{"id":405350,"date":"2020-12-23T16:33:23","date_gmt":"2020-12-23T21:33:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405350"},"modified":"2020-12-23T16:33:23","modified_gmt":"2020-12-23T21:33:23","slug":"ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/","title":{"rendered":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Dec. 23, 2020<\/span> \/PRNewswire\/ &#8212; Ucommune International Ltd. (NASDAQ: UK) (&#8220;Ucommune International&#8221;),\u00a0today announced the unaudited financial results of its acquired company, Ucommune Group Holdings Limited (&#8220;Ucommune Group&#8221; or the &#8220;Company&#8221;), a leading agile office space manager and provider in <span class=\"xn-location\">China<\/span>, for the first nine months ended <span class=\"xn-chron\">September 30, 2020<\/span>. The information provided in this release solely represents the historical financial information of Ucommune Group prior to its closing of the business combination with Ucommune International on <span class=\"xn-chron\">November 17, 2020<\/span>. <\/p>\n<p>\n        <b>Financial Highlights of the First Nine Months of 2020\u00a0<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net revenues <\/b>were <span class=\"xn-money\">RMB598.5 million<\/span> (<span class=\"xn-money\">US$88.1 million<\/span>), compared with <span class=\"xn-money\">RMB874.6 million<\/span> in the first nine months of 2019. <\/li>\n<li>\n          <b>Operating loss margin<\/b> was 38%, compared with 64% in the first nine months of 2019. <\/li>\n<li>\n          <b>Net loss<\/b> was <span class=\"xn-money\">RMB358.8 million<\/span> (<span class=\"xn-money\">US$52.8 million<\/span>), compared with <span class=\"xn-money\">RMB570.7 million<\/span> in the first nine months of 2019. <\/li>\n<li>\n          <b>EBITDA<span id=\"spanHghlt0ebc\">\u00a0<\/span>loss<\/b> (Non-GAAP) was <span class=\"xn-money\">RMB309.8 million<\/span> (<span class=\"xn-money\">US$45.6 million<\/span>), compared with <span class=\"xn-money\">RMB478.7 million<\/span> in the first nine months of 2019. For a reconciliation of EBITDA to net loss, see the &#8220;Non-GAAP Financial Measures&#8221; section and the table captioned &#8220;Ucommune Group Holdings Limited Reconciliation of GAAP and Non-GAAP Results&#8221; below. <\/li>\n<li>\n          <b>EBITDA loss margin<\/b> was 52%, compared with 55% in the first nine months of 2019. <\/li>\n<li>\n          <b>Adjusted<\/b><br \/>\n          <b>EBITDA<\/b> loss (Non-GAAP) was <span class=\"xn-money\">RMB145.7 million<\/span> (<span class=\"xn-money\">US$21.5 million<\/span>), compared with <span class=\"xn-money\">RMB230.7 million<\/span> in the first nine months of 2019. For a reconciliation of adjusted EBITDA to net loss, see the &#8220;Non-GAAP Financial Measures&#8221; section and the table captioned &#8220;Ucommune Group Holdings Limited Reconciliation of GAAP and Non-GAAP Results&#8221; below. <\/li>\n<li>\n          <b>Adjusted<\/b><br \/>\n          <b>EBITDA loss margin<\/b> was 24%, compared with 26% in the first nine months of 2019. <\/li>\n<li>\n          <b>Adjusted net loss<\/b> (Non-GAAP) was <span class=\"xn-money\">RMB278.8 million<\/span> (<span class=\"xn-money\">US$41.1 million<\/span>), compared with <span class=\"xn-money\">RMB343.1 million<\/span> in the first nine months of 2019. For a reconciliation of adjusted net loss to net loss, see the &#8220;Non-GAAP Financial Measures&#8221; section and the table captioned &#8220;Ucommune Group Holdings Limited Reconciliation of GAAP and Non-GAAP Results&#8221; below.<\/li>\n<\/ul>\n<p>\n        <b>Operating Highlights of the First Nine Months of 2020 <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>As of <span class=\"xn-chron\">September 30, 2020<\/span>, Ucommune Group had 222 office spaces in 51 cities, among which 158 spaces were in operation, providing approximately 58,000 workstations to Ucommune Group&#8217;s 860,400 members. <\/li>\n<li>As of <span class=\"xn-chron\">September 30, 2020<\/span>, under Ucommune Group&#8217;s asset light-model, the Company&#8217;s total number of spaces under contract increased by 126% to 106 from 47 as of <span class=\"xn-chron\">December 31, 2019<\/span>, while its total managed area under contract contractual increased by 59% to 272,900 square meters from 171,200 square meters as of <span class=\"xn-chron\">December 31, 2019<\/span>.<sup><span id=\"spanHghltd2be\">1<\/span><\/sup><span \/><span \/><span \/><\/li>\n<\/ul>\n<p>\n        <span><br \/>\n          <sup>_______________________________<br \/>1 <\/sup>Spaces and managed areas under contract include those in operation, under construction, and in preparation for construction.<\/span>\n      <\/p>\n<p>Dr. <span class=\"xn-person\">Daqing Mao<\/span>, Founder of Ucommune Group, commented, &#8220;Despite the various challenges faced by our industry in 2020, we limited the impact of these challenges on our operations. At the end of 2019, we decided to transition our business towards an asset-light model, and the rapid spread of the pandemic since that time has only accelerated our business transformation. During the first three quarters of 2020, we proactively closed office spaces that negatively impacted our cash flows and re-allocated our resources to business segments capable of accelerating our progress to profitability. Consequently, our workspace membership services revenues declined by only 18% year over year, while our EBITDA loss narrowed by more than 35% during the nine months period. Meanwhile, many of our corporate clients faced economic uncertainties and thus chose to reduce their advertising budgets, which negatively affected our marketing and branding services revenues. Nevertheless, as <span class=\"xn-location\">China<\/span> continues to embark on its economic recovery, we are now seeing businesses gradually return to the old norm of working in offices, and our workspace occupancy rate and unit space revenue should improve accordingly. As a publicly traded company, we plan to improve our business through innovation, diversify our revenue streams, manage our expenditures, and generate quality returns for our shareholders over the long run. We have witnessed early success from our internally developed SAAS management platform for office buildings and industrial parks. Under this platform, services such as lease contract management, CRM promotion management, IOT intelligent device management, member operation management and asset management have enhanced the value of properties managed by Ucommune Group.