JMU Limited Reports Unaudited First Half of Fiscal Year 2019 Financial Results
JMU LTD ADS (JMU)
US:NASDAQ Investor Relations:
ir.ccjmu.com
Company Research
Source: PR Newswire
SHANGHAI, Aug. 1, 2019 /PRNewswire/ -- JMU Limited (the "Company" or "JMU") (Nasdaq: JMU) today announced its unaudited financial results for the six months ended June 30, 2019, or the first half of the Company's fiscal year 2019.First Half of Fiscal Year 2019 HighlightsRevenues were $762 thousand, representing a decrease of 96.1% from $19.5 million in the prior year period. The decrease was mainly due to the Company's decision to switch from its loss-making B2B platform business to other business opportunities that may have greater growth potential. Gross profit was $39 thousand, a decrease of 91.7% from $471 thousand in the prior year period. B2B online platform recorded gross billing of RMB 87.5 million (US$ 12.7 million), measured in terms of gross merchandise value ("GMV"), decreasing 98.1% from gross billing of RMB 4.6 billion (US$ 721.2 million) in the prior year period. Active customer accounts were 732 as of June 30, 2019, decreasing 92% from 10,304 as of December 31, 2018. T
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