GOGOX HOLDINGS LIMITED 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 快 狗 打 车 控 股 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股 份 代 號：2246） 董事會會議日期 快狗打车控股有限公司 主席兼執行董事 林凱源 香港，2025年8月15日 於本公告日期，執行董事為林凱源先生及何松先生；非執行董事為梁銘樞先生及胡湘成先生； 以及獨立非執行董事為鄧順林先生、趙宏強先生及朱嘉盈女士。 快狗打车控股有限公司（「本公司」，連同其附屬公司及合併聯屬實體，統稱「本 集團」）董事（「董事」）會（「董事會」）謹此宣佈，董事會會議將於2025年8月28日 （星期四）舉行，藉以（其中包括）考慮及批准本集團截至2025年6月30日止六個 月的中期業績及其發佈，並考慮派發中期股息（如有）。 承董事會命 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 快狗打车控股有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02246 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.000025 USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 2,000,000,000 | USD | | 0.000025 USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 ...

Core Viewpoint - The Chinese government is enhancing the legal rights and protections for truck drivers, who are crucial to the efficient operation of the logistics industry, through various initiatives and policies aimed at improving their working conditions and support services [1]. Group 1: Improving Working Environment - The Ministry of Transport has introduced policies to create a unified, open, and fair market environment for truck drivers, including the "Action Plan for High-Quality Development of the Road Freight Industry" and seven supporting policies [2]. - Over 12.5 million online service transactions for truck drivers were recorded in the first half of this year [2]. - The 12328 transportation service supervision hotline serves as a key channel for truck drivers to understand policies and voice complaints [2]. Group 2: Driver Support Initiatives - A special action called "Protecting Truck Drivers" has been launched, promoting mutual insurance for drivers, with over 130,000 drivers in Shandong and Henan covered [3]. - The initiative provides health insurance, legal assistance, and psychological counseling, with a maximum payout of 40,000 yuan for serious medical expenses [3]. Group 3: Enhancing Parking and Rest Facilities - The Ministry of Transport and the All-China Federation of Trade Unions are renovating 1,000 standardized highway service areas into "Driver Homes," with the first 100 completed [4]. - Renovated "Driver Homes" will offer at least 20 parking spaces, 2 shower rooms, and 24-hour services, including free basic amenities [5]. Group 4: Ensuring Fair Compensation - Major freight platforms have signed a self-regulation agreement to protect truck drivers' rights, focusing on strict cargo source audits and reducing excessive fees [7]. - The agreement includes measures to prevent low freight rates and ensure timely payment for services rendered [7]. - The freight platform Huolala is expected to reduce commission fees by 230 million yuan this year due to the new agreement [7].

Core Viewpoint - Four internet freight platforms, including Manbang Group, Huolala, Didi Delivery, and Kuaigou, signed a self-regulatory convention to protect the legal rights of truck drivers, committing to block ultra-low freight sources and ensure timely payment of freight [1][3][4]. Group 1: Self-Regulatory Commitments - The companies will implement measures such as prepayment of freight by shippers, purchasing freight compensation insurance, and ensuring timely payment to help drivers receive their earnings fully and promptly [1][3]. - They will not link driver earnings withdrawal to platform behavior metrics or delay payments to drivers [1][4]. - The platforms will publicly disclose pricing rules, reduce excessive fees and commission rates, and ensure drivers are compensated for actual mileage without deductions [1][4]. Group 2: Monitoring and Accountability - The companies will actively monitor and evaluate transportation costs to establish a mechanism to block freight sources that are significantly below cost [3][4]. - They will restrict accounts of shippers who post false freight information or maliciously delay payments, sharing a blacklist of untrustworthy shippers across platforms [3][4]. - A "sunshine action" will be continuously conducted to ensure transparency in commission practices [3][4]. Group 3: Driver Support and Communication - The platforms will ensure rapid verification and handling of complaints received through the 12328 hotline, aiming to maximize resolution rates and driver satisfaction [4]. - They will establish channels for drivers to express their needs and concerns, including driver forums and community engagements, to foster communication and resolve disputes [4]. - The companies will revise management rules regarding driver behavior and service metrics to prioritize the protection of driver rights [4].

