TuanChe (TC) Reports Q1 Loss of $0.02, Revenues Beat

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TuanChe Announces Unaudited First Quarter 2020 Financial Results

July 2, 2020 6:00 AM EDT

BEIJING, July 2, 2020 /PRNewswire/ -- TuanChe Limited ("TuanChe", "Company" ,"we" or "our") (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

Key First Quarter 2020 Financial and Operating Metrics Compared with the Prior Year Period

The Company's financial and operational results for the first quarter of 2020 have been materially and adversely impacted by the COVID-19 pandemic:

Net revenues decreased by 92.1% to RMB9.7 million (US$1.4 million) from RMB122.9 million. Gross profit decreased by 93.6% to RMB5.7 million... More