in the allowance for other receivables. - Research and development expenses increased by
28.2% to RMB9.2 million (US$1.4 million ) in the third quarter of 2021 from RMB7.1 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 third quarter of 2021 decreased by
Adjusted net loss attributable to the Company's shareholders in the third quarter of 2021 decreased by
Adjusted EBITDA was a loss of RMB33.5 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 September 30, 2021, the Company had RMB100.2 million (US
Unaudited First Nine Months 2021 Financial Results
Net Revenues
Net revenues in the first nine months of 2021 increased by
- Offline marketing services. Revenues generated from auto shows in the first nine months of 2021 increased by
57.2% to RMB191.3 million (US$29.7 million ) from RMB121.7 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
104.8% to RMB79.9 million (US$12.4 million ) in the first nine months of 2021 from RMB39.0 million in the same period of prior year, primarily due to our continuous expansion of online marketing services, including deeper collaboration with Webank.
Gross Profit
Gross profit in the first nine months of 2021 increased by
Total Operating Expenses and Loss from Operations
Total operating expenses in the first nine months of 2021 increased by
- Selling and marketing expenses in the first nine months of 2021 increased by
16.7% to RMB200.7 million (US$31.2 million ) from RMB171.9 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 nine months of 2021 decreased by
30.2% to RMB47.6 million (US$7.4 million ) from RMB68.3 million in the same period of prior year, primarily due to a decrease in general and administrative staff compensation expenses and the allowance for doubtful accounts, which were attributable to the optimization of the company's compensation structure under the impact of COVID-19, part of the share-based compensation has been fully amortized and the strengthening of accounts receivable management. - Research and development expenses in the first nine months of 2021 increased by
11.8% to RMB26.9 million (US$4.2 million ) from RMB24.0 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 nine months of 2021 decreased by
Adjusted net loss attributable to the Company's shareholders decreased by
Adjusted EBITDA was a loss of RMB45.3 million (US
Business Outlook
For the fourth quarter of 2021, the Company expects net revenues to range from approximately RMB70.0 million to RMB80.0 million, representing an approximate year-over-year 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.
Conference Call Information
TuanChe's management will hold a conference call on Thursday, January 13, 2022, at 8:00 A.M. Eastern Time or 9:00 P.M. Beijing Time on the same day to discuss the financial results. Listeners may access the call by dialing the following numbers:
International: | +1-412-902-4272 |
US Toll Free: | +1-888-346-8982 |
Mainland China: | 400-120-1203 |
Hong Kong, China: | 800-905-945 |
The replay will be accessible through January 20, 2022, by dialing the following numbers:
International: | +1-412-317-0088 |
US Toll Free: | +1-877-344-7529 |
Access Code: | 4921048 |
A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.tuanche.com/.
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 RMB6.4434 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, change 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, change 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, change of guarantee liability and impairment of long-term investment 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 integrated 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) 6397-6232
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 | ||||||
(Amount in thousands, except as noted) | ||||||
As of | ||||||
December 31, 2020 | September 30, 2021 | |||||
RMB Audited | RMB Unaudited | US$ Unaudited | ||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | 109,916 | 100,193 | 15,550 | |||
Restricted cash | 29,829 | 34,086 | 5,290 | |||
Time deposits | 45,674 | - | - | |||
Accounts receivable, net | 66,126 | 52,599 | 8,163 | |||
Prepayment and other current assets, net | 59,856 | 59,532 | 9,239 | |||
Total current assets | 311,401 | 246,410 | 38,242 | |||
Non–current assets: | ||||||
Property, equipment and software, net | 5,708 | 4,241 | 658 | |||
Identifiable intangible assets from acquisition | 21,821 | 18,760 | 2,912 | |||
