On the evening of August 22, Monster Charging (NASDAQ: EM) released its unaudited financial report for the second quarter of 2024.
Starting from the second quarter of 2023, the recognition of revenue from Monster Charging Agency business will be adjusted from full to net. Monster Charging achieved a revenue of 463 million yuan in the second quarter of 2024; Under Non GAAP, Monster Charging's adjusted net profit was RMB 15.2 million, maintaining Non GAAP profitability for six consecutive quarters; According to GAAP, the net profit was 9.2 million yuan.
Monster Charging CEO Cai Guangyuan said, "Our profitability further recovered in the second quarter of this year. We are firmly adjusting our business model, focusing on the sustainable development of the agency sector, and working with more agents to deeply cultivate our industry. In addition, we are actively exploring the layout of shared charging business overseas to promote business growth
It is reported that recently, Monster Charging announced the official launch of overseas investment projects, recruiting overseas project partners from around the world. As of the end of June, Monster Charging has a total of 9.5 million online power banks and 1.267 million POIs (Points of Interest) nationwide.