&#8221;<\/p>\n<p>Mr. <span class=\"xn-person\">Cheong Kwok Mun<\/span>, Chief Financial Officer of Ucommune Group, added, &#8220;Our strategic\u00a0transformation towards an asset-light business model has helped us mitigate the negative impact from COVID-19, as evidenced by our less-than-expected revenue decline and faster-than-expected margin improvement. As we redirect more of our resources towards managing our workspace profitability and prudently controlling our expenses, we are confident that we are well on our way towards profitability and positive cash flow in the coming years. \u00a0Looking ahead, we are confident that our asset-light business model, market leadership in agile office space management, and capital markets access should pave the way towards a sustainable, measured, and profitable growth trajectory.&#8221;<\/p>\n<p>\n        <b>First Nine Months of 2020 Unaudited Financial Results<\/b>\n      <\/p>\n<p>\n        <b>Total net revenues <\/b>were <span class=\"xn-money\">RMB598.5 million<\/span> (<span class=\"xn-money\">US$88.1 million<\/span>)\u00a0in the first nine months of\u00a02020,\u00a0representing a decrease of 32% from <span class=\"xn-money\">RMB874.6 million<\/span> in the first nine months of\u00a02019. Revenues from the asset light-model were <span class=\"xn-money\">RMB26.3 million<\/span> (<span class=\"xn-money\">US$3.9 million<\/span>)\u00a0in the first nine months of\u00a02020,\u00a0representing an increase of 79% from <span class=\"xn-money\">RMB14.7 million<\/span> in the first nine months of\u00a02019.<\/p>\n<ul type=\"disc\">\n<li>\n          <i>Workspace membership<span id=\"spanHghlt2f71\">\u00a0<\/span>services revenues<\/i> were <span class=\"xn-money\">RMB346.2 million<\/span> (<span class=\"xn-money\">US$51.0 million<\/span>) in the first nine months of 2020, representing a decrease of 18% from <span class=\"xn-money\">RMB419.6 million<\/span> in the first nine months of 2019. This decrease was mainly due to the decreased number of spaces in operation and the contraction of the Company&#8217;s co-working space services, primarily caused by the outbreak of COVID-19 in the first nine months of 2020. Nevertheless, as a result of <span class=\"xn-location\">China&#8217;s<\/span> early success in containing the COVID-19 epidemic and the Company&#8217;s improved operating efficiency, the Company has achieved significant transformational improvements since the third quarter of 2020, particularly in terms of occupancy rates and unit space revenue. <\/li>\n<li>\n          <i>Marketing and branding services<span id=\"spanHghlt861e\">\u00a0<\/span>revenues<\/i> were <span class=\"xn-money\">RMB207.4 million<\/span> (<span class=\"xn-money\">US$30.5 million<\/span>) in the first nine months of 2020, representing a decrease of 49% from <span class=\"xn-money\">RMB403.5 million<\/span> in the first nine months of 2019, mainly due to decreased demand for advertising and marketing services in the first nine months of 2020. <\/li>\n<li>\n          <i>Other services revenues<\/i> were <span class=\"xn-money\">RMB45.0 million<\/span> (<span class=\"xn-money\">US$6.6 million<\/span>) in the first nine months of 2020, representing a decrease of 13% from <span class=\"xn-money\">RMB51.5 million<\/span> in the first nine months of 2019, primarily due to the decrease in net revenue generated from the Company&#8217;s interior design and construction services, resulting from the suspension of design and construction services caused by COVID-19. <\/li>\n<\/ul>\n<p>\n        <b>Total costs of revenues <\/b>were <span class=\"xn-money\">RMB682<\/span>.8\u00a0million (<span class=\"xn-money\">US$100.6 million<\/span>)\u00a0in the first nine months of\u00a02020,\u00a0representing a decrease of 33% from <span class=\"xn-money\">RMB1,017.4 million<\/span> in the first nine months of\u00a02019.\u00a0Costs of revenues from the asset light-model were <span class=\"xn-money\">RMB17<\/span>.6\u00a0million (<span class=\"xn-money\">US$2.6 million<\/span>)\u00a0in the first nine months of\u00a02020,\u00a0representing an increase of 83% from <span class=\"xn-money\">RMB9.6 million<\/span> in the first nine months of\u00a02019.<\/p>\n<ul type=\"disc\">\n<li>\n          <i>Costs of workspace membership<\/i> were <span class=\"xn-money\">RMB446.5 million<\/span> (<span class=\"xn-money\">US$65.8 million<\/span> ) in the first nine months of 2020, representing a decrease of 26% from <span class=\"xn-money\">RMB605.2 million<\/span> in the first nine months of 2019, mainly due to decreased operational costs related to leases as well as decreased costs for property services and staff. <\/li>\n<li>\n          <i>Costs of<\/i><br \/>\n          <i>marketing and branding services<\/i> were <span class=\"xn-money\">RMB189.1 million<\/span> (<span class=\"xn-money\">US$27.8 million<\/span>) in the first nine months of 2020, representing a decrease of 48% from <span class=\"xn-money\">RMB364.4 million<\/span> in the first nine months of 2019, mainly due to decreased advertising costs, which was in line with the decrease in advertising revenue. <\/li>\n<li>\n          <i>Costs of other services<\/i> were <span class=\"xn-money\">RMB47.2 million<\/span> (<span class=\"xn-money\">US$7.0 million<\/span>) in the first nine months of 2020, representing a decrease of 1% from <span class=\"xn-money\">RMB47.7 million<\/span> in the first nine months of 2019, mainly due to decreased staff costs.<\/li>\n<\/ul>\n<p>\n        <b>General and administrative expenses <\/b>were <span class=\"xn-money\">RMB87.2 million<\/span> (<span class=\"xn-money\">US$12.8 million<\/span>)\u00a0in the first nine months of\u00a02020, representing a decrease of 32% from <span class=\"xn-money\">RMB128.8 million<\/span> in the first nine months of\u00a02019, mainly as a result of decreased staff costs as Ucommune Group optimized its staff structure and reduced its general and administrative personnel to increase operational efficiency, and lower professional service fees.<\/p>\n<p>\n        <b>Sales and marketing expenses <\/b>were <span class=\"xn-money\">RMB22<\/span>.9\u00a0million (<span class=\"xn-money\">US$3.4 million<\/span>)\u00a0in the first nine months of\u00a02020, representing a decrease of 53% from <span class=\"xn-money\">RMB48.3 million<\/span> in the first nine months of\u00a02019, mainly as the result of the reduction in staff costs as well as promotion-related cost control measures, which were<b>\u00a0<\/b>in line with the Company&#8217;s reduced spaces due to the negative impact of COVID-19.<\/p>\n<p>\n        <b>Impairment loss on long-lived assets <\/b>was <span class=\"xn-money\">RMB33<\/span>.5\u00a0million (<span class=\"xn-money\">US$4.9 million<\/span> )\u00a0in the first nine months of\u00a02020, representing a decrease of 27% from <span class=\"xn-money\">RMB46.1 million<\/span> in the first nine months of\u00a02019, primarily\u00a0due\u00a0to lower impairment of those spaces where the carrying value is not expected to be fully recoverable.<b>\u00a0<\/b><\/p>\n<p>\n        <b>Pre-opening expenses<\/b>\u00a0were nil in the first nine months of\u00a02020, representing a decrease of 100% from <span class=\"xn-money\">RMB14.1 million<\/span> in the first nine months of\u00a02019, mainly as the result of <span id=\"spanHghlteab2\">the<\/span> Company&#8217;s temporary\u00a0slowdown in co-working space expansion.