货拉拉更新招股书：2025年上半年履约订单同比增长34%，变现率持续走低

Core Viewpoint - Huolala updated its prospectus to the Hong Kong Stock Exchange, revealing significant growth in revenue and order volume for the first half of 2025, despite a declining monetization rate in mainland China [1] Financial Performance - In the first half of 2025, Huolala achieved revenue of $935 million, representing a year-on-year growth of 31.80% [1] - The total number of orders facilitated by Huolala exceeded 455 million, marking a year-on-year increase of 34% [1] - The global transaction volume reached $5.967 billion, showing a year-on-year growth of 17.7% [1] Monetization Rate - The monetization rate of Huolala's freight platform services in mainland China has been declining for three consecutive years, decreasing from 10.3% in 2023 to 9.6% in 2024, and further down to 9.2% in the first half of 2025 [1]