Shanghai June 1, 2021 / US News / – Chan Valley Investment Management Consulting Co., Ltd. (“Can Valley” or “Company”) (New Trading Office: CANG), the leading car in the Chinese industry Trading service platform, today announced that the 2021 fiscal year was not audited in the first quarter of the year.
Finance and operation highlights in the first quarter: In the first quarter of 2021, the company’s total revenue was 1124 million yuan. Yuan ($ 172 million), an increase of 356.8 percentage of RMB 246 million from the same period last year, exceeding 7.0 percentage of expected upper limit before the management. Income growth is mainly due to the traffic of the vehicle trading service and the growth of car loans to facilitate traffic.
In the first quarter of 2021, the car trading service business revenue was RMB 572 million (US $ 87.24 million), accounting for 50.9 percentage of total income.
- In the first quarter of 2021, the car loan promoted business revenue for RMB 412 million ($ 62.84 million), an increase of 243.0 percentage of RMB 12 billion compared with the same period last year.
- In the first quarter of 2021, the market service business revenue was RMB 62.53 million ($ 9.54 million), an increase of 27.5 percentage of RMB4906 million from the same period last year.
- As of March 31, 2021, the company’s M1 + and M3 + overdue rates of M1 + and M3 + overdue rates of car loans in the deposit period were 1.23 percent and 0.54 percent. As of December 31, 2020, M1 + and M3 + overdue rates were 0.98 percent and 0.42 percent.
- Ci Guyuan, CEO, CEO, said: “After the epidemic, we are very happy to see the company’s stable development. In the first quarter of 2021, It is benefited from the company’s deep-cultivation of the company in the car trading service business, the automotive market service and the loan business, the company’s total revenue reached RMB 1124 million, and the year-on-year increase of 356.8 percentage, exceeding management guidelines upper limit. In addition, in April this year, we are also Zhengzhou Nissan reached a cooperation, and jointly built a new retail model of China’s sinking market car transactions, this is a field with great potential. “
- ” At the same time, though we keep the long-term development of China Auto Industry Optimism, but we also noticed the impact of the supply chain, the market is currently facing. We expect the chip shortage of the automotive industry to last for a long time, bring a certain impact on our overall business. At the same time, domestic financial supply status and supervision environment It is also in a deep change. We will pay close attention to and actively respond, and the situation is to adjust the business form, through innovative products, follow the industry’s change trend. “Lin Jiayuan summed up.
- Mr. Zhang Yongyi, chief financial officer, said: “We are happy to open this year’s Changu, the total income of the first quarter increased by 356.8 percentage, reached a record high, reaching RMB 1124 billion. In addition, Despite the impact of net profit, our first quarter of operating profit reached RMB 160 million. Our good asset status allows us to respond to uncertainty in the current market, and support our new business. Development. As the leading automobile trading service platform in the industry, we are always committed to improving operational efficiency to achieve long-term sustainable growth. “
In the first quarter of 2021, the total amount of new car loans promoted by the company was RMB 10.395 billion ($ 158.7 million). As of March 31, 2021, the company’s car loans accumulated in the loan balance reached RMB 47.534 billion ($ 7.255 billion).
As of March 31, 2021, the number of dealers covered by corporate business networks was 47,017, compared to December 31, 2020,The number of dealers covered by corporate business networks is 48,487. The number of dealers originated from the company to further enhance the operational efficiency of business networks, and eliminated some dealers who did not meet the company’s operating risks and store traffic indicators in this quarter.
In the first quarter of the first quarter:
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Income
In the first quarter of 2021, the company’s total revenue was RMB 1124 billion ($ 172 million), an increase of 356 of RMB 246 million compared to 2020.8 percentage. In the first quarter of 2021, the car trading service business revenue was RMB 572 million ($ 87.24 million), continued to form an important contribution to income. In the first quarter of 2021, car loans contributed to business income and post-car market service business income for RMB 412 million ($ 62.84 million) and RMB 62.53 million ($ 9.54 million).