<\/p>\n<p>\n        <b>Loss from operations <\/b>was <span class=\"xn-money\">RMB227.9 million<\/span> (<span class=\"xn-money\">US$33.6 million<\/span>) in the first nine months of 2020, representing a decrease of 59% from <span class=\"xn-money\">RMB559.3 million<\/span> in the first nine months of 2019.<\/p>\n<p>\n        <b>Other expenses, net <\/b>were <span class=\"xn-money\">RMB84<\/span>.2\u00a0million (<span class=\"xn-money\">US$12.4 million<\/span>)\u00a0in the first nine months of\u00a02020, representing an increase of 311% from <span class=\"xn-money\">RMB20.5 million<\/span> in the first nine months of\u00a02019, mainly due to loss resulting from the Company&#8217;s disposal of spaces.<\/p>\n<p>\n        <b>Net loss <\/b>was <span class=\"xn-money\">RMB358.8 million<\/span> (<span class=\"xn-money\">US$52.8 million<\/span>)\u00a0in the first nine months of\u00a02020, representing a decrease of 37% from <span class=\"xn-money\">RMB570.7 million<\/span> in the first nine months of\u00a02019.<\/p>\n<p>\n        <b>Basic and diluted net loss per share<\/b>\u00a0were both <span class=\"xn-money\">RMB2.61<\/span> (<span class=\"xn-money\">US$0.39<\/span>)\u00a0in the first nine months of\u00a02020, representing a decrease of 55% from <span class=\"xn-money\">RMB5.84<\/span> in the first nine months of\u00a02019,\u00a0mainly as the result of lower net loss and an increase in weighted average shares outstanding.<\/p>\n<p>\n        <b>Cash, cash equivalents and restricted cash\u00a0<\/b>were <span class=\"xn-money\">RMB112.4 million<\/span> (<span class=\"xn-money\">US$16.6 million<\/span>)\u00a0as of <span class=\"xn-chron\">September 30, 2020<\/span>, representing a decrease of 43% from <span class=\"xn-money\">RMB196.3 million<\/span> as of\u00a0December 31, 2019,\u00a0primarily due to the repayment of loans.<\/p>\n<p>\n        <b>Net cash used in operating activities <\/b>was <span class=\"xn-money\">RMB2.3 million<\/span> (<span class=\"xn-money\">US$0.4 million<\/span>), representing a decrease of 99% from <span class=\"xn-money\">RMB231.6<\/span> million\u00a0in the first nine months of\u00a02019, mainly due to decreased cash used for leased facilities as a result of the Company&#8217;s temporary slowdown in co-working space expansion.<b>\u00a0<\/b><\/p>\n<p>\n        <b>Business Outlook<\/b>\n      <\/p>\n<p>For the full year of 2020, the Company expects net revenues to be in the range of <span class=\"xn-money\">RMB850 million<\/span> to <span class=\"xn-money\">RMB870 million<\/span>. The forecast reflects the Company&#8217;s current and preliminary views on the market and its operational conditions, which are subject to change.<\/p>\n<p>\n        <b>Recent Developments<\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">November 17, 2020<\/span>, Ucommune International consummated its previously announced business combination, which resulted in Ucommune Group being a wholly owned subsidiary of Ucommune International.<\/p>\n<p>In connection with the closing of the Company&#8217;s business combination, as of <span class=\"xn-chron\">November 18, 2020<\/span>, certain backstop investors had invested an aggregate amount of <span class=\"xn-money\">$68.0 million<\/span> pursuant to backstop agreements, including an aggregate investment of <span class=\"xn-money\">$60.9 million<\/span> in a PIPE financing. <\/p>\n<p>As of <span class=\"xn-chron\">November 25<\/span>, there were 80,451,843 ordinary shares outstanding, consisting of 70,999,436 Class A ordinary shares and 9,452,407 Class B ordinary shares. The Class A ordinary shares and warrants of the Company are trading on The Nasdaq Stock Market under the symbols &#8220;UK&#8221; and &#8220;UKOMW,&#8221; respectively.<\/p>\n<p>\n        <b>About Ucommune International Ltd.<\/b>\n      <\/p>\n<p>Ucommune International is <span class=\"xn-location\">China&#8217;s<\/span> leading agile office space manager and provider. Founded in 2015, Ucommune International has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout <span class=\"xn-location\">China<\/span> to empower its members with flexible and cost-efficient office space solutions. Ucommune International&#8217;s various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune International operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in <span class=\"xn-location\">China<\/span>.<\/p>\n<p>\n        <b>Exchange Rate Information<\/b>\n      <\/p>\n<p>This announcement contains translations of certain RMB amounts into U.S. dollars (&#8220;US$&#8221;) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of <span class=\"xn-money\">RMB6.7896<\/span> to <span class=\"xn-money\">US$1.00<\/span>, the exchange rate on <span class=\"xn-chron\">September 30, 2020<\/span>, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.<\/p>\n<p>\n        <b>Statement Regarding Preliminary Unaudited Financial Information <\/b>\n      <\/p>\n<p>The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments.\u00a0Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company&#8217;s\u00a0year-end audit, which could result in significant differences from this preliminary unaudited financial information.<\/p>\n<p>\n        <b>Safe Harbor Statements \u00a0<\/b>\n      <\/p>\n<p>This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;ongoing,&#8221; &#8220;targets,&#8221; &#8220;guidance&#8221; and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company&#8217;s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in <span class=\"xn-location\">China&#8217;s<\/span> e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of <span class=\"xn-location\">China&#8217;s<\/span> e-commerce market; PRC governmental policies and regulations relating to the Company&#8217;s industry, and general economic and business conditions globally and in <span class=\"xn-location\">China<\/span> and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company&#8217;s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p>\n        <b>Non-GAAP Financial Measures<\/b>\n      <\/p>\n<p>To supplement the Company&#8217;s combined and consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Ucommune Group uses the following non-GAAP financial measures for Ucommune Group&#8217;s combined and consolidated results: EBITDA (including EBITDA margin), adjusted EBITDA (including adjusted EBITDA margin) and adjusted net loss.\u00a0The Company believes that EBITDA,\u00a0adjusted EBITDA and adjusted net loss help understand and evaluate the Company&#8217;s core operating performance.