Operating lease right-of-use assets, net | 10,801 | 6,559 | 1,018 | |||
Long-term investments | 8,949 | 4,702 | 730 | |||
Goodwill | 115,414 | 115,414 | 17,912 | |||
Other non-current assets | 313 | 313 | 49 | |||
Total non–current assets | 163,006 | 149,989 | 23,279 | |||
Total assets | 474,407 | 396,399 | 61,521 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Accounts payable | 21,794 | 31,305 | 4,858 | |||
Advances from customers | 21,466 | 17,512 | 2,718 | |||
Salary and welfare benefits payable | 57,996 | 34,643 | 5,377 | |||
Short-term borrowings | - | 7,000 | 1,086 | |||
Other taxes payable | 22,992 | 22,457 | 3,485 | |||
Current portion of deferred revenue | 4,054 | 5,284 | 820 | |||
Short-term operating lease liabilities | 5,911 | 3,049 | 473 | |||
Guarantee liabilities | 387 | 2,800 | 435 | |||
Other current liabilities | 41,564 | 30,387 | 4,717 | |||
Total current liabilities | 176,164 | 154,437 | 23,969 | |||
Non–current liabilities: | ||||||
Non-current portion of deferred revenue | 185 | 461 | 72 | |||
Deferred tax liability | 5,451 | 4,677 | 726 | |||
Long-term operating lease liabilities | 4,048 | 1,879 | 292 | |||
Other non–current liabilities | 1,498 | 1,104 | 171 | |||
Total non-current liabilities | 11,182 | 8,121 | 1,261 | |||
Total liabilities | 187,346 | 162,558 | 25,230 | |||
Shareholders' equity: | ||||||
Class A ordinary shares | 181 | 181 | 28 | |||
Class B ordinary shares | 35 | 35 | 5 | |||
Treasury stock | (45,886) | (45,886) | (7,121) | |||
Additional paid-in capital | 1,221,339 | 1,230,243 | 190,931 | |||
Accumulated deficit | (881,700) | (941,062) | (146,051) | |||
Accumulated other comprehensive loss | (5,805) | (8,567) | (1,330) | |||
Total equity attributable to equity shareholders of | 288,164 | 234,944 | 36,462 | |||
Non-controlling interests | (1,103) | (1,103) | (171) | |||
Total shareholders' equity | 287,061 | 233,841 | 36,291 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 474,407 | 396,399 | 61,521 | |||
TUANCHE LIMITED | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the three months ended September 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net revenues | |||||||
Offline Marketing Services: | |||||||
Auto shows | 82,616 | 33,144 | 5,144 | ||||
Special promotion events | 1,988 | 1,329 | 206 | ||||
Virtual dealership, online marketing services and others | 15,425 | 26,623 | 4,132 | ||||
Total net revenues | 100,029 | 61,096 | 9,482 | ||||
Cost of revenues | (27,926) | (14,293) | (2,218) | ||||
Gross profit | 72,103 | 46,803 | 7,264 | ||||
Operating expenses: | |||||||
Selling and marketing expenses | (91,628) | (59,916) | (9,299) | ||||
General and administrative expenses | (15,944) | (16,986) | (2,636) | ||||
Research and development expenses | (7,145) | (9,158) | (1,421) | ||||
Total operating expenses | (114,717) | (86,060) | (13,356) | ||||
Loss from operations | (42,614) | (39,257) | (6,092) | ||||
Other expenses, net: | |||||||
Interest income, net | 540 | 582 | 90 | ||||
Exchange (loss)/gain | (323) | 26 | 4 | ||||
Gain/(loss) from an equity method investment | 287 | (178) | (28) | ||||
Others, net | 670 | 1,803 | 279 | ||||
Loss before income taxes | (41,440) | (37,024) | (5,747) | ||||
Income tax expense | 258 | 258 | 40 | ||||
Net loss | (41,182) | (36,766) | (5,707) | ||||
Net loss attributable to TuanChe Limited's shareholders | (41,182) | (36,766) | (5,707) | ||||
Net loss attributable to the Non-controlling interests | - | - | - | ||||
Net loss | (41,182) | (36,766) | (5,707) | ||||
Other comprehensive loss: | |||||||
Foreign currency translation adjustments | (3,776) | (1,888) | (293) | ||||
Total other comprehensive loss | (3,776) | (1,888) | (293) | ||||
Total comprehensive loss | (44,958) | (38,654) | (6,000) | ||||
Comprehensive loss attributable to: | |||||||
TuanChe Limited's shareholders | (44,958) | (38,654) | (6,000) | ||||
Non-controlling interests | - | - | - | ||||
Net loss per share | |||||||
Basic and diluted | (0.13) | (0.12) | (0.02) | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 305,552,839 | 307,608,043 | 307,608,043 | ||||
TUANCHE LIMITED | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the nine months ended September 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net revenues | |||||||
Offline Marketing Services: | |||||||
Auto shows | 121,677 | 191,273 | 29,685 | ||||
Special promotion events | 3,775 | 3,240 | 503 | ||||
