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BEIJING, May 11, 2022 /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, 2021. Fourth Quarter 2021 Financial Highlights Net revenues were RMB303.0 million (US$47.5 million), representing an increase of 8.7% from the fourth quarter of 2020. Net loss was RMB1,697.6 million (US$266.4 million), compared with RMB149.1 million in the fourth quarter of 2020. Adjusted net loss[1], which excluded share-based compensation expense, impairment loss on long-lived assets and long-term prepaid expenses, impairment loss on goodwill, change in fair value of warrant liability, impairment loss on long-term investments, and loss on disposal of subsidiaries, was RMB156.0 million (US$24.5 million), as compared to an adjusted net income of RMB62.8 million in the fourth quarter of 2020. EBITDA loss[2] was RMB1,673.8 million (US$262.7 million), compared with RMB94.8 million in the fourth quarter of 2020. Adjusted EBITDA loss[3] was RMB80.9 million (US$12.7 million), compared with RMB9.4 million in the fourth quarter of 2020. Fourth Quarter 2021 Operating Highlights As of December 31, 2021, Ucommune had committed to 273 office spaces in 65 cities, including 106 office spaces in tier-1 cities, 63 office spaces in new tier-1 cities and 104 office spaces in cities tier-2 and below, and was providing approximately 865,150 square meters of managed area to 1,177,000 members. Among those, 220 office spaces, or 80.6% of total committed spaces, were in operation. As of December 31, 2021, Ucommune's total number of spaces contracted under the Company's asset-light model increased by 32% to 165 spaces located across 55 cities from 125 spaces located across 46 cities as of December 31, 2020. The Company's total managed area under contract[4] for the asset-light model increased by 77% to 622,815 square meters from 351,500 square meters as of December 31, 2020. [1] For a reconciliation of net loss to adjusted net loss, see the "Non-GAAP Financial Measures" section and the table captioned "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [2] For a reconciliation of net loss to EBITDA, see the "Non-GAAP Financial Measures" section and the table titled "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [3] For a reconciliation of net loss to adjusted EBITDA, see the "Non-GAAP Financial Measures" section and the table titled "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [4] Spaces and managed area under contract include those in operation, under construction, and in preparation for construction. Dr. Daqing Mao, Founder and Chairman of Ucommune, commented, "As the real estate industry matures and the macro environment becomes increasingly supportive of the real estate investment cycle, operation and management of industrial parks has become a fundamental factor contributing to value growth in the real estate industry. While continuing to drive growth in our agile workspace management business, we also plan to exercise greater prudence in managing our costs going forward so that we can shorten our path to profitability." Ms. Xin Guan, Chief Executive Officer of Ucommune, commented, "During 2021, we established a new precedent in industrial park projects by adding value to our partners' assets while boosting the economic development of an ever-greater number of parks. Leveraging our operational capabilities and our asset-light business model, we provided full services along the industry park value chain including planning, positioning, content creation, incubation, advertising, and operations. The effectiveness of our asset-light model is illustrated by our continued cooperation with a number of partners to develop asset-light projects and further expand our closed loop ecology. Furthermore, 2021 marked our initial entry into the international market. During the year, building on the foundation of our asset-light model, we expanded our offerings in the consumer services sector and provided additional marketing and advertising solutions to our clients. At the same time, we further developed our cutting-edge real estate digital management system, delivering ever more value to its users. Going forward, we will continue to explore our asset-light model, optimize and further develop our comprehensive service platform, enhance our operational efficiency, and cultivate our healthy business expansion." Mr. Siyuan Wang, Chief Financial Officer of Ucommune, added, "In the fourth quarter, our revenues exceeded the high-end of our previously announced guidance range, increasing by 8.7% to RMB303.0 million (US$47.5 million). In addition, we further diversified our financing sources as we recently entered into a securities purchase agreement to issue a debenture and warrants to an investor in a private placement. During the quarter, we increased our workspace membership services revenues and marketing and branding services revenues by 21.7% and 13.2% respectively. We continued to grow our asset-light business, as the total number of spaces contracted under our asset-light model increased by 32% and our asset-light total managed area under contract increased by 77% during 2021. We are well-positioned to grow in a healthy manner for the long run." Fourth Quarter 2021 Financial Results Total net revenues increased by 8.7% to RMB303.0 million (US$47.5 million) in the fourth quarter of 2021 from RMB278.7 million in the fourth quarter of 2020. Revenues from the asset-light model increased by 78.7% to RMB19.3 million (US$3.0 million) in the fourth quarter of 2021 from RMB10.8 million in the fourth quarter of 2020. Workspace membership services revenues increased by 21.7% to RMB93.5 million (US$14.7 million) in the fourth quarter of 2021 from RMB76.8 million in the fourth quarter of 2020. This increase mainly resulted from the Company's expansion of its U partner model, a category under the Company's asset-light model, of which the revenue is recognized as workspace membership revenue. Marketing and branding services revenues increased by 13.2% to RMB124.7 million (US$19.6 million) in the fourth quarter of 2021 from RMB110.1 million in the fourth quarter of 2020, mainly due to increased demand for advertising and marketing services from certain customers. Other services revenues decreased by 7.6% to RMB84.8 million (US$13.3 million) in the fourth quarter of 2021 from RMB91.7 million in the fourth quarter of 2020, mainly due to decreased net revenues from the Company's SaaS services, partially offset by the increased net revenues from the Company's interior design and construction services and net revenues related to the acquisition of "Xiao Sushi." Total costs of revenues increased by 16.0% to RMB330.8 million (US$51.9 million) in the fourth quarter of 2021 from RMB285.2 million in the fourth quarter of 2020.Costs of revenues from the Company's asset-light model increased by 208.8% to RMB17.6 million (US$2.8 million) in the fourth quarter of 2021 from RMB5.7 million in the fourth quarter of 2020, which was primarily in line with the increase in revenues from the