Core Viewpoint - Kuaigou Dache in Shenzhen will eliminate the dual model of charging both membership fees and commissions, transitioning to either a zero-commission membership fee or a pure commission model without membership fees [1] Group 1: Platform Fee Structure Changes - The platform will implement a "slimming action" on its fee structure to address long-standing complaints from drivers regarding the dual charging model [1] - A new membership product priced at 199 yuan with zero commission for 30 days will be introduced, significantly reducing the current membership fee of 499 yuan [1] - The changes aim to alleviate the financial burden on drivers amid declining earnings due to falling ride prices [1] Group 2: Driver Representation and Rights - Since its establishment in 2022, the Kuaigou Dache Shenzhen Union has actively promoted a "permanent driver representative system" and provided dedicated workspaces for driver representatives [2] - The recent democratic consultation meeting included a third-party observation group comprising local representatives, union officials, and media to provide an external perspective on contentious issues [2] - The platform aims to continue promoting "platform co-governance" to ensure driver rights and enhance satisfaction among new economy workers [2]

Core Viewpoint - The company, Kuaigou Dache, is acquiring all issued share capital of Bistad Information Technology Limited for HKD 11.9226 million, aiming to enhance its AI capabilities and strategic value through this acquisition [1][2]. Group 1 - The acquisition will be paid by issuing 3.1 million shares at an agreed price [1]. - Bistad Information Technology, established in 2014, specializes in AI chatbot systems, CRM integration, and multilingual voice AI technology [1]. - The primary goal of the acquisition is to gain access to the target company's intellectual property, proprietary software architecture, and engineering expertise, which are strategically valuable for the company's future AI development [1][2]. Group 2 - The modular AI framework of the target company can be seamlessly integrated into the company's digital platform, accelerating deployment and eliminating the need to develop systems from scratch [2]. - The proprietary AI voice-to-voice technology enhances customer-facing AI tools, benefiting the company's logistics and customer service operations [2]. - The target company's API and cloud architecture improve platform synergy, leading to cost savings and long-term scalability within the company's ecosystem [2]. Group 3 - Incorporating the target company's engineering team ensures the retention and continuity of AI expertise [2]. - The technology from the target company plays a crucial role in advancing the company's global customer service centers, significantly improving efficiency, multilingual support, and 24/7 service availability [2].

Financial Performance - Total revenue for 2024 was RMB 660,119,000, a decrease of 12.3% compared to RMB 752,818,000 in 2023[11] - Gross profit for 2024 was RMB 218,708,000, down 15.2% from RMB 257,895,000 in 2023[11] - The pre-tax loss for 2024 improved significantly to RMB (203,263,000), a reduction of 81.6% from RMB (1,103,139,000) in 2023[11] - The net loss for 2024 was RMB (194,019,000), an 82.4% improvement compared to RMB (1,100,596,000) in 2023[11] - Adjusted net loss for 2024 was RMB (86,116,000), down 49.4% from RMB (170,325,000) in 2023[11] - The group achieved revenue of approximately RMB 660.1 million for the year ending December 31, 2024, a year-on-year decrease of 12%[15] - Gross profit was RMB 218.7 million, reflecting a year-on-year decline of 15%[15] - The company reported an adjusted net loss of RMB 86.1 million for the fiscal year ending December 31, 2024[192] - Total revenue for the fiscal year ending December 31, 2024, was RMB 660.1 million, a decrease of 12.3% compared to RMB 752.8 million in the previous year[192] - Gross profit for the same period was RMB 218.7 million, down 15.2% year-over-year, with a gross margin of 33.1%[200] Market Performance - The contribution from Hong Kong and overseas markets increased to 75% of total revenue, up from 62% in the previous year[14] - Revenue in Vietnam increased by 43% year-on-year, driven by successful entry into the container transport market[20] - Revenue in India grew by 8% year-on-year, supported by strong demand from SMEs and corporate clients[21] - The group reported a 42% year-on-year decline in revenue from mainland China, although 62% of orders were fulfilled by new energy vehicles[22] - Revenue from Hong Kong and overseas markets grew, accounting for 74.8% of total revenue, up from 62.0% in 2023[183] Operational