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

CTOnews.com May 22 news, Mavericks Electric today released the first quarter of 2023 results ended March 31. According to the financial report, Mavericks Electric's revenue in the first quarter was 417.2 million yuan, down 27.5% compared with the same period in 2022. The net loss was 60.3 million yuan, compared with a net loss of 29.6 million yuan in the same period in 2022. Without Non-GAAP, the adjusted net loss was 46.1 million yuan, compared with a net profit of 16.3 million yuan in the same period in 2022.

▲ Tu Yuan Mavericks Electric official website CTOnews.com inquires the operation data from Mavericks Electric official website to the first quarter of 2023 as follows:

Sales of electric vehicles were 94407, down 42.3% from the same period last year.

Sales of electric vehicles in China were 81518, down 45.3% from the same period last year.

Sales of electric vehicles in the international market were 12889, down 12.2% from the same period last year.

As of March 31, 2023, the number of franchise stores in China was 2853.

As of March 31, 2023, the international sales network consists of 53 distributors covering 52 countries.

According to the financial report, the revenue cost was 326.9 million yuan, down 29.8% from a year earlier, mainly due to a decline in sales of electric scooters. The cost per electric scooter (defined as the income cost divided by the number of electric scooters sold in a specific period) was 3462 yuan, an increase of 21.6% from 2846 yuan in the first quarter of 2022, mainly due to changes in the product mix.

In addition, the R & D cost of Mavericks Electric is RMB 35 million (including RMB 6.4 million for equity incentives), down 16.4% from RMB 41.8 million in the first quarter of 2022, mainly due to a reduction of RMB 3.9 million in staff costs, a reduction of RMB 2.9 million in design costs, and a reduction of RMB 1.8 million in professional fees for system development, partly offset by an increase of RMB 1.5 million in equity incentive fees. Research and development costs accounted for 8.4% of revenue, compared with 7.3% in the first quarter of 2022.

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