Secoo Holding Limited (“Secoo,” the “Company” or “We”) (NASDAQ:
SECO), Asia's leading online integrated upscale products and
services platform, today announced its unaudited financial results
for the six months ended June 30, 2022.
Highlights for First Half
2022:
- GMV1 reached
RMB3,299.8 million (US$492.6 million) for 1H 2022, compared with
RMB5,027.8 million for 1H 2021.
- Total number of
orders2 was 880.3 thousand for 1H 2022, compared with
1,440.1 thousand for 1H 2021.
- Number of active
customers3 was 408.9 thousand for 1H 2022, compared with
568.9 thousand for 1H 2021.
- Total revenues
were RMB1,164.3 million (US$173.8 million) for 1H 2022, compared
with RMB1,525.6 million for 1H 2021.
_________________________
1 GMV, or Gross Market Value, refers to the
total value of all orders of products and services, excluding the
value of whole car sales, placed on our online platform and in our
offline experience centers, regardless of whether the products are
delivered or returned or whether the services are canceled during
the period presented. 2 Total orders refer to the
total number of orders of products and services, excluding the
number of whole car sales, placed on our online platform and in our
offline experience centers, regardless of whether the products are
delivered or returned or whether the services are canceled during
the period presented.
3 Active customer refers to a customer who made at least
one account purchase during the period presented.
Commentary
Mr. Richard Rixue Li, Chairman and Chief
Executive Officer of Secoo, commented, “Against the backdrop of
macro turbulence throughout 2022, we maintained our focus on
optimizing operations and continued to drive value for our high-end
customers, paving the way for our sustainable, long-term growth.
Together with our upgraded back-office system, our strategic
initiatives across supply chain, customer service, merchant support
and brand marketing are helping us lay a solid and systematic
foundation to improve our operating efficiencies and our unique
integrated online and offline platforms. Our concerted efforts are
further strengthening our position in capturing the evolving demand
for luxury goods and exquisite lifestyle selections among Chinese
consumers.”
Mr. Shaojun Chen, Chief Financial Officer of
Secoo, said, “In the first half of 2022, we continued to improve
our cost management to sustain healthy development of our core
business. As we pursue solid organic growth pathways and explore
valuable partnerships that enhance our suite of offerings, we also
actively engaging in dialogues with our partners and customers to
remain at the vanguard of industry trends and better position
ourselves to secure additional business opportunities.”
Business Development
Highlights
- In March 2022, Secoo and Great
World Lux Pte. Ltd (“Great World”), an affiliate of the Company’s
strategic partner, L Catterton Asia, reached an agreement to
refinance the three-year convertible note issued by the Company to
Great World on August 8, 2018 in an aggregate principal amount of
US$175,000,000. This transaction further strengthens the Company’s
balance sheet and enhances its ability to advance tech-enabled
innovation and drive quality growth, supporting value creation for
shareholders and partners.
- In March 2022, Secoo incorporated
the E-commerce Payment of WeChat Pay and Credit Pay Installment of
Ant Credit Pay into its integrated platform to further diversify
its payment options and enhance the funds settlement experience for
its platform merchants. With the access to the E-commerce Payment
solution, Secco allows the merchants on its platform to settle
their transaction funds through the WeChat Pay system, offering
higher efficiency and enhanced security. In addition, Secoo enables
its customers to choose installment payment options through Ant
Credit Pay on Secoo’s platform and also enjoy the benefits of
random coupons, which further enhances Secoo high-end customers’
purchase experiences.
- In March 2022, Secoo upgraded its
merchant back-office system featuring a brand-new homepage layout
along with more advanced merchandising tools and broad-based
management support functions. Notably, the new merchant back-office
system offers a large number of store decoration visualization
components for merchants to customize their online stores. The
upgraded system also enables merchants to comprehensively manage
products and orders more efficiently.
- In April 2022, Secoo entered into a
strategic partnership with ZiWU, a subsidiary of Meta Media. The
partnership is focused on the exhibition and sale of artworks,
collectibles and NFT art. Both parties will share resources and
leverage respective advantages to integrate the whole industry
chain and jointly explore ways to capture opportunities in the
growing art market, with an emphasis on digital forms of art.
- In August 2022, Secoo entered into
share purchase agreements with Beijing HCYK Corporation Management
Partner (“HCYK”) and Timing Capital Limited (“Timing Capital”).