Strategy - The company aims to achieve profitability by optimizing resource allocation in the Chinese market while maintaining operational stability[14] - Operational efficiency improvements led to a double-digit reduction in costs, allowing for reinvestment in technology and service enhancements[23] - The company is focusing on sustainability and innovation, integrating AI solutions into operations to address workforce shortages and improve efficiency[24] - Future plans include the integration of autonomous vehicles, aiming to transform logistics into a seamless, efficient, and sustainable operation[25] - The company plans to focus on accelerating growth in high-potential overseas markets and optimizing its service product mix for 2025[191] Customer and Service Insights - The enterprise business segment contributed 66% of total revenue, solidifying its position as the main growth driver for the group[16] - Value-added services revenue grew by 23%, particularly in Hong Kong and overseas markets, indicating strong customer satisfaction and innovation efforts[16] - Revenue from platform services decreased by 27.0% to RMB 158.3 million, primarily due to reduced user incentives in mainland China, while Hong Kong and overseas markets saw a 9.9% increase in revenue[185] - The company completed approximately 1.5 million deliveries in its enterprise services segment, with a total transaction amount of RMB 439.9 million, reflecting a 5.8% year-over-year decline[186] - Revenue from value-added services decreased by 10.1% to RMB 66.2 million, mainly due to a slowdown in automotive promotions in mainland China[188] Shareholder and Governance Information - Major shareholders include 58 Tongcheng with 237,238,377 shares (37.73%) and Mr. Yao with 242,720,287 shares (38.61%), both holding significant stakes in the company[76][78] - The company has adopted a competitive compensation policy to attract and retain qualified personnel, including performance cash bonuses[65] - The independent non-executive directors confirmed their independence according to the listing rules, and the company considers them independent during the reporting period[58] - The company has implemented a directors' indemnity clause to protect directors against losses incurred in legal proceedings[157] - The company is committed to maintaining high standards of corporate governance, as detailed in the corporate governance report[160] Contractual and Legal Arrangements - The new contract arrangement was established on December 23, 2024, replacing the old contract arrangement, primarily due to a change in shareholders and the inclusion of two new consolidated entities[125] - The exclusive management service and business cooperation agreement allows the group to provide comprehensive management consulting, intellectual property licensing, technical support, and business support services[131] - The new contract arrangements are deemed fair and reasonable, benefiting the overall interests of the company and its shareholders[151] - The company has received approval from the stock exchange to exempt strict compliance with announcement and independent shareholder approval requirements for transactions under the new contract arrangements[152] - The maximum annual cap for fees payable to the foreign-invested enterprise under the new contract arrangements has been set, ensuring financial oversight[152]

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 660,119 thousand, a decrease of 12.3% compared to RMB 752,818 thousand in 2023[3] - Gross profit for the same period was RMB 218,708 thousand, down 15.2% from RMB 257,895 thousand in 2023[3] - Loss before tax improved significantly to RMB 203,263 thousand, a reduction of 81.6% from RMB 1,103,139 thousand in the previous year[3] - The adjusted net loss for the year was RMB 86,116 thousand, a decrease of 49.4% compared to RMB 170,325 thousand in 2023[3] - The company reported a basic and diluted loss per share of RMB 0.31, compared to RMB 1.76 in the previous year[5] - The company recorded an adjusted net loss of RMB 86.1 million for the year ended December 31, 2024[41] - Net loss for the year decreased by 82.4% from RMB 1,100.6 million for the year ended December 31, 2023, to RMB 194.0 million for the year ending December 31, 2024[62] Assets and Equity - Total assets decreased to RMB 621,118 thousand from RMB 866,978 thousand in 2023, reflecting a decline of 28.3%[6] - The company’s total equity decreased to RMB 296,814 thousand from RMB 479,675 thousand in 2023, a decline of 38.0%[7] - Total non-current assets as of December 31, 2024, were RMB 155,313,000, down from RMB 276,975,000 in 2023[17] - Cash and cash equivalents stood