Home Business Daily Youxian lost 1 billion in the third quarter and its stock price fell more than 60% after listing | State-owned Assets | Loss | E-commerce

Daily Youxian lost 1 billion in the third quarter and its stock price fell more than 60% after listing | State-owned Assets | Loss | E-commerce

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[Epoch Times November 25, 2021](Epoch Times reporter Liu Yi comprehensive report) Daily Youxian, a fresh food e-commerce company in mainland China, recently released its third-quarter financial report showing that its loss doubled over the same period last year. Daily Youxian’s share price has also continued to fall, having fallen by more than 60% since its listing.

Daily Youxian released its third-quarter financial report on November 12, showing that its operating income in the third quarter was 2.121.9 billion yuan, an increase of 47.2% over the same period last year. Daily Youxian’s net profit attributable to shareholders of the parent company was -974 million yuan. The loss in the same period last year was 483 million yuan. This year’s loss doubled.

While losing money, the operating costs of Daily Fresh Food continued to rise. In the third quarter, daily premium fresh operating expenses were RMB 1.231 billion, compared with RMB 728 million in the same period last year.

Daily Youxian’s cash and cash equivalents were 2.172 billion yuan as of September 30, and current liabilities amounted to 3.223 billion yuan. The cash in hand can no longer cover short-term debt.

Daily Youxian’s share price also fell from the issue price of US$13 to US$4.98 on November 23, a drop of more than 60%.

The shareholders who invested in Daily Youxian also suffered heavy losses, including three state-owned assets.

According to a report on November 24 by the financial account of CICC Online, “Huajin Business Review”, on the eve of the daily Youxian listing, CICC, as well as some state-owned assets in Shanghai and Jiangsu, and Qingdao state-owned assets participated in the daily at a valuation of 3 billion U.S. dollars. Youxian’s F round of financing.

The above-mentioned state-owned assets participating in the F round of financing have suffered heavy losses today. CICC and the state-owned assets of Shanghai and Jiangsu have contributed 70.6 million U.S. dollars (about 450 million yuan) to a loss of 48 million U.S. dollars (about 307 million yuan); The 2 billion yuan invested by Qingdao’s state-owned assets was the worst loss, with a decrease of 1.37 billion yuan; the 36 million US dollars (about 230 million yuan) invested by Changshu’s state-owned assets suffered a loss of 160 million yuan.

According to reports, in just one and a half years, this batch of state-owned investments lost nearly 70%. Qingdao State-owned Assets, CICC, Shanghai-Jiangsu State-owned Assets, and Changshu State-owned Assets have collectively lost more than 1.8 billion yuan in daily investment in fresh produce.

Regarding the future development of Daily Fresh Food, Mainland Finance and Economics’ self-media “Kanjian Finance” stated on November 25 that from the data of the third quarter, Daily Fresh Food is still very far away from profitability. Moreover, fresh food e-commerce and community group buying have no business threshold. How to occupy the minds of users and cultivate the habits of users is the core, which causes companies to take the path of expansion; nowadays, fresh food chooses to improve efficiency , Abandoning some cities will inevitably lead to user loss.

“Kanjian Finance” believes that the prospect of Daily Fresh is not optimistic. Entering the second half of community group buying, Daily Fresh’s road ahead is full of challenges and difficulties.

Editor in charge: Lin Congwen

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