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Ucommune International Ltd Announces Unaudited Fourth Quarter and Full Year 2020 Financial Results

Share this article Share this article BEIJING, April 15, 2021 /PRNewswire/ Ucommune International Ltd. (NASDAQ: UK) ( Ucommune or the Company ), a leading agile office space manager and provider in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. Fourth Quarter 20  Financial Highlights Net revenues were RMB278.7 million, representing an increase of 39.4% from the third quarter of 2020 and a decrease of 4.8% from the fourth quarter of 2019. Net loss was RMB149.1 million, narrowing by 11.9% from the third quarter of 2020 and by 36.8% from the fourth quarter of 2019. Adjusted net income was RMB62.8 million, compared with an adjusted net loss (non-GAAP) of RMB122.8 million in the third quarter of 2020 and an adjusted net loss (non-GAAP) of RMB194.6 million in the fourth quarter of 2019. For a reconciliation of net loss to adjusted net income, see the Non-GAAP Financial Measures section and the table cap

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