Shulou(Shulou.com)11/24 Report--

On the evening of September 8, Beijing time, Monster charging (NASDAQ:EM) today released its results for the second quarter of 2022, which ended June 30. Revenue in the second quarter of Monster charging was 690.5 million yuan ($103.1 million), down 29.0% from the same period in 2021, according to the financial report. The net loss was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million yuan in the same period last year. Without GAAP, the adjusted net loss was 177.5 million yuan ($26.5 million), compared with an adjusted net profit of 17.2 million yuan in the same period last year.

Second quarter operating results:

As of June 30, 2022, the monster charging service covered 895000 POI (points of interest), compared with 861000 as of March 31, 2022.

As of June 30, 2022, approximately 43.2% of POI operated through the network partner model, compared with 38.9% as of March 31, 2022.

As of June 30, 2022, the number of mobile power supplies provided by Monster charging was 6 million, compared with 5.7 million as of March 31, 2022.

As of June 30, 2022, the cumulative number of registered users of Monster charging was 310.5 million, meaning an additional 116 million registered users in the second quarter.

Financial results for the second quarter:

Revenue was 690.5 million yuan ($103.1 million), down 29.0% from the same period in 2021.

The cost of revenue was 162.9 million yuan ($24.3 million), up 17.4% from 138.7 million yuan in the same period last year.

The cost of research and development was 23.7 million yuan ($3.5 million), an increase of 15.8% compared with 20.5 million yuan in the same period last year.

The operating loss was 191 million yuan ($28.5 million), compared with an operating profit of 18.8 million yuan in the same period last year.

The net loss was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million yuan in the same period last year.

Without GAAP, the adjusted net loss was 177.5 million yuan ($26.5 million), compared with an adjusted net profit of 17.2 million yuan in the same period last year.

The net loss attributable to common shareholders was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million yuan in the same period last year.

As of June 30, 2022, Monster had cash and cash equivalents, restricted cash and short-term investments of 2.9 billion yuan ($431.3 million).

Performance outlook:

Monster charging expects revenue of 770 million to 800 million yuan in the third quarter of 2022.

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