Luxury e-commerce website Secoo.com recently published its financial report for the first quarter of 2020, stating that the company's total operating revenue reached CNY1.005 billion, which was about USD142 million; and it made net losses of CNY42.5 million, which was about USD6 million.
If by non-GAAP, the company's net losses were CNY38.9 million, which was about USD5.5 million.
During the first quarter of 2020, Secoo's total GMV was CNY2.476 billion, a year-on-year increase of 12.2%; its total orders reached 723,000, a year-on-year increase of 11.6%; and its active user number was 340,000, a year-on-year increase of 11.5%.
Meanwhile, the company's operating cost was CNY844.6 million a year-on-year decrease of 8.9%; and its operating expense was CNY179.2 million, a year-on-year decrease of 21%.
By March 31, 2020, Secoo had CNY733.4 million cash, cash equivalents and restricted cash.