Company's asset-light model. Costs of workspace membership increased by 21.5% to RMB134.3 million (US$21.1 million) in the fourth quarter of 2021 from RMB110.6 million in the fourth quarter of 2020, which was mainly due to more U Partner projects opened during the fourth quarter of 2021 and in line with the increase in workspace membership services revenue. Costs of marketing and branding services increased by 11.5% to RMB121.3 million (US$19.0 million) in the fourth quarter of 2021 from RMB108.8 million in the fourth quarter of 2020, mainly due to increased advertising spending, which was in line with the increase in advertising revenue. Costs of other services increased by 14.2% to RMB75.2 million (US$11.8 million) in the fourth quarter of 2021 from RMB65.9 million in the fourth quarter of 2020, mainly due to increased construction and design service cost and software and hardware purchase cost spending by the Company's construction services and SaaS services, respectively. Impairment loss on goodwill was RMB1.5 billion (US$236.1 million) in the fourth quarter of 2021, compared to nil in the four quarter of 2020, representing the amount by which the carrying value of all the three reporting units exceeds their fair value, based on an annual goodwill impairment assessment. General and administrative expenses decreased by 70.5% to RMB68.8 million (US$10.8 million) in the fourth quarter of 2021 from RMB233.0 million in the fourth quarter of 2020, mainly due to a decrease in share-based compensation expense of RMB190.1 million (US$29.8 million) in the fourth quarter of 2021, partially offset by an increase in professional service fees. Sales and marketing expenses decreased by 34.7% to RMB15.8 million (US$2.5 million) in the fourth quarter of 2021 from RMB24.2 million in the fourth quarter of 2020, mainly due to the decrease in share-based compensation expense in the fourth quarter of 2021. Impairment loss on long-lived assets and long-term prepaid expenses was RMB30.6 million (US$4.8 million) in the fourth quarter of 2021, compared with RMB3.0 million in the fourth quarter of 2020, primarily due to the increase in impairment costs for spaces where the carrying value is not expected to be fully recoverable. Other expense, net was RMB51.3 million (US$8.1 million) in the fourth quarter of 2021, compared to other income, net of RMB126.5 million in the fourth quarter of 2020, primarily due to the penalty resulting from breach of service agreement and estimated contingent loss from legal proceedings in the fourth quarter of 2021. Net loss was RMB1,697.6 million (US$266.4 million) in the fourth quarter of 2021, compared with RMB149.1 million in the fourth quarter of 2020. Adjusted net loss[5] was RMB156.0 million (US$24.5 million) in the fourth quarter of 2021, compared with adjusted net income of RMB62.8 million in the fourth quarter of 2020. EBITDA loss[6] was RMB1,673.8 million (US$262.7 million) in the fourth quarter of 2021, compared with RMB94.8 million in the fourth quarter of 2020. Adjusted EBITDA loss[7] increased by 763.9% to RMB80.9 million (US$12.7 million) in the fourth quarter of 2021 from RMB9.4 million in the fourth quarter. Basic and diluted net loss per share were both RMB354.27 (US$55.59) in the fourth quarter of 2021, compared with RMB44.58 in the fourth quarter of 2020 (retroactively adjusted to reflect the 20-to-1 Share Consolidation (as defined below) effected on April 21, 2022). Basic and diluted adjusted net loss per share[8] were both RMB32.6 (US$5.12) in the fourth quarter of 2021, compared with basic and diluted adjusted net income per share RMB20.49 in the fourth quarter of 2020 (retroactively adjusted to reflect the Share Consolidation). Cash, cash equivalents and restricted cash were RMB216.5 million (US$34.0 million) as of December 31, 2021, compared with RMB400.8 million as of December 31, 2020. [5] For a reconciliation of net loss to adjusted net loss, see the "Non-GAAP Financial Measures" section and the table captioned "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [6] For a reconciliation of net loss to EBITDA, see the "Non-GAAP Financial Measures" section and the table titled "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [7] For a reconciliation of net loss to adjusted EBITDA, see the "Non-GAAP Financial Measures" section and the table titled "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. [8] For a reconciliation of net loss to adjusted net income, see the "Non-GAAP Financial Measures" section and the table captioned " Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" below. Business Outlook For the first quarter of 2022, the Company expects net revenues to be in the range of RMB130 million to RMB150 million. The forecasts reflect the Company's current and preliminary views on the market and its operating conditions, which are subject to change. Recent Developments On January 26, 2022, the Company entered into and closed a private placement pursuant to a securities purchase agreement (the "Securities Purchase Agreement"), as amended on March 1, 2022, with an investor for the offering of a certain debenture and warrants. The Company intends to use the proceeds for working capital purposes. On February 8, 2022, Dr. Mei Han resigned as an independent director of the Company with immediate effect due to personal reasons. In connection with her resignation, Dr. Han also stepped down as a member of the audit committee and compensation committee of the board of directors of the Company. Dr. Han's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. On March 15, 2022, the Company announced that it would seek shareholder approval for a 20-for-1 reverse stock split at its upcoming extraordinary general meeting held on April 21, 2022 (the "Share Consolidation"). At the extraordinary general meeting, the reverse stock split was approved on April 21. As a result, the Share Consolidation became effective at 5 P.M. on April 21, 2022, U.S. Eastern time, and the Class A ordinary shares began trading on a post-Share Consolidation basis on the Nasdaq Capital Market when the market opened on the next business trading day under the same symbol "UK" but under a new CUSIP number of G9449A 209. Each 20 pre-split ordinary shares outstanding automatically combined and converted to one issued and outstanding ordinary share without any action on the part of the shareholders, and the terms of the outstanding warrants, unit purchase options, senior convertible debentures and awards under share incentive plans of the Company were adjusted automatically without any action on the part of the holders of those warrants, unit purchase options, senior convertible debentures and awards under share incentive plans. On May 6, 2022, the Company received written notification from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") that it has regained compliance with the minimum bid price requirement of US$1.00 per share under the Nasdaq Listing Rules (the "Listing Rules"). Previously on January 24, 2022, Nasdaq notified the Company that its Class A