Pursuant to the share purchase agreements, HCYK will subscribe for
3,750,000 Class A ordinary shares of the Company for an aggregate
price of US$3 million, and Timing Capital will subscribe for
1,250,000 Class A ordinary shares of the Company for an aggregate
price of US$1 million, subject to customary closing conditions.
Investment from HCYK and Timing Capital represents a strong vote of
confidence in the Company’s position as a prominent destination for
luxury online shopping in China.
- In September 2022, Secoo formed a
strategic cooperation with Aladdin Legend Technology Co., Ltd.
(“Aladdin Technology”), a subsidiary of Aladdin Holding Group.
According to the cooperation agreement, Aladdin Technology is
committed to investing in and developing innovative businesses in
the fields of community economy and industrial Internet. The two
parties will jointly explore business opportunities in luxury
shopping and value-added services, tapping into community economy
potentials and providing support for Chinese domestic brands’
international development. For this cooperation, Aladdin Technology
will leverage its strengths in capital, talents and technology, and
Secoo will leverage its superior experience in high-end fashion
supply chain and sales channels.
First Half 2022 Financial
Results
GMV was RMB3,299.8 million
(US$492.6 million) for the first six months of 2022, a decrease of
34.4% from RMB5,027.8 million for the same period in 2021.
Total number of orders was
880.3 thousand for the first six months of 2022, a decrease of
38.9% from 1,440.1 thousand for the same period in 2021.
Total revenues for the first
six months of 2022 were RMB1,164.3 million (US$173.8 million),
compared with RMB1,525.6 million for the same period in 2021. This
decrease was primarily attributable to a slowdown in demand of
discretionary spending and delayed logistics services worldwide due
to the lingering impact of global COVID-19 pandemic.
Cost of revenues increased by
41.9% to RMB1,735.9 million (US$259.2 million) for the first six
months of 2022 from RMB1,223.1 million for the same period in 2021,
primarily due to the increase of inventory write-downs.
Gross loss was RMB 571.6
million (US$85.3 million) for the first six months of 2022,
compared with gross profit of RMB302.5 million for the same period
in 2021.
Gross Margin decreased to
negative 49.1% for the first six months of 2022, compared with
19.8% for the same period in 2021. The decrease was mainly due to
the increase of inventory write-downs.
Operating expenses for the
first six months of 2022 decreased by 38.3% to RMB191.7 million
(US$28.6 million) from RMB310.9 million for the same period in
2021.
Fulfillment expenses for the
first six months of 2022 decreased by 69.9% to RMB25.1 million
(US$3.7 million) from RMB83.2 million for the same period in 2021.
The decrease was primarily attributable to (i) the decrease of
delivery expenses, (ii) the decrease in staff compensation and
benefits expenses, as well as (iii) the decrease in third-party
payment platform charges.
Marketing expenses for the
first six months of 2022 decreased by 66.9% to RMB39.1 million
(US$5.8 million) from RMB118.0 million for the same period in 2021.
The decrease was mainly due to (i) the decrease in online and
offline advertising expenses, (ii) the decrease in staff
compensation and benefits expenses and sales commission, as well as
(iii) the decrease in office rental and maintenance.
Technology and content development
expenses for the first six months of 2022 decreased by
49.9% to RMB27.3 million (US$4.1 million) from RMB54.5 million for
the same period in 2021, primarily due to the decrease in staff
compensation and benefits expenses for our technology and content
development personnel and outsourced staff.
General and administrative
expenses for the first six months of 2022 increased by
81.7% to RMB100.2 million (US$15.0 million) from RMB55.1 million
for the same period in 2021. The increase was mainly due to the
increase of credit loss, partially offset by the decrease in staff
compensation and benefits expenses.
Loss from operations for the
first six months of 2022 was RMB763.3 million (US$114.0 million),
compared with RMB8.3 million for the same period in 2021.
Non-GAAP loss from operations,
which excludes share-based compensation expenses, was RMB763.7
million (US$114.0 million) for the first six months of 2022,
compared with RMB6.0 million for the same period in 2021.
Income tax benefit was RMB7.9
million (US$1.2 million) for the first six months of 2022, compared
with RMB15.1 million for the same period in 2021.
Net loss was RMB816.5 million
(US$121.9 million) for the first six months of 2022, compared with
RMB39.8 million for the same period in 2021.
