Summary by Futu AI
Polar Rabbit Express Worldwide Limited (the “Company”) announces its annual results for the year ended 31 December 2023. The company's revenue grew 21.8% from $7,267.4 million in 2022 to $8,849.3 million in 2023, while gross profit shifted from a loss of $270.2 million in 2022 to a profit of $472.8 million for 2023. The loss for the year went from a profit of $1,572.6 million in 2022 to a loss of $1,156.4 million in 2023. Adjusted EBITDA translates from a loss of $894.1 million in 2022 to a profit of $146.7 million for 2023. Cash generated from operating activities was $342.0 million, and cash used was $519.8 million in 2022. As of December 31, 2023, the Company's cash and cash equivalents were $1,483.2 million. THE DIRECTORS OF THE COMPANY DO NOT PROPOSE TO DISTRIBUTE A FINAL DIVIDEND FOR THE YEAR ENDED 31 DECEMBER 2023.