We are a major online intra-city logistics platform in Asia. We operate in more than 340 cities across five countries and regions in Asia, namely mainland China, Hong Kong, Singapore, Korea and India. We own and operate two highly-recognized, well-trusted brands in the online intra-city logistics space: Kuaigou Dache (快狗打車) in mainland China and GOGOX in other countries and regions in Asia. According to Frost & Sullivan, we are the third largest online intra-city logistics platform in mainland China with a market share of 3.2%, ranking after players with market share of 52.8% and 5.5%, and the market leader in Hong Kong with a market share of 50.9%, each in terms of GTV in 2021. According to the same source, mainland China and Hong Kong collectively accounted for approximately 71% of the online intra-city logistics market of Asia in terms of GTV in 2021.
Our integrated smart platform seamlessly connects drivers with shippers who need their freight and goods delivered within the same city, setting transaction practices that promote transparency, trust and efficiency. Our intelligent online platform enables convenient, high-quality logistics services catering to the varying needs of large enterprises, SMEs and individual shippers, and helps drivers find sustainable opportunities.
We have built a vibrant ecosystem of millions of shippers and drivers. As of December 31, 2018, 2019, 2020 and 2021, we had approximately 14.5 million, 19.8 million, 24.0 million and 27.6 million registered shippers and 1.3 million, 3.0 million, 4.2 million and 5.2 million registered drivers, respectively. In 2018, 2019, 2020 and 2021, there were 32.4 million, 33.4 million, 27.1 million and 28.4 million shipment orders fulfilled on our platform, generating a total GTV of RMB3,356.9 million, RMB3,313.0 million, RMB2,694.4 million and RMB2,676.7 million, respectively.
We leverage data and technology to build efficient supply chains, lower costs for shippers, increase earnings for drivers, and minimize environmental impact. Substantially all of the drivers who fulfill shipment orders on our platform by delivering freight and goods are not our employees and we do not own most of the vehicles used by the drivers. We generally do not hire drivers as our employees or own vehicles used by drivers to deliver freight and goods. As of December 31, 2021, in Singapore, we employed two drivers and rented 12 vehicles to provide better logistics services to our enterprise customers.
We had revenue of RMB453.1 million, RMB548.5 million, RMB530.4 million and RMB660.9 million in 2018, 2019, 2020 and 2021, respectively. Our gross profit was RMB104.4 million, RMB173.1 million, RMB183.4 million and RMB241.7 million in 2018, 2019, 2020 and 2021, respectively, representing a gross profit margin of 23.0%, 31.6%, 34.6% and 36.6% in the same periods, respectively. We had net loss of RMB1,070.9 million, RMB183.8 million, RMB658.2 million and RMB872.9 million in 2018, 2019, 2020 and 2021, respectively. Our adjusted net loss, which is a non-IFRS measure, was RMB784.0 million, RMB396.9 million, RMB185.4 million and RMB311.1 million in 2018, 2019, 2020 and 2021. Our adjusted EBITDA, which is a non-IFRS measure, was negative RMB762.5 million, negative RMB359.8 million, negative RMB147.3 million and negative RMB282.4 million in 2018, 2019, 2020 and 2021, respectively. See “Financial Information — Description of Major Comprehensive Income Line Items — Non-IFRS Measures” for a reconciliation of our net loss to the adjusted net loss (a non-IFRS measure) and the adjusted EBITDA.
Source: GOGOX Holdings (02246) Prospectus (IPO Date : 2022/06/14) |