Non-GAAP net loss, which
excludes share-based compensation expenses, was RMB816.9 million
(US$122.0 million) for the first six months of 2022, compared with
RMB37.5 million for the same period in 2021.
Net loss attributable to ordinary
shareholders of Secoo Holding Limited for the first six
months of 2022 was RMB816.4 million (US$121.9 million), compared
with RMB40.9 million for the same period in 2021.
Basic and diluted net loss per
share were both RMB23.11 (US$3.45) for the first six
months of 2022, compared with RMB1.16 for the same period in 2021.
Basic and diluted net loss per American depositary share (“ADS”)
were both RMB11.56 (US$1.73) for the first six months of 2022,
compared with RMB0.58 for the same period in 2021.
Non-GAAP basic and diluted net loss per
share were both RMB23.12 (US$3.45) for the first six
months of 2022, compared with RMB1.09 for the same period in 2021.
Non-GAAP basic and diluted net loss per ADS were both RMB11.56
(US$1.73) for the first six months of 2022, compared with RMB0.55
for the same period in 2021.
Cash and Restricted Cash
As of June 30, 2022, the Company had cash, cash
equivalents and restricted cash of RMB91.9 million (US$13.7
million).About Secoo Holding Limited
Secoo Holding Limited (“Secoo”) is Asia’s
leading online integrated upscale products and services platform.
Secoo provides customers a wide selection of authentic upscale
products and lifestyle services on the Company’s integrated online
and offline shopping platform which consists of the Secoo.com
website, mobile applications and offline experience centers,
offering over 420,000 SKUs, covering over 3,800 global and domestic
brands. Supported by the Company’s proprietary database of upscale
products, authentication procedures and brand cooperation, Secoo is
able to ensure the authenticity and quality of every product
offered on its platform.
For more information, please visit
http://ir.secoo.com.
Use of Non-GAAP Financial
Measures
To supplement our consolidated financial
statements which are presented in accordance with U.S. GAAP, we
also use non-GAAP income from operations, non-GAAP net income,
non-GAAP net income attributable to ordinary shareholders of Secoo
Holding Limited, and non-GAAP basic and diluted net income per
share and ADS as additional non-GAAP financial measures. We present
these non-GAAP financial measures because they are used by our
management to evaluate our operating performance. We define
non-GAAP income from operations as income from operations excluding
share-based compensation expenses. We define non-GAAP net income as
net income excluding share-based compensation expenses. We define
non-GAAP net income per share as non-GAAP net income attributable
to ordinary shareholders of Secoo Holding Limited dividing by
weighted average number of basic and diluted share outstanding,
including the dilutive effect of share-based awards as determined
under the treasury stock method. We define non-GAAP basic and
diluted net income per ADS as non-GAAP basic and diluted net income
per share divided by two as two ADSs represent one ordinary share.
We also believe that these non-GAAP financial measures provide
useful information to investors and others in understanding and
evaluating our consolidated results of operations in the same
manner as our management and in comparing financial results across
accounting periods and to those of our peer companies.
The use of non-GAAP financial measures has
certain limitations. These non-GAAP measures exclude certain items
that have been and will continue to be incurred in the future and
are not reflected in the presentation of the non-GAAP financial
measures. These non-GAAP financial measures should be considered in
addition to results prepared in accordance with U.S. GAAP, and
should not be considered a substitute for or superior to U.S. GAAP
results. In addition, these non-GAAP financial measures may not be
comparable to similarly titled measures utilized by other companies
since such other companies may not calculate such measures in the
same manner as Secoo does.
Reconciliation of these non-GAAP financial
measures to the most directly comparable U.S. GAAP financial
measure is set forth at the end of this release.
Exchange Rate Information
This press release contains the translation 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 were made at the
exchange rate of RMB6.6981 to US$1.0, the noon buying rate in New
York for cable transfers of RMB as certified for customs purposes
by the Federal Reserve Bank of New York in effect as of June 30,
2022.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include but are not limited to Secoo management quotes and the
Company’s financial outlook. These forward-looking statements can
be identified by terminology such as “will,” “estimate,” “project,”
“predict,” “believe,” “expect,” “anticipate,” “intend,”
“potential,” “plan,” “goal” and similar statements. Secoo
Holding Limited may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. These forward-looking statements
include, but are not limited to, statements about: the Company’s
goals and strategies; its future business development, financial
condition and results of operations; its ability to attract and
retain new customers and to increase revenues generated from repeat
customers; its expectations regarding demand for and market
acceptance of its products and services; trends and competition in
China’s e-commerce market; changes in its revenues and certain cost
or expense items; the expected growth of the Chinese e-commerce
market; Chinese governmental policies relating to the Company’s
industry and general economic conditions in China. For
additional information on these and other important factors that
could adversely affect the Company's business, financial condition,
results of operations and prospects, please see its filings with
the U.S. Securities and Exchange Commission.