ordinary shares had failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules. On May 6, 2022, Nasdaq confirmed that for the last 10 consecutive business days, from April 22, 2022 to May 5, 2022, the closing bid price of the Company's Class A ordinary shares was at US$1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed. About Ucommune International Ltd. Ucommune is China's leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune's various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.3726 to US$1.00, the exchange rate on December 31, 2021, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be at any particular rate or at all. Statement Regarding Preliminary Unaudited Financial Information The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company's year-end audit, which could result in significant differences from this preliminary unaudited financial information. Safe Harbor Statements This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases, and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to understand members' needs and provide products and services to attract and retain members; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with members and business partners; trends and competition in China's agile office space market; changes in its revenues and certain cost or expense items; the expected growth of China's agile office space market; PRC governmental policies and regulations relating to the Company's business and industry, and general economic and business conditions in China and globally and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Non-GAAP Financial Measures To supplement the Company's condensed and consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Ucommune uses the following non-GAAP financial measures for Ucommune's condensed and consolidated results: EBITDA, adjusted EBITDA and adjusted net loss. The Company believes that EBITDA, adjusted EBITDA and adjusted net loss help understand and evaluate the Company's core operating performance. EBITDA, adjusted EBITDA and adjusted net loss are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to its most directly comparable GAAP financial measures. As EBITDA, adjusted EBITDA and adjusted net loss have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider EBITDA, adjusted EBITDA and adjusted net loss as substitutes for, or superior to, net loss prepared in accordance with GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure. For more information on these non-GAAP financial measures, please see the table captioned "Ucommune International Ltd. Reconciliation of GAAP and Non-GAAP Results" near the end of this release. EBITDA represents net loss before interest expense, net, provision for income taxes, depreciation of property and equipment and amortization of intangible assets. Adjusted EBITDA represents net loss before (i) interest expense, net, other (expense)/income, net, provision for income taxes and loss on disposal of subsidiaries and (ii) certain non-cash expenses, consisting of share-based compensation expense, impairment loss on long-lived assets and long-term prepaid expenses, impairment loss on goodwill, impairment loss on long-term investments, depreciation of property and equipment, amortization of intangible assets and change in fair value of warrant liability, which we do not believe are reflective of the Company's core operating performance during the periods presented. Adjusted net loss represents net loss before share-based compensation expense, impairment loss on long-lived assets and long-term prepaid expenses, impairment loss on goodwill, impairment loss on long-term investments, change in fair value of warrant liability and loss on disposal of subsidiaries. For investor and media inquiries, please contact: Ucommune International Ltd.ir@ucommune.com ICR, LLC.Robin Yangucommune@icrinc.com +1 (212) 537-3847 FINANCIAL STATEMENTS UCOMMUNE INTERNATIONAL LTD. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and USD, except for number of shares) As of December 31, 2020 As of December 31, 2021 RMB RMB USD ASSETS Current assets: Cash and cash equivalents 348,064 165,792 26,016 Restricted cash 52,199 50,703 7,956 Term deposits 47,710 - - Short-term investments 5,900 26,423 4,146 Accounts receivable, net 125,359 132,264 20,755 Prepaid expenses and other current assets, net 163,401 147,676 23,173 Amounts due from related parties, current 24,504 54,715 8,586 Total current assets 767,137 577,573 90,632 Non-current assets: Restricted cash 527 - - Long-term investments 9,051 22,231 3,489 Property and equipment, net 350,980 231,795 36,374 Right-of-use assets, net 879,348 678,769 106,514 Intangible assets, net 28,420 16,639 2,611 Goodwill 1,533,485 43,011 6,749 Rental deposit 61,170 35,920 5,637 Long-term prepaid expenses 113,271 72,135 11,320 Amounts due from related parties, non-current 297 498 78 Other assets, non-current 194,444 194,444 30,512 Total non-current assets 3,170,993 1,295,442 203,284 TOTAL ASSETS 3,938,130 1,873,015 293,916 UCOMMUNE INTERNATIONAL LTD. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - continued (Amounts in thousands of RMB and USD, except for number of shares) As of December 31, 2020 As of December 31, 2021 RMB RMB USD LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings 49,457 47,774 7,497 Long-term borrowings, current portion 3,618 15,137 2,375 Note payable 12,105 - - Accounts payable 272,299 263,218 41,305 Accrued expenses and other current liabilities 263,997 294,382 46,196 Amounts due to related parties, current 92,737 34,660 5,440 Deferred workspace membership fee 53,667 52,131 8,180 Contract liabilities 14,833 23,913 3,752 Income taxes payable 1,366 4,436 696 Deferred subsidy income 9,562 8,108 1,272 Share-based liabilities, current - 2,571 403 Lease liabilities, current 365,049 285,200 44,754 Total current liabilities 1,138,690 1,031,530 161,870 Non-current liabilities: Long-term borrowings 15,242 646 101 Refundable deposits from members, non-current 16,477 21,766 3,416 Deferred tax liabilities 1,543 362 57 Lease liabilities, non-current 580,562 428,486 67,239 Warrant liabilities - 11,211 1,759 Share-based liabilities, non-current - 1,303 204 Total non-current liabilities 613,824 463,774 72,776 TOTAL LIABILITIES 1,752,514 1,495,304 234,646 SHAREHOLDERS' EQUITY Class A ordinary shares (20,000,000 and 20,000,000 authorized, 3,549,969 and 3,896,916 issued and outstanding as of December 31, 2020 and December 31, 2021, with par value of US$0.002 and US$0.002, respectively(i)) 49 54 8 Class B ordinary shares (5,000,000 and 5,000,000 authorized, 472,622 and 472,622 issued and outstanding as of December 31, 2020 and December 31, 2021, with par value of US$0.002 and US$0.002, respectively(i)) 6 6 1 Additional paid-in capital 4,230,656 4,566,956 716,655 Statutory reserves 5,065 6,051 950 Accumulated deficit (2,240,205) (4,237,604) (664,973) Accumulated other comprehensive income 4,742 1,091 171 Total Ucommune International Ltd. shareholders' equity 2,000,313 336,554 52,812 Noncontrolling interests 185,303 