Secoo Posts Wider Adj. Loss In H1 - Quick Facts

(RTTNews) - Secoo Holding Limited (SECO) reported a first half non-GAAP net loss of RMB 37.5 million, compared to a loss of RMB 31.5 million, a year ago. Non-GAAP net loss per ADS was RMB 0.55 compared to a loss of RMB 0.60.

Net loss attributable to ordinary shareholders was RMB 40.9 million compared to a loss of RMB 36.1 million, previous year. Net loss per ADS was RMB 0.58, compared to a loss of RMB 0.70.

Total revenues were RMB 1.53 billion, compared to RMB 2.31 billion, prior year. The company said the decline was primarily attributable to a slowdown in demand of discretionary spending and delayed logistics services worldwide.

GMV, or Gross Market Value, was RMB 5.03 billion for the first six months of 2021, compared to RMB 6.11 billion, last year.