Summary by Futu AI
U-Bicycle Technology Co., Ltd. (the 'Company') announces the unaudited interim financial results for the six months ended June 30, 2024. During the reporting period, the company's revenue was RMB 487,229 thousand, an increase of 86.6% compared to RMB 261,139 thousand in the same period last year. Gross profit was RMB 185,201 thousand, a significant increase of 213.9% compared to RMB 59,020 thousand in the same period last year. However, the company still recorded an operating loss of RMB 530,386 thousand and a loss in the period of RMB 539,808 thousand, but the loss decreased by 3.1% and 1.5% respectively compared to the same period last year. The adjusted net loss for the period (measurement under non-generally accepted accounting principles) was RMB 363,535 thousand, slightly lower than RMB 366,902 thousand in the...Show More