Original title: Youxin released the new first quarter financial report, 2C revenue reached 61.3 million yuan source: three easy life
Today, Youxin, a used car trading service, released its unaudited financial results for the second quarter of fiscal year 2021 ended September 30, 2020. According to the financial report, in the second quarter of 2021, the total revenue of Youxin Group was 76.4 million yuan, compared with 397 million yuan in the same period last year, down 80.76% from the same period last year; the net loss was 259 million yuan, compared with 202 million yuan in the same period last year, an increase of 28.22% over the same period last year; without general accounting standards, the net loss was 275 million yuan, compared with 204 million yuan in the same period last year, an increase of 34.8%. As of September 30, 2020, Youxin ownsCash and cash equivalents219 million yuan. Youxin expects total revenue to reach 275 million to 290 million yuan in the quarter ending December 31, 2020.
From the perspective of revenue composition, Youxin's main source of income is still car sales. Of this total, the commission income was 13.2 million yuan, compared with 176 million yuan in the same period last year; the income from value-added services was 12 million yuan, compared with 158 million yuan in the same period last year; and the income from automobile sales was 36.1 million yuan, compared with 0 yuan in the same period last year. Of this total, Youxin 2C revenue was 61.3 million yuan, compared with 334 million yuan in the same period last year; 2C online second-hand car trading volume was 2653, compared with 23566 in the same period last year; 2C GMV was 293 million yuan, compared with 2.828 billion yuan in the same period last year. Other income from Youxin was 15.1 million yuan, compared with 62.2 million yuan in the same period last year.
In order to help the recovery of used car trading on the platform, Youxin also launched a "used car color grading system" in this quarter. The new system is made up of experienced selection teams. after comprehensive testing, all vehicles on the platform are graded to solve the problem of opacity of second-hand cars. In this system, Youxin relies on its own platform system, through millions of second-hand car condition data modeling, sets the vehicle age, mileage, appearance, interior decoration, working conditions and other indicators to reflect the objective vehicle condition, and then by the professional selection team through the vehicle age, mileage, condition and other factors, consider the quality of the vehicle, and the final evaluation of the vehicle.
Regarding this financial report, Dai Kun, founder, chairman and CEO of Youxin, said that second-hand car finance is the driving force driving business growth, but there are also potential credit risks. Youxin has completed its de-financialization, excluding the financial guarantee liability that put pressure on the core business in the past, and completely transformed into a pure online car purchase model. In the follow-up, the platform will further upgrade the products and services through better order control and supply chain management, and constantly improve the experience of customers buying cars online.