at RMB 197,880 thousand, slightly down from RMB 206,308 thousand in 2023[6] - As of December 31, 2024, restricted cash amounted to RMB 23.6 million, down from RMB 62.5 million as of December 31, 2023[78] - The company had a zero debt level as of December 31, 2024, making the capital debt ratio not applicable[76][81] Revenue Breakdown - Revenue from logistics services provided to corporate clients was RMB 435,617,000, down 6.0% from RMB 462,401,000 in the previous year[15] - Revenue from logistics service platform services was RMB 158,295,000, a decrease of 27.2% compared to RMB 216,844,000 in 2023[15] - The geographical revenue breakdown shows that revenue from mainland China was RMB 166,386,000, down from RMB 286,052,000 in 2023[17] - Total revenue for the year decreased by 12.3% to RMB 660.1 million, with Hong Kong and overseas markets contributing 74.8% of total revenue, up from 62.0% in 2023[35] - Revenue from enterprise services decreased from RMB 462.4 million in 2023 to RMB 435.6 million in 2024, primarily due to a strategic shift in mainland China[44] - Revenue from platform services fell from RMB 216.8 million in 2023 to RMB 158.3 million in 2024, attributed to intensified competition and strategic changes[45] Cost Management - Employee benefits expenses, including share-based compensation, were RMB 194,998,000, significantly reduced from RMB 321,381,000 in the previous year[19] - Sales and marketing expenses decreased by 25.6% from RMB 203.9 million for the year ended December 31, 2023, to RMB 151.8 million for the year ending December 31, 2024[51] - General and administrative expenses decreased by 38.3% from RMB 269.3 million for the year ended December 31, 2023, to RMB 166.2 million for the year ending December 31, 2024[52] - Research and development expenses were RMB 22,285 thousand, down from RMB 38,319 thousand in 2023, indicating a focus on cost management[4] - Research and development expenses decreased by 41.8% from RMB 38.3 million for the year ended December 31, 2023, to RMB 22.3 million for the year ending December 31, 2024[53] Strategic Focus and Future Outlook - The company aims to enhance its logistics and delivery solutions, leveraging technology to connect users with service providers in the Asia region[8] - The company has shifted its strategic focus from high-subsidy revenue growth to optimizing service products and improving profitability[29] - The company plans to focus on accelerating growth in high-potential overseas markets and optimizing service product offerings for 2025[40] - The company revised its revenue growth forecast downwards due to intensified competition in the mainland China market and macroeconomic conditions, leading to a projected compound annual growth rate (CAGR) of 5.05% for mainland China operations[30] - The long-term growth rate for mainland China operations is projected at 2.00%, while the operating cost CAGR is estimated at 2.44%[30] Governance and Compliance - The company has adopted the Corporate Governance Code as its own governance guidelines and has complied with all applicable provisions for the year ending December 31, 2024[86] - The board structure includes one executive director, two non-executive directors, and three independent non-executive directors, ensuring a balance of power and effective oversight[87] - The company has established an audit committee to review and supervise financial reporting, internal controls, and risk management systems[90] - The audit committee confirmed that the audited financial results for the year ending December 31, 2024, comply with applicable accounting standards and legal regulations[91] - The auditor, Fook Wai Ma & Co., confirmed that the financial figures in the annual results announcement are consistent with the audited consolidated financial statements[92] Employee and Operational Metrics - The company employed 591 full-time employees as of December 31, 2024, with 42.1% in user services and operations[72][74] - Employee benefits expenses included share-based compensation of RMB 195.0 million for the year ended December 31, 2024, a decrease of 39.3% from RMB 321.4 million for the year ended December 31, 2023[75] - The number of registered shippers reached 34.4 million and registered drivers reached 7 million, with a total of 14.5 million shipping orders completed and a gross transaction value (GTV) of RMB 1,626.3 million[36] - In 2024, the company facilitated approximately 12.9 million shipping orders, with a total transaction value of RMB 1,186.4 million[37] - Enterprise services completed approximately 1.5 million deliveries in 2024, with a total transaction value of RMB 439.9 million, despite a 5.8% year-on-year revenue