Market Performance - US stock market opened lower but rebounded, with the Dow Jones up 0.08%, marking the third consecutive day of gains, while the Nasdaq rose 0.67% and the S&P 500 increased by 0.41% [1] - Major tech stocks mostly saw gains, with Micron Technology up nearly 4%, AMD and Meta up over 3%, and Nvidia up over 1% [1] Economic Indicators - US import indicators have dropped to their lowest level in 16 years, reflecting reduced procurement by businesses facing rising tariffs [2] - The ISM manufacturing purchasing managers' index fell by 0.2 points to 48.5, indicating contraction in the manufacturing sector [2] - The ISM import index saw a significant decline of 7.2 points to 39.9, marking one of the largest monthly drops historically [2] Trade Policy Developments - The Trump administration is seeking to appeal a court ruling that deemed its tariff policies "illegal," following a preliminary injunction from a federal court in Washington D.C. [3] - The U.S. International Trade Court has also ruled against the enforcement of tariffs imposed under the International Emergency Economic Powers Act [3] Oil Market Dynamics - Oil prices increased as OPEC+ production rises were lower than expected, with WTI crude oil up 2.85% to nearly $63 per barrel [4] - Geopolitical tensions in Ukraine and Iran, along with wildfires in Canada affecting production, have contributed to the rise in oil prices [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...

UCOMMUNE INTERNATIONAL LTD Index to the unaudited condensed consolidated financial statements | Contents | Pages | | --- | --- | | Condensed Consolidated Balance Sheets as of December 31, 2023 and June 30, 2024 (Unaudited) | F-2 – F-4 | | Unaudited Condensed Consolidated Statements of Operations for the six months ended June 30, 2023 and 2024 | F-5 – F-6 | | Unaudited Condensed Consolidated Statements of Comprehensive Loss for the six months ended June 30, 2023 and 2024 | F-7 | | Unaudited Condensed Consoli ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 | --- | --- | --- | |--------------------------------------------------|-------|-------------------------------------| | | | | | Warrants* to purchase Class A ordinary | UKOMW | The Nasdaq Stock Market LLC | | shares | | | FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the ...

Exhibit 99.1 Ucommune Announces Extraordinary General Meeting Results and Share Consolidation BEIJING, November 29, 2023 /PRNewswire/ -- Ucommune International Ltd (NASDAQ: UK) ("Ucommune" or the "Company"), a leading co-working office space manager and provider in China, today announced that at an extraordinary general meeting of the Company held at 10 A.M. on November 29, 2023, Beijing time (9 P.M. on November 28, 2023, U.S. Eastern time) (the "Meeting"), its shareholders approved: Safe Harbor Statements ...