<\/p>\n<p>EBITDA, adjusted EBITDA and adjusted net loss are presented to enhance investors&#8217; overall understanding of the Company&#8217;s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to its most directly comparable GAAP financial measures. As EBITDA, adjusted EBITDA and adjusted net loss have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. <\/p>\n<p>In light of the foregoing limitations, you should not consider EBITDA, adjusted EBITDA and adjusted net loss as substitutes for, or superior to, net loss prepared in accordance with GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure. For more information on these non-GAAP financial measures, please see the table captioned &#8220;Ucommune Group Holdings Limited Reconciliation of GAAP and Non-GAAP Results&#8221; near the end of this release.<\/p>\n<p>EBITDA represents net loss before interest income, interest expense, provision for income taxes, depreciation of property and equipment and amortization of intangible assets.<\/p>\n<p>Adjusted EBITDA represents net loss before (i) interest income, interest expense, other expense, net, provision for income taxes and loss on disposal of subsidiaries and (ii)\u00a0certain non-cash expenses, consisting of\u00a0impairment loss on long-term investments. impairment loss on long-lived assets, depreciation of property and equipment, amortization of intangible assets and change in fair value of liabilities to be settled in shares, which we do not believe are reflective of our core operating performance during the periods presented.<\/p>\n<p>Adjusted net loss represents net loss before impairment loss on long-lived assets, impairment loss on long-term investments, change in fair value of liabilities to be settled in shares and loss on disposal of subsidiaries.<\/p>\n<p>\n        <b>For investor and media inquiries, please contact:<\/b>\n      <\/p>\n<p>Ucommune International Ltd.<br \/><a target=\"_blank\" href=\"mailto:ir@ucommune.com\" rel=\"nofollow noopener noreferrer\">ir@ucommune.com<\/a> \u00a0 <\/p>\n<p>ICR, LLC.<br \/><span class=\"xn-person\">Sharon Zhou<\/span><br \/><a target=\"_blank\" href=\"mailto:ucommune@icrinc.com\" rel=\"nofollow noopener noreferrer\">ucommune@icrinc.com<\/a><br \/>+1 (212) 537-3847<\/p>\n<p>\u00a0<\/p>\n<p class=\"prntac\">\n        <b>FINANCIAL STATEMENTS<br \/>UCOMMUNE GROUP HOLDINGS LIMITED<br \/>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<br \/>(Amounts in thousands of RMB and USD, except for number of shares)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of December 31, 2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of September 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntar prnpl6 prnsblb0 prnpr6\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ASSETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current assets:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Cash and cash equivalents <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">175,774<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,607<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,198<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Term deposits <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,715<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,950<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,326<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Short-term investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,930<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,114<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts receivable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86,200<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">66,369<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,775<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">135,830<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">169,277<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,933<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Amounts due from related parties, current <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,611<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,052<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,573<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Held-for-sale asset <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">356,233<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total current assets <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>886,293<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>413,605<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>60,919<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Restricted cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,527<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,777<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,355<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Long-term investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,329<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79,768<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,749<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Property and equipment, net <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">567,844<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">387,864<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,126<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Right-of-use assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,851,729<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,299,685<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">191,423<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,105<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,038<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Goodwill\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,533,485<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,533,485<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">225,858<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Rental deposit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">98,486<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">76,507<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,268<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Long-term prepaid expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">116,363<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">116,173<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,110<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Amounts due from related parties, non-current<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">884<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">544<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other assets, non-current<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">185<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">120,318<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,721<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total non-current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,258,937<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,671,325<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>540,728<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL ASSETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,145,230<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,084,930<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen1\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>601,647<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p class=\"prntac\">\n        <b>UCOMMUNE GROUP HOLDINGS LIMITED<br \/>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<span id=\"spanHghlt16b9\">\u00a0<\/span>&#8211; continued<br \/>(Amounts in thousands of RMB and USD, except for number of shares)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of December 31, 2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of September 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnmr8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>LIABILITIES AND SHAREHOLDERS&#8217; EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Short-term borrowings <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">138,647<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86,276<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,707<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Long-term borrowings, current portion <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,390<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,018<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,328<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325,682<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">235,294<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,655<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accrued expenses and other current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">276,577<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">254,330<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,459<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Amounts due to related parties, current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,251<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">77,537<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,420<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Advance workspace membership fee<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">99,226<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63,057<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,287<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Contract liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,875<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,690<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,164<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Income taxes payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,170<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">172<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred subsidy income <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,974<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,919<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,314<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Convertible bond<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,762<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Held-for-sale liabilities <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,514<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Lease liabilities, current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">589,467<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">588,375<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86,658<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,625,690<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,338,666<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>197,164<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Long-term borrowings <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,707<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,050<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Refundable deposits from members, non-current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,308<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,008<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,094<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred tax liabilities <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,427<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,985<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">292<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Lease liabilities, non-current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,393,691<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">959,092<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">141,259<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total non-current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,415,426<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,002,792<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>147,695<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL LIABILITIES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,041,116<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,341,458<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>344,859<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>SHAREHOLDERS&#8217; EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ordinary shares <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">92<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">92<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Subscription receivable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(87)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(78)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Additional paid-in capital <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,645,708<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,645,708<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">536,955<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Statutory reserves<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,827<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,827<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">564<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated deficit <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,750,475)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,093,781)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(308,381)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated other comprehensive (loss)\u00a0income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(926)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">112<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Ucommune Group Holdings Limited <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,898,139<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,555,880<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>229,159<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Noncontrolling