decline to RMB 435.6 million[38] Dividend and Shareholder Information - The company did not declare or pay any dividends for the years ended December 31, 2024, and 2023[24] - The board does not recommend a final dividend for the year ended December 31, 2024, consistent with the previous year[84] - The annual general meeting is scheduled for June 18, 2025, with a record date for shareholder attendance set for the same day[85]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 324,188 thousand, a decrease of 12.8% compared to RMB 371,758 thousand in the same period of 2023[7] - Gross profit for the same period was RMB 112,737 thousand, down 5.5% from RMB 119,333 thousand year-over-year[7] - Loss before tax improved significantly to RMB (84,001) thousand, a reduction of 87.0% compared to RMB (645,010) thousand in the prior year[7] - Net loss for the period was RMB (82,904) thousand, an 87.1% improvement from RMB (642,938) thousand in the previous year[7] - Adjusted net loss for the period was RMB (33,848) thousand, down 72.1% from RMB (121,260) thousand year-over-year[7] - Adjusted EBITDA loss was RMB (21,194) thousand, an 80.1% decrease compared to RMB (106,338) thousand in the same period of 2023[7] - Total revenue for the six months ended June 30, 2024, was RMB 324.2 million, a decrease of 12.8% compared to RMB 371.8 million for the same period in 2023[16] - Gross profit for the same period was RMB 112.7 million, down from RMB 119.3 million, reflecting a gross margin of 34.8%[83] - Operating loss narrowed to RMB 84,468 thousand from RMB 645,209 thousand year-over-year, indicating improved operational efficiency[83] - Net loss attributable to equity holders was RMB 82,354 thousand, significantly reduced from RMB 642,475 thousand in the prior year[84] - Total comprehensive loss for the period was RMB 81,835 thousand, a significant improvement from RMB 629,396 thousand in the same period last year[84] Revenue Breakdown - Revenue from Hong Kong and overseas markets reached RMB 234.5 million, an increase of 4.9% from RMB 223.6 million year-on-year, contributing 72.3% to total revenue[5] - Revenue from enterprise services decreased by 7.4% to RMB 211.6 million from RMB 228.5 million in the previous year[19] - Revenue from platform services fell by 26.0%, from RMB 109.5 million to RMB 81.1 million, attributed to intensified competition in the domestic market[20] - Revenue from value-added services decreased by 6.6% to RMB 31.5 million from RMB 33.8 million, primarily due to a decline in the domestic market[21] - Platform services generated revenue of RMB 81.1 million, accounting for 25.0% of total revenue, with GTV from platform services at RMB 606.8 million[11] - Corporate services generated RMB 211.6 million in revenue, representing 65.3% of total revenue, with stable performance attributed to long-term contracts with major corporate clients[12] User Engagement - The number of registered users exceeded 33.7 million, with 6.8 million registered drivers, indicating strong engagement across mainland China, Hong Kong, and overseas markets[5] - The company operates in over 370 cities across six countries and regions in Asia, including mainland China, Hong Kong, Singapore, South Korea, India, and Vietnam[3] Cost Management - Sales and marketing expenses decreased by 37.3% to RMB 69.3 million from RMB 110.6 million, mainly due to reduced user incentives and advertising costs[24] - General and administrative expenses decreased by 34.6% to RMB 77.4 million from RMB 118.2 million, primarily due to lower employee benefits[25] - Operating cash used in business activities was RMB 43.2 million for the first half of 2024[17] - Capital expenditures for the same period amounted to RMB 1.3 million[17] - Employee benefit expenses, including share-based compensation, amounted to RMB 93.3 million for the six months ended June 30, 2024, down 36.7% from RMB 147.5 million for the same period in 2023[44] Strategic Focus - The company is focused on leveraging technology to simplify urban logistics and is committed to social welfare and sustainable development[3] - Future strategies include market expansion and the development of new technology solutions to enhance logistics services[3] - The company expanded its strategic layout in Southeast Asia, with significant revenue growth in Vietnam (42.8%) and Korea (11.6%) during the reporting period[12] - The introduction of AI and machine learning in operations significantly improved order dispatch rates and customer service quality, enhancing long-term customer loyalty[11] Financial Position - Cash and cash equivalents as of June 30, 2024, amounted to RMB 363.0 million, compared to RMB 199.8 million as of June 