The net income of the group car Q3 was 61.1 million yuan, and 15,512 new cars were sold

According to the U.S. Stock Research Agency, the Zhitong Finance APP learned that on January 13, 2022, the leading auto trading and service platform Tuanche (TC. US) announced third quarter 2021 financial results. Affected by the domestic scattered epidemic and the global chip shortage, the third quarter of 2021 was only held in 65 cities, a year-on-year decrease of 57.2%.

Q3 Key Figures:

In the third quarter of 2021, the net income of Tuanche was RMB61.1 million, a decrease of 38.9% year-on-year, and the gross profit was RMB46.8 million, a decrease of 35.1% year-on-year.

In the third quarter, the net revenue of virtual dealers, online marketing services and other businesses of Tuanche was 26.62 million yuan, an increase of 72.6% year-on-year; 15,512 new vehicles were sold, and the GMV was 2.2 billion yuan.

Key data for the first three quarters:

In the first three quarters of 2021, the net income of Tuanche was 274.4 million yuan, an increase of 66.9% year-on-year, and the gross profit was 208.7 million yuan, an increase of 72.8% year-on-year.

Net revenue from virtual dealerships, online marketing services and other businesses increased by 104.8% year-on-year to RMB79.91 million in the third quarter, while new car transactions in the first three quarters increased by 12.3% year-on-year and GMV reached RMB11.2 billion.

Wen Wei, founder and CEO of Tuanche, said: "In the third quarter of 2021, Tuanche was once again impacted by the macro environment. The scattered emergence of the epidemic and the shortage of new cars caused by the shortage of chips had a direct impact on our offline auto show business, resulting in a 38.9% year-on-year decrease in net revenue in the third quarter to 61.1 million yuan. But at the same time, we further advanced our online business, adjusted our cost structure and narrowed our net loss attributable to shareholders by 10.7% year-on-year. ”

"As we announced on January 5, Tuanche will enter a new field of electric vehicle manufacturing. We are having open discussions with potential strategic partners and will select the best partners to ensure maximum synergy. With the active promotion of policies, the accelerated construction of infrastructure and the gradual maturity of related technologies, consumers' recognition of electric vehicles is rapidly increasing. I believe that Tuanche's innovative business model, large user base and deep consumer insights, as well as the integration of a leading sales network and the industry's top design, R&D and production teams and potential strategic partners, will lay a solid foundation for future success. ”

Yu Chenxi, Deputy Chief Financial Officer of Tuanche, said: "As expected, our performance in the third quarter was affected by the epidemic and the decline in the overall automotive market. In response to the challenges of the third quarter, we remained focused on cost containment, reducing net loss attributable to shareholders to $36.77 million from $41.18 million in the year-ago quarter. We are excited to see that with the entry of tuanche into the field of electric vehicle manufacturing, the company has opened up a new path while continuously innovating to better meet consumer needs. ”

Tuanche expects that the business in the fourth quarter of 2021 will continue to be affected by the epidemic and chip shortages, and the net income will be 70 million yuan to 80 million yuan.