On the evening of November 27th, Monster Charging released its unaudited financial report for the third quarter ended September 30, 2023.
Data shows that in the third quarter of 2023, the revenue from monster charging was 613 million yuan, a year-on-year decrease of 24.72%; The net profit was 50 million yuan, while the net loss for the same period in 2022 was 96 million yuan; The adjusted net profit (non GAAP) was RMB 55 million, while the net loss for the same period in 2022 was RMB 89 million. For the year-on-year decrease in revenue, the financial report stated that this is because from the second quarter of this year, the recognition of revenue from the monster charging channel business has been adjusted from full to net.
Monster Charging CEO Cai Guangyuan said, "In the third quarter, our shared charging service GMV (referring to the total transaction volume of the company's mobile charging business) and POI (point) reached historic highs. While expanding in scale, our profitability also recovered during the peak season. We have been focusing on improving operational efficiency while maintaining healthy growth, and we will continue to use these two strategies as the direction for sustained growth in the future."
Monster Charging President Xu Peifeng said, "We will continue to adhere to the dual mode drive of 'direct sales model+channel model'. While consolidating and increasing market share, we will maintain diversified business structures to adapt to flexible regional market environments. For direct sales business, we will focus more on high-quality KA (key customers)." In addition to continuously optimizing the structure of direct operated stores, we will fully leverage the advantages of direct operated stores in technology, operation, service, funding, and marketing to provide business empowerment for our partners in high-yield stores. For the channel model, while shifting some of our direct sales points to operate under the channel model, we rely on the channel model to drive point growth, expand the vast sinking market faster and more efficiently, and form complementary advantages with the direct sales model that deeply cultivates first and second tier cities, jointly improving the coverage of the shared charging service network