41,157 6,458 TOTAL EQUITY 2,185,616 377,711 59,270 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 3,938,130 1,873,015 293,916 (i) The ordinary shares are presented on a retroactive basis to reflect the Company's Share Consolidation effected on April 21, 2022. UCOMMUNE INTERNATIONAL LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of RMB and USD, except for number of shares and per share data) For the Three Months Ended December 31, For the Twelve Months Ended December 31, 2020 2021 2021 2020 2021 2021 RMB RMB USD RMB RMB USD Revenue: Workspace membership revenue 76,822 93,523 14,676 422,984 376,642 59,103 Marketing and branding service revenue 110,104 124,663 19,562 317,461 463,475 72,729 Other service revenue 91,735 84,795 13,306 136,692 217,391 34,113 Total revenue 278,661 302,981 47,544 877,137 1,057,508 165,945 Cost of revenue: Workspace membership (110,576) (134,343) (21,081) (557,102) (508,121) (79,735) Marketing and branding service (108,816) (121,294) (19,034) (297,893) (444,717) (69,786) Other services (65,852) (75,202) (11,801) (113,074) (181,222) (28,438) Total cost of revenue (285,244) (330,839) (51,916) (968,069) (1,134,060) (177,959) Operating expenses: Impairment loss on long-lived assets and long-term prepaid expenses (3,048) (30,596) (4,801) (36,505) (114,485) (17,965) Impairment loss on goodwill - (1,504,525) (236,093) - (1,504,525) (236,093) Sales and marketing expenses (24,208) (15,807) (2,480) (47,061) (61,670) (9,677) General and administrative expenses (232,982) (68,836) (10,802) (320,202) (376,417) (59,068) Change in fair value of warrant liability - 4,936 775 - 6,837 1,073 Loss from operations (266,821) (1,642,686) (257,773) (494,700) (2,126,812) (333,744) Interest expense, net (2,134) (1,209) (190) (12,863) (3,262) (512) Subsidy income 1,225 2,741 430 13,931 7,352 1,154 Impairment loss on long-term investments (6,553) (910) (143) (10,060) (1,371) (215) Gain on disposal of long-term investments - - - 8,561 - - Loss on disposal of subsidiaries - (1,199) (188) (39,703) (14,978) (2,350) Other (expense)/income, net 126,459 (51,315) (8,052) 30,393 (19,260) (3,022) Loss before income taxes and loss from equity method investments (147,824) (1,694,578) (265,916) (504,441) (2,158,331) (338,689) Provision for income taxes (534) (3,031) (476) (2,864) (4,479) (703) Loss from equity method investments (783) - - (639) (27) (4) Net loss (149,141) (1,697,609) (266,392) (507,944) (2,162,837) (339,396) Less: Net loss attributable to noncontrolling interests (3,955) (169,633) (26,619) (19,452) (166,424) (26,116) Net loss attributable to Ucommune International Ltd. (145,186) (1,527,976) (239,773) (488,492) (1,996,413) (313,280) Net loss per share attributable to ordinary shareholders of Ucommune International Ltd. - Basic and diluted(i) (44.58) (354.27) (55.59) (149.98) (462.88) (72.64) Weighted average shares used in calculating net loss per share - Basic and diluted(i) 3,257,088 4,313,064 4,313,064 3,257,088 4,313,064 4,313,064 (i) The ordinary shares are presented on a retroactive basis to reflect the Company's Share Consolidation effected on April 21, 2022. UCOMMUNE INTERNATIONAL LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Amounts in thousands of RMB and USD, except for number of shares and per share data) For the Three Months Ended December 31, For the Twelve Months Ended December 31, 2020 2021 2021 2020 2021 2021 RMB RMB USD RMB RMB USD Net loss (149,141) (1,697,609) (266,392) (507,944) (2,162,837) (339,396) Other comprehensive loss, net of tax Foreign currency translation adjustments 4,729 (3,260) (512) 5,768 (3,651) (573) Total Comprehensive loss (144,412) (1,700,869) (266,904) (502,176) (2,166,488) (339,969) Less: Comprehensive loss attributable to noncontrolling interest (3,856) (169,633) (26,619) (19,352) (166,424) (26,116) Comprehensive loss attributable to Ucommune International Ltd.'s shareholders (140,556) (1,531,236) (240,285) (482,824) (2,000,064) (313,853) UCOMMUNE INTERNATIONAL LTD. RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and USD, except for number of shares and per share data) The following table sets forth a reconciliation of net loss to EBITDA and adjusted EBITDA for the periods indicated: For the Three MonthsEnded December 31, For the Twelve Months Ended December 31, 2020 2021 2021 2020 2021 2021 RMB RMB USD RMB RMB USD Net loss (149,141) (1,697,609) (266,392) (507,944) (2,162,837) (339,396) Interest expense, net 2,134 1,209 190 12,863 3,262 512 Provision for income taxes 534 3,031 476 2,864 4,479 703 Depreciation of property and equipment and amortization of intangible assets 51,639 19,573 3,071 87,555 81,851 12,844 EBITDA (non-GAAP) (94,834) (1,673,796) (262,655) (404,662) (2,073,245) (325,337) Share-based compensation expense 202,333 9,333 1,465 202,333 249,317 39,123 Impairment loss on long-lived assets and long-term prepaid expenses 3,048 30,596 4,801 36,505 114,485 17,965 Impairment loss on goodwill - 1,504,525 236,093 - 1,504,525 236,093 Change in fair value of warrant liability - (4,936) (775) - (6,837) (1,073) Impairment loss on long-term investments 6,553 910 143 10,060 1,371 215 Loss on disposal of subsidiaries - 1,199 188 39,703 14,978 2,350 Other expense/(income), net (126,459) 51,315 8,052 (30,393) 19,260 3,022 Adjusted EBITDA (non-GAAP) (9,359) (80,854) (12,688) (146,454) (176,146) (27,642) The table below sets forth a reconciliation of net loss to adjusted net loss for the periods indicated: For the Three Months Ended December 31, For the Twelve Months Ended December 31, 2020 2021 2021 2020 2021 2021 RMB RMB USD RMB RMB USD Net loss (149,141) (1,697,609) (266,392) (507,944) (2,162,837) (339,396) Share-based compensation expense 202,333 9,333 1,465 202,333 249,317 39,123 Impairment loss on long-lived assets and long-term prepaid expenses 3,048 30,596 4,801 36,505 114,485 17,965 Impairment loss on goodwill - 1,504,525 236,093 - 1,504,525 236,093 Change in fair value of warrant liability - (4,936) (775) - (6,837) (1,073) Impairment loss on long-term investments 6,553 910 143 10,060 1,371 215 Loss on disposal of subsidiaries - 1,199 188 39,703 14,978 2,350 Adjusted net loss (non-GAAP) 62,793 (155,982) (24,477) (219,343) (284,998) (44,723)
