The financial report shows that in the third quarter of fiscal year 2020, the total revenue of Mushroom Street was 2.695 billion yuan (about 38.7 million US dollars), which was 26% lower than the 367.2 million yuan in the same period of fiscal year 20 19. Compared with 20 19, the net loss of 6% is163.46 million yuan (about 234.8 million US dollars).
Against the background of the third fuse of US stocks and the collective decline of China Stock Exchange, as of the close of US stocks 12 in March, the share price of Mushroom Street fell by 29%.7% to close at $65,438 +0. 16, with a total market value of $65,438+0.24 billion, down 90% from the initial listing.
HelenWu, chief financial officer of Mushroom Street, said in the financial report that the decline in total revenue in the third quarter was mainly due to the decline in commission income and marketing service income, but her live broadcast business and related commission income maintained strong growth, accounting for more than half of the total revenue.
According to the financial report data, the commission income of Mushroom Street in the third quarter of fiscal year 2020 was1.41.200 million yuan (US$ 20.3 million), which was 1.756 million yuan lower than that of fiscal year 2065438, and the marketing service income was 72.5 million yuan, which was higher than 201.
With regard to the current changes in revenue structure and the decline in commission and revenue services, the financial report explains the company's strategic adjustment, concentrates a lot of resources on developing broadcasting business, and accelerates the optimization and upgrading of industry structure from the second half of 20 19. The marketing service expenditure of the long tail industry decreased, and the commission income brought by the live broadcast business increased. However, the relaxation of some market businesses offset this part of the commission rate. Mushroom Street was founded on 20 1 1, starting from the community and turning to the guidance business of electronic commerce. However, with the tightening of Taobao's guiding platform policy, its income source mainly depends on commission and marketing services. Since its listing for one year, its operating losses have been expanding, and it faces the dual pressures of profit and growth.
Since allin broadcast was announced last year, its business structure has changed significantly. P2K2C(P: Mushroom Street, K:KOL, C: Consumer) mode is put forward to seize the outlet of broadcasting appliances, break through the bottleneck of development and improve market confidence.
The financial report shows that in the third quarter of fiscal year 2020, the total GMV of Mushroom Street was 6.299 billion yuan, an increase of 8% over the previous year, of which the GMV of live broadcast business increased by 99. 5%, reaching 3.352 billion yuan, accounting for more than 53% of GMV. 2%, rising to 20 19 12 365438. Active buyers of live broadcasts increased by 32%.4% to 3.2 million compared with the previous year. In terms of announcer operation and supply chain, Mushroom Street adds about 5,000 announcers and 2,000 live broadcast commodity suppliers every quarter. Judging from the above data, the transformation of Mushroom Street Live Electrical Appliances has made some progress, and its market share and marketing contribution will be further expanded in the future.
However, it is worth noting that the reform of single business has grown rapidly, and the overall number of active buyers in Mushroom Street has not improved, but is still declining. According to the financial report, as of 2065,438+09,365,438+02,365,438+0, the number of active buyers in Mushroom Street in the past 65,438+02 months was 26.6 million, down 22% from the same period last year.
On the other hand, the competition among the manufacturers of live broadcast appliances is becoming more and more fierce. In addition to Taobao, JD.COM, Pinyin and other head platforms, Aauto Quicker and vibrato also began to test water electrical appliance manufacturers from 20 18, and quickly opened the live broadcast market through short video traffic, with a large increase in sales. Since last year, in addition to planting grass in the community, the little red book has also begun to exert its strength in live broadcast.
Now is the live reconstruction stage. Broadcasters and upstream and downstream resources in the industrial chain need to be further integrated, and relatively unified standards are needed to coordinate the division of labor and contact between industry roles, standardize the industry, and improve the overall efficiency and quality. Mo Daiqing, an analyst with Social Electrical Appliances Company, said: Live broadcast of electrical appliances companies has become a new way of platform competition for major electrical appliances companies, such as Taobao, JD.COM, Mushroom Street and Aauto Quicker. The future of e-commerce live broadcast will be more and more differentiated because of traffic, and everyone will.
In fact, with the disappearance of network dividends, e-commerce platforms have accelerated the expansion of customer channels and the acquisition of low-cost traffic, whether it is business sinking or model innovation. From this point of view, breaking through the business ceiling and user growth are all problems faced by the industry, but the original traffic base of Mushroom Street is not large enough, and the competitive advantage is not obvious under the enthusiasm of live e-commerce.
On the other hand, in order to ensure the transformation effect of live broadcast appliances, in addition to product control and appropriate KOL, sufficient platform traffic is also a prerequisite, and live broadcast itself is not a form of drainage. While the overall active buyers are still declining, the dependence of mushrooms on live broadcast business is gradually deepening, but there are still many competitors and challenges to build core competitiveness, optimize income structure and reverse long-term deficit through live broadcast business.
In addition, the persistence of the epidemic has also had a certain impact on the development of the platform, and enterprises need to adjust and respond in the short term.
Qi Chen, Chairman and CEO of Mushroom Street, said in the financial report that the influence of COVID-19's popularity has increased the uncertainty of business, and the announcer, supply chain and logistics have not fully recovered, which has had an impact on the recent performance. However, the company continued to promote the live broadcast strategy, adding more than 500 partners in the past month and a half, and further expanding the sales scope.