Virtual dealership, online marketing services and others | 39,016 | 79,910 | 12,402 | ||||
Total net revenues | 164,468 | 274,423 | 42,590 | ||||
Cost of revenues | (43,642) | (65,683) | (10,194) | ||||
Gross profit | 120,826 | 208,740 | 32,396 | ||||
Operating expenses: | |||||||
Selling and marketing expenses | (171,942) | (200,726) | (31,152) | ||||
General and administrative expenses | (68,267) | (47,629) | (7,392) | ||||
Research and development expenses | (24,033) | (26,880) | (4,172) | ||||
Total operating expenses | (264,242) | (275,235) | (42,716) | ||||
Loss from operations | (143,416) | (66,495) | (10,320) | ||||
Other expenses, net: | |||||||
Interest income, net | 1,991 | 1,078 | 167 | ||||
Exchange gain | 267 | 272 | 42 | ||||
Gain/(loss) from an equity method investment | 339 | (398) | (62) | ||||
Impairment of a long-term investment | - | (700) | (109) | ||||
Others, net | 2,256 | 6,107 | 949 | ||||
Loss before income taxes | (138,563) | (60,136) | (9,333) | ||||
Income tax expense | 774 | 774 | 120 | ||||
Net loss | (137,789) | (59,362) | (9,213) | ||||
Net loss attributable to TuanChe Limited's shareholders | (137,667) | (59,362) | (9,213) | ||||
Net loss attributable to the Non-controlling interests | (122) | - | - | ||||
Net loss | (137,789) | (59,362) | (9,213) | ||||
Other comprehensive loss: | |||||||
Foreign currency translation adjustments | (2,900) | (2,762) | (429) | ||||
Total other comprehensive loss | (2,900) | (2,762) | (429) | ||||
Total comprehensive loss | (140,689) | (62,124) | (9,642) | ||||
Comprehensive loss attributable to: | |||||||
TuanChe Limited's shareholders | (140,567) | (62,124) | (9,642) | ||||
Non-controlling interests | (122) | - | - | ||||
Net loss per share | |||||||
Basic and diluted | (0.45) | (0.19) | (0.03) | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 304,004,138 | 306,465,616 | 306,465,616 | ||||
TUANCHE LIMITED | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the three months ended September 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net loss | (41,182) | (36,766) | (5,707) | ||||
Add: | |||||||
Depreciation and amortization | 1,788 | 1,488 | 231 | ||||
Subtract: | |||||||
Interest income, net | 540 | 582 | 90 | ||||
EBITDA | (39,934) | (35,860) | (5,566) | ||||
Add: | |||||||
Share-based compensation expenses | 2,918 | 2,334 | 362 | ||||
Adjusted EBITDA | (37,016) | (33,526) | (5,204) | ||||
Net loss | (41,182) | (36,766) | (5,707) | ||||
Add: | |||||||
Share-based compensation expenses | 2,918 | 2,334 | 362 | ||||
Adjusted net loss | (38,264) | (34,432) | (5,345) | ||||
Adjusted net loss attributable to TuanChe Limited's | (38,264) | (34,432) | (5,345) | ||||
Adjusted net loss attributable to the Non-controlling | - | - | - | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 305,552,839 | 307,608,043 | 307,608,043 | ||||
Adjusted net loss per share from operations | |||||||
Basic and diluted | (0.13) | (0.11) | (0.02) | ||||
TUANCHE LIMITED | |||||||
(Amount in thousands, except share and per share data) | |||||||
For the nine months ended September 30, | |||||||
2020 | 2021 | ||||||
RMB | RMB | US$ | |||||
Net loss | (137,789) | (59,362) | (9,213) | ||||
Add: | |||||||
Depreciation and amortization | 5,234 | 6,122 | 950 | ||||
Subtract: | |||||||
Interest income, net | 1,991 | 1,078 | 167 | ||||
EBITDA | (134,546) | (54,318) | (8,430) | ||||
Add: | |||||||
Share-based compensation expenses | 14,765 | 6,749 | 1,047 | ||||
Change of guarantee liability | - | 1,542 | 239 | ||||
Impairment of a long-term investment | - | 700 | 109 | ||||
Adjusted EBITDA | (119,781) | (45,327) | (7,035) | ||||
Net loss | (137,789) | (59,362) | (9,213) | ||||
Add: | |||||||
Share-based compensation expenses | 14,765 | 6,749 | 1,047 | ||||
Change of guarantee liability | - | 1,542 | 239 | ||||
Impairment of a long-term investment | - | 700 | 109 | ||||
Adjusted net loss | (123,024) | (50,371) | (7,818) | ||||
Adjusted net loss attributable to TuanChe Limited's shareholders | (122,902) | (50,371) | (7,818) | ||||
Adjusted net loss attributable to the Non-controlling interests | (122) | - | - | ||||
Weighted average number of ordinary shares | |||||||
Basic and diluted | 304,004,138 | 306,465,616 | 306,465,616 | ||||
Adjusted net loss per share from operations | |||||||
Basic and diluted | (0.40) | (0.16) | (0.03) | ||||
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SOURCE TuanChe Limited
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