Naetion, a Denmark-based web3 startup building the world's largest on-chain career network, announced today that it has secured an investment totaling $150M from GEM Digital Limited, a digital asset investment firm. COPENHAGEN, Denmark, May 10, 2022 (GLOBE NEWSWIRE) -- Work, and the culture around it, has found new expression in web3 through art, gamification, exclusive communities, and events. Naetion, billed as the "New World of Work," operates at the intersection of consumer and crypto, unlocking access to the emerging web3 market for the mainstream user. Naetion CEO Alexander Rindom-Andersen believes that when it comes to the blockchain's impact on work, the possibilities are infinite - no matter your profession. "GEM Digital's investment will help Naetion bring very tangible influence to this sector, enabling the growth of our cutting-edge products, native token $NTN, as well as utility NFTs," said Rindom-Andersen. The Naetion products include HAELP, a decentralized, retail-first network of service providers, creators, and talent which allows its members to easily show, sell, and manage their skills - while retaining 100% of their earnings; Paeyroll, which streamlines human resources for web3 startups with global compliance built-in, converting payroll into revenue and managing the processes of hiring, onboarding, benefits, and expenses; and Monaey, a neobank for everything banking, rewards, staking, and yield savings, inclusive of a credit card to access your Naetion earnings. "After spending 15-years as an IT entrepreneur, I know that blockchain is the most important thing to happen to the internet since the iPhone - it will change the way we interact with and use digital worlds," said Buddhika Perera, Naetion CTO and Co-Founder. "In order for this technology to reach its full potential, it must be put to use. Naetion is making web3 accessible and useful not for industry insiders, but for genuine people in the real world." "It's an inspiring step forward," continued Rindom-Andersen. "We're excited to continue constructing and pioneering our collective New World of Work with the partnership between Naetion and GEM." ABOUT NAETION Naetion is a web3 startup based in Denmark that is working to create the world's largest on-chain professional network. Naetion operates at the crossroads of consumer and crypto, allowing the general public to participate in the emerging web3 industry. Invest, join, or try Naetion's products. ABOUT GEM DIGITAL GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, we actively source, structure, and invest in utility tokens listed on over 30 CEXs and DEXs globally. GEM (Global Emerging Markets) is a $3.4 billion alternative investment firm with offices in Paris, New York, and the Bahamas. GEM oversees a wide range of developing market investment vehicles and has executed over 525 transactions in 75 countries. The degree of operational control, risk-adjusted return, and liquidity profile of each investment vehicle varies. GEM and its partners have access to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments through the family of funds and investment vehicles. Contact: Alexander Rindom-Andersen (Naetion), Co-founder & CEO: alexander@hjaelp.io Jean-Luc Bonnefoy (GEM): jbonnefoy@gemny.com Related Images Image 1: Naetion roadmap This content was issued through the press release distribution service at Newswire.com.
TAIPEI, TAIWAN - Media OutReach - 9 May 2022 - Highlights and achievements for the first quarter of 2022 Revenue grew by 53% year-over-year (YoY) to a historical high of 4.2 billion yen, growth rate reaching a three-year high Gross profit significantly grew by 60% YoY with an improved gross margin of 50% Operating profit turned positive since it entered the scaling phase of the business EBITDA margin achieved 6.2% with a record high EBITDA profit of 262 million yen Operating margin improved by 20 percentage points YoY and EBITDA margin improved by 10 percentage points YoY Continuous substantial growth from the US market with YoY revenue increasing over 14X, QoQ revenue increasing over 180% and reaching to 9% of total revenue Achieved 32% YoY growth in customer numbers with the lowest churn rate in the company history of 0.67% Stellar growth momentum closed out Q1 FY22 Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its earnings results for the first quarter of fiscal year 2022. This quarter, Appier's continuously improved sales productivity, increased product synergy for a higher cross-sell rate and strong customer traction in the US helped its revenue grow by 53% YoY to a historical high of 4.2 billion yen. Operating profit turned positive, Appier's first record of profitability since it entered the scaling phase of the business. Reflecting the acceleration of revenue growth, its Annual Recurring Revenue (ARR) climbed 49% YoY to a record high of 15.8 billion yen, and gross profit growth rate has outpaced top-line growth and reached 60% YoY with an improved gross margin of 50%. Appier's AI technology is a key factor in the strong business expansion as the market turns to AI solutions to address current data privacy concerns and trends. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose 6.2% to 262 million yen, a record high EBITDA profit with a 10 percentage points YoY improvement, while operating margin improved by 20 percentage points YoY. Appier is growing alongside its customers. A historical high uplift of the Net Revenue Retention (NRR) at 126.5% places Appier in a strong position entering 2022. The number of customers grew by 281 to 1,158 with 32% YoY growth, a record level of organic incremental increase of customers with the lowest churn rate of 0.67%. New customers were mainly from the e-commerce and consumer brands & BFSI[1] industries (31% and 23% of total new customers, respectively), driven by post-COVID demand for digital transformation. Customers in Northeast Asia continued to account for the largest share of global revenue at 63%, followed by Greater China (23%), US and EMEA (10%) and Southeast Asia (4%). The US market growth further accelerated to over 180% QoQ in FY22 Q1, marking an over 14X YoY revenue increase and accounting for 9% of total revenue. The trend towards prioritizing first-party data and a strong understanding of Appier's core competencies in AI technology for such marketing purposes have generated strong customer traction and higher Average Revenue per Customer (ARPC) in the US. Appier's strong product portfolios and cross-platform network effects led its top-line and bottom-line to surpass projections, demonstrating the company's substantial growth and outperforming track record. The company's full-year forecast has been revised to reflect our outperformance this quarter. Revenue has been revised to 17.8 billion yen with 41% YoY growth rate. Gross profit has outpaced top-line growth to 9.2 billion yen with 48% YoY growth rate. Operating loss has been revised to 288 million yen with significant improvement compared to our initial forecast and getting closer to breaking even, and full-year positive EBITDA profit has been revised to 0.8 billion yen with a 1,799% YoY growth rate. Appier's expansion in the US market, higher sales productivity and better product synergy are key drivers for this guidance revision in 2022. "We are extremely proud of our achievements starting from Q1 2022, especially with the operating profit turning positive for the first time since Appier invested for growth. Our strong growth momentum enabled us to continuously improve our profit margin and eventually lead to a profitable quarter, underscoring how AI-powered marketing technologies and first-party data-centric solutions continue to lead the digital transformation with the industry tailwind. In the meantime, our international expansion strategy has allowed us to turn our initial investment into fruitful results," said Dr. Chih-Han Yu, Appier's CEO and