Business costs and fees In the first quarter of 2021, the company’s total operating costs and costs were RMB 964 million ($ 147 million), and the same period last year was RMB 327 million. The increase in total operating costs and costs is mainly due to the related costs generated by the car trading service business. Because the revenue of the car trading service business, the first quarter of 2021, the company’s marketing and promotion fees, management costs, and the proportion of R & D fees accounted for the total revenue have declined last year.
In the first quarter of 2021, the company’s business cost increased from RMB 191 million to RMB 769 million ($ 117 million) in the same period last year. In the first quarter of 2021, business costs accounted for 68.4 percentage of total revenue. The same period last year is 36.8%, and the changes are mainly due to the growth of traffic service traffic. In the first quarter of 2021, the business and automotive market service business in the car loan, which accounted for approximately 35.6 percentage of its corresponding income.
In the first quarter of 2021, the company’s marketing and promotion costs were RMB 57.84 million ($ 8.83 million), which was RMB 45.77 million last year. This quarter marketing and promotion expenses accounted for 5.1% of total revenue, with a total ratio of 18.6 percentage last year.
In the first quarter of 2021, the company’s management costs were RMB 21.39 million ($ 9.37 million), and the same period was RMB 57.41 million last year. This quarter management fee accounts for 5.5% of total revenue, and the proportion of the same period last year is 23.3 percentage.
In the first quarter of 2021, the company’s R & D fees were RMB 1,359 million ($ 20.7 million), and the same period was RMB 1,256 million last year. R & D expenses in this quarter account for 1.2Percentage, the same period last year is 5.1 percentage.
In the first quarter of 2021, the company’s guarantee liabilities fair value change loss was RMB21.74 million ($ 3.32 million), and the fair value of the guarantee liabilities last year was RMB 768.9 million. The loss of fair value in this quarter guarantee is mainly due to the continued rise in overdue loans and loan default rates since the beginning of the year.
- Operating profit / loss
- In the first quarter of 2021, the company’s operating profit was RMB 16 billion ($ 24.35 million), and the business loss in the same period last year was RMB 8-13.2 million.
- The fair value of equity investment
- In the first quarter of 2021, the company’s equity investment fair value change loss was RMB 447 million ($ 68.21 million), and the same period last year is zero. The company’s ideal car (“Li Auto” is listed on Nasdaq on July 30, 2020. As of March 31, 2021, the company held 10,000,000 ideal cars USF (ADS), each ADS equivalent to two common common stocks.
Net loss
The impact of the fair value of the company’s investment ideal car, in the first quarter of 2021, the company’s net loss was RMB 274 million ($ 41.8 million). In the first quarter of 2021, the company’s non-US General Accounting Standards was adjusted (Non-gaap) net loss was RMB 254 million ($ 38.76 million). Non-gaap net loss laden the impact of equity incentive costs. For more information, please refer to the statement of the “non-US General Accounting Standards” in English.
Each share of US Form (ADS) Net Loss
In the first quarter of 2021, the company’s basic and diluted US deposit payment (ADS) net loss is RMB 1.84 (US $ 0.28). In the first quarter of 2021, the company NON-GAAP basic and diluted ADS net losses were RMB 1.70 ($ 0.26). ADS is equivalent to two common ordinary stocks per share.
Assets (123)
As of March 31, 202, the company totaled RMB 1.631 billion (249 million US dollars). As of December 31, 2020, the company totaled 1427 million yuan in cash and cash equivalents.
As of March 31, 2021, the company held a total investment of RMB 2628 million ($ 401 million), which decreased by 4.342 billion yuan as of December 31, 2020, mainly due to the company Partial disposal and fair value of ideal car investment.
Performance Expected
The company expects total revenue in the second quarter of RMB 950 million and RMB 950 million in 2021. This guide only represents the company’s current and preliminary expectations of market and operating conditions, the future may change in the future.
The company’s investment fair value changes in the Ideal Auto (Li Auto “) and the ideal car share price fluctuations may have a significant impact on the company’s second quarter of 20021.
Financial Report Call Information
Canal 2021, the first quarter of the financial performance report consultation conference, will be 9 o’clock on March 31, 2021, 2021, 2021 Beijing Time Tuesday, June 1st, 6:00 am. The number listening to the phone is as follows:
International:
+ 1-412-902-4272
US free telephone:
+ 1-888-346-8982
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4001-201-203
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