interests <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">205,975<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">187,592<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,629<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,104,114<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,743,472<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>256,788<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,145,230<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,084,930<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>601,647<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p class=\"prntac\">\n        <b>UCOMMUNE GROUP HOLDINGS LIMITED<br \/>UNAUDITED CONDENSED COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of RMB and USD, except for number of shares and per share data)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Nine\u00a0Months Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Workspace membership revenue\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">419,634<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">346,162<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">50,984<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Marketing and branding service revenue <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">403,484<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">207,357<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,540<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other service revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51,451<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,957<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,621<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total revenue\u00a0 <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>874,569<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>598,476<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>88,145<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of revenue:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Workspace membership <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(605,190)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(446,526)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(65,766)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Marketing and branding service <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(364,442)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(189,077)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(27,848)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other services\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,722)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,222)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,955)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total cost of revenue <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1,017,354)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(682,825)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(100,569)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment loss on long-lived assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(46,122)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(33,457)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,928)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Pre-opening expenses\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,148)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Sales and marketing expenses\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(48,344)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22,853)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,366)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(128,836)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(87,220)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,846)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Remeasurement gain of previously held equity interests in connection with step acquisitions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">386<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Change in fair value of advance for equity interests subscription<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(179,475)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Loss from operations<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(559,324)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(227,879)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(33,564)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,901<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,233<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">623<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,960)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,962)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,204)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Subsidy income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,521<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,706<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,871<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on long-term investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,000)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,507)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(517)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposal of subsidiaries<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43,032)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,338)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other expense, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(20,469)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(84,176)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,398)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss before income taxes and loss from equity <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 method investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(564,331)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(356,617)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,527)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provision for income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,780)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,330)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(343)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Loss)\/gain from equity method investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,600)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">144<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss\u00a0 <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(570,711)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(358,803)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(52,849)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Net