Pinwan, August 8, Ruixing Coffee’s total net revenue in the second quarter was 3.2987 billion yuan (about 493.2 million US dollars), an increase of 72.4% compared with 1.9137 billion yuan in the same period last year. Net loss in the second quarter was 114.7 million yuan ($17.2 million), including 276.8 million yuan ($41.4 million) for equity litigants, highlighting the company’s significant progress in resolving litigation, and 10.18 billion yuan (approximately $15.2 million) in income tax expenses, while net profit in the second quarter of 2021 was $21 million. Non-GAAP net profit in the second quarter was 267.5 million yuan (approximately $40 million), compared with 92 million yuan in the second quarter of 2021.
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