co-founder. "Looking ahead, we will preserve a high-performance culture to maintain efficient sales productivity. Our customer-oriented mindset and focus on products' key differentiators that move the needle will also accelerate our pace on product innovations and support Appier to stand out in the market," he further elaborated. Appier also announced its comprehensive collaboration with PXMart, the largest supermarket chain in Taiwan, with products including AIQUA, AIXON and BotBonnie. Leveraging its AI technologies to unify and enrich PX Mart's data assets across multiple platforms, including PX Mart (company website), PX Pay (mobile payment), PXGo! (online store) and POS (offline data) to deliver personalized customer experience and optimize its operational efficiency. Comprehensive capabilities for long-term growth Appier's AI-empowered engine combines algorithm processing capabilities, fundamental Auto-Machine Learning models, first-party data solutions and cross-product synergies, allowing us to uncover new customers and boost existing customer revenue expansion. As AI algorithms can learn and become more precise, higher usage drives better adherence to the model and enables a more personalized experience and more accurate predictions. First-party data solutions across web and apps and increasing product synergies also guarantee Appier's ability to move fast to seize market opportunities and make swift progress on product iteration. [1] Banking, financial services and insurance (BFSI) is the industry's umbrella term for companies that provide a range of such financial products or services. About AppierAppier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier now has 17 offices across APAC, Europe and US, and is listed on the Tokyo Stock Exchange. Visit www.appier.com for more company information and visit ir.appier.com/en/ for more IR information. #AppierThe issuer is solely responsible for the content of this announcement.
喬治亞洲卡爾霍恩, May 01, 2022 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) 今天宣佈 2022 年第一季度的淨盈利為 2.45 億美元，攤薄後每股盈利（EPS）為 3.78 美元。調整後淨盈利為 2.46 億美元，調整後每股盈利為 3.78 美元，不包括調整、收購及其他費用。2020 年第一季度的淨銷售額為 30 億美元，按報告季度上升 13.0 %，而按固定貨幣和天數計算為 17.3%。2021 年第一季度淨銷售額為 27 億美元，淨收益為 2.37 億美元，每股盈利為 3.36 美元。調整後淨盈利為 2.46 億美元，調整後每股盈利為 3.49 美元，不包括調整、收購及其他費用。 主席兼行政總裁 Jeffrey S. Lorberbaum 在評論 Mohawk Industrial 的第一季度業績時指出：「Mohawk 的業績超出了預期，因為第一季度銷售額上升至歷史新高，反映出更高的定價、我們的陶瓷業務增長、商業部門有所改善，以及我們從小規模收購中受益。營業收入超出了我們的預期，原因是我們全球陶瓷業務的實力抵消了歐洲不斷上升的能源成本，改善了的營運策略提高了北美地板的業績，以及我們對歐洲市場壓力的管理在世界其他地方令地板市場受益。」 在本季度，我們在大多數市場中以高水平營運，以解決訂單的積壓和庫存補充。在過去一年，快速的成本上升需要多項定價行動才能抵消通貨膨脹。隨著通貨膨脹持續增加，我們在各個市場中實施了前所未有的增加，並宣佈在整個業務上取得額外增長。我們還在控制銷售、一般與行政開支、提高營運效率及引入創新的新產品功能。在某些市場，我們在本季度的增長受到庫存和生產限制的規限。我們現正執行多個擴展項目，以滿足對高增長產品的需求、打造全新的創新並提高營運效率。我們正在擴展的類別包括美國層壓板、LVT (頂級塑膠地板) 及石英檯面、歐洲層壓板、高端陶瓷板和特殊陶瓷產品，以及在巴西和墨西哥的瓷磚。我們最近在歐洲的補強收購正在加強我們不斷增長的絕緣和面板業務。我們的產品銷售保持強勁，而我們帶入市場的設計和功能給我們在所有價格點上提供競爭優勢。 即使政府提高利率以對抗通貨膨脹，但地板的市場條件仍然有利。我們大部分市場的就業率都很高，工資亦正在上漲。數百萬 20 多歲和 30 多歲的千禧一代都在組織家庭和渴望擁有自住物業。與過去的週期不同，美國的房屋庫存處於歷史新低中，且有更多單戶住宅正在興建中，而美國的住宅短缺將需時數年才能滿足需求。隨著住宅資產上升和現房買家仍正在完成過去幾年發起的長期項目，故此樓宇改造理仍會保持強勁。隨著營商條件的改善和因疫情而延遲的項目再啟動，商用新建築工程和樓宇改造亦持續加強。 在地緣政治緊張及通貨膨脹上升的背景下，Mohawk 繼續提供銷售增長、產生強勁的現金流，並維持歷史低位槓桿。鑑於我們的股票估值低於我們的收益，公司董事局在 2 月批准了一項額外 5 億美元的股票回購計劃。我們在第一季度以 3.07 億美元的價格收購了 210 萬股股票。自 2020 年初以來，我們已收購了 850 萬股，佔未清餘額的 12%，反映我們對 Mohawk 長期增長和盈利能力充滿信心。 根據報告，在第一季度，全球陶瓷部門的銷售額增加 14.5%，而按固定貨幣和天數計算為 18.5％。由於通貨膨脹上升，包括歐洲天然氣危機和更正常的季節性情況，抵消了定價和產品組合的改善、生產力以及更高的銷量，該部門的經營利潤率為 9.4%。我們的美國陶瓷業務透過加強其產品組合並實施多項價格上調來納通貨膨脹，繼續改善銷售和利潤率。透過提供瓷磚進口的替代品，我們的美國銷售理應受到積極影響，因瓷磚進口價格正在上漲，且加上遇到運輸延誤。我們的石英檯面銷售正在迅速增長，為了滿足需求，我們已開始建設工程以擴大在田納西州的檯面設施產能。即使我們在本季度的銷售額受到低庫存限制，但我們在墨西哥和巴西的陶瓷業務業績仍然保持強勁。為了緩解限制，我們提高了墨西哥的產能，並且正在跟政府機構就在巴西建造新瓷磚設施的許可和激勵措施進行交涉。在我們的歐洲陶瓷業務中，隨著消費者需求的強勁增長，第一季度的銷售有所增長，因此我們的客戶在預期通貨膨脹方面增加了庫存水平。當烏克蘭停止向西歐供應黏土時，歐洲的陶瓷行業生產被迫中斷。我們在入侵之前就預料到供應問題並增加了庫存水平，以避免我們的生產中斷。今年餘下時間的天然氣價格較之前的估計有所上升，因此推高了我們的未來成本。我們透過提高價格超過預期以改善我們的業績，並且增強我們的產品組合。 根據報告，本季度我們的世界地板部門的淨銷售額增加約 14.2%，而按固定貨幣計算為 22.1%。根據報告，該部門的經營利潤率為 15.3%，調整通貨膨脹影響、供應鏈中斷和外匯影響（部分由本季度的定價和組合收益抵消）為 15.5%。在充滿挑戰的情況下，該部門的領導團隊採取了相應行動，以管理不斷上升的能源成本、通貨膨脹及不穩定的供應鏈。儘管價格多次上漲，但我們落後於歐洲迅速上漲的成本，並宣佈了進一步提升價格以應對持續的通脹壓力。儘管材料供應規限了生產，但層壓板的銷售額在本季度有所增加，而我們預計隨著擴大優質層壓板類別，長期增長可以持續。為了支持未來更高的銷售，我們在比利時的層壓板擴展應可在 2023 年底前投入運作。我們 LVT 和乙烯基板材業務的銷售受到材料中斷和低庫存水平的負面所影響。這兩個類別的原材料供應都特別具挑戰性，但隨著在本季度推進，我們的情況有所改善。我們購入了一家在愛爾蘭和英國設有工廠的絕緣製造商，而增加了我們對聚氨酯絕緣產品的市場佔有率。在我們收購的其中一家絕緣工廠中，我們現正開始一條採用最先進技術的新生產線。我們的小組銷售額在本季度顯著增長，而新的高壓層壓板生產線正將我們的製造能力擴展至新的產品類別，以便與其他木材面板協調。隨著我們提高效率和擴大產能，我們最近收購的 MDF 設施 (主要配送設施) 的整合正在取得進展。在疫情限制放緩後，我們的澳洲業務的需求強勁，但新西蘭仍然因為持續限制而困難重重。 根據報告，本季度我們的北美地板部門銷售額增加 10.6％，按固定天數匯率計算增長 12.3％，由於通脹以及恢復正常的季節性情況，部份抵消定價和產品組合改善及生產力的影響，我們的營運利潤率為 8.9％。該部門正在管理我們經歷過的最嚴重通貨膨脹，並正在實施進一步的價格上調。我們在過去兩年實施的策略改善了我們的銷售執行、成本結構、服務水平，並使我們能夠管理這個困難的環境。我們在整個部門中啟動了多個項目，旨在提高生產力、提升效率並為我們的資產升級，以改善業績。Mohawk 持有領先的層壓板市場佔有率，隨著我們新的生產線加強，我們優質系列的銷售在本季度繼續增長。隨著網上市場需求上升，北美市場的需求正在吸收我們額外的產量，而我們明年將進一步擴大美國產能，以支援持續增長。我們的 LVT 銷售在第一季度繼續顯著增長，我們也受益於所有渠道中的改良產品。我們的 LVT 利潤率受到供應中斷的影響，造成生產中斷、採購產品延誤和海運成本上升。我們新的西岸 LVT 設施正在啟動生產和微調流程。住宅地毯服務有大幅改善，而客戶陸續減低庫存，從而影響銷售。我們正在提高價格以進一步抵消上升的材料和能源成本。透過降低複雜性、簡化營運並提高效率，我們正在改善成本。在政府、工作場所和醫護渠道的強勢帶動下，我們的商業地板銷售繼續反彈。隨著新和延期項目逐漸再開，我們的地毯瓷磚和商業 LVT 系列的銷售也逐步增長。我們推出了一款新的地毯瓷磚，提供卓越的聲效和舒適度，同時以一半的碳足跡實現最高的可持續性認證。我們將繼續尋找創新的解決方案，以加強我們的環境表現，保持我們在環保產品方面的領導地位。 踏入 2022 年的頭四個月，儘管通貨膨脹和利率壓力，我們仍對今年的行業增長保持謹慎樂觀。隨著通貨膨脹持續上升，我們宣佈大多數的產品和市場出現額外的價格上漲。住屋供應達到歷史低位，而抵押貸款利率不斷上升正令家庭得以更快購買物業自住。在過去兩至三年間，房屋改造理應受到持續現房銷售、更高的住宅資產及為購買住宅進行升級支援。我們預計，商業部門將隨著人們回復疫情前的常規而繼續反彈。我們預計受限材料的供應將有所改善，因此將有助增加我們的生產水平。儘管我們正在提高價格，但歐洲能源成本的歷史性上漲仍繼續影響我們的業務。我們的資本投資將在完成後，將緩解我們的具體產能限制，並增加產品系列。今年，我們專於優化產品組合和利潤率，控制支出並啟動其他生產力行動。考慮到這些因素，我們預計不計任何重組費用，第二季度調整後的每股收益將在 4.25 美元至 4.35 美元之間。 儘管出現短期不確定因素，我們對業務的長遠未來仍然充滿信心。在全球，房屋結構赤字將需要數年才能滿足，我們將受益於新住宅建設、住宅改造和商業項目強勁的長期趨勢。我們的品牌在地板方面最受認可，同時提供全面的產品組合，包括業界最廣泛的可持續產品系列。我們透過可產生潛在客戶、簡化訂購和加快送貨的多個領先數碼工具，幫助客戶更輕鬆地發展業務。透過我們才華橫溢的團隊進行創新，我們將繼續領導行業的設計、表現和價值。我們資產負債表的實力讓我們能夠落實與業務相輔相成的變革和補強收購。在未來三至五年內，這些優勢應能加強 Mohawk 的銷售和利潤率擴張。」 關於 MOHAWK INDUSTRIES Mohawk Industries 是全球領先的地板製造公司，致力創造可提升全球住宅和商業空間的產品。Mohawk 垂直整合的製造和分銷流程在地毯、小毛毯、瓷磚、層壓板、木材、石材和乙烯基地板的生產方面擁有競爭優勢。我們行業領先的創新產品及技術使我們的品牌在市場上脫穎而出，並滿足所有改造及新建工程要求。我們是在行內最受認可的品牌，並包括 American Olean、Daltile、Durkan、Eliane、Feltex、Godfrey Hirst、IVC、Karastan、Marazzi、Mohawk、Mohawk Group、Pergo、Quick-Step 及 Unilin。在過去十年間，Mohawk 已憑藉全球業務將其業務從一家美國地毯製造商演化為世上最大的地板公司。 前面幾段中的某些陳述，特別是那些預期未來業績、業務前景、增長和經營策略以及類似事項以及包括「可能」、「應該」、「相信」、「預期」、「預期」和「估計」或類似表達構成「前瞻性陳述」的陳述。」 對於這些陳述，Mohawk 受 1995 年《美國私人證券訴訟改革法案》中包含的前瞻性陳述的保護。無法保證前瞻性陳述是準確的，因其基於許多假設、涉及風險及不確定性。以下重要因素可能導致未來結果有所不同：經濟或行業狀況的變化；競爭；貨運的通貨膨脹與通貨緊縮，原材料價格及其他投入成本；消費市場的通貨膨脹與通貨緊縮；貨幣波動；能源成本與供應；時間和資本支出水平；公司產品的價格上調時間和實施；減值費用；收購的整合；國際業務；新產品的推出；操作的合理性; 稅收與稅收改革，產品及其他索賠；訴訟；與2019 冠狀病毒病疫情及俄羅斯在烏克蘭採取軍事行動或其他地緣政治事件相關的風險和不確定性；公司營業的司法管轄區的監管和政治變化；以及 Mohawk 的 美國證券交易委員會報告和公開公告中指出的其他風險。 視像會議時間為 2022 年 4 月 29 日（星期五）上午 11 時（美國東部時間） 電話號碼為 1-800-603-9255 （美國／加拿大）及 1-706-634-2294 （國際／本地）。會議驗證碼：2649466。在 2022 年 5 月 29 日或之前，可致電 1-855-859-2056 （美國／本地）及 1-404-537-3406 （國際／本地）並輸入會議驗證碼：2649466 收聽重播。 