Huge loss of 460 million! The performance of the heavily indebted Youkeshu is declining again

It is learned that on April 26, Shenzhen's big seller Youkeshu released its 2023 annual report.

During the reporting period, Youkeshu achieved operating income of 464 million yuan, a decrease of 40.01% compared with the same period last year; and the net profit attributable to the parent company's owners was -485 million yuan, a decrease of 32.10% compared with the same period last year.

Youkeshu stated in its financial report that the decline in operating income and net profit loss were mainly due to the following reasons:

(1) Affected by historical debts and funding pressure, Youkeshu’s cross-border e-commerce business did not recover as expected this year, and the revenue of its main e-commerce business still declined compared with the previous year, with a loss of RMB 124 million.

(2) During the reporting period, Youkeshu accrued approximately RMB20.3625 million in bank loan interest and penalty interest.

(3) Non-core businesses such as software services still incurred losses, with the amount of losses being RMB 28.6662 million.

(4) Impairment provision of RMB265 million for impaired assets

It is learned that during the reporting period, Youkeshu has been deeply cultivating mainstream platforms such as Amazon and AliExpress, while also actively developing emerging platforms such as Shopee and Lazada to achieve full coverage of "traditional platforms + emerging platforms". In 2023, in the field of cross-border e-commerce, Youkeshu's revenue from online channels will be 345 million yuan, accounting for 95.79% of the revenue of cross-border e-commerce business.

Looking ahead to 2024, Youkeshu plans to focus on specific categories in its core e-commerce business, strictly control the number of SKUs, develop high-quality private brands, and promote strategic transformation towards branding.