30, 2023[38] - The company reported a zero debt level as of June 30, 2024, resulting in a capital-to-debt ratio that is not applicable[45] - The company had no significant investments or capital asset plans as of June 30, 2024[41] - The company reported a foreign exchange gain of RMB 454 thousand, compared to a gain of RMB 11,490 thousand in the previous year[83] - The company’s total liabilities increased, with cumulative losses reaching RMB 7,464,571,000 as of June 30, 2024[88] Share Incentive Plan - The company has adopted a share incentive plan to recognize and reward contributions from certain management members and employees[43] - The share incentive plan allows for a maximum issuance of 104,134,465 shares, representing approximately 16.6% of the total issued shares[63] - The plan includes provisions for granting stock options, restricted shares, and restricted share units to eligible participants[62] - The maximum number of shares that can be granted to a single eligible participant under the share incentive plan has no specific limit[63] - The company granted a total of 104,134,465 share options under the share incentive plan prior to its listing on June 24, 2022[78] Governance and Compliance - The company has established an audit committee to oversee financial reporting and risk management systems[50] - The company has complied with all applicable corporate governance codes during the reporting period[47] - The board has proposed to appoint a new auditor, with the resignation of the previous auditor effective from September 12, 2024[53] Market Conditions - Revenue for the reporting period was RMB 324.2 million, a decrease of 12.8% compared to RMB 371.8 million in the same period last year, primarily due to weak consumer sentiment in mainland China[5] - Gross transaction value (GTV) was RMB 822.1 million, despite a decline attributed to strategic decisions aimed at optimizing service products and improving profitability[5]

Revenue Performance - Revenue for the six months ended June 30, 2024, was RMB 324,188 thousand, a decrease of 12.8% compared to RMB 371,758 thousand for the same period in 2023[1] - Total revenue for the six months ended June 30, 2024, was RMB 324,188,000, a decrease from RMB 371,758,000 for the same period in 2023, representing a decline of approximately 12.8%[17] - Revenue from logistics services provided to corporate clients was RMB 211,581,000, down from RMB 228,499,000, reflecting a decrease of about 7.4%[17] - Revenue from Hong Kong and overseas markets reached RMB 234.5 million, an increase of 4.9% compared to RMB 223.6 million in the previous year, while mainland China revenue fell by 39.5% to RMB 89.7 million[33] - Revenue from platform services generated RMB 81.1 million, accounting for 25.0% of total revenue, with GTV of RMB 606.8 million and 6.8 million shipping orders processed, despite a 40% decrease in order volume year-over-year[35] - Corporate services generated RMB 211.6 million in revenue, stable compared to RMB 228.5 million in the same period last year, representing 65.3% of total revenue, with significant contracts signed with major enterprises[36] - Value-added services revenue was RMB 31.5 million, a decline of 6.6% year-over-year, making up 9.7% of total revenue[37] - In Hong Kong and overseas markets, value-added services revenue increased by 31.7% to RMB 27.0 million, driven by successful integration with platform and corporate solutions[38] Profitability and Loss - Gross profit for the same period was RMB 112,737 thousand, down 5.5% from RMB 119,333 thousand in 2023[1] - Loss before tax improved significantly to RMB (84,001) thousand, a reduction of 87.0% from RMB (645,010) thousand in the prior year[1] - Adjusted net loss for the period was RMB (33,848) thousand, a decrease of 72.1% compared to RMB (121,260) thousand in 2023[1] - The company reported a total comprehensive loss of RMB (81,835) thousand for the period, significantly lower than RMB (629,396) thousand in the same period last year[3] - Basic and diluted loss per share improved to RMB (0.13) from RMB (1.03) in the previous year[3] - The company reported a net loss attributable to equity holders of RMB 82,354,000 for the six months ended June 30, 2024, compared to a net loss of RMB 642,475,000 for the same period in 2023, indicating a significant improvement[25] - The total loss for the period ended June 30, 2024, was RMB 82.9 million, compared to a loss of RMB 642.9 million for the same period in 2023[61] - The adjusted net loss for the first half of 2024 was RMB 33.8 million, a decrease of 72.1% compared to the same period in 2023[59] - The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first half of 2024 