Reconciliation of Net Earnings Attributable to Mohawk Industries, Inc. to Adjusted Net Earnings Attributable to Mohawk Industries, Inc. and Adjusted Diluted Earnings Per Share Attributable to Mohawk Industries, Inc. (Amounts in thousands, except per share data) Three Months Ended April 2,2022 April 3, 2021 Net earnings attributable to Mohawk Industries, Inc. $ 245,329 236,807 Adjusting items: Restructuring, acquisition and integration-related and other costs 1,918 11,574 Acquisitions purchase accounting, including inventory step-up - 303 Release of indemnification asset 7,263 - Income taxes - reversal of uncertain tax position (7,263 ) - Income taxes (1,684 ) (2,735 ) Adjusted net earnings attributable to Mohawk Industries, Inc. $ 245,563 245,949 Adjusted diluted earnings per share attributable to Mohawk Industries, Inc. $ 3.78 3.49 Weighted-average common shares outstanding - diluted 64,970 70,474 Reconciliation of Total Debt to Net Debt Less Short-Term Investments (Amounts in thousands) April 2,2022 Short-term debt and current portion of long-term debt $ 1,546,463 Long-term debt, less current portion 1,088,401 Total debt 2,634,864 Less: Cash and cash equivalents 230,559 Net Debt 2,404,305 Less: Short-term investments 310,000 Net debt less short-term investments $ 2,094,305 Reconciliation of Operating Income to Adjusted EBITDA (Amounts in thousands) Trailing Twelve Three Months Ended Months Ended July 3,2021 October 2,2021 December 31,2021 April 2,2022 April 2,2022 Operating income $ 404,424 359,974 253,098 320,801 1,338,297 Other income (expense) 11,168 (21 ) (1,140 ) (2,438 ) 7,569 Net income attributable to noncontrolling interests (168 ) (206 ) (11 ) (105 ) (490 ) Depreciation and amortization (1) 148,466 148,618 143,411 141,415 581,910 EBITDA 563,890 508,365 395,358 459,673 1,927,286 Restructuring, acquisition and integration-related and other costs 3,321 982 4,641 1,918 10,862 Acquisitions purchase accounting, including inventory step-up 153 226 1,067 - 1,446 Resolution of foreign non-income tax contingencies (6,211 ) - - - (6,211 ) Release of indemnification asset - - - 7,263 7,263 Adjusted EBITDA $ 561,153 509,573 401,066 468,854 1,940,646 Net Debt less short-term investments to adjusted EBITDA 1.1 (1) Includes $8,417 of accelerated depreciation recorded for the trailing twelve months ended April 2, 2022. Reconciliation of Net Sales to Net Sales on a Constant Exchange Rate and on Constant Shipping Days (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Net sales $ 3,015,663 2,669,026 Adjustment to net sales on constant shipping days 21,018 - Adjustment to net sales on a constant exchange rate 93,781 - Net sales on a constant exchange rate and constant shipping days $ 3,130,462 2,669,026 Reconciliation of Segment Net Sales to Segment Net Sales on a Constant Exchange Rate and on Constant Shipping Days (Amounts in thousands) Three Months Ended Global Ceramic April 2,2022 April 3, 2021 Net sales $ 1,064,757 929,871 Adjustment to segment net sales on constant shipping days 4,269 - Adjustment to segment net sales on a constant exchange rate 32,423 - Segment net sales on a constant exchange rate and constant shipping days $ 1,101,449 929,871 Reconciliation of Segment Net Sales to Segment Net Sales on Constant Shipping Days (Amounts in thousands) Three Months Ended Flooring NA April 2,2022 April 3, 2021 Net sales $ 1,071,910 969,250 Adjustment to segment net sales on constant shipping days 16,749 - Segment net sales on constant shipping days $ 1,088,659 969,250 Reconciliation of Segment Net Sales to Segment Net Sales on a Constant Exchange Rate (Amounts in thousands) Three Months Ended Flooring ROW April 2,2022 April 3, 2021 Net sales $ 878,996 769,905 Adjustment to segment net sales on a constant exchange rate 61,358 - Segment net sales on a constant exchange rate $ 940,354 769,905 Reconciliation of Gross Profit to Adjusted Gross Profit (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Gross Profit $ 802,128 791,769 Adjustments to gross profit: Restructuring, acquisition and integration-related and other costs 938 10,182 Acquisitions purchase accounting, including inventory step-up - 303 Adjusted gross profit $ 803,066 802,254 Reconciliation of Selling, General and Administrative Expenses to Adjusted Selling, General and Administrative Expenses (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Selling, general and administrative expenses $ 481,327 474,254 Adjustments to selling, general and administrative expenses: Restructuring, acquisition and integration-related and other costs (980 ) (1,002 ) Adjusted selling, general and administrative expenses $ 480,347 473,252 Reconciliation of Operating Income to Adjusted Operating Income on a Constant Exchange Rate (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Operating income $ 320,801 317,515 Adjustments to operating income: Restructuring, acquisition and integration-related and other costs 1,918 11,184 Acquisitions purchase accounting, including inventory step-up - 303 Adjustment to operating income on a constant exchange rate 11,210 - Adjusted operating income on a constant exchange rate $ 333,929 329,002 Reconciliation of Segment Operating Income to Adjusted Segment Operating Income on a Constant Exchange Rate (Amounts in thousands) Three Months Ended Global Ceramic April 2,2022 April 3, 2021 Operating income $ 100,338 87,804 Adjustments to segment operating income: Restructuring, acquisition and integration-related and other costs - 1,273 Adjustment to segment operating income on a constant exchange rate 2,989 - Adjusted segment operating income on a constant exchange rate $ 103,327 89,077 Reconciliation of Segment Operating Income to Adjusted Segment Operating Income (Amounts in thousands) Three Months Ended Flooring NA April 2,2022 April 3, 2021 Operating income $ 95,324 81,298 Adjustments to segment operating income: Restructuring, acquisition and integration-related and other costs 105 8,859 Adjusted segment operating income $ 95,429 90,157 Reconciliation of Segment Operating Income to Adjusted Segment Operating Income on a Constant Exchange Rate (Amounts in thousands) Three Months Ended Flooring ROW April 2,2022 April 3, 2021 Operating income $ 134,650 159,306 Adjustments to segment operating income: Restructuring, acquisition and integration-related and other costs 1,813 1,054 Acquisitions purchase accounting, including inventory step-up - 303 Adjustment to segment operating income on a constant exchange rate 8,221 - Adjusted segment operating income on a constant exchange rate $ 144,684 160,663 Reconciliation of Earnings Including Noncontrolling Interests Before Income Taxes to Adjusted Earnings Including Noncontrolling Interests Before Income Taxes (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Earnings before income taxes $ 306,882 304,501 Net earnings attributable to noncontrolling interests (105 ) (4 ) Adjustments to earnings including noncontrolling interests before income taxes: Restructuring, acquisition and integration-related and other costs 1,918 11,574 Acquisitions purchase accounting, including inventory step-up - 303 Release of indemnification asset 7,263 - Adjusted earnings including noncontrolling interests before income taxes $ 315,958 316,374 Reconciliation of Income Tax Expense to Adjusted Income Tax Expense (Amounts in thousands) Three