Secoo Q3 Profit Down, But Stock Up In Pre-market Trading - Quick Facts

(RTTNews) - Secoo Holding Limited (SECO) reported that its net income attributable to ordinary shareholders for the third quarter of 2020 declined to RMB21.8 million or US$3.2 million from RMB60.9 million in the prior year. Net income per American depositary share were RMB0.30 or US$0.04 for the third quarter of 2020, compared to RMB1.17 in the previous year.

In Monday pre-market trade, SECO was trading at $2.67 up $0.22 or 8.98%.

Non-GAAP net income per ADS were RMB0.34 or US$0.05 for the third quarter of 2020, compared to RMB1.22 in the previous year.

Gross Merchandise Value or GMV for the third-quarter increased by 12.5% to RMB 4.12 billion or US$606.9 million, from RMB 3.66 billion last year.

Total revenues for the third quarter of 2020 was RMB1.37 billion or US$202.3 million compared to RMB1.94 billion in the third quarter of 2019, primarily attributable to the increase in the proportion of business contribution from its marketplace platform business that recognizes revenues on a net basis, and short supply of some luxury goods and delayed logistics services due to the impact of COVID-19 pandemic.