Zhenkun's GMV in the first quarter reached 2.35 billion yuan, a year-on-year decrease of 1.0%; the number of customers reached 46,135, an increase of 29% over the previous year.
The Zhitong Finance App learned that before the US stock market on May 21 (Tuesday), ZKH.US (ZKH.US) announced the results for the first quarter of the 2024 fiscal year. According to financial reports, Zhenkun Bank's Q1 revenue was 1,86.4 billion yuan (unit: RMB, same below), down 4% year on year, falling short of market expectations; net loss was 90,901 million yuan, loss decreased 7.1% year on year; loss per ADS was 0.56 yuan (contract 0.08 US dollars), and ADS loss per share for the same period last year was 4.08 yuan.
The adjusted loss per share was $0.27 (contract $0.04), and the market expected loss was $0.06.
Zhenkun Bank's GMV in the first quarter reached 2.35 billion yuan, down 1.0% year on year; the number of customers reached 46,135, up 29% year on year; gross margin was 18.0%, compared to 17.1% in the same period last year.
As of March 31, 2024, the company had cash and cash equivalents, restricted cash and short-term investments of $2.03 billion, compared to $2.12 billion as at 31 December 2023.
The net cash used by Zhen Kun Bank's operating activities in the first quarter was 224.3 million yuan, compared to 263.4 million yuan in the same period last year.