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Ruhnn Announces Fourth Quarter and Full Fiscal Year 2020 Unaudited Financial Results

HANGZHOU, China, June 03, 2020 (GLOBE NEWSWIRE) -- Ruhnn Holding Limited (a??Ruhnna?? or the a??Companya??) (NASDAQ: RUHN), a leading internet key opinion leader (a??KOLa??) facilitator in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended March 31, 2020.
a??We capped off a year of strong overall operational and financial performance for the full fiscal year 2020, despite the impact of Covid-19 pandemic in China during the fourth quarter, a historically slower seasonal quarter for our business. We continued solidifying the foundation for the Companya??s long-term sustainable business development through improving operational efficiency and profitability, in addition to the rapid growth in total net revenue, particularly through services revenue, which achieved over 100% year-over-year growth in the fiscal year 2020. E-commerce live-streaming has also emerged as an important monetization channel under the platform model,a?? Mr. Lei Sun, founder, director and Chief Executive Officer of Ruhnn, commented.a??Entering fiscal year 2021, we will continue strengthening our leading KOL incubation and transaction platform in China, by expanding and enhancing our KOL pool and covered fans on major social media platforms, while exploring and further developing KOL monetization channels, to serve more KOLs and brands. We will also actively pursue acquisition opportunities that fit within our business strategy,a?? Mr. Sun concluded.a??We are well positioned to achieve profitability for the full fiscal year 2021 on a non-GAAP basis, building on a successful fiscal year 2020, in which we managed to achieve our fiscal year 2020 revenue target, narrow non-GAAP adjusted net loss attributable to Ruhnn significantly by 81% year-over-year, and generate a positive net cash provided by operating activities,a?? Mr. Jacky Wang, Chief Financial Officer of Ruhnn, commented.a??In addition, our recently announced share repurchase program of up to US$15.0 million reflects our confidence in the Company's business fundamentals and long-term prospects, and our commitment to enhancing shareholder value,a?? Mr. Wang added.
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