loss attributable to noncontrolling interests <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18,763)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,497)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,282)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss attributable to Ucommune Group Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(551,948)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(343,306)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(50,567)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss per share attributable to ordinary shareholders of Ucommune Group Holdings Limited<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211; Basic <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5.84)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.61)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.39)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211; Diluted<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5.84)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.61)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.39)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares used in calculating net loss per share<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211; Basic <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94,434,484<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">131,312,984<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">131,312,984<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211; Diluted<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94,434,484<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">131,312,984<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">131,312,984<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p class=\"prntac\">\n        <b>UCOMMUNE GROUP HOLDINGS LIMITED<br \/>UNAUDITED CONDENSED COMBINED AND CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS <br \/>(Amounts in thousands of RMB and USD, except for number of shares and per share data)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prnvab prnsbbs prntac prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Nine Months Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(570,711)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(358,803)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,849)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other comprehensive loss, net of tax<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency translation adjustments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,220)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,039<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">153<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(572,931)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(357,764)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,696)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Comprehensive loss attributable to noncontrolling interest<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18,793)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,496)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,282)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Comprehensive loss attributable to Ucommune Group Holdings<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 Limited&#8217;s shareholders<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(554,138)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(342,268)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(50,414)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p class=\"prntac\">\n        <b>UCOMMUNE GROUP HOLDINGS LIMITED<br \/>RECONCILIATION OF GAAP AND NON-GAAP RESULTS<br \/>(Amounts in thousands of RMB and USD, except for number of shares and per share data)<\/b>\n      <\/p>\n<p>The following table sets forth a reconciliation of net loss\u00a0to EBITDA and adjusted EBITDA for the periods indicated:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Nine Months<br \/>Ended September\u00a030,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(570,711)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(358,803)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,849)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,901)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,233)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(623)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,960<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,962<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,204<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provision for income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,780<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,330<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">343<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78,637<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,567<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,514<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,907<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">723<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>EBITDA (non-GAAP)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(478,721)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(309,828)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45,635)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on long-lived assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">46,122<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,457<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,928<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in fair value of liabilities to be settled in shares<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">179,475<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on long-term investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,507<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">517<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposal of subsidiaries<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,032<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,338<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other expense, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,469<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">84,176<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,398<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted EBITDA (non-GAAP)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(230,655)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(145,656)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(21,454)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>The table below sets forth a reconciliation of net loss to adjusted net loss for the periods indicated:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Nine