Ucommune International Ltd. (UK) is a leader in agile office space management and supply. It provides its members with supple and cost-effective office space platforms. The company’s self-operated models comprise U Space, U Studio, and U Design along with asset-light models including U Brand and U Partner.
UK stock price during the regular trading on March 14, 2022, dropped by 32% to be $0.22. Its price rallied by 6.57% at the time of writing in the current market session of March 15, 2022.
UK: Events and Happenings
On March 15, 2022, UK reported holding an extraordinary general meeting of the shareholders on April 21, 2022. The reason behind the meeting is to impact a share consolidation of 20 ordinary shares par $0.0001 in its issued and non-issued share capital under one ordinary share par $0.002.
On February 11, 2022, UK announced its entry into a contract with Xincheng Enterprise Management Co. for the development of the Shenfu-Ucommune Online Economy Industrial Park project. On February 3, 2022, UK updated on the receipt of notification from the Nasdaq Stock Market LLC on January 24, regarding non-compliance of the least bid price obligation.
On January 14, 2022, UK stated regarding its entry into a contract with Nanchang Qinghu Industrial Park Management Company for the joint development of the Honggutan-Ucommune project.
UK: Key Financials
On November 26, 2022, UK’s third fiscal quarter 2021 financials were announced for the three months ended September 30, 2021. Some significant aspects are shared here.
Revenue
Third-quarter 2021 net revenues were RMB253.5 million in comparison to RMB199.9 million in the third quarter of fiscal 2020. The company noted an increase of 26.8% in net revenues YoY.
EPS
For the third quarter of fiscal 2021, net loss basic and diluted per share was RMB181.5 million or RMB2.01 compared to RMB169.3 million or RMB2.50 during the comparable quarter in 2020. The company’s EPS gained slightly over the year.
Conclusion
UK stock is plummeting from the last six months and touched a new low of 93% in this span. The company’s stock price jumped instantly in Tuesday’s current market trading following the issuance of an extraordinary general meeting date by the company.