Revenue Performance - Total revenue for the six months ended June 30, 2023, was RMB 270,102, a decrease of 9.2% from RMB 297,327 in the same period of 2022[12] - Workspace membership revenue for the six months ended June 30, 2023, was RMB 154,917, compared to RMB 161,336 for the same period in 2022, reflecting a decline of 3.9%[12] - Net revenues for the six months ended June 30, 2023, were RMB 270,102, a decrease from RMB 283,515 for the same period in 2022, representing a decline of approximately 4.97%[37] - Total revenue for the six months ended June 30, 2023, was RMB 270,102, a decrease from RMB 297,327 in the same period of 2022, with workspace membership revenue dropping from RMB 161,336 to RMB 70,793[178] Financial Losses - The net loss attributable to Ucommune International Ltd for the six months ended June 30, 2023, was RMB 38,419, significantly improved from a net loss of RMB 229,269 in the same period of 2022[16] - The company reported a total comprehensive loss of RMB 51,676 for the six months ended June 30, 2023, compared to a loss of RMB 251,742 in the same period of 2022[16] - Net loss for the six months ended June 30, 2023, was RMB 51,676, a significant decrease from RMB 251,742 in the same period of 2022, representing a reduction of approximately 79.5%[19] - Total comprehensive loss attributable to Ucommune International Ltd's shareholders for the six months ended June 30, 2023, was RMB 41,442, down from RMB 227,899 in 2022, indicating a decrease of about 81.8%[19] - For the six months ended June 30, 2023, the net loss attributable to shareholders was RMB 38,419, compared to a net loss of RMB 229,269 for the same period in 2022, reflecting a significant reduction in losses[161] Asset and Liability Management - Total current assets decreased from RMB 364,956 as of December 31, 2022, to RMB 309,312 as of June 30, 2023, a decline of 15.2%[4] - Total liabilities decreased from RMB 960,974 as of December 31, 2022, to RMB 716,906 as of June 30, 2023, a reduction of 25.4%[8] - The total assets decreased from RMB 1,038,366 as of December 31, 2022, to RMB 749,485 as of June 30, 2023, a decline of 27.8%[4] - The company’s accumulated deficit increased from RMB 4,529,473 as of December 31, 2022, to RMB 4,574,403 as of June 30, 2023[9] - Cash and cash equivalents increased from RMB 53,245 as of December 31, 2022, to RMB 58,274 as of June 30, 2023, an increase of 3.9%[4] - Cash and cash equivalents as of June 30, 2023, were RMB 58,274, down from RMB 80,941 at the end of 2022, reflecting a decrease of about 28.1%[27] - The Group's accounts receivable decreased from RMB 225,917 as of December 31, 2022, to RMB 166,159 as of June 30, 2023, a decline of approximately 26.5%[84] Cash Flow and Operating Activities - Net cash provided by operating activities for the six months ended June 30, 2023, was RMB 30,699, compared to a cash outflow of RMB 107,225 in the same period of 2022, marking a turnaround of approximately RMB 137,924[27] - Net cash provided by operating activities for the six months ended June 30, 2023, was RMB 22,125, compared to a net cash used of RMB 14,274 for the same period in 2022, showing a positive turnaround[37] - The company experienced a net cash used in investing activities of RMB 5,218 for the six months ended June 30, 2023, compared to RMB 30,926 in the same period of 2022, indicating a reduction in cash outflow[27] - The company reported a net cash used in financing activities of RMB 18,492 for the six months ended June 30, 2023, compared to a net cash outflow of RMB 268 in the same period of 2022[27] Impairment and Credit Losses - The company recorded nil impairment losses on ROU assets and RMB 25,825 impairment losses on other non-current assets during the six months ended June 30, 2023[48] - The allowance for credit losses increased from RMB 22,281 as of December 31, 2022, to RMB 33,995 as of June 30, 2023, indicating a rise of approximately 52.7%[84] - The allowance for credit losses decreased from RMB 30,498 million to RMB 27,020 million, a reduction of 11.5%[90] - The Group assessed an impairment loss of RMB 25,825 on long-lived assets and long-term prepaid expenses based on expected settlement amounts from a subsequent event in September 2023[181] Taxation and Deferred Tax Assets - The current tax expense for the six months ended June 30, 2023, was RMB 50, compared to RMB 4,095 in 2022, indicating a significant decrease of approximately 98.8%[119] - Deferred tax assets totaled RMB 299,129 as of June 30, 2023, a decrease from RMB 382,720 as of December 31, 2022[125] - The effective tax rate for the six months ended June 30, 2023, was significantly lower at 0.06% compared to 1.5% in the same period of 2022[131] Share-Based Compensation and Equity - The total share-based compensation expense for the six months ended June 30, 2023, was RMB 4,954, a significant decrease from RMB 22,596 for the same period in 2022[156] - As of June 30, 2023, there was approximately RMB 4,646 of total unrecognized compensation cost related to unvested share options, expected to be recognized over a weighted average period of 0.28 years[155] - The Company granted 450,000 options during the six months ended June 30, 2023, with a weighted average exercise price of $0.004[151] - The fair value of options granted for the six months ended June 30, 2023, was RMB 2,037, with a weighted average grant date fair value of RMB 4.52 per share[154] Business Model and Future Outlook - The company plans to transition from an asset-heavy model to an asset-light model to improve profitability and cash flow[45] - The company continues to explore growth opportunities but has not yet achieved a business scale sufficient to generate net profit and positive cash flows from operations[46] - The COVID-19 pandemic has had a material negative impact on the company's business operations, leading to decreased occupancy rates and revenue losses[38] Related Party Transactions - Related party balances as of June 30, 2023, included amounts due from Guangdong Advertising Co., Ltd. of RMB 430 and amounts due to Angela Bai of RMB 5,381, reflecting ongoing transactions with related parties[165]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...