
Financial Performance - In Q2, the total transaction volume of the company reached 11,606 vehicles, representing a significant year-on-year increase of 107.1% and a quarter-on-quarter increase of 40.4% [2] - Retail transaction volume was 10,385 vehicles, showing a year-on-year growth of 153.9% and a quarter-on-quarter growth of 37.6%, marking five consecutive quarters of over 140% year-on-year growth [2] - The total revenue for Q2 was RMB 658 million, a year-on-year increase of 64.1% and a quarter-on-quarter increase of 30.6% [2] - Retail revenue reached RMB 608 million, with a year-on-year increase of 87.0% and a quarter-on-quarter increase of 30.5% [2] - The gross margin stood at 5.2%, indicating a steady improvement in overall operational quality [2] - Adjusted EBITDA loss narrowed to RMB 16.5 million, a reduction of over 50% year-on-year [2] Operational Highlights - Inventory turnover days were approximately 30 days, indicating efficient inventory management [2] - The customer net promoter score remained at 65, reflecting customer satisfaction [2] - The Wuhan warehouse market saw several-fold growth in sales after trial operation, while the Zhengzhou warehouse market commenced trial operations on September 27, covering 150,000 square meters with a capacity to display 5,000 vehicles [2] Strategic Expansion - The company's founder and CEO, Dai Kun, stated that the expansion of the warehouse model is progressing smoothly [3] - The performance of the Wuhan warehouse exceeded expectations, contributing to steady improvements in profitability and becoming a new growth engine [3] - As more city projects are launched, the company anticipates continued growth in sales and revenue, further solidifying its leading position in the Chinese used car market [3]