Months<br \/>Ended September\u00a030,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(570,711)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(358,803)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen1\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,849)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on long-lived assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">46,122<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,457<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,928<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in fair value of liabilities to be settled in shares<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">179,475<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on long-term investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,507<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">517<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposal of subsidiaries<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,032<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,338<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted net loss (non-GAAP)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(343,114)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(278,807)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(41,066)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited-301198259.html\">http:\/\/www.prnewswire.com\/news-releases\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited-301198259.html<\/a><\/p>\n<p>SOURCE  Ucommune International Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN32782&amp;Transmission_Id=202012231630PR_NEWS_USPR_____CN32782&amp;DateId=20201223\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BEIJING, Dec. 23, 2020 \/PRNewswire\/ &#8212; Ucommune International Ltd. (NASDAQ: UK) (&#8220;Ucommune International&#8221;),\u00a0today announced the unaudited financial results of its acquired company, Ucommune Group Holdings Limited (&#8220;Ucommune Group&#8221; or the &#8220;Company&#8221;), a leading agile office space manager and provider in China, for the first nine months ended September 30, 2020. The information provided in this release solely represents the historical financial information of Ucommune Group prior to its closing of the business combination with Ucommune International on November 17, 2020. Financial Highlights of the First Nine Months of 2020\u00a0 Net revenues were RMB598.5 million (US$88.1 million), compared with RMB874.6 million in the first nine months of 2019. Operating loss margin was 38%, compared with 64% in the first &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-405350","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BEIJING, Dec. 23, 2020 \/PRNewswire\/ &#8212; Ucommune International Ltd. (NASDAQ: UK) (&#8220;Ucommune International&#8221;),\u00a0today announced the unaudited financial results of its acquired company, Ucommune Group Holdings Limited (&#8220;Ucommune Group&#8221; or the &#8220;Company&#8221;), a leading agile office space manager and provider in China, for the first nine months ended September 30, 2020. The information provided in this release solely represents the historical financial information of Ucommune Group prior to its closing of the business combination with Ucommune International on November 17, 2020. Financial Highlights of the First Nine Months of 2020\u00a0 Net revenues were RMB598.5 million (US$88.1 million), compared with RMB874.6 million in the first nine months of 2019. Operating loss margin was 38%, compared with 64% in the first &hellip; Continue reading &quot;Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T21:33:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"18 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited\",\"datePublished\":\"2020-12-23T21:33:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/\"},\"wordCount\":3517,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN32782&amp;sd=2020-12-23\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/\",\"name\":\"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN32782&amp;sd=2020-12-23\",\"datePublished\":\"2020-12-23T21:33:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#primaryimage\",\"url\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN32782&amp;sd=2020-12-23\",\"contentUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN32782&amp;sd=2020-12-23\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/","og_locale":"en_US","og_type":"article","og_title":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk","og_description":"PR Newswire BEIJING, Dec. 23, 2020 \/PRNewswire\/ &#8212; Ucommune International Ltd. (NASDAQ: UK) (&#8220;Ucommune International&#8221;),\u00a0today announced the unaudited financial results of its acquired company, Ucommune Group Holdings Limited (&#8220;Ucommune Group&#8221; or the &#8220;Company&#8221;), a leading agile office space manager and provider in China, for the first nine months ended September 30, 2020. The information provided in this release solely represents the historical financial information of Ucommune Group prior to its closing of the business combination with Ucommune International on November 17, 2020. Financial Highlights of the First Nine Months of 2020\u00a0 Net revenues were RMB598.5 million (US$88.1 million), compared with RMB874.6 million in the first nine months of 2019. Operating loss margin was 38%, compared with 64% in the first &hellip; Continue reading \"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-23T21:33:23+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"18 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited","datePublished":"2020-12-23T21:33:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/"},"wordCount":3517,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/","name":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23","datePublished":"2020-12-23T21:33:23+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#primaryimage","url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23","contentUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN32782&amp;sd=2020-12-23"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ucommune-international-ltd-reports-first-nine-months-of-2020-unaudited-financial-results-of-ucommune-group-holdings-limited\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Ucommune International Ltd. Reports First Nine Months of 2020 Unaudited Financial Results of Ucommune Group Holdings Limited"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/405350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=405350"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/405350\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=405350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=405350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=405350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}