Logistics Platform GOGOX Debuts on HKEx
Logistics platform GOGOX was officially listed on the main board of the Hong Kong Stock Exchange under the ticker symbol “2246” on Friday.
At the end of trading on Friday, GOGOX closed at HK $16.72 per share with a market value of about HK $10.292 billion.
Founded in 2014, GOGOX, a part of the Daojia Group, now does business in over 340 cities in five Asian countries and regions. As of December 31, 2021, there were about 5.2 million registered drivers and about 27.6 million registered users on the GOGOX platform.
From 2018 to 2021, the retention rate of customers and drivers of GOGOX in the Chinese mainland, Hong Kong and Singapore was 45.9% and 75.1%. According to Frost & Sullivan, among Asia’s online intra-city logistics platforms, user satisfaction of GOGOX ranks in the forefront.
From 2018 to 2021, the income of GOGOX was 453 million yuan ($67.63 million), 548 million yuan, 530 million yuan and 660 million yuan, while the gross profit totalled 104 million yuan, 173 million yuan, 183 million yuan and 241 million yuan respectively.
From 2018 to 2021, GOGOX’s revenue in Hong Kong and overseas markets increased at a compound annual growth rate of about 167%, and its proportion in total revenue also increased from 26.5% to 48.0%.
While maintaining business growth, GOGOX is also continuously paying attention to social responsibility and sustainability. Since 2018, GOGOX has been committed to building a standard and green intra-city freight platform.
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On the one hand, GOGOX is able to build an efficient supply chain based on its data technology that helps reduce costs for shippers while increasing the income of drivers all of which leads to an overall minimizing impact on the environment. On the other hand, GOGOX continues to promote the use of new energy vehicles in logistics services.