For investor and media inquiries, please
contact:
In China:Secoo Holding LimitedJingbo MaTel: +86 (10)
6588-0135E-mail: ir@secoo.com
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Secoo@tpg-ir.com
In the United States:The Piacente Group, Inc.Brandi PiacenteTel:
+1-212-481-2050E-mail: Secoo@tpg-ir.com
SECOO HOLDING LIMITED |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS |
(All amounts in thousands, except for share
data) |
|
|
|
For the Six Months Ended June 30, |
|
|
2021 |
|
2022 |
|
|
|
RMB |
|
RMB |
|
US$ |
Revenues: |
|
|
|
|
|
|
Merchandise sales |
|
1,424,859 |
|
|
1,143,486 |
|
|
170,718 |
|
Marketplace and other
services |
|
100,762 |
|
|
20,775 |
|
|
3,102 |
|
Total
revenues |
|
1,525,621 |
|
|
1,164,261 |
|
|
173,820 |
|
Cost of revenues |
|
(1,223,099 |
) |
|
(1,735,905 |
) |
|
(259,164 |
) |
Gross
profit/(loss) |
|
302,522 |
|
|
(571,644 |
) |
|
(85,344 |
) |
Operating
expenses: |
|
|
|
|
|
|
Fulfillment expenses |
|
(83,188 |
) |
|
(25,064 |
) |
|
(3,742 |
) |
Marketing expenses |
|
(118,029 |
) |
|
(39,097 |
) |
|
(5,837 |
) |
Technology and content
development expenses |
|
(54,492 |
) |
|
(27,304 |
) |
|
(4,076 |
) |
General and administrative
expenses |
|
(55,148 |
) |
|
(100,206 |
) |
|
(14,960 |
) |
Total operating
expenses |
|
(310,857 |
) |
|
(191,671 |
) |
|
(28,615 |
) |
Loss from
operations |
|
(8,335 |
) |
|
(763,315 |
) |
|
(113,959 |
) |
Other income
(expenses): |
|
|
|
|
|
|
Interest income |
|
568 |
|
|
45 |
|
|
7 |
|
Interest expense |
|
(60,727 |
) |
|
(61,303 |
) |
|
(9,152 |
) |
Foreign currency exchange
loss |
|
(942 |
) |
|
(502 |
) |
|
(75 |
) |
Others |
|
14,494 |
|
|
597 |
|
|
89 |
|
Loss before income
tax |
|
(54,942 |
) |
|
(824,478 |
) |
|
(123,090 |
) |
Income tax benefit |
|
15,116 |
|
|
7,938 |
|
|
1,185 |
|
Net loss |
|
(39,826 |
) |
|
(816,540 |
) |
|
(121,905 |
) |
Less: Gain (loss) attributable
to redeemable non-controlling interest |
|
964 |
|
|
(195 |
) |
|
(29 |
) |
Less: Loss attributable to
non-redeemable non-controlling interest |
|
(167 |
) |
|
(187 |
) |
|
(28 |
) |
Net loss attributable
to Secoo Holding Limited |
|
(40,623 |
) |
|
(816,158 |
) |
|
(121,848 |
) |
Accretion to redeemable
non-controlling interest redemption value |
|
(248 |
) |
|
(247 |
) |
|
(37 |
) |
Net loss attributable
to ordinary shareholders of Secoo Holding Limited |
|
(40,871 |
) |
|
(816,405 |
) |
|
(121,885 |
) |
|
|
|
|
|
|
|
Net loss per
share |
|
|
|
|
|
|
— Basic |
|
(1.16 |
) |
|
(23.11 |
) |
|
(3.45 |
) |
— Diluted |
|
(1.16 |
) |
|
(23.11 |
) |
|
(3.45 |
) |
|
|
|
|
|
|
|
Net loss per
ADS |
|
|
|
|
|
|
— Basic |
|
(0.58 |
) |
|
(11.56 |
) |
|
(1.73 |
) |
— Diluted |
|
(0.58 |
) |
|
(11.56 |
) |
|
(1.73 |
) |
|
|
|
|
|
|
|
Weighted average
number of shares outstanding used in computing net loss per
share |
|
|
|
|
|
|
— Basic |
|
