闪送一季度同比由盈转亏 已连续亏了两个季度 CEO薛鹏会如何应对？

Core Insights - The recent financial report from Flash Delivery for Q1 2025 shows a significant decline, with a shift from profit to loss and a decrease in revenue [1][3]. Financial Performance - Flash Delivery reported a revenue of approximately 961 million yuan in Q1 2025, down 13.27% from 1.108 billion yuan in the same period last year [3]. - The company experienced a net loss of 10.27 million yuan, contrasting with a profit of 64.57 million yuan in the previous year [3]. - This marks the second consecutive quarter of losses since the company's IPO in October last year, with a net loss of 294 million yuan in Q4 2024, leading to an annual net loss of 146 million yuan [3]. Market Competition - The decline in revenue and profits is attributed to intense market competition, resulting in decreased order volume and lower average order value [3][4]. - Flash Delivery's order volume fell to 58 million orders in Q1 2025, representing a 16.3% year-over-year decline and an 11.8% quarter-over-quarter decrease [3]. - The average order value decreased from 19.2 yuan in 2021 to 16.5 yuan in the first half of 2024, indicating challenges in maintaining pricing power [3]. Operational Costs - The company's total operating expenses increased significantly by 27.0% to 117 million yuan, driven by rising costs in sales, marketing, general administration, and research and development [4]. - The increase in operational costs is largely due to higher employee compensation and stock-based compensation expenses [4]. - As of March this year, Flash Delivery had 2.9 million registered couriers, up from 2.8 million at the end of last year, leading to increased payroll and rewards expenses [4]. Industry Context - The challenges faced by Flash Delivery are reflective of broader issues in the "one-to-one urgent delivery" sector, where competitors like Dada Group also reported significant losses due to rising courier costs [5]. - Despite the challenges, Flash Delivery achieved a gross margin of 13.2%, an increase of 1.4 percentage points compared to the same period last year, indicating a gradual improvement in profitability [5]. - The company processed 58 million orders in Q1, suggesting that there is still a willingness among consumers to use Flash Delivery's services [5].