手握187亿现金、买家数大增80%，大健云仓狂飙！

Core Insights - The company, Dajian Cloud Warehouse, reported an 8.3% revenue growth in Q1 2025, reaching $272 million, with a significant GMV increase of 56.1% year-on-year to $1.42 billion [1] - The B2B cross-border e-commerce market is experiencing structural expansion, with China's B2B cross-border e-commerce transaction volume expected to reach 15 trillion yuan by 2025 [3] - Dajian Cloud Warehouse's business model, which includes a Supply Chain Front-Loading (SFR) approach, has proven effective in addressing logistics and warehousing challenges, contributing to its financial success [6][15] Financial Performance - In 2024, Dajian Cloud Warehouse achieved total revenues of $1.161 billion, a 65% increase year-on-year, with gross profit rising by 51.2% to $285.2 million and net income increasing by 33.7% to $125.8 million [4][5] - The company reported a GMV growth of 68.9% year-on-year to $1.34 billion, with active buyers and sellers increasing by 85.7% and 36.3%, respectively [4] - As of Q1 2025, the number of active buyers grew by 33.4% year-on-year to 1,154, while active sellers reached 9,966, marking an 81.4% increase [8][12] Business Model and Strategy - The SFR model allows suppliers to ship products in bulk to overseas warehouses, enabling a "goods first" approach before orders are placed [6] - Dajian Cloud Warehouse connects suppliers, buyers, and end consumers through its GigaCloud Marketplace, providing a comprehensive B2B e-commerce solution for large goods [8] - The company has established 35 large smart warehousing and distribution centers globally, ensuring efficient delivery within an average of three days across 90% of the U.S. market [13] Market Expansion and Competitive Advantage - Dajian Cloud Warehouse's international expansion strategy is driven by the need to mitigate cost pressures related to logistics and warehousing, as well as to reduce reliance on single markets [16][17] - The company has seen a 155% GMV growth in the European market in 2024, demonstrating the scalability of its business model [16] - The company maintains a strong financial position with over $300 million in cash and cash equivalents, allowing for continued investment and global expansion [19]