Missfresh(MF) - 2021 Q3 - Quarterly Report

Financial Performance - Total net revenues for Q3 2021 reached RMB2,121.9 million (US$329.3 million), a 47.2$399.3 million), representing a 41.0% increase from RMB1,824.7 million in Q3 2020[2] - Revenue from online product sales increased by 48.1% to RMB2,078.2 million (US$322.5 million) in Q3 2021[7] - The number of orders fulfilled reached 28.7 million in Q3 2021, a 34.4$137.6 million) for Q3 2021, compared to RMB469.9 million in Q3 2020[12] - The net loss for the three months ended September 30, 2021, was RMB 973,726, compared to a net loss of RMB 482,776 for the same period in 2020, reflecting an increase in losses of 102.0%[31] - Non-GAAP loss from operations for the three months ended September 30, 2021, was RMB 883,532, compared to RMB 476,036 for the same period in 2020, indicating a 85.5% increase[33] - The company reported a total cost and operating expenses of RMB 3,092,664 for the three months ended September 30, 2021, which is a 60.0% increase from RMB 1,930,147 in the same period of 2020[31] - The net loss per share attributable to ordinary shareholders for the three months ended September 30, 2021, was RMB (1.41), compared to RMB (6.06) for the same period in 2020[31] - The company incurred fulfillment expenses of RMB 637,869 for the three months ended September 30, 2021, up from RMB 396,166 in the same period of 2020, marking a 60.9% increase[31] Cash Flow and Liquidity - As of September 30, 2021, cash and cash equivalents totaled RMB2,479.5 million (US$384.8 million), up from RMB1,041.5 million at the end of 2020[14] - The total cash flow from operations for the nine months ended September 30, 2021, was RMB (3,017,324), compared to RMB (1,017,258) for the same period in 2020, indicating a significant increase in cash outflow[34] - Net cash used in operating activities for the three months ended September 30, 2021, was RMB (669,215), compared to RMB (388,521) for the same period in 2020, representing an increase of 72.3%[35] - Net cash used in investing activities decreased significantly to RMB (68,592) for the three months ended September 30, 2021, from RMB (795,015) in the same period of 2020, a reduction of 91.4%[35] - Net cash provided by financing activities turned negative at RMB (247,508) for the three months ended September 30, 2021, compared to a positive RMB 898,298 in the same period of 2020[35] - Cash, cash equivalents, and restricted cash at the end of the period for September 30, 2021, was RMB 2,348,329, up from RMB 930,068 at the end of the same period in 2020, reflecting an increase of 152.5%[35] Assets and Liabilities - Total current assets increased from RMB 1,449,423 thousand as of December 31, 2020, to RMB 3,086,905 thousand as of September 30, 2021, representing a growth of 113%[29] - Total liabilities increased from RMB 3,069,281 thousand to RMB 3,592,387 thousand, reflecting a rise of 17%[29] - The accumulated deficit grew from RMB (9,387,528) thousand to RMB (12,700,814) thousand, indicating a deterioration of 35%[29] - Total assets increased from RMB 2,162,762 thousand to RMB 4,157,469 thousand, marking a growth of 92%[29] - Accounts payable surged from RMB 1,088,431 thousand to RMB 1,651,732 thousand, a rise of 52%[29] - Operating lease right-of-use assets increased from RMB 469,644 thousand to RMB 736,785 thousand, reflecting a growth of 57%[29] Shareholder Equity - Total shareholders' equity improved from RMB (9,435,665) thousand to RMB 565,082 thousand, a significant turnaround[29] - Non-controlling interest was recorded at RMB 8,899 thousand as of September 30, 2021, indicating the presence of minority interests[29] - The weighted average number of ordinary shares for the three months ended September 30, 2021, was 688,715,943, compared to 101,664,001 for the same period in 2020[33] Future Outlook - The company expects Q4 2021 net revenues to be between RMB2,232 million and RMB2,315 million, indicating a year-over-year growth of approximately 35% to 40%[15]