Ucommune International Ltd

Business Description

UCommune operates a nationwide agile office space network that covers economically vibrant regions, including all the tier-1 and new tier-1 cities in China.

• 234 spaces across 54 cities as of December 31, 2020, which 163 spaces were in operation, providing about 57,500 workstations to their members, and 71 spaces were under construction
• Member base increased from ~252,000 as of December 31, 2018 to ~1,044,700 as of December 31, 2020
• Cooperating with over 700 business partners and more than 30 investees

Highlights

Strong operating efficiency and chain management capabilities lead to high scalability under asset light model

Technology-driven platform

Dynamic agile office ecosystem empowering enterprise members through value added services

Diversified monetization channels enabled by expansion of member base beyond physical spaces

Visionary and innovative founder and management team

Business Model

Notes:
(1) Approximate number as of December 31, 2020, Including c.1,013,600 individual members
and 31,100 enterprise members
(2) As of December 31, 2020

Ucommune Space Offerings

Notes:
(1)Including 74 spaces in operation; as of December 31, 2020
(2)Including 6 spaces in operation; as of December 31, 2020
(3)Including 34 spaces in operation; as of December 31, 2020
(4)Available to members; as of December 31, 2020
(5)Including 23 spaces in operation, as of December 31, 2020

Technologies

Access Control System

• • Centralized management of access to spaces
  • Facial recognition, QR code and Bluetooth enabled access control technology
  • More than 50 agile office spaces equipped with facials recognition access control, and cloud-based security system cover almost all of the agile office spaces

Smart Conferencing System

• • Integrated with U Bazaar
  • Screen casting and video conferencing enabled
  • Approximately 70% of the conference rooms are equipped with smart conferencing systems

UcomOS

• • Proprietary cloud office operating system
  • Can be fully integrated with commonly used office systems and software

UDA

• • Proprietary agile office space operating system
  • Managed asset, contracts, occupancy data, conference room data, member information and profiles
  • Integrated with customer related management system and financial reporting system
  • Monitors the company’s highly scalable operation and occupancy on a real-time basis

Udata

• • Proprietary data management system for storing, cleaning and processing data
  • Utilize AI technology, including machine learning algorithms, and other data processing and statistics tools

Diversified Monetization Channels

U Space

• • Ucommune’s agile office spaces and technology-driven platform give them unique access to a large urban population with high disposable income in an office setting, providing them with significant monetization opportunities.
  • They cooperate with their business partners and investees to provide individual members with comprehensive services such as cafeterias, cafes, gyms, self-service supermarkets, vending machines, massage chairs, sleep pods, training and entertainment.

U Studio

• • Under the U Studio category, Ucommune leases small office spaces scattered in commercial office buildings, conduct moderate alterations and provide streamlined operating services to members. In China, different property owners typically own office spaces in the same office building, presenting challenges for owners of these small offices to manage their properties.

U Design

• • For members who wish to bring the Ucommune experience to their own office spaces, the Company provides an option of customizing an office space according to the specifications of their members.
  • They provide one-stop services to their members, from advisory services on location selection, design and build services, to delivery and operation services.

Asset-light Model

The asset-light model has two categories — U Brand and U Partner. Under both subcategories, the Company is responsible for operating the spaces and they can deliver their members the same quality services that they provide in U Space. As Ucommune expands into other cities and countries under the asset-light model, they can provide their members with spaces in more geographical locations.

Software-as-a-Service

Key Milestones

Management Overview

Documents

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