Ucommune International Ltd (OQ:UK)

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Company Contact

Address:	555 Madison Avenue, 5Th Flr BEIJING BEJ 100025
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Website:	https://ir.ucommune.com
IR:	See website

Key People

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Business Overview

Ucommune International Ltd is an agile office space manager and provider. The Company has developed an intelligent agile office ecosystem covering economically vibrant regions throughout China, while providing office space solutions. The Company categorizes its spaces into two models Self-operated Model and Asset-light Model. The Self-operated Model includes U Space and U Design. Its Asset-light Model includes U Brand and U Partner. The Company has built a technology-driven platform consisting of U Bazaar, a smart office system, Internet of things (IoT) solutions and a data management system, Udata, to foster a vibrant Ucommune community by offering U Plus services to satisfy member needs. The Company provides a suite of U Plus services, including individual services, general corporate services, incubation and corporate venturing services, design and build services, advertising and branding services, and related services to serve its community.

Financial Overview

For the fiscal year ended 31 December 2023, Ucommune International Ltd revenues decreased 30% to RMB459.8M. Net loss decreased 98% to RMB4.9M. Revenues reflect Workspace membership segment decrease of 52% to RMB124.1M, Marketing and branding services segment decrease of 17% to RMB237.4M. Lower net loss reflects (Loss)/gain on disposal of subsidiaries increase from RMB23M to RMB112.8M (income).

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