fbpx

TuanChe Limited. - Tmall-Auto Strategic Partnership To Explore New Business Model & Growth Opportunity

NEW YORK, Nov. 26, 2019 /PRNewswire/ -- Stone Street Group has announced it has published 2019 Q3 earnings update note on TuanChe Limited. (Nasdaq: TC).

The full report can be found here: TuanChe 2019 Q3 Update Report

Key Report Highlights:

TuanChe's net revenues from the first 9 months of 2019 grew by 8.8% YoY, remaining outperformed the overall industry where September marked the 15th consecutive month of a year-over-year decline in industry-wide passenger car sales in China. Gross profit also showed a YoY growth of 7.2% over a margin of ~70.6%.

Taking into consideration of the ongoing macroeconomic headwinds facing the auto industry, as well as heightened emission regulations, TuanChe management expects the company's net revenues to range from approximately RMB190 million to RMB200 million, representing an approximate YoY decrease of 16.1% to 11.7% in 4Q-2019, reflective of TuanChe's view on current business operating and market condition.

TuanChe signed a strategic partnership with Tmall Auto in Oct. 2019, where Tmall Auto is the automotive arm of Alibaba Group's (NYSE: BABA) B2C platform Tmall, the largest eCommerce platform in China.

This partnership is expected to enable both TuanChe and Tmall Auto to collaborate and further explore additional growth opportunities throughout China's automotive value chain, where Tmall Auto will work with TuanChe to integrate its online resources, e-commerce infrastructure, and big data analysis capabilities with TuanChe's extensive national footprint and proven track record in managing both offline automotive operations and sales events. Both companies plan to jointly integrate a new data-driven, smart, online-to-offline automotive transaction service platform, while further expand each other's customer bases and enhance the car-purchasing experience for consumers.

About Stone Street Group:

Stone Street Group LLC ("Stone Street") is a leading global research and publications firm that focuses on small and mid-cap stocks. We offer small and mid-cap research and create exposure for clients through extensive digital distribution. We are headquartered in New York and maintain offices in major financial centers around the world. Stone Street received a flat fee from or on behalf of the company discussed in this report for the creation and dissemination of the report.

Cision View original content:http://www.prnewswire.com/news-releases/tuanche-limited---tmall-auto-strategic-partnership-to-explore-new-business-model--growth-opportunity-300965406.html

Copyright

© PR Newswire

US open – Trade, Alibaba, bitcoin, gold, oil
Bluevisor wins Oracle Innovation Challenge
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Monday, 03 October 2022
 
     
 

Latest Spot Rate

 
26 November 2019
US open - Trade, Alibaba, bitcoin, gold, oil - MarketPulseMarketPulseHome/Commodities/Crypto/FX/Indices/Market PulseShare 0Quiet Thanksgiving week For Wall StreetIt’s been a flat day in Europe so far and a look at US futures suggest the day on Wall ...
26 November 2019
European open - Trade talks, Alibaba, gold, oil - MarketPulseMarketPulseHome/Commodities/Indices/Market PulseShare 0Trade War Obsession ContinuesA mixed start to trading on Tuesday, with European stocks treading water as discussions continue between...
26 November 2019
Business Breakfast with OANDA on Jazz FM - MarketPulseMarketPulseHome/Indices/Market Pulse/MediaShare 0On this morning’s show, OANDA Senior Market Analyst Craig Erlam joins Michael Wilson to discuss the various UK manifestos, Uber, Alibaba’s flotati...
26 November 2019
 Hopes that the US-China Phase 1 trade deal will be concluded soon has lifted risk appetite, pressured safe haven assets and boosted crude oil. The agricultural sector is mixed but remains supported. Precious metalsGOLD has fallen for the past five s...
26 November 2019
Daily Markets Broadcast 2019-11-26 - MarketPulseMarketPulseHome/Daily Markets Broadcast/DAX/Indices/Market Pulse/Technical Analysis/Technical Analysis IndicesShare 0Daily Markets Broadcast2019-11-26Wall Street gains as trade hopes build...
How It Works | About | Contact | Privacy Policy | Forex Marketing
© 2009 - 2019 Forex Forum. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.