Gross profit was RMB125.7 million (US$19.2 million), compared to gross profit of RMB187.8 million in the same period in 2020.
Gross margin was 18.8%, compared with 26.5% in the same period in 2020.
Total operating expenses were RMB118.5 million (US$18.1 million), remained stable as that of RMB117.1 million in the same period of 2020.
Total income from operations was RMB7.9 million (US$1.2 million), compared with RMB70.9 million in the same quarter of 2020.
Net income attributable to Onion Global’s ordinary shareholders was RMB8.9 million (US$1.4 million) or 1.3% net margin, compared with net income attributable to Onion Global’s ordinary shareholders of RMB55.3 million or net margin of 7.8% in the same period of 2020.
Basic and diluted Earnings per share5 was RMB1 (US$0.15), compared with RMB7 in the same quarter of 2020.
As of March 31, 2021, the Company had cash and cash equivalents of RMB273.2 million (US$41.7 million), compared to RMB241.7 million as of December 31, 2020. Short-term investments, as of March 31, 2021, decreased to RMB85.0 million (US$13.0 million) from RMB103.2 million as of December 31, 2020, as the Company redeemed certain short-term financial products in the first quarter of 2021.
Definitions
| 1. | “we,” “our,” “Onion Global”, the “Group” and the “Company,” refer to Onion Global Limited, a Cayman Islands company, its subsidiaries and, in the context of describing our operations and consolidated financial statements, its VIE and subsidiaries of VIE. |
| 2. | “GMV” (i) with respect to GMV generated by sales through self-operated distribution channels (including O’Mall) and third-party platforms, such term refers to gross merchandise volume, which represents the total value of confirmed orders placed with us and sold via our platforms, including the total value of orders sold through our active KOCs through their social networks, as well as the VAT and tax surcharges paid, regardless of whether the merchandises are returned and without taking into consideration any incentives granted to KOCs; for the avoidance of doubt, such value of confirmed orders placed with and sold via our platforms before deduction of discounts and loyalty points applied to the orders sold and (ii) with respect to GMV generated by the Group, such term includes both (a) GMV referred in (i) and (b) all types of payments made by individuals who open an O’Partner account registered with our system. |
| 3. | “active KOCs” refers to KOCs that confirmed one or more shipped orders on our platform within the indicated period. |
| 4. | “active buyers” refers to a registered account, identified by a phone number that confirmed one or more shipped orders on our platform within the indicated period, which, for the avoidance of doubt, includes active KOCs. |
| 5. | Ten ADSs represent one ordinary share. |
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB to U.S. dollars, in this announcement, were made at a rate of RMB6.5518 to US$1.00, the noon buying rate in effect on March 31, 2021 as certified for customs purposes in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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 and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “target,” “aim,” “future,” “intends,” “plans,” “believes,” “potential,” “estimates” “continue,” “is/are likely to,” or other similar statements. Further information regarding these and other risks is included in Onion Global’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 Onion Global does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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