Months Ended April 2,2022 April 3, 2021 Income tax expense $ 61,448 67,690 Income taxes - reversal of uncertain tax position 7,263 - Income tax effect of adjusting items 1,684 2,735 Adjusted income tax expense $ 70,395 70,425 Adjusted income tax rate 22.3 % 22.3 % The Company supplements its condensed consolidated financial statements, which are prepared and presented in accordance with US GAAP, with certain non-GAAP financial measures. As required by the Securities and Exchange Commission rules, the tables above present a reconciliation of the Company's non-GAAP financial measures to the most directly comparable US GAAP measure. Each of the non-GAAP measures set forth above should be considered in addition to the comparable US GAAP measure, and may not be comparable to similarly titled measures reported by other companies. The Company believes these non-GAAP measures, when reconciled to the corresponding US GAAP measure, help its investors as follows: Non-GAAP revenue measures that assist in identifying growth trends and in comparisons of revenue with prior and future periods and non-GAAP profitability measures that assist in understanding the long-term profitability trends of the Company's business and in comparisons of its profits with prior and future periods. The Company excludes certain items from its non-GAAP revenue measures because these items can vary dramatically between periods and can obscure underlying business trends. Items excluded from the Company's non-GAAP revenue measures include: foreign currency transactions and translation and the impact of acquisitions. The Company excludes certain items from its non-GAAP profitability measures because these items may not be indicative of, or are unrelated to, the Company's core operating performance. Items excluded from the Company's non-GAAP profitability measures include: restructuring, acquisition and integration-related and other costs, acquisition purchase accounting, including inventory step-up, release of indemnification assets and the reversal of uncertain tax positions. 聯絡人：James Brunk － 財務總監 (706) 624-2239
BEIJING, April 29, 2022 /PRNewswire/ -- China Life Insurance Company Limited (the "Company") (NYSE: LFC; HKSE: 2628; SSE: 601628), announced that the Company has filed its 2021 Annual Report on Form 20-F (the "2021 Form 20-F"), which includes its audited financial statements for the fiscal year ended December 31, 2021, with the United States Securities and Exchange Commission. The Company has made available through its website (www.e-chinalife.com) its 2021 Form 20-F, which can also be accessed electronically at www.sec.gov. Upon request by any shareholder or ADR holder, the Company will also deliver, free of charge and within a reasonable period of time after such request, a hard copy of its complete audited financial statements for the fiscal year ended December 31, 2021. To request a hard copy of the audited financial statements, please send your request by mail to the following address: Proxy Services Corporation2180 5th Avenue - Suite #4Ronkonkoma, NY 11779
MONTREAL, April 28, 2022 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) will publish its financial results for the first quarter of 2022 on May 5, 2022. On the same day, Bombardier will hold its Annual and Special Meeting of Shareholders (“Meeting”) in a virtual format. Quarterly Conference Call On May 5, 2022, at 8:00 a.m. EDT, Bombardier will hold a webcast/conference call intended for investors and financial analysts to review the company’s financial results for the first quarter ended March 31, 2022. A live webcast of the call and relevant financial charts will be available at https://ir.bombardier.com Stakeholders wishing to listen to the presentation and subsequent question-and-answer period by telephone may dial one of the following conference call numbers: In English: Toll-free dial-in number (Canada/U.S.): 1-800-898-3989 Local dial-in number: 514-861-3304 International dial-in numbers Participant passcode: 2230833# In French (with translation): Toll-free dial-in number (Canada/U.S.): 1-877-395-0279 Local dial-in number: 514-392-1587 International dial-in numbers Participant passcode: 4427560# Media Call May 5, 2022, at 9:30 a.m. EDT, members of the media are invited to dial in to a short Question and Answer session following our quarterly earnings call and before the virtual Annual and Special Meeting of Shareholders. Éric Martel, President and Chief Executive Officer of Bombardier, will be available to answer your questions related to the Q1 2022 financial results. Media who would like to attend the Q&A session are asked to RSVP by emailing heather.neale@aero.bombardier.com. Bilingual: Toll-free dial-in number (Canada/U.S.): 1-800-952-5114 Local dial-in number: 416-406-0743 International dial-in numbers Participant passcode: 2423914# Annual and Special Meeting of Shareholders On May 5, 2022, at 10:30 a.m. EDT, Bombardier welcomes all registered shareholders and duly appointed proxyholders who wish to participate in the online Meeting to do so by joining the live webcast available at https://bombardier.com/en/agm2022. Only registered shareholders and duly appointed proxyholders will be allowed to vote and ask questions during the live Meeting. Non-registered shareholders, guests and media will be able to watch online via the live webcast available at the same link. Instructions on how to vote and participate in the online Meeting, including submitting questions to management and to the Chairman of the Board of Directors of Bombardier, will be available on the Corporation’s website here and on the online Meeting platform. Bombardier encourages shareholders to vote and submit their proxies prior to the Meeting. The live webcast and relevant documents for both the Annual and Special Meeting of Shareholders and the conference call will be available at https://bombardier.com/en/agm2022. A recording of the Meeting and the call will be posted on Bombardier’s website shortly after the end of the webcast. About Bombardier Bombardier is a global leader in aviation, focused on designing, manufacturing and servicing the world's most exceptional business jets. Bombardier’s Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. Bombardier aircraft are also trusted around the world in special-mission roles. Headquartered in Montréal, Québec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s robust customer support network includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China and an Australian facility opening in 2022. For corporate news and information, including Bombardier’s Environmental, Social and Governance report, visit bombardier.com. Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier. Bombardier is a registered trademark of Bombardier Inc. or its subsidiaries. For Information Francis Richer de La Flèche Vice President Financial Planning and Investor Relations Bombardier +514 855 5001 x13228 Anna Cristofaro Manager Communications Bombardier +1 514 855 8678
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