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TC TuanChe

Participants
Cynthia Tan IR Representative
Wei Wen Chief Executive Officer
Chenxi Yu Deputy Chief Financial Officer
Call transcript
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Operator

Good morning and good evening, ladies and gentlemen. Thank you for standing by for TuanChe Limited Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded.

the to turn today, speaker will Ms. I call your over host Now, Representative the Tan, of Cynthia IR Company. ahead, go Please ma'am.

Cynthia Tan

results it Hello, everyone, IR call. earnings conference quarter website XXXX today and welcome on to We TuanChe's as well released Newswire on now available is third as earnings earlier our and services. our

the Litigation please of the provisions note continue, will Reform we Harbor of discussion today contain Private Safe Securities forward-looking Before that statements Act XXXX. made under U.S.

and risks uncertainties. inherent involve statements Forward-looking

hear materially be risks the different Deputy the As law. by followed discuss Wen, included Mr. provide statements, who on overview such, the Company's the of may our does assume regarding our Officer, business results other additional future provide today. Executive Mr. Today, growth SEC. expressed and financial by the Officer, in and not forward-looking information Wei Chenxi except with will any and an Company's from as details Further Statement and Chief Company's release results developments, views is filed who financial obligation strategies required Registration TuanChe Chief any Ronnie, and Financial will our our who to will this be outlook. earnings uncertainties from you'll the update Yu,

our Following to I CEO, questions. open Mr. would go management's prepared Wen. sir. the up said, over remarks, Wei to With now turn that we'll the call call like ahead, to Please

Wei Wen

auto supply today you flare-ups constrained macro on COVID-XX this XXXX us environment third production. that challenging chip for we've shortage a call. Thank a quarter, joining global and Hello against everyone. In our earnings preserved quarter with

streamlined due million. offline we the to of in year-over-year to to RMBXX.X our auto to initiatives, with cancellations to our our conditions, number our While a cost base contracted XX.X% narrowed revenue XX.X% year-over-year attributable net ahead online and shareholders pandemic RMBXX.X loss response Company's our shows by of forged million, by primarily

to more in new electric about leveraging line third to including demand business the quarter design and business strategic Before plan our discuss detail, rising a results expand our we’re our catering talk team. of let's we manufacturing R&D establishing EV our the manufacturing, consumer first platform easy existing a vehicles, into

holding in establishment expected virtual in in at China overall passenger vehicle CAGR XXXX. than year expedite lowered December discussions RMBX.X X.X% in and to year, Association the faster XXXX, XXXX, well their the in announced In the sales Car XXX%. marked potential progress XXXX, we this XX% of While the manner. EV Much close all According million supported as in retail major smart an to from costs interactive infrastructure any, an early in advancements timely partners, transactions reaching million representing China to the strategic is if world, a a with open the reach Passenger to vehicle in attrition China, of of EVs sold RMBX.X were and year features. with EV and business technological of the improved China market by growing have EV XX.X% throughout the that rose a over XX.X% largest globally. as

automotive preference building firsthand and consumers efficiently we products to have customer While automobile XX with are and favorable, more so million be enhance the and base. and served customer feedback of government receive breadth X.X have to emerging many integrator to for EVs we transactions EV million to insights, needs their Furthermore, XX, manufacturing. of extensive facilitate regulation services. industry our XXX with customers our than the protection as operations enable on GMV we network covering the shape EV sales an on can XXXX of demand Under interact we emission to marketplace. and the of cities they and over environmental September standard users OEM success the their rising tremendous and well cumulatively billion direct depth continue our capitalize their our In approximately a where believe this context, given continuously on positioned user purchase of RMBXXX experience sales for our sales the

leading the We existing vehicle will to partners, in in-depth our harness are platform driving secure Through network cooperation tier stake electric are capabilities this the And spanning confident sales revolution. important country our integrating team tier design auto and expansion, and synergistic secure we manufacturing with significant value strategic sales the first we with and strategic our nationwide. we provincial are EV top ensure, building. cities the from R&D potential seamlessly and

segments. Now, quarter business highlights third provide let our from me

further enhanced to organized we compared to RMBXX.X new cities auto marketing strategic in in were industrial-wide XXXX. XX cities cases to of schedule we service generated of retail shows cooperation the shows platforms quarter through auto revenues creating Due across production of positions of and our scenarios consumption by net that representing affected year-over-year offline a number partners. solid resurge XX.X% the shortages, XXX The reduced COVID-XX the First, OEMs. XXX innovative and third in leadership in These chip million shows many XX decrease. with

our data more collaboration offline by Looking marketing to and will scenarios with retail ahead, to our strategic continuing strengthen events we creative with diversify capabilities partners and solutions. leveraging proprietary continue and analytics services our marketing enhance our

to of ROI presence We in will tune services also granular offline accordingly. fine with conduct our further and and online mix relatively potential the to detail marketing in-depth and offline higher identify studies

online marketing let's Next, growth initiatives our on move dealership to virtual in and services.

