TuanChe-Tmall Auto Strategic Partnership To Explore New Business Model & Growth Opportunity

For the full year 2019, the Company’s net revenues decreased slightly by 1% YoY to ~RMB645 million (US$92.6 million,) with annual number of auto sales transactions facilitated increased by 2% YoY, outperforming the annual decline of ~8% for the overall auto industry in China, where December marked the 18^th consecutive month of a year-over-year decline in industry-wide passenger car sales in China. TuanChe’s average gross margin remained flat YoY at 71.1%.

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