35,326,281 |
|
|
35,326,281 |
|
|
35,326,281 |
|
— Diluted |
|
35,326,281 |
|
|
35,326,281 |
|
|
35,326,281 |
|
|
|
|
|
|
|
|
|
|
|
SECOO HOLDING LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
(All amounts in thousands, except for share
data) |
|
|
|
As of December 31, |
|
As of June 30, |
|
|
2021 |
|
2022 |
|
|
|
RMB |
|
RMB |
|
US$ |
Assets |
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
156,108 |
|
|
78,346 |
|
|
11,697 |
|
Restricted cash |
|
14,211 |
|
|
12,996 |
|
|
1,940 |
|
Accounts receivable, net |
|
10,482 |
|
|
2,884 |
|
|
431 |
|
Inventories |
|
2,995,460 |
|
|
2,532,563 |
|
|
378,102 |
|
Advances to suppliers |
|
351,475 |
|
|
186,997 |
|
|
27,918 |
|
Prepayments and other current
assets |
|
600,416 |
|
|
587,013 |
|
|
87,639 |
|
Total current
assets |
|
4,128,152 |
|
|
3,400,799 |
|
|
507,727 |
|
Non-current
assets |
|
|
|
|
|
|
Property and equipment,
net |
|
41,319 |
|
|
31,380 |
|
|
4,685 |
|
Restricted cash |
|
597 |
|
|
597 |
|
|
89 |
|
Investment in equity
investees |
|
28,477 |
|
|
29,316 |
|
|
4,377 |
|
Deferred tax assets |
|
242,211 |
|
|
259,633 |
|
|
38,761 |
|
Goodwill |
|
807 |
|
|
— |
|
|
— |
|
Operating lease right-of-use
assets |
|
20,809 |
|
|
12,948 |
|
|
1,933 |
|
Other non-current assets |
|
8,506 |
|
|
7,482 |
|
|
1,117 |
|
Total non-current
assets |
|
342,726 |
|
|
341,356 |
|
|
50,962 |
|
Total
assets |
|
4,470,878 |
|
|
3,742,155 |
|
|
558,689 |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
Short-term borrowings and
current portion of long-term borrowings |
|
32,941 |
|
|
26,172 |
|
|
3,907 |
|
Accounts payable |
|
409,519 |
|
|
401,962 |
|
|
60,011 |
|
Advances from customers |
|
197,076 |
|
|
307,978 |
|
|
45,980 |
|
Income taxes payable |
|
38,337 |
|
|
48,488 |
|
|
7,239 |
|
Accrued expenses and other
current liabilities |
|
623,475 |
|
|
541,995 |
|
|
80,918 |
|
Deferred revenue |
|
20,186 |
|
|
40,706 |
|
|
6,077 |
|
Operating lease
liabilities |
|
13,721 |
|
|
7,990 |
|
|
1,193 |
|
Total current
liabilities |
|
1,335,255 |
|
|
1,375,291 |
|
|
205,325 |
|
Non-current
liabilities |
|
|
|
|
|
|
Long-term borrowings,
excluding current portion |
|
1,348,046 |
|
|
1,461,334 |
|
|
218,171 |
|
Operating lease
liabilities |
|
7,946 |
|
|
5,695 |
|
|
850 |
|
Total non-current
liabilities |
|
1,355,992 |
|
|
1,467,029 |
|
|
219,021 |
|
Total
liabilities |
|
2,691,247 |
|
|
2,842,320 |
|
|
424,346 |
|
|
|
|
|
|
|
|
Mezzanine
Equity |
|
|
|
|
|
|
Redeemable non-controlling
interest |
|
10,300 |
|
|
10,487 |
|
|
1,566 |
|
Total mezzanine
equity |
|
10,300 |
|
|
10,487 |
|
|
1,566 |
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
Class A Ordinary shares
(US$0.001 par value, 150,000,000 shares authorized including class
A shares and class B shares as of December 31, 2021 and June
30,2022, 29,272,306 shares issued and 28,754,852 shares outstanding