to our of providing events management quarter training Online the and extended user led by management. increase and year-over-year and services revenues virtual online third to dealer. marketing These XX.X% OEMs improvements net the services we the dealership best-in-class During online services. and attrition in XXXX, marketing for

on we forward, business our our expand building manufacturing. automotive integrated while leveraging to Going innovative as existing EV marketplace further are foundation into

partners open focus a the strengths we EV of strategic with will and efficient changes highly on to synergistic candidates expand XXXX, are allow growth to identify structural solutions. We're our complementary track the on manufacturing, value. auto to strategic energy matter announcement that on to substantial toward continue smarter our mobility Following potential with of January that X, and optimistic more market creation China's discussions

strong our Our the customer were teams with innovative strategic the sales coupled base, tier leading auto manufacturing and insights and a partners business lay as with for as model, and solid well potential success. significant network will R&D customer massive value in-depth foundation operation the top design, unlock building

our turn quarter. our deputy over performance in Chenxi, CFO look our Now, call third I will closer the at financial the to for

Chenxi Yu

for Mr. Thank you, joining Thank Wen. Hello, you us. everyone.

with third RMBXX.X and the the weakening the from Company's given cost in pandemic, RMBXX.X on of markets we from shareholders squarely focused with the million the period same million in out To to loss results revenues the auto quarter were million. our last challenges third management, year. line cutting remained the quarter, RMBXX.X expectations in to attributable navigate impact Our net net

We are futures excited and Company to charge the forward while pursue path our demand. manufacturing capitalize to ready innovation new decision enter continuing on EV are a and consumer to to positioning the

quarter our to Next, XXXX through results. walk financial third I'd like

in numbers start, I RMB our please all stated Before otherwise unless following remarks my in noted. note

the period generated from were in quarter RMBXX.X in a in million of marketing This was million XX.X% year-over-year year. decreasing offline services. from last revenues Our total the result revenues same by RMBXXX XX.X% third decrease

million with auto decreased by to compared our RMBXX.X shows, in quarter auto XX.X% the million third during RMBXX.X in from Revenues marketing XXXX resume quarter Revenues another's offline RMBX.X revenue quarter RMBX Webank. our shows of services from the from progressively to quarter we increased XX.X% RMBXX.X million of generated due our the by As of third services, million the in to of continuous with quarter, expansion million with dealership million compared special third virtual promotional the offline third primarily events XXXX. services these collaboration from XXXX, XXXX. RMBXX.X marketing of online the in the

quarter revenue in same XXXX. due in by decrease year-over-year was the of profits compensation stock of expenses. the the quarter to and XX.X% primarily XX.X% to was million decreased XX.X% the RMBXX.X XXXX million Our RMBXX.X compared gross to XX.X% in promoter in from in from third period in the quarter in third In last to due RMBXX.X quarter, primarily million expenses third marketing decreased The selling RMBXX.X year, expenses third margin the decrease Gross million with the XXXX. of quarter change mix. and by the third

quarter As RMBXX.X personnel. to expenses were Primarily and RMBX.X XXXX the from for in research in XXXX. development RMBX.X quarter million and of of Development G&A offline second decreased events. Research million XXXX. in of of XXXX million a RMBX.X third quarter higher second result to and quarter compared volume stock million compensation expenses expenses of the million in of RMBXX third and RMBXX.X due the increased the with million

million Our year compared million RMBXX.X quarter of second the in period the in loss XXXX. RMBX.X and quarter last same with third in were RMBXX.X continuing from lower higher the operations million compared with

Excluding year. same the ordinary net share-based diluted with million the RMBX.XX period year. adjusted the loss was share was quarter of to in the were attributable effects RMBXX.X last net the million period last compared a of year. compared quarter a Adjusted both RMBXX.X in RMBXX in loss in same the EBITDA same million the basic Company's million in of shareholders with with Adjusted period loss third compared and RMBXX.X quarter the loss RMBX.XX last third compensations, third per in

global pandemic, the the forecast fourth million XXXX, as September cash auto have are our change. our expected ready are results, attributable quarter quarter XX.X% regarding the held Now offline This between the including subject and due XXXX sheet. as This representing decrease operational is now earnings restricted the a XXXX, as concludes take fourth we financial and market the and questions. XX.X%. of third on net to the number conditions RMBXXX.X and of decline Operator, views cash the microchips pandemic refer the estimated Company's which to of be well to remarks our and influence we be approximately COVID-XX as cash the well for prepared for and current of release. we to RMBXX events of end to preliminary our This our of of in the press on shortage turning primarily to COVID-XX promotion balance of In of million equivalents XXXX, further details in you. to events to auto RMBXX impact Thank expect approximately revenues At today. please year-over-year all to million, the reflects special industry. supply shows

Cynthia Tan

again once joining today. you Thank for us

please If have contact. questions, any you feel to free

Operator

This conference call. concludes this

You your may line. Thank now you. disconnect