was a loss of RMB 21.2 million, down 80.1% from the same period in 2023[60] Expenses and Cost Management - Research and development expenses decreased to RMB 11,552 thousand, down 48.3% from RMB 22,392 thousand in the previous year[2] - Employee benefits expenses, including share-based compensation, decreased to RMB 93,263,000 from RMB 147,495,000, a reduction of approximately 36.8%[18] - The total cost of revenue, sales and marketing expenses, R&D expenses, and general and administrative expenses amounted to RMB 369,667,000, down from RMB 503,623,000, a decrease of about 26.5%[18] - Selling and marketing expenses decreased by 37.3%, from RMB 110.6 million to RMB 69.3 million[48] - General and administrative expenses fell by 34.6%, from RMB 118.2 million to RMB 77.4 million[49] - The company's loss decreased by 87.1% to RMB 82.9 million, attributed to strict cost optimization measures and a focus on higher-margin services and products[34] Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 362,991 thousand from RMB 206,308 thousand at the end of 2023[5] - The net increase in cash and cash equivalents was RMB 154,507 thousand for the six months ended June 30, 2024, compared to a decrease of RMB (132,510) thousand for the same period in 2023[7] - The ending cash and cash equivalents balance was RMB 359,735 thousand as of June 30, 2024, compared to RMB 199,791 thousand as of June 30, 2023, reflecting a strong liquidity position[7] - The company reported a decrease in cash used in operating activities, with cash used for business operations at RMB (41,833) thousand, down from RMB (125,527) thousand year-over-year[6] - Operating cash flow used was RMB (43,206) thousand for the six months ended June 30, 2024, compared to RMB (128,063) thousand for the same period in 2023, indicating a significant improvement[6] - The net cash used in operating activities for the first half of 2024 was RMB 43.2 million, compared to RMB 128.1 million in the same period of 2023[64] - The company plans to meet its liquidity needs through cash generated from operations and proceeds from its global offering[64] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 738,438 thousand, down from RMB 866,978 thousand as of December 31, 2023[4] - Non-current liabilities decreased to RMB 15,067 thousand from RMB 21,105 thousand at the end of 2023[5] - The carrying amount of goodwill as of June 30, 2024, was RMB 155,919,000, down from RMB 206,894,000 at the end of 2023, reflecting a decrease due to impairment[28] - The goodwill allocated to the mainland China business cash-generating unit was RMB 152.452 million as of June 30, 2024, down from RMB 203.452 million as of December 31, 2023[30] - The company recognized an impairment loss of RMB 51 million for the mainland China business cash-generating unit for the six months ended June 30, 2024[30] - The net accounts receivable as of June 30, 2024, was RMB 73.035 million, down from RMB 83.758 million as of December 31, 2023[31] - Accounts payable decreased to RMB 43.124 million as of June 30, 2024, from RMB 48.377 million as of December 31, 2023[32] - As of June 30, 2024, the company had zero borrowings, making the debt-to-equity ratio not applicable[71] Strategic Initiatives and Future Outlook - The company operates primarily in logistics and delivery solutions across various regions, including mainland China, Hong Kong, Singapore, South Korea, and other Southeast Asian countries[8] - The company plans to leverage AI and machine learning to enhance operations and service delivery quality, focusing on expansion in the APAC region and launching new premium service products[39] - The company has expanded its strategic layout in Southeast Asia, with Hong Kong and overseas markets now accounting for 72.3% of total revenue[33] - The compound annual growth rate (CAGR) for revenue in the mainland China business is projected at 7.28% for the five-year forecast period[30] Corporate Governance and Compliance - The company has not adopted new standards that are effective from January 1, 2024, and is currently assessing the impact of new standards issued but not yet effective[13] - The company continues to evaluate its accounting policies and estimates, ensuring consistency with previous financial reporting periods[9] - The audit committee has reviewed the unaudited consolidated interim financial statements for the six months ended June 30, 2024[79] - The company remains committed to maintaining high standards of corporate governance to protect shareholder interests[76] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[78] - The company did not declare or pay any dividends for the six months ended June 30, 2024, and 2023[27]