as of December 31, 2021 and June 30, 2022, respectively) |
|
198 |
|
|
198 |
|
|
30 |
|
Class B Ordinary shares
(US$0.001 par value, 150,000,000 shares authorized including class
A shares and class B shares, 6,571,429 shares issued and 6,571,429
shares outstanding as of December 31, 2021 and June 30, 2022,
respectively) |
|
41 |
|
|
41 |
|
|
6 |
|
Treasury Stock (517,454 Class
A ordinary shares as of December 31, 2021 and June 30, 2022,
respectively, at cost) |
|
(71,018 |
) |
|
(71,018 |
) |
|
(10,603 |
) |
Additional paid-in
capital |
|
3,558,821 |
|
|
3,558,427 |
|
|
531,259 |
|
Accumulated losses |
|
(1,772,189 |
) |
|
(2,588,594 |
) |
|
(386,467 |
) |
Accumulated other
comprehensive loss |
|
64,739 |
|
|
1,886 |
|
|
283 |
|
Total equity
attributable to ordinary shareholders |
|
1,780,592 |
|
|
900,940 |
|
|
134,508 |
|
Non-redeemable non-controlling
interest |
|
(11,261 |
) |
|
(11,592 |
) |
|
(1,731 |
) |
Total shareholders'
equity |
|
1,769,331 |
|
|
889,348 |
|
|
132,777 |
|
|
|
|
|
|
|
|
Total liabilities,
mezzanine equity and shareholders' equity |
|
4,470,878 |
|
|
3,742,155 |
|
|
558,689 |
|
|
SECOO HOLDING LIMITED |
Reconciliations of GAAP and Non-GAAP Results |
(All amounts in thousands, except for share and per share
data) |
|
|
|
For the Six Months Ended |
|
|
June 30, |
|
|
2021 |
|
2022 |
|
|
|
RMB |
|
RMB |
|
US$ |
Loss from operations |
|
(8,335 |
) |
|
(763,315 |
) |
|
(113,959 |
) |
Add: Share-based compensation
expenses |
|
2,359 |
|
|
(395 |
) |
|
(59 |
) |
Non-GAAP loss from
operations |
|
(5,976 |
) |
|
(763,710 |
) |
|
(114,018 |
) |
|
|
|
|
|
|
|
Net Loss |
|
(39,826 |
) |
|
(816,540 |
) |
|
(121,905 |
) |
Add: Share-based compensation
expenses |
|
2,359 |
|
|
(395 |
) |
|
(59 |
) |
Non-GAAP net
loss |
|
(37,467 |
) |
|
(816,935 |
) |
|
(121,964 |
) |
|
|
|
|
|
|
|
Net loss
attributable to ordinary shareholders of Secoo Holding
Limited |
|
(40,871 |
) |
|
(816,405 |
) |
|
(121,885 |
) |
Add: Share-based compensation
expenses |
|
2,359 |
|
|
(395 |
) |
|
(59 |
) |
Non-GAAP net loss
attributable to ordinary shareholders of Secoo Holding
Limited |
|
(38,512 |
) |
|
(816,800 |
) |
|
(121,944 |
) |
|
|
|
|
|
|
|
Non-GAAP net loss per
share: |
|
|
|
|
|
|
Basic |
|
(1.09 |
) |
|
(23.12 |
) |
|
(3.45 |
) |
Diluted |
|
(1.09 |
) |
|
(23.12 |
) |
|
(3.45 |
) |
|
|
|
|
|
|
|
Non-GAAP net loss per
ADS: |
|
|
|
|
|
|
Basic |
|
(0.55 |
) |
|
(11.56 |
) |
|
(1.73 |
) |
Diluted |
|
(0.55 |
) |
|
(11.56 |
) |
|
(1.73 |
) |
|
|
|
|
|
|
|
Weighted average
number of shares outstanding used in computing the adjusted net
loss per share |
|
|
|
|
|
|
— Basic |
|
35,326,281 |
|
|
35,326,281 |
|
|
35,326,281 |
|
— Diluted |
|
35,326,281 |
|
|
35,326,281 |
|
|
35,326,281 |
